WASHINGTON (AP) — U.S. wholesale inflation surged unexpectedly last month, signaling that President Donald Trump’s sweeping taxes on imports are pushing costs up and that higher prices for consumers may be on the way. The Labor Department reported Thursday that its producer price index — which measures inflation before it hits consumers— rose 0.9% last…
MANILA, Philippines (AP) — World shares were mixed on Friday, with Asian stocks mostly lower while Tokyo’s benchmark spiked more than 2% after Japanese officials said they had resolved questions over the tariff that will apply to exports to the U.S. In early European trading, Germany’s DAX lost 0.3% to 24,131.01. The CAC 40 in…
MANILA, Philippines (AP) — World shares mostly advanced and financial markets appeared to show scant if any reaction to President Donald Trump’s higher tariffs on exports to the United States that took effect early Thursday. In early European trading, Germany’s DAX rose 0.9% to 24,137.51. In Paris, the CAC 40 added 0.8% to 7,693.36, while…
WASHINGTON (AP) — U.S. and Chinese officials may be able to settle many of their differences to reach a trade deal and avert punishing tariffs, but they remain far apart on one issue: the U.S. demand that China stop purchasing oil from Iran and Russia. “China will always ensure its energy supply in ways that…
WASHINGTON (AP) — President Donald Trump’s tariff onslaught this week left a lot of losers – from small, poor countries like Laos and Algeria to wealthy U.S. trading partners like Canada and Switzerland. They’re now facing especially hefty taxes – tariffs – on the products they export to the United States starting Aug. 7. The…
BRUSSELS (AP) — European leaders are meeting with top Chinese officials in Beijing on Thursday to discuss trade, climate change and global conflicts, with observers saying expectations were low for any solid agreements. The talks, initially supposed to last two days but scaled back to one, come amid financial uncertainty around the world, wars in…
BANGKOK (AP) — China’s economy slowed in the last quarter as President Donald Trump’s trade war escalated, but it still expanded at a robust 5.2% pace, the government said Tuesday. That compares with 5.4% annual growth in January-March. The government said Tuesday that in quarterly terms, the world’s second largest economy expanded by 1.1%. In…
WASHINGTON (AP) — In the past week, President Donald Trump has managed to make his erratic trade policies even more baffling to countries desperate to negotiate an escape from his wrath. Doubling down on his trade wars, Trump is threatening to raise taxes on many goods from Canada, hike his universal tariff on imports from…
A trade war. A real war with bombs dropped in the Middle East. A barrage of insults hurled by the president of the United States at the head of the Federal Reserve. The stock market has powered through all of that in the past few months to set a new record Friday and reward investors…
WASHINGTON (AP) — President Donald Trump said Friday that he’s suspending trade talks with Canada over its plans to continue with its tax on technology firms, which he called “a direct and blatant attack on our country.” Trump, in a post on his social media network, said Canada had just informed the U.S. that it…