Author: News Room

The 25 percent tariff Canada began collecting on cars and trucks imported from the United States early Wednesday is not just the country’s latest act of retaliation against tariffs imposed by President Trump on Canadian exports. The estimated 8 billion Canadian dollars a year, about $5.7 billion, that those levies are expected to generate will also bankroll help for companies and workers now under economic threat from the United States.With no obvious or immediate end in sight to Mr. Trump’s tariffs push, Canada is now turning its attention on how to lessen the impact of the job losses, plant closings…

Delta Air Lines on Wednesday became one of the largest American companies to warn that President Trump’s escalating trade war was weighing on its business and the global economy.Speaking before Mr. Trump reversed many of the tariffs he had just imposed on most countries, Delta’s chief executive, Ed Bastian, said a recession was possible as companies pulled back spending. “Everyone’s being prepared for uncertainty,” he told CNBC, “if that continues, and we don’t get resolution soon, we will probably end up in a recession.”Mr. Trump’s announcement helped send Delta stock up over 20 percent on Wednesday and prompted a broad…

For the second year in a row, Trader Joe’s has brought a Black Friday-like frenzy to its stores. But instead of lining up for a new video game console or Taylor Swift vinyl, customers are waiting their turn to buy miniature tote bags bearing the grocery chain’s logo for $2.99.Some people camped out in front of stores hours before they opened, while others sent friends to grab the exclusive item for them. On a few occasions, people appeared to wrestle or get into physical altercations over the 11-by-13-inch canvas bags, videos on social media showed.Kevin Burgoon, an employee at a…

A sharp sell-off in U.S. government bond markets and the dollar has set off fears about the growing fallout from President Trump’s sweeping tariffs, raising questions about what is typically seen as the safest corner for investors during times of turmoil.Yields on 10-year Treasuries — the benchmark for a wide variety of debt — whipsawed on Wednesday after Mr. Trump paused the bulk of the levies he had threatened the week before and raised the rates charged on Chinese goods after that country retaliated.The 10-year bond was trading at 4.37 percent, slightly lower than earlier in the day but still…

Oil prices continued to sink on Wednesday after China said it would match President Trump’s tariffs blow for blow. The U.S. price dropped as low as $55 a barrel before recovering somewhat.The slide in crude prices signals deteriorating confidence in the strength of the economy. And while lower oil prices benefit consumers by, ultimately, reducing prices at the pump, they are a big problem for U.S. oil producers, many of which will struggle to make money drilling new wells at these levels.For now, many companies are waiting to see whether prices remain between $50 and $60 before adjusting drilling or…

Even as President Trump heaped additional tariffs on China, his barrage of trade levies on countries across Asia and unpredictability about what he might do next has encouraged some companies to hunker down in China, exactly the opposite of what he had hoped.Mr. Trump has steadily ratcheted up the pressure on China. As of Wednesday, his new tariffs on China exceed 100 percent, including a last-minute escalation serving as punishment for Beijing’s retaliation on earlier levies.However, unlike what happened during his first term, Mr. Trump has accompanied the tariff campaign on China with steep import duties on dozens of other…

Bob McManus, the trenchant editorial page editor of The New York Post and a columnist for other conservative publications who prided himself on his unambiguous common-sense commentary about public policy and other topics, died on Saturday in Manhattan. He was 81.The cause of his death, in a hospital, was complications of bile duct cancer, said his wife, Mary McManus.An influential and respected editorialist, Mr. McManus pulled no punches but still managed to be widely liked.He could unleash a fusillade of zingers against public officials and other prominent targets he branded phonies or hypocrites. But he could also leaven his caustic…

In Lesotho, the small southern African nation that is among the countries hardest hit by President Trump’s new tariffs, business owners were meeting on Wednesday to strategize their response.For a country with an economy worth just $2.1 billion, few options are on the table.Mr. Trump imposed a 50 percent tariff on Lesotho, owing to the trade deficit between the country of 2.3 million people and the United States. Only Saint Pierre, a sparsely populated French archipelago off the coast of Canada, was hit the same tariff increase.On Wednesday, Lesotho’s private sector was looking to the government for answers. The government,…

In Lesotho, the small southern African nation that is among the countries hardest hit by President Trump’s new tariffs, business owners were meeting on Wednesday to strategize their response.For a country with an economy worth just $2.1 billion, few options are on the table.Mr. Trump imposed a 50 percent tariff on Lesotho, owing to the trade deficit between the country of 2.3 million people and the United States. Only Saint Pierre, a sparsely populated French archipelago off the coast of Canada, was hit the same tariff increase.On Wednesday, Lesotho’s private sector was looking to the government for answers. The government,…

The parallels between President Trump and Liz Truss, Britain’s shortest-serving prime minister, are growing starker. Ms. Truss triggered market turmoil in 2022 after she proposed sweeping tax cuts that she proposed to pay for with massive government borrowing. Ms. Truss was ultimately doomed by fears of a credit crisis after yields on British government bonds spiked.Now, yields on U.S. Treasuries are beginning to rise. On Wednesday, in the hours after Mr. Trump’s latest tariffs went into effect, including levies of more than 100 percent on China, the yield on the 10-year U.S. Treasury rose to as high as 4.5 percent,…