Jul 30 WATCH: Powell speaks after Fed keeps interest rates unchanged even as Trump demands cut By Chris Rugaber, Associated Press The Federal Reserve is leaving its key short-term interest rate unchanged for the fifth time this year, brushing off repeated calls from President Donald Trump for a cut. Continue reading
Jul 30 U.S. economy expanding 3% in second quarter, bounding back but growth masks economic uncertainty from Trump’s tariffs By Paul Wiseman, Associated Press The Commerce Department reported Wednesday that America gross domestic product — the nation's output of goods and services — rebounded after falling at a 0.5% clip from January through March. The first-quarter drop was mainly caused by a surge in… Continue reading
Jul 30 Trump announces 25% tariff on ‘our friend’ India for buying Russian oil, warns of other penalties By Josh Boak, Associated Press Trump said on Truth Social on Wednesday that India "is our friend" but its "Tariffs are far too high" on U.S. goods. The Republican president added India buys military equipment and oil from Russia, which Trump says has enabled Moscow's… Continue reading
Jul 29 Trump’s tariffs could squeeze U.S. factories and raise costs by up to 4.5%, a new analysis finds By Josh Boak, Paul Wiseman, Associated Press The analysis by the Washington Center for Equitable Growth warns of economic and political costs, especially in swing states with significant manufacturing sectors, like Michigan and Wisconsin. Continue reading
Jul 28 Watch 9:07 EU ambassador breaks down implications of U.S. trade deal: ‘We know where we are going’ By Amna Nawaz, Murrey Jacobson, Dan Sagalyn The announcement of the U.S.-European trade deal marks an important moment in President Trump’s larger battles over tariffs and trade. But it’s generating mixed reactions in Europe and in the U.S. Amna Nawaz discussed more with Jovita Neliupšienė, the European… Continue watching
Jul 28 Trump is getting the world economy he wants — but the risk to growth could spoil his victory lap By Josh Boak, Paul Wiseman, Associated Press Trading partners from the European Union to Japan to Vietnam appear to be acceding to the president’s demands to accept higher costs — in the form of high tariffs — for the privilege of selling their wares to the United… Continue reading
Jul 28 Tariffs threaten Asian beauty product boom By Mae Anderson, Associated Press In the United States, Korean cosmetics, or K-beauty for short, have dominated the trend. But South Korea is facing a looming 25% tariff that could put a damper on that growth. Continue reading
Jul 28 U.S. and China trade officials meet in Sweden to discuss how to ease tensions By Jamey Keaten, Associated Press U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are meeting at the offices of Sweden's prime minister. Continue reading
Jul 27 Watch 5:18 What to expect from the new U.S.-EU trade framework announced by Trump By Lisa Desjardins, Kaisha Young, Claire Mufson In Scotland on Sunday, Trump and the European Union announced a major trade deal between their two massive economies. The framework for the preliminary deal includes a 15% general tariff on most EU goods entering the U.S. while a 50%… Continue watching
Jul 27 WATCH: Trump and von der Leyen announce U.S.-EU trade framework By Will Weissert, Associated Press The United States and the European Union agreed on Sunday to a trade framework setting a 15% tariff on most goods, staving off — at least for now — far higher imports on both sides that might have sent shockwaves through economies around the… Continue reading