The removal of de minimis for products originating from China and Hong Kong exposes those goods to tariffs of 145% on most Chinese goods.

May 2 marks the end of the ‘de minimis’ exemption, a longstanding rule that applied to packages entering the U.S. worth under $800

The latest jobs numbers beat expectations, showing the U.S. economy added 177,000 jobs in April. CBS News' Kelly O'Grady has more on the data, and Willie James Inman has more on the Trump administration's response to the report.

President Donald Trump narrowly avoided a rebuke from the U.S. Senate on his tariffs due to one Democratic senator's absence. The resolution, defeated with a 49-49 tie on April 30, reflects discontent with Trump's 10% across-the-board tariffs and now-paused "retaliatory" tariffs that rattled Wall Street and contributed to a shrinking GDP as four Republicans joined with all present Democrats in supporting it.