The Trump administration seems to have used quite a simple calculation to determine how much it will charge exporters.STR/AFP/Getty Images CNN — President Donald Trump’s massive tariffs announced on dozens of nations Wednesday were pitched as “reciprocal,” matching what other countries charge the United States dollar for dollar, even taking into account non-tariff barriers like…
Without the mass layoffs of federal workers, March would have otherwise been a fairly quiet month for layoffs, a new report says.BRYAN DOZIER/AFP/Middle East Images/AFP via Getty CNN — More than 275,000 layoffs were announced last month, reaching a level not seen since the pandemic, according to a new report published Thursday. The biggest culprit…
President Donald Trump signs an executive order during a tariff announcement at the White House in Washington, DC, on Wednesday.Kent Nishimura/Bloomberg/Getty Images WashingtonCNN — President Donald Trump on Wednesday unveiled expansive new tariffs in a major escalation of his trade war, referring to the historic move as a “declaration of economic independence.” Trump’s risky bet…
President Donald Trump’s fast-moving policy actions are expected to ripple through the private sector, potentially stifling growth.Frederic J. Brown/AFP/Getty Images CNN — US employers pared back on their hiring plans in February, a likely reflection of a job market cooldown driven in part by heightened uncertainty amid the Trump administration’s sweeping policy moves. The number…
Consumer spending powers more than two-thirds of US economic activity.Erin Hooley/AP CNN — America’s economic engine is running a little rough these days. Consumer confidence is cratering, debt burdens are growing, people are worrying more about their jobs and they’re pulling back on some spending out of caution. Still, while the overall fundamentals that prop…
Trump administration trade adviser Peter Navarro speaks to press outside the White House earlier this month.Kayla Bartkowski/Getty Images CNN — White House aide Peter Navarro said Sunday that he expects President Donald Trump’s tariffs tobring in $6 trillion in revenue in the next decade, which could amount to the largesttax hike in US history. Even…
Two-thirds of US consumers expect unemployment to rise in the year ahead, the highest reading since 2009, according to a survey released Friday.David Paul Morris/Bloomberg/Getty Images WashingtonCNN — Americans are not only increasingly fearful of higher inflation — with President Donald Trump set to announce a sweeping spate of tariffs in just a few days…
Economists expected that the Federal Reserve’s inflation gauge would stay unchanged at 2.5% while consumer spending rebounded in February.David Paul Morris/Bloomberg/Getty Images CNN — Americans increased their spending last month after taking a breather in January while inflation held steady, new Commerce Department data showed Friday. However, recently imposed tariffs on auto imports and a…
A tariff on auto parts could raise the cost of your car repair bill.Justin Sullivan/Getty Images New YorkCNN — President Donald Trump’s auto tariffs could send the cost of a new car soaring. Fixing the car you already have will likely get more costly, too. Trump said Wednesday he is imposing 25% tariffs on car…
China’s Xi Jinping applauds at a meeting with global business leaders at the Great Hall of the People in Beijing, China, on March 28, 2025.Florence Lo/Reuters Hong KongCNN — Chinese leader Xi Jinping held court with dozens of the world’s top executives on Friday, as he sought to bolster foreign investment during an escalating trade…
