The U.S. economy slowed less than expected in the third quarter as a tariff-related drop in soybean exports was partially offset by the strongest consumer spending in nearly four years, keeping growth on track to hit the Trump administration’s 3 percent target this year.
While Donald Trump was hosting a game show on NBC, then-President Barack Obama was saving the U.S. economy. Now he’s trying to claim credit for it.
The outlook for global growth in 2019 has dimmed for the first time, according to Reuters polls of economists who said the U.S.-China trade war and tightening financial conditions would trigger the next downturn.
The U.S. government closed the 2018 fiscal year $779 billion in the red, its highest deficit in six years, as Republican-led tax cuts pinched revenues and expenses rose on a growing national debt, according to data released on Monday by the Treasury Department.
South Carolina politicians, including Republican Senator Lindsey Graham, have defended the MOX plant, saying it was about 70 percent complete, would help keep plutonium out of the hands of militants, and provide up to 600 direct jobs.
Sears Holdings Corp is planning to close up to 150 of its department and discount stores and keep at least another 300 open as part of a plan to restructure under U.S. bankruptcy protection, people familiar with the matter said Friday.
Trump used to brag and take credit for the stock market daily, but the president has gone quiet as the market is dropping and his trade war is one of the reasons why.
ERIE, Pa. (Reuters) – U.S. President Donald Trump said Wednesday’s stock market selloff was in fact a long awaited “correction,” and that the Federal Reserve, which has been raising U.S. interest rates, has gone “crazy.” Trump‘s use of the word “correction” to describe the selloff could be significant. A stock market correction is defined as…
Steel and aluminum tariffs imposed by the Trump administration has cost Ford Motor Co about $1 billion, its chief executive officer said on Wednesday.
Walmart Inc said that it may hike prices of products if the Trump administration imposes a tariff on Chinese imports, according to a letter the company wrote to U.S. Trade Representative Robert Lighthizer two weeks ago and seen by Reuters on Thursday.
(Reuters) – Alibaba <BABA.N> Chairman Jack Ma said the company can no longer meet its promise to create 1 million jobs in the United States due to U.S.-China trade tensions, Chinese news agency Xinhua reported on Wednesday. Ma has already warned that the trade war between the world’s two largest economies could last decades and that…
NEW YORK (Reuters) – A top economic adviser to President Donald Trump said on Monday he expects U.S. budget deficits of about 4 percent to 5 percent of the country’s economic output for the next one to two years, adding that there would likely be an effort in 2019 to cut spending on entitlement programs….
By Stephen Culp NEW YORK (Reuters) – U.S. stock index futures extended losses in post-market trading late Monday after President Trump announced a new round of tariffs on about $200 billion worth of Chinese imports. Trump said he will impose 10 percent U.S. tariffs on about $200 billion worth of Chinese imports but he spared…
The production cuts come after the Trump administration’s escalating trade disputes cut off U.S. access to ethanol markets in China, contributing to a domestic supply glut that has pushed biofuel prices to near their lowest in over a decade.
President Donald Trump has instructed aides to proceed with tariffs on about $200 billion more of Chinese products, a source familiar with the process said on Friday, adding that the timing is not yet clear.
In the 220 counties that flipped from voting for Democratic candidate Barack Obama in 2012 to Republican candidate Donald Trump in 2016, the average worker earned about $46,000 in the 12 months through March, up 1.9 percent from a year earlier. That compared with a 2.6 percent increase to around $56,000 for the country as a whole, according to a Reuters analysis of Labor Department data.
Senate Democratic Leader Chuck Schumer (D-NY) and Sen. Martin Heinrich (D-NM) introduced legislation that would require the Trump administration to release wage growth data with quarterly GDP numbers.
By Roberta Rampton and Jeff Mason WASHINGTON (Reuters) – The United States and Mexico reached a deal on Monday to replace the North American Free Trade Agreement (NAFTA) and talks with Canada were expected to begin immediately in the hopes of reaching a final agreement by Friday, a senior U.S. trade official said. “We are…
If I had a dime for every time some pundit claimed Democrats didn’t have a platform or some try-hard, Kool Kid commenter claimed Leader Nancy Pelosi didn’t have a platform for the people, I’d be rich.
Because she does. It’s even titled…
FOR THE PEOPLE.
By Ginger Gibson WASHINGTON (Reuters) – President Donald Trump backed boycotting American motorcycle manufacturer Harley Davidson Inc on Sunday, the latest salvo in a dispute between the company and Trump over tariffs on steel. The Wisconsin-based motorcycle manufacturer announced a plan earlier this year to move production of motorcycles for the European Union from the…
The AP blasted President Trump for “pulling numbers out of thin air when it comes to the economy, jobs and the deficit†in a fact check.
China is slapping additional tariffs of 25 percent on $16 billion worth of U.S. imports from fuel and steel products to autos and medical equipment, the Chinese commerce ministry said, as the world’s largest economies escalated their trade dispute.
Mattress Firm Inc, the largest U.S. mattress retailer, is considering a potential bankruptcy filing as it seeks ways to get out of costly store leases and shut some of its 3,000 locations that are losing money, people familiar with the matter said.
Donald Trump and Republicans will try to slap their names all over the current economy, but they deserve zero credit for it.
The U.S. economy added a disappointing 157,000 jobs in July, and the unemployment rate fell to 3.9%. This is the slowest job growth in five years, as the numbers fell shot of expectations.
I’m not trying to talk down a strong economy, but facts still matter even if the president and his supporters don’t think they do.
Trump’s tariff on aluminum is projected to cost 20,000 Americans their jobs in beer-related industries and impose a beer tax each year.
Top Trump economic advisor Larry Kudlow admitted that there is no trade deal with the EU, only an agreement to agree on items that are still being discussed.
Trump is celebrating the GDP growth of 4.1%, but it isn’t such a great achievement when Obama’s economy had higher GDP growth in four separate quarters.
Republican Senator Bob Corker of Tennessee said “the Trump-Pence tariffs are hurting the American people” as they’re now “offering welfare to farmers to solve a problem they themselves created.”
Sen. Elizabeth Warren explained that Trump’s “booming economy” isn’t really booming because the Trump administration policies are making life worse for most Americans.
