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
Virtually everyone in the cryptocurrency world celebrated the second election of President Trump, an enthusiastic booster of the industry who promised to turn the United States into the “crypto capital of the planet.” But now the man nicknamed “the first Bitcoin president” is presiding over a Bitcoin crash. Since Mr. Trump announced his global tariffs … Read more
For the last several months, Ken Harvey has been cultivating a budding side business for his Honda and Mazda dealerships in Northern California: selling used Teslas. A few times a month, Mr. Harvey picks up a few pre-owned Teslas at a local automobile auction and offers them for sale, often at surprisingly affordable prices, thanks … Read more
President Trump’s self-proclaimed “liberation day,” in which he announced across-the-board tariffs on the United States’ trading partners, carries an echo of another moment when an advanced Western economy threw up walls around itself. Like Brexit, Britain’s fateful vote nearly nine years ago to leave the European Union, Mr. Trump’s tariffs struck a hammer blow at … Read more
It was a bad week for Ben Coryell, who runs a wilderness guiding company in Golden, Colo. He got several calls from customers who wanted to cancel their climbing courses and mountaineering expeditions over the summer, often citing second thoughts about big purchases as the Trump administration has thrown the economy into turmoil with eye-watering … Read more