Author: News Room

President Trump on Friday plans to unveil his budget for the 2026 fiscal year, proposing billions of dollars in cuts targeting child care, education, health, housing and nutrition programs, including those that benefit the poor.The blueprint is likely to showcase Mr. Trump’s conservative vision for Washington while formalizing his disruptive reorganization already underway, as he shutters entire offices and dismisses scores of federal workers without the explicit approval of Congress.Here’s what else to know:Safety net cuts: Mr. Trump is expected to slash some federal safety net programs, according to early budget documents reviewed last week by The New York Times.…

The economy is contracting, companies are reporting losses and consumers are tightening their belts.As dour as the economic data has been this week, President Trump continues to insist his policies are working.Ahead of a closely watched — and unpredictable — jobs report released Friday morning, Mr. Trump has sought to take an early victory lap for his first 100 days in office, dismissing the many signs indicating the U.S. economy may be on the cusp of a painful downturn.Instead, Mr. Trump has heralded his pursuit of steep tariffs and tax cuts as the ingredients for an imminent boom. And he…

The two largest U.S. oil companies reported their lowest first-quarter profits in years on Friday as they braced for the economic fallout from President Trump’s trade war, which has weakened consumer confidence and pushed oil prices down.U.S. crude prices slipped below $60 a barrel this week, a threshold below which many companies cannot make money drilling new wells. Crude oil is now about $20 a barrel cheaper than it was just before Mr. Trump took office. Not only is oil fetching less, companies are paying more for steel and other materials because of tariffs the president has imposed.There are signs…

The economy is contracting, companies are reporting losses and consumers are tightening their belts.As dour as the economic data has been this week, President Trump continues to insist his policies are working.Ahead of a closely watched — and unpredictable — jobs report released Friday morning, Mr. Trump has sought to take an early victory lap for his first 100 days in office, dismissing the many signs indicating the U.S. economy may be on the cusp of a painful downturn.Instead, Mr. Trump has heralded his pursuit of steep tariffs and tax cuts as the ingredients for an imminent boom. And he…

“Oh, wow, this is really cool,” Flannery Johnston, 28, said as the chatbot came to life, offering a personalized hello from M3GAN, the diabolical A.I. doll at the center of the movie. Over the next 20 minutes, the chatbot served up about 10 messages. One was a question: “Do you think they’re inventing other dolls like me?” An affirmative reply prompted the response, “Don’t be delulu.”Ms. Johnston’s interest quickly faded, however.“I started to feel uncomfortable looking at my phone — I didn’t want to be obnoxious — and basically just waited until after the movie was over to read through…

Now that the United States has secured a deal to share the rights to Ukraine’s mineral reserves — including elements crucial for a range of high-tech applications, from powering electric vehicles to producing warplanes and tanks — the path to actually extracting the minerals is fraught with formidable challenges and uncertainty.And ending the war with Russia that has been raging for more than three years is only the first hurdle that will need to be overcome before the United States can realize any potential windfall.Maps showing trillions of dollars of mineral deposits scattered across Ukraine — including in areas occupied…

When Congress raised the threshold for imported goods to enter the United States tax-free to $800 from $200 nearly a decade ago, it threw open the door to the American consumer market.Chinese companies rushed in. First on platforms like eBay and Amazon, and then on apps like Shein and Temu, exporters funneled the products of China’s vast manufacturing supply chain straight to doorsteps in the United States.This single policy change in 2016 helped transform the economic relationship between the two countries.While the United States has received factory goods from China for decades, and China’s manufacturing efficiency has loaded the supply…

The Trump administration on Friday officially eliminated a loophole that had allowed American shoppers to buy cheap goods from China without paying tariffs. The move will help U.S. manufacturers that have struggled to compete with a wave of low-cost Chinese products, but it has already resulted in higher prices for Americans who shop online.The loophole, called the de minimis rule, allowed products up to $800 to avoid tariffs and other red tape as long as they were shipped directly to U.S. consumers or small businesses. It resulted in a surge of individually addressed packages to the United States, many shipped…

A woman has filed a lawsuit against American Airlines, saying a man sexually assaulted her during a red-eye flight from San Francisco to Dallas last year.Barbara Morgan, a California resident, said that shortly after the flight took off and the lights were dimmed, the man sitting next to her in the middle seat started rubbing his arms against her in a deliberate attempt to touch her breasts.She tried to create some distance from the man, Ms. Morgan said, but he was undeterred. “He placed his hand on the plaintiff’s upper thigh, slid it up toward her vagina and fondled her…

New Yorkers — and residents of many other states — have paid more for entertainment in recent years than just their Netflix or Hulu subscriptions.Each New York household has also contributed about $16 in taxes, on average, toward producing the drama series “Billions” since 2017. Over that period, each household has also paid roughly $14.50 in production incentives for “Saturday Night Live” and $4.60 for “The Irishman,” among many other shows and movies.Add it all up, and New York has spent more than $5.5 billion in incentives since 2017, the earliest year for which data is readily available. Now, as…