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The tariff-driven inflation that economists feared begins to emerge
WASHINGTON (AP) — Inflation rose last month to its highest level since February as President Donald Trump’s sweeping tariffs push up the cost of everything from groceries and clothes to furniture and appliances. Consumer prices rose 2.7% in June from a year earlier, the Labor Department said Tuesday, up from an annual increase of 2.4% […]
US manufacturers are stuck in a rut despite subsidies from Biden and protection from Trump
WASHINGTON (AP) — Democrats and Republicans don’t agree on much, but they share a conviction that the government should help American manufacturers, one way or another. Democratic President Joe Biden handed out subsidies to chipmakers and electric vehicle manufacturers. Republican President Donald Trump is building a wall of import taxes — tariffs — around the […]
European trade ministers pledge unity after Trump’s surprise 30% tariffs
BRUSSELS (AP) — European trade ministers were hopeful Monday for a negotiated trade deal after President Donald Trump announced 30% tariffs on the European Unio n, but also expressed resolve in preparing countermeasures if talks break down. The ministers met Monday in Brussels following Trump’s surprise announcement of such hefty tariffs, which could have repercussions for governments, [[...]
Wall Street hangs near its record as doubts continue about Trump’s proposed tariffs
NEW YORK (AP) — U.S. stock indexes hung near their records on Monday following President Donald Trump’s latest updates to his tariffs, as speculation continues on Wall Street that he may ultimately back down on them. The S&P 500 edged up by 0.1% to pull within 0.2% of its all-time high set on Thursday. The […]
Wall Street is mixed amid Trump’s new tariff deadlines
Wall Street opens flat as investors digest Trump’s latest tariffs on Japan, South Korea, and others set to begin Aug. 1 despite Monday’s dip.
Stocks fall as Trump trade deadline, Musk feud rattle Wall St.
Stocks on Wall Street closed broadly lower Monday as the White House stepped up pressure on major trading partners to make deals before punishing tariffs imposed by the U.S. take effect. The S&P 500 fell 0.8% for its biggest loss since mid-June. The benchmark index remains near its all-time high set last week. The Dow […]
US job openings in May hit 7.8 million in a continuing display of labor market resilience
WASHINGTON (AP) — U.S. job openings rose unexpectedly in May, a sign that the American labor market remains resilien t in the face of high borrowing costs and uncertainty over U.S. economic policy. U.S. employers posted 7.8 million vacancies in May, the Labor Department reported Tuesday, up from 7.4 million in April. Economists had expected a slight […]
Trump ramps up attacks on the Federal Reserve but Powell sticks to ‘wait and see’ stance
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell on Tuesday stuck to his position that the central bank will keep its key rate on hold while it waits to see how President Donald Trump’s tariffs effect the economy, despite the steady stream of criticism from the White House, which wants lower borrowing costs. Powell, speaking in Sintra, Portugal, at a conference […]
Americans turn cautious and retail sales slide after a spring spending surge to beat tariffs
U.S. retail sales fell 0.9% in May as consumers pulled back following Trump’s tariff hikes, with auto sales taking the biggest hit.
US stocks drift near their record following an encouraging inflation update
U.S. stocks hover near record highs as May inflation data eases concerns over Trump tariffs. Investors watch for broader U.S.-China trade deal progress.
Trump’s promised steel and aluminum tariffs go into effect
U.S. President Donald Trump hiked nearly all steel and aluminum tariffs to 50% in a move that’s set to hammer businesses from automakers to home builders, and likely to increase prices for consumers.
Wall Street rallies as its roller-coaster ride whips back upward after Trump pauses more tariffs
Wall Street rallies after Trump postpones 50% tariffs on EU goods. S&P 500 up 1.6%, Dow adds 529 points, Nasdaq up 2%.
