Tag Archives: United States Economy

Treasury Secretary Scott Bessent on Wednesday called for major overhauls to the missions of the International Monetary Fund and the World Bank but said that the United States remained committed to maintaining its leadership role at the global economic institutions. The comments, made at a speech on the sidelines of the spring meetings of the I.M.F. and the World Bank, …

When Donald J. Trump championed the idea of a 10 percent blanket tariff during the campaign, many people, whether for or against, were taken aback by how radical the idea was. Alarms sounded about higher inflation, lost jobs, slower growth or recession. The prospect seemed so outlandish that most economists and Wall Street analysts who gamed out the possibilities tended …

President Trump’s decision to move a step closer to imposing tariffs on imported medicines poses considerable political risk, because Americans could face higher prices and more shortages of critical drugs. The Trump administration filed a federal notice on Monday saying that it had begun an investigation into whether imports of medicines and pharmaceutical ingredients threaten America’s national security, an effort …

The traditional gathering of former Treasury secretaries to welcome a newly minted one into the fold is usually a lighthearted and pleasant affair. But when the group convened this month, on President Trump’s “Liberation Day,” the tone was strikingly serious. The dinner, organized by former Treasury Secretary Steven T. Mnuchin, took place at a moment of tumult for the U.S. …

Federal Reserve officials have had one clear message since President Trump sharply escalated the global trade war this month. Keeping inflation expectations in check as price pressures rise is their No. 1 priority. On Friday, they faced a big setback. A new survey released by the University of Michigan found that as consumer sentiment took another nosedive because of fears …

The bedrock of the financial system trembled on Friday, with government bond yields rising sharply as the chaotic rollout of tariffs shook investors’ faith in the pivotal role played by the United States in the financial system. U.S. government bonds, known as Treasuries because they are issued by the U.S. Treasury, are backed by the full faith of the American …

When Congress voted to normalize trade relations with China at the beginning of this century, U.S. manufacturers braced for a stream of cheap goods to begin flowing into U.S. ports. Instead, they got a flood. Imports from China nearly tripled from 1999 to 2005, and American factories, with their higher wages and stricter safety standards, couldn’t compete. The “China shock,” …

On the open 15th floor of a loft building in Midtown Manhattan, about a dozen skilled workers make their way through piles of pants, stitching each piece together with focus and precision. Some of the items are designed by Outlier, a fashion brand that produces its smaller runs and experimental products with the garment district’s ecosystem of contract manufacturers. It’s …

President Trump’s whipsawing tariff policy has prompted bipartisan alarm on Capitol Hill, where Democrats are outraged and Republicans are caught between their deep opposition to tariffs and fear of criticizing Mr. Trump. The president’s abrupt announcement on Wednesday that he would halt most of his reciprocal tariffs for 90 days just a week after announcing them allayed the immediate concerns …

For the past week, President Trump has been urging calm in the face of the financial chaos that he created and resisting calls for him to rethink his approach. “I know what the hell I’m doing,” he told Republicans on Tuesday as the massive tariffs he had imposed sent global markets into a tailspin. “BE COOL!” he said in a …