tariffs

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US, China Signed Trade Deal, Trump Says

President gave no details of the agreement

(Newser) - The US and China have signed an agreement on trade, President Trump said, adding he expects to soon have a deal with India. Commerce Secretary Howard Lutnick told Bloomberg TV that the deal was signed earlier this week. Neither Lutnick nor Trump provided any details about the agreement, the AP...

As Retail Spending Drops, Amazon Doubles Prime Day

4-day sale comes as retail spending shows sharp decline

(Newser) - Amazon is doubling the length of its Prime Day event this year, stretching the sale from the usual 48 hours to a record 96, in the hopes that the extra time will entice deal-seeking shoppers as Americans tighten their wallets, Quartz reports. The move comes as new Commerce Department...

Toy Companies Ask SCOTUS for Quick Tariffs Ruling

Educational firms hope to leapfrog federal appeals court

(Newser) - The Supreme Court is getting a chance to speed up its inevitable review of the legality of President Trump's tariffs. Two companies that make educational toys petitioned the court on Tuesday to put their case on an expedited track, reports Bloomberg . The joint appeal filed by Learning Resources and...

China Sees $500B Trade Surplus by Redirecting Exports

It's sending goods to Southeast Asia, Europe, Latin America instead of to the US amid steep tariffs

(Newser) - China is once again shaking up global trade, but this time the disruption isn't hitting the United States directly. After being squeezed by President Trump's tariffs, Chinese factories are redirecting exports—everything from toys to electric vehicles—to markets in Southeast Asia, Europe, and Latin America. The...

Americans Put the Brakes on Their Spending Spree

Consumers turn cautious and retail sales slide after a spring binge to beat tariffs

(Newser) - Retail sales fell sharply in May as consumers pulled back from a spending surge earlier this year to get ahead of President Trump's sweeping tariffs on nearly all imports. Sales at retail stores and restaurants dropped 0.9% in May, the Commerce Department said Tuesday, after a decline of...

Trump on US-UK Trade Deal: 'It's Done'

Though steel imports are still being negotiated

(Newser) - US President Trump and British Prime Minister Keir Starmer said Monday that they had signed a trade deal that will slash tariffs on UK auto and aerospace industry imports—but they are still discussing how to handle steel production, the AP reports. The pair spoke to reporters at the Group...

Latest Hit From Trump's Trade War: Household Appliances

A range of products will see expanded steel tariffs later this month; consumers may pay for it

(Newser) - If you've been putting off buying a new dishwasher, fridge, or washing machine to try to wait out the Trump administration's tariffs blitz, you may be waiting a little longer. On Thursday, the Commerce Department put up a notice that a range of household appliances will be hit...

There's Good News, Bad News About Breakfast

Egg prices have cooled, but now the cost of bacon is soaring

(Newser) - As egg prices cool off, bacon is now sizzling, with nearly 20% price hikes since last year. According to grocery price data from NIQ, the average price of pork bacon jumped 18% between May 2023 and May 2024, with a 5.7% increase from April to May alone, reports...

World Bank Sees US Growth Being Cut in Half

Lender blames the effects of tariffs

(Newser) - The World Bank forecast on Tuesday that President Trump's trade wars are expected to slash economic growth this year in the United States and around the world, per the AP . Citing "a substantial rise in trade barriers'' but without mentioning Trump by name, the 189-country lender predicted...

US and China Hold Trade Talks in London

Discussions to last a day, at least

(Newser) - High-level delegations from the United States and China are meeting in London on Monday to try and shore up a fragile truce in a trade dispute that has roiled the global economy. A Chinese delegation led by Vice Premier He Lifeng is due to meet US Commerce Secretary Howard Lutnick,...

Trump's Punishing Steel, Aluminum Tariffs Kick In
Trump's Punishing
Steel, Aluminum
Tariffs Kick In
the rundown
Jun 4, 2025 7:53 AM CDT

Trump's Punishing Steel, Aluminum Tariffs Kick In

President announced jump from 25% to 50% on Friday

(Newser) - Steel and aluminum imports into the US just got hit with a heavy blow, with President Trump doubling tariffs to 50% at 12:01am Wednesday and challenging America's trading partners to strike last-minute deals or face stiffer penalties in July. The heightened duties, which CNN reports were announced...

Consumers Hedge on Shopping, but Not Here

Dollar General posts record sales amid tariffs; its stock rises, as does Dollar Tree's

(Newser) - Dollar General set a quarterly sales record and upgraded its annual profit and sales outlook as Americans tighten their budgets and spend more at bargain stores amid economic uncertainty. The US economy shrank at a 0.2% annual pace from January through March, the first drop in three years, as...

Amid Threat of Tariffs, a New Wave of Customs Fraud

Fraudulent schemes offer US importers ways to sidestep steep duties

(Newser) - As the US prepares to ( maybe ) ramp up tariffs on foreign goods, a surge of shadowy offers from overseas shippers promising to make the taxes "disappear" has ignited a new wave of customs fraud—leaving honest American businesses scrambling to keep up. As tariffs imposed by...

Amid Tariffs, Wedding Vendors 'Are Shaking in Their Boots'

The industry is taking a hit, with rising prices for cake, flowers, attire as Trump trade war rages on

(Newser) - Krista Vasquez had her heart set on getting married in a body-hugging, halter-style gown from Spain. In April, the Atlanta paramedic learned her dream dress would cost nearly $300 more due to new US tariffs on imported goods. After finding that other dresses from Europe came with tariff-driven price increases...

Trump Tries to Ease Workers' Minds on Nippon-US Steel Deal

President says US Steel will 'stay an American company,' vows to double steel tariffs to 50%

(Newser) - President Trump on Friday told Pennsylvania steelworkers he's doubling the tariff on steel imports to 50% to protect their industry, a dramatic increase that could further push up prices for a metal used to make housing, autos, and other goods. In a post later on his Truth Social platform,...

Trump Slams China, and Markets Dip
Trump Slams China,
and Markets Dip
May 30, 2025 9:00 AM CDT

Trump Slams China, and Markets Dip

President accuses Beijing of violating new trade deal

(Newser) - The good vibes with China aren't so good anymore. President Trump on Friday lashed out at Beijing, accusing it of violating a new deal with the US on trade, reports the Wall Street Journal . Markets slumped in response, with Dow opening down about 100 points, or roughly 0.3%,...

Appeals Court Reinstates Trump Tariffs
Appeals Court
Reinstates
Trump Tariffs
UPDATED
May 29, 2025 4:35 PM CDT

Appeals Court Reinstates Trump Tariffs

Ruling came after a second federal court found tariffs issued under emergency powers unlawful

(Newser) - President Trump's tariffs were reinstated by a federal appeals court ruling on Thursday. The court's ruling came after a second federal court found that an emergency powers law does not give Trump authority to enact tariffs, and that most of the ones he's already ordered after invoking...

Court Ruling Blows Up Trump's Tariff Leverage
Court Ruling Blows Up
Trump's Tariff Leverage
the rundown
May 29, 2025 6:11 AM CDT

Court Ruling Blows Up Trump's Tariff Leverage

Federal body invalidates most of them, and world markets are happy

(Newser) - President Trump upended world trade with his tariffs. Wednesday's decision from a federal court upends Trump's ability to continue upending things. For now, markets are thrilled that the court has taken away Trump's ability to wield most tariffs the way he has, but the administration plans to...

Trade Court Throws Out Tariffs, Ruling Trump Lacks Authority

Three-judge panel doesn't buy national emergency argument

(Newser) - President Trump does not have the authority to impose broad tariffs on imports, a federal court ruled Wednesday, rejecting the argument that the 1977 International Emergency Economic Powers Act gives him that power. The US Court of International Trade had been asked to issue an injunction in the case involving...

Trump Lashes Out at 'Nastiest Question'

He was asked about the term TACO, standing for 'Trump always chickens out'

(Newser) - President Trump isn't happy about a term coined by Financial Times reporter Robert Armstrong for markets' reaction to his tariffs: TACO, standing for "Trump always chickens out." Trump was clearly irritated when a reporter asked him about the term on Wednesday. "I've never heard that....

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