Tag: USA

U.S. President Donald Trump substantially raised tariffs on steel and aluminum imports on Monday to a flat 25% “without exceptions or exemptions” in a move he hopes will aid the struggling industries in the United States but which also risks sparking a multi-front trade war.

Shares in European and Asian steelmakers fell on Monday after U.S. President Donald Trump said he would introduce 25% tariffs on all steel and aluminium imports within hours in addition to existing metals duties.

U.S. job growth slowed more than expected in January, likely restrained by wildfires in California and cold weather across much of the country, but a 4.0% unemployment rate probably gives the Federal Reserve cover to hold off cutting interest rates at least until June.

China’s retaliatory tariffs on the United States may cause U.S. oil exports to decline in 2025 for the first time since the COVID-19 pandemic, after growth plateaued last year.

U.S. businesses created a solid 183,000 new jobs in January, paycheck company ADP said, in a sign a cooling labor market still has plenty of mojo.

Shares of vaccine companies fell on Tuesday after a Senate panel voted to advance Robert F. Kennedy Jr.’s nomination to lead the Department of Health and Human Services to the full chamber. 

President Donald Trump on Monday ordered the Treasury and Commerce Departments to create a U.S. sovereign-wealth fund—a first for the nation.

China imposed targeted tariffs on American imports on Tuesday and put several U.S. companies, including Google, on notice for possible sanctions, in a measured response to the sweeping duties on Chinese imports imposed by President Donald Trump.

Beijing is readying an opening bid to try to head off greater tariff increases and technology restrictions from the Trump administration—a sign that China is eager to get trade talks going.

Oil futures were up sharply Monday after President Trump over the weekend slapped tariffs on Canada, Mexico and China, sparking worries over U.S. crude imports, though upside was limited by concerns a trade war would dent demand.

Tariffs announced Saturday by the Trump administration of 25% on goods from Canada and Mexico as well as an additional 10% on products from China are expected to have a profound impact on the global automotive industry.

The pace of U.S. economic expansion slowed during the fourth quarter, according to the latest estimates released Thursday.

U.S. crude oil inventories increased for the first time in 10 weeks as exports fell and refineries lowered their capacity use, according to data released Wednesday by the U.S. Energy Information Administration.

Initial jobless claims fell by 16,000 to 207,000 in the week ended January 25, the Labor Department said Thursday. It’s the lowest level in in three weeks.

US President Donald Trump announced sweeping tariffs on Colombia before abruptly pulling the threat after reaching a deal on the return of deported migrants, a move that rattled global markets in the space of several hours.

U.S. President Donald Trump on Tuesday vowed to hit the European Union with tariffs and said his administration was discussing a 10% punitive duty on Chinese imports because fentanyl is being sent from China to the U.S. via Mexico and Canada.

Europe must “be prepared” and anticipate the potential trade tariffs of newly inaugurated U.S. President Donald Trump, European Central Bank President Christine Lagarde told CNBC on Wednesday.

OpenAI CEO Sam Altman, SoftBank CEO Masayoshi Son, and Oracle Chairman and CTO Larry Ellison joined President Trump to announce an investment of as much as $500 billion in artificial intelligence infrastructure in the U.S.

An expected decline in interest rates could be stalled if the prospective tariffs of Donald Trump’s second White House administration bleed into markets and shore up inflation, UBS CEO Sergio Ermotti warned Tuesday.

President Donald Trump signaled plans to impose previously threatened tariffs of as a much as 25% on Mexico and Canada by Feb. 1, reiterating his contention that America’s closest neighbors and largest trading partners are letting undocumented migrants and drugs flood into the US.