Two days after imposing sweeping tariffs on Canada and Mexico, President Trump on Thursday abruptly suspended many of those levies, sowing confusion with investors and businesses that depend on trade with the countries. The president said he would allow products that are traded under the rules of the U.S.-Mexico-Canada Agreement, the trade pact he signed…
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…
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…
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…
President Trump’s imposition of tariffs on all steel and aluminum imports could make it more expensive to produce cars in the United States, dealing another blow to automakers already facing the potential of rising steel prices because of other policies from his administration. Top of mind for auto executives was the bid by the Japanese…
President Trump’s sweeping tariffs on foreign steel and aluminum went into effect on Wednesday, escalating America’s trade spats with global competitors, including close allies already reeling from his on-and-off approach to trade penalties. Mr. Trump’s tariffs of 25 percent on the metals hit imports that enter the United States from any country in the world….
President Trump escalated his fight with Canada on Tuesday, threatening to double tariffs on steel and aluminum imports and pressing to turn one of America’s closest traditional allies into the 51st state. After several tense hours, both sides backed down, at least for now. It was the latest in a week of chaotic trade moves,…
For about a year now, the labor market has existed in a state of eerie calm: Not many people were losing their jobs or quitting, but not many of those seeking work were getting job offers. The mass layoffs now underway across the federal government, along with its employees who are voluntarily heading for the…
President Trump inherited an economy that was, by most conventional measures, firing on all cylinders. Wages, consumer spending and corporate profits were rising. Unemployment was low. The inflation rate, though higher than normal, was falling. Just weeks into Mr. Trump’s term, the outlook is gloomier. Measures of business and consumer confidence have plunged. The stock…
As President Trump puts new tariffs on goods from China and threatens a trade war with allies like Mexico and Canada, one global company is likely to suffer less than most of its competitors: Tesla. But the electric car maker led by Elon Musk, which accounts for a third of the billionaire’s wealth, is also…
