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2 weeks ago | 
cbsnews.com | Megan Cerullo |Anne Marie Lee
China on Wednesday raised tariffs on imports from the U.S. to 84%, the country's latest response in an escalating trade war with President Trump whose 104% tariff on Chinese goods also went into effect on Wednesday. The 84% tax will make it much more costly for Chinese companies to purchase and bring U.S.-made goods into the country, and could cut U.S. producers off from an important trade market.
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2 weeks ago | 
cbsnews.com | Aimee Picchi |Anne Marie Lee
The stock market slumped again on Wednesday as investors braced for more turmoil amid President Trump's growing trade war, which threatens to raise prices for U.S. consumers and blunt economic growth. The Dow Jones Industrial Average tumbled 320 points, or 0.8%, to 37,645 in early trading, while the broad-based S&P 500 slipped 0.1%. The tech-heavy Nasdaq composite index rose 0.3%.
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2 weeks ago | 
cbsnews.com | Megan Cerullo |Anne Marie Lee
Apple iPhones could become even pricier under President Trump's reciprocal tariffs on roughly 90 foreign nations, which are slated to take effect Wednesday.
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2 weeks ago | 
cbsnews.com | Megan Cerullo |Anne Marie Lee
Trump calls on tariff negotiations The U.S. will impose a 104% tariff on China beginning at 12:01 a.m. EST Wednesday, White House press secretary Karoline Leavitt said in a briefing Tuesday. Starting tomorrow, the White House will begin collecting steep levies on imported goods from China, as President Trump follows through on a threat issued on Truth Social Monday.
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2 weeks ago | 
cbsnews.com | Aimee Picchi |Anne Marie Lee
Trump sticks with tariffs amid market turmoil Stocks are set to rebound on Tuesday after investors suffered a three-day sell-off that wiped out trillions in market value amid anxieties about the economic impact of President Trump's wide-ranging reciprocal tariffs. S&P 500 futures rose 2.6% before the open of U.S. trade at 9:30 a.m., according to financial services firm FactSet.
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2 weeks ago | 
cbsnews.com | Aimee Picchi |Anne Marie Lee
Egg prices decrease, while gas prices in North Texas see overnight increase When announcing his latest round of tariffs on April 2, President Trump veered into the subject of eggs, noting that prices "dropped now 59%, and they're going down more, and the availability is fantastic." Wholesale egg prices — or the price paid by large buyers like grocery stores — have declined 43% since year start, with much of the decline occurring since Mr. Trump's Jan. 20 inauguration.
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2 weeks ago | 
cbsnews.com | Aimee Picchi |Anne Marie Lee
What to know about new tariffs on imports Employers across the U.S. added 228,000 jobs in March, pointing to a labor market that remains resilient despite economic headwinds from President Trump's tariffs and sticky inflation. The numbersEconomists expected that employers had hired 130,000 people last month, down from 151,000 additions in February, according to financial data firm FactSet.
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3 weeks ago | 
cbsnews.com | Anne Marie Lee |Alain Sherter
Ford Motor on Thursday announced that it would allow car shoppers to buy its 2024-25 vehicles, including gas, electric and hybrid-powered models, at the discounted price the automaker offers to its employees. Called "From America, For America," the promotion was unveiled on the same day a new 25% U.S. tariff on foreign vehicles took effect.
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3 weeks ago | 
cbsnews.com | Aimee Picchi |Anne Marie Lee
Protesters criticize health agency cuts Layoffs across the U.S. surged 205% in March when compared with a year earlier, with last month's 275,240 job cuts fueled by widespread firings engineered by billionaire Elon Musk's Department of Government Efficiency, or DOGE, according to outplacement firm Challenger, Gray & Christmas. March's layoffs represent the third-highest monthly total ever recorded, Challenger said.
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3 weeks ago | 
cbsnews.com | Aimee Picchi |Anne Marie Lee
Trump tariffs are already felt at ports President Trump announced two new types of tariffs on April 2, or what he's calling "Liberation Day," aimed at erasing trade deficits between the U.S. and its trading partners. The two new tariffs are: A 10% universal import duty on all goods brought into the U.S.So-called reciprocal tariffs that will be applied to imports from 60 nations.
