The US economy contracted at a 0.2% annual pace from January through March, marking the first quarterly decline in three years, as President Donald Trump’s trade policies disrupted business activity. The Commerce Department released the revised estimate Thursday, slightly improving on its initial figure.The drop in gross domestic product (GDP) — the broadest measure of…
China is “open to talks” with the United States on tariffs, National Economic Council Director Kevin Hassett said on Wednesday, signalling a possible thaw in ongoing trade tensions as the US Trade Representative (USTR) intensifies negotiations with foreign partners. Speaking to Fox News’ The Ingraham Angle on Wednesday, Hassett revealed that 18 written offers have…
Canadian Prime Minister Mark Carney announced that starting at 12:01 EDT on Wednesday, Canada will enforce a 25% tariff on certain US-made vehicles that fail to meet the requirements of the Canada-United States-Mexico Agreement (CUSMA) trade deal. “At 12:01 EDT (0400 GMT) tonight, Canada’s counter-tariffs will come into force,” Mark Carney said on his X…
At a White House Rose Garden event on Wednesday on what he called “Liberation Day” for the US, India became a middling victim in Trump’s take-no-prisoner approach that treated friend and foe alike with a two-tier tariff: a baseline tax of 10% on all countries that will go into effect on April 5, and additional…