The White House issued a statement saying that US President Trump announced an increase in tariffs on imported steel, aluminum, and their derivatives from 25% to 50%. The tariffs will take effect at 12:01 AM Eastern Time on June 4,…
A top economic advisor to President Donald Trump expressed confidence Thursday that court rulings throwing out aggressive tariffs will be overturned on appeal. Kevin Hassett, director of the National Economic Council, said in an interview that he fully believes the…
The U.S. Court of International Trade ruled on the 28th to block the implementation of the Trump administration’s executive orders imposing tariffs on multiple countries under the International Emergency Economic Powers Act. According to the court’s ruling, the International Emergency…
Revised data released by the U.S. Department of Commerce on May 29th showed that U.S. gross domestic product (GDP) contracted by 0.2% quarter-over-quarter on an annualized basis in the first quarter of 2025, an upward revision of 0.1 percentage point…
Sportswear giant Adidas on Tuesday said that U.S. President Donald Trump’s tariffs would result in cost hikes for all its U.S. products. The company said it did not yet know by how much it would boost prices, also noting that…
President Donald Trump’s public criticism of Fed Chair Jerome Powell has fueled concern that he will try to fire the central bank chief, but even that historic and legally questionable move may not be enough for Trump to bend monetary…
The European Union will pause the adoption of its retaliatory tariffs on a swathe of U.S. goods for 90 days, European Commission President Ursula von der Leyen said, a day after the White House issued a reprieve on most of…
LONDON — Some investors are expressing a growing optimism about the U.K.’s economic outlook despite the country’s long-standing structural weaknesses, as its neighbors in the European Union deepen their trade dispute with the United States. That upbeat tone wasn’t reflected…
After largely staying out of the Federal Reserve’s business during his first two months in office, President Donald Trump is pushing the central bank to cut interest rates as a backstop for his tariff plans. “The Fed would be MUCH…
The UCLA Anderson Forecast, citing substantial changes to the economy from policies of the Trump administration, issued its first-ever “recession watch” on Tuesday. UCLA Anderson, which has been issuing forecasts since 1952, said the administration’s tariff and immigration policies and…
