This time, maybe the stock market is the economy. Financial markets around the world have plummeted in the days since President Trump announced sweeping tariffs, setting off a global trade war. The S&P 500 declined more than 10 percent in two days last week, and it swung wildly on Monday amid news of further tariffs … Read more
Source: U.S. International Trade Commission Note: Boxes sized by value of exports to the United States. Only the 20 largest exporters to the U.S. are shown. The New York Times For now, most world leaders are trying to bargain their way out of the sweeping new American tariffs. Just two of the 20 largest exporters … Read more
Peter Navarro, a senior White House trade adviser, on Monday defended the sweeping tariffs President Trump has imposed on foreign nations and indicated that other countries’ offers to drop their own tariffs on American products would be insufficient to convince the president to retreat. Mr. Navarro, who has been the architect of many of President … Read more
President Trump’s plan to impose sweeping tariffs on most of America’s trading partners has governments across the globe racing to schedule phone calls, send delegations to Washington and offer up proposals to lower their import taxes in order to escape the levies. On Monday, European officials offered to drop tariffs to zero on cars and … Read more
President Trump on Monday issued a new ultimatum to China: Rescind its retaliatory tariffs, or face a 104 percent tax on its exports to the United States starting later this week. The president’s threat risked another major escalation in what has already become a costly and damaging global trade war, one that has roiled financial … Read more
U.S. markets swung wildly this morning on an unsubstantiated report that President Trump was considering a 90-day pause to his expansive tariffs. The White House has not announced any policy change, and later called the report “FAKE NEWS” on one of its official accounts on X. It was not clear where the report originated. Asked … Read more
President Trump’s wave of tariffs threatens to bring both short-term economic pain, including lower growth, and long-term damage to America’s standing and trade relationships around the world, the chief executive of Wall Street’s biggest bank warned on Monday. “The recent tariffs will likely increase inflation and are causing many to consider a greater probability of … Read more
President Trump’s global tariffs have sent stock markets worldwide into a tailspin, and the S&P 500 on Monday entered bear market territory for the first time since 2022. Mr. Trump has seemed unmoved by the decline. He signaled on Monday that he had no plans to back off on tariffs, insisting that they would bring … Read more
China’s leaders have sent a clear message about the effects of the Trump administration’s sweeping tariffs: Things will be painful, but it is nothing that the country cannot handle. A commentary on Sunday in the Communist Party mouthpiece, the People’s Daily, said Beijing had prepared for a trade war with the United States and that … Read more
U.S. oil prices fell sharply, briefly dipping below $60 a barrel on Sunday — their lowest level in almost four years — as the economic fallout from President Trump’s latest round of tariffs reverberated around the world. Crude oil now costs around 15 percent less than it did last Wednesday, just before Mr. Trump revealed … Read more