President Donald Trump has established an “America first” policy on tariffs and soon big changes will be evident, according to economic forecasting . The tariff war has already had drastic impacts on businesses and the stock market, so there are sure to be others. Along with the controversial federal funding cuts, there are a myriad of moving parts to keep track of as Trump enacts his executive orders. The American people and those abroad keeping abreast of the situation may not be caught up on their international taxation information . For anyone seeking uncomplicated answers, here’s a quick guide to how tariffs work and why they’re so relevant in 2025. How Do Tariffs Work? (Tyler Casey/Unsplash) In a conversation with UChicago News earlier this month, Professor Robert Gulotty explained, “Tariffs are federal taxes, set by Congress, and applied to goods at the border. Unlike income or sales taxes, tariffs vary by product and by the originating country.” These taxes on imported goods...

Verizon Communications Inc. met with customer service employees last summer, signaling imminent “restructuring” and “streamlining” measures expected to result in substantial layoffs, as reported by The Verge. With over 6,000 employees present during the call, the impact of these consolidation measures may extend beyond initial estimates. Verizon was slated to reveal details about the restructuring plan last summer, as conveyed in a prerecorded message to employees. However, no public updates have since been released. Workforce Reductions Across Companies The reported layoffs at Verizon align with a broader trend of U.S. companies, including Meta Platforms Inc. and Alphabet Inc., implementing workforce reductions due to a demand downturn attributed to elevated inflation and rising interest rates. In April, Verizon fell short of its first-quarter revenue and free cash flow estimates, citing wireless subscriber losses as inflation-weary Americans postponed device upgrades, and the...