DETROIT (AP) — President Donald Trump’s 25% tariffs on autos not made in the U.S. and certain auto parts are sending more tremors through an industry already being pummeled by steel and aluminum import duties and on-again, off-again 25% levies on Canada and Mexico. The new tariffs, announced Wednesday, are likely to jack up new…
Photo: Michael M. Santiago (Getty Images) Stocks fell Thursday morning after President Donald Trump imposed 25% tariffs on imported autos Wednesday evening and European equities declined. The S&P 500 declined 0.6%, the Nasdaq Composite slid 0.8% and the Dow Jones Industrial Average lost 257 points, or 0.6%. General Motors (GM) stock plunged more than 8%,…
(Reuters) – U.S. President Donald Trump on Wednesday followed through on weeks of threats for new tariffs on imported cars, saying a 25% import tax on vehicles not built in the U.S. would kick in next week. Nearly half of all cars sold in the U.S. last year were imported, according to industry data. Below…
By Lananh Nguyen and Manya Saini (Reuters) -Jefferies’ first-quarter profit missed Wall Street estimates on Wednesday as bond trading weakened and stock market deals were stalled due to uncertainty sparked by shifting U.S. trade policy and geopolitical turmoil. The results offer investors an early glimpse at how Wall Street’s investment banking units may fare in…
US stock futures held steady as a weary Wall Street took comfort in signs that President Donald Trump could offer leeway ahead of the next major tariff deadline. Futures attached to the Dow Jones Industrial Average (YM=F) flatlined. Futures attached to the benchmark S&P 500 (ES=F) and the tech-heavy Nasdaq Composite (NQ=F) ticked up 0.1%….
Tesla (TSLA, Financials) shares jumped 10% as of early afternoon trading on March 24, ending a prolonged nine-week slide that had slashed the stock’s value by nearly 50% from its recent peak. The electric vehicle manufacturer’s shares were $273.76 at 2:12 p.m. Eastern Daylight Time, 40% below the 52-week high of $488.54. The stock hit…
By Lisa Baertlein LOS ANGELES (Reuters) – President Donald Trump’s plan to revitalize the U.S. shipbuilding industry is likely to backfire because it relies on proposed fees on China-linked vessels that will hurt domestic ship operators and ports, industry executives will tell the U.S. Trade Representative at hearings this week. In particular, they will say…
By Chris Prentice NEW YORK (Reuters) -Days before Republicans took the helm of the U.S. Securities and Exchange Commission in January, the agency’s five commissioners held a closed-door vote on whether to sue Elon Musk. Since 2022, the agency had been investigating whether the billionaire, a close ally of incoming President Donald Trump, had violated…
(Corrects name of company to Corning in paragraph 2) BEIJING (Reuters) -China’s Vice Premier He Lifeng sought to reassure foreign corporate chiefs of the country’s business potential when he met with the heads of Apple, Pfizer, Mastercard, Cargill and others on Sunday. He also met with pharmaceutical firm Eli Lilly, medical device company Medtronic and…
(Bloomberg) — US stock-index futures climbed in early Asia trading on signs that the next round of President Donald Trump’s trade tariffs could be more measured than had previously been suggested. Asian equity futures pointed to an early loss. Most Read from Bloomberg S&P 500 futures rose 0.4% after the cash market closed marginally higher…