(Bloomberg) — China’s government is considering suspending its 125% tariff on some US imports, people familiar with the matter said, as the economic costs of the tit-for-tat trade war weigh heavily on certain industries. Most Read from Bloomberg Authorities are considering removing the additional levies for medical equipment and some industrial chemicals like ethane, the…
After weeks of pain, the stock market is eyeing some relief from tariffs and fears about Donald Trump’s encroachment on the Federal Reserve. US stocks soared Wednesday after comments from Trump helped ease two major headwinds for the stock market: steep tariffs on China and the early termination of Federal Reserve Chairman Jerome Powell. Here’s…
Tesla is off to a bumpy start this year. The electric vehicle giant’s profit plunged 71% in the first quarter to $409 million as the company faced a flurry of setbacks, including looming tariffs and a brand crisis perpetuated by Chief Executive Elon Musk’s prominent role in the Trump administration. The Austin, Texas-based company reported…
US President Donald Trump has again rattled global investment markets, this time with his threats to interfere with the independence of America’s central bank. The president has ramped up his war with the US Federal Reserve, calling chair Jerome Powell a “major loser” and demanding interest rates be cut immediately, in a re-run of his…
The U.S. tariff rate on Chinese goods now stands at 145%, according to The White House. Spencer Platt | Getty Images News | Getty Images While recent news of United States President Donald Trump’s on-again off-again tariffs has led to wild swings in markets and shaken businesses globally, companies that rely on open trade between…
US Dollar Photo credit: Getty Images I’m an optimist, and I invest accordingly—for the long term. But I’ve learned that staying optimistic doesn’t mean ignoring macroeconomic headwinds. One to note in particular is the weakening of the U.S. dollar. Not just as a matter of technical FX movement, but as a signal of political ambition,…
President Donald Trump has amped up his attacks on Federal Reserve Chair Jerome Powell in recent days. On Thursday, Trump said he was “not happy” with Powell. On Friday, National Economic Council Director Kevin Hassett said Trump’s team would “study” whether the president could remove Powell. Later that day, Trump criticized Powell for not lowering…
Among the “Magnificent Seven” Big Tech stocks, Apple (AAPL) and Nvidia (NVDA) have found themselves at the forefront of Trump’s trade war. This week, for better and worse. The two tech stocks’ volatility since Trump’s “Liberation Day” reciprocal tariff announcement on April 2 is one of the more salient examples of how investors are battling…
Hong Kong’s top Catholic priest has called on residents to be hopeful and united to make a difference despite escalating trade tensions between the US and China. In his Easter message on Thursday, Cardinal Stephen Chow Sau-yan, head of the Catholic diocese of Hong Kong, said that sentiment around the world had become pessimistic with…
President Donald Trump, right, speaks as Jerome Powell, Trump’s nominee as chairman of the Federal Reserve, listens during a nomination announcement in the Rose Garden of the White House in Washington, D.C., Nov. 2, 2017. Olivier Douliery | Bloomberg | Getty Images White House economic adviser Kevin Hassett said on Friday that President Donald Trump…