WASHINGTON — The U.S. trade deficit surged in July to $63.6 billion, the highest level in 12 years, as imports jumped by a record amount. The Commerce Department reported that the July deficit, the gap between what America buys and what it sells to foreigners, was 18.9% higher than the...
TJ Cox Endorsed by US Chamber of Commerce in Race vs. Valadao
The usually Republican-leaning U.S. Chamber of Commerce is going bipartisan with its endorsement in races for the House of Representatives this November. And, Rep. TJ Cox of Fresno is among 23 freshman Democrats endorsed by the influential business group. “Small businesses are the backbone of our Central Valley communities and...
Trump: New Trade Deal With Canada, Mexico to Boost US Growth
WASHINGTON — President Donald Trump on Wednesday signed into law a major rewrite of the rules of trade with Canada and Mexico that he said replaces the “nightmare" of a Clinton-era agreement and will keep jobs, wealth and growth in America. Trump made renegotiating the North American Free Trade Agreement a priority during his 2016 campaign,...
Senate Passes US-Canada-Mexico Trade Deal, a Trump Priority
WASHINGTON — The Senate overwhelmingly approved a new North American trade agreement Thursday that rewrites the rules of trade with Canada and Mexico and gives President Donald Trump a major policy win before senators turn their full attention to his impeachment trial. The vote was 89-10. The measure goes to...
Trump Ecstatic as Wall Street Sets Records Galore
Retailers and technology companies powered stocks broadly higher on Wall Street Thursday, extending the market's record-setting run. The Nasdaq composite climbed above 9,000 points for the first time as Apple led technology stocks higher. The Dow Jones Industrial Average and S&P 500 also climbed to new highs. The benchmark index...
UK Lawmakers OK Johnson’s Brexit Bill, Pave Way to Exit EU
LONDON — British lawmakers gave preliminary approval Friday to Prime Minister Boris Johnson’s Brexit bill, clearing the way for the U.K. to leave the European Union next month. The House of Commons voted 358-234 for the Withdrawal Agreement Bill. It will receive more scrutiny and possible amendment next month, and...
Ripples From Boeing's 737 Max Quagmire Begin to Spread
Boeing is suspending production of the 737 Max as hopes of getting its marquee aircraft back in the air quickly fade. The ramifications are likely to ripple beyond the factory floor of Boeing's plant in Renton, Washington, across both the aviation and manufacturing sectors. It could ultimately alter the country's...
US Gains a Robust 266,000 Jobs; Unemployment Falls to 3.5%
WASHINGTON — Friday’s November jobs report will provide insight into whether steady hiring remains a source of strength for the U.S. economy even as the Trump administration’s trade conflicts have heightened uncertainties for employers. Economists have forecast that the government will report that employers remained confident enough to add a...
Fed’s Powell Sees Steady Growth, Signals Pause in Rate Cuts
WASHINGTON — Federal Reserve Chairman Jerome Powell indicated Wednesday that the Fed is likely to keep its benchmark short-term interest rate unchanged in the coming months, unless the economy shows signs of worsening. But for now, in testimony before a congressional panel, Powell expressed optimism about the prospects for the...
Pence Takes Swipe at NBA, Nike in Critical Speech on China
WASHINGTON — Vice President Mike Pence took a swipe at Nike and the NBA on Thursday in a speech criticizing communist China's record on trade and human rights, saying American corporations have been too willing to ignore censorship and repression in pursuit of profits. Pence singled out the shoe company...