Tag Archives: donald trump

Americans increased spending tepidly last month as anxiety over the economy takes hold

Americans increased spending tepidly last month as anxiety over the economy takes hold

WASHINGTON (AP) — U.S. shoppers stepped up their spending just a bit in February after a sharp pullback the previous month, signaling that Americans are shopping more cautiously as concerns about the direction of the economy mount. Retail sales rose just 0.2% in February, a small rebound after a sharp drop of 1.2% in January, the Commerce Department said Monday. Sales rose at grocery stores, home and garden stores, and online retailers. Sales fell at auto dealers, restaurants, and electronics stores. The small increase suggests Americans may be growing more wary about spending as the stock market has plunged and President Donald Trump’s tariff threats and government spending cuts have led to widespread uncertainty among consumers and businesses.… Continue Reading

Trump orders strikes on Iran-backed Houthi rebels in Yemen and issues new warning

Trump orders strikes on Iran-backed Houthi rebels in Yemen and issues new warning

WEST PALM BEACH, Fla. (AP) — The Iran-backed Houthi rebels in Yemen say a series of airstrikes have hit the capital, Sanaa, on Saturday evening. U.S. President Donald Trump, in a social media post, says he ordered the airstrikes. The Houthis say 13 civilians have been killed. The airstrikes come a few days after the Houthis said they would resume attacks on Israeli vessels sailing in waters off Yemen in response to Israel’s blockade on Gaza. There have been no Houthi attacks reported since then. Images circulating online show plumes of black smoke over the area of the Sanaa airport complex, which includes a sprawling military facility.… Continue Reading

Trump signs a bill funding the government for 6 months, avoiding a shutdown

Trump signs a bill funding the government for 6 months, avoiding a shutdown

WASHINGTON (AP) — President Donald Trump has signed into law legislation funding the government through the end of September. His signature Saturday ends the threat of a partial government shutdown and caps off a struggle in Congress that deeply divided Democrats. The bill largely keeps government funding at levels set during Joe Biden’s presidency, though with changes. It trims non-defense spending by about $13 billion from the previous year and increases defense spending by about $6 billion. The Senate cleared the legislation on Friday in a 54-46 party line vote, with Democrats helping advance it despite problems with the bill.… Continue Reading

Wall Street tumbles after Trump escalates his trade war; S&P 500 sinks 1.2%, and Dow drops 500

Wall Street tumbles after Trump escalates his trade war; S&P 500 sinks 1.2%, and Dow drops 500

NEW YORK (AP) — Wall Street’s sell-off is accelerating after President Donald Trump upped the stakes in his trade war. Not even a double-shot of good news on the U.S. economy could stop the bleeding, and the S&P 500 fell 1.2% Thursday. The index is threatening to close more than 10% below its record, which would be its first such drop since 2023. The Dow Jones Industrial Average fell 507 points, and the Nasdaq composite lost 1.6%. Trump’s escalating trade war is raising worries about the economy’s strength, though reports came in better than expected during the morning on both inflation and joblessness in the United States.… Continue Reading

Trump threatens retaliatory 200% tariff on European wine after EU proposes American whiskey tax

Trump threatens retaliatory 200% tariff on European wine after EU proposes American whiskey tax

WASHINGTON (AP) — American retailers say President Donald Trump’s threatened 200% tariff on European wine would harm consumers. Holly Seidewand owns First Fill Spirits in New York state and says a tariff war hurts importers, distributors and retailers but “consumers will bear the brunt of it.” Ronnie Sanders is CEO of Vine Street Imports in New Jersey and says customers aren’t prepared to pay two or three times more for their favorite wine. Trump on Thursday called the EU among “the most hostile and abusive taxing and tariffing authorities.” Because of the Republican president’s threat, a previously untariffed $15 bottle of Italian Prosecco could cost $45. The European Commission says Europe wants to “negotiate to avoid tariffs.”… Continue Reading

US resumes military aid and intelligence sharing as Ukraine says it is open to a 30-day ceasefire

JEDDAH, Saudi Arabia (AP) — The Trump administration says it will immediately lift its suspension of military aid to Ukraine and intelligence sharing with Kyiv. The announcement came Tuesday, a week after the measures were imposed to push Ukrainian President Volodymyr Zelenskyy to enter talks to end the war with invading Russian forces. In a joint statement released following a lengthy day of talks between Ukraine and the United States in Saudi Arabia, Ukraine also said it was open to a 30-day ceasefire in the war with Russia, subject to Kremlin agreement. U.S. Secretary of State Marco Rubio and national security adviser Mike Waltz both said the discussions in Jeddah had been positive.… Continue Reading

Trump halts doubling of tariffs on Canadian metals, after Ontario suspends electricity price hikes

Trump halts doubling of tariffs on Canadian metals, after Ontario suspends electricity price hikes

WASHINGTON (AP) — President Donald Trump says he will double his planned tariffs on steel and aluminum from 25% to 50% for Canada. He’s escalating a trade war with the United States’ northern neighbor and standing unmoved by recent stock market turmoil and rising recession risks. Trump said on social media that the increase of the tariffs set to take effect on Wednesday is a response to the price hikes that the provincial government of Ontario put on electricity sold to the United States. That prompted Ontario on Tuesday to back down on its planned surcharges on electricity sold to the United States.… Continue Reading

Republicans are marching ahead with a government funding bill despite Democratic opposition

Republicans are marching ahead with a government funding bill despite Democratic opposition

WASHINGTON (AP) — House Speaker Mike Johnson says lawmakers “have to keep the government in operation” as Republicans face a critical test of their unity. A spending bill that would avoid a partial government shutdown and keep federal agencies funded through September is coming up for a vote. Vice President JD Vance visited Capitol Hill to rally support. Johnson is teeing up the bill for a vote as soon as Tuesday despite the lack of buy-in from Democrats, essentially daring them to vote against it and risk a shutdown that would begin Saturday if lawmakers fail to act. Some Senate Democrats are waiting on the House vote before taking their stand. President Donald Trump tells Republicans to “remain UNITED.”… Continue Reading

Stocks’ sell-off worsens as Wall Street wonders how much pain Trump will accept for the economy

Stocks’ sell-off worsens as Wall Street wonders how much pain Trump will accept for the economy

NEW YORK (AP) — Wall Street’s sell-off is worsening. The S&P 500 fell 2.2% Monday as worries build about how much pain President Donald Trump is willing to endure on the economy in order to get what he wants. The Dow Jones Industrial Average dropped 530 points, and the Nasdaq composite sank 3.6%. The losses follow the worst week for U.S. stocks since September on concerns that on-and-off-again tariffs will either hurt the economy directly or create enough uncertainty to freeze it. Elon Musk’s Tesla fell to one of the market’s sharpest losses, as did airlines and other companies that need U.S. shoppers feeling confident enough to spend.… Continue Reading

EPA froze ‘green bank’ funds worth billions, climate group suit says

EPA froze ‘green bank’ funds worth billions, climate group suit says

WASHINGTON (AP) — A nonprofit that was awarded nearly $7 billion by the Biden administration to finance clean energy and climate-friendly projects has sued the Environmental Protection Agency, accusing it of improperly freezing its account. Climate United Fund, a coalition of three nonprofit groups, demanded access to a Citibank account it received through the Greenhouse Gas Reduction Fund, a program created by the 2022 Inflation Reduction Act and more commonly known as the green bank. EPA Administrator Lee Zeldin has accused the Biden administration and fund recipients of misconduct and waste. Climate United said those allegations have no merit. Without access to their account, Climate United said it’s hard to issue loans or even pay staff.… Continue Reading

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