Even as stocks plunged in reaction to his administration’s sweeping tariffs, President Trump expressed confidence in his trade policies, saying last week that “markets are going to boom.” But by Wednesday, a collective thumb’s down to the tariffs by bond investors had given Mr. Trump pause. With U.S. and global financial market tumbling, he abruptly suspended […]
Why did Trump pause the tariffs? Look to the bond market. Read More »
The U.S. Postal Service is seeking a rate increase this summer that includes hiking the cost of a first-class stamp from 73 cents to 78 cents. The request was made Wednesday to the Postal Regulatory Commission, which must OK the proposal. If approved, the 5-cent increase for a “forever” stamp and similar increases for postcards,
USPS looks to raise price of "forever" stamp to 78 cents Read More »
Apple wants to get its iPhones into the hands of U.S. customers before tariffs could lead to hike prices. The iPhone maker shipped about 1.5 million iPhones, a cargo weighing roughly 600 tons, by air from India to the U.S., Reuters reported, citing sources with knowledge of the matter. The technology giant has taken a
Apple airlifts iPhones out of India to avoid Trump tariffs, report says Read More »
Wall Street gave back some of the historic gains made a day earlier when President Donald Trump paused his latest tariff hikes on U.S. trading partners, with the exception of China. In morning trade on Thursday, the S&P 500 was down 126 points, or 2.3%, to 5,331, while the Dow Jones Industrial Average dropped 869
Stocks drop a day after huge gains on tariff pause announcement Read More »
The Prada Group announced a deal Thursday to buy Italy’s Versace from the U.S. luxury group Capri Holdings under terms that value the fashion house at 1.25 billion euros ($1.4 billion). Prada said the addition of Versace’s “highly recognizable aesthetic … constitutes a strongly complementary addition” to its portfolio, which includes the Prada and Miu
Prada to buy Versace in a deal valued at $1.4 billion Read More »
The Consumer Price Index in March rose 2.4% on an annual basis, showing progress in the Federal Reserve’s battle to bring down inflation to a 2% rate. By the numbers The CPI was forecast to rise 2.6% last month, according to economists polled by financial data firm FactSet. The CPI, a basket of goods and
Inflation rate rose by 2.4% last month, showing cooling prices Read More »
The Trump administration’s barrage of “Liberation Day” tariffs on countries around the world this year has rattled consumers, businesses and investors. Although President Trump on Wednesday announced a 90-day pause on most of his new tariffs, he upped import duties on Chinese goods to 125% — escalating a conflict between the world’s two largest economies.
You had questions about tariffs. Here's what to know. Read More »
A spokesperson for China’s Commerce Ministry said Thursday that Beijing hoped the U.S. would work to de-escalate the trade war between the world’s two largest economies after President Trump announced a pause on higher tariffs he had imposed on many other countries. “China’s position is clear and consistent: the door to talks is open, but
China says it's open to talks as Trump pauses tariffs on other nations Read More »
World markets soared on Thursday, with Japan’s benchmark jumping more than 9%, as investors welcomed President Trump’s decision to put his sharp tariff hikes on hold for 90 days, though he excluded China from the reprieve. U.S. futures were lower and oil prices declined, as well. S&P 500 futures were down 1.92% as of 5:30
World markets jump after Trump delays most tariff hikes, but not U.S. futures Read More »
President Trump on Wednesday announced a 90-day pause on most of his new tariffs, and a lowering of the “reciprocal tariff” rate to 10%, effective immediately, he said on Truth Social. The U.S. stock market surged immediately after the president’s announcement. At the same time, the president said he’s increasing the tariff rate on goods imported
Trump announces 90-day pause on reciprocal tariffs, increases China tariffs to 125% Read More »
