Economy

The First Casualties of the Trade War are Trump Supporters

For President Trump, all questions have simple answers: US “immigration laws are the weakest and worst anywhere in the world”, the Mueller …

Donald Trump

Dependent on trade, Mike Pence’s hometown takes a hit due to Trump’s tariffs

COLUMBUS, Ind. — One company and one family loom large over this city, intertwined for decades. Cummins Inc. is the biggest employer in Columbus, built into a $20 billon heavy equipment manufacturer with the help of Mike Pence, who as governor passed pro-business tax cuts and made trade visits to …

Politics

Analysts: Trump tariff threats unlikely to yield trade deals

WASHINGTON — With President Donald Trump intensifying his rift with U.S. trading partners, economists are growing more doubtful that any deal that …

Politics

Study: Austerity has left states behind by billions on education

Austerity has been the biggest impediment to the advancement of education on all levels in the United States, according to the latest data in a …

Education

Japan official urges caution over Trump's complaint on strong dollar

BUENOS AIRES (Reuters) - Japan should be careful about recent remarks by U.S. President Donald Trump on currencies and might need to convince Washington its monetary easing is not aimed at weakening the yen but beating deflation, a finance ministry official said on Saturday.<p>FILE PHOTO: Japan Yen …

Buenos Aires

Interactive: The Spread of Central Bank Currency Swaps Since the Financial Crisis

Over the past seven years, the swaps have been used by central banks to obtain foreign currency to boost reserves and to lend on to domestic banks …

Central Banks

Indonesian minister, businesspeople fly to US to begin trade mission amid war

The government will begin its trade mission to the United States on Monday to boost Indonesia's commerce with the world's largest economy amid the …

Indonesia

U.S. courts allies with free trade offers at G20, France resists

BUENOS AIRES (Reuters) - The United States sought to woo Europe and Japan with free trade deals on Saturday to gain leverage in an escalating tariff war with China but its overtures faced stiff resistance from France at a G20 finance ministers meeting dominated by trade tensions.<p>U.S. Treasury …

Buenos Aires

Mnuchin Says He ‘Wouldn’t Minimize’ Chance of Tariffs on All Chinese Imports

Treasury secretary, attending a meeting among G-20 finance ministers and central bankers in Latin America, adds, ‘if Europe believes in free trade, we’re ready to sign a free-trade agreement’<p>By<p>Jeffrey T. Lewis<p>Jeffrey T. Lewis<p>The Wall Street Journal<p>Biography<p>jeffrey.lewis@wsj.com<p>BUENOS AIRES—U.S. …

Donald Trump

Treasury Secretary Mnuchin says Trump 'supports' the Fed's independence

<b>Buenos Aires, Argentina (CNN) —</b> Treasury Secretary Steven Mnuchin tried to soothe fears President Donald Trump is trying to sway the Federal Reserve's plans to raise interest rates this year.<p>"The administration completely supports the Fed's independence," Mnuchin told reporters Saturday at the …

Donald Trump

The Trade War And Retail: Is Your Holiday Season At Risk?

It may be July, but many retailers’ and brands’ heads are focused on the holiday season. That’s not surprising. What is surprising is that one of their key areas for concern this year is new and different: tariffs. This wasn’t planned for when they were designing and pricing the products that …

Tariffs

Mnuchin 'very hopeful' on trade talks with EU, Japan

<b>(CNN) —</b> Treasury Secretary Steven Mnuchin is "very hopeful" the US can make progress brokering separate free trade deals with the European Union and Japan during a weekend summit in Buenos Aires.<p>"I'm encouraged by the EU's trade agreement with Japan," Mnuchin said Saturday in an interview with CNN …

Foreign Policy

US debt 'double whammy' unsettles emerging markets

Writing in the Financial Times in June, India’s central bank governor Urjit Patel complained of the destabilizing effects of a U.S. debt “double …

Budget Deficit

Stock market continues to ignore threats from trade war

A recent survey by Bank of America Merrill Lynch found that more than 80% of professional fund managers say that a trade war is their biggest concern, yet you wouldn't notice it by the performance of the U.S. equity markets. The S&P 500 index is trading near its all-time high levels set in January, …

Stock Markets

White House figures show Trump on pace to equal Obama deficits

View Caption Hide Caption<p>Despite clear signs of expanded economic growth, the latest White House budget estimates predict that President Donald Trump …

Donald Trump

Bond Market Week In Review For The Week Of July 16-20

Summary<p>Powell gave the semi-annual testimony to Congress.<p>Employment is strong, and prices are near the Fed's 2% target.<p>This week, Chairman Powell …

Price Index

Union at Chile's Escondida mine sees little hope for contract deal

SANTIAGO (Reuters) - Labor negotiations at Chile’s Escondida copper mine, the world’s largest, are frozen without signs of progress toward an agreement just over a week before the current contract expires, the union said in an internal message to its members.<p>The union said mine owner BHP rejected …

Chile

Egypt hikes natural gas prices by up to 75 percent

Egypt has raised natural gas prices for households and businesses by between 33.3 and 75 percent.<p>Saturday's decision, published in the official gazette, should come into effect starting August.<p>Gas consumption of up to 30 cubic meters was raised by 75 percent, 30-60 cubic meter gas consumption by …

Natural Gas

Trade war could reduce global growth: IMF

The International Monetary Fund has warned that the growing trade war between the US, China and the European Union could significantly harm the …

Tariffs

Global Growth Less Synchronized, More Uncertain, G-20 Draft Says

Global economic growth is less synchronized and faces increasing threats, including from trade tensions, according to a draft statement from the …

Globalization

World Economic Leaders Condemn President Trump's Twitter Trade Rants at G-20 Summit

(Bloomberg) — Global economic leaders are pushing back against U.S. President Donald Trump’s latest rants on global trade and currencies, speaking …

Donald Trump

WATCH: CNN analyst lists facts about Trump’s ‘tremendous’ economy, corners host with this question

Economist Stephen Moore made it clear on CNN Friday that the economy is booming under President Donald Trump and its his leadership Americans have to thank for record unemployment and surging wages.<p>Moore’s comments came after Trump criticized the Federal Reserve for continuing to increase interest …

Donald Trump

Trump and the U.S. dollar: Actions speak louder than words

NEW YORK (Reuters) - U.S. President Donald Trump may not be happy about the strength of the U.S. dollar, but the greenback's recent rally may partly be a product of his own making.<p>The U.S. dollar has been climbing against major currencies for several months, with the dollar index up nearly 7.0 …

Interest Rates

Trump Lines Up Fed Chairman as Fall Guy If Tax, Trade Moves Sour

President Donald Trump looks to be lining up Federal Reserve Chairman Jerome Powell to be the fall guy if the president’s trade and tax policies …

Donald Trump

Trump's auto tariffs will cost consumers $83 billion, insiders tell Commerce in hearing

President Donald Trump's threat to impose punitive tariffs on imported vehicles and auto parts will cost American consumers $83 billion, warned representatives from the auto industry at a Congressional hearing.<p>"Higher auto tariffs will harm American families and workers, along with the economy," …

Auto Tariffs

Currency War Erupts, Threatening to Ripple Across Global Markets

The currency war has arrived.<p>So say some of the best and brightest in the $5.1 trillion-per-day foreign-exchange market. U.S. President Donald Trump …

Business

Trump not trying to intervene in currency markets: Mnuchin

<i>0</i><p>Recent Alerts<p>Sign up to create alerts for Instruments, Economic Events and content by followed authors<p>Free Sign Up<p>Already have an account? Sign …

Donald Trump

Six ways China could retaliate in a trade war

<b>The US is threatening to escalate its trade war with China.</b><p>It imposed tariffs on $34bn of Chinese goods on 6 July and only days later listed another $200bn of additional products it intends to target.<p>US President Donald Trump has said more than $500bn worth could be hit - almost the entire value of …

China

Chinese leader arrives for Africa visit as US interest wanes

Chinese President Xi Jinping is arriving in Africa on a four-nation visit seeking deeper military and economic ties while his rival in a bitter trade war, the Trump administration, shows little interest in the continent.<p>This is Xi's first trip abroad since he was appointed to a second term in March …

South Africa

Trump's new midterm threat: A trade war smacking voters

Market analysts, industry experts and economists warn the economic fallout of the president’s tariffs could peak around election time.<p>President Donald Trump’s trade wars could become a major political drag for Republicans, with job losses and price increases piling up just as voters head to the …

U.S. Politics