May 26 U.S. delays threatened 50% tariff on the European Union until July, Trump says By Seung Min Kim, Associated Press The agreement came after a call Sunday with Ursula von der Leyen, the president of the European Commission, who had told Trump that she “wants to get down to serious negotiations,” according to the U.S. president’s retelling. Continue reading
May 23 Stock markets tumble after Trump threatens tariffs against European Union and Apple By Stan Choe, Associated Press Trump threatened the tariffs before the U.S. stock market opened, saying on his Truth Social platform that trade talks with the European Union “were going nowhere” and that “straight 50%” tariffs could go into effect on June 1. Continue reading
May 21 Trump’s tariffs will test U.S. allies at G7 finance ministers’ summit By Christopher S. Rugaber, Associated Press The annual meetings of the Group of 7 finance ministers, known as the G7, are typically congenial and in previous years have produced joint commitments to combat inflation and counter the COVID pandemic. There may be less agreement this year. Continue reading
May 19 Watch 8:01 What Trump’s tariffs mean for the everyday products we rely on By Paul Solman, Ryan Connelly Holmes Nearly one out of every three physical products made in the world today comes from China, including many items we use in our daily lives. Economics correspondent Paul Solman invites us into his home for a look at what tariff… Continue watching
May 19 Stocks, bonds and the dollar drift after the latest downgrade to the U.S. credit rating By Stan Choe, Associated Press After recovering from an initial jolt, U.S. stocks drifted through quiet trading following the latest reminder that the U.S. government may be hurtling toward an unsustainable mountain of debt. Continue reading
May 19 Economists say Trump’s tariffs are unpredictable and still working their way through the system By Paul Wiseman, Christopher Rugaber, Anne D'Innocenzio, Associated Press Trump’s tariffs are still huge, unpredictable and working their way through the system. Continue reading
May 18 Bessent acknowledges Trump’s tariffs may mean shoppers will pay more at Walmart By Josh Boak, Associated Press Treasury Secretary Scott Bessent acknowledged Sunday that Walmart, the largest U.S. retailer, may pass along some of the costs from President Donald Trump’s tariffs to its shoppers through higher prices. Continue reading
May 18 Analysis: Trump’s truce with China on tariffs comes at a cost to U.S. credibility By Zongyuan Zoe Liu, Council on Foreign Relations U.S.-China trade talks in Geneva resulted in a temporary slash of tariff rates, but the ripple effect of this tit-for-tat escalation won’t disappear anytime soon. Continue reading
May 18 Watch 5:54 Consumer confidence hits near-record low amid worries over Trump trade policy By Ali Rogin, Veronica Vela Treasury Secretary Bessent seemed to acknowledge Sunday that President Trump’s tariffs may lead to some prices going up, but downplayed fears that it would fuel inflation. This past week, a closely watched measure of consumer sentiment slid to a near-record… Continue watching
May 17 ‘I’ll be watching’: Trump tells Walmart to eat the cost of his tariffs instead of raising prices By Josh Boak, Associated Press As Trump has jacked up import taxes, he has tried to assure a skeptical public that foreign producers would pay for those taxes and that retailers and automakers would absorb the additional expenses. Most economic analyses are deeply skeptical of those… Continue reading