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Executive insights: Maritime leaders on tariffs, workforce development and more
DONALD MILLS President and general manager, Mills Marine & Ship Repair, Suffolk Virginia Business: How did you move from being employed at Huntington Ingalls Industries and Newport News Shipbuilding to starting your own business? Mills: At HII, I gained extensive hands-on experience, comprehensive industry insights and valuable professional relationships. This tenure taught me critical technic[...]
Tariffs, politics drive uncertainty for shipping
Rising tariffs, Red Sea attacks, and labor costs create instability for shippers and could impact Port of Virginia operations and U.S. supply chain
US stocks sink with the US dollar’s value as investors retreat further from the United States
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — U.S. stocks are tumbling Monday as investors worldwide get more skeptical about U.S. investments because of President Donald Trump’s trade war and his criticism of the Federal Reserve, which are shaking the traditional order. The S&P 500 sank 3.4% in another wipeout. […]
Hong Kong post office will stop shipping parcels to the US over tariffs
HONG KONG (AP) — Hong Kong’s post office will stop shipping small parcels to the United States after Washington announced plans to charge tariffs on small-value parcels from the southern Chinese city, the government said Wednesday. The U.S. government earlier announced that it would end a customs exception allowing small-value parcels from Hong Kong to enter the U.S. without […]
Retail sales rise 1.4% in March as shoppers stock up on big ticket items ahead of tariffs
NEW YORK (AP) — U.S. shoppers stepped up their shopping last month, fueled by a spending spree on big ticket items, particularly cars, before President Donald Trump’s expansive new tariffs started kicking in. But analysts were quick to point out that the data wasn’t a sign of strength but underscored the extreme economic uncertainty that […]
World Trade Organization says global trade could slide this year because of Trump’s tariff policies
GENEVA (AP) — The World Trade Organization says the volume of trade in goods worldwide is likely to decrease by 0.2% this year due to U.S. President Donald Trump’s shifting tariff policies and a standoff with China, but it would take a more severe hit if Trump carries through on his toughest “reciprocal” tariffs. The decline in […]
US stocks climb in shaky trading but the US dollar and government bonds sink as trade-war fears rise
NEW YORK (AP) — U.S. stocks are climbing in shaky trading Friday as President Donald Trump’s trade war with China escalates further and U.S. households get more worried about it. Gold’s price is rising, the U.S. dollar’s value is falling and other financial markets are also swinging in indications of fear about where the U.S. economy will ultimately fit in the worldR[...]
The Latest: Global tariff battle escalates as China retaliates with 125% tariffs on US goods
China announced Friday that it will raise tariffs on U.S. goods from 84% to 125% — the latest salvo in an escalating trade war between the world’s two largest economies that has rattled markets and raised fears of a global slowdown. While U.S. President Donald Trump paused import taxes this week for other countries, he raised tariffs on China and […]
The Latest: S&P 500 falls 2% at the open despite Trump’s tariff pause
U.S. stocks are giving back some of their historic gains from the day before as Wall Street weighs a global trade war that has cooled in temperature but is still threatening the economy. The S&P 500 was down 2.3% early Thursday, a day after surging 9.5% following President Donald Trump ‘s decision to pause many of his tariffs […]
The Latest: Asia and European shares sink as US tariffs take effect
Facing a global market meltdown, President Donald Trump on Wednesday abruptly backed down on his tariffs on most nations for 90 days but raised his tax rate on Chinese imports to 125%. U.S. markets surged in response. The S&P 500 was up 7.8% in afternoon trading. It had been down earlier in the morning amid worries […]
Wall Street could be headed for a bear market. Here’s what that means
NEW YORK (AP) — Wall Street could soon be in the claws of another bear market as the Trump administration’s tariff blitz fuels fears that the added taxes on imported goods from around the world will sink the global economy. The last bear market happened in 2022, but this decline feels more like the sudden, turbulent bear market of 2020, when […]
The Latest: Stocks plummet as global markets feel the impact of Trump’s tariffs
U.S. stocks careened after President Donald Trump threatened to crank his tariffs higher on Monday. The S&P 500 was down 0.8% in late trading, but only after a day of heart-racing reversals as battered financial markets try to figure out what Trump’s ultimate goal is for his trade war. If it’s to get other countries to agree to trade deals, […]
