The U.S. trade war with China just got kicked up another notch.
The White House on Wednesday proposed a 25 percent tariff on $200 billion worth of Chinese goods, more than double the 10 percent tax rate originally planned.
U.S. trade representatives are trying to re-engage China in trade talks to de-escalate tensions between the two countries. Advisers reportedly told President Trump that China's authorities would be more likely to yield if higher tax rates were imposed.
Last month, the administration imposed a 25 percent tariff on $34 billion worth of Chinese goods, mostly machines and components. When Beijing immediately retaliated, Trump proposed additional taxes on $200 billion in importsーthis time affecting more consumer goods like furniture and computers.
Raising the proposed tax rate on those goods means extending the deadline for public comment on the plan from August 30 to September 5.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Federal Reserve Gov. Lisa Cook's lawyer says she'll sue President Donald Trump's administration to try to prevent him from firing her. Longtime Washington attorney Abbe Lowell said Tuesday that Trump “has no authority to remove” Cook. If Trump succeeds in removing Cook from the Fed's board of governors, it could erode the Fed’s political independence, which is considered critical to its ability to fight inflation because it enables the Fed to take unpopular steps like raising interest rates. The Republican president said Monday he was removing Cook because of allegations she committed mortgage fraud. Cook was appointed by Democratic President Joe Biden in 2022 and says she won't step down.
Federal Reserve governor Lisa Cook late Wednesday said she wouldn’t leave her post after Trump on social media called on her to resign over an accusation from one his officials that she committed mortgage fraud.
Politico's Marcia Brown breaks down the MAHA draft roadmap: industry-friendly, light on regulation, heavy on research and voluntary food policy changes.
Intel CEO Lip-Bu Tan says he’s “always operated within the highest legal and ethical standards” after coming under pressure following President Donald Trump’s call for him to resign.
Millions of Americans saving for retirement through 401(k) accounts could have the option of putting their money in higher-risk private equity and cryptocurrency investments.
A new federal rule would make it easier for companies to use drones over longer distances out of sight of the operator without having to go through a cumbersome waiver process.
President Donald Trump has signed the GENIUS Act into law, setting new regulations for stablecoins, a type of cryptocurrency tied to assets like the U.S. dollar.
A top Federal Reserve official said late Thursday that the central bank should cut its key interest rate later this month, carving out a different view than that of Chair Jerome Powell
