President Trump’s most sweeping tariffs face a landmark test of presidential powers, as the US Supreme Court is set to rule on the implications and legality of Trump’s global duties on trade partners. The high court’s first two opportunities to issue a verdict this year — the latest on Wednesday — have come and gone…
US stock futures edged higher on Thursday as President Trump’s sweeping tariffs hit dozens of US trade partners after his self-imposed deadline for countries to strike deals expired. Futures attached to the Dow Jones Industrial Average (YM=F) gained 0.4%. Futures attached to the benchmark S&P 500 (ES=F) and the tech-heavy Nasdaq 100 (NQ=F) rose 0.6%….
US stock futures slipped as the White House began to release the policy consequences of the expiration of President Trump’s trade deadline, including a baseline tariff rate of 10% and increased levies on Canada. Futures attached to the Dow Jones Industrial Average (YM=F) ticked down 0.2%. Futures attached to the benchmark S&P 500 (ES=F) fell…
The largest producer of aluminum in the US, Alcoa Corp., claims that tariffs cost it $115 million in Q2. Bloomberg reports: Alcoa Corp., the largest US aluminum producer, said tariffs on imports from Canada cost it $115 million in the second quarter, showing how US President Donald Trump’s trade agenda has affected the industry. The…
The largest producer of aluminum in the US, Alcoa Corp., claims that tariffs cost it $115 million in Q2. Bloomberg reports: Alcoa Corp., the largest US aluminum producer, said tariffs on imports from Canada cost it $115 million in the second quarter, showing how US President Donald Trump’s trade agenda has affected the industry. The…
US stocks retreated Friday after President Trump threatened Canada with a 35% tariff on its imports to the US and floated higher blanket levies on most trading partners. The S&P 500 (^GSPC) fell 0.3%, while the tech-heavy Nasdaq Composite (^IXIC) dipped 0.2%, both dipping from Thursday’s record highs. The Dow Jones Industrial Average (^DJI) declined…
By Rocky Swift TOKYO (Reuters) -The dollar rose for a third day against the yen on Wednesday as U.S. President Donald Trump pledged more trade-related proclamations after announcing 25% tariffs on Japan and other trade partners. The greenback advanced against major peers on Tuesday after Trump began telling trade counterparts that sharply higher U.S. tariffs…
US stock futures wavered as President Trump ratcheted up trade tensions with US trade partners. Futures attached to the Dow Jones Industrial Average (YM=F) and the benchmark S&P 500 (ES=F) held steady. Futures attached to the tech-heavy Nasdaq 100 (NQ=F) ticked up 0.1%. Stocks teetered lower on Tuesday as Trump spoke during a wide-ranging cabinet…
The Trump administration began sending letters on Monday to U.S. trade partners that higher import tariffs could kick in by Aug. 1. President Donald Trump’s 90-day pause on the April 2 “reciprocal” tariffs was set to end Wednesday. Trump signed an executive order Monday delaying Wednesday’s tariff deadline by a little over three weeks. Trump…
Major US trading partners scrambled over the weekend to finalize trade deals or lobby for extra time as President Donald Trump said he’s notifying about a dozen countries on Monday of the new tariff level on their shipments to the US. “I signed some letters and they’ll go out on Monday – probably 12,” Trump…