President Trump announced what could be one of the most drastic economic policy changes in decades on Wednesday, when he substituted America’s longstanding system of taxing imports with a new tariff system of his own devising. The president said the tariffs would reverse decades of what he called unfair treatment by the rest of the world and result in factories …
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After Trump Tariffs, Volkswagen to Add ‘Import Fees’ to Cars Sold in U.S.
Volkswagen, the German automaker, has told its car dealers that it plans to add an import fee later this month to the price of imported cars sold in the United States. The company’s move is one of the first and clearest examples of automakers using price increases to deal with the 25 percent tariffs President Trump imposed on car and …
Read More »Apple Leads Tech Stock Sell-Off After Trump Tariffs, Falling 9 Percent
On Thursday morning, Tim Cook, Apple’s chief executive, woke up to the worst day for his company’s stock in five years. Apple shares fell more than 9 percent in response to President Trump’s plan to put steep tariffs on products made abroad. The declines at the world’s most valuable company led a sharp sell-off in tech stocks as the Nasdaq …
Read More »FDA Layoffs Could Raise Drug Costs and Erode Food Safety
Health Secretary Robert F. Kennedy Jr. announced wide-ranging cutbacks at federal health agencies, including the Food and Drug Administration, that would eliminate duplicative services and paper pushers. But in interviews with more than a dozen current and former F.D.A. staff members, a different picture emerged of the far-reaching effects of the layoffs that would ultimately reduce the agency work force …
Read More »Ford Offers Discounts on Cars and Trucks as Auto Tariffs Kick In
Ford Motor said on Thursday that it was lowering prices on most of its vehicles to the same levels it charges employees in a bid to boost sales as President Trump’s tariffs on imported cars took effect. The tariffs began on Thursday on vehicles imported from Mexico, Canada, Japan, Germany and other countries. The duties — 25 percent of the …
Read More »Trump Says His Tariffs Will Address Unfair Global Trade. Is He Right?
President Trump has accused America’s trading partners of undermining the United States for decades, saying they have engaged in unfair trade practices to steal the country’s wealth and enrich their own economies. He has set his sights on not only adversaries like China, but also traditional allies like Canada and Europe. And he has complained about a number of factors, …
Read More »Trump Is Set to Unveil Expansive Global Tariffs
President Trump is set to unveil his most expansive tariffs to date on Wednesday afternoon, when he will detail potentially punishing levies on countries around the globe, including America’s largest trading partners. Mr. Trump has promised for months to impose what he calls “reciprocal” tariffs, which the president says will correct years of “unfair” trade in which other countries have …
Read More »More Americans Can’t Afford Medical Care, Poll Finds
It’s not just the high price of eggs or the rising cost of housing that is contributing to Americans’ unhappiness over the cost of living. Health care remains stubbornly unaffordable for millions of people, according to a new survey released Wednesday that underscores the struggle many people have in paying for a doctor’s visit or a prescription drug — even …
Read More »As Trump Stokes Uncertainty, the Fed Asks Businesses Where It Hurts
Chris Bergen, who runs a commercial greenhouse business in northern Minnesota, finds himself “walking a tightrope” roughly two months into President Trump’s second term. Acute uncertainty about how the administration’s trade and immigration policies will unfold and affect the economy has made him much more cautious about any expansion plans. As one of the country’s biggest producers of bedding plants, …
Read More »Trump’s Tariff Agenda Bets on Americans Giving Up Cheap Goods
President Trump’s sweeping tariffs are expected to raise the cost of cars, electronics, metals, lumber, pharmaceuticals and other products that American consumers and businesses buy from overseas. But Mr. Trump and his advisers are betting that it can sell an inflation-weary public on a provocative idea: Cheap stuff is not the American dream. “I couldn’t care less if they raise …
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