U.S. and China Reach ‘Framework’ for a TikTok Sale
Top economic officials met in Madrid for a second day, with deadlines looming on tariffs and a ban on TikTok in the United States if it is not sold by its Chinese owner, ByteDance.
Top economic officials met in Madrid for a second day, with deadlines looming on tariffs and a ban on TikTok in the United States if it is not sold by its Chinese owner, ByteDance.
Economic officials meeting in Madrid are seeking to head off a November tariff deadline.
Popular products from Britain and the European Union show how uneven and unpredictable U.S. tariffs have become, even when part of trade deals.
Last week’s immigration operation at a battery plant highlighted a tactic that companies use to bring in foreign workers to establish new operations.
Commerce Secretary Howard Lutnick has been putting the squeeze on companies and trading partners in an unusual effort to raise revenue and expand the president’s role over the economy.
For the president, the power to issue limitless tariffs is at the heart of his second-term vision, from trade to foreign policy.
An influx of immigrants helped ease worker shortages, and now their expulsion is helping to mask the country’s weakening demand for labor.
As pandemic subsidies disappeared, wages kept workers just ahead of inflation, although gaps have widened for some groups.
After a bad employment report in August, President Trump fired the official in charge of the numbers. This month’s data was just as disappointing.
Trade rebounded slightly after President Trump’s sweeping global tariffs discouraged foreign countries from doing business with the United States, data released Thursday showed.