Author: arthursheikin@gmail.com

[ad_1] Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldDonald Trump said he would double tariffs on steel and aluminium imports from 25 per cent to 50 per cent in a fresh escalation of his global trade war.The US president unveiled the increased levies as he touted a $15bn partnership between Nippon Steel and US Steel at a rally in Pennsylvania, promising to erect a tariff “fence” around domestic metals production.“We’re going to bring it from 25 per cent to 50 per cent, the tariffs on steel into…

[ad_1] CNN  —  US ports have been seeing pandemic-level declines in imports, so good news on tariffs was just what port officials were hoping for. For awhile on Wednesday, it looked like retailers and ports got exactly that, with a court blocking many of President Donald Trump’s tariffs. But a federal appeals court on Thursday quickly paused that ruling. That kind of whiplash underscores why, even when there’s news of tariffs easing, goods don’t start flowing into US ports right away. And that could mean fewer goods on store shelves in the coming months, cutting into available choices and raising…

[ad_1] CNN  —  American consumers reined in their spending and socked away their money in April following a tariff-fueled buying binge the month before, according to new data released Friday that also showed inflation cooled off again. Friday’s report from the Commerce Department showed that consumer spending rose 0.2% last month, a weaker-than-anticipated reading but a notable retreat from March, when spending soared 0.7% as Americans front-loaded purchases — notably new cars — ahead of potential price increases from President Donald Trump’s tariffs. In April, consumers saw a nice 0.8% boost to their incomes, a jump likely attributed to larger…

[ad_1] Washington CNN  —  Americans didn’t feel any sense of optimism about the US economy this month, despite tensions easing somewhat in President Donald Trump’s ever-evolving trade war. Consumer sentiment held steady in May compared to the prior month at a final reading of 52.2, the University of Michigan said in its latest survey released Friday. Sentiment was slightly worse earlier this month, according to a preliminary reading, which “turned a corner in the latter half of the month following the temporary pause on some tariffs on China goods,” according to a release. May’s reading matched April’s for the fourth-lowest…

[ad_1] CNN  —  JPMorgan Chase CEO Jamie Dimon sounded a warning Friday on the fractious US relationship with China — and on “the enemy within.” “China is a potential adversary — they’re doing a lot of things well, they have a lot of problems,” Dimon said at the Reagan National Economic Forum in Simi Valley, California. “But what I really worry about is us. Can we get our own act together — our own values, our own capability, our own management.” Dimon’s comments come as President Donald Trump’s tarrifs have sharply cut into trade between the United States and China,…

[ad_1] CNN  —  The Department of Justice has decided to drop its criminal case against Boeing despite the company agreeing to plead guilty last year to its role in two fatal 737 Max crashes that killed 346 people. The decision to drop the case against Boeing is another sign the Trump administration has been going easier on prosecuting corporate misdeeds than the Biden administration. The decision sparked harsh criticism from some of the families of victims of the two fatal crashes. “The Department of Justice is trying to sweep the errors and mistakes of Boeing and the FAA under the…

[ad_1] Elon Musk is no stranger to rolling with the punches — and a recent one apparently landed.Musk was sporting a black eye while standing next to President Donald Trump in the Oval Office on Friday.The bruise was visible beneath his DOGE hat, and the Tesla CEO was eventually asked about what happened.”I was just horsing around with Little X and I said, ‘Go ahead, punch me in the face,'” Musk told reporters.”And he did. It turns out that even a five-year-old punching you in the face,” Musk said before Trump interjected.”If you knew X, X could do it,” the…

[ad_1] Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldJamie Dimon has warned that the US bond market will “crack” under the weight of the country’s rising debt as he called on Donald Trump’s administration to place America on a more sustainable trajectory. The JPMorgan Chase chief executive said on Friday that he had cautioned regulators: “You are going to see a crack in the bond market.” He added: “I’m telling you this is going to happen. And you are going to panic. I’m not going to panic.…

[ad_1] If the adoption of AI feels different from any tech revolution you may have experienced before — mobile, social, cloud computing — it actually is. Venture capitalist Mary Meeker just dropped a 340-page slideshow report — which used the word “unprecedented” on 51 of those pages — to describe the speed at which AI is being developed, adopted, spent on, and used, backed up with chart after chart. “The pace and scope of change related to the artificial intelligence technology evolution is indeed unprecedented, as supported by the data,” she writes in the report, called “Trends — Artificial Intelligence.”…

[ad_1] It was a praise-filled display of mutual admiration between Elon Musk and President Donald Trump in the Oval Office on Friday afternoon.To commemorate Musk’s official last day with DOGE, Trump held a press conference with the Tesla CEO — gifting Musk a large key in the process.The president handed Musk a brown box containing the key, saying he reserves this gift for “very special people.”Musk, standing next to the president in a black DOGE cap and a graphic tee reading “The Dogefather,” accepted the present, saying it was “amazing” and admiring Trump’s revamped golden Oval Office decor. Elon Musk…