WASHINGTON (AP) — From an ice cream parlor in California to a medical supply business in North Carolina to a T-shirt vendor outside Detroit, U.S. businesses are bracing to take a hit from the taxes President Donald Trump imposed Saturday on imports from Canada, Mexico and China — America’s three biggest trading partners. The levies…
WASHINGTON (AP) — The Department of Government Efficiency, run by President Donald Trump’s billionaire adviser and Tesla CEO Elon Musk, has gained access to sensitive Treasury data including Social Security and Medicare customer payment systems, according to two people familiar with the situation. The move by DOGE, a Trump administration task force assigned to find…
Hong Kong’s finance chief should spend within the city’s means given the expected whopping deficit, a rural leader has said after drawing a fortune stick that advised residents against greed as part of a Lunar New Year ritual. Kenneth Lau Ip-keung, chairman of powerful rural body the Heung Yee Kuk, drew a “neutral” stick at…
Tax season is now underway, with the IRS accepting returns for all taxpayers as of Jan. 27. That’s prompting many people to turn to the “Where’s my refund?” app from the tax agency to track when they’ll get their check. Americans are expected to file about 140 million returns before the April 15 deadline. Last…
It was what Wall Street wanted. And this week at least, it’s what Wall Street is getting: A market-friendly Donald Trump – talking up policies to boost growth and lower taxes, while dialing back plans to immediately disrupt the world trading order. Despite the protectionist threats of the campaign trail, Trump held off on imposing…
A key economic priority for President Trump this year is to extend the provisions in his signature Tax Cuts and Jobs Act, a 2017 law that lowered tax rates for most Americans, before they expire at the end of 2025. Now, Republican lawmakers have developed a 50-page laundry list of ideas for how to pay…
President Donald Trump stepped up pressure on Russia to negotiate an end to the war in Ukraine, and threatened financial penalties on the country if it refuses to conclude fighting swiftly. In a Truth Social post on Wednesday, Trump said Russian President Vladimir Putin should make a deal “soon,” or else he would “have no…
A man in China whose 10 million yuan (US$1.4 million) lottery jackpot was falsely claimed by another person has won a lawsuit demanding the money back. However, the man, surnamed Yao, has still not received his winnings after a five-year battle to secure his rights. The case has attracted huge attention on mainland social media…
President-elect Donald Trump made claims about the history of U.S. tariff collection as he defended his plan to raise tariffs on goods from countries like China and Mexico in a news conference this week, claims historians say are at odds with the facts. In particular, Trump exaggerated the impact of tariff hikes during his first…
In 2017, Norway set a goal of eliminating sales of fossil-fuel-powered cars by 2025. At the time it seemed like little more than a feel-good fantasy to soften the image of a government led by Erna Solberg, a conservative advocate of oil production who’d earned the sobriquet “Iron Erna.” But as the deadline approaches, it…