Investors react to doubled steel tariffs
Tariffs on steel and aluminum imports doubled from 25% to 50% Wednesday as President Trump's trade war ramped up. CBS News MoneyWatch correspondent Kelly O'Grady reports.
Tariffs
Trump's tariffs take effect
President Trump's 50% tariffs on foreign steel and aluminum took effect Wednesday. Meanwhile, Mr. Trump is expecting to speak with Chinese President Xi Jinping later this week about trade. CBS News MoneyWatch correspondent Kelly O'Grady breaks down the latest economic data, while CBS News' Natalie Brand has the latest updates from the White House.
Trump tariffs on steel, aluminum double
President Trump's steel and aluminum tariffs have officially doubled to 50%, and American manufacturing experts are warning that the costs will be passed down in the supply chain, possibly raising prices for consumers. CBS News' Natalie Brand reports.
U.S. doubles tariffs on steel and aluminum to 50%
A U.S. tariff on imports of steel and aluminum took effect Wednesday, doubling to 50% and casting a pall on a gathering of OECD ministers.
"Buy now, pay later" for groceries?
While "buy now, pay later" loans have been used for big-ticket items for years, new data shows that a growing number of American consumers use the method for everyday items. CBS News MoneyWatch correspondent Kelly O'Grady has more.
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Trump administration plans to ease some tariffs on automakers; Florida man jumps into alligator-inhabited lake to save injured bald eagle.
Apr 29: CBS News 24/7, 10am ET
President Trump to mark 100 days of second term with speech in Michigan; Congress divided over Trump's budget bill.
Apr 29: CBS News 24/7, 4pm ET
Trump to mark symbolic milestone with Michigan rally; President Trump promises no tax on tips, gains support from some congressmen and senators.
China, U.S. swap trade violation claims
China is pushing back against the U.S. after President Trump accused the country of violating a May 12 trade agreement. CBS News senior business and technology correspondent Jo Ling Kent reports.
Jan. 6 defendant rejects Trump pardon
A former Trump loyalist is rejecting a pardon for her role in the Jan. 6 Capitol riot. Pamela Hemphill was convicted of a misdemeanor for entering a restricted area during the 2021 attack. Wall Street Journal White House reporter Meridith McGraw, NOTUS reporter Jasmine Wright and CBS News Department of Justice correspondent Scott MacFarlane join to discuss.
China blasts White House trade claims
The Chinese Commerce Ministry said Monday that recent Trump administration moves, including plans to revoke visas for Chinese students, have violated the trade deal both countries agreed to in Geneva. The statement comes days after President Trump accused China of violating the trade agreement. CBS News' Ed O'Keefe has the latest, and CBS News MoneyWatch correspondent Kelly O'Grady has more on how markets are reacting.
U.S. steelmaker shares jump after Trump hikes industry tariffs to 50%
Shares of several major U.S. steel companies jumped Monday after President Trump said he would hike tariffs to 50%.
Trump, Xi will speak soon, official says
President Trump will speak with Chinese President Xi Jinping at some point in the near future, according to Treasury Secretary Scott Bessent. This comes after Mr. Trump said that China violated its trade agreement with the U.S. CBS News' Natalie Brand has the latest.
Trump's tariff hike on steel causes new uncertainty
President Trump on Friday announced a doubling of tariffs on foreign imports of steel and aluminum from 25% to 50%, which could threaten to impact the prices of cars, appliances and even construction supplies. Taurean Small has details.
Elon Musk gets Oval Office sendoff
Hours after Elon Musk's farewell ceremony in the Oval Office, a U.S. appeals court denied the Trump administration's request to resume mass firings of federal employees. Meanwhile, President Trump returned to a key battleground state for a rally after declaring new steel tariffs and announcing a deal with Japan's Nippon Steel.
Trump doubles steel tariffs as deal sparks hope
With his tariffs facing legal challenges and no big trade deal yet, President Trump hoped for an economic boost through what he called a "planned partnership" between Japan's Nippon Steel and U.S. Steel, which could save tens of thousands of jobs nationwide, including at least 11,000 around West Mifflin, Pennsylvania. Ed O'Keefe has more.
Trump announces doubled tariffs on steel
On Friday in Pennsylvania, President Trump announced that "we are going to be imposing a 25% increase, from 25% to 50%, the tariffs on steel into the U.S., which will even further secure the steel industry in the U.S." CBS News MoneyWatch correspondent Kelly O'Grady breaks down what this means.
Fed's preferred gauge shows inflation cooling
New economic data released on Friday showed higher U.S. personal income, a softening of inflation and lower trade deficits. CBS News MoneyWatch correspondent Kelly O'Grady has the details.
Trump tariff, trade deal updates
President Trump's sweeping tariffs were temporarily reinstated following a federal appeals court decision on Thursday. This comes after a federal trade court previously blocked most of Mr. Trump's levies against foreign nations. CBS News' Nancy Cordes breaks down the latest from the White House.
Uncertainty in battle over Trump's tariffs
A federal appeals court says President Trump's tariffs can stay in place for now. This came after the court of international trade ruled that they are likely illegal. The back-and-forth is happening as Elon Musk leaves his White House role. He told "CBS Sunday Morning" prior to the announcement of his departure that he has some "differences of opinion" with the Trump administration. Watch more of Pogue's interview with Musk this Sunday, only on "CBS Sunday Morning."
Big Lots leadership on impact of tariffs
Lisa Seigies, president and CEO of Variety Wholesalers, which purchased assets from the Chapter 11 bankruptcy of Big Lots last year, speaks to "CBS Mornings" about reopening stores and the impact of President Trump's tariffs.
Trump met with Fed chair Powell
President Trump met with Federal Reserve Chair Jerome Powell at the White House as the nation navigates prolonged inflation and a period of economic uncertainty. CBS News chief White House correspondent Nancy Cordes has more details.
White House reacts to tariff news
A federal appeals court temporarily reinstated President Trump's sweeping tariffs on Thursday, following an earlier decision by a federal trade court to block most of the levies Mr. Trump imposed against foreign nations. Also, it is Elon Musk's final official day as a "special government employee." CBS News' Natalie Brand has the latest from the White House.
Breaking down court rulings on Trump tariffs
A federal international trade court ruled that many of President Trump's tariffs exceeded presidential power -- then a federal appeals court reinstated them. What does it mean? Tad DeHaven, policy analyst at the Cato Institute, joins to discuss.
Business owner reacts to tariff flip-flopping
The last 24 hours have been a rollercoaster for businesses big and small -- now ensnared in a legal back-and-forth. It's also left many American companies in financial limbo, when all they want is some certainty. Jo Ling Kent reports.
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