Lutnick: Trump may announce tariff compromise with Canada, Mexico on Wednesday
Commerce Secretary Howard Lutonic said he may announce a compromise between Canada and Mexico the day after President Trump imposed a 25% tariff on two neighboring countries. Lutonic He told Fox Business He spoke to Canadians and Mexicans on the phone on Tuesday, and both countries told him, “They'll do better.” “I think he'll work […]
How Trump's new tariffs will affect Americans: 5 things to know
President Trump launched a trade war on Tuesday, imposing major tariffs on the top three US trade partners, Canada, Mexico and China. He imposed a 25% import tax on Canada and Mexico, increasing Chinese tariffs to 10-20%. Tariffs affect imports of more than $1 trillion. Canada, Mexico and China exported a total of $1.4 trillion […]
Refiners' trade group: Tariffs won't make US energy secure, lower consumer costs
A refiner's trade group has knocked President Trump on 25% tariffs in Canada and Mexico. Both are known for having the largest bilateral free trade agreement with the United States. “The US is making energy safe because of its trade ties with Canada and Mexico. “The US is making energy safe,” said Chet Thompson, president […]
DeLauro rejects one-year stopgap spending bill backed by Republicans: ‘Nonstarter’
Top Democrats on the House Budget Committee have rejected the idea of a suspension spending bill to fund the government at its current level throughout the remainder of the fiscal year. The proposal is being driven by President Trump, who supported the “clean” continuous resolution (CR) last week, and President Trump, who supports Mike Johnson […]
CNBC’s Jim Cramer rips Trump administration for ‘vast confusion’ over tariffs
CNBC's Jim Kramer criticized the Trump administration for what he said was “a vast disruption” about the tariff plan that came into effect Tuesday. “There's a huge amount of confusion,” Cramer said. I cried out Tuesday's “Scoke on the Street.” “No one knows, meaning car manufacturers don't know what this means. “There's no clarity at […]
Stocks sink as Trump trade war with Canada, Mexico escalates
Stock markets opened with losses on Tuesday after President Trump's sudden tariffs on Canadian and Mexican goods came into effect, spurring retaliation from two top US trading partners. The Dow Jones industrial average fell 431 points after the opening bell, losing 1% at the start of trading Tuesday. The S&P 500 index fell by 0.9%, […]
Mexico will respond with retaliatory tariffs after Trump action, Sheinbaum says
Mexican President Claudia Sheinbaum said he will announce retaliatory tariffs on Sunday in response to President Trump, who has implemented 25% tariffs on goods from Mexico. She announced at her daily press conference Tuesday that she would be announcing her plans to convene her supporters in Zocaro, Mexico City, the day the tariffs came into […]
Trump tariffs on Canada, Mexico raises risks, tough choices for businesses
US businesses are enduring the impact of President Trump's new tariffs on Canadian and Mexican goods. After months of threats and deadlines, Trump said Monday it would proceed with implementing a 25% import tax on goods from Canada and Mexico. The new tariffs, scheduled to take effect Tuesday, will mark a dramatic turning point in […]
5 questions about Trump’s crypto reserve plan
President Trump provided new details on plans to create a strategic cryptocurrency sanctuary over the weekend, and rallyed the cryptocurrency market a few weeks later. Trump's announcement has surprised the industry's excitement, but questions remain about what the reserves will look like and how it will affect the digital currency space There are five important […]
O'Malley: DOGE cuts could soon trigger Social Security system 'collapse'
Martin O'Malley, a former commissioner for the Social Security Agency (SSA), said on Monday that the recent cuts made by tech billionaire Elon Musk's government efficiency (DOGE) at the agency could “result in the 'collapse' of social security systems within the next 30-90 days. Marie, a Democrat who served as Governor of Maryland from 2007 […]