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The U.S. Secretary of State stated that labels such as toll or fee for a tariff amount to semantics. The remarks addressed how different terms describe the same policy measure.
france24.comThe U.S. Secretary of State said the distinction between calling a tariff a toll or a fee is a matter of wording rather than substance. The statement focused on how terminology does not change the underlying policy effect.
Tariffs function as charges applied to imported goods at the border. Officials have used various terms when describing these measures to the public. The comments come as trade measures continue to draw attention from governments and businesses involved in cross-border commerce.
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businesstoday.inThe Federal Reserve's preferred inflation gauge rose to a three-year high in May. Consumer spending and income both increased more than expected while GDP for the first quarter was revised higher.
qz.comMicron Technology reported third-quarter profit of $28.2 billion, up nearly 15 times from a year earlier, and said customers had committed $22 billion for future chip supplies. The results reversed a sharp sell-off in AI-related stocks that hit markets earlier in the week.
theiranproject.comIran and Oman foreign ministers held a phone call stressing coordination on maritime traffic through the Strait of Hormuz. The call focused on regional maritime security and traffic management in the waterway.