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tariffs

White House budget director accuses Fed chair of violating building rules in renovation
Jul 10, 2025

White House budget director accuses Fed chair of violating building rules in renovation

  WASHINGTON (AP) — White House budget director Russell Vought suggested in a Thursday letter that Federal Reserve Chair Jerome Powell is in violation of government building rules in the renovation of the Fed’s headquarters. Vought, in a letter he shared on social media, called the initial renovation plans featuring rooftop terrace gardens, VIP dining […]

Trump to put 25% tariffs on Japan and South Korea, new import taxes on 12 other nations
Jul 7, 2025

Trump to put 25% tariffs on Japan and South Korea, new import taxes on 12 other nations

WASHINGTON (AP) — President Donald Trump on Monday set a 25% tax on goods imported from Japan and South Korea, as well as new tariff rates on a dozen other nations that would go into effect on Aug. 1. Trump provided notice by posting letters on Truth Social that were addressed to the leaders of the various […]

U.S. warns of tariff hikes as Trump deadline nears
Jul 7, 2025

U.S. warns of tariff hikes as Trump deadline nears

Trump’s tariff pause ends Wednesday, with U.S. warning trade partners that higher tariffs could take effect Aug. 1 unless new deals emerge.

Analysis shows Trump’s tariffs would cost US employers $82.3 billion
Jul 2, 2025

Analysis shows Trump’s tariffs would cost US employers $82.3 billion

WASHINGTON (AP) — An analysis finds a critical group of U.S. employers would face a direct cost of $82.3 billion from President Donald Trump‘s current tariff plans, a sum that could potentially be managed through price hikes, layoffs, hiring freezes or lower profit margins. The analysis by the JPMorganChase Institute is among the first to measure […]

Reshoring manufacturing is one of President Donald Trump’s priorities
Jun 30, 2025

Reshoring manufacturing is one of President Donald Trump’s priorities

President Donald Trump wants manufacturing jobs to return to the U.S., but it's not as simple as that, experts say

Wall Street rises as oil prices ease and the countdown ticks to the Fed’s decision on interest rates
Jun 18, 2025

Wall Street rises as oil prices ease and the countdown ticks to the Fed’s decision on interest rates

NEW YORK (AP) — U.S. stocks are rising on Wednesday as Wall Street waits to hear where the Federal Reserve may be taking interest rates. The S&P 500 was 0.5% higher in morning trading. The Dow Jones Industrial Average was up 244 points, or 0.6%, as of 10:30 a.m. Eastern time, and the Nasdaq composite was 0.6% higher. […]

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Jun 17, 2025

Bassett CEO Rob Spilman talks tariff strategy, supply chain resilience

Henry County’s Bassett Furniture is taking a solutions-focused approach to protect profitability and support its dealer network amid uncertainty.

Israel-Iran conflict fuels oil surge, economic fears grow
Jun 13, 2025

Israel-Iran conflict fuels oil surge, economic fears grow

  Israel’s attack on Iran Friday has catapulted their long-running conflict into what could become a wider, more dangerous regional war and potentially drive prices higher for both businesses and households. Oil and gold surged and the dollar rose as markets retreated, signaling a flight to investments perceived as more safe. After years of sky-high inflation in the […]

Closeup of a young man in a furniture factory who puts together one part of the sofa with a stapler. AdobeStock photo
Jun 13, 2025

Hooker restructuring targets $25M savings by FY27

Hooker Furnishings launches restructuring to cut $25M in fixed costs by FY27, closing warehouses and expanding overseas operations for savings.

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Jun 12, 2025

Army official says Chinese mineral shortage could impact military equipment

A growing shortage of rare minerals, magnets and metals from China needed for manufacturing military warfighting equipment could lead to the Department of Defense's accessing and sending out military equipment from a stockpile.

FILE - Sales staffs work at an Apple shop in Hanoi, Vietnam Thursday, April 10, 2025. (AP Photo/Hau Dinh, File)
Jun 11, 2025

Inflation barely rose last month as cheaper gas and cars offset some costlier imports

U.S. inflation edged up to 2.4% in May, with groceries rising but gas and rent costs falling. Trump’s tariffs haven’t hit prices hard—yet.

President Donald Trump speaks to reporters after arriving on Air Force One, Tuesday, June 10, 2025, at Joint Base Andrews, Md. (AP Photo/Alex Brandon)
Jun 11, 2025

Trump says US gets rare earth minerals from China and tariffs on Chinese goods will total 55%

President Trump announces a new trade framework with China including 55% U.S. tariffs and rare earth mineral supplies, but key details remain vague.

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