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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 says things are ‘going very well’ after worst stock market drop in years over tariffs
WASHINGTON (AP) — President Donald Trump offered a rosy assessment after the stock market dropped sharply Thursday over his tariffs, saying, “I think it’s going very well.” “The markets are going to boom, the stock is going to boom, the country is going to boom,” he said when asked about the market as he left the White […]
Trump announces sweeping new tariffs to promote US manufacturing, risking inflation and trade wars
WASHINGTON (AP) — President Donald Trump declared on Wednesday a 10% baseline tax on imports from all countries and higher tariff rates on dozens of nations that run trade surpluses with the United States, threatening to upend much of the architecture of the global economy and trigger broader trade wars. Trump held up a chart […]
Europe says that it holds a lot of trade cards on the eve of Trump’s tariff ‘Liberation Day’
BRUSSELS (AP) — A top European Union official warned the U.S. on Tuesday that the world’s biggest trade bloc “holds a lot of cards” when it comes to dealing with the Trump administration’s new tariffs and has a good plan to retaliate if forced to. U.S. President Donald Trump has promised to roll out taxes on […]
Port of Charleston adds direct connection to Mediterranean market
The Port of Charleston’s new ocean carrier deployments will be increasing from 25 to 29 weekly services. The services will continue to include prime markets such as Asia and Europe, according to an SC Ports news release. Two of the weekly services will be first-in-calls from Asia, one of which being the fastest transit from […]
Smithfield separates from European arm
Smithfield Foods announced Tuesday that its European operations have been carved into an independent subsidiary. The action takes place a little over a month after Smithfield’s Chinese parent company, WH Group, which has its headquarters in Hong Kong, announced plans to take the company public in the United States. Smithfield Europe, now to be called […]
McLean-based Appian opens office in Seville, Spain
Appian Corp. opened its first Technology Innovation Center in Seville, Spain, the McLean-based cloud computing firm announced last week. “Seville provides the ideal environment for Appian to establish its technology hub, grow our team and serve our regional customers and partners,” Víctor Ayllón, Appian’s vice president of automation, said in a statement. “The new Appian [...]
Va. companies aid Ukraine, pull business from Russia
McLean-based Mars Inc. and other companies with major Virginia presences are responding to the war between Russia and Ukraine, chiefly by helping employees who live in the Eastern European nation and sending other humanitarian aid to Ukraine, as well as suspending business dealings in Russia, a measure taken by many U.S. companies in recent days. […]
