Washington — Federal Reserve governor Adriana Kugler will step down early from her post on the central bank’s board, the Fed announced Friday, creating an open position for President Trump to fill. The vacancy comes at a critical time for Mr. Trump, who has pressured the Fed to cut interest rates. Kugler’s replacement will sit…
President Trump’s special envoy Steve Witkoff and U.S. Ambassador to Israel Mike Huckabee visited southern Gaza on Friday amid international outrage over starvation, aid shortages and deadly chaos near aid distribution sites. Witkoff and Huckabee toured one of the privately run U.S. and Israeli-backed Gaza Humanitarian Foundation’s distribution sites, Huckabee said. The aim of the…
Catch up on some of SCMP’s biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing. 1. Beijing denies threat as FBI opens new office in New Zealand to ‘counter China’ Claims by the head of the FBI that China is a threat to the Indo-Pacific…
President Trump on Thursday formally announced higher tariffs against more than 60 U.S. trading partners starting next week — just hours before the administration’s self-imposed midnight deadline. The president signed an executive order listing out tariff rates for imports from dozens of countries, including a handful that have cut trade deals with the administration and…
Most of the more than 109,000 arrests carried out by U.S. Immigration and Customs Enforcement during the first five months of President Trump’s second term took place in border and Southern states, according to a CBS News analysis of government data. States in the southern U.S., as well as those along the border with Mexico,…
President Trump announced Wednesday that the U.S. would impose tariffs of 25% on imports from India — in addition to an unspecified “penalty” — for what he said were its high tariffs and trade barriers, and for its large purchases of military equipment and energy from Russia. Mr. Trump posted about the tariffs on India…
Investors await key economic data Investors await new key economic data, interest rate decision 03:36 The U.S. economy surged between April and June after shrinking in the first three months of the year, driven by a large shift in imports tied to President Trump’s trade policies. By the numbers The country’s GDP increased at an…
The desperate plight of starving Gazans has captured the world’s attention. Children are dying of malnutrition. Over 1,000 Palestinians have been killed while attempting to receive aid. The United Nations World Food Program has found that one-third of Gaza’s roughly 2.1 million residents are not eating for multiple days in a row. More than 100…
The new trade agreement between the U.S. and the European Union will lift tariffs on imports of goods from EU countries to their highest level in decades and hurt the trading bloc’s economic growth, according to some experts. “It is an asymmetric and unbalanced deal,” economists with investment bank Société Générale said in a…
Howard Lutnick, U.S. Secretary of Commerce speaks during the Pennsylvania Energy And Innovation Summit 2025 at Carnegie Mellon University in Pittsburgh on July 15, 2025. David A. Grogan | CNBC Commerce Secretary Howard Lutnick said Sunday that the European Union should agree to open its markets for U.S. exports to convince President Donald Trump to…