The U.S. trade deficit in goods hit a record $1.2 trillion last year, as American consumers snapped up imported products and a strong U.S. dollar weighed on export growth. Data released Wednesday morning by the Commerce Department showed that U.S. imports of goods and services grew 6.6 percent to a record $4.1 trillion, as Americans … Read more
President Trump is moving forward with extensive tariffs on America’s closest trading partners. Beginning Tuesday, companies bringing products into the United States from Canada and Mexico will pay a 25 percent tariff; importers bringing products in from China will pay an additional 10 percent on top of existing levies. The president has insisted that these … Read more
Under threats from President Trump that included steep tariffs, President Gustavo Petro of Colombia has relented and will allow U.S. military planes to fly deportees into the country, after turning two transports back in response to what he called inhumane treatment. The two leaders had engaged in a war of words on Sunday after Colombia’s … Read more
President Trump said on Tuesday that he intended to impose a 10 percent tariff on Chinese imports into the United States on Feb. 1, a decision that is sure to escalate trade tensions between the world’s largest economies. Speaking at the White House, Mr. Trump said that the tariffs were in response to China’s role … Read more
For more than a year, U.S. Steel pursued an ambitious solution to its mounting challenges. Once a symbol of American industrial might, it had agreed to a takeover by Nippon Steel, a Japanese rival, in a bid to ward off obsolescence. Citing the need to finance a costly modernization of its mills, U.S. Steel warned … Read more