Latest Economic policy News

FACT FOCUS: A look at Biden's economic policies related to rising prices

Jul. 18, 2024 00:02 AM EDT

WASHINGTON (AP) — President Joe Biden's economic policies have been slammed by several speakers at the Republican National Conference. But some of the criticism was off base. Here's a look at the facts. ___ North Carolina Gov. Doug Burgum on the...

China's economy slowed in the last quarter as weak consumer demand dragged on growth

Jul. 15, 2024 00:42 AM EDT

BANGKOK (AP) — China's economy expanded at a slower-than-forecast 4.7% annual rate in the last quarter, the government reported Monday, while emphasizing signs of improvement in factory output, income and investment. The expansion was sharply below the 5.3% annual pace of growth...

China’s exports grow 8.6% in June, beating forecasts despite trade tensions

Jul. 12, 2024 03:40 AM EDT

HONG KONG (AP) — China’s exports beat forecasts in June, customs data showed Friday, while imports grew less than expected. Exports grew 8.6% from the same time last year to hit $307.8 billion, according to data released by Chinese customs, beating estimates of about 7.4% to 8%...

Powell stresses message that US job market is cooling, a possible signal of coming rate cut

Jul. 10, 2024 12:48 PM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell on Wednesday reinforced a message that the Fed is paying growing attention to a slowing job market and not only to taming inflation, a shift that signals it's likely to begin cutting interest rates soon. “We’re not just an...

EU commission approves Lufthansa purchase of long-troubled Italian airline ITA, with conditions

Jul. 03, 2024 09:49 AM EDT

MILAN (AP) — The European Commission on Wednesday approved Lufthansa’s takeover of Italian airline ITA with conditions to protect competition in a deal that Italy's finance minister called “historic.” Lufthansa will invest 325 million euros ($350 million) to acquire a 41%...

China's premier slams trade tensions as EV exports are hit by tariffs

Jun. 25, 2024 13:33 PM EDT

TAIPEI, Taiwan (AP) — Open markets and green technologies are vital for stabilizing global growth, China's premier said Tuesday, while criticizing trade tensions as he opened a conference in northeastern China. Premier Li Qiang told political and business leaders attending the...

EU criticizes France for excessive debt, putting pressure on Macron during election campaign

Jun. 19, 2024 10:08 AM EDT

BRUSSELS (AP) — The European Union's executive arm on Wednesday criticized France for running up excessive debt, a stinging rebuke at the height of an election campaign where President Emmanuel Macron is facing a strong challenge from the extreme right and the left. The EU...

Cyprus says no let-up to fiscal discipline course as S&P raises country's credit rating to BBB+

Jun. 15, 2024 04:52 AM EDT

NICOSIA, Cyprus (AP) — Cyprus said Saturday it won’t let up on a course of strict fiscal discipline while supporting economically vulnerable groups and the middle class after credit ratings agency Standard & Poor''s upgraded the country’s rating to BBB+ from BBB. Cypriot...

Trump or Biden? Either way, US seems poised to preserve heavy tariffs on imports

May. 21, 2024 06:47 AM EDT

WASHINGTON (AP) — As president, Donald Trump imposed a 25% tariff on foreign steel, which hurt Clips & Clamps Industries, a Michigan auto supplier — raising its materials prices, making it harder to compete with overseas rivals and costing it several contracts. Jeff...

Biden hikes tariffs on Chinese EVs, solar cells, steel, aluminum — and snipes at Trump

May. 14, 2024 17:45 PM EDT

WASHINGTON (AP) — President Joe Biden slapped major new tariffs on Chinese electric vehicles, advanced batteries, solar cells, steel, aluminum and medical equipment on Tuesday, taking potshots at Donald Trump along the way as he embraced a strategy that's increasing friction between the world's...