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52°
Thursday, jun 4
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JPMorgan
Business
Trump Retreats From Many Tariffs, Raises China's Rate To 125% After Days Of Market Freefall
President Donald Trump has stepped back from many of his tariffs while escalating Chinese duties even higher, sparking a dramatic market comeback after some of the worst trading days since the start of the COVID-19 pandemic. The 90-day pause will apparently apply to some tariffs for more than 75 countries that haven't issued retaliatory duties. Trump announced the halt on his social media platform Truth Social on Wednesday, April 9. A 10% tariff will remain in place for the countries included in the pause. The White House said the 10% duty will also apply to Canada and Mexico, NBC News…
Business
Trump Slaps 104% Tariff On China As Markets Resume Freefall, Recession Fears Grow
President Donald Trump will place a jarring 104% tariff on Chinese goods, wiping out gains on Wall Street after three chaotic days of trading that wiped out trillions from US markets and elevated recession fears. White House Press Secretary Karoline Leavitt confirmed the dramatic tariff rise during a news conference on Tuesday, April 8. The new 104% duty will officially begin at 12:01 a.m. on Wednesday, April 9. China's tariff rate was raised to a combined 54% when Trump announced his "liberation day" tariffs on Wednesday, April 2. A 34% additional tariff was added to Trump's pre-existing 2…
Business
Avelo To Fly ICE Deportation Flights, Sparking Boycott As Critics Slam 'Cruel' Policy
Avelo Airlines has received widespread criticism after agreeing to fly deportation charter flights for Immigration and Customs Enforcement. An Avelo spokesperson confirmed the airline's ICE partnership to the Daily Voice on Tuesday, April 8. The "long-term charter program" will be based at Mesa Gateway Airport (AZA) in suburban Phoenix and begin on Monday, May 12. The Houston-based airline said its operations with the Department of Homeland Security will utilize three Boeing 737-800 planes. "Flights will be both domestic and international to support the department's deportat…
Business
Volatile Markets Spiral As Trump Threatens China, White House Denies Tariff Pause Rumor
Chaos has shaken Wall Street for a third day as the White House denied rumors of a pause on President Donald Trump's sweeping new tariffs that sparked the worst sell-off since the start of the COVID-19 pandemic. The Dow Jones Industrial Average opened down roughly 1,250 points on Monday, April 7. The massive drop continued the market freefall that happened in the aftermath of Trump's "liberation day" announcement. Soon after trading opened, the Dow surged back into the green by around 10:15 a.m. The bounce back appeared to be in response to social media posts claiming Trump was conside…
Business
Market Freefall Deepens After Trump's Sweeping Tariffs Despite Moderate Job Gains In March
Unemployment inched up in March – slightly higher than economists expected – as stock markets crashed and Big Tech companies saw their worst single-day loss on record in response to President Donald Trump's aggressive new tariffs. March's unemployment rate was 4.2%, the Bureau of Labor Statistics said on Friday, April 4. That was slightly higher than the 4.1% forecast as the labor force participation rate also rose, CNBC reported. The US added 228,000 nonfarm payrolls in March, significantly higher than the Dow Jones estimate of around 140,000. The BLS also reduced …
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