Latest Economic policy News
Biden vows to shield US steel industry by blocking Japanese merger and seeking new Chinese tariffs
PITTSBURGH (AP) — President Joe Biden suggested to cheering, unionized steelworkers on Wednesday that his administration would thwart the acquisition of U.S. Steel by a Japanese company, and he called for a tripling of tariffs on Chinese steel, seeking to use trade policy to win over...
Regulators pleased Union Pacific is using fewer temporary shipping limits
OMAHA, Neb. (AP) — Union Pacific dramatically reduced its use of temporary limits on some businesses' shipments over the past year after its customers complained, but regulators said Wednesday the railroad must go further to be in line with the other major freight railroads that rarely use such...
Justin Trudeau's government raises taxes on wealthiest Canadians in federal budget
OTTAWA, Ontario (AP) — Canadian Prime Minister Justin Trudeau ’s government announced Tuesday it is imposing higher taxes on the wealthiest Canadians as part of the federal budget. The budget proposes to increase the capital gains inclusion rate, which refers to the taxable...
China's economy grew 5.3% in first quarter, beating expectations, though weak spots remain
HONG KONG (AP) — China’s economy grew faster than expected in the first quarter of the year with help from policies and stronger demand, though signs of weakness in the troubled housing market persisted. The world’s second-largest economy expanded at a 5.3% annual pace in...
Debt, trade barriers and uncertainty will drag on Asian economies in 2024, World Bank report says
BANGKOK (AP) — Asian economies are not doing as well as they could and growth in the region is forecast to slow to 4.5% this year from 5.1% in 2023, the World Bank said in a report released Monday. Debt, trade barriers and policy uncertainties are dulling the region’s economic...
Chinese leader Xi issues a positive message at a meeting with US business leaders as ties improve
BEIJING (AP) — China’s nationalist leader, Xi Jinping, called for closer trade ties with the U.S. during a meeting on Wednesday with top American business leaders in Beijing that came amid a steady improvement in relations that had sunk to the lowest level in years. Xi emphasized...
Kimberly Palmer: 5 ways to calm financial stress
Financial stress is so common that certified financial planner Katie Lindquist says almost every client she has tells her they are feeling it. “They don’t know what they should be doing with their money, and they feel like they should know. They feel shame around their money...
Milei’s first 100 days: Argentines struggle to make ends meet as support for president remains high
BUENOS AIRES, Argentina (AP) — Sergio Gómez, a store owner in Buenos Aires, spends his days behind an empty counter, one nearly as empty as the large refrigerators in which he used to freeze meat. Above him, a blackboard displays outdated prices for the different cuts that he no longer sells. ...
The EU's new import deal would support Ukraine while protecting the bloc's farmers
BRUSSELS (AP) — European Union lawmakers agreed Wednesday to renew Ukraine’s import rates, which have been in place since shortly after Russia invaded, while adding protective measures for agricultural products such as grain and honey to address the concerns of farmers across the 27-nation...
The Bank of Japan ends its negative interest rate policy, opting for its first hike in 17 years
TOKYO (AP) — Japan’s central bank raised its benchmark interest rate Tuesday for the first time in 17 years, ending a longstanding policy of negative rates meant to boost the economy. The Bank of Japan's lending rate for overnight borrowing by banks was raised to a range of 0 to...
