Author: News Room

President Trump’s move this weekend to slap sweeping tariffs on Canada, Mexico and China is threatening to fracture the global trading system and a world economic order that once revolved around a U.S. economy that prized open investment and free markets.The speed and scope of the import duties that Mr. Trump unveiled in executive orders on Saturday prompted widespread criticism from many lawmakers, economists and business groups, who assailed the actions as economic malpractice. They warned that the tariffs, which were levied in response to Mr. Trump’s concerns about fentanyl smuggling and illegal immigration, could inflame inflation, cripple American industries…

A United Airlines flight from Houston to New York was evacuated on Sunday morning because of flames coming from an engine, video shows.Flight 1382 was about to depart George Bush Intercontinental Airport for LaGuardia Airport just after 8:30 a.m. when the crew “received an indication about one engine and halted the takeoff while still on the runway,” United said in a statement.A video circulating on social media showed smoke and flames coming out of one of the engines of the plane, an Airbus A319.All 104 passengers safely exited the plane to the runway using slides and stairs and were bused…

President Trump is moving forward with extensive tariffs on America’s closest trading partners. Beginning Tuesday, companies bringing products into the United States from Canada and Mexico will pay a 25 percent tariff; importers bringing products in from China will pay an additional 10 percent on top of existing levies.The president has insisted that these tariffs will not increase prices for American consumers and that if anyone pays the cost, it will be foreign countries.But a simple review of how tariffs work suggests that is not the case. Here’s what to know about who pays.Who pays for tariffs up front?A tariff…

Diamond Pearson needed a new place to live and was looking for something with an industrial feel. When Liberty Crest Apartments in Fairfax County, Va., came up in her online search, she was intrigued.“I checked it out and fell in love — the brick, the concrete floors — it was so beautiful,” said Ms. Pearson, 32, who works at Fairfax County Schools. Every unit in the complex is unique, and she liked that, too. It wasn’t until she was signing the lease agreement that someone said, “Did you know this is an old prison?”Indeed, the development, now called Liberty, had…

The median American household has a combined balance of $10,000 in its checking and savings accounts, according to a census estimate. For the last few years, anyone keeping this amount in a high-yield savings account has earned close to 4 percent annual interest, or about $400 a year.But the average savings account interest rate is closer to 0.4 percent. And the nation’s three largest banks — Bank of America, Chase and Wells Fargo — offer 0.01 percent on their standard savings accounts. That works out to $1 in interest a year for a $10,000 deposit.Banks make up for those dismal…

Ask typical corporate executives about their goals in adopting artificial intelligence, and they will most likely make vague pronouncements about how the technology will help employees enjoy more satisfying careers, or create as many opportunities as it eliminates. A.I. will “help tackle the kind of tasks most people find repetitive, which frees up employees to take on higher-value work,” Arvind Krishna, the chief executive of IBM, wrote in 2023.And then there’s Sebastian Siemiatkowski, the chief executive of Klarna, a Swedish tech firm that helps consumers defer payment on purchases and that has filed paperwork to go public in the United…

President Trump’s decision on Saturday to impose new tariffs on imports from China poses a dilemma for Beijing’s leaders: Is it better to ignore the new tariffs or retaliate?Doing little runs the risk of looking weak in the eyes of the Chinese people. China’s extensive domestic propaganda apparatus has described China as a rising power, while the United States is portrayed as suffering inexorable decline.But vigorous retaliation risks starting a global trade war that could damage China more than the United States. China’s trade surplus — the amount by which its exports exceeded imports — reached almost $1 trillion last…

The Trump administration notified four major news organizations late on Friday that they would have to give up their dedicated office space at the Pentagon to make way for other outlets, including the right-wing sites Breitbart News and One America News.In a memo, a Department of Defense spokesman, John Ullyot, said that The New York Times, NBC News, NPR and Politico had to vacate their office space by Feb. 14 to allow for “a new outlet from the same medium that has not had the unique opportunity to report as a resident member of the Pentagon press corps” for a…

Almost all automakers are going to feel a pinch from the new tariffs imposed by President Trump on Saturday on goods imported from Canada, Mexico and China.Auto manufacturers ship tens of billions of dollars worth of finished automobiles, engines, transmissions and other components each week across the U.S. borders with Canada and Mexico. Billions of dollars more are imported from parts manufacturers in China.The tariffs, which will take effect at 12:01 a.m. on Tuesday, are widely expected to raise the prices that American consumers pay for new automobiles. And the tariffs come at a time when new cars and trucks…

Crude petroleum $165.3 bil. 12% from Mexico. 56% from Canada. 32% from Others. –$89.1 bil. Cars $208.0 bil. 22% from Mexico. 17% from Canada. 1% from China. 61% from Others. –$55.6 bil. Computers $103.2 bil. 27% from Mexico. <1% from Canada. 38% from China. 35% from Others. –$56.6 bil. Telephones $117.1 bil. 9% from Mexico. <1% from Canada. 47% from China. 44% from Others. –$56.6 bil. Car parts and accessories $85.5 bil. 41% from Mexico. 13% from Canada. 11% from China. 35% from Others. –$20.9 bil. Delivery trucks $43.5 bil. 75% from Mexico. 15% from Canada. <1% from China. 9%…