Latest International trade News

Norfolk Southern CEO optimistic about 2025 after solid fourth quarter

Jan. 29, 2025 19:13 PM EST

Norfolk Southern's solid fourth quarter — combined with the optimism the railroad is hearing from their customers and support they're getting from Washington D.C. — has the CEO feeling optimistic about 2025. The railroad, based in Atlanta, earned $733 million, or $3.23 per share,...

Fed hold rates steady, sees inflation as 'elevated,' as Powell declines comment on Trump

Jan. 29, 2025 18:26 PM EST

WASHINGTON (AP) — The Federal Reserve left its benchmark interest rate unchanged Wednesday after cutting it three times in a row last year, a sign of a more cautious approach as the Fed seeks to gauge where inflation is headed and what policies President Donald Trump may pursue. ...

Trump's Commerce Secretary nominee, Howard Lutnick, vows to sell his business interests in 90 days

Jan. 29, 2025 12:33 PM EST

WASHINGTON (AP) — Billionaire financier Howard Lutnick, President Donald Trump's choice to lead the Commerce Department, said Wednesday that he would sell all of his business holdings within 90 days. “I will divest, I will sell all of my interests, my business interests, all of...

General Motors swings to fourth quarter loss on toughening China conditions, but tops expectations

Jan. 28, 2025 13:04 PM EST

General Motors swung to a loss in the fourth quarter on an increasingly difficult environment in China, but still topped profit and revenue expectations on Wall Street. The automaker is also taking a proactive approach with the United States government on regulations and doling out generous...

What are tariffs and how do they work?

Jan. 27, 2025 16:21 PM EST

WASHINGTON (AP) — Tariffs are in the news at the moment. Here's what they are and what you need to know about them: Tariffs are a tax on imports Tariffs are typically charged as a percentage of the price a buyer pays a foreign seller. In the United States, tariffs are...

Just in time for Valentine's Day, trade dispute with Colombia threatens flower imports

Jan. 27, 2025 16:06 PM EST

WASHINGTON (AP) — President Donald Trump’s threat to impose a 25% tax on imports from Colombia comes at a most inauspicious time: The wrangling over the South American country's willingness to accept flights carrying deported immigrants is flaring up just three weeks before Valentine's Day, and...

5 economic forces that could shape the first year of Trump's presidency

Jan. 24, 2025 13:43 PM EST

WASHINGTON (AP) — Like most presidents, Donald Trump faces an economy that seldom bends to political ambitions. The Republican has promised strong growth, high tariffs, income tax cuts and booming oilfields. But despite the solid job market and low 4.1% unemployment rate, he has to...

Trudeau says Americans will pay more whenever Trump decides to impose tariffs on Canada

Jan. 23, 2025 22:23 PM EST

TORONTO (AP) — Outgoing Canadian Prime Minister Justin Trudeau said Thursday American consumers will pay more whenever President Donald Trump decides to apply sweeping tariffs on Canadian products. Trump told reporters in the Oval Office Thursday that he still plans to tariff...

Union Pacific and CSX both deliver solid results while preparing for possible impact of tariffs

Jan. 23, 2025 18:59 PM EST

OMAHA, Neb. (AP) — Both Union Pacific and CSX delivered solid results in the fourth quarter as the railroads prepared to deal with whatever challenges President Donald Trump’s administration or the economy might present this year. Trump's threat to impose tariffs on America's two...

Trump says he will 'demand' that interest rates come down, but it won't be that simple

Jan. 23, 2025 17:03 PM EST

WASHINGTON (AP) — President Donald Trump has pledged cheaper prices and lower interest rates, but an economy transformed by the pandemic will make those promises difficult to keep. Economic growth is solid, driven by healthy consumer spending. And budget deficits are huge and...