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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 […]
No batteries? Thinner packaging? US businesses look for ways to offset tariffs
NEW YORK (AP) — Gadgets sold without batteries. Toys sold in slimmed-down boxes or no packaging at all. More household goods that shoppers need to assemble themselves. These are some of the ways consumer product companies are retooling their wares to reduce costs and avoid raising prices as President Donald Trump levies new import taxes on key […]
If Trump tariffs linger, Va. maritime industry will feel pain, experts say
With President Donald Trump‘s self-branded “Liberation Day” anticipated to bring a rollout of new tariffs April 2 that Trump says will free the United States of dependence on foreign-made goods, many businesses and citizens are wondering what will happen next, with skyrocketing consumer prices and supply costs among their worries. On Monday, the president said he […]
Stock market today: More swerves hit Wall Street as Trump’s “Liberation Day” nears
NEW YORK (AP) — U.S. stocks are swerving through another shaky day of trading Tuesday, with uncertainty still high about just what President Donald Trump will announce about tariffs on his “Liberation Day” coming Wednesday. The S&P 500 was down by 0.2% in afternoon trading after trimming an early drop of 1%. The Dow Jones Industrial Average was down […]
Our View: Trump charts chaotic course in trade wars
Since taking office on Jan. 20 for his second term, President Donald Trump has steered the ship of state full speed on a seemingly chaotic course, mostly navigating an about-face from the Biden administration’s policies and only very occasionally zigzagging away from buffeting winds of public disapproval. In support of making progress on the administration’s […]
Noted economist honored by Trump warns his 25% tariffs could add $4,711 to the cost of a vehicle
WASHINGTON (AP) — Noted economist Arthur Laffer warns in a new analysis that President Donald Trump‘s 25% tariffs on auto imports could add $4,711 to the cost of a vehicle and says the proposed taxes could weaken the ability of U.S. automakers to compete with their foreign counterparts. In the 21-page analysis obtained by The Associated Press, […]
Wall Street tumbles, and S&P 500 drops 2% on worries about slower economy, higher inflation
NEW YORK (AP) — Another wipeout is swamping Wall Street Friday on worries about a potentially toxic mix of worsening inflation and a U.S. economy slowing because of households afraid to spend due to the global trade war. The S&P 500 was down 2% in afternoon trading and on track for one of its worst days of the last two years. It’s […]
Global automakers say Trump’s tariffs will be painful for them and US consumers
FRANKFURT, Germany (AP) — Whatever domestic economic gain comes from U.S. President Donald Trump’s new 25% tax on imported cars – and experts are skeptical – automakers around the world are bracing for a lot of pain. In Japan, South Korea, Mexico, Canada and across Europe, the world’s largest automakers employ millions of people whose livelihoods depend […]
U.S. economy grew 2.4% in the 4th quarter after upgrade in final growth estimate
WASHINGTON (AP) — The U.S. economy expanded at a healthy annual 2.4% pace the final three months of 2024, supported by a year-end surge in consumer spending, the government said Thursday in a slight upgrade of its previous estimate of fourth-quarter growth. But it’s unclear whether the United States can sustain that growth as President Donald Trump wages […]
Canada is not our enemy, Kaine says
U.S. Sen. Tim Kaine, Virginia’s junior Democratic senator, feels strongly that Canada doesn’t pose a national security threat to the United States — a contrast to President Donald Trump, who has threatened the Great White North with tariffs as retaliation for what he says are insufficient efforts at keeping drugs from coming across its border. […]
US cities located in states won by Trump would be most hurt by Canadian tariffs, an analysis finds
WASHINGTON (AP) — The U.S. cities most vulnerable to a trade war with Canada turn out to largely be in the states that helped return Donald Trump to the White House — a sign of the possible political risk he’s taking with his tariff plans. A new analysis released Thursday by the Canadian Chamber of Commerce detailed […]
Stock market today: Wall Street slips following Trump’s latest tariffs, despite solid economic data
NEW YORK (AP) — Wall Street edged lower Thursday after getting pulled in opposite directions as President Donald Trump’s latest tariff escalation creates winners and losers among auto stocks. The S&P 500 slipped 0.3% after drifting between small gains and losses several times through the day. Better-than-expected data on the economy also helped support the market. The Dow Jone[...]
