Business

Here we bring you business news affecting both our economy and our daily lives. ___________________________________________________________________________________________

Supply chain AI company sounds the alarm over America’s reliance on Chinese-made pharmaceuticals

Rachel Wolf / FOXBusiness

President Donald Trump recently teased tariffs on pharmaceutical imports, and his administration began ramping up probes into the issue this week. 

The administration said these tariffs are necessary to bring pharmaceutical manufacturing back to the U.S., which it classified as a matter of national security. This comes as supply chain AI company Exiger sounds the alarm over U.S. reliance on Chinese-made pharmaceuticals.

In Exiger’s report, “A Bitter Pill: America’s Dangerous Dependence on China-Made Pharmaceuticals,” the company explains that American patients are at risk of getting low-quality medication — or none at all — under the current system. 

“We were very worried about the fact that after the pandemic, the strategic national stockpiling efforts and the sort of restoring, you know, United States independence when it came to both pharmaceuticals and medical devices had sort of lost its tailwinds,” Exiger CEO Brandon Daniels…Read more and see video here.

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Judge tosses Biden-era credit card late fee rule: What to know

By Daniella Genovese – FOXBusiness

A federal judge threw out a U.S. Consumer Financial Protection Bureau (CFPB) rule Tuesday that capped all credit card late fees at $8. 

U.S. District Judge Mark Pittman of the U.S. District Court for the Northern District of Texas approved a joint motion from a coalition of six business and banking groups, including the American Bankers Association (ABA) and the CFPB to scrap the rule, which was established last year. 

The ABA and the U.S. Chamber of Commerce were among the plaintiffs that challenged the rule in U.S. District Court for Northern Texas, arguing the bureau exceeded its statutory authority. 

According to court documents, the groups argued the rule violated the Credit Card Accountability and Disclosure Act and Administrative Procedure Act by prohibiting card issuers from…Read more here.

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Billionaire hedge fund manager warns tariffs could trigger conditions ‘worse than a recession’

Eric Revell / FOXBusiness

Billionaire hedge fund manager Ray Dalio warned in an interview on Sunday that he’s concerned about the economy experiencing something “worse than a recession” if the trade war sparks a breakdown of the broader financial system.

Dalio, the co-chief investment officer of the world’s largest hedge fund, Bridgewater Associates, said in an appearance on NBC’s “Meet the Press with Kristen Welker” that President Donald Trump’s tariffs have been “very disruptive” and are “like throwing rocks into the production system.”

Welker asked Dalio if Trump’s tariffs are likely to cause a recession, and he replied, “I think that right now we are at a decision-making point and very close to a recession. And I’m worried about something worse than a recession if this isn’t handled well.”

Dalio said that while recessions occur regularly, what appears to be occurring is “much more profound” as there is a “breaking down of the monetary order” involving the dollar, along…Read more and see video here.

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Major companies still engaging in DEI policies under new names, consumer watchdog claims

David Spector – FOXBusiness

A conservative consumer advocacy group is alleging that multiple companies are continuing to undertake diversity, equity and inclusion (DEI) policies under different names after seemingly rolling them back.

Consumers’ Research (CR), dedicated to educating potential shoppers on companies’ woke policies and other matters that could influence their choices, says four major U.S. corporations – Kohl’s, Dollar Tree, UPS and Nationwide – are trying to disguise their ongoing DEI policies by rebranding them under different terms.

“It’s the same racism under a different name. Rebranding from DEI doesn’t change the anti-White and anti-Asian nature of these activities. Corporations should focus on serving customers by finding and retaining the best talent, not engaging in a retrograde racial patronage scheme,” Consumers’ Research Executive Director Will Hild told Fox News Digital. Read more here.

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