Trade
Why the Panama Canal is a big, long-term prize in Trump’s global trade war
The Panama Canal has spent the past few years battling extreme weather, with the El Niño phenomenon and severe drought leading to a water-level crisis. Now, it’s President Trump’s trade war that is threatening the global trade gateway. A critical passage for U.S. East Coast bound ocean freight container traffic, the Panama Canal is facing […]
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Footwear giants Nike, Adidas and others ask Trump for tariff exemption
A man shops for shoes at a Nike outlet store in Los Angeles on April 10, 2025. Frederic J. Brown | Afp | Getty Images America’s largest shoe brands are asking President Donald Trump for a tariff reprieve. The Footwear Distributors and Retailers of America trade group sent a letter to the White House this […]
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Here’s how China could retaliate against U.S. tariffs
China is the world’s second-largest economy and second-largest importer of U.S. goods. Entities in China hold at least $784 billion in U.S. federal debt. The country also controls much of the world’s rare element supply, which is vital for manufacturing technology. China could weaponize these assets if an all-out trade war breaks out, to the […]
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China looks set to turn to a tariff-proof sector as U.S. trade war bites: K-pop
Epex at the MBC Every1 variety show “Weekly Idol” at MBC Dream Center on April 23, 2024, in Goyang, South Korea. Mbcplus | Imazins | Getty Images Locked in a trade war with the United States and struggling with weak domestic consumption, China looks set to make a U-turn on an unlikely sector: K-pop. It […]
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Trump plans to unveil federal budget proposal on Friday
U.S. President Donald Trump at the White House on May 1, 2025 in Washington, DC. Andrew Harnik | Getty Images News | Getty Images U.S. President Donald Trump plans to unveil his budget proposal for the 2026 fiscal year on Friday and send it to Congress, according to a White House official. The annual White House budget request includes economic forecasts as well as detailed proposals about how […]
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U.S. Chamber of Commerce asks Trump for tariff exclusions to ‘stave off a recession’
The U.S. Chamber of Commerce is urging the Trump administration to immediately implement a “tariff exclusion process” in order to keep the U.S. economy from falling into a recession and inflicting “irreparable harm” on small businesses. In a letter first obtained by CNBC, the massive business lobbying group asked key Trump trade officials to automatically […]
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Bank of Japan holds rates steady for second straight meeting as Trump tariffs threaten exports
The Bank of Japan (BOJ) headquarters in Tokyo, Japan, on Thursday, Oct. 31, 2024. The Bank of Japan kept its benchmark interest rate unchanged. Getty Images Japan’s central bank held its policy rate at 0.5% Thursday, for a second straight meeting, as U.S. President Donald Trump’s tariffs weighed on the country’s economic outlook. The move […]
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Auto giants ditch financial guidance as industry reels from Trump tariff chaos
New vehicles displayed for sale at a General Motors Co. Chevrolet dealership in Miami, Florida, US, on Saturday, April 5, 2025. Bloomberg | Bloomberg | Getty Images European auto giants reported a sharp drop in first-quarter profit, and many suspended or cut full-year financial guidance, partially attributing the industry pain to U.S. President Donald Trump’s […]
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Trump trade advisor Navarro brushes off GDP drop: ‘We really like where we’re at now’
White House trade advisor Peter Navarro brushed off concerns Wednesday about the unexpected drop in U.S. gross domestic product last quarter, saying, ‘We really like where we’re at now,” and pointing to a surge in new domestic investment. “I got to say just one thing about today’s news, that’s the best negative print I have ever […]
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Volkswagen posts 37% drop in first-quarter profit, says Trump tariffs could weigh on outlook
An American flag flies beyond the Volkswagen logo displayed at a Volkswagen dealership on April 4, 2025 in Pasadena, California. Mario Tama | Getty Images News | Getty Images German auto giant Volkswagen on Wednesday reported a substantial drop in first-quarter profit as the carmaker navigates the disruptive impact of U.S. tariffs on the global […]
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