Howard Lutnick, the secretary of commerce, has become a go-to for major companies seeking relief from tariffs. But he’s not always friendly to their interests.
Category: United States Economy
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Trump Budget to Take Ax to ‘Radical’ Safety Net Programs
A draft document outlines steep cuts or the elimination of funding for programs that provide child care, housing assistance, foreign aid and health research.
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Pepsico Cuts Growth Forecast Amid Tariffs and Slowed Consumer Spending
PepsiCo’s earnings call pointed to anxious consumers as to why sales had slowed, echoing comments made by Chipotle and Procter & Gamble.
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On Major Economic Decisions, Trump Blinks, and Then Blinks Again
President Trump has said his punishing tariffs would force companies to build factories in the United States. But it is far from clear that they will have the effects he predicted.
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Trump Team Races to Form Trade Deals After Tariffs Sow Global Chaos
The president’s threats of tariffs have brought countries like Japan, South Korea and India rushing to negotiate, but they have sown chaos with bigger trading partners like China.
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Scott Bessent Accuses IMF and World Bank of ‘Mission Creep’
Treasury Secretary Scott Bessent argued in a speech that the multilateral economic institutions have veered away from their missions.
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Bessent Accuses IMF and World Bank of ”Mission Creep”
Treasury Secretary Scott Bessent argued in a speech that the multilateral economic institutions have veered away from their missions.
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Trump Says He Won’t Fire Powell. His Fed Battle May Not Be Over Yet.
The president said he has “no intention” of ousting Jerome H. Powell, the Fed chair, but the administration’s willingness to challenge norms regarding the central bank’s political independence is causing concern.
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Trump Says He Won’t Fire Powell. His Fed Battle May Not Be Over Yet.
The president said he has “no intention” of ousting Jerome H. Powell, the Fed chair, but the administration’s willingness to challenge norms regarding the central bank’s political independence is causing concern.
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Treasury Secretary Bessent Talks China Trade War De-Escalation and Tax Cuts
Scott Bessent told a group of investors that he expected trade tensions with China to de-escalate.
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IMF Expects Trump’s Tariffs Will Slow Global Economic Growth
The International Monetary Fund expects slower growth and higher inflation in the U.S. as a result of President Trump’s trade policies.
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Global Economic Leaders Gathering in U.S. Confront Trump’s New World Order
The I.M.F. and World Bank are holding their spring meetings as President Trump’s trade war upends the global economy.