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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%.
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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.
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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.
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5 days ago | 
cbsnews.com | Mary Cunningham |Alain Sherter
President Trump signaled Friday that the U.S. may be open to lowering tariffs on China. "80% Tariff on China seems right!" he wrote on Truth Social, his social media platform. "Up to Scott B."The conciliatory tone of Mr. Trump's post comes as Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer are scheduled to meet with Chinese negotiators this weekend in Switzerland.
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5 days ago | 
cbsnews.com | Megan Cerullo |Alain Sherter
Steep new U.S. tariffs on imports are rattling businesses large and small, with many companies planning to absorb the higher costs by hiking prices for customers. Not footwear company Keen. Although the midsize company, based in Portland, Oregon, operates in an industry that is highly exposed to tariffs, Keen tells customers that it will keep prices steady this year no matter how tariffs affect its costs.
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6 days ago | 
cbsnews.com | Mary Cunningham |Alain Sherter
Trump announces U.K. trade agreement President Trump claims that other countries and exporters to the U.S. will largely pick up the cost of tariffs. Yet recent data shows that companies are moving to pass along those added expenses to American consumers, threatening to push up prices.
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6 days ago | 
cbsnews.com | Aimee Picchi |Alain Sherter
President Trump's proposed budget for next year could include big changes for a small food aid program that helps low-income senior citizens supplement their diets. Under the plan, funding for the program — called the Commodity Supplemental Food Program (CSFP) — would be cut, and seniors instead would receive what the Trump administration is calling "MAHA food boxes" filled with products sourced directly from farmers.
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1 week ago | 
cbsnews.com | Megan Cerullo |Alain Sherter
Ford Motor on Wednesday said it is raising prices on three models produced in Mexico, pointing to higher U.S. tariffs on imported vehicles as one reason for the adjustment. The vehicles subject to the price increases of up to $2,000 per model include the Maverick, Bronco Sport and Mach-E, Ford said in a statement to CBS News. The price hikes apply only to imported vehicles that were built after May 2. Those models are expected to arrive dealership lots in late June.
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1 week ago | 
cbsnews.com | Aimee Picchi |Alain Sherter
When will the Fed be likely to lower rates? The Federal Reserve said Wednesday it is leaving its benchmark interest rate unchanged, resisting pressure from President Trump to lower U.S. borrowing costs as policy makers assess the economic impact of his trade policies. By the numbersThe Fed said it will maintain the federal funds rate at its current range of 4.25% to 4.5%, where it's been parked since the central bank last moved to lower short-term rates in December.
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1 week ago | 
cbsnews.com | Megan Cerullo |Alain Sherter
WeightWatchers has filed for bankruptcy as more Americans turn to weight loss drugs to slim down. The 62-year-old weight loss program's parent company, WW International, announced Tuesday that it aims to eliminate $1.1 billion in debt as part of the Chapter 11 filing and to focus on expanding its fledgling telehealth business. Services to WeightWatchers customers will continue uninterrupted, the company said.
