Tag: USA

A widely followed measure of inflation accelerated slightly less than expected in July on an annual basis as President Donald Trump’s tariffs showed mostly modest impacts.

U.S. President Donald Trump on Thursday said he will nominate Council of Economic Advisers Chairman Stephen Miran to serve out the final few months of a newly vacant seat at the Federal Reserve while the White House seeks a permanent addition to the central bank’s governing board and continues its search for a new Fed chair.

President Donald Trump said the United States will impose a tariff of about 100% on imports of semiconductors but offered up a big exemption – it will not apply to companies that are manufacturing in the U.S. or have committed to do so.

President Donald Trump sent letters to the leaders of 17 major pharmaceutical companies outlining how they should slash U.S. prescription drug prices to match those paid overseas, the White House said on Thursday.

The U.S. economy grew at a much better than expected pace in the second quarter, powered by a turnaround in the trade balance and renewed consumer strength, the Commerce Department reported Wednesday.

“THE AUGUST FIRST DEADLINE IS THE AUGUST FIRST DEADLINE — IT STANDS STRONG, AND WILL NOT BE EXTENDED. A BIG DAY FOR AMERICA!!!” Trump wrote on Truth Social on Wednesday morning.

U.S. and Chinese officials began a second day of talks in Stockholm on Tuesday to resolve longstanding economic disputes and step back from an escalating trade war between the world’s two biggest economies.

President Donald Trump said Monday he is reducing the 50-day deadline he gave Russian President Vladimir Putin to either reach a peace deal with Ukraine or face massive “secondary tariffs” on Moscow’s trade partners.

U.S. senators from both major parties plan to introduce bills this week targeting China over its treatment of minority groups, dissidents and Taiwan, emphasizing security and human rights as President Donald Trump focuses on trade with Beijing.

President Donald Trump announced Sunday that the U.S. reached a trade deal with the European Union, following pivotal discussions with European Commission President Ursula von der Leyen days before the Aug. 1 tariff deadline.

The number of Americans filing new applications for jobless benefits unexpectedly fell last week, pointing to stable labor market conditions, though sluggish hiring is making it harder for many laid-off workers to land new opportunities.

Mortgage rates rose last week to the highest level in four weeks, but mortgage demand didn’t really move. Total mortgage application volume increased 0.8% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.

President Donald Trump on Tuesday stateside announced a “massive” deal with Japan that includes “reciprocal” tariffs of 15% on the country’s exports to the U.S., with auto duties reportedly being lowered to that level as well.

China’s exports of rare-earth magnets to the United States in June surged more than seven times from the prior month, as American firms clamor to get hold of the critical elements following a preliminary Sino-U.S. trade deal.

After an earlier pullback, consumers picked up their spending in June despite anxiety over tariffs and the state of the U.S. economy.

U.S. producer prices were unexpectedly unchanged in June as an increase in the cost of goods because of tariffs on imports was offset by weakness in services.

Consumer prices rose in June as President Donald Trump’s tariffs began to slowly work their way through the U.S. economy.

China’s exports regained momentum in June as firms rushed out orders to capitalise on a fragile tariff truce between Beijing and Washington ahead of a looming deadline next month, with shipments to Southeast Asian transit hubs particularly strong.

President Donald Trump on Saturday threatened to impose a 30% tariff on imports from Mexico and the European Union starting on August 1, after weeks of negotiations with the major U.S. trading partners failed to reach a comprehensive trade deal.

Oil prices rose on Monday to their highest level in three weeks, as investors eyed further U.S. sanctions on Russia that may affect global supplies, while more oil imports by China also offered support along with signs of tighter supply.