The US Supreme Court is poised in the weeks ahead to decide the legality of the majority of President Trump’s tariffs. The president invoked the International Emergency Economic Powers Act (IEEPA) to levy blanket tariffs on goods from other countries. But Congress is the branch of the US government with oversight of taxation and spending…
The US Supreme Court is poised in the weeks ahead to decide the legality of the majority of President Trump’s tariffs. The president invoked the International Emergency Economic Powers Act (IEEPA) to levy blanket tariffs on goods from other countries. But Congress is the branch of the US government with oversight of taxation and spending…
US President Donald Trump and Chinese leader Xi Jinping’s latest tit-for-tat showdown has both countries claiming the ball is now in the other’s court, with the clock ticking toward another escalation in import tariffs. Donald Trump shakes hands with Xi Jinping during a meeting on the sidelines of the G-20 summit in Japan, June 29,…
The CEO of Swiss pharmaceutical company Novartis said Saturday that it has enough stockpiles in the US to withstand any potential tariffs from President Trump, Reuters reported. Pharmaceuticals are exempt from the 39% tariffs Trump slapped on Switzerland in August, but an EU trade deal reached in July includes a 15% tariff on most drugs,…
MUNICH (Reuters) -U.S. tariffs have cost Volkswagen, Europe’s largest carmaker, billions of euros so far, its chief executive said on Monday, adding that its key brand Porsche was being squeezed in a “sandwich” of duties and a weak Chinese market. “Up to now, it’s several billion euros on our balance sheet that this situation costs…
By Lewis Krauskopf NEW YORK (Reuters) -A spate of inflation data confronts U.S. stock investors in the coming week as markets grapple with fresh uncertainty over tariffs and government bond yields, while equities hover at lofty valuations. The benchmark S&P 500 index closed at a record high on Thursday despite an uneven start to September,…
If you believe President Trump, the US economy is on the verge of collapse. That’s because a federal appeals court invalidated most of Trump’s import tariffs on Aug. 29, an outcome Trump said would be disastrous. “There is no substitute for the tariffs and deals that President Trump has made,” the Trump administration said in…
A federal appeals court struck down most of President Trump’s Congress-averting global import tariffs Friday in a dispute that’s predicted to head to the US Supreme Court. The 7-4 ruling, issued by 11 judges for the US Court of Appeals for the Federal Circuit in Washington, D.C., allows the tariffs to remain in place while…
By Amy Lv, Florence Lo and Shubing Wang GANZHOU, China (Reuters) -Chinese copper flat wire manufacturer Wellascent’s decision early last year to build a factory in Texas was a hedge against geopolitical risks. Now the investment is paying off as U.S. import tariffs boost demand for its locally produced goods. The company’s plant in Grand…
By Davide Barbuscia NEW YORK (Reuters) -Investors are bracing for volatility as Federal Reserve Chair Jerome Powell walks a fine line between curbing inflation and supporting the labor market, with thin August trading poised to magnify any market moves from his Jackson Hole speech on Friday. Wall Street largely expects Powell will signal an imminent…