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Trump signs executive orders to boost US coal as power demand rises
WASHINGTON (Reuters) — US President Donald Trump signed executive orders on Tuesday that aim to boost coal production in his latest action that runs counter to global efforts to curb carbon emissions. Coal-burning plants generate less than 20 percent of US electricity, a drop from 50 percent in 2000, according to the Energy Information Administration, as fracking and other drilling techniques have hiked production of natural gas. Growth in solar and wind power has also cut coal use. "We're bring
April 9, 2025 -
Trump digs in on tariffs, says deals hinge on even trade balance
President Donald Trump said he was not intentionally fueling a market selloff but gave no indication he’s preparing to claw back the tariff barrage that has wiped trillions in value from US equities. Speaking to reporters aboard Air Force One after a weekend of golf in Florida, Trump said any deal to trim tariffs with affected nations must lead to the elimination of the US trade deficit. “I don’t want anything to go down, but sometimes you have to take medicine to fix something,” Trump said as U
April 7, 2025 -
Trump's tariffs unleash trade war and calls for negotiations
US President Donald Trump's big raise in tariffs has triggered an escalating trade war and sent global markets plummeting. The S&P 500 fell 6 percent Friday, the Dow Jones Industrial Average plunged 5.5 percent and the Nasdaq composite dropped 5.8 percent. China announced Friday that it will impose a 34 percent tax on all US imports next week, part of a flurry of retaliatory measures to Trump’s new tariffs. Trump has doubled down on his commitment to tariffs, maintaining that his new levies will
April 5, 2025 -
China to US: 'Market has spoken' after tariffs spur selloff
China said on Saturday "the market has spoken" in rejecting US President Donald Trump's tariffs, and called on Washington for "equal-footed consultation" after global markets plunged in reaction to the trade levies that drew Chinese retaliation. State-run Xinhua news agency also published the Chinese government's stance, saying the US should "stop using tariffs as a weapon to suppress China's economy and trade". Hong Kong Financial Secretary Paul Chan told public broadcaster RTHK, however, Hong
April 5, 2025 -
Recession fears engulf Wall Street on tariff retaliation
In every corner of the financial markets, from stocks to bonds to commodities, money managers are sending Donald Trump the same unmistakable message: The trade war he unleashed is threatening to set off a worldwide recession — and fast. After China retaliated against Trump’s tariff hikes, traders are pricing in what increasingly looks like a negative-feedback loop as Trump indicates he’s not going to back down. The grim signs continued to pile up on Friday, when even a significantly stronger-tha
April 5, 2025 -
JPMorgan: Trump’s tariffs to send US into recession
JPMorgan Chase & Co. said it expects the US economy to fall into a recession this year after accounting for the likely impact of tariffs announced this week by the Trump administration. “We now expect real GDP to contract under the weight of the tariffs, and for the full year (4Q/4Q) we now look for real GDP growth of -0.3 percent, down from 1.3 percent previously,” the bank’s chief US economist, Michael Feroli, said Friday in a note to clients, referring to gross domestic product. “The forecast
April 5, 2025 -
Trump says tariffs on semiconductors will start 'very soon'
US President Donald Trump said Thursday that tariffs on semiconductor imports will begin "very soon" in what would be an escalation of his trade fight expected to affect South Korea's chipmaking industry. Trump made the remarks during a press availability, a day after he announced a minimum 10 percent across-the-board "baseline" tariff on all imports and higher "reciprocal" tariffs, including 25 percent duties for South Korea. "The chips are starting very soon," he said according to a White Hous
April 4, 2025 -
Auto industry rocked by Trump's 25% tariffs on US imports
US automakers and their global rivals were rocked on Wednesday by President Donald Trump's announcement that he would impose 25% tariffs on all vehicles and foreign-made autoparts imported into the United States. General Motors shares slumped 8% in after-market trading. Shares in Ford and US-traded shares of Chrysler-parent Stellantis fell about 4.5 percent each. In Asia, shares in Toyota Motor, Honda Motor and Hyundai Motor all fell around 3 percent. Shares in Tesla, which makes all the cars so
March 27, 2025 -
Trump threatens 200% wine tariff if EU does not remove whiskey tariff
US President Donald Trump said on Thursday that he would put a 200 percent wine tariff on all wines and other alcoholic products coming out of the European Union if the bloc did not remove its tariff on whiskey. The European Commission said on Wednesday that it will impose counter tariffs on 26 billion euros ($28 billion) worth of US goods from next month, ramping up a global trade war in response to blanket US tariffs on steel and aluminum. The EU executive said, however, that it remained open
March 13, 2025 -
Apple says to invest $500b in US over four years, hire 20,000 staff
Apple said Monday it will spend more than $500 billion in the United States over the next four years and hire 20,000 staff, an announcement likely to please President Donald Trump who has pushed US companies to shift manufacturing home. "Apple today announced its largest-ever spend commitment, with plans to spend and invest more than $500 billion in the US over the next four years," the Silicon Valley-based tech giant said in a statement. Apple's CEO Tim Cook said: "We are bullish on the future
Feb. 24, 2025 -
Xi to chair symposium attended by Jack Ma and other Chinese business leaders, sources say
Chinese President Xi Jinping plans to chair a symposium to boost private sector sentiment next week that will be attended by the country's business leaders including Alibaba co-founder Jack Ma, three people with knowledge of the meeting said. Xi rarely chairs symposiums about the private sector and the event underscores the numerous challenges facing China Inc, from escalating tensions with the United States under President Donald Trump to sputtering growth for the domestic economy. Many of the
Feb. 14, 2025