WASHINGTON — The Trump administration announced Tuesday it will provide $12 billion in emergency relief to ease the pain of American farmers slammed by President Donald Trump's escalating trade disputes with China and other countries. However, some farm-state Republicans quickly dismissed the plan, declaring that farmers want markets for their...
Farmers Fret and Wait as US-China Trade War Escalates
MINNEAPOLIS — Many anxious American farmers are delaying purchases and investment while hoping for a truce in a U.S.-China trade war that has left their crops at a competitive disadvantage overseas. The longer the Trump administration's tariffs remain in place, the more China's retaliatory tariffs against American exports stand to...
Japan, EU Sign Trade Deal Eliminating Nearly All Tariffs
TOKYO — The European Union and Japan signed a landmark deal Tuesday that will eliminate nearly all tariffs on products they trade. The ambitious pact signed in Tokyo runs counter to President Donald Trump's moves to hike tariffs on imports from many U.S. trading partners. It covers a third of...
Survey of Economists: US Sales and Hiring Likely to Grow
DETROIT (AP) — Most U.S. business economists expect corporate sales to grow over the next three months and hiring and pay to rise with them. But a majority of the economists surveyed by the National Association for Business Economics say the corporate tax cuts that the Trump administration pushed through...
China Vows Retaliation For $200 Billion US Tariff Threat
BEIJING — China's government vowed Wednesday to take "firm and forceful measures" as the U.S. threatened to expand tariffs to thousands of Chinese imports like fish sticks, apples and French doors, the latest salvo in an escalating trade dispute that threatens to chill global economic growth. China gave no details,...
Smart Money Is Pulling Out of Stock Market
Cash exited U.S. equity funds in June in the largest amount since the peak of the 2008 global financial crisis, according to Lipper data. Reuters reported July 5 the following: "U.S.-based stock mutual funds and exchange-traded funds (ETFs) recorded $36.3 billion in withdrawals overall for the month of June, according to...
US Adds 213,000 Jobs But Unemployment Rate Inches Up
WASHINGTON — U.S. employers kept up a brisk hiring pace in June by adding 213,000 jobs, a sign of confidence in the economy despite the start of a potentially punishing trade war with China. The job growth wasn't enough to keep the unemployment rate from rising from 3.8 percent to...
That 6% Growth Trump Predicted? It Won't Happen This Year.
Think back to December. Two weeks before Congress passed the Republican tax-reform bill, President Donald Trump predicted that, with tax cuts in place, the American economy would grow by as much as 6%. It's clear now that Trump's data-defying boast won't become reality — although the economy is performing better...
Harley, Stung by Tariffs, Shifts Some Production Overseas
MILWAUKEE — Harley-Davidson, up against spiraling costs from tariffs, will begin to shift the production of motorcycles headed for Europe from the U.S. to factories overseas. The European Union on Friday began rolling out tariffs on American imports like bourbon, peanut butter and orange juice. The EU tariffs on $3.4...
Trump Tariffs Worry Valley Farmers
How exactly will the Trump tariffs affect the economy? American businesses will soon find out and adjust as some of the United States’ largest trading partners announced retaliatory measures. Mexico and Canada announced a litany of products they plan to add extra taxes to, in response to the United States...