The de minimis tariff exemption ended on Friday. Now, Chinese goods under $800 face a 145% duty, hitting big Chinese companies like Shein, Temu, and Alibaba (BABA). Meanwhile, President Trump's tariffs on auto parts is set to begin on Saturday,

Americans who buy from low-cost Chinese e-commerce sites are about to feel the pinch from President Donald Trump's tariffs as the de minimis exemption has ended.

View online. YOUR MORNING May 2, 2025 Good morning, NewsNation. For more fact-based, unbiased news coverage 24/7 – Download the NewsNation app here > Trump ends China’s de minimis tariff exemption on low-value packages Packages from China: A special exemption that prevented tariffs from being imposed on some packages coming from China expired overnight

Wall Street extended its gains to a ninth straight day, marking its longest winning streak since 2004 and reclaiming the ground it lost since President Donald Trump escalated his trade war in early April.

Wall Street has clawed back losses incurred after President Donald Trump imposed global tariffs a month ago, capping the longest winning streak in two decades for US stocks. Shares saw gains for the ninth day in a row for the first time since 2004 after a better-than-expected jobs report and rising hope of US-China trade talks.

The jobs market was expected to slow in April, but the new report from the Labor Department showed the labor market is weathering tariff uncertainty.

US employers added 177,000 jobs in April as Trump's tariffs took effect; unemployment at 4.2%, April jobs report shows.

Apple shares fell 5% on Friday after the company trimmed its stock buyback program and CEO Tim Cook flagged a $900 million tariff-related hit to costs this quarter amid a raging Sino-U.S. trade war.

Apple shares fell more than 4 percent in early trading Friday as investors weighed an outlook for the iPhone maker that’s clouded by tariffs. The company’s fiscal second-quarter results came in ahead of analyst estimates,

That is how much tariffs will add to Apple's costs this quarter, assuming existing policies remain in place, said Chief Executive Tim Cook. He forecast the hit could worsen further ahead. Shares in the iPhone maker fell nearly 3% in premarket trading.