Commerce Secretary Howard Lutnick has been putting the squeeze on companies and trading partners in an unusual effort to raise revenue and expand the president’s role over the economy.
As pandemic subsidies disappeared, wages kept workers just ahead of inflation, although gaps have widened for some groups.
An influx of immigrants helped ease worker shortages, and now their expulsion is helping to mask the country’s weakening demand for labor.
After a bad employment report in August, President Trump fired the official in charge of the numbers. This month’s data was just as disappointing.
Trade rebounded slightly after President Trump’s sweeping global tariffs discouraged foreign countries from doing business with the United States, data released Thursday showed.
The president and his advisers have suggested they will fight a federal appeals court’s ruling that found many of the administration’s tariffs to be illegal.
World Liberty Financial’s cryptocurrency token fell short of investors’ hopes. But a previous deal paved the way for a payment to the Trump family of potentially hundreds of millions of dollars.
The decision is a big blow to President Trump’s trade policies, but the judges left the duties in place for now to allow time for a likely appeal to the Supreme Court.
President Trump’s attempt to fire Lisa Cook has laid bare the erosion of the Federal Reserve’s independence, which could lead to economic consequences for Americans, The New York Times’s chief economics correspondent explains.
The president’s steep tariffs and erratic moves have turned manufacturing abroad into a minefield, even for entrepreneurs who set up in countries viewed as safe alternatives to China.
Leaders in Britain and the European Union are promoting the promise of economic benefits from increased military spending, but there is a trade-off.
The trillions of dollars that tech companies are pouring into new data centers are starting to show up in economic growth. For now, at least.
Ms. Cook said that she would not resign from the board of governors, hours after President Trump announced he was firing her.
The tariffs would hamper a clean energy industry that the president has often railed against.
Under the newly fleshed-out details, Washington will maintain high tariffs on vehicles imported from the bloc until the E.U. takes steps to lower its levies on many American products.
Inflation is up and job creation down, but the U.S. economy could still pull through without too much pain.
Simply giving money to poor families at certain times reduced deaths among young children by nearly half, a new study found.
China is shipping more goods to Southeast Asia and other regions that often re-export them to the United States. China still sells three times as much to the United States as it buys.
Thailand, Vietnam and other countries in the region face much higher tariffs on exports with Chinese-made components. But questions remain on how the U.S. defines a locally made product.
Britain’s economy is driven by domestic factors more than global ones right now, the governor of the Bank of England said on Thursday, when the central bank cut interest rates.
The president has crowed about the billions of dollars collected so far from tariffs. That money could be at risk if the White House loses the legal battle.
Goods shipped from the country face a 39 percent tariff in the U.S., which companies warn will have dire consequences if President Trump cannot be quickly dissuaded.
Large firms with big bank balances, workers already in jobs and households near the top of the income ladder will have an easier time navigating the economic waves.
President Trump fired the Bureau of Labor Statistics chief earlier this month after a downbeat jobs report. The move has raised concerns about the credibility of economic data going forward.
President Trump has yet to formally sign off on an agreement to extend an economic cease-fire with China, which expires on Tuesday.
Some safe-haven assets have soared against the U.S. dollar.
The Trump administration levied a hefty tariff on goods that are moved through other countries, but it has not yet fully explained its plans.
Billy Long, a former Republican congressman, will no longer serve as the tax agency’s head. Treasury Secretary Scott Bessent will oversee the agency as acting commissioner.
But automakers can’t absorb the cost forever and will soon begin to raise new car prices, analysts say.
The European Union struck a trade deal that protected political priorities, like chicken and beef standards, while allowing headline-grabbing concessions. Consider lobsters.
Stephen I. Miran may spend only a few months on the central bank’s board of governors, but in that time he can influence the discussions around interest rates and who will become the institution’s next leader.
The S&P 500 ended the day 0.1 percent lower, a muted move compared to the upheaval when tariffs were first announced in early April.
The tariffs are driving up prices on everyday goods as businesses warn they can no longer absorb costs, leaving consumers to foot the bill.
The duties, which the president announced last week, took effect for about 90 countries just after midnight.
Tariffs on Indian exports to the United States will surge to 50 percent by late August, as part of an effort by President Trump to pressure Russia into resolving its war in Ukraine.
Russian oil poses just one problem. Business groups are flummoxed by the variety and vagueness of the American president’s complaints.
Imports from other countries fell around 4 percent from the previous month as President Trump’s steep tariffs discouraged businesses from ordering goods.
President Trump has long wanted to rework world trade. The tariffs set to go into effect next week will carry out that plan.
President Trump is using an “Art of the Deal” approach to get other nations to hand over cash to lower their tariffs.
Data showing cracks in the U.S. labor market and President Trump’s newest barrage of tariffs shook investors around the world, weighing on stocks, the dollar and more.
The resignation comes as President Trump has openly pressured the central bank to lower interest rates and called for Jerome H. Powell, the chair, to step down.
Data showing cracks in the U.S. labor market and President Trump’s newest barrage of tariffs shook investors around the world, weighing on stocks, the dollar and more.
The president has pitched his trade policies at workers who feel left behind by globalization. But that doesn’t mean trade barriers will revive factories and close income gaps.
Economists said ousting the head of the Bureau of Labor Statistics could undermine confidence in government economic data.
The latest round of tariffs is likely to make agricultural production even more expensive and, potentially, limit access to goods not produced in the United States.
The agreement comes after other American allies, like Japan, clinched their own deals, partly to moderate President Trump’s tariff threats.
U.S. trading partners are committing to buy more gas than they need or than the U.S. can produce, at least in the short term.
The president’s vision for reshaping global trade is falling into place, but he is embarking on an experiment that economists say could still produce damaging results.
The International Monetary Fund warned that trade tension continued to be a risk for the global economy.
President Trump is seeking to raise federal revenue by imposing levies on goods from foreign nations. Here’s how the process works.
The administration provided some insight into the terms that were agreed upon between Indonesia and the United States, hinting at how other vague and hastily negotiated deals may turn out.
President Trump will get to decide where to invest Japanese money and the United States will keep 90 percent of the profits, the White House said.
The administration has repeatedly criticized Jerome H. Powell, the chair of the central bank, for his handling of the economy and the cost of renovations at the institution’s headquarters.
The president imposed tariffs on Japan, one of America’s closest allies, that would have been alarming just months ago. And markets went up.
President Trump and his top aides have criticized Jerome H. Powell, the Fed chair, for his management of both the economy and a $2.5 billion revamp of the central bank’s headquarters.
President Trump has placed a 20 percent tariff on goods imported from the country, effective Aug. 1.
The Trump administration has dialed back aggressive measures against China and reversed its position on technology controls as the president angles for a Chinese trip later this year.
Ken Kies, a longtime tax lobbyist who worked for some of the world’s largest businesses, is now running the Treasury Department’s office that will administer Trump’s tax law.
President Trump said the agreement would partly walk back some of the steep tariffs he threatened on the country last week. Indonesia’s president called Mr. Trump a “tough negotiator.”
New data showing price increases last month could foreshadow even higher costs if the president imposes steep tariffs on Aug. 1.
The president has earned a reputation for bluffing on tariffs. But he has steadily and dramatically raised U.S. tariffs, transforming global trade.
The Trump administration is adding a 17 percent tariff to a year-round grocery store staple, while funneling more business to domestic tomato growers, largely in Florida.
The economy’s resilience so far to President Trump’s global trade war risks emboldening him and unleashing the sort of economic devastation that economists have long feared.
Most nations are still negotiating in hopes of avoiding punitive import taxes. At the same time, they’re looking for trading partners as a way around the United States.
The president’s supporters portray him as a top dealmaker. But, at least for now, far more trading partners have gotten stiff tariffs than trade deals.
Many countries thought they were negotiating in good faith. The White House renewed its “reciprocal” tariff plan anyway, giving countries until Aug. 1 to make offers.
Blunt letters dictating terms posted to social media and changes late in negotiations have left trading partners wondering what President Trump will do next.
President Trump has achieved much of his agenda, leaving the fate of the economy squarely in his hands.
The fertile valley feeds the world. President Trump has thrown farmers and farmworkers there into turmoil, but recently offered them a glimmer of hope.
The president’s tariff announcements suggest he has not backed away from his initial strategy, where even smaller trading partners will face tariffs.
Instead of viewing tariffs as part of a broader trade policy, President Trump sees them as a valuable weapon he can wield on the world stage.
The president is deploying the word “deal” liberally, using the term to describe all kinds of trade arrangements, some very limited or one-sided.
A small company in northern Mexico had faced steep competition from China in making straps, plugs, fasteners, grommets, zip ties and clamps. Now, U.S. tariffs have driven a spike in his business.
President Trump said Japan and South Korea would face tariffs of 25 percent unless they reached an agreement with the United States. Other countries received notice of higher levies.
The president is again threatening higher tariff rates on a dozen foreign nations, as a deadline elapses this week for making trade deals.
But the Treasury secretary also said that some countries working toward agreements with the United States could have until Aug. 1.
Indonesia’s president promised free meals for every student in the country. But unemployment is rising, and some analysts say he’s making matters worse.
The president said he had agreed to initial trade terms with Vietnam, the second country to strike a limited deal after Mr. Trump threatened steep tariffs.
Among the most expensive pieces of legislation in years, the Republican bill could reshape the country’s finances for a generation.
With developing nations crushed by unaffordable borrowing and Washington on the sidelines, some leaders are brokering debt forgiveness deals.
The Treasury secretary said negotiations with some countries might last until Labor Day, signaling that the White House may hold back from imposing tariffs on some trading partners in early July.
President Trump has sought to claw back funds for public broadcasting and foreign aid, sparking a fierce debate over the power of the purse.
President Trump, aware of how high gas prices could affect his popularity, demanded on social media that the U.S. “KEEP OIL PRICES DOWN.”
The nation’s largest ports, in Los Angeles County, are a bellwether for the economy. They are being whipsawed as President Trump reorders global trade.
The annual economic forum in St. Petersburg used to yield multibillion-dollar deals and feature performances by global music stars. With the war in Ukraine still raging, the mood has shifted.
Two toy manufacturers asked the court to greatly expedite their case, in an unusual request.
The updated findings from the Congressional Budget Office amounted to the latest dour report card for the president’s signature legislation.
The central bank is set to hold interest rates steady for its fourth straight meeting, a pause that could be extended through the summer.
Administration officials secured a deal that will give the president unusual influence over a private company, and could serve as a model for other deals.
In 2018, the president called for the group to embrace Russia and stormed out of the summit. Now he is seeking to shrink America’s military role abroad and embarking on a more expansive trade war.
Are predictions for a jump in consumer prices too early, or just wrong?
The move is one of the first times this year that consumer products were specifically targeted with higher import taxes.
Unions have backed immigrant rights in California and have been on the forefront of resisting the Trump administration’s deportations.
Ursula von der Leyen, president of the European Commission, announced a proposal meant to ramp up pressure on Moscow.
The appeals court’s decision delivered an important but interim victory for the Trump administration.
Officials from the world’s largest economies will try to strike a deal Tuesday to relax painful export restrictions that they have imposed on each other.
There’s an undercurrent of Democratic support for elements of President Trump’s tax agenda, a dynamic that Republicans are trying to exploit as they make the case for enactment of their sprawling domestic legislation.
The dueling narratives come as the administration is asking an appeals court to preserve a set of tariffs recently deemed to be illegal.
Economic growth will slow this year and next as the trade war hampers development in the United States and around the world, the Organization for Economic Cooperation and Development said.
The drastic, sudden pullback in federal dollars is collapsing opportunities for many who’ve spent years in public service.
Top American economic officials will meet with their Chinese counterparts next Monday in hopes of breaking a trade stalemate, President Trump said.
Policymakers and business owners are navigating a highly uncertain moment for the economy, wary of overreacting but watchful of a meaningful downturn.
She was the first woman to serve on the White House Council of Economic Advisers. At General Motors, she became one of the highest-ranking women in corporate America.
U.S. trade fell sharply as President Trump’s global tariffs began to weigh on imports.
Home builders, car manufacturers and can makers are among those that will see higher prices for materials. Those companies could charge customers more.
The president has ratcheted up the rate on foreign metals to 50 percent, double the previous rate, saying the levies weren’t high enough to help the U.S. industry.
Instead of battling over tariffs, Washington and Beijing have turned to a potentially far more harmful strategy: flexing their control over global supply chains.
The president is set to raise tariffs on steel and aluminum this week, even as the courts are challenging the legitimacy of other levies.
Jerome H. Powell stressed in his first meeting since the president returned to the White House that policy decisions would be “based solely on careful, objective and nonpolitical analysis.”
Companies welcomed a court decision striking down President Trump’s tariffs. Then a stay of that ruling left no one breathing easy.
The new blueprint shows that a vast array of education, health, housing and labor programs would be hit, including aid for college and cancer research.
President Trump said that Beijing was not honoring the terms of a temporary agreement and warned of further confrontation.
Made quickly and with minimal fuss, a park for skateboarders revived a downtown site — and offered a few lessons for urban revitalization.
Trump administration officials are getting a second chance to try to sever ties with China by starting a trade war, imposing export controls and revoking student visas.
President Trump has stopped some critical products and technologies made only in the United States from flowing to China, flexing the government’s power over global supply chains.
President Trump’s steep global tariffs have supercharged efforts to evade them. Some U.S. companies say the government is ill equipped to keep up.
President Trump and members of Congress want to revive U.S. shipbuilding with subsidies and penalties against Chinese-built ships. But there are obstacles.
The president’s economic policy approach is so far rattling markets, businesses and consumers.
At the Small Business Administration, deep staffing cuts and stricter loan terms are making it harder for entrepreneurs to get access to capital, contracts and technical assistance.
The New York Times is looking to talk to business owners and employees who have seen evidence of tariff dodging or customs fraud.
Treasury Secretary Scott Bessent will meet his international counterparts at a G7 finance ministers meeting in Canada.
The president recently attacked Walmart, saying it should “eat” the costs rather than pass them on to customers.
Big deals to sell chips to the U.A.E. and Saudi Arabia have divided the U.S. government over whether they could be remembered for shipping cutting-edge A.I. overseas.
The Trump administration is considering a deal that could send hundreds of thousands of U.S.-designed artificial intelligence chips to G42, an Emirati A.I. firm that the U.S. government has scrutinized in the past for its ties to China, three people familiar with the discussions said. The negotiations, which are ongoing, highlight a major shift in…
As cremation rates rise and consumer preferences shift, funeral homes are innovating in surprisingly unconventional ways so they don’t die out.
The temporary lowering of tariffs may compel some U.S. businesses to order goods that they had held off buying after President Trump raised them to 145 percent.
As President Trump guts American research institutions, world leaders see a “once-in-a-century brain gain opportunity.”
The chief executive of Carvana, which sells used cars online, said President Trump’s tariffs could help his company by increasing demand for its vehicles.
President Trump’s triple-digit tariffs on Chinese products disrupted global trade — but haven’t appeared to result in major concessions from Beijing.
As the president heads to the Middle East, America’s dominance over A.I. chips has become a powerful source of leverage for the president.
European officials call food safety standards a “red line,” as Trump administration officials criticize rules that keep American beef and other meats off grocery shelves.
The president said reducing tariffs to 80 percent from the current 145 percent “sounds right,” as U.S. and Chinese negotiators prepare to meet in Switzerland.
A small group of Republicans is threatening to torpedo President Trump’s agenda over the state and local tax deduction, long a headache for both parties.
The president thinks he can return America to manufacturing glory — but the cycles of economic history are hard to break.
The nuclear-armed rivals are also wrangling over Pakistan’s access to desperately needed foreign aid, as India explores ways to use its soft power and relationships to bedevil its old enemy.
A deal would be a positive sign for both governments, which have eyed an agreement since President Trump’s first term.
As he proposes ever stiffer tariffs, President Trump has normalized his merely big ones.
Scott Bessent, the Treasury secretary, and Jamieson Greer, the United States trade representative, will discuss trade and economic matters with the officials this week.
But the effects of the levies, which have created uncertainty for businesses, have not yet been fully felt.
Ford Motor also reported a sharp drop in profits in the first three months of the year.
The Treasury secretary urged executives and entrepreneurs to look beyond the Trump administration’s trade agenda.
Despite his administration’s lack of concern about climate change, a recession would give the atmosphere a break. At least in the short term.
Millions of single-family homes are underused, on spacious lots. Refitting them for “roommate houses” or backyard cottages could make a difference.
Increased payroll taxes are one element of a desperate bid in Kenya to keep the government running and pay off the country’s foreign creditors.
For countries that depend heavily on oil revenue, dropping prices are worrisome.
American consumers are not yet seeing much evidence of the drastic changes President Trump has made on trade. But they are on their way.
The standoff over terms of negotiations, and whether they are happening, signals that a protracted economic fight lies ahead.
Supporters say the change is important to stop cheap Chinese goods from entering the U.S. But the decision could drive up prices for goods Americans buy online.
General Motors now expects to earn a lot less than it did before President Trump imposed 25 percent tariffs on imported cars and auto parts.
At the end of a cabinet meeting, the president allowed for the possibility that trade war could disrupt supply chains.
Here’s what a variety of voters who made their choices in November’s election with some hesitation had to say about President Trump’s first 100 days.
The White House press secretary, Karoline Leavitt, attacked the retail giant over a report that suggested Amazon would highlight tariff-related price increases. Amazon said it was “not going to happen.”
Most levies on imported cars and car parts will remain in place, but automakers have secured some relaxation of the trade policy.
The planned concessions to give automakers more time to relocate production to the United States would still leave substantial tariffs on imported cars and car parts.
Howard Lutnick, the secretary of commerce, has become a go-to for major companies seeking relief from tariffs. But he’s not always friendly to their interests.
The cases are the latest test of the president’s expansive claims of executive power.
Medicines and chemicals are huge exports for European Union countries. That makes the sector a weak spot as trade tensions drag on.
President Trump said that “we’re meeting with China” on tariffs, comments aimed at soothing jittery financial markets. But Chinese officials say no talks have taken place.
The Trump administration has been saying that the two countries are engaged in talks to resolve the dispute, but Beijing asserts that no such discussions are happening.
The president’s threats of tariffs have brought countries like Japan, South Korea and India rushing to negotiate, but they have sown chaos with bigger trading partners like China.
President Trump has said his punishing tariffs would force companies to build factories in the United States. But it is far from clear that they will have the effects he predicted.
Treasury Secretary Scott Bessent argued in a speech that the multilateral economic institutions have veered away from their missions.
The International Monetary Fund expects slower growth and higher inflation in the U.S. as a result of President Trump’s trade policies.
The company, which has branched out from Greek-style yogurt, will invest more than $1 billion in the plant in the city of Rome.
The idea of raising taxes on rich Americans has caught the Republican Party between its populist ambitions and low-tax instincts.
The country’s debt is in demand amid the chaos in financial markets spurred by whipsawing U.S. tariff policies.
Leaders of the union representing government workers say their battle is galvanizing but also alarming. “It’s insulting to say,” one said, “that we are lazy.”
President Trump’s trade war is forcing companies to cut costs, raise prices, shrink profits, discontinue products and find other suppliers.
The Grand Egyptian Museum, outside Cairo, has been delayed by revolutions, wars, financial crises and a pandemic. At long last, here’s a look inside.
“You have to laugh to keep from crying,” one Republican pollster said about recent comments by the billionaires on the stock market, retirement funds and Social Security.
In Washington, President Trump lavished praise on Prime Minister Giorgia Meloni of Italy. He also accepted her invitation to visit Rome.
As of August, the president’s investment portfolio showed significantly more in bonds than in stocks. It is unclear if his personal holdings had any bearing on his decisions regarding tariffs.
Jerome Powell has said that the Federal Reserve can be patient as the effects of tariffs become more clear. President Trump, pushing for interest rate cuts, said, “Powell’s termination cannot come fast enough!”
Kristalina Georgieva, the managing director of the International Monetary Fund, warned in a speech that protectionism erodes productivity.
Organized labor has taken a leading role in challenging the Trump administration’s downsizing agenda in court. A new service will offer more individualized representation.
The blanket tariffs, once considered extreme, still threaten to harm world trade and make everything more expensive for businesses and consumers.
The president at turns praises and criticizes Japan, a U.S. ally that decades ago stirred his anger over the unequal balance of trade and his penchant for tariffs.
President Trump’s trade policies will make imports more expensive and calculating and paying the tariffs more complicated.
President Trump is staking everything on winning by imposing tariffs on China. But the fight threatens to choke off negotiations about other issues like Taiwan, fentanyl, TikTok and more.
The president has suggested that he will move forward with a national security investigation this week that is likely to result in tariffs on chips.
President Trump’s post on social media caused the stock market to respond in an unusual way. Rob Copeland, a finance reporter for The New York Times, explains whether this could be considered market manipulation by the president.
The Trump administration is in a standoff with the Chinese government as trade tensions escalate, leaving U.S. businesses in the cross hairs
Many Americans have purchased foreign-made products out of fears that companies could start to raise prices soon.
The Treasury secretary received counsel and criticism from some of his predecessors over President Trump’s policies.
Ursula von der Leyen is trying to ensure that if the international trading system is remade, the E.U. is at the center of what comes next.
The legal organization behind a lawsuit challenging President Trump’s tariffs is funded by groups linked to Charles Koch and Leonard A. Leo.
Soybean producers warn that farms could go under as the Trump administration hits China with new tariffs of 145 percent.
White House officials clarified on Thursday that the 125 percent tariff the president announced on Wednesday was in addition to a 20 percent added to the country since President Trump returned to office.
Small factories with tiny profit margins have played a central role in China’s international competitiveness. Many could now face disaster.
Beijing announced a new round of 50 percent tariffs in response to President Trump’s latest levies as the trade conflict between the superpowers escalates.
Behind Trump’s new tariffs is a goal that is as ambitious as it is unrealistic: eliminating the bilateral trade deficit with every U.S. trading partner.
Jamieson Greer, the United States trade representative, told senators the U.S. economy was in need of “drastic, overdue change.”
Dozens of foreign governments were trying to appeal to the president to have steep tariffs rolled back, but the president and his advisers have indicated negotiations could be difficult.
A bear market occurs when stocks fall 20 percent from a recent peak. As global markets continue their meltdown, here’s what it means for your money and the economy.
The rapid drop shows that cryptocurrencies, which the president has promoted, are subject to the same market gyrations as any other risky asset.
President Trump vowed to aid entrepreneurs by reducing taxes and slicing red tape. But some owners say other policies have put them at a disadvantage.
The amount of manufactured goods exported from Africa to the United States is minuscule. But for Lesotho, the impact of a stunning 50 percent tariff is enormous.
The president announced sweeping tariffs on Wednesday in an effort to reset global trading relationships. Here’s what you need to know.
The company’s move is one of the first and clearest examples of automakers using price increases to deal with the 25 percent tariffs President Trump imposed on car and auto parts imports.
