Author: News Room

Jaguar Land Rover, the British luxury automaker, said on Saturday that it was pausing shipments to the United States in April, days after President Trump’s auto tariffs went into effect.The company, which makes luxury cars that include Jaguars, Defenders and Range Rovers, does not have manufacturing facilities in the United States and exports all the cars it sells there. In the last three months of 2024, it shipped 38,000 cars to the United States. The Trump administration imposed a tariff of 25 percent on imported cars as of Thursday.“The U.S.A. is an important market for JLR’s luxury brands,” the company…

Soon after the new administration arrived, things began to go missing from the White House website.They weren’t just the partisan policy platforms that typically disappear during a presidential transition. Informational pages about the Constitution and past presidents, up in various forms since President George W. Bush was in office, all vanished.Thousands of other government web pages had also been taken down or modified, including content about vaccines, hate crimes, low-income children, opioid addiction and veterans, before a court order temporarily blocked part of the sweeping erasure. A Justice Department database tracking criminal charges and convictions linked to the Jan. 6,…

The Republican Party embarked this week on a haphazard experiment in economic policymaking, wagering that the United States can weather a monumental tax increase in the form of broad tariffs on imported goods as long as Congress also cuts taxes on income.It’s a mash-up that many investors, economists and even some G.O.P. lawmakers expect to be a failure.“I always think that with gambling, at least you have a chance of winning. This is worse than that,” Douglas Holtz-Eakin, a conservative economist who worked for former President George W. Bush, said. “This is betting with the mafia. You’re going to lose.”President…

‘As a business owner, you don’t make money right away, right?’Hamid Chaudhry, 53, from Reading, Pa.“I live in Trump country,” Hamid Chaudhry said. “Nobody is panicking.”The owner of a farmer’s market, he said he has taken a 25 percent cut in profits over the past year because of the rising costs of goods and services. He said he believed that in the next few months, the pain could run even deeper, so he was building up a rainy-day fund. But he was hopeful that the tariffs would eventually pay off, most likely by the next presidential election.“As a business owner,…

It was much worse than expected. President Trump’s attempt to reverse the rules of global trade through sweeping tariffs against dozens of nations, including major partners like the European Union, Japan and China, has caused a meltdown in global markets and sent corporate boardrooms scrambling.Today, 10 percent tariffs go into effect on all of America’s trading partners except Canada and Mexico. Additional, “reciprocal” tariffs will go into effect on dozens of other nations on Wednesday. China faces the toughest levies — at least 54 percent — and it hit back with its own toll on U.S. goods yesterday. Expect a…

Believe the hype: Epic Universe, the first major new theme park to open in Central Florida in 26 years, lives up to its name and then some.Honestly, I’m as shocked as you are.But epic-ness was indeed my takeaway after recently spending two days inside Epic Universe as part of “technical rehearsals,” a type of soft opening. When it officially debuts on May 22, the estimated $7 billion-plus property should narrow the gap between the Universal Orlando Resort, long the challenger brand in Orlando’s $92.5 billion tourism market, and Walt Disney World, which has dominated since arriving in 1971.Epic Universe, eight…

The nation that the Trump administration slapped with the heftiest tariff this week is a small, rural, landlocked country in southern Africa that is among the world’s poorest.Lesotho, which makes denim that goes into American-branded jeans, was hit with a 50 percent tariff. It was among several lower-income countries on the continent that were shocked by levies high above the minimum 10 percent imposed on nearly all of America’s trading partners. Madagascar, where three-quarters of the population lives in poverty, now will be met with a 47 percent tariff when its apparel, vanilla and other exports enter the United States.Products…

The notion that the Federal Reserve will rush in to rescue investors in a crisis has comforted investors for decades. But in the big market downturn induced by President Trump’s tariffs, no Fed rescue is in sight.Jerome H. Powell, the Federal Reserve chair, made that clear on Friday. The tariffs are much “larger than expected,” he said, and their immense scale makes it especially important for the central bank to understand their economic effects before taking action.“It is too soon to say what will be the appropriate path for monetary policy,” he said at a conference in Virginia.In fact, I’d…

With the tariffs that President Trump unveiled on Wednesday, he is not just closing America’s front door to Chinese exports — he is slamming the back doors shut as well.He has now piled tariffs totaling 54 percent on goods coming straight from China, on top of tariffs of up to 25 percent that he imposed on many imports from China during his first term. More significantly, his latest actions attempt to cut off a series of alternative routes for Chinese goods to reach American store shelves and households.Since Mr. Trump began imposing tariffs on goods from China seven years ago,…

Paper checks issued for tax refunds, Social Security payments and other government benefits have been dwindling and will soon be eliminated, potentially affecting hundreds of thousands of Americans.President Trump signed an executive order on March 25 directing the federal government to stop issuing paper checks as of Sept. 30. Instead, government agencies must make payments electronically, by direct deposit to a bank account, debit card or digital wallet.“This executive order will defend against financial fraud and improper payments, increase efficiency, reduce costs and enhance the security of federal payments,” a White House spokeswoman, Liz Huston, said in an emailed statement.Most…