Economy

Donald Trump’s tariff Tantrums tank Tesla Stock, Elon Musk’s money falls below $ 300 billion for the first time since November. Company trade news

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According to data from the Bloomberg Billionaires Index, Tesla Stock, Tesla Stock, Tesla Stock, the United States President Donald Trump, topped the assets of his nearest colleague Elon Musk for the first time since November 2024. While Elon Musk remains the world’s richest man, all the benefits made since Donald Trump’s election victory last year … Read more

China’s fuel demand may have passed its peak, IEA says

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London —  China’s demand for road and air transport fuels may have passed its peak, the International Energy Agency (IEA) said Thursday, citing data showing that the country’s consumption of gasoline, gasoil and jet fuel declined marginally in 2024. Combined consumption of the three fuels in China last year was at 8.1 million barrels per … Read more

Trump pushes for lower interest rates alongside tariffs

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WASHINGTON —  As his trade advisers finalized plans to enact reciprocal measures on every country that charges duties on U.S. imports, President Donald Trump announced Wednesday he will push for lower interest rates alongside his tariff policies. “Interest Rates should be lowered, something which would go hand in hand with upcoming Tariffs!!! Lets Rock and … Read more

Cost of groceries, gas goes up as US inflation worsens

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WASHINGTON —  U.S. inflation accelerated last month as the cost of groceries, gas and used cars rose, a disappointment for families and businesses struggling with higher costs and likely underscoring the Federal Reserve’s resolve to delay any further interest rate cuts. The consumer price index increased 3% in January from a year ago, Wednesday’s report … Read more

EU, Canada vow to stand firm against Trump’s tariffs on metals

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The 27-nation European Union and Canada quickly vowed Tuesday to stand firm against U.S. President Donald Trump’s move to impose 25% tariffs on their steel and aluminum exports, verbal sparring that could lead to a full-blown trade war between the traditionally allied nations. “The EU will act to safeguard its economic interests,” European Commission President … Read more

Trump signs executive orders on steel, aluminum tariffs

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Washington —  President Donald Trump moved to substantially raise tariffs on steel and aluminum imports on Monday, canceling exemptions and duty-free quotas for major suppliers Canada, Mexico, Brazil and other countries in a move that could boost the risk of a multifront trade war. Trump signed proclamations that raised the tariff rate on aluminum imports … Read more

As tariffs take effect, Beijing and Washington look back to 2020 deal

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New Chinese tariffs on a range of U.S. goods went into effect Monday, following U.S. President Donald Trump’s decision to impose a 10% tariff on Chinese products last week. Tariffs of 25% on steel and aluminum are next. Despite the tariffs and rising tensions, both sides seem reluctant to launch into a full-on trade war, … Read more

Trump to announce 25% steel, aluminum tariffs in latest trade escalation

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ABOARD AIR FORCE ONE —  U.S. President Donald Trump said Sunday that he will announce on Monday new 25% tariffs on all steel and aluminum imports into the U.S., which would come on top of existing metals duties in another major escalation of his trade policy overhaul. Trump, speaking to reporters on Air Force One, … Read more

Soaring egg prices in US pique interest in backyard chickens

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NEW YORK —  Thinking about backyard chickens as egg prices soar? Think hard, especially in light of the bird flu outbreak. Keeping home chickens as a pastime has continued to grow since the pandemic. But if eggs are the goal, remember that it takes planning and investment to raise the chickens and protect against bird … Read more

China to roll back clean power subsidies after boom

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BEIJING —  China’s top economic planning agency said on Sunday it was taking steps to scale back subsidies for renewable energy projects after a boom in solar and wind power installations. China broke its own records for new solar installations in 2024 with installed capacity up 45% from the previous year. China now has almost … Read more