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JPMorgan logs Q1 profit of $14.6 billion as CEO warns of uncertainty over global trade, other events
NEW YORK (AP) — JPMorgan’s net income rose 9% to $14.6 billion in the first quarter and the New York bank beat Wall Street‘s profit and revenue targets, but it’s chief executive warned of global economic uncertainties ahead due to President Donald Trump‘s ongoing trade war and other geopolitical tensions. CEO Jamie Dimon said a strong performance […]
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 […]
Apple has few incentives to start making iPhones in U.S., despite Trump’s trade war with China
SAN FRANCISCO (AP) — President Donald Trump‘s administration has been predicting its barrage of tariffs targeting China will push Apple into manufacturing the iPhone in the United States for the first time. But that’s an unlikely scenario even with U.S tariffs now standing at 145% on products made in China — the country where Apple […]
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 […]
S&P 500 soars 9.5% to one of its biggest gains since WWII after Trump pauses most tariffs
NEW YORK (AP) — Stocks surged to one of their biggest gains since World War II after President Donald Trump paused his tariffs against most other nations, as investors had desperately hoped he would. The S&P 500 soared 9.5% Wednesday. The index is still below where it was when Trump announced his sweeping set of […]
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 […]
Trump’s latest round of tariffs have taken effect — and more retaliation is coming. What we know
NEW YORK (AP) — President Donald Trump has launched tariff wars with almost all of America’s trading partners. And his track record of on-again, off-again new levies continued Wednesday with a 90-day pause for most nations targeted by the latest volley of import taxes, hours after they went into effect. Just after midnight, dozens of countries began facing steeper duties from the U[...]
China raises its retaliatory tariff on the US to 84% as it vows to ‘fight to the end’
BANGKOK (AP) — China is boosting tariffs on American goods to 84% and vowed Wednesday to “fight to the end” in an escalating battle that threatens to disrupt trade between the world’s two largest economies. The new rate, which takes effect Thursday, comes in response to President Donald Trump‘s move to raise the tariff on […]
China says it will ‘fight to the end’ after Trump threatens to impose still more tariffs
BEIJING (AP) — China said Tuesday it would “fight to the end” and take countermeasures against the United States to safeguard its own interests after President Donald Trump threatened an additional 50% tariff on Chinese imports. The Commerce Ministry said the U.S.‘s imposition of “so-called ‘reciprocal tariffs‘” on China is “completely groundless and is a typical unilateral[...]
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, […]
As markets implode, US trading partners puzzle over whether there’s room for negotiations
BRUSSELS (AP) — America’s trading partners wrestled with responses to U.S. President Donald Trump‘s blast of tariff hikes and some planned to send negotiators to Washington, while the head of the European Union’s executive commission offered mutual reduction of tariffs – while warning that retaliation was an option too. “We stand ready to negotiate with the United [&h[...]
5 Virginia companies among 27 firms targeted by China for further trade constraints
BANGKOK (AP) — China announced Friday that it will impose a 34% tariff on imports of all U.S. products beginning April 10, part of a flurry of retaliatory measures following U.S. President Donald Trump‘s “Liberation Day” slate of double-digit tariffs. The new tariff matches the rate of the U.S. “reciprocal” tariff of 34% on Chinese […]
