The U.S. tariff rate on Chinese imports will surge to a record 104% at 12:01 a.m. ET on Wednesday, a White House official confirmed to CNBC. The announcement follows President Donald Trump’s Monday warning that he would raise existing tariffs on China by 50% unless Beijing

Higher reciprocal tariffs will go into effect tomorrow, US Trade Representative Greer has said. White House spokesperson Levitt confirmed that the United States has officially imposed an additional 50% tariff on Chinese imports, bringing the total tariff rate to an unprecedented 104%. Further trade restrictions are scheduled to take effect

White House spokesperson Levitt confirmed that the United States has officially imposed an additional 50% tariff on Chinese imports, bringing the total tariff rate to an unprecedented 104%. Further trade restrictions are scheduled to take effect tomorrow, April 9. The announcement follows through on President Donald Trump’s warning issued

Treasury Secretary Scott Bessent said Tuesday that the United States holds a significant advantage over China as the two nations escalate their trade dispute, arguing that Beijing's latest tariff response is a strategic misstep. “I think it was a big mistake, this Chinese escalation, because they’re playing

Democratic Senator Ron Wyden announced Tuesday that he will introduce a resolution to repeal the sweeping global tariffs announced by President Donald Trump last week, setting up a direct test of political support for the president’s escalating trade war. Wyden’s move would force Senate Republicans to publicly take

U.S. President Donald Trump said he had a “great call” with South Korea’s acting President Han Duck-soo on Tuesday, during which they discussed tariffs, shipbuilding, and potential energy deals, just one day before a planned 25% tariff on South Korean exports is set to take effect; Trump

Zelensky Claims Chinese Troops Are Fighting for Russia, Urges U.S. and Global Response Ukrainian President Volodymyr Zelensky has claimed that Chinese soldiers have joined Russia’s military campaign in Ukraine, calling for an international response—particularly from the United States. Speaking Tuesday, Zelensky said Ukrainian forces had encountered and

Elon Musk Urged Trump to Reverse Tariffs — But Was Unsuccessful, Report Says Tech billionaire and Tesla CEO Elon Musk made a direct appeal to President Donald Trump over the weekend in an effort to reverse newly announced tariffs, but the attempt was unsuccessful, The Washington Post reported Monday, citing two

Ken Griffin Slams Trump Tariffs as “Huge Policy Mistake,” Warns of Long-Term Harm to Families and U.S. Leadership Billionaire investor Ken Griffin criticized President Donald Trump’s latest round of tariffs, calling them a “huge policy mistake” and likening them to a heavy tax burden on American families.

Apple Looks to India as Trump’s Tariffs on China Push Costs Higher Apple is reportedly ramping up its iPhone production in India as a way to sidestep the steep tariffs imposed by President Donald Trump on Chinese goods, according to The Wall Street Journal. The potential shift would deal

U.S. Bans Romantic Relationships Between Government Personnel and Chinese Citizens The U.S. government has implemented a new policy prohibiting American officials in China—including government personnel, contractors with security clearances, and their family members—from engaging in romantic or sexual relationships with Chinese nationals, The Associated Press has

BlackRock CEO Larry Fink Warns of Potential 20% Market Drop, Says U.S. May Already Be in Recession BlackRock CEO Larry Fink said Monday that the stock market could still fall by another 20%, warning that the U.S. economy is showing clear signs of weakness. Speaking at the Economic

EU Proposes 25% Counter-Tariffs on U.S. Goods in Response to Trump’s Metal Duties The European Commission has put forward a proposal to impose 25% tariffs on a broad array of U.S. goods, in retaliation for President Donald Trump’s tariffs on steel and aluminium, according to

Treasury Secretary Outlines Plan to Shift Laid-Off Federal Workers Into Manufacturing Jobs Treasury Secretary Scott Bessent said the Trump administration intends to grow U.S. manufacturing employment by redirecting laid-off federal workers into factory jobs—part of a broader strategy combining steep import tariffs with a slimming down

Trump Warns of 50% Tariffs on China if Retaliatory Measures Aren’t Reversed Donald Trump has issued a stark warning to China: if it doesn’t roll back its recently imposed 34% retaliatory tariffs by Tuesday, the U.S. will respond by raising tariffs on Chinese goods by an additional

Market Turbulence Deepens Amid Recession Fears Tied to Trump’s Tariffs Financial markets are seeing another wave of intense volatility as investor anxiety mounts over the economic fallout from Donald Trump’s escalating trade war. In Europe, major indices are firmly in negative territory late in the session. London’s

Wild Swings Rock U.S. Markets as Volatility Surges On Monday morning, the S&P 500 experienced a dramatic whipsaw, dropping as much as 4.71% before swiftly reversing course and rallying up to 3.40% — all within roughly 35 minutes. This nearly 8-point intraday swing marked the

Global markets sank on Monday, intensifying a broader sell-off sparked by US President Donald Trump’s trade offensive and China’s forceful retaliation to surprise tariff hikes. Germany’s DAX dropped 9% at the open, while London’s FTSE 100 fell roughly 5%. European indices, overall, were holding up

Liberal Leader Mark Carney said Thursday that President Donald Trump’s sweeping tariffs on nearly every trading partner risk “rupturing the global economy,” undermining growth, and causing serious harm to workers and businesses both in Canada and around the world. Carney condemned the tariffs on Canadian exports as “unjustified, unwarranted,

Central Huijin Investment, a division of China’s US$1.2 trillion sovereign wealth fund, stepped in to buy exchange-traded funds (ETFs) on Monday, marking a direct intervention in the country’s stock market as it reels from the impact of retaliatory U.S. tariffs. The firm announced on

JPMorgan made the most dramatic revision to its S&P 500 outlook, slashing its year-end target from 6,500 to 5,200—a 20% cut. If realized, that would represent only a modest 2.48% gain from current levels. The firm also warned of a worst-case scenario

Extending the 2017 Tax Cuts and Jobs Act (TCJA), which is set to expire, would reduce federal tax revenue by an estimated $4.5 trillion between 2025 and 2034. Over the long term, GDP would increase by about 1.1%, offsetting approximately $710 billion—or 16%—of the lost revenue.

Thailand is implementing a temporary ban on short selling and introducing tighter trading rules in an effort to contain market volatility amid global turbulence triggered by sweeping U.S. tariffs. The Stock Exchange of Thailand (SET) announced on Monday that short selling of all securities—except for market makers—will

The White House on Monday rejected claims that President Donald Trump is considering a 90-day suspension of tariffs, calling the reports “fake news.” Markets opened sharply lower for the third consecutive trading session, as Trump's sweeping tariff policy continued to disrupt global trade and investment flows. Overnight,

President Donald Trump urged investors not to panic on Monday morning, coining a new term—“PANICAN”—for what he described as a political party of “Weak and Stupid people,” just moments before the markets opened. “The United States has a chance to do something that should have been done DECADES