Author: News Room

Follow live updates on the Trump administration.During his presidential campaign, Donald J. Trump pledged to quickly bring down prices for American households, including making housing more affordable.“We’re going to open up tracts of federal land for housing construction,” Mr. Trump said in August. “We desperately need housing for people who can’t afford what’s going on now.”The Trump administration is now trying to follow through on that promise. Last month, federal officials created a task force that would identify and release federal land that could be used for housing development.The announcement is the first major initiative the Trump administration has rolled…

The German sportswear company Adidas said on Tuesday that the increase in tariffs would lead to higher prices for its sneakers and sportswear for U.S. customers.“Since we currently cannot produce almost any of our products in the U.S., these higher tariffs will eventually cause higher costs for all our products for the U.S. market,” Bjorn Gulden, the company’s chief executive, said Tuesday on a call with analysts.Mr. Gulden said Adidas had sent extra inventory to the United States to clear customs before tariffs took effect, but he added that the company would eventually feel President Trump’s 10 percent base-line duty…

Thrive Capital has bet big on artificial intelligence, including emerging giants of the field like OpenAI and Databricks.Now the venture capital firm is taking a different approach: creating and buying companies that it believes can benefit from A.I. — including in industries that seem far more humdrum, such as accounting — and holding on to them for a long time.Thrive is raising money for a company it has created called Thrive Holdings, which is meant to develop and buy start-ups, according to four people with knowledge of the matter. The idea is to help operate the businesses, and use the…

General Motors is abandoning a previous forecast for solid profit growth this year as a result of the uncertainty created by President Trump’s trade policies, the automaker said on Tuesday.The Trump administration imposed a 25 percent tariffs on imported cars this month and has said it will impose a 25 percent duty on imported parts on Saturday. About half the cars that G.M. sells in the United States in a typical year are made abroad, mostly in Canada and Mexico.“We are not going to give any more forward guidance on tariffs until we have more clarity,” the company’s chief financial…

Last month, Paolo Ardoino, the chief executive of the cryptocurrency company Tether, joined business executives and U.S. lawmakers for a private lunch at the Willard, a luxury hotel near the White House.For years, Tether had faced accusations that it lied about its finances and allowed crime to flourish on its platform. But at the Willard, Mr. Ardoino and other crypto leaders were warmly greeted by Senator Bill Hagerty, a Tennessee Republican on the Senate Banking Committee, who attended the lunch and participated in a group discussion about digital currency regulations and national security, according to four people with knowledge of…

After a five-year reprieve, the Trump administration will restart forced collections on federal student loans in default, which could include garnishing a portion of borrowers’ paychecks.With collections in place, the last piece of the student loan machinery has been turned back on, officially ending pandemic-era relief, which began when President Trump paused federal student loan payments in March 2020.The Biden administration extended the freeze several times, and payments resumed only in October 2023. But the rules were relaxed for the first year of repayment, and borrowers weren’t penalized for slipping behind until last fall.Now that those penalties have begun to…

The Trump administration said it plans to announce measures as early as Tuesday to ease the impact of tariffs on imported cars and car parts to give automakers more time to relocate production to the United States.Tariffs of 25 percent on imported vehicles and on auto parts will remain in place. But the tariffs will be modified so that they are not “stacked” with other tariffs, for example on steel and aluminum, a White House spokesman said. Automakers will not have to pay tariffs on those metals, widely used in automobiles, on top of the tariffs on cars and parts.In…

The House on Monday overwhelmingly passed bipartisan legislation to criminalize the nonconsensual sharing of sexually explicit photos and videos of others — including A.I.-generated images known as “deepfakes” — and to mandate that platforms quickly remove them.The vote of 409 to 2 cleared the measure for President Trump, who was expected to quickly sign it.The legislation, known as the Take It Down Act, aims to crack down on the sharing of material known as “revenge porn,” requiring that social media companies and online platforms remove such images within two days of being notified of them.The measure, which brought together an…

Since Howard Lutnick was tapped to serve as President Trump’s commerce secretary, executives from some of the world’s largest companies have been trying to win him over.Leaders of Nvidia, Facebook, Taiwan Semiconductor Manufacturing Company and Alphabet have visited his newly purchased $25 million property in Washington — a 16,250-square-foot mansion that Mr. Lutnick, a billionaire, recently quipped would be “big enough for my ego” — to persuade him to adopt a business-friendly agenda.As Mr. Trump ratcheted up tariffs to levels not seen in a century, Ford, General Motors and other companies that have built their businesses around international trade reached…

President Trump has made clear his intent to smash the reigning global economic order. And in 100 days, he has made remarkable progress in accomplishing that goal.Mr. Trump has provoked a trade war, scrapped treaties and suggested that Washington might not defend Europe. He is also dismantling the governmental infrastructure that has provided the know-how and experience.The changes have been deep. But the world is still churning. Midterm elections in two years could erode the Republican majority in Congress. And Mr. Trump’s reign is constitutionally mandated to end in four years. Could the next president come in and undo what…