Tag: US

US President Donald Trump welcomed Chinese President Xi Jinping to the White House on Thursday, with talks on trade and ​artificial intelligence and the growing strategic rivalry between the countries all in the spotlight during an elaborate state visit.

Iran’s Foreign Minister Abbas Araghchi has proposed reopening the strategically vital Strait of Hormuz and resuming nuclear talks with the U.S. within seven days if the Trump administration accepts its conditions.

The US Federal Reserve is working on a plan to raise the asset thresholds that trigger stricter oversight of big banks, four people with knowledge of the ​matter said, which would allow some lenders to avoid costly additional regulation and potentially spur consolidation.

It would be “reasonable” to expect another interest rate hike from the Federal Reserve by the end of the year, New York Federal Reserve President John Williams said on Thursday.

US single-family homebuilding increased in August, but a drop in permits for future construction suggested the improvement was likely temporary as rising inflation because of the war ​in the Middle East boosts mortgage rates.

Applications for US unemployment benefits fell to the lowest since July and recurring claims dropped to a more than two-year low, adding to signals of labor market stability.

President Donald Trump can now impose tariffs of up to 100% on countries purchasing oil from Russia, putting China and India squarely in the crosshairs.

The Federal Reserve raised interest rates on Wednesday in an effort to speed up the return to price stability. But while policymakers signaled that more tightening was ahead, they penciled in only a limited number of rate hikes in the coming months—even with inflation expected to remain above target for years.

China’s holdings of US Treasuries have fallen to the lowest since August 2008, underlining a shift in Beijing’s management of its reserves and a deepening rift between the world’s two largest economies.

Canadian Prime Minister Mark Carney on Thursday welcomed the European Union’s ambition to make Ottawa an associate member of the 27-nation bloc and said Canadian lawmakers would ultimately vote on the final structure of the alliance.

Oil retreated Wednesday after a report said U.S. energy inventories rose last week, with investors assessing the latest developments in Middle East conflict and associated supply risks.

Canada’s counter-tariffs on various US goods take effect on Tuesday, in response to US tariffs on Canadian products imposed after trade talks between the two neighbours collapsed last month.

Private U.S. companies added jobs at a slightly slower-than-expected pace in August, with gains concentrated heavily in health care and a few other industries, ADP reported Wednesday.

Excluding food and energy, the personal consumption expenditures price index showed a 3.4% annual rate after rising 0.3% for the month, both in line with Dow Jones consensus. The core reading was the highest since October 2023.

President Donald Trump said Wednesday that Iran had informed him there would be no tolls, insurance costs, or charges of any kind for ships looking to pass through the strategically vital Strait of Hormuz.

News that the U.S. and Iran had reached an interim deal may have brought some initial relief to markets, but fresh uncertainty emerged on Friday after planned follow-up talks in Switzerland were called off, underscoring the challenges of turning the agreement into a lasting peace settlement.

Oil prices declined Thursday after President Donald Trump signed ​a deal ​with his Iranian counterpart Masoud Pezeshkian to end the ​war in the Middle East, while the International Energy Agency flagged a supply glut next year.

Wholesale prices rose more than expected in May, indicating that pipeline inflationary pressures are percolating higher, the Bureau of Labor Statistics reported Thursday.

Trump threatens to take key Iranian island: President Donald Trump warned Thursday morning the US will hit Iran “VERY HARD TONIGHT” and threatened to take Kharg Island, which handles roughly 90% of Iran’s crude exports.

Inflation accelerated in May as rising energy costs contributed to pain for consumers, though underlying pressures were less intense.