Tag: USA

The U.S. economy expanded by more than initially reported in the second quarter, adding to the uncertainty ahead of the Federal Reserve’s policy-meeting next month.

U.S. President Donald Trump’s doubling of tariffs on imports from India to as much as 50% took effect as scheduled on Wednesday, dealing a serious blow to ties between the two countries that became strategic partners after the turn of this century.

The European Union is aiming to expedite legislation to remove all tariffs on U.S. industrial goods by the end of the week, a demand made by President Donald Trump before the U.S. will lower its duties on the bloc’s automobile exports, Bloomberg News reported on Wednesday.

U.S. President Donald Trump on Monday stateside warned of steeper tariffs on China if exports of rare-earth magnets were curbed, threatening a precarious trade truce between the world’s two largest economies.

The federal government could take stakes in other U.S. semiconductor companies or even move to other industries, White House economic adviser Kevin Hassett told CNBC in an interview on Monday following its stake in Intel.

Brokerages are adding a September rate cut to their forecasts after Federal Reserve Chair Jerome Powell signaled the central bank could ease policy next month.

The number of Americans filing for first-time unemployment benefits rose more than expected last week, pointing to a further weakening of the country’s labor market amid tariff-fueled economic uncertainty.

The U.S. and European Union on Thursday revealed fresh details about their trade framework, including on hotly contested and anticipated pharma and semiconductor tariffs.

Japan’s exports posted the biggest monthly drop in about four years in July, government data showed on Wednesday, as the impact of U.S. tariffs intensified, raising concerns about the outlook for the export-reliant economy.

Cryptocurrency firm Tether has appointed former White House crypto policy executive Bo Hines as a strategic adviser to help steer its expansion in the United States, the company said on Tuesday.

European stocks edged higher on Tuesday as global markets reacted positively to the outcome of talks between U.S. President Donald Trump, Ukrainian President Volodymyr Zelenskyy and European leaders at the White House on Monday.

White House trade advisor Peter Navarro warned India about “cozying up” to Russia and China through oil purchases in an op-ed published Monday in the Financial Times.

Ukrainian President Volodymyr Zelenskiy and his European allies arrive in Washington on Monday anxious to find out what Donald Trump committed to at his summit with Vladimir Putin and apprehensive that he’ll force Kyiv into making unpalatable concessions.

Retail sales in July rose 0.5% from the prior month, a rise that was slightly below Wall Street forecasts but a sign the consumer continues to steady the ship after a dramatic drop in spending this spring.

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.