Latest Economy News
Trump says 25% tariffs on Canada and Mexico coming on Feb. 1 as he signs several orders on economy
WASHINGTON (AP) — President Donald Trump said Monday that he expects to put 25% tariffs on Canada and Mexico starting on Feb. 1, while declining to flesh out his plans for taxing Chinese imports. Trump made the announcement in response to reporters' questions while signing...
IMF sees steady global growth, but warns that Trump tariff, tax and deportation plans cloud outlook
WASHINGTON (AP) — The International Monetary Fund expects the world economy to grow a little faster and inflation to keep falling this year. But it warned that the outlook is clouded by President-elect Donald Trump’s promises to slash U.S. taxes, impose tariffs on foreign goods, ease...
IMF sees steady global growth, but warns that Trump tariff, tax and deportation plans cloud outlook
WASHINGTON (AP) — The International Monetary Fund expects the world economy to grow a little faster and inflation to keep falling this year. But it warned that the outlook is clouded by President-elect Donald Trump’s promises to slash U.S. taxes, impose tariffs on foreign goods, ease...
China's economy expands 5% in 2024, hitting target helped by strong exports, stimulus measures
HONG KONG (AP) — China's economy expanded at a 5% annual pace in 2024, slower than the year before but in line with Beijing’s target of “around 5%” growth, thanks to strong exports and recent stimulus measures. The economy picked up speed in the last quarter, the government...
World Bank says the global is economy is growing steadily, but not fast enough to help ease poverty
WASHINGTON (AP) — The global economy is growing steadily in the face of war, protectionist trade policies and high interest rates. It just isn’t growing fast enough to bring relief to the world’s poorest, the World Bank said Thursday in its latest assessment of the global economy. ...
Why are interest rates rising when the Fed has been cutting them?
NEW YORK (AP) — What’s shaking Wall Street seems so backwards. Swings in the bond market recently sent the yield on the 10-year Treasury above 4.80% and its highest level since 2023. That's injected nervousness into the U.S. stock market and knocked indexes off their records. ...
Germany's economy shrank for the second consecutive year in 2024
BERLIN (AP) — Germany's economy shrank for the second straight year in 2024 as worried consumers held back on spending and Chinese competition ate into the country's traditional exports of cars and industrial machinery. The year's weak performance underlines Germany's status as...
Rising borrowing costs batter UK government and threaten to derail its left-leaning program
LONDON (AP) — Britain’s new government, which is already facing anger over higher taxes, unpopular spending decisions and political scandals just six months after taking office, is now being battered by rising borrowing costs that threaten to derail its left-leaning program. The...
Surging job market could prove costly for households, businesses as odds of quick rate cuts fade
WASHINGTON (AP) — U.S. job growth surged and unemployment fell last month, an unexpected show of strength that may prove costly to homebuyers and businesses who were counting on sharply lower interest rates to lower the cost of buying everything from refrigerators to homes. ...
Stock market today: Wall Street recoils after good news on the economy raises inflation worries
NEW YORK (AP) — U.S. stocks fell Friday on worries that good news on the job market may be too good and prove to be bad for Wall Street by keeping inflation and interest rates high. The S&P 500 tumbled 1.5% to close its fourth losing week in the last five. The Dow Jones...