Latest Economic policy News
Trudeau says Americans will pay more whenever Trump decides to impose tariffs on Canada
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...
Trump says he will 'demand' that interest rates come down, but it won't be that simple
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...
Average rate on 30-year mortgage slips below 7% after climbing five weeks in a row
The average rate on a 30-year mortgage in the U.S. eased this week to just below 7%, its first decline after climbing five weeks in a row. The rate fell to 6.96% from 7.04% last week, mortgage buyer Freddie Mac said Thursday. A year ago, it averaged 6.69%. Borrowing...
Japan's exports hit record high, but trade deficit continues
TOKYO (AP) — Japan saw record-high exports last year, as its annual trade deficit declined 44% from the previous year, the Finance Ministry reported Thursday. The trade deficit, which measures the value of exports minus imports, totaled 5.3 trillion yen ($34 billion), according to...
Davos 2025: Trade, tariffs, AI and UN chief Guterres dominate World Economic Forum agenda
DAVOS, Switzlerand (AP) — U.N. Secretary-General António Guterres ratcheted up his warning about climate change and said the world’s thirst for fossil fuels is a “Frankenstein monster” that spares no one, while calling for greater attention to risks posed by artificial intelligence if its...
Trudeau says Canada will respond to US tariffs as Ontario's premier says Trump 'declared war'
TORONTO (AP) — Canada's outgoing prime minister and the leader of the country's oil rich province of Alberta are both confident Canada can avoid the 25% tariffs President Donald Trump says he will impose on Feb. 1. Justin Trudeau and Danielle Smith will argue that Canada is the...
Trump mistakes Spain for a member of the BRICS bloc and repeats the threat of massive tariffs
BARCELONA, Spain (AP) — U.S. President Donald Trump has apparently confused Spain for a member of the BRICS bloc of developing economies, causing some head-scratching and jitters over possible tariffs in Madrid. Spain is not in BRICS, whose initials stand for Brazil, Russia, India,...
Chicago prepares for deportation arrests targeting hundreds next week after Trump takes office
Federal immigration officers will target more than 300 people with histories of egregious, violent crimes after President-elect Donald Trump takes office Monday, an official said, marking his administration's initial attempt toward fulfilling his promise of large-scale deportations. ...
Resettlement agencies race to help refugees ahead of Trump's second term
NEW MILFORD, Conn. (AP) — Rogers Lopez knows just how lucky his family is as they settle into their furnished two-bedroom apartment in suburban Connecticut, just before President-elect Donald Trump takes office. Lopez, his wife Karina Cañizarez and their 5-year-old son Jesus are...
Mexico and EU revamp trade agreement days before Trump takes office with threat of tariffs
MEXICO CITY (AP) — Mexico and the European Union on Friday announced a revamped trade agreement that they said would substantially increase trade and investment, days before the inauguration of U.S. President-elect Donald Trump, who has threatened to slap sweeping tariffs on Mexico and other...
