Author: News Room

The wheels come off Global stocks have run into a ditch on Thursday.The sell-off comes as President Trump doubled down on his threat to roll out 25 percent tariffs on auto imports beginning next week — and duties on auto parts shortly afterward — potentially upending an industry built on a complex global supply chain, reigniting inflation and inflaming trade war tensions.Hopes that negotiators can work out a deal are dimming. Trump said the tariffs were permanent. He also sees them as a revenue stream: The White House calculates that it could raise $100 billion annually. The tariff threat, however,…

Shares in automakers around the world tumbled on Thursday after President Trump announced plans to impose a 25 percent tariff on imported cars and some parts beginning next week.Among the hardest hit were carmakers based in Germany, Japan and South Korea, which sell many of their cars in the United States and rely on complex supply chains that cross borders, including from production sites in Mexico and Canada.Shares in Germany’s Volkswagen, Europe’s largest automaker, fell 2 percent. Other German carmakers like Mercedes-Benz and BMW dropped 2 to 4 percent in early European trading.Stellantis, the parent of Chrysler, Fiat, Jeep, Peugeot…

Mexico deployed thousands of National Guard troops to the border to deter migrants from reaching the United States. South Korea said it would invest $21 billion in expanding U.S. manufacturing. Japanese officials descended on Washington, offering to invest $1 trillion in the United States and buy more American natural gas.None of that was enough to prevent one of those countries’ biggest tariff concerns from becoming a reality on Wednesday, when President Trump declared that automobiles and car parts imported to the United States would face a 25 percent tariff starting on April 3.Mexico, Japan and South Korea, along with Canada,…

For at least a few days most weeks, Mei Kawajiri makes hotel calls to celebrities like Cardi B, Heidi Klum, Ariana Grande and Bad Bunny to whip up viral creations, often shared with her more than 343,000 Instagram followers. Her medium might be even more impressive: extravagant nail art — minutely detailed 3-D pastries, hand-drawn portraits of anime heroines and six-inch acrylics embedded with jewels and bits of lace.When she’s not collaborating with celebrities, Kawajiri works out of her combined home and office on the Lower East Side, her nail equipment tucked in a corner across from her toddler’s playpen,…

President Trump said in a middle-of-the-night social media post early Thursday that he would come after the European Union and Canada if they banded together to “do economic harm” to America, opening a new front in the unfolding trade war.“If the European Union works with Canada in order to do economic harm to the USA, large scale Tariffs, far larger than currently planned, will be placed on them both in order to protect the best friend that each of those two countries has ever had!” Mr. Trump wrote.Mr. Trump’s post creates a new problem for the European Union, which is…

“No Other Land” has racked up festival awards, critical acclaim and the Oscar for best documentary feature. Yet the film, a narrative exposé about Israeli demolitions of Palestinian homes directed by two Palestinians and two Israelis, has not been acquired by a traditional North American distributor. This is partly a reflection of the collapse of studio interest in newsy documentaries as well as hesitance around a movie that condemns Israeli policies.But as the filmmakers rolled out the movie without the marketing muscle and prestige of a typical release, it has flourished. By the admittedly parched standards of post-pandemic theatrical releases…

New cars will probably become much more expensive in the United States after President Trump imposed a new 25 percent tariff on foreign-made cars.Cox Automotive, a research firm, estimates that tariffs would add $6,000 to the price of a car made in Mexico or Canada, two of the top exporters of vehicles to the United States. Affected models include the Toyota Tacoma pickup, gasoline and electric versions of the Chevrolet Equinox, and several models of Ram pickups. Ram is owned by Stellantis, which also produces Dodge, Chrysler and Fiat vehicles.In addition to Canada and Mexico, the United States imports many…

After months of threats, the White House unveiled plans on Wednesday to impose tariffs on automobiles imported to the United States, a plan that is likely to hit car companies across the European Union hard.The move — which would place a 25 percent tariff on all cars not built in the United States — could ramp up pressure on Europe to respond with countermeasures.European Union officials have already announced plans to allow tariffs that were instituted during President Trump’s first term to snap back into place, and have said they will place a new set of tariffs on a wide…

President Trump said on Wednesday that he would impose a 25 percent tariff on cars and car parts that were imported into the United States, a move that could encourage U.S. auto production over the longer run but is likely to throw global supply chains into disarray and raise prices for Americans who buy an automobile.The tariffs will go into effect on April 3 and apply both to finished cars and trucks that are shipped into the United States and to imported parts that are included in cars assembled at American auto plants. Those tariffs will hit foreign brands as…

President Trump on Wednesday raised the possibility that he could relax steep upcoming tariffs on China in exchange for the country’s support on a deal to sell TikTok to a new owner supported by the United States.Acknowledging that Beijing is “going to have to play a role” in any transaction, Mr. Trump signaled to reporters at the White House that he could be open to negotiation. “Maybe I’ll give them a little reduction in tariffs or something to get it done,” he said.Under a law enacted before Mr. Trump took office, the Chinese-based parent company of TikTok must either sell…