Stocks sank Monday after President Trump announced a fresh salvo of tariffs on more than a dozen countries as he works to rectify what he views as persistent trade imbalances. The S&P 500 as fell 49 points, or 0.8%, to close at 6,230, while the Dow Jones Industrial Average fell 422 points, or 0.9%, to close…
President Trump on Monday said 25% tariffs on goods from South Korea and Japan will go into effect on August 1. Mr. Trump posted two nearly identical letters to each nation’s leader on his Truth Social media platform Monday, indicating that the levies will take effect on the first day of August. A 90-day freeze on…
The European Union expects to find out on Monday whether President Donald Trump will impose punishing tariffs on America’s largest trade partner in a move economists have warned would have repercussions for companies and consumers on both sides of the Atlantic. President Trump said on social media this weekend that he would start sending tariff…
Washington — White House National Economic Council director Kevin Hassett said Sunday that “rough outlines of the deals are becoming clear” ahead of a key tariff deadline this week, with agreements like the U.K. and Vietnam deals serving as “guidelines for what might happen” with other countries. “There’s going to be quite a bit of…
College grad unemployment surges as employers replace new hires with AI – CBS News Watch CBS News The unemployment rate for new college graduates has recently surged. Economists say businesses are now replacing entry-level jobs with artificial intelligence. Ali Bauman has the story. Be the first to know Get browser notifications for breaking news, live…
As Congress was approving President Trump’s “big, beautiful bill” on Thursday, the Social Security Administration touted the legislation by stating that it “eliminates federal income taxes on Social Security benefits for most beneficiaries.” That claim, which echoes previous promises by Mr. Trump to remove taxes on Social Security, may have come as welcome news for the millions…
June jobs report was better than expected. Here’s what it means. – CBS News Watch CBS News The government released a better-than-expected jobs report for June, suggesting the economy is resilient for now, even with the uncertainty over tariffs. CBS News MoneyWatch correspondent Kelly O’Grady breaks down the numbers. Be the first to know Get…
July 4 celebrations may look different in some cities this year as they swap the crackle of fireworks for synchronized drone displays. Independence Day drone shows are planned for dozens of cities across the country, from Salt Lake City to Sarasota, Florida. The shows, produced by a variety of vendors, involve hundreds of illuminated drones…
The Environmental Protection Agency has placed 139 employees on leave after they signed a letter criticizing the Trump administration’s environmental policies. The letter, titled a “Declaration of Dissent,” accuses the Trump administration of undermining the EPA’s mission of protecting the environment by promoting “harmful deregulation” and showing”disregard for scientific expertise.” The document, which was released…
Nissan is recalling more than 480,000 vehicles in the U.S. and Canada because of manufacturing defects that could cause the engine to lose power while in use. In a recall notice posted with the the National Highway Traffic Safety Administration, Nissan said it had identified bearing failures in certain vehicles. Nissan is recalling 443,899 vehicles in the…
