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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.
Plastics are seeping into farm fields, food and eventually human bodies. Can they be stopped?

Plastics are seeping into farm fields, food and eventually human bodies. Can they be stopped?

Mar 30, 2025 | 12:49pm
KAMPALA, Uganda (AP) — Around the world, plastics are finding their way into farm fields. Some farmers say agricultural plastic, already a necessity for many crops, is becoming even more necessary as climate change fuels extreme weather. And plastics from other industries end up in fields, too, and eventually the food grown there as well as waterways. Scientists, farmers and consumers all worry about how the plastics that enter the food supply affect health, and research is continuing to show that it’s ending up in human bodies. Researchers are looking for solutions, but industry experts say despite attempts to tackle the plastic problem, it’s difficult to know where plastic ends up or get rid of it completely, even with the best intentions of improving reuse and recycling programs.
Trump signs a bill funding the government for 6 months, avoiding a shutdown

Trump signs a bill funding the government for 6 months, avoiding a shutdown

Mar 15, 2025 | 2:16pm
WASHINGTON (AP) — President Donald Trump has signed into law legislation funding the government through the end of September. His signature Saturday ends the threat of a partial government shutdown and caps off a struggle in Congress that deeply divided Democrats. The bill largely keeps government funding at levels set during Joe Biden’s presidency, though with changes. It trims non-defense spending by about $13 billion from the previous year and increases defense spending by about $6 billion. The Senate cleared the legislation on Friday in a 54-46 party line vote, with Democrats helping advance it despite problems with the bill.
Trump threatens retaliatory 200% tariff on European wine after EU proposes American whiskey tax

Trump threatens retaliatory 200% tariff on European wine after EU proposes American whiskey tax

Mar 13, 2025 | 1:01pm
WASHINGTON (AP) — American retailers say President Donald Trump’s threatened 200% tariff on European wine would harm consumers. Holly Seidewand owns First Fill Spirits in New York state and says a tariff war hurts importers, distributors and retailers but “consumers will bear the brunt of it.” Ronnie Sanders is CEO of Vine Street Imports in New Jersey and says customers aren’t prepared to pay two or three times more for their favorite wine. Trump on Thursday called the EU among “the most hostile and abusive taxing and tariffing authorities.” Because of the Republican president’s threat, a previously untariffed $15 bottle of Italian Prosecco could cost $45. The European Commission says Europe wants to “negotiate to avoid tariffs.”
Trump says 25% tariffs on Mexican and Canadian imports will start Tuesday, with ‘no room’ for delay

Trump says 25% tariffs on Mexican and Canadian imports will start Tuesday, with ‘no room’ for delay

Mar 3, 2025 | 4:09pm
WASHINGTON (AP) — President Donald Trump says 25% tariffs on imports from Mexico and Canada will start Tuesday, sparking renewed fears of a North American trade war. He announced the coming tariffs at the White House on Monday. He says the tariffs are to force the two U.S. neighbors to step up their fight against fentanyl trafficking into the U.S. Trump provided a one-month delay in February as both countries promised concessions. But Trump said Monday that there was “no room left for Mexico or for Canada” to avoid the steep new tariffs. U.S. stock markets moved sharply lower after Trump’s comments. Trump said he would also add on another 10% tariff on goods from China, on top of the initial 10% he put in place last month.
Egg prices could jump another 41% this year, USDA says, as Trump’s bird flu plan unveiled

Egg prices could jump another 41% this year, USDA says, as Trump’s bird flu plan unveiled

Feb 26, 2025 | 2:53pm
WASHINGTON (AP) — The Trump administration believes a renewed emphasis on biosecurity can help in the battle against bird flu and ease egg prices, but the Agriculture Department predicts the current record prices are going to get much worse this year. It’s also not clear how much more farmers can do to keep the virus out. Agriculture Secretary Brooke Rollins offered the first new details about her bird flu plan Wednesday. But USDA predicted this week that egg prices will soar more than 41 percent this year on top of the record average price of $4.95 per dozen.
As egg prices soar, Trump administration plans new strategy to fight bird flu

As egg prices soar, Trump administration plans new strategy to fight bird flu

Feb 18, 2025 | 5:42pm
MINNEAPOLIS (AP) — With egg prices soaring, the Trump administration is planning a new strategy for fighting bird flu that stresses vaccinations and tighter biosecurity instead of killing off millions of chickens when the disease strikes a flock. The director of the National Economic Council said on CBS’ “Face the Nation” that officials are moving away from the standard practice of destroying all the birds on a farm when an infection is detected. The culling of millions of chickens per month has caused egg prices to skyrocket. Some retailers are rationing sales. The official, Kevin Hassett, says the administration plans to announce further details this week.
Trump signs a plan for reciprocal tariffs on US trading partners, ushering in economic uncertainty

Trump signs a plan for reciprocal tariffs on US trading partners, ushering in economic uncertainty

Feb 13, 2025 | 10:22pm
WASHINGTON (AP) — President Donald Trump has rolled out his plan to increase U.S. tariffs to match the tax rates that other countries charge on imports. The Republican is possibly triggering a broader economic confrontation with allies and rivals alike as he hopes to eliminate any trade imbalances. Trump said Thursday: “I’ve decided for purposes of fairness that I will charge a reciprocal tariff.’ The prospect of a dramatic hike on tariffs could send shockwaves through the world economy, possibly depressing growth while also causing inflation to intensify. Most economists say the tariffs would effectively be a tax increase on U.S. consumers. Trump says he’s decided “for purposes of fairness” that he’ll charge reciprocal tariffs.