Latest Economic policy News

Facing Trump's tariffs, some companies move, change or wait

Jul. 18, 2019 10:36 AM EDT

WASHINGTON (AP) — Some are moving factories out of China. Others are strategically redesigning products. Some are seeking loopholes in trade law or even mislabeling where their goods originate — all with the goal of evading President Donald Trump's sweeping tariffs on goods from China. But most of...

Facing Trump's tariffs, some companies move, change or wait

Jul. 18, 2019 10:31 AM EDT

WASHINGTON (AP) — Some are moving factories out of China. Others are strategically redesigning products. Some are seeking loopholes in trade law or even mislabeling where their goods originate — all with the goal of evading President Donald Trump's sweeping tariffs on goods from China. But most of...

Will a summer job burn your financial aid for college?

Jul. 18, 2019 10:31 AM EDT

Roughly one-third of teenagers have summer jobs, according to the Pew Research Center. Some of these jobs may make you very familiar with the letters "SPF." But every working student should know a different abbreviation to avoid getting burned: EFC. While you may be working to help pay for college, the money you...

South Korean political parties back Moon in Japan trade row

Jul. 18, 2019 10:23 AM EDT

SEOUL, South Korea (AP) — Setting aside their usual bickering, South Korean liberal and conservative parties on Thursday vowed to cooperate to help the Seoul government prevail in an escalating trade row with Japan. After a meeting between the parties' leaders and South Korean President Moon Jae-in at...

Facebook's Libra gets stark warning from G-7 finance chiefs

Jul. 18, 2019 10:14 AM EDT

CHANTILLY, France (AP) — Finance chiefs from the Group of Seven rich democracies issued a stark warning on Thursday that cryptocurrencies like Facebook's Libra should not be allowed before "serious regulatory and systemic concerns" are put in check. France, which this year chairs the G-7 gatherings on...

Bitcoin craze hits Iran as US sanctions squeeze weak economy

Jul. 18, 2019 8:15 AM EDT

TEHRAN, Iran (AP) — Iranians feeling the squeeze from U.S. sanctions targeting the Islamic Republic's ailing economy are increasingly turning to such digital currencies as Bitcoin to make money, prompting alarm in and out of the country. In Iran, some government officials worry that the energy-hungry...

Global stocks mostly slide on trade war fears

Jul. 18, 2019 7:34 AM EDT

BEIJING (AP) — Global stock markets mostly fell on Thursday after U.S. President Donald Trump said he could impose more tariffs on Chinese goods and Japan's exports tumbled. Benchmarks in London, Frankfurt, Shanghai and Tokyo all declined, as did Wall Street futures. Trump alarmed investors by saying he...

South Korea's central bank lowers rate amid Japan trade row

Jul. 18, 2019 3:25 AM EDT

SEOUL, South Korea (AP) — South Korea's central bank on Thursday cut its policy rate for the first time in three years to shore up growth threatened by a trade dispute with Japan. The Bank of Korea lowered its key interest rate by a quarter percentage point to 1.50% following a meeting of its monetary...

Asian stocks follow Wall Street lower on trade war fears

Jul. 17, 2019 11:46 PM EDT

BEIJING (AP) — Asian stock markets on Thursday followed Wall Street lower after President Donald Trump reignited trade fears by saying he could impose more tariffs on Chinese imports. Benchmarks in Shanghai, Tokyo, Hong Kong and Sydney all declined. Oil rebounded from the previous day's losses. Trump...

Brazil's Bolsonaro: Make South America Great Again

Jul. 17, 2019 5:43 PM EDT

SANTA FE, Argentina (AP) — Brazilian President Jair Bolsonaro urged his South American colleagues Wednesday to borrow a slogan from Donald Trump and focus on making their own nations great rather than emphasizing regional brotherhood. "We don't want a 'Great homeland,'" the far-right Bolsonaro said at a...