By Arathy Somasekhar and Karen Freifeld HOUSTON (Reuters) -The U.S. cleared the way to resume ethane exports to China on Wednesday, sending letters to producers Enterprise Products Partners and Energy Transfer rescinding a restrictive license requirement put in place just weeks ago, a sign that the U.S.-China trade truce was on track. The U.S. had…
Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest contract chipmaker, is under investigation by the US Department of Commerce for allegedly violating export control regulations. The probe centers on a chip manufactured by TSMC for Sophgo, a China-based chip design company, which reportedly ended up in Huawei’s high-end Ascend 910B artificial intelligence processor. Huawei has…
Auto stocks continued their downward slide on Monday as the sector, heavily exposed to tariffs, looks for a bottom. Domestic automakers like General Motors (GM), Stellantis (STLA), Ford (F), and Tesla (TSLA) all slipped on Monday as fallout from Trump’s 25% auto tariffs weighed heavily on a sector looking for a lifeline. Tariffs on auto…
President Trump’s top aides raced to defend his expansive global tariffs on Sunday, downplaying the prospect that his new taxes on imports could cause a significant spike in prices or tip the U.S. economy into a painful recession. As Mr. Trump departed Mar-a-Lago for another day of golfing at his club in Jupiter, Fla., his…
A video that circulated widely on the internet recently showed a Haitian gang leader, Joseph Wilson, shirtless, happily showing off belts of .50 caliber ammunition, mockingly saying he used the armor-piercing bullets to groom his hair. “We have enough combs for our hair to last a year,” he joked. So how did he get them?…
Tesla CEO Elon Musk imports at least 20% of the value of each of his U.S.-built vehicles from Mexico. These parts are now subject to steep import duties following Wednesday’s tariff announcement by the president. Brendan Smialowski—AFP via Getty Images Source link
Meltdown The markets have spoken. The S&P 500 is on track for its worst weekly loss since the collapse of the Silicon Valley Bank crisis two years ago. And investors have wiped out post-Election Day gains as President Trump’s dizzying start-stop tariff policy fuels volatility on trading floors and in boardrooms. Another test comes this…
China’s top diplomat, Wang Yi, on Friday vowed that Beijing would firmly retaliate against the United States if it escalated the trade war with more tariffs, striking a tough note despite the country’s economic challenges. Mr. Wang’s comments came a day after President Trump suspended tariffs for goods coming from Mexico and Canada but did…
When the White House finally released the text of Mr. Trump’s orders on Thursday evening, it appeared that some of the tariffs — those covered in the U.S.-Mexico-Canada trade agreement that Mr. Trump negotiated and celebrated in his first term — were indeed permanently suspended. Other tariffs were merely paused. Most everyone involved was confused,…
STORY: Elon Musk may have a new target. The billionaire leading Donald Trump’s cost-cutting efforts says it’s time to sell off Amtrak and the U.S. Postal Service. Speaking Wednesday at a conference run by Morgan Stanley, he said the government should privatize everything that can be privatized. Musk said he thought such moves would need…