Breaking News: Economy
In a switch, Trump approves of the Fed’s decision to hold interest rates steady
U.S. President Donald Trump looks on as he signs an executive order in the Oval Office at the White House in Washington, U.S., Jan. 31, 2025. Carlos Barria | Reuters President Donald Trump agreed with the Federal Reserve for its decision last week to leave interest rates unchanged, an early pivot from his previous demand […]
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As markets buckle up for Trump tariffs, these global sectors brace for a rough ride
U.S. President Donald Trump this weekend announced hefty tariffs on his country’s three biggest trading partners, leaving investors scrambling to position themselves for a global trade war. Canada and Mexico face 25% duties on their exports to the U.S., with a lower 10% levy imposed on Chinese goods. Canada has already responded with retaliatory tariffs […]
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Ontario to remove U.S. alcohol from shelves after Trump’s tariffs announcement
Ontario Premier Doug Ford speaks during a campaign stop at Walker Construction in Niagara Falls, Ontario, Canada, January 31, 2025. Carlos Osorio | Reuters Ontario will pull all American alcohol from its government-run liquor shelves beginning Tuesday in response to U.S. President Donald Trump’s 25% tariffs on Canadian imports. Outlets of the Liquor Control Board […]
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‘Tariffs are not the answer’: Industry and corporate leaders react to Trump duties on Mexico, Canada and China
Aerial view of trucks queueing next to the border wall before crossing to the United States at Otay commercial port in Tijuana, Baja California state, Mexico, on Jan. 22, 2025. Guillermo Arias | AFP | Getty Images Industry and corporate leaders are weighing in after U.S. President Donald Trump followed through with his threat to […]
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Inside the planning for Trump’s new tariffs war, from the biggest company to the smallest family business
President Trump is planning to impose 25% tariffs on Mexico and Canada on Saturday, and 10% tariffs on China, making a signature campaign promise and core economic philosophy of his administration reality, with implications for everything from oil to autos to the U.S consumer. But for many companies across the economy, the preparations for a […]
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Here’s how tariffs on Canada, China and Mexico may impact U.S. consumers
Key Points President Donald Trump is imposing a 25% tariff on Canada and Mexico and a 10% tariff on China starting on Saturday, the White House said. Tariffs will likely result in higher prices for U.S. consumers, both directly and indirectly, economists say. Tariffs are a tax on foreign imports that are paid by the […]
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Trump tariffs on Canada, Mexico and China begin Saturday, White House says
U.S. President Donald Trump signs executive orders in the Oval Office at the White House in Washington, U.S., Jan. 30, 2025. Elizabeth Frantz | Reuters In an apparent ending to weeks of intense speculation, the White House confirmed Friday that President Donald Trump will be leveling aggressive tariffs this weekend on major U.S. trading partners. […]
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Stocks making the biggest moves midday: Colgate-Palmolive, Atlassian, Deckers, Vertex and more
Check out the companies making headlines in midday trading: Colgate-Palmolive — Shares slipped 4% after the household products company reported fourth-quarter revenue that missed analysts’ expectations and forecast weak 2025 sales given negative effects from foreign exchange rates. KLA Corporation — The stock climbed 2% after the semiconductor company posted a top- and bottom-line beat […]
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Key Fed measure shows core inflation at 2.8%, in line with expectations
Customers shop for food at a grocery store on Jan. 15, 2025 in Chicago, Illinois. Scott Olson | Getty Images News | Getty Images Inflation closed out 2024 on a strong note, as a price gauge the Federal Reserve focuses on came in well above the central bank’s target. The personal consumption expenditures price index […]
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GDP grew at a 2.3% pace in the fourth quarter, less than expected
U.S. economic growth slowed a bit more than expected in the final three months of 2024, the Commerce Department reported Thursday. Gross domestic product, a measure of all the goods and services produced across the sprawling U.S. economy during the period, showed that the economy accelerated at a 2.3% annualized pace in the fourth quarter. […]
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