EU sets July timeframe for US tariff reprisals
The EU says it expects to retaliate next month after the US imposed tariffs on the bloc’s steel and aluminium products, sparking fears of a global trade war.
Economy
Atlanta Fed Ups 2nd Quarter Growth Forecast to a Blazing 4.8%
The U.S. economy is expanding at a 4.8 percent annualized rate in the second quarter, the Atlanta Federal Reserve’s GDPNow forecast model showed on Friday.
US job growth might have picked up in May despite trade rift
U.S. employers are thought to have hired at a solid pace in May and helped extend the economy’s nearly nine-year expansion — the second-longest on record — despite uncertainty caused by trade disputes.
Turkey’s economy at risk as currency hits record low
Turkey is trying desperately to halt a collapse in its currency that could trigger an economic crisis just as the country prepares to vote in an election.
Congressional Report: Iran’s Economy Could Collapse
The U.S. decision to drop out of the Iran nuclear agreement could cause the Iranian economy to decline and ultimately collapse, a report from the Congressional Research Service affirms.
Russian missile defense system took direct hit during Israeli strikes in Syria
Russia relies heavily on foreign military sales to boost its economy. So the Kremlin scrambled to avoid bad publicity for one of its weapons systems last week after it took a direct hit during Israeli airstrikes in Syria.
Iran in Panic Mode, Scrambles to Save Nuclear Deal
The Iranian ruling regime is racing to save the landmark nuclear deal after President Donald Trump bucked European powers and walked away from the agreement with a vow to reimpose a package of harsh sanctions on the Islamic Republic, according to U.S. officials and regional experts who say the hardline regime is scared about losing the sweetheart deal.
White House Examining Plan to Help Iranian People Oppose Regime
The Trump administration is examining a new plan to help Iranians fighting the hardline regime in Iran following America’s exit from the landmark nuclear deal and reimposition of harsh economic sanctions that could topple a regime already beset by protests and a crashing economy, according to a copy of the plan obtained by the Washington Free Beacon.
Trump suggests revoking credentials over ‘negative’ reporting
President Donald Trump is suggesting that reporters have their credentials revoked for reporting negative news about him.
Iran talks tough, Israel braces for worst after Trump pulls out of nuclear deal
Iran said Tuesday that it was prepared to quickly restart uranium enrichment — the process needed to make nuclear bombs — if President Trump’s withdrawal from the 2015 nuclear deal leads to a total collapse of the Obama-era accord.
April was best month in history for U.S. budget, according to CBO figures
The federal government took in a record tax haul in April en route to its biggest-ever monthly budget surplus, the Congressional Budget Office said, as a surging economy left Americans with more money in their paychecks — and this more to pay to Uncle Sam.
The thrill is gone: Democratic Party losing support of young voters, says massive poll
A massive poll of young voters has some inconvenient news for Democrats.
Iranians Hit By ‘Perfect Currency Storm’
Every day, hundreds head to Tehran’s bustling Ferdowsi street to buy foreign currency, only to find that many exchange offices have shut up shop, have turned off their currency-rate displays, or have signs up reading, ‘We don’t have U.S. dollars to sell.’
Global debt is at historic highs and governments should start cutting levels now, the IMF says
Global debt hit its highest levels ever and governments should take actions to reduce their indebtedness while the going is still good, the International Monetary Fund said.
China says it will fight back if U.S. escalates trade spat
China’s commerce ministry said on Thursday trade negotiations with the United States would be impossible as Washington’s attempts at dialog were not sincere, and vowed to retaliate should US President Donald Trump escalate current tensions.
Trillion-dollar deficits come roaring back under Trump
Republicans’ tax cuts and the new spending bill Congress approved last month will send the economy surging this year to 3.3 percent growth — but will also send the deficit soaring back to the record levels of the early Obama years, the Congressional Budget Office said Monday.
Economy adds 103,000 jobs in March, unemployment steady at 4.1 percent
The economy created 103,000 new payroll jobs in March and the unemployment rate held steady at 4.1 percent, the Bureau of Labor Statistics reported Friday morning.
China responds to Trump tariffs with proposed list of 128 US products to target
The world’s second-largest economy has responded to President Donald Trump’s controversial trade tariffs.
With Red Sea mega-city, Saudis eye economic unity with Egypt, Jordan
To observers, Saudi Crown Prince Muhammad bin Salman Al Saud’s flagship idea may seem overly ambitious – to build a mega-city known as Neom along the Gulf of Aqaba and the Red Sea that extends across the borders to Jordan and Egypt.
Eleven nations – but not U.S. – to sign Trans-Pacific trade deal
Eleven countries are expected to sign a landmark Asia-Pacific trade agreement in Santiago on Thursday, as an antidote to the increasingly protectionist bent of the United States, which last year pulled out of the pact.