The US and China just hit pause on their trade war with a 90-day deal to slash tariffs. Some duties are scrapped altogether; others are capped at 30% for Chinese imports and 10% for US exports.
Why this matters: An all-out global trade war rattled both consumers and investors, with no clear “winner” in sight. The timing is key, since the latest Consumer Price Index drops tomorrow, and it could show whether President Trump’s “Liberation Day” reset is actually bringing relief to American wallets.
What to expect: Stocks are already rallying (think: retail and tech stocks), and businesses may rush to restock. Still, Treasury Secretary Scott Bessent made clear this is a pause, not a peace treaty. The next phase of talks could shape how much the US really plans to rely on China going forward. But for now, it means there will be dolls under the Christmas tree this year.
Symptom Relief, Now With a Price Hike
President Trump’s economic policies are scrambling how we all organize our finances. According to this annual Gallup report, we’re: 1. saving more, 2. moving into "safer" investments (bonds and gold), and 3. looking beyond our 9-to-5 for extra income. Sound familiar?
Check, check, check. Am I missing anything?
Yes. Planning for the unexpected when it comes to healthcare costs. Almost 40% of Americans aren't sure they'd be able to cover a serious illness or accident. And that was before Trump said he'll be adding tariffs as high as 200% to pharma imports... any day now.
What should I expect?
Most US meds are made abroad. For months, drug companies have been stockpiling inventory to get ahead of possible tariffs (see: this insane hockey stick chart) — which could mean that we won't get sticker shock right away.
What can I do to get ahead of this?
Stock up on Rx. Ask if your provider will give you a three to six month prescription that you can fill now.
Make the most of coupons. If your insurance doesn’t cover a medication, check for manufacturer coupons. (Google your Rx name + coupon.) There are also free prescription discount cards.
Talk with your doctor. See if they can recommend a generic or lower-cost alternative. Plus, docs get lots of free samples.
– “Making Friends With My Pharmacist” Anna Davies, writer
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How are you handling your money amid *all this*?
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Some offices are making one major change that could (maybe) get us to ditch WFH.
Budget By Bandwidth
It’s tempting to default to: You like numbers, you handle the budget. But the smartest way to split money as a household isn’t about who’s more “financially savvy” — it’s about who stresses over which expenses.
Try this instead: Divide by emotional load.
If one of you gets twitchy about surprise expenses (hi, grocery bills), and the other gets overwhelmed by choice (like comparing car prices) play to those strengths and divide your money responsibilities accordingly.
Keep in mind …
Everyone should know the numbers , but one person can take the wheel in certain areas to make things smoother.
Trust matters. If one partner doesn’t work well with spreadsheets, it’s okay for them to ditch Excel even if that’s your system.
Money tasks can spiral. Buying a birthday gift for a family member won’t break the bank, but it does take energy. Make sure you’re both mindful of those hidden costs.
All month, we’re talking through how you can finally, really share the load with your partner. Don’t Wait, here.
Trending products and brands our shopping team has been loving recently.
If you're taking your budget more seriously these days (we are, too), check out these products to buy now that'll save you money in the long run.
Ahead of Memorial Day, Abercrombie & Fitch is taking 30% off all shorts and swimwear, and 20% off almost everything else. Use code SHORTSAF for an additional 15% off.
Click here to shop more of the best sales of the week. We're stocking up on these $29 cooling pajamas before Sweaty Sleeping Season™ reaches its peak.
Psst…love our recs? Follow @skimmshopping on Instagram for more products, gifts, and services that are actually worth the hype (and the price tag).
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