Trump to announce new round of tariffs, what it means for consumers.
The president is set to announce the reciprocal tariffs during a rose garden event on Wednesday and that's just one part of new trade policies taking effect this week.
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The president is set to announce the reciprocal tariffs during a rose garden event on Wednesday and that's just one part of new trade policies taking effect this week.
CBS’s Natalie Brand reports it comes as a new CBS news poll shows more than half of Americans believe the president is not focusing enough on lowering prices.
Most Americans say the matter of Trump administration officials discussing U.S. military plans on the Signal app is serious.
The average price of a new car in U.S. was about $49,000 as of Thursday, but the new tariffs are expected to drive that price up.
With a 25% tariff on vehicles and auto parts imported into the U.S. going into effect next week, it could soon cost you more not just to buy a car, but to get one fixed. Chicago area car dealerships will have to adjust, and so will auto body shops.
President Donald Trump announced 25% tariffs on foreign-made cars starting on April 2.
The tariff will take effect April 2, and expects say it will jack up new car prices between $3,000 and $12,000.
Fed Chair Jerome Powell cites "high uncertainty" around the impact of Trump administration tariffs on key trading partners.
The president is threatening a 200% retaliatory tariff on alcohol from Europe. If the EU doesn't remove the one on American whiskey, wine sellers are finding it hard to swallow.
CBS News Chicago checked in with Momentum Coffee owner Nikki Bravo on Wednesday to see how she was doing with the uncertainty in the market.
CBS News Chicago checked in with Momentum Coffee owner Nikki Bravo on Wednesday to see how she was doing with the uncertainty in the market.
This threat was a response to the EU's 50% tariffs on American whiskey, which are set to go into effect next month.
The tariff tit-for-tat now setting the stage for what some local Chicago businesses say could be a disaster. In short, it means your favorite Italian wine or French bubbly may soon become a luxury item, as Andrew Ramos reports.
President Trump is threatening to ramp up the escalating trade war in response to Canada and the European Union announcing countermeasures to U.S. tariffs on all steel and aluminum imports.
Billions of dollars’ worth of American-made goods are now being targeted for increased tariffs, in retaliation for new taxes President Trump instituted on foreign-made steel and aluminum.
The European Union announced retaliatory tariffs on Wednesday, following new U.S. tariffs that took effect overnight on imported steel and aluminum. The escalating trade war comes as the Trump administration shares its plans to cut the U.S. Department of Education by nearly half.
Also, the U.S. has resumed intelligence sharing and military aid to Ukraine.
Tuesday saw another step forward and another step back in what has been a volatile exchange of tariff threats with Canada. The U.S. and Canada appear to be dialing back some of the threats after a phone call between Ontario, Canada's premier and the Trump administration.
Markets tumbled Monday with uncertainty over potential trade wars sparked by President Trump's tariff threats, making investors nervous. His administration officials say better days for the economy are coming.
The White House says the pause applies to about 38% of goods from Canada. It does not apply to energy imports, which will be taxed at a lower rate of 10%, as well as potash, a key ingredient in fertilizer that U.S. farmers use.
Trump on Thursday announced a temporary pause on import taxes for goods listed in the U.S., Mexico, Canada trade deal brokered during his first term.
As Canada and Mexico make plans for reciprocal tariffs on U.S. goods, Canadian Prime Minister Justin Trudeau calls President Trump's move "a very dumb thing to do."
The price of a wide array of products will likely soon be going up as a result of the tariffs — affecting everything from food to electronics.
President Trump's imposition of blanket 25% tariffs on all goods imported from Canada and Mexico took effect overnight. Charlie De Mar spoke with some Chicago business owners who are bracing for an impact.
Canada, Mexico and China are hitting back with retaliatory tariffs. The moves raised fears of higher prices for U.S. consumers and a trade war.
