Presidents usually do all they can to avoid recessions, so much so that they avoid even saying the word. But President Trump and his advisers in recent weeks have offered a very different message. Yes, a recession is possible, they have said. Maybe one wouldn’t even be that bad. Howard Lutnick, the commerce secretary, has … Read more
The counties where tariffs could hit jobs, by presidential vote winner Share of jobs in industries targeted by tariffs Ala. Ariz. Ark. Calif. Colo. Del. Fla. Ga. Idaho Ill. Ind. Iowa Kan. Ky. La. Maine Md. Mass. Mich. Minn. Miss. Mo. Mont. Neb. Nev. N.H. N.J. N.M. N.Y. N.C. N.D. Ohio Okla. Ore. Pa. S.C. … Read more
A contracting firm called Leidos took in more than $16 billion in revenue last year, most of it through contracts with federal agencies like the Department of Veterans Affairs. So when the Trump administration’s budget cutters took aim at the V.A. last month, it seemed like bad news not just for the department’s employees but … Read more
For the second time this week, President Trump has threatened to disrupt trade with a close ally for retaliating in a trade war that he started — a tactic that could lead to compromise, or to economic spats that spiral further out of control. On Thursday morning, Mr. Trump tried to cow the European Union … Read more
President Trump has called the word tariff “the most beautiful word in the dictionary.” He imposed hefty tariffs during his first term and promised expansive new ones as he pursued his second. On his first day back in the White House in January, he issued an executive order directing his cabinet picks to prepare even … Read more
Inflation eased more than expected in February, a welcome sign for the Federal Reserve as it grapples with the prospect of higher prices and slower growth as a result of President Trump’s trade war. The Consumer Price Index was up 2.8 percent from a year earlier, after rising another 0.2 percent on a monthly basis. … Read more
Policymakers are grappling with “exceptionally high” uncertainty, Christine Lagarde, the president of the European Central Bank, said on Wednesday, just hours after the European Commission announced tariffs on U.S. imports in response to levies imposed by the Trump administration. Later, Canada announced a new round of retaliatory tariffs on U.S. imports. The unpredictability of trade … Read more
Global trade turmoil deepened on Wednesday as the European Union announced up to about $28 billion in retaliatory tariffs on U.S. exports, shortly after President Trump’s across-the-board levies on steel and aluminum imports took effect. The latest escalations in the trade war instigated by Mr. Trump came hours before the release of the latest reading … Read more
As a presidential candidate, Donald J. Trump promised an economic “boom like no other.” But eight weeks into his presidency, Mr. Trump is refusing to rule out a recession — a striking change in tone and message for a man who rode widespread economic dissatisfaction to the White House by promising to “make America affordable … Read more
The European Union is putting tariffs on a range of products from the United States in retaliation to President Trump’s steel and aluminum tariffs, and items that come from Republican-held states rank high on the hit list. The European Union plans to institute the tariffs in two phases: The first wave will take hold on … Read more