US President Donald Trump’s top economic adviser Gary Cohn is resigning, the White House has said. It is the latest in a series of high-profile departures from President Trump’s team. There has been speculation that Mr Cohn, a supporter of free trade, was angered by Mr Trump’s plans to impose tariffs on aluminium and steel … Read more
US President Donald Trump is launching a campaign to pinpoint nations and goods responsible for his country’s huge trade deficit. It’s a protectionist warning shot directed at trade partners like China and Germany. Top administration officials said Donald Trump would issue a pair of executive orders on Friday “aimed at rooting out the causes and … Read more
President Donald Trump will sign a pair of orders today directing his administration to pinpoint countries that are ‘cheating’ on trade and engaging unfair practices like currency manipulation. The president wants his staff to identify countries and products that are contributing to America’s nearly $50 billion trade deficit, in a protectionist warning shot to trade … Read more
President Donald Trump will order staff Friday to pinpoint countries and goods responsible for America’s nearly $50 billion trade deficit, in a protectionist warning shot to trade partners like China. Top administration officials said Trump will issue a pair of executive orders aimed at rooting out the causes and culprits behind America’s trade deficit, in … Read more
The Trump administration’s top trade advisor said Monday US trade deficits are a threat to national security that could cause the loss of American freedom and prosperity. Outlining an unapologetically aggressive trade policy, Peter Navarro, director of the White House National Trade Council, accused economists and the media of ignoring the risk posed by trade … Read more
Billionaire investor Wilbur Ross is expected to be easily confirmed as U. S. Commerce Secretary on Monday, clearing President Donald Trump’s top trade official to start work on renegotiating trade relationships with China and Mexico. The vote will insert a major new voice into Trump’s economic team, one that strongly influenced his criticism of the … Read more
The dollar recovered a little ground on Wednesday after recording its worst start to the year in three decades on concerns the United States was poised to ditch its two-decade-old “strong dollar” policy. The greenback skidded 2.6 percent against a basket of major peers .DXY in January, its worst showing since 1987. It fell first … Read more
U. S. stocks fell on Tuesday, dragged down by economic growth-sensible sectors, amid disappointing earnings and continued concern over the priorities of the Trump administration. Technology and financials were the sectors that weighed the most on the S&P 500 while healthcare helped cut losses. U.S. President Donald Trump met with top executives from some of … Read more
U. S. stocks extended losses in late morning trade on Tuesday, weighed down by technology and industrial stocks, amid disappointing earnings and weak consumer confidence data. The selling comes a day after Wall Street suffered its worst day of 2017, as investors turned wary about the consequences of President Donald Trump’s isolationist policies such as … Read more
Billionaire Wilbur Ross, chosen by Donald Trump to help implement the president-elect’s trade agenda, earned his fortune in part by running businesses that have offshored thousands of U. S. jobs, according to Labor Department data attained by Reuters. As a high-stakes investor a decade ago, Ross specialized in turning around troubled manufacturing companies at a … Read more
When billionaire investor Wilbur Ross salvaged two North Carolina textile mills from bankruptcy in 2003 and 2004, one of the first things he did was head to Washington to immerse himself in trade law and policy. China’s accession to the World Trade Organization had unleashed a flood of textile imports across U. S. borders, and … Read more
The year-end stocks rally on the heels of the election of Donald Trump as U. S. president was built on expectations of reduced regulations, big tax cuts and a large fiscal stimulus. Now signs are emerging from the Trump camp that harsher trade policies that could jeopardize the honeymoon are likely in the offing, and … Read more
President-elect Donald Trump has big plans to save U. S. jobs. On Wednesday, Trump announced he is forming a new White House National Trade Council that has one goal: To stop the “exodus of jobs” to China, Mexico and other countries. The council is expected to “make American manufacturing great again.” It’s a tall order. … Read more
U. S. President-elect Donald Trump invited Philippines leader Rodrigo Duterte to the White House next year during a “very engaging, animated” phone conversation, a Duterte aide said on Friday, amid rocky relations between their two countries. A statement issued by Trump’s transition team, however, made no mention of an invitation. Trump’s brief chat with the … Read more
President-elect Donald Trump promised to bring jobs back to America’s Rust Belt by getting tough on Mexico and China. To do that, Trump threatens to use tariffs. His argument: if he makes doing business in China and Mexico too expensive, he’ll convince companies to bring their jobs back to states like Ohio, Michigan and Indiana. … Read more