Latest Economic policy News

Reports: HUD failed to track lead paint cases, ensure fixes

Jun. 22, 2018 9:26 PM EDT

WASHINGTON (AP) — Two federal reports released this month blast the Department of Housing and Urban Development for failing to have procedures to adequately protect children in subsidized housing against lead paint exposure. The reports, from the Government Accountability Office and HUD's Office of...

From boat makers to farmers, US-led tariff war inflicts pain

Jun. 22, 2018 5:27 PM EDT

WASHINGTON (AP) — A Florida boat builder absorbs $4 million in lost business and expects more pain. An Ohio pork producer is losing access to a vital export market and fears the damage will last years. A motorcycle shop near Cologne, Germany, wonders if it even has a future. A brawl that the United States...

US stocks finish mostly higher as energy companies climb

Jun. 22, 2018 4:58 PM EDT

NEW YORK (AP) — Oil prices and energy companies rallied Friday after OPEC said it will produce more oil, but not as much as investors feared. While trade tensions remained in the headlines, U.S. stocks finished slightly higher at the end of a bumpy week. U.S. crude futures jumped 4.6 percent after OPEC...

The Latest: Auto trade group decries Trump's tariff threat

Jun. 22, 2018 3:24 PM EDT

WASHINGTON (AP) — The Latest on America's disputes with its trading partners (all times local): 3:05 p.m. A trade association representing a dozen automakers doing business in the United States says President Donald Trump's threat to slap 20 percent tariffs on vehicles imported from Europe is "not the...

OPEC agrees to pump more oil but crude prices jump anyway

Jun. 22, 2018 2:59 PM EDT

VIENNA (AP) — The countries of the OPEC cartel agreed on Friday to pump 1 million barrels more crude oil per day, a move that should help contain the recent rise in global energy prices. Questions remain, however, over the ability of some OPEC nations — Iran and Venezuela in particular — to...

EU imposes tariffs on US peanuts, motorcycles and whiskey

Jun. 22, 2018 11:42 AM EDT

BRUSSELS (AP) — The European Union started enforcing tariffs Friday on American imports like bourbon, peanut butter and orange juice, part of a growing global trade rift that's likely to intensify over the next few weeks. The EU tariffs on $3.4 billion worth of U.S. products are in retaliation for duties...

South Korean president in Russia to boost economic ties

Jun. 22, 2018 10:20 AM EDT

MOSCOW (AP) — South Korean President Moon Jae-in visited Moscow Friday on a trip intended to boost bilateral economic ties. Following Moon's talks with Russian President Vladimir Putin in the Kremlin, officials from the two countries signed agreements on cooperation in various economic projects, energy,...

Kentucky governor downplays effect of EU tariffs on bourbon

Jun. 22, 2018 8:55 AM EDT

LOUISVILLE, Ky. (AP) — In comments at odds with his home state's whiskey distillers, Kentucky's Republican governor is downplaying fears that the European Union's retaliatory tariffs could disrupt the booming market for the Bluegrass state's iconic bourbon industry. "There's always the potential for some...

Global markets, oil rise as OPEC mulls output increase

Jun. 22, 2018 8:01 AM EDT

SEOUL, South Korea (AP) — Global stocks and oil prices were higher Friday as investors monitored OPEC's discussion on increasing crude production. Caution remained, however, over trade disputes between China and the U.S. as well as between the U.S. and Europe that could hurt corporate profits and jobs....

Trump jabbed first, and now world hits back in trade fight

Jun. 22, 2018 2:39 AM EDT

WASHINGTON (AP) — The United States attacked first, imposing tariffs on steel and aluminum from around the globe and threatening to hit tens of billions of dollars in Chinese products. Now, the world is punching back. The European Union is set Friday to slap tariffs on $3.4 billion in American products,...