ABC Business

Stocks tumble after Trump unveils sweeping new tariffs

Friday, August 1 by ABC News

(NEW YORK) -- U.S. stocks tumbled in early trading on Friday, just hours after President Donald Trump signed an executive order slapping new tariffs on dozens of countries. A weak jobs report worsened investor jitters, revealing a slowdown of hiring over recent months as... Read More.

What to know about Trump’s trade feud with India

Thursday, July 31 by ABC News

(WASHINGTON) -- President Donald Trump on Thursday sharply criticized India over its trade policy, escalating a series of attacks as the White House readies to ratchet up tariffs on the country.The Trump administration plans to slap 25% tariffs on Indian products and impose additional... Read More.

Fed holds interest rates steady, defying Trump’s pressure

Wednesday, July 30 by ABC News

(WASHINGTON) -- The Federal Reserve held interest rates steady on Wednesday, just days after President Donald Trump made an unusual visit to the central bank, calling for a rate cut.The central bank has defied Trump’s public criticism for months, adopting a wait-and-see approach as... Read More.

US economy grew more than expected as Trump’s tariffs took hold

Wednesday, July 30 by ABC News

(WASHINGTON) -- The U.S. economy expanded more than expected as President Donald Trump’s tariffs took hold over recent months, federal government data on Wednesday showed.U.S. gross domestic product, or GDP, increased at a 3% annualized rate over three months ending in June. The figure... Read More.

What’s in Trump’s trade agreement with the European Union?

Monday, July 28 by ABC News

(NEW YORK) -- President Donald Trump unveiled a trade agreement with the European Union on Sunday, making it the latest in a series of accords as the White House threatens to slap tariffs on dozens of countries this week.Prior to the agreement, the European... Read More.

Volkswagen suffers $1.5 billion loss from Trump’s tariffs

Friday, July 25 by ABC News

(NEW YORK) -- President Donald Trump’s tariffs cost German auto giant Volkswagen about $1.5 billion over the first half of 2025, the company said on Friday.Sales in North America plunged 16% due primarily to U.S. tariffs, said Volkswagen, which owns a host of brands... Read More.

Trump set to visit Federal Reserve, ratcheting up pressure on Chair Jerome Powell

Thursday, July 24 by ABC News

(WASHINGTON) -- President Donald Trump is set to visit the Federal Reserve on Thursday, ratcheting up pressure on the central bank after his repeated calls for lower interest rates.It marks the first official trip to the Fed taken by a sitting president in almost... Read More.

What’s in Trump’s trade agreement with Japan?

Wednesday, July 23 by ABC News

(WASHINGTON) -- President Donald Trump announced a trade agreement with Japan on Tuesday, making it the largest U.S. trade partner to broker an accord as the White House threatens to impose tariffs on dozens of countries within days.Before the deal, Japan faced the prospect... Read More.

Jeep maker Stellantis says it will lose $2.7 billion due partly to tariffs

Monday, July 21 by ABC News

(NEW YORK) -- President Donald Trump’s tariffs are costing Jeep maker Stellantis hundreds of millions of dollars, the company said Monday.The giant carmaker expects to have suffered nearly $350 million in losses over the first half of 2025 due to direct tariff payments as... Read More.

Consumer sentiment improved in July, despite Trump’s tariff threats

Friday, July 18 by ABC News

(NEW YORK) -- Consumer sentiment ticked higher in July, marking two consecutive months of improved shopper attitudes as businesses navigated President Donald Trump’s latest tariff threats targeting dozens of countries. The fresh reading matched economists’ expectations.The recent resurgence of consumer sentiment followed six... Read More.