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Trump says he’s not backing down on tariffs, calls them ‘medicine’ as markets reel

Trump says he’s not backing down on tariffs, calls them ‘medicine’ as markets reel

Apr 7, 2025 | 12:14am
WEST PALM BEACH, Fla. (AP) — President Donald Trump says he won’t back down on his sweeping tariffs on imports from most of the world unless countries even out their trade with the U.S. He’s digging in on his plans to implement the taxes that have sent financial markets reeling, raised fears of a recession and upended the global trading system. Speaking to reporters Sunday aboard Air Force One, Trump said he didn’t want global markets to fall, but also that he wasn’t concerned about the massive sell-off either, adding, “sometimes you have to take medicine to fix something.” His comments came after Trump’s aides sought to soothe market concerns by saying more than 50 nations had reached out about launching negotiations to lift the tariffs.
Trump announces sweeping new tariffs to promote US manufacturing, risking inflation and trade wars

Trump announces sweeping new tariffs to promote US manufacturing, risking inflation and trade wars

Apr 2, 2025 | 5:42pm
WASHINGTON (AP) — President Donald Trump is imposing a 10% baseline tax on imports from all countries and even higher tariff rates on dozens of nations that run trade surpluses with the United States. It threatens to upend much of the architecture of the global economy and trigger broader trade wars. Trump is declaring a national economic emergency to launch the tariffs, which are expected to produce hundreds of billions in annual revenues. He has promised that factory jobs will return back to the United States as a result of the taxes, but his policies risk a sudden economic slowdown as consumers and businesses could face sharp price hikes on autos, clothes and other goods.
Stock market today: More swerves hit Wall Street as Trump’s “Liberation Day” nears

Stock market today: More swerves hit Wall Street as Trump’s “Liberation Day” nears

Apr 1, 2025 | 4:29pm
NEW YORK (AP) — U.S. stocks swerved through another shaky day of trading, with uncertainty still high about just what President Donald Trump will announce about tariffs on his “Liberation Day.” The S&P 500 rose 0.4% Tuesday after roaring back from an early drop of 1%. The Dow Jones Industrial Average edged down by less than 0.1% after likewise pinging between gains and losses, while the Nasdaq composite added 0.9%. Treasury yields dropped in the bond market after a report said U.S. manufacturing contracted last month. Markets have been shaky in the run-up to Wednesday, when Trump will announce a sweeping set of tariffs.
Trump agrees to pause tariffs on Mexico, but import taxes still in place for Canada and China

Trump agrees to pause tariffs on Mexico, but import taxes still in place for Canada and China

Feb 3, 2025 | 11:09am
WASHINGTON (AP) — Mexican President Claudia Sheinbaum said Monday that after a conversation with U.S. President Donald Trump that the planned tariffs are on hold for a month, a statement confirmed by the White House. Sheinbaum says on X, “Mexico will reinforce the northern border with 10,000 members of the National Guard immediately, to stop drug trafficking from Mexico to the United States, in particular fentanyl.” She says the U.S. committed to stopping high powered weapons from reaching Mexico. The pause added to the drama as Trump’s tariffs against Canada and China are still slated to go into effect on Tuesday.
Farming and wildfire tech is on display at CES as companies showcase their green innovations and initiatives

Farming and wildfire tech is on display at CES as companies showcase their green innovations and initiatives

Jan 9, 2025 | 10:23am
LAS VEGAS (AP) — Sustainability is a key theme this year at the annual CES tech trade show in Las Vegas. Agriculture tech is on full display on the show floor while companies big and small also showcase their green innovations and initiatives. That includes Volvo CEO Martin Lundstedt’s vow to reach net-zero emissions by 2040 and Wisconsin-based OshKosh Corporation’s electric fire engines and garbage trucks. John Deere also unveiled a fleet of fully autonomous equipment like tractors that are already in use on some farms and orchards. Some experts say AI is key to the industry’s future as climate change makes farming more unpredictable.
Government funding bill clears Congress and heads to President Biden, averting a shutdown

Government funding bill clears Congress and heads to President Biden, averting a shutdown

Dec 21, 2024 | 2:24am
WASHINGTON (AP) — The Senate has rushed through final passage of a bipartisan plan to fund federal operations and prevent a government shutdown. It now goes to President Joe Biden, who is expected to quickly sign it into law. The House passed the package late Friday in an overwhelming vote. Senate Majority Leader Chuck Schumer pushed into the night to finish early Saturday, just after the midnight deadline. The bill would temporarily fund federal operations and disaster aid, but drops President-elect Donald Trump’s demands for a debt limit increase into the new year. Speaker Mike Johnson had insisted Congress would “meet our obligations” and not allow federal operations to shutter ahead of the Christmas holiday season. He also said Trump is happy with the outcome.