United states economy
Trump’s Tariffs and the Backlash From Canada and Other Countries, Explained
President Trump is using tariffs to rewire the global economic order in a flurry of on-again, off-again maneuvers, arguing they will boost U.S. factories and generate revenue. But his strategy has already triggered retaliation from major trading partners, rattled markets and upended diplomatic ties. On Wednesday, the European Union announced up to $28 billion in … Read more
Stocks Rise After Tumult, but Investors Remain Wary of Trade Tensions
Stocks rose on Wednesday after a tumultuous few days of trading following President Trump’s decision to impose tariffs on some of the United States’ biggest trading partners and retaliatory measures by the European Union, China and Canada. Futures on the S&P 500, which allow investors to trade ahead of exchanges opening, were slightly higher. The … Read more
CPI Report: Inflation Rose Unexpectedly in January
U.S. inflation rose to 3 percent in January, strengthening the case for the Federal Reserve to extend a pause on interest rate cuts. The Consumer Price Index unexpectedly ticked higher from a year earlier, data from the Bureau of Labor Statistics showed on Wednesday, up from 2.9 percent in December. Compared to December, consumer prices … Read more
U.S. Trade Deficit Hit Record in 2024 as Imports Surged
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
Who Pays for Tariffs? Here’s What You Need to Know.
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
Inflation Sped Up in December, a Fresh Challenge for the Fed
Consumer prices rose more quickly in December, the latest sign that the Federal Reserve’s fight against inflation may have stalled. The Consumer Price Index rose 0.4 percent from November, and was up 2.9 percent from a year earlier, the Labor Department said on Wednesday. That represented a modest acceleration from November on both a monthly … Read more
Opinion | What Will Trump Do With All That Power?
Bret Stephens: Happy New Year, Gail. Donald Trump will be president again in a couple of weeks. Is there any news on the horizon that gives you cause for optimism? Gail Collins: Well, Bret, the holiday season is always a great time to reunite with friends and family. Happy to look back on that. But … Read more
US second-quarter productivity revised higher
U.S. worker productivity grew faster than initially thought in the second quarter, reining in labor costs, suggesting that inflation pressures could continue to subside. Nonfarm productivity, which measures hourly output per worker, increased at a 2.5% annualized rate last quarter, the Labor Department’s Bureau of Labor Statistics said on Thursday. That was an upward revision … Read more