Markets surged midweek after President Trump said he had “no intention” of removing Federal Reserve Chair Jerome Powell. The comment, made late Tuesday, appeared to ease investor anxiety over leadership stability at the Fed and added to hopes that the trade conflict with China might soon cool off. What to Know: Trump’s assurance on Powell…
Tensions between the world’s two largest economies are climbing again as President Trump threatens to slap an additional 50% tariff on Chinese goods. In response, Chinese President Xi Jinping has taken a hardline stance, with Beijing accusing Washington of “blackmail” and pledging to “fight to the end.” The high-stakes standoff is fueling fears of a…
American homebuilders are bracing for the impact of a budding trade war with China as President Donald Trump threatens to hit Beijing with a 50 percent additional levy on its imported goods, unless it takes back its 34 percent reciprocal tariff. “While the complexity of these reciprocal tariffs makes it hard to estimate the overall…
Top White House trade adviser Peter Navarro claimed on Sunday that billionaire Elon Musk is “simply protecting his own interests” after the Tesla CEO spoke about the administration’s sweeping new tariff policies. Newsweek reached out to Navarro’s office and Musk via email on Sunday for comment. Why It Matters Musk saw around $11 billion shaved…
President Donald Trump has denied that he intended to crash the stock market after he previously posted a video on Truth Social about him crashing the market on purpose. The president addressed the matter while aboard Air Force One, during a press gaggle with reporters as he returned to Washington, D.C., after playing golf all…
And as U.S. stock markets plunged following his announcement of sweeping tariffs on 180 countries this week, Trump beamed that all would soon rebound and boom. America’s heading to glory days. Vice President JD Vance, meanwhile, complained critics were taking far too short-term a view: “We’re going to have a booming stock market for a…
As the global markets plummeted for a second consecutive day in reaction to Donald Trump‘s tariffs announcement, the president has shared a video on social media that claims that the crash is intentional. Trump posted a link to the video to Truth Social, his social media platform, on Friday morning. The video’s caption on X,…
By Gabe Whisnant is a Breaking News Editor at Newsweek based in North Carolina. Prior to joining Newsweek in 2023, he directed daily publications in North and South Carolina. As an executive editor, Gabe led award-winning coverage of Charleston church shooter Dylan Roof’s capture in 2015, along with coverage of the Alex Murdaugh double murder…
Elon Musk’s favorability dropped 10 points from February to March in the latest Harvard/Harris poll. Newsweek reached out to Musk for comment via Tesla‘s press email. Why It Matters President Donald Trump assigned Musk to lead the Department of Government Efficiency (DOGE), a task force tasked with cutting unnecessary government spending. Musk, however, has faced…
The Wisconsin Supreme Court declined on Sunday to hear a case brought against billionaire Elon Musk by the Midwestern state’s Attorney General Josh Kaul, a Democrat, over payments that the world’s wealthiest man has offered to individuals who sign an election-related petition. Why It Matters The April 1 Supreme Court election in Wisconsin will determine…