NYT > Business

Stocks Tumble as Investors Balk at Tariff Plan

Stocks hadn’t fallen this far this fast since the early days of the coronavirus pandemic. A 9.1 percent drop in the S&P 500 is the steepest weekly decline since March 2020.
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Republicans Like to Cut Taxes. With Tariffs, Trump Is Raising Them.

President Trump’s tariffs are scrambling the Republican plan for the economy, long centered on tax cuts and growth.
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The Fed Isn’t Rushing to Save the Markets This Time

With stocks in a steep decline and tariffs inducing recession jitters, the patience of investors may be tested.
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The White House Frames the Past by Erasing Parts of It

As the Trump administration pulls government websites and data offline, it is selectively stripping away the public record, letting the president declare his own version of history, archivists and historians said.
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British Carmaker Jaguar Land Rover Pauses Shipments to U.S.

The luxury automaker, which faces 25 percent import tariffs, said it was halting shipments in April as it addresses the new trading terms.
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Lesotho, a Small African Nation, Expects a Big Hit From Trump’s Tariffs

The amount of manufactured goods exported from Africa to the United States is minuscule. But for Lesotho, the impact of a stunning 50 percent tariff is enormous.
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Tempted by Trump’s Tariffs to Panic-Buy? Don’t.

A census of Costco carts on Thursday revealed little fear. Tariffs could go as fast as they’re coming, and our columnist is not stuffing his pantry.
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How to Protect Your Retirement Savings Now as Markets Plunge

If you’re within five years of retiring, either before or after, you’re at your most vulnerable financially. Here are steps to weather the volatility.
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A Tariffs Cheat Sheet

An escalating global trade war has tanked markets and plunged corporate America into chaos. DealBook asked economists, investors and other experts to help make sense of what’s next.
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A Sneak Peek Inside Universal’s New Epic Universe Theme Park in Orlando

The new $7 billion theme park in Orlando opens in May. With it, Universal aims to challenge Disney by letting visitors explore lands based on movies and games.
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7 Americans Weigh In on Trump’s Sweeping Tariffs

Voters were bracing for the effects of President Trump’s recent tariffs in their own lives, but some said they were, for now, waiting and watching to see how all of this plays out.
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Do Dogs Belong at Work?

Plus, how to talk about office cleavage. (Yes, you can talk about it.)
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Ted Cruz and Other Senate Republicans Question Trump’s Tariffs

One of the president’s allies warns that the trade barriers could hurt American business and consumers. But he has yet to take any real steps to reverse them.
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More Than 500 Law Firms Back Perkins Coie in Fight With Trump

The firms signed a legal brief supporting Perkins Coie, calling the president’s actions a threat “to the rule of law.” The largest firms declined to sign.
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U.S. Farmers Brace for Losses in New Trade War With China

China is the third-biggest buyer of U.S. agricultural products. Now that it has punched back with tariffs on American goods, farmers can expect to feel the pain.
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Republican Plan to Kill California’s E.V. Policies Hits Senate Snag

The Trump administration asked Republicans in Congress to stop California’s ban on new gas-powered cars. The Senate parliamentarian said it wasn’t allowed.
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New England’s King of Couches Relinquishes His Crown

Eliot Tatelman, a fixture on regional television for his quirky ads, is retiring as president of Jordan’s Furniture. It was a nostalgic moment for a place known for fiercely guarding its traditions.
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Swiss Indignant to Make the Top 10 of Trump’s Tariffs List

Swiss companies bemoan the loss of a reliable partner, and called the 32 percent tariff “incomprehensible.”
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Trump Calls India a Friend, but Is Trying to Block Its Imports

Stunned to see their own exports punished harshly, Indians are picking through the wreckage for signs of hope. There’s some but not a lot.
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As Markets Plunge Over Trump Tariffs, All Is Calm on Fox News

There is no onscreen stock ticker. One anchor reassured viewers that “President Trump is keeping another campaign promise.”
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Nintendo Delays Switch 2 Preorders, Citing Trump’s Tariffs

The new video game console will still be released in June, the Japanese company said. Its price was unveiled as $450 this week.
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Something Else for Europe and the U.S. to Disagree About: ‘Free Speech’

The two have long been divided on whether speech can be restricted, and when. Under the Trump administration, the gap is widening.
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Powell Warns Trump’s Tariffs Risk Stoking Even Higher Inflation and Slower Growth

Jerome H. Powell, chair of the Federal Reserve, says the central bank’s “obligation” is to ensure that a “one-time increase in the price level does not become an ongoing inflation problem.”
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Trump Is Defiant as Tariff Moves Roil Markets a Second Day

After China announced new retaliatory measures against the United States, President Trump responded that Beijing “PLAYED IT WRONG.”
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What to Know About Trump’s Order to Phase Out Paper Checks

An executive order from President Trump will require government agencies to make electronic payments for tax refunds, Social Security and other benefits as of Sept. 30.
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Trump’s Tariffs Drive Another Market Meltdown

A rapidly escalating trade war has socked stocks as investors weigh the fallout from President Trump’s tariff barrage.
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What Will Trump’s Tariffs Do to EU-China Trade Relations?

The European Union is deepening other trade partnerships as U.S. relations sour. But with China, the relationship could get closer — or more combative.
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‘Wait, Baby, Wait’: Slumping Oil Prices Reflect Economic Worries

Fears that President Trump’s tariffs could slash global economic growth — and demand for oil — are weighing on the market.
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Trump’s Trade War Escalates as China Retaliates With 34% Tariffs

The Chinese government said it would match President Trump’s tariff, and also barred a group of American companies from doing business in China.
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Trump Officials Warn of Tariff Pain as Price Increases Loom and Stocks Tumble

The president’s aides insist the fallout will be short and ultimately result in a better economy, as economists warn of higher inflation and slower growth.
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Pizza Hut, Chili’s, Olive Garden: The Death of the Middle-Class Restaurant

The boom in American sit-down chains has come and gone. What replaced them isn’t so great for human connection.
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Trump Blocked America’s Front Door to China. Now He’s Closing Back Doors.

The U.S. tariffs on transshipment countries like Vietnam and Cambodia are so steep that they could force a major reassessment of global supply chains.
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Trump’s Threatened Tariff on Buyers of Venezuelan Oil Could Squeeze China

Venezuela owes China’s banks about $10 billion, and its oil is about the only legal way it has to pay them back.
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U.S. Employers Added 228,000 Jobs in March, but Outlook Is Clouded

The gain was stronger than expected, though the impact of President Trump’s tariffs and other policies on the labor market has yet to play out.
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Trump’s Next Tariffs Target Could be Foreign-Made Pharmaceuticals

President Trump wants to bring pharmaceutical manufacturing back to the United States. Experts warn that tariffs could result in shortages and higher prices for generic drugs.
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Stocks Drop Again as Trade War Intensifies

Continued worries about President Trump’s trade policies and retaliation by major trading partners overshadowed an unexpectedly strong report on the U.S. labor market.
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Lawsuit Challenges Trump’s Legal Rationale for Tariffs on China

A nonprofit group said the president misapplied a law in imposing those levies and portrayed its filing as the first lawsuit to challenge the Trump administration over its tariffs.
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Grocery Shoppers Will Feel the Tariffs First in Produce

Higher prices could also be coming soon for seafood, sugar and coffee. But it may be a while before importers and retailers can gauge the effects of the new fees.
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How Will Charlie Javice Teach Pilates in an Ankle Monitor?

Convicted of fraud and facing the possibility of decades in prison, Charlie Javice was concerned about how a monitoring device would affect her job.
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John Thornton, Venture Capitalist Who Founded The Texas Tribune, Dies at 59

He founded The Texas Tribune, a model for nonprofit grass-roots news organizations nationwide, and the American Journalism Project, which supports them.
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With the Worst U.S. Stock Market In Years, Try Some Old-Fashioned Investments

People have avoided huge losses by holding old-fashioned, well-balanced investments, an approach our columnist is banking on for the future.
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E.U. Prepares Major Penalties Against Elon Musk’s X

European regulators are considering fining X more than $1 billion, after weighing the risks of further antagonizing Mr. Musk and President Trump.
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Why Did Trump Impose Tariffs, and What’s Next? Everything to Know.

The president announced sweeping tariffs on Wednesday in an effort to reset global trading relationships. Here’s what you need to know.
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Oil Producers Follow Trump’s Tariffs With a Surprise Increase

Saudi Arabia and other members of the OPEC Plus group accelerated their program to put more oil on the market, adding to a sharp fall in prices.
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After Trump Tariffs, Volkswagen to Add ‘Import Fees’ to Cars Sold in U.S.

The company’s move is one of the first and clearest examples of automakers using price increases to deal with the 25 percent tariffs President Trump imposed on car and auto parts imports.
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With TikTok Deadline Looming, Details of a Potential Deal Emerge

The video app is barreling toward a Saturday deadline to change its ownership under federal law or face a ban in the United States.
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Canada’s Carney Puts Tariffs on U.S.-Made Cars as Stellantis Plant Pauses Production

Mark Carney, a former central banker, also called on “like-minded countries” to form a new trading order without the United States.
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FDA Layoffs Could Raise Drug Costs and Erode Food Safety

Trump cutbacks were supposedly aimed at administrators. But scientists in food and drug-testing labs and policy experts who advance generic drug approvals were also dismissed.
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Trump’s De Minimis Order Could Raise Costs on Clothes and Goods From China

The loophole has allowed retailers to send goods from China directly to U.S. shoppers without paying tariffs. Closing it could raise consumer prices.
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The Job Market Has Been Resilient. The Trade War Could Be Its Undoing.

The U.S. economy has largely withstood inflation and high interest rates. But tariffs could bring new price increases and put a damper on hiring.
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Trump’s Tariffs Follow Anger Over Trade Imbalances and Lost Manufacturing Jobs

Economists and legal experts question how the strongest economy in the world can be facing a national emergency over the trade deficit.
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Nike, Lululemon and Other Consumer Stocks Hit Hard by Trump’s Tariffs

Many sportswear brands shifted production away from China to avoid tariffs imposed years ago, but now they face punishing levies targeting alternative manufacturing hubs.
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Radhika Jones, Vanity Fair’s Top Editor, Steps Down

Ms. Jones has led the gilded magazine of culture, business and politics since 2017.
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Capital One Deal for Discover Clears Justice Dept. Hurdle

The department, during the Biden administration, initially said it had concerns about the merger of two of the largest credit card companies in the U.S.
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Trump Imposes Tariffs on Remote Islands

Some of the more sparsely populated territories in the world that do little trade with the United States have been caught up in the trade war.
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Trump’s Tariffs Hit Garment Makers in Bangladesh and Sri Lanka Hard

The industry supplies low-cost clothing to the United States, and is a crucial part of the Asian countries’ economies.
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Trump’s Trade War Risks Forfeiting America’s Economic Primacy

The United States has steered an economic order for 80 years based on trade and trust, making the country the world’s financial superpower. That vision is now blurred.
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