BEIJING — China's trade with the United States plunged last month as a tariff war battered exporters on both sides of the Pacific Ocean. And there's no letup in sight: Tensions between the world's two biggest economies continue to simmer even though President Donald Trump and his Chinese counterpart, Xi...
In Trump Aid Package for Farmers, Many Blow Past Caps
MINNEAPOLIS — When President Donald Trump's administration announced a $12 billion aid package for farmers struggling under the financial strain of his trade dispute with China, the payments were capped. But many large farming operations had no trouble finding legal ways around them, records provided to The Associated Press under...
Impact of Trump's Tariffs on Americans Explained
President Donald Trump's international trade war might have made sense from an American perspective in the 19th century. Certainly, Trump is to be commended for trying to protect U.S. patents, trade secrets, and intellectual properties. China, as we know, doesn't always play by the rules. He's also trying to support...
More Bad News for Almond Growers: India Enacts 70% Tariff
India is on President Donald Trump's trade war hit list and that's bad news for California's almond growers. India has struck back against the United States by imposing tariffs on 28 products. Among them: almonds, apples, lentils, and walnuts. The 70% tariffs went into effect Sunday. They are retaliation for...
Huawei Says US Sanctions Will Cost It Billions in Revenue
SHENZHEN, China — Huawei's founder said Monday that the Chinese telecom giant's revenue will be $30 billion less than forecast over the next two years, as he compared the company to a "badly damaged plane" as a result of U.S. government actions against it. "We never thought that the U.S.'s...
Is a Recession Coming? One Key Indicator Shouts Yes.
What happens when the interest rate for a 3-month Treasury bill is higher than the interest rate for a 10-year note? Many investors and economists sound the alarm about a coming recession. That's what happened Tuesday as the 3-month bill yield rose to 2.36% while the 10-year note yield dropped to...
Valley Nut and Fruit Growers Get Relief in China Trade War
Growers of grapes, tree nuts, and cranberries got good news from Agriculture Secretary Sonny Perdue on Thursday morning. The U.S. Department of Agriculture will provide up to $16 billion in aid to farmers impacted by the tariff battle with China initiated by President Donald Trump. A statement from the USDA...
Iran’s Top Diplomat Presses Efforts to Save Nuclear Deal
TEHRAN, Iran — Iran's foreign minister traveled Friday to China on his Asian tour aimed at keeping world markets open to Tehran amid an intense sanctions campaign from the U.S. as tensions across the Persian Gulf remain high. Concerns about a possible conflict have flared since the White House ordered...
Trade Battle: China Raises Tariffs on $60 Billion in U.S. Goods
BEIJING — Deepening its trade battle with the U.S. and sending financial markets spinning, China announced tariff hikes Monday on $60 billion of American goods in retaliation for President Donald Trump's latest penalties on Chinese products. Punitive charges of 5% to 25% on thousands of American products including batteries, spinach...
Wall Street Keeps Hitting Records. What Do Investors Do Now?
The S&P 500 just hit an all-time high, recovering from last year's dramatic plunge. The economy seems to be on fairly solid footing, still it's anyone's guess what happens next for the stock market. So what does this mean for the average investor? Here are answers to some questions about...