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Trump says high tariffs may have prevented the Great Depression. History says different
WASHINGTON (AP) — In the early days of the Great Depression, Rep. Willis Hawley, a Republican from Oregon, and Utah Republican Sen. Reed Smoot thought they had landed on a way to protect American farmers and manufacturers from foreign competition: tariffs. President Herbert Hoover signed the Smoot-Hawley Tariff Act in 1930, ev[...]
Wall Street points to gains as global markets rebound on tariff roller coaster
World shares and U.S. futures advanced Tuesday, led by gains in Tokyo where the Nikkei 225 shot up just over 6% as markets settled after the shocks from President Donald Trump ‘s tariff hikes. Japan’s Nikkei newspaper reported Tuesday that U.S. Treasury Secretary Scott Bessent would lead trade negotiations with the[...]
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 tariffs̵[...]
In conservative Alabama, Republicans are cheering for Trump – with some quiet concerns and caveats
BIRMINGHAM, Ala. (AP) — On a day when stock markets around the world dropped precipitously, Alabama Republican Party Chairman John Wahl led a celebration of the president whose global tariffs sparked the selloff. With no mention of the Wall Street rollercoaster and global economic uncertainty, Wahl declared his state GOPR[...]
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[...]
Chevron ordered to pay more than $740 million to restore Louisiana coast in landmark trial
POINTE À LA HACHE, La. (AP) — Oil company Chevron must pay more than $740 million to restore damage it caused to southeast Louisiana’s coastal wetlands, a jury ruled on Friday following a landmark trial more than a decade in the making. The case was the first of dozens of pending lawsuits to reach trial in Louisiana [[...]
Trump says he’s giving TikTok another 75 days to find a US buyer
WEST PALM BEACH, Fla. (AP) — President Donald Trump on Friday said he is signing an executive order to keep TikTok running in the U.S. for another 75 days to give his administration more time to broker a deal to bring the social media platform under American ownership. Congress had mandated that the platform be […]
Federal Reserve chief says Trump tariffs likely to raise inflation and slow US economic growth
ARLINGTON, Va. (AP) — The Trump administration’s expansive new tariffs will likely lead to higher inflation and slower growth, and the Federal Reserve will focus on keeping price increases temporary, Fed Chair Jerome Powell said Friday. Powell said that the tariffs, and their likely impacts on the economy and inflatio[...]
Sell-off worsens worldwide and Dow drops 1,200 after China retaliates against Trump tariffs
NEW YORK (AP) — Stock markets worldwide are careening even lower Friday after China matched President Donald Trump‘s big raise in tariffs in an escalating trade war. Not even a better-than-expected report on the U.S. job market, which is usually the economic highlight of each month, was enough to stop the slide. T[...]
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 t[...]
US electric vehicle industry is collateral damage in Trump’s escalating trade war
DETROIT (AP) — President Donald Trump‘s tariff blitz has sent shock waves throughout every aspect of the global economy, including the auto sector, where multi-billion-dollar plans to electrify in the United States are especially at risk. Here’s what consumers should know about the impact of tariffs on electric v[...]
US added a surprising 228,000 jobs last month, as the American economy shows resilience amid Trump’s trade wars
WASHINGTON (AP) — U.S. employers added a surprising 228,000 jobs last month, as the American labor market continues to show resilience as President Donald Trump wages trade wars, purges federal workers and deports immigrants working in the United States illegally. The unemployment rate ticked up to 4.2%. The hiring numbers wer[...]
