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By Ramishah Maruf, CNN New York (CNN) — President Donald Trump last week suspended a global trade loophole allowing smaller parcels into America duty-free. This closes a backdoor into the United States for Chinese mega-shippers like Shein and Temu, who could potentially pass the cost of those duties down to consumers. Trump eliminated the so-called

By Tami Luhby, CNN (CNN) — Ever since President Donald Trump started promising to slap tariffs on pharmaceutical imports, drugmakers have unveiled a flurry of commitments to build or expand US manufacturing operations in the coming years. AstraZeneca is investing $50 billion to expand its drug manufacturing in the US. Johnson & Johnson is pouring

By Auzinea Bacon, CNN (CNN) — Warren Buffett’s Berkshire Hathaway on Saturday reported operating earnings for the second quarter fell 3.79% from the same time last year. It’s the company’s first earnings report since Buffett, 94, announced his plans to step down as chief executive at the end of the year and named Greg Abel,

By Jordan Valinsky, CNN New York (CNN) — In 1986, Doritos released “Cool Ranch” chips, which has since became one of the brand’s most popular flavors, selling tens of millions of bags and spawning spinoffs from taco shells to popcorn. Nearly 40 years later, the PepsiCo-owned tortilla chips maker thinks it’s found the next big

By Bryan Mena, CNN Washington (CNN) — A member of the Federal Reserve’s Board of Governors announced Friday that she is resigning several months before the end of her term, handing President Donald Trump an early opportunity to fill a key vacancy. Fed Governor Adriana Kugler is stepping down from her role, effective August 8.

By Reuters (CNN) — A Florida jury on Friday found Tesla liable in the 2019 fatal crash of an Autopilot-equipped Model S, and ordered Elon Musk’s automaker to pay $329 million to the family of a deceased woman and an injured survivor. Jurors in Miami federal court ordered Tesla to pay $129 million in compensatory

By Kit Maher, Matt Egan, Alicia Wallace, CNN (CNN) — President Donald Trump has fired Dr. Erika McEntarfer, the commissioner of the Bureau of Labor Statistics, whom he accused, without evidence, of manipulating the monthly jobs reports for “political purposes.” The BLS’ monthly labor report Friday showed that the US economy added only 73,000 jobs

By Liam Reilly, Brian Stelter, CNN (CNN) — The Corporation for Public Broadcasting announced on Friday that it will wind down its operations due to the successful Republican effort to defund local PBS and NPR stations across the country. The announcement came just over a week after President Donald Trump enacted a rescissions bill clawing

By Elisabeth Buchwald, CNN (CNN) — President Donald Trump has said that tariffs won’t lead to higher prices. But the United States economy seems to disagree: Inflation, which has remained fairly tame, is slowly creeping up because of tariffs. Trump’s latest round of higher taxes on imports, which went into effect Thursday, will immediately make

By Rachel Wilson, Annette Choi, Anna Cooban, CNN (CNN) — President Donald Trump has once again announced new tariffs for just about every country in the world, further upending the landscape of global trade. Starting August 7, the United States will impose a 10% “universal” levy on imported goods from countries with which it has

By John Towfighi, CNN New York (CNN) — Stocks across the globe closed lower Friday after President Donald Trump unveiled his plan for levying tariffs on trading partners, threatening to upend decades of international cooperation. The Dow tumbled 542 points, or 1.23%. The broader S&P 500 fell 1.6% and the tech-heavy Nasdaq Composite slipped 2.24%.

By Alicia Wallace, CNN (CNN) — The US job market slowed sharply in July and was substantially weaker than first estimated for prior months, suggesting President Donald Trump’s trade policy may be stifling hiring. The US economy added just 73,000 jobs last month, and the monthly totals for May and June were revised down by

By Elisabeth Buchwald, CNN (CNN) — President Donald Trump just set new tariffs for every country around the world, solidifying his extreme break with America’s long-standing trade policy. Tariffs on the vast majority of goods America imports are set to rise – even from the handful of countries that negotiated individual trade deals. The higher

CNN, POOL, SEE PREFONTS By Elisabeth Buchwald, CNN (CNN) — President Donald Trump just set new tariffs for every country around the world, solidifying his extreme break with America’s long-standing trade policy. Tariffs on the vast majority of goods America imports are set to rise – even from the handful of countries that negotiated individual

By Lisa Eadicicco, CNN (CNN) — Apple reported strong iPhone sales and rebound in revenue from China, giving a much-needed boost to two parts of the company’s business that had struggled over the past year. That better-than-expected performance reassured Wall Street investors that key parts of its business are holding steady as Apple struggles to

By Phil Mattingly, CNN (CNN) — In the end, President Donald Trump got exactly what he wanted. The 120 days since Trump’s Rose Garden “Liberation Day” announcement rocked financial markets weren’t exactly pretty. From the Washington to Wall Street and across foreign capitals far and wide, seemingly every day featured a disorienting burst of TACOs

By Matt Egan, CNN New York (CNN) — President Donald Trump met at the White House last week with a powerful business leader he’s repeatedly clashed with in the past: JPMorgan Chase CEO Jamie Dimon. During the Oval Office meeting, Trump and Dimon discussed the economy, trade, financial regulation and the Federal Reserve, a person

By Elisabeth Buchwald, CNN (CNN) — President Donald Trump announced on Thursday he’s extending the existing tariffs with Mexico, America’s largest trading partner, and he will pause higher tariffs that were set to go into effect Friday. That means the status quo will continue, in which goods from Mexico are taxed at 25%, unless they