U.S. economy News

Trump Temporarily Lowers Tariffs for Most Countries, Raises Them for China

U.S. President Donald Trump said on Wednesday he would temporarily lower new tariffs on many countries, even as he raised them further on imports from China, in a sudden reversal that sent U.S. stocks sharply higher. Trump’s announcement came less …

Insurance Industry Contemplates Knock-On Effect of Tariffs to Claims, Consumers

Insurance industry analysts, economists, and trade associations have continued to look at the potential effect of President Trump’s tariffs. About a month after Trump looked to impose steep tariffs on China, Mexico, and Canada, the administration on April 2 applied …

Trump’s Tariff ‘Medicine’ Engulfs Markets, US Stocks in Spin After Talk of Pause

resident Donald Trump’s sweeping tariff plans battered global markets again on Monday after he said foreign governments would have to pay “a lot of money” to get the levies removed, while U.S. stocks got a brief lift on hints of …

North American Companies Brace for Fallout From Tariffs

For North American companies, the “wait and see” moment on tariffs is over. U.S. President Donald Trump imposed a 25% levy on goods from Canada and Mexico, along with a 10% tariff on China, in what could be the opening …

GM, Ford Fall on Trump Tariffs Seen Adding $3,000 to Car Prices

Shares of US automakers tumbled on worries that a new round of tariffs imposed by President-elect Donald Trump will cause sticker prices to soar even further. Trump said that he would impose additional 10% levies on goods from China and …

US Inflation Report Offers a Break for Price-Weary Consumers

US consumers, unaccustomed to falling prices for the past several years, were able to breathe a little bit easier last month as many necessities — from groceries to gasoline to car insurance — became cheaper. Even many discretionary goods and …

Reducing Inequality, Hiking Minimum Wage Could Boost U.S. Economy: White House

Boosting enforcement of antidiscrimination and antitrust laws, raising the federal minimum wage and higher unionization rates could substantially boost U.S. economic growth, a new report by President Joe Biden’s top economic advisers concludes. The annual Economic Report, prepared by the …