tariffs

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Dimon: Tariffs Must Be Resolved Quickly

If not, JPMorgan CEO warns of inflation, slower growth, and possibly recession in his annual letter

(Newser) - Jamie Dimon and other prominent names on Wall Street are voicing rising concerns about the effect of President Trump's tariffs on world markets. "We are likely to see inflationary outcomes," the CEO of JPMorgan Chase wrote in his closely watched annual letter to investors on Monday, reports...

'You Have to Take Medicine,' Says Trump as Markets Plunge

Benchmark US index poised to enter bear market on Monday

(Newser) - US stock futures dropped further Sunday night and Monday morning, indicating Monday will continue the two-day worldwide sell-off for financial markets that started with President Trump's "Liberation Day" tariff announcement last week. Dow futures were down more than 1,110 points, just above 3%, early Monday; S&P...

After Musk Splits on Tariffs, Navarro Says 'He Sells Cars'

Back-and-forth includes criticism of a Harvard doctorate and of a Tesla perspective

(Newser) - After Elon Musk expressed a view on tariffs far from President Trump's, he heard publicly on Sunday from another presidential adviser. The billionaire had told a gathering organized by a right-wing politician in Italy on Saturday, NBC News reports, that "Europe and the United States should move, ideally,...

UK's Jaguar Land Rover Halts Shipments to US

Automaker makes its move amid tariffs from Trump administration on imported cars

(Newser) - The British maker of Jaguar and Land Rover cars is pausing shipments to the United States as it works to mitigate the impact of a 25% tax on vehicle imports imposed by the Trump administration. Jaguar Land Rover Automotive, one of Britain's biggest carmakers, said Saturday that the pause...

Newsom to Countries: Cut Deals With California

The state is 'ready to talk' to other nations in wake of tariffs, says governor

(Newser) - If a global trade war is erupting, California would like to be left out of it. Gov. Gavin Newsom said Friday that his state will try to negotiate its own deals with other nations, Fox News reports. With foreign governments responding in kind to the US actions, the Democrat said...

Dow Plunges More Than 2K as Selloff Continues

'The world has changed,' says a BlackRock analyst

(Newser) - The worldwide sell-off for financial markets moved into an even higher, scarier gear on Friday, per the AP .
  • The Dow fell 2,231 points, or 5.5%, to 38,314. This follows Thursday's plunge of nearly 1,700 points.
  • The S&P 500 fell 322 points, or 5.9%,
...

Ford, Stellantis Offer Employee Pricing to All

Moves come in response to the new tariffs

(Newser) - While foreign automakers talk about the import fees they'll be adding to the price tags of cars sold in the US amid the Trump administration's latest round of tariffs, Ford Motor Co. has better news for purchasers of its homegrown vehicles. On Thursday, the same day that US...

Tariffs Hit the Gaming World With Nintendo Move

Company delays pre-orders in the US of the highly anticipated Switch 2 console

(Newser) - Gamers, meet tariffs. Nintendo has delayed pre-orders in the US of its new Switch 2 console because of the unexpectedly high tariffs imposed by President Trump this week, reports the BBC . "Pre-orders for Nintendo Switch 2 in the US will not start April 9 in order to assess the...

Trump to Powell: Cut Rates. Powell: Nope, Not Yet

Fed chief warns that tariffs will likely lead to at least a temporary uptick in inflation

(Newser) - Fed chief Jerome Powell weighed in on the tariffs of President Trump on Friday, saying that the central bank is worried about their effect on inflation but isn't ready to make a move on interest rates.
  • "We are well positioned to wait for greater clarity before considering any
...

'Disruptive US Policies' Just Jacked Recession Risk: JPMorgan

Risk of US, global recession now at 60%, up from 40%, per the Wall Street giant's strategists

(Newser) - President Trump referred to Wednesday as "Liberation Day" as he enacted "reciprocal" tariffs against even more countries across the globe, but now JPMorgan is warning that the risk of recession just escalated steeply. In a Thursday note, the Wall Street giant's strategists, led by Bruce Kasman, say...

Markets Are on Course for Another Rough Day
After China's Tariff Move,
More Market Misery
UPDATED
Apr 4, 2025 8:55 AM CDT

After China's Tariff Move, More Market Misery

'Investors are selling first and asking questions later'

(Newser) - The stock market did indeed continue to plunge at the start of Friday's trading, per CNBC :
  • The Dow sank more than 1,000 points in the first 20 minutes of trading, or 2.5%.
  • The benchmark S&P 500 fell 2.9%, and the tech-focused Nasdaq fared slightly worse,
...

China Announces Massive Tariffs on All US Imports

34% tariffs match Trump's new tariffs

(Newser) - China has fired back at President Trump's "reciprocal" tariffs with massive tariffs on imports from the US. The state-run Xinhua news agency said Friday that China will impose additional tariffs of 34% on all US imports—matching the new tariffs Trump announced Wednesday—starting Thursday. Stocks in Europe...

Volkswagen Announces Its Response to Trump's Tariffs

It's adding 'import fees'

(Newser) - In the wake of President Trump's "Liberation Day" tariffs, Volkswagen is adding a new fee to its vehicles. The German automaker told its dealers that later this month, an import fee will be added to the price of cars sold in the United States. The New York Times...

Trump's Tariff Formula Is Surprisingly Simple
Trump's Tariff Formula
Is Surprisingly Simple
the rundown
Apr 3, 2025 2:00 PM CDT

Trump's Tariff Formula Is Surprisingly Simple

A nation's trade deficit divided by its exports to the US, which is then divided by 2

(Newser) - So how did the US figure out the individual tariffs it levied on different nations? The White House posted an explainer with complicated-looking formula, but the BBC unpacks it to find a "simple" one beneath. As does CNN , which explains it succinctly:
  • "The country's trade deficit divided
...

Loophole That Let Temu Thrive Will Be Closed May 2

Trump is ending 'de minimis' tariff exemption for low-cost packages from China

(Newser) - A loophole that allowed millions of Americans to buy cheap, tariff-free goods from online Chinese retailers like Temu and Shein is being closed as part of President Trump's "Liberation Day" tariff actions. In an executive order Wednesday, Trump eliminated the "de minimis" exemption for packages worth under...

Tariffs Hit One Puzzling Locale
Tariffs
Hit One
Puzzling
Locale
Apr 3, 2025 10:10 AM CDT

Tariffs Hit One Puzzling Locale

Antarctic islands have no humans, lots of penguins

(Newser) - The unveiling of President Trump's tariffs on Wednesday had White House journalists reaching for their atlases—or at least Google. On the list of penalized nations is one that's actually an Australian territory in the Antarctic called Heard Island and McDonald Islands. Its inclusion is a bit of...

Stock Market Suffers a Brutal Opening

S&P 500 down more than 3%, on track for worst day in 2 years after tariff rollout

(Newser) - The stock market opened on Thursday exactly as predicted —with a thud. Investors seemed rattled as they continued to digest the implications of President Trump's bigger-than-expected tariffs , reports the Street .
  • The Dow fell more than 1,100 points, or 2.7%.
  • The S&P 500 fell 187 points,
...

5 Takes On the Trump Tariffs
5 Takes On the Trump Tariffs
the rundown
Apr 3, 2025 7:52 AM CDT

5 Takes On the Trump Tariffs

Wall Street Journal editorial fears recession 'or worse,' but much depends on other nations' response

(Newser) - The tariffs unveiled by President Trump on Wednesday represent the "most ambitious economic realignment the American people have ever seen," a White House official tells Axios , and the outlet finds that "it's hard to disagree." But there is much disagreement on whether this realignment will...

There's a Notable Absence Among Nations Hit With Tariffs

Russia's not on the list, but the White House says that's because existing sanctions are so severe

(Newser) - The broad new tariffs unveiled by President Trump on Wednesday impose financial penalties on pretty much every country of note. However, Axios points out that one major nation is missing from the list—Russia. The White House says it isn't about favoritism: Press secretary Karoline Leavitt says existing sanctions...

Markets Sink After Tariffs Are Bigger Than Expected

Dow futures are down more than 1.1K points

(Newser) - The US stock market is poised to open with a steep plunge on Thursday in the wake of President Trump's tariff rollout, reports the Wall Street Journal . World markets sank as well.
  • Dow futures fell more than 1,100 points, or 2.6%, per CNBC . The benchmark S&P
...

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