Author: News Room

The European Union is putting tariffs on a range of products from the United States in retaliation to President Trump’s steel and aluminum tariffs, and items that come from Republican-held states rank high on the hit list.The European Union plans to institute the tariffs in two phases: The first wave will take hold on April 1, and will impact goods that already had tariffs applied during Mr. Trump’s first term, such as bourbon, boats and motorcycles. For certain products like whiskey and Harley-Davidson motorcycles, those tariffs would be as much as a crushing 50 percent.The second wave is still being…

Jalen Brunson first experienced the fervor of the N.B.A.’s biggest international market in 2018 when, as a rookie, he traveled with the Dallas Mavericks to China for a pair of preseason games. The trip itself was brief, but the reception that Mr. Brunson and his teammates received left a lasting impression.“The fandom that basketball brought to that country, I thought it was really cool and interesting and something I wanted to be a part of,” Mr. Brunson said in a recent interview.Now a star for the New York Knicks, Mr. Brunson, 28, took a crucial step toward that goal before…

Tesla is getting crushed in China, its most important market outside the United States and one that it had dominated for years.When Liu Jie, 32, decided to buy an electric car in October, Tesla was one of her top choices. But after test-driving a few Chinese cars, she went with a sports sedan from Xiaomi, a consumer gadget maker better known for its smartphones, kettles and robot vacuums.“Xiaomi is more fashionable,” Ms. Liu said last week in Beijing. “Tesla, for me, it’s a little bit normal. You can see the Tesla Model Y everywhere.”It’s not personal, buyers said. Tesla is…

Trade war A new round of tariffs on aluminum and steel went into effect overnight. This time, no U.S. trading partner was spared.The new tariffs amped up the risk of a global trade war. The European Union on Wednesday vowed to roll out $28 billion in retaliatory levies next month on American products, including bourbon, jeans and agricultural products.“Jobs are at stake, prices up, nobody needs that,” said Ursula von der Leyen, president of the European Commission. Jonathan Reynolds, Britain’s trade secretary, said his country would “keep all options on the table.”European officials hope they can still strike a deal.…

Britain is parting company with the European Union by not retaliating to the tariffs that President Trump imposed on steel and aluminum imports on Wednesday, as Prime Minister Keir Starmer calculates that he can negotiate a trade deal with the United States that would spare his country in the long term.The approach contrasts sharply with that of the European Union, which hit back swiftly with retaliatory measures on American exports, including Harley-Davidson motorcycles, bourbon and jeans, and top European officials have warned about the uncertainty Mr. Trump’s policies are causing. By contrast, British officials have expressed only muted disappointment that…

Meta won a legal victory on Wednesday against a former employee who published an explosive, tell-all memoir, as an arbitrator temporarily prohibited the author from promoting or further distributing copies.Sarah Wynn-Williams last week released “Careless People: A Cautionary Tale of Power, Greed, and Lost Idealism,” a book that describes a series of incendiary allegations of sexual harassment and other inappropriate behavior by senior executives during her tenure at the company. Meta pursued arbitration, arguing that the book is prohibited under a nondisparagement contract she signed as a global affairs employee.During an emergency hearing on Wednesday, the arbitrator, Nicholas Gowen, found…

Northvolt, Europe’s biggest hope for producing batteries in the region to power the transition to electric vehicles, will be split up and sold after it filed for bankruptcy on Wednesday in its home country, Sweden.The company, which just a few years ago appeared to be Europe’s best chance to compete against Chinese rivals, filed for Chapter 11 bankruptcy protection in the United States last year in an attempt to buy it more time to raise money.But securing funds proved too difficult. On Wednesday, Northvolt said in a statement that a court-appointed Swedish trustee would take over the process of selling…

Intel, a fallen Silicon Valley icon trying to restore its reputation as America’s most prominent semiconductor company, has named Lip-Bu Tan, an experienced business and technology leader, as its new chief executive.Mr. Tan, 65, will be responsible for reviving the fortunes of a chip-making company that has fallen from grace. Once one of the best-known names in technology, the semiconductor giant has been hobbled in recent years by its struggles to innovate and failure to claim a share of the market for chips used in smartphones and artificial intelligence.Intel’s problems became so pronounced that last year it ousted its chief…

This week, the top copy editor of The New Yorker announced that the magazine had completed a “reëxamination” of its house style.A few things were changing. But its dedication to the dieresis — those two little dots that float above certain vowels, beloved by New Yorker editors and almost nobody else — was not.“For every person who hates the dieresis and feels like it’s precious and pretentious and ridiculous, there’s another person who finds it charming,” Andrew Boynton, the head of the copy department at the magazine, said in a phone interview on Wednesday.The magazine, which doesn’t look a day…

President Trump has tapped Michelle W. Bowman, a Federal Reserve governor, to be the next vice chair for supervision at the central bank, according to a White House official who was not authorized to speak publicly.The position was vacated at the end of last month by another Fed governor, Michael S. Barr, who stepped down from the role to avert a protracted legal fight in the event that the president followed through on threats to fire him.Ms. Bowman, whom Mr. Trump appointed to the Fed’s seven-seat Board of Governors during his first term, was long seen as the top contender…