WASHINGTON (AP) — President Donald Trump’s tax and budget bill would increase deficits by $2.8 trillion over the next decade after factoring in other economic effects. That’s according to a more fulsome analysis released Tuesday by the Congressional Budget Office. The report finds that the bill would increase interest rates and boost interest payments on…… MORE
Toy Company Challenges Trump’s Tariffs Before The Supreme Court In Long Shot Bid For Quick Decision
WASHINGTON (AP) — An Illinois toy company is challenging Donald Trump’s tariffs at the Supreme Court. Learning Resources Inc. filed an appeal asking the Supreme Court to take up the case soon rather than let it continue to play out in lower courts. The company argues the president illegally imposed tariffs under an emergency powers…… MORE
Americans Turn Cautious And Retail Sales Slide After A Spring Rush To Beat Tariffs
WASHINGTON (AP) — Retail sales fell sharply in May as consumers pulled back after a sharp increase in spending in March to get ahead of President Donald Trump’s sweeping tariffs on nearly all imports. Sales at retail stores and restaurants dropped 0.9% in May, the Commerce Department said Tuesday, after a decline of 0.1% in…… MORE
Senate Passes Crypto Regulations, Sends To House Without Addressing Trump’s Investments
WASHINGTON (AP) — The Senate has passed legislation that would regulate a form of cryptocurrency known as stablecoins. It is the first of what the industry hopes will be a wave of bills to bolster its legitimacy and reassure consumers following its heavy spending in last year’s election. The bill advanced through the Senate by…… MORE
US And UK Announce A Trade Deal, But Steel Imports Are Still Being Negotiated
KANANASKIS, Alberta (AP) — U.S. President Donald Trump and British Prime Minister Keir Starmer say they have signed a trade deal that will slash tariffs on U.K. auto and aerospace industry imports, but they are still discussing how to handle steel production. The pair spoke to reporters Monday at the Group of Seven summit. Trump…… MORE