Fed rate hike likely means more expensive credit cards and mortgages, but savers may rejoice
WASHINGTON (AP) -- The Federal Reserve just raised the cost of money -- bad news for borrowers, good news for savers.
Paul Wiseman, The Associated Press
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Fed rate hike will likely push borrowing costs on credit cards, mortgages -- but benefit savers
WASHINGTON (AP) -- The Federal Reserve just raised the cost of money -- bad news for borrowers, good news for savers.
Untested in court, Trump's new tariffs on Canada raise legal questions
WASHINGTON (AP) -- In firing up a trade war with Canada, President Donald Trump turned to a 96-year-old statute so obscure that many trade lawyers didn't even know it was still on the books.
Trump administration races the clock to rebuild US tariff wall knocked down by Supreme Court
WASHINGTON (AP) -- The U.S. Treasury last year swelled with revenue from President Donald Trump's double-digit taxes on imports from almost every country on earth.
The US, Canada and Mexico begin bumpy negotiations to renew North American trade pact
WASHINGTON (AP) -- Tourists from Chattanooga check into beach resorts in Cancun. Canadian auto parts feed factories in the American Midwest - and vice versa. Happy hour revelers raise glasses of Mexican tequila and mezcal at bars in Seattle.
US, Canada and Mexico begin bumpy negotiations to renew North American trade pact
WASHINGTON (AP) -- Tourists from Chattanooga check into beach resorts in Cancun. Canadian auto parts feed factories in the American Midwest -- and vice versa. Happy hour revelers raise glasses of Mexican tequila and mezcal at bars in Seattle.
Former Federal Reserve Chairman Alan Greenspan dies at 100
WASHINGTON (AP) -- Former U.S. Federal Reserve Chair Alan Greenspan died Monday from complications of Parkinson's disease, said his wife of 29 years, NBC News correspondent Andrea Mitchell. He was 100.
Appeals court says U.S. government can keep collecting 10% tariffs for now
WASHINGTON (AP) -- The U.S. government can continue collecting the 10% worldwide tariff it imposed in February while legal challenges to the levies continue to work their way through the courts, a federal court ruled Thursday.
Trump pursues new import taxes to replace the tariffs the Supreme Court rejected
WASHINGTON (AP) -- When the Supreme Court killed his favorite tariffs in February, President Donald Trump promptly rolled out temporary import taxes to replace them. But those stopgap levies expire in less than three months.
Worries about global economic pain deepen as the war in Iran drags on
WASHINGTON (AP) -- U.S. and Israeli attacks on Iran have driven up prices, darkened the outlook for the world economy, sent global stock markets reeling and forced developing countries to ration fuel and subsidize energy costs to protect their poorest.
Trump expects his Fed pick and AI to deliver a replay of the '90s boom. Economists have doubts
WASHINGTON (AP) -- President Donald Trump, his Treasury secretary and his choice to lead the Federal Reserve believe they can coax the U.S. economy into partying like it's 1999.
Supreme Court ruling against Trump's tariffs is unlikely to mean an end to trade policy chaos
WASHINGTON (AP) -- The Supreme Court's stunning rebuke of President Donald Trump's most sweeping tariffs means he can't conjure up new import taxes on a whim anymore.
The Supreme Court struck down Trump's tariffs. Now comes the hard work of issuing refunds
WASHINGTON (AP) -- The Supreme Court on Friday struck down President Donald Trump's biggest and boldest tariffs. But the justices left a $133 billion question unanswered: What's going to happen to the money the government has already collected in import taxes now declared unlawful?
Trump has other tariff options after Supreme Court strikes down his worldwide import taxes
WASHINGTON (AP) -- President Donald Trump still has options to keep taxing imports aggressively even after the Supreme Court struck down the tariffs he imposed last year on nearly every country on earth.
Bringing charges against the Fed: What we do (and don't) know
WASHINGTON (AP) -- President Donald Trump has dramatically escalated his confrontation with the Federal Reserve, his Justice Department investigating and threatening a criminal indictment of the independent central bank and serving it with subpoenas.
The US gained 64,000 jobs in November but lost 105,000 in October; unemployment rate at 4.6%
WASHINGTON (AP) -- The United States gained a decent 64,000 jobs in November but lost 105,000 in October as federal workers departed after cutbacks by the Trump administration, the government said in delayed reports.
Employers likely added 40,000 jobs in November as government releases report delayed by shutdown
WASHINGTON (AP) -- The U.S. job market is sluggish and confusing this fall.
Costco becomes biggest company yet to demand refund of Trump tariffs
WASHINGTON (AP) -- Costco is joining other companies that aren't waiting to see whether the Supreme Court strikes down President Donald Trump's most sweeping import taxes. They're going to court to demand refunds on the tariffs they've paid.
U.S. trade deficit drops 24% in August as Trump's tariffs reduce imports
WASHINGTON (AP) -- The U.S. trade deficit fell by nearly 24% in August as President Donald Trump's sweeping global tariffs pushed imports lower.
What to know about Trump's plan to give Americans a $2,000 tariff dividend
WASHINGTON (AP) -- President Donald Trump boasts that his tariffs protect American industries, lure factories to the United States, raise money for the federal government and give him diplomatic leverage.
Trump has other tariff options if the Supreme Court strikes down his worldwide import taxes
WASHINGTON (AP) -- President Donald Trump has warned that the United States will be rendered "defenseless'' and possibly "reduced to almost Third World status'' if Supreme Court strikes down the tariffs he imposed this year on nearly every country on earth.
Trump says a Canadian ad misstated Ronald Reagan's views on tariffs. Here are the facts and context
WASHINGTON (AP) -- President Donald Trump pulled out of trade talks with Canada Thursday night, furious over what he called a "fake'' television ad from Ontario's provincial government that quoted former U.S. President Ronald Reagan from 38 years ago criticizing tariffs -- Trump's favorite economic tool.
After cuts to food stamps, Trump administration ends government's annual report on hunger in America
WASHINGTON (AP) -- The Trump administration is ending the federal government's annual report on hunger in America, stating that it had become "overly politicized" and "rife with inaccuracies."
If Trump's biggest tariffs get thrown out, companies could get a refund - but not consumers
WASHINGTON (AP) -- President Donald Trump likes to boast about how much money the U.S. Treasury is raking in from the massive taxes - tariffs -- he's slapped this year on imports from almost every country in the world.
From Laos to Brazil, Trump's tariffs leave a lot of losers. But even the winners will pay a price
WASHINGTON (AP) -- President Donald Trump's tariff onslaught this week left a lot of losers - from small, poor countries like Laos and Algeria to wealthy U.S. trading partners like Canada and Switzerland. They're now facing especially hefty taxes - tariffs - on the products they export to the United States starting Aug. 7.
Appellate judges question Trump's authority to impose tariffs without Congress
WASHINGTON (AP) -- Appellate court judges expressed broad skepticism Thursday over President Donald Trump's legal rationale for his most expansive round of tariffs.
Triumphant in trade talks, Trump and his tariffs still face a challenge in federal court
WASHINGTON (AP) -- President Donald Trump has been getting his way on trade, strong-arming the European Union, Japan and other partners to accept once unthinkably high taxes on their exports to the United States.
US manufacturers are stuck in a rut despite subsidies from Biden and protection from Trump
WASHINGTON (AP) -- Democrats and Republicans don't agree on much, but they share a conviction that the government should help American manufacturers, one way or another.
Trump's sudden shifts make his policies baffling to countries trying to negotiate lower tariffs
WASHINGTON (AP) -- In the past week, President Donald Trump has managed to make his erratic trade policies even more baffling to countries desperate to negotiate an escape from his wrath.
Trump's trade blitz produces few deals but lots of uncertainty
WASHINGTON (AP) -- President Donald Trump and his advisers promised a lightning round of global trade negotiations with dozens of countries back in April.
ICE raids and their uncertainty scare off workers and baffle businesses
WASHINGTON (AP) -- Farmers, cattle ranchers and hotel and restaurant managers breathed a sigh of relief last week when President Donald Trump ordered a pause to immigration raids that were disrupting those industries and scaring foreign-born workers off the job.
Appeals court allows Trump to continue collecting tariffs under an emergency powers law for now
WASHINGTON (AP) -- A federal appeals court on Thursday allowed President Donald Trump to continue collecting tariffs under an emergency powers law for now, as his administration appeals an order striking down the bulk of his signature set of economic policies.
What happens to Trump's tariffs now that a court has knocked them down?
WASHINGTON (AP) -- A federal court in New York handed President Donald Trump a big setback Wednesday, blocking his audacious plan to impose massive taxes on imports from almost every country in the world.
What happens to Trump's tariffs now that a court has ruled against them?
WASHINGTON (AP) -- A federal court in New York handed President Donald Trump a big setback Wednesday, blocking his audacious plan to impose massive taxes on imports from almost every country in the world.
Federal court blocks Trump's tariffs. Here's what to know
WASHINGTON (AP) -- A federal court in New York handed President Donald Trump a big setback Wednesday, blocking his audacious plan to impose massive taxes on imports from almost every country in the world.
Trump disrupts global economic order even though the US is dominant
WASHINGTON (AP) -- By declaring a trade war on the rest of the world, President Donald Trump has panicked global financial markets, raised the risk of a recession and broken the political and economic alliances that made much of the world stable for business after World War II.
US employers add a solid 151,000 jobs last month though unemployment up to 4.1%
WASHINGTON (AP) -- U.S. employers added solid 151,000 jobs last month, but the outlook is cloudy as President Donald threatens a trade war, purges the federal workforce and promises to deport millions of immigrants.
U.S. economy likely generated a solid 160,000 jobs last month, but Trump's trade wars cloud outlook
WASHINGTON (AP) -- The U.S. labor market likely kept on churning out jobs last month, economists say, but the outlook is cloudy and getting cloudier as the Trump administration wages trade wars, purges federal employees and seeks to deport millions of immigrants.
Businesses scramble to contain fallout from Trump's tariffs on Canada, China and Mexico
A Minnesota farmer worries about the price of fertilizer. A San Diego entrepreneur deals with an unexpected cost increase of remodeling a restaurant. A Midwestern sheet metal fabricator bemoans the prospect of higher aluminum prices.
Here's what tariffs are and how they work
WASHINGTON (AP) -- Tariffs are in the news at the moment. Here's what they are and what you need to know about them:
Senate Finance Committee approves Jamieson Greer, Trump's choice to be top U.S. trade negotiator
WASHINGTON (AP) -- The Senate Finance Committee approved President Donald Trump's choice to be America's top trade negotiator Wednesday, largely along party lines.
Trump's US trade negotiator choice vows hardline policies
WASHINGTON (AP) -- Jamieson Greer, President Donald Trump's choice to be the top U.S. trade negotiator, promised to pursue the president's hardline trade policies in testimony Wednesday before the Senate Finance Committee. But he faced pushback from senators unsettled by Trump's unpredictable actions on trade.
Trump's US trade negotiator pick vows hardline policies
WASHINGTON (AP) -- Jamieson Greer, President Donald Trump's choice to be the top U.S. trade negotiator, promised to pursue the president's hardline trade policies.
US businesses brace for Trump's tariffs on Canada, Mexico and China to drive up costs
WASHINGTON (AP) -- From an ice cream parlor in California to a medical supply business in North Carolina to a T-shirt vendor outside Detroit, U.S. businesses are bracing to take a hit from the taxes President Donald Trump imposed Saturday on imports from Canada, Mexico and China -- America's three biggest trading partners.
Trump's Commerce Secretary nominee, Howard Lutnick, vows to sell his business interests in 90 days
WASHINGTON (AP) -- Billionaire financier Howard Lutnick, President Donald Trump's choice to lead the Commerce Department, said Wednesday that he would sell all of his business holdings within 90 days.
What are tariffs and how do they work?
WASHINGTON (AP) -- Tariffs are in the news at the moment. Here's what they are and what you need to know about them:
Just in time for Valentine's Day, trade dispute with Colombia threatens flower imports
WASHINGTON (AP) -- President Donald Trump's threat to impose a 25% tax on imports from Colombia comes at a most inauspicious time: The wrangling over the South American country's willingness to accept flights carrying deported immigrants is flaring up just three weeks before Valentine's Day, and Colombia is America's No. 1 foreign source of cut flowers.
Biden's big semiconductor law will ramp up US chip production -- but at a high cost, report finds
WASHINGTON (AP) -- A sweeping 2022 law, touted by President Joe Biden as a way to revive U.S. manufacturing of semiconductors and reduce the country's reliance on foreign-made computer chips, will "sharply increase production'' of semiconductors in the United States. But it will do so at a high cost and might not deliver the best bang for the buck, concludes...
Trump's latest tariff plan aims at multiple countries. What does it mean for the US?
WASHINGTON (AP) -- President-elect Donald Trump has identified what he sees as an all-purpose fix for what ails America: Slap huge new tariffs on foreign goods entering the United States.
Frustrated Americans await the economic changes they voted for with Trump
WASHINGTON (AP) -- Fed up with high prices and unimpressed with an economy that by just about any measure is a healthy one, Americans demanded change when they voted for president.
US employers added just 12,000 jobs last month as hurricanes and strikes sharply reduce payrolls
WASHINGTON (AP) -- America's employers added just 12,000 jobs in October, a total that economists say was held down by the effects of strikes and hurricanes that left many workers temporarily off payrolls. The report provided a somewhat blurry view of the job market at the end of a presidential race that has pivoted heavily on voters' feelings about the economy.
Final jobs report before election will likely offer a blurred view of labor market
WASHINGTON (AP) -- Americans on Friday will get their last major look at the state of the U.S. economy -- the October jobs report -- just four days before Election Day. The view, though, is likely to be obscured by the effects of strikes and hurricanes that left many workers temporarily off payrolls.
US adds a robust 254,000 jobs and unemployment dips to 4.1% in sign of still-sturdy labor market
WASHINGTON (AP) -- America's employers added a surprisingly strong 254,000 jobs in September, the latest evidence that the U.S. labor market is still solid enough to support steady hiring and a growing economy.
Jobs report is likely to show another month of modest but steady hiring gains
WASHINGTON (AP) -- The U.S. labor market is still reliably cranking out jobs each month, enough to give Americans the confidence and paychecks to keep spending and sustaining the economy. Yet the pace of hiring has lost momentum over the past several months, evidence that employers have become more cautious.
Trump favors huge new tariffs. What are they, and how do they work?
WASHINGTON (AP) -- Donald Trump has identified what he sees as an all-purpose fix for what ails America: Slap huge new tariffs on foreign goods entering the United States.
Prospect of low-priced Chinese EVs reaching US from Mexico poses threat to automakers
WASHINGTON (AP) -- It's a scenario that terrifies America's auto industry.