Walmart, Target CEOs privately warned Trump tariffs may cause empty shelves soon
Two U.S. retailers warned President Trump his sweeping tariff policy could disrupt supply chains and lead to empty shelves in the coming weeks.
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Richard Escobedo covers economic policy - the intersection of Wall Street and Washington - at CBS News. He is also a coordinating producer at "Face the Nation with Margaret Brennan," overseeing the broadcast's C-suite and economic bookings. Richard joined CBS in 2018 and is a graduate of Texas Christian University in Fort Worth, Texas. He is based in Washington, D.C.
Two U.S. retailers warned President Trump his sweeping tariff policy could disrupt supply chains and lead to empty shelves in the coming weeks.
The White House has taken pains to say administration officials are unified on the tariff effort announced on April 2, which the White House dubbed "Liberation Day."
President Trump said Friday that Japan's Nippon Steel will drop its $14.1 billion bid to acquire U.S. Steel and instead "invest heavily" in the company.
Democratic lawmakers have expressed concern that access to the system could allow DOGE, which disburses nearly 90% of all federal payments, to restrict disbursement of federal funds.
The White House memo issued late Monday led to chaos and confusion as to what programs would be impacted by the freeze.
The spending freeze on federal assistance could affect everything from aid to nonprofits, universities, small business loans and state and local government grants.
President Biden announced Friday he would reject Nippon Steel's proposed acquisition of U.S. Steel.
The Commerce Department's action is a direct response to China's infiltration of telecom networks earlier this year.
The funding deal reached between Congress and the White House will include a ban on direct U.S. funding for the U.N. Relief and Works Agency for Palestine Refugees until March 2025, sources say.
"I go around the world to tell about my mom. So maybe someone in the U.S. can hear me and help find her," said 13-year-old Sasha Radchuck.
In a closed-door meeting, a top Biden aide told Arab Americans in Michigan that "I do not have any confidence" in the current Israeli government taking steps toward a Palestinian state.
After weeks of closed-door negotiations, the White House and a trio of senators could unveil an agreement as early as this week, sources said.
Ten Americans and a fugitive wanted by the U.S. have been released from Venezuelan custody in exchange for the release of a close ally of Venezuelan President Nicolás Maduro.
The Financial Stability Oversight Council's annual report, which was released Thursday, identified 14 potential vulnerabilities to the financial services sector.
Three Americans held in Venezuela — Eyvin Hernandez, Jerrel Kenemore and Joseph Cristella — have been designated as wrongfully detained by the State Department.