WASHINGTON — 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. A three-judge panel of the U.S. Court of International Trade ruled that Trump overstepped his authority when he invoked the 1977 International … Read more
NEW YORK — Walmart’s first quarter profit slipped and it said it must raise prices due to higher costs from tariffs implemented by President Donald Trump. The nation’s largest retailers posted strong quarterly sales Thursday and said it expects sales growth of 3.5% to 4.5% in the second quarter. Like many other U.S. companies, however, … Read more
SAN JUAN, Puerto Rico — A global trade war is offering Puerto Rico hope as the U.S. territory, attempts to strengthen its fragile economy. Government officials are jumping on planes to try and convince international companies to relocate their manufacturing plants to the island, where they would be exempt from tariffs. Any relocation would be … Read more
GENEVA — The U.S. treasury secretary and America’s top trade negotiator will meet with high-ranking Chinese officials in Switzerland this weekend to de-escalate a dispute that threatens to cut off trade between the world’s two biggest economies and to damage global commerce. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer will meet in … Read more
China is the world’s second-largest economy and second-largest importer of U.S. goods. Entities in China hold at least $784 billion in U.S. federal debt. The country also controls much of the world’s rare element supply, which is vital for manufacturing technology. China could weaponize these assets if an all-out trade war breaks out, to the … Read more
BANGKOK — China on Thursday denied U.S. President Donald Trump’s assertion that the two sides were involved in active negotiations over tariffs, saying that any suggestion of progress in this matter was as groundless as “trying to catch the wind.” China’s comments come after Trump said Tuesday that the final tariff rate on China’s exports … Read more
WASHINGTON — The outlooks for the U.S. and global economies have significantly worsened in the wake of President Donald Trump’s tariffs and the uncertainty they have created, the International Monetary Fund said Tuesday. The IMF said that the global economy will grow just 2.8% this year, down from its forecast in January of 3.3%, according … Read more