Money

By John Towfighi, CNN New York (CNN) — US stocks fell Wednesday as Federal Reserve Chair Jerome Powell warned that President Donald Trump’s tariffs are unprecedented in modern history, with effects that “remain highly uncertain.” The Dow tumbled 700 points, or 1.73%. The broader S&P 500 fell 2.24%. The tech-heavy Nasdaq Composite tumbled 3.07%. “The

By Bryan Mena, CNN Washington (CNN) — President Donald Trump’s significant policy changes, including on tariffs, are unlike anything seen in modern history, putting the Federal Reserve in uncharted waters, Chair Jerome Powell said Wednesday. “These are very fundamental policy changes,” Powell said at an event hosted by the Economic Club of Chicago. “There isn’t

By Lisa Eadicicco, CNN New York (CNN) — Those shopping for a new smartphone or computer may be spared from tariff-induced sticker shock. At least, for now. President Donald Trump issued a memorandum on April 11 saying certain electronics — including computers, smartphones and some components — won’t be subject to the reciprocal tariffs imposed

By Anna Cooban, CNN London (CNN) — President Donald Trump’s global trade war will hurt economies around the world this year, including the US, according to a new report by the World Trade Organization. The WTO projects global economies will grow more slowly than they would without tariffs — and that will be especially the

By Jordan Valinsky, CNN New York (CNN) — The collapse of Party City is giving Michaels an opportunity to expand its selection of balloons and other celebration-themed supplies. Michaels, the retailer best known for selling arts and crafts supplies, announced Tuesday that it’s expanding its party supply offerings with the addition of 300 new balloon

By Brian Stelter, CNN (CNN) — America’s two biggest public broadcasters, PBS and NPR, are facing an up-or-down vote over their federal funding for the first time in decades. The Trump administration sees it as a worthwhile cultural fight, casting PBS and NPR as wastes of money that “spread radical, woke propaganda disguised as ‘news’”

By Tami Luhby, CNN (CNN) — President Donald Trump’s promise to impose tariffs on pharmaceutical imports is raising red flags among generic drugmakers and industry experts, who warn that such a move could lead to increased drug shortages and higher prices. Generic drug manufacturers have had to contend with increasing competition and tight profit margins

By Ramishah Maruf, CNN New York (CNN) — China is taking the trade war to a new battleground: America’s TikTok feeds. Chinese suppliers have been flooding American social media this week, urging users to outflank President Donald Trump’s 145% tariffs on Beijing by buying directly from their factories. One TikTok user, who goes by Wang

By Nathaniel Meyersohn, CNN New York (CNN) — President Donald Trump is using tariffs to disrupt nearly everything about the global trade order. Except for a tariff policy that favors men over women. For decades, the US tariff system has taxed women’s clothing more heavily than men’s. Tariffs on women’s clothing are currently about three

By Bryan Mena, CNN Washington (CNN) — Spending at US retailers skyrocketed last month at the strongest monthly pace in more than two years as Americans rushed to beat President Donald Trump’s massive tariff hikes. Retail sales climbed 1.4% in March from the prior month, the Commerce Department said Wednesday, up from February’s 0.2% gain

By John Liu, John Towfighi and Anna Cooban, CNN (CNN) — Nvidia is caught in the middle of an escalating trade war between the world’s two largest economies. Nvidia on Tuesday said it will take a $5.5 billion financial hit after Washington placed fresh restrictions on the export of its H20 artificial intelligence chips to

By Christian Edwards, CNN London (CNN) — Britain’s parliament is only recalled at times of national crisis. But when lawmakers were brought back from their Easter vacation last weekend, the cause was not a war, terror attack or the death of a monarch – but the potential closure of a steel plant in northern England.

By Juliana Liu and John Liu, CNN Hong Kong (CNN) — China has posted unexpectedly strong economic growth in the first three months of 2025, before the full force of US President Donald Trump’s tariffs took effect, and sent an upbeat message about how it plans to weather an ongoing trade war with Washington. Growth

By Chris Lau, CNN Hong Kong (CNN) — Hong Kong’s postal service will stop handling packages coming from or going to the United States, in the latest retaliatory move amid an escalating trade war between Washington and Beijing. In a statement published Wednesday announcing the decision, the government of Hong Kong cited US President Donald

By Brian Stelter and Samantha Waldenberg, CNN (CNN) — Instead of restoring access to The Associated Press newswire, as required by a federal judge, the Trump administration is removing the wire position in the daily press corps rotation altogether. The change appears designed to withstand legal scrutiny while still disadvantaging The AP, which was singled

By Ramishah Maruf, CNN New York (CNN) — It’s no secret that since the Supreme Court’s decision in the Citizens United v. FEC, deep-pocketed donors and super PACS have poured money, and influence, into politics. Regarding the uber-wealthy people who have entered positions of power in the country in an interview with CNN’s Abby Phillip

By James Frater and Olesya Dmitracova, CNN London (CNN) — The European Union has announced it will impose retaliatory tariffs on American toilet paper, soybeans, eye makeup and hundreds of other products if trade negotiations with the United States aren’t successful. The bloc of 27 countries published Monday a long list of US products, most

By Alicia Wallace, CNN (CNN) — President Donald Trump is forging ahead with his aggressive tariff campaign, moving on from “reciprocal” tariffs to the sector-specific tariffs he promised. To do so will involve Trump’s continued application of Section 232 of the Trade Expansion Act of 1962, which allows a president to impose tariffs to protect

By Chris Isidore, CNN (CNN) — Shares of Boeing fell Tuesday following a report that China has halted the delivery of all its jets to airlines in the country as part of an escalating trade war that has enveloped the world’s two biggest economies. Boeing (BA), a component of the Dow Jones Industrial Average, fell

By Nectar Gan and John Liu, CNN Hong Kong (CNN) — Less than a year into Donald Trump’s first trade war with China, Chinese leader Xi Jinping made a high-profile visit to an unassuming factory in Ganzhou, an industrial city nestled among rolling hills in the country’s southeast. Touring its exhibition hall in 2019, Xi