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US Senate passes Trump's sweeping tax-and spending bill
WASHINGTON (Reuters) — US Senate Republicans passed President Donald Trump's massive tax-and-spending bill on Tuesday by the narrowest of margins, advancing a package that would slash taxes, reduce social safety net programs and boost military and immigration enforcement spending while adding $3.3 trillion to the national debt. The legislation now heads to the House of Representatives for possible final approval, though a handful of Republicans there have already voiced opposition to some of the
July 2, 2025 -
Over 14m could die from US foreign aid cuts: study
PARIS (AFP) — More than 14 million of the world's most vulnerable people, a third of them small children, could die because of the Trump administration's dismantling of US foreign aid, research projected Tuesday. The study in the prestigious Lancet journal was published as world and business leaders gather for a UN conference in Spain this week hoping to bolster the reeling aid sector. The US Agency for International Development had provided over 40 percent of global humanitarian funding until D
July 1, 2025 -
US, Canada to resume trade talks after Ottawa drops digital tax
WASHINGTON (Reuters) -- The United States will resume trade negotiations with Canada immediately after Ottawa scrapped its digital services tax targeting US technology firms, White House economic adviser Kevin Hassett said Monday. "Absolutely," Hassett said on Fox News Channel when asked about the talks restarting. White House press secretary Karoline Leavitt told reporters that Canadian Prime Minister Mark Carney called US President Donald Trump on Sunday evening to tell him the tax was being d
July 1, 2025 -
Trump says 'very wealthy' group to buy TikTok
WASHINGTON (AFP) -- President Donald Trump said Sunday a group of buyers had been found for TikTok, which faces a looming ban in the United States due to its China ties, adding that he could name the purchasers in two weeks. "We have a buyer for TikTok, by the way," Trump said in an interview on Fox's "Sunday Morning Futures" with Maria Bartiromo. "Very wealthy people. It's a group of wealthy people," the president said, without revealing more, except to say he would make their identities known
June 30, 2025 -
Trump ends trade talks with Canada over tax on tech firms
WASHINGTON (AP) -- President Donald Trump said Friday that he’s suspending trade talks with Canada over its plans to continue with its tax on technology firms, which he called “a direct and blatant attack on our country.” Trump, in a post on his social media network, said Canada had just informed the US that it was sticking to its plan to impose the digital services tax, which applies to Canadian and foreign businesses that engage with online users in Canada. The tax is set to go into effect thi
June 29, 2025 -
US Senators launch weekend of work to meet Trump's deadline for passing his tax and spending cuts
WASHINGTON (AP) — The Senate was taking a key procedural vote during a rare Saturday evening session as Republicans race to pass President Donald Trump's package of tax breaks, spending cuts and bolstered deportation funds by his July Fourth deadline. Republicans are using their majorities in Congress to push aside Democratic opposition, but they have run into a series of political and policy setbacks. Not all Republican lawmakers are on board with proposals to reduce spending on Medicaid, food
June 29, 2025 -
Powell repeats rate cuts can wait as Fed studies tariff impacts
WASHINGTON (AFP) -- US Federal Reserve Chair Jerome Powell told lawmakers Tuesday that the central bank can afford to wait for the impact of tariffs before deciding on further interest rate cuts -- despite President Donald Trump's calls to slash levels. The Fed has a duty to prevent a one-time spike in prices from becoming an "ongoing inflation problem," Powell said before the House Committee on Financial Services. "For the time being, we are well-positioned to wait to learn more about the likel
June 25, 2025 -
Tesla rolls out robotaxis in Texas test
AUSTIN, Texas (Reuters) -- Tesla deployed a small group of self-driving taxis picking up paying passengers on Sunday in Austin, Texas, with CEO Elon Musk announcing the "robotaxi launch" and social media influencers posting videos of their first rides. Musk called the moment the "culmination of a decade of hard work" in a post on his social media platform X and noted that "the AI chip and software teams were built from scratch within Tesla." Teslas were spotted early Sunday in a neighborhood cal
June 23, 2025 -
Nippon Steel's purchase of US Steel closes, with big role for Trump
Nippon Steel's $14.9 billion acquisition of US Steel closed Wednesday, the companies said, confirming an unusual degree of power for President Donald Trump after the Japanese company's 18-month struggle to close the purchase. Under the deal terms, Nippon bought 100 percent of US Steel shares at $55 per share, as it first laid out in its December 2023 offer for the well-known but struggling steelmaker. The companies also disclosed details of a national security agreement inked with the administra
June 19, 2025 -
Fed keeps rates unchanged in face of Trump criticism
WASHINGTON (AP) -- The Federal Reserve kept its key rate unchanged Wednesday as it waits for additional information on how tariffs and other potential disruptions will affect the economy this year. The Fed’s policymakers signaled they still expect to cut rates twice this year, even as they also project that President Donald Trump’s import duties will push inflation higher. They also expect growth to slow and unemployment to edge up, according to their latest quarterly projections released Wednes
June 19, 2025 -
Trump extends TikTok deadline for third time
WASHINGTON (AFP) — US President Donald Trump will this week give TikTok a fresh 90-day extension to find a non-Chinese buyer, the White House said Tuesday, the third time he has put off a threatened ban on the popular app. A federal law requiring TikTok's sale or ban on national security grounds was due to take effect the day before Trump's January inauguration. "President Trump will sign an additional Executive Order this week to keep TikTok up and running. As he has said many times, President
June 18, 2025 -
China's Xi signs treaty to elevate ties with Central Asia
BEIJING (Reuters) -- Chinese President Xi Jinping signed a treaty to elevate ties with Central Asian nations on Tuesday, as Beijing looks to further deepen cooperation on trade, energy and infrastructure with the resource-rich region. Since Russia's invasion of Ukraine, Beijing has been stepping up efforts to boost economic links with Central Asian nations traditionally within Russia's sphere of influence, drawn by their strategic location and energy resources. At a regional summit in the Kazakh
June 18, 2025 -
US, UK announce trade deal, but steel imports unresolved
KANANASKIS, Alberta (AP) — US President Donald Trump and British Prime Minister Keir Starmer said Monday that they had signed a trade deal that will slash tariffs on UK auto and aerospace industry imports — but they are still discussing how to handle steel production. The pair spoke to reporters at the Group of Seven summit in the Canadian Rockies, with Trump brandishing the pages of what he said was a long-awaited agreement. The rollout was anything but smooth, however, as Trump dropped the pap
June 17, 2025 -
France shuts Israeli weapons booths at Paris Air Show
LE BOURGET, France (AFP) — Geopolitical tensions roiled the opening of the Paris Air Show on Monday as French authorities sealed off Israeli weapons industry booths amid the conflicts in Iran and Gaza, a move that Israel condemned as "outrageous." The decision added drama to the major aerospace industry event, which was already under the shadow of last week's deadly crash of Air India's Boeing 787 Dreamliner. Black walls were installed around the stands of five Israeli defense firms at the trade
June 17, 2025 -
Bessent emerges as possible contender to succeed Fed's Powell
A growing chorus of advisers inside and outside the Trump administration are pushing another name to serve as the next chair of the Federal Reserve: Treasury Secretary Scott Bessent. US President Donald Trump said Friday he would name a successor “very soon” to replace Jerome Powell, whose term as Fed chair ends in May 2026. The small list of candidates under consideration has included Kevin Warsh, a former Fed official whom Trump interviewed for the Treasury secretary role in November, accordin
June 11, 2025