Temu, the Chinese e-commerce platform, has stopped shipping products from China directly to customers in the United States, a spokesperson for the company said on Friday. Instead, all of its U.S. orders will be shipped from local warehouses in America. The change comes as the Trump administration closed a loophole that allowed products made in…
Even before this year’s economic turmoil hit, financial anxiety among Americans was running high. Really high. Four out of five Americans in a survey for Discover last year said they were worried about their money situation, with inflation, everyday expenses and the state of the economy leading a litany of concerns. Nearly two-thirds said they…
Last week’s “Liberation Day” marked a kind of D-Day in the effort to reorder the international economic system. That reordering is desperately needed to address the system’s imbalances, which have led to deindustrialization and annual trillion-dollar trade deficits for the United States. But remember, far from striking World War II’s decisive blow, D-Day was just…
U.S. oil prices fell sharply, briefly dipping below $60 a barrel on Sunday — their lowest level in almost four years — as the economic fallout from President Trump’s latest round of tariffs reverberated around the world. Crude oil now costs around 15 percent less than it did last Wednesday, just before Mr. Trump revealed…
Jaguar Land Rover, the British luxury automaker, said on Saturday that it was pausing shipments to the United States in April, days after President Trump’s auto tariffs went into effect. The company, which makes luxury cars that include Jaguars, Defenders and Range Rovers, does not have manufacturing facilities in the United States and exports all…
President Trump announced what could be one of the most dramatic economic policy changes in decades on Wednesday, when he substituted America’s longstanding system of taxing imports with a new tariff system of his own devising. The president said the tariffs would reverse decades of unfair treatment by the rest of the world and result…
President Trump has accused America’s trading partners of undermining the United States for decades, saying they have engaged in unfair trade practices to steal the country’s wealth and enrich their own economies. He has set his sights on not only adversaries like China, but also traditional allies like Canada and Europe. And he has complained…
President Trump is set to unveil his most expansive tariffs to date on Wednesday afternoon, when he will detail potentially punishing levies on countries around the globe, including America’s largest trading partners. Mr. Trump has promised for months to impose what he calls “reciprocal” tariffs, which the president says will correct years of “unfair” trade…
Automakers can respond to President Trump’s new 25 percent tariffs on imported cars and parts in several ways. But all of them cost money and will lead to higher car prices, analysts say. Manufacturers can try to move production from countries like Mexico to the United States. They can try to increase the number of…
There is no doubt the tariffs that President Trump said he would impose on imported cars, trucks and auto parts next week will raise prices by thousands of dollars for consumers. What is not clear is how soon those increases will kick in, how high they will go and which models will be affected the…