Aimee Picchi

2 days ago | cbsnews.com | Alain Sherter |Aimee Picchi

Trump seems open to lowering tariff rate Stock futures soared after the U.S. and China on Monday announced a truce in their trade war by agreeing to suspend steep tariffs for 90 days. The U.S. reduced its levies on Chinese imports to 30% from as high as 145%, while China cut its tariffs on American goods to 10% from 125%.

5 days ago | yahoo.com | Aimee Picchi

Rich Trumka Jr., a commissioner of the Consumer Product Safety Commission until he was fired by President Trump on Thursday, said in a letter that his dismissal is illegal and that he plans to fight the action. "See you in court, Mr. President," Trumka wrote in a May 9 social media post that included a statement using the CPSC's official letterhead in which he describes his dismissal. The CPSC is an independent agency that regulates the safety of consumer products, from toys to appliances.

5 days ago | cbsnews.com | Aimee Picchi |Mary Cunningham |Alain Sherter

President Trump on Thursday hailed his new trade pact with the U.K. as a "maxed out deal" that will serve as a template for agreements with other nations. But some experts are taking a dimmer view, noting that the U.K. agreement suggests high tariffs are set to remain in place for the long term. Although the deal with Britain offers some concessions, a 10% tariff remains in place on U.K. imports.

5 days ago | cbsnews.com | Alain Sherter |Aimee Picchi

Investors remained cautious Friday as they wait to see if the Trump administration's efforts to cool trade tensions with key U.S. economic partners will bear fruit. Both the S&P 500 and tech-heavy Nasdaq Composite were roughly flat on Friday, while the Dow Jones Industrial Average fell 119 points, or 0.3%, to 41,249.

5 days ago | cbsnews.com | Aimee Picchi

Rich Trumka Jr., a commissioner of the Consumer Product Safety Commission until he was fired by President Trump on Thursday, said in a letter that his dismissal is illegal and that he plans to fight the action. "See you in court, Mr. President," Trumka wrote in a May 9 social media post that included a statement using the CPSC's official letterhead in which he describes his dismissal. The CPSC is an independent agency that regulates the safety of consumer products, from toys to appliances.