Author: News Room

President Trump’s imposition of tariffs on all steel and aluminum imports could make it more expensive to produce cars in the United States, dealing another blow to automakers already facing the potential of rising steel prices because of other policies from his administration.Top of mind for auto executives was the bid by the Japanese steel maker Nippon Steel to buy U.S. Steel. Many of them had hoped that Mr. Trump would be open to negotiating a deal to allow the acquisition to go ahead. Instead, the president confirmed last month that he opposed the proposed deal.Many auto industry executives believe…

The German defense contractor Rheinmetall, Europe’s largest producer of munitions, said on Wednesday that it was positioned to profit from the region’s willingness to increase military spending as President Trump shifts the United States away from its support of Europe.Defying the malaise that has plagued the German economy for the past two years, Rheinmetall has reported record growth since the start of the war in Ukraine, building new factories in just months, leading digitization efforts and creating thousands of jobs.“An era of rearmament has begun,” Armin Papperger, the chief executive of Rheinmetall, said Wednesday on an earnings call with analysts.…

President Trump’s sweeping tariffs on foreign steel and aluminum went into effect on Wednesday, escalating America’s trade spats with global competitors, including close allies already reeling from his on-and-off approach to trade penalties.Mr. Trump’s tariffs of 25 percent on the metals hit imports that enter the United States from any country in the world. The move, which many domestic steel and aluminum makers support, is expected to raise costs for American manufacturers of cars, tin cans, solar panels and other products, potentially slowing the wider U.S. economy.The action on metals was just the latest attempt by Mr. Trump to leverage…

Stocks rose on Wednesday after a tumultuous few days of trading following President Trump’s decision to impose tariffs on some of the United States’ biggest trading partners and retaliatory measures by the European Union, China and Canada.Futures on the S&P 500, which allow investors to trade ahead of exchanges opening, were slightly higher. The Euro Stoxx 50 index, which comprises the eurozone’s largest listed companies, was up more than 1 percent in morning trading. Shares in Britain, Germany and France all broadly gained.In Asia, stock markets in Japan, South Korea and Taiwan nudged higher. Those indices were seen as among…

Inflation is expected to have stayed stubbornly high in February, an unwelcome sign for the Federal Reserve as it grapples with the prospect of a sharp slowdown in growth as a result of President Trump’s trade war.The latest reading of the Consumer Price Index, set for release on Wednesday, is forecast to have risen 2.9 percent from a year earlier, according to estimates from economists compiled by Bloomberg. That would represent a 0.3 percent monthly gain, a deceleration from January’s surprisingly large 0.5 percent increase but high enough to keep the central bank on edge about how it handles price…

The nation’s top securities regulator is backing down on crypto enforcement and climate disclosure initiatives as the agency is expected to take a more friendly and receptive approach to companies.But not everyone at the Securities and Exchange Commission is on board with this change in priorities under the Trump administration.When the S.E.C. announced last month that it would not be policing the sale of memecoins, Caroline Crenshaw, the lone Democratic commissioner at the S.E.C., quickly weighed in with a sharply different opinion about these novelty digital assets of often dubious value.“This guidance is not a reasoned interpretation of existing law,”…

The European Union has spent months bracing for painful tariffs from the United States, the bloc’s most important trading partner. On Wednesday, as American steel and aluminum tariffs of 25 percent took effect, European officials began to respond. While the United States buys the most steel and aluminum from countries including Canada, Brazil and Mexico, Germany is a notable steel producer. And because the tariffs will also affect products that contain steel and aluminum, such as cookware and window frames, the European Union said, they may hit some 26 billion euros — $28 billion — of the bloc’s exports in…

President Trump escalated his fight with Canada on Tuesday, threatening to double tariffs on steel and aluminum imports and pressing to turn one of America’s closest traditional allies into the 51st state. After several tense hours, both sides backed down, at least for now.It was the latest in a week of chaotic trade moves, in which the president startled investors and businesses that depend on trade and clashed with some of the country’s closest trading partners.In a post on his social media platform Tuesday morning, Mr. Trump wrote that Canadian steel and aluminum would face a 50 percent tariff, double…

“Making It Work” is a series about small-business owners striving to endure hard times.When Nicole Rizzo saw the “For Sale” listing for Die Cleaning Equipment, the first detail she liked was that it was run by a married couple. Ms. Rizzo, then 43, was searching for a company to run alongside her own husband. But her husband, David, was puzzled by the name. Was it something involving janitors?Die Cleaning Equipment, as it turned out, employed welders. The company in Phoenix made machines that cleaned other machines — specifically, aluminum extruders, which force the metal into shapes useful for everything from…

President Trump’s sweeping tariffs on foreign steel and aluminum went into effect on Wednesday, escalating America’s trade spats with global competitors, including close allies already reeling from his on-and-off approach to trade penalties.Mr. Trump’s tariffs of 25 percent on the metals hit imports that enter the United States from any country in the world. The move, which many domestic steel and aluminum makers support, is expected to raise costs for American manufacturers of cars, tin cans, solar panels and other products, potentially slowing the wider U.S. economy.The action on metals was just the latest attempt by Mr. Trump to leverage…