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Treasury Secretary Scott Bessent said the customized tariffs leveled on handful of countries were paused so President Trump can be "personally involved" in the negotiations.
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House Democrats criticized trade chief Jameison Greer during a Wednesday hearing, arguing the Trump administration's tariffs will hurt Americans.
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President Donald Trump on Wednesday said he is immediately raising the tariffs on Chinese goods to 125% over Beijing's "lack of respect" toward America.
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At a Wednesday hearing, U.S. Trade Representative Jamieson Greer faced a grilling from Democrats on the House Ways and Means Committee.
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For many years tariffs were viewed favorably by Americans. But in the 1930s one act of Congress changed people's minds. That act is erroneously blamed for the Great Depression.
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The Trump administration believes it is Main Street's turn to lead the economy, and will focus on small businesses rather than Wall Street over the next four years.
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Treasury Secretary Scott Bessent said that rising yields on U.S. Treasurys are a result of normal deleveraging rather than a systemic issue with the bond market.
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Executives of the largest private employer in the U.S. are still confident in the business despite growing concerns from the business community around tariffs.
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The EU approved retaliatory tariffs on billions of dollars in U.S. imports on Wednesday as "countermeasures" against President Donald Trump's tariffs.
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Those working at a decades-old Taco Bell location in Scottsdale, Arizona, have simply outgrown the space and are preparing to move across the street.
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