<!–
*{box-sizing:border-box}body{margin:0;padding:0}a[x-apple-data-detectors]{color:inherit!important;text-decoration:inherit!important}#MessageViewBody a{color:inherit;text-decoration:none}p{line-height:inherit}.desktop_hide,.desktop_hide table{mso-hide:all;display:none;max-height:0;overflow:hidden}.image_block img+div{display:none}sub,sup{font-size:75%;line-height:0}#converted-body .list_block ol,#converted-body .list_block ul,.body [class~=x_list_block] ol,.body [class~=x_list_block] ul,u+.body .list_block ol,u+.body .list_block ul{padding-left:20px} @media (max-width:620px){.desktop_hide table.icons-outer{display:inline-table!important}.image_block div.fullWidth{max-width:100%!important}.mobile_hide{display:none}.row-content{width:100%!important}.stack .column{width:100%;display:block}.mobile_hide{min-height:0;max-height:0;max-width:0;overflow:hidden;font-size:0}.desktop_hide,.desktop_hide table{display:table!important;max-height:none!important}.reverse{display:table;width:100%}.reverse .column.first{display:table-footer-group!important}.reverse .column.last{display:table-header-group!important}.row-10 td.column.first .border,.row-12 td.column.first .border,.row-8 td.column.first .border{padding:5px 5px 15px 25px;border-top:0;border-right:0;border-bottom:0;border-left:0}.row-10 td.column.last .border,.row-12 td.column.last .border,.row-14 td.column.last .border,.row-8 td.column.last .border{padding:5px 20px 25px 5px;border-top:0;border-right:0;border-bottom:0;border-left:0}.row-14 td.column.first .border{padding:5px 5px 15px 25px;border-top:0;border-right:0;border-bottom:15px solid transparent;border-left:0}}
sup, sub { font-size: 100% !important; } sup { mso-text-raise:10% } sub { mso-text-raise:-10% }
{beacon}
Business & Economy
|
Business & Economy
<!–
|
|
|
Trump stares down Feb. 1 tariff deadline
|
President Trump promised steep tariffs on longtime trading partners on Day 1. But they never materialized, raising questions about his trade agenda after months of threats.
|
© Julia Demaree Nikhinson, Associated Press
|
On his first day in office, Trump issued a trade policy memo directing federal agencies to study U.S. trade with China and the trade deal with Canada and Mexico.
While he stopped short of levying new import taxes, Trump threatened 25 percent tariffs on Canada and Mexico starting Jan. 1.
He also floated a 10 percent tariff on Chinese goods, far lower than previously calls for a 60 or even 100 percent tariff.
Some analysts noted Trump had pulled back on his China tariff threats and suggested he was having second thoughts about a potential trade war.
“This latest number is less than those threatened in the months leading up to this point, which indicates Trump may be open to caution when it comes to escalation,” Elizabeth Renter, an economist at NerdWallet, wrote in a commentary.
But open questions remain regarding the timing, size and scope of potential tariffs and the future of the United States-Mexico-Canada Agreement (USMCA).
The Hill’s Tobias Burns has more here.
|
Welcome to The Hill’s Business & Economy newsletter, we’re Aris Folley and Taylor Giorno — covering the intersection of Wall Street and Pennsylvania Avenue.
|
Did someone forward you this newsletter? Subscribe here.
|
|
|
Key business and economic news with implications this week and beyond:
|
|
|
Trump signs executive order establishing crypto working group
|
|
|
President Trump signed an executive order Thursday establishing a working group on digital assets led by David Sacks, the White House czar for artificial intelligence (AI) and cryptocurrency.
|
|
|
|
Costco’s board rejects anti-DEI motion, defends ‘respect and inclusion’
|
|
|
Costco’s board of directors rejected anti-diversity, equity and inclusion (DEI) efforts, noting the company will defend “respect and inclusion” as efforts are underway nationwide to strike the practices.
|
|
|
|
Trump shrugs off Musk’s criticism of AI project: ‘He hates 1 of the people in the deal’
|
|
|
President Trump on Thursday said he was unbothered by ally Elon Musk publicly criticizing an investment Trump touted for a new artificial intelligence (AI) infrastructure project.
|
|
|
|
Trump bashes bank CEOs at Davos: ‘Open your bank to conservatives’
|
|
|
President Trump on Thursday accused two major U.S. banks of discriminating against conservatives during a live event with the CEO of one of those firms.
|
|
|
|
Welcome to Tax Watch, a new feature in The Hill’s Business & Economy newsletter focused on the fight over tax reform and the push to extend the 2017 Trump tax cuts this year.
|
Trump: ‘We have to get Democrats’ to approve tax cuts
|
President Trump said Thursday he’s working with Democrats on extending and building off of his 2017 tax cuts — one of the top legislative priorities for Republicans, who are split on many of the law’s wide-ranging provisions.
During an event in Davos, Switzerland, Trump suggested that passing another major tax package hinges on Democratic support, even as Republican lawmakers look to advance his agenda through a budget process that would allow the GOP to sidestep Democrats.
But House Minority Leader Hakeem Jeffries (D-N.Y.) said Thursday that Trump had not reached out about a tax deal to Democrats. He added that his caucus does not approve of the Republican approach to make budget cuts while delivering tax cuts that he sees as skewed to the wealthy.
“Extreme MAGA Republicans want to enact massive tax cuts for billionaires and wealthy corporations and stick working class Americans with the bill. We’re not down with that approach.”
Read more here.
— Tobias Burns
|
|
|
Upcoming news themes and events we’re watching:
|
- Congressional negotiators have said a topline agreement for fiscal year 2025 government funding could come as soon as this weekend.
|
|
|
Branch out with more stories from the day:
|
|
|
Costco successfully defends its diversity policies as other US companies scale theirs back
|
NEW YORK (AP) — Costco shareholders rejected a proposal urging the wholesale club operator to evaluate …
|
|
|
Business and economic news we’ve flagged from other outlets:
|
- S&P 500 closes at a new record, Dow jumps 400 points as Trump pushes for low rates, oil (CNBC)
- Trump wants federal workers back at their desks. Why that may be harder than it sounds (CNN)
- WTO Chief Says Don’t ‘Hyperventilate’ Over Trump Tariff Threat (Bloomberg)
|
|
|
Top stories on The Hill right now:
|
|
|
Senate advances Hegseth nomination; Collins, Murkowski vote ‘no’
|
The Senate voted largely along party lines Thursday to advance Pete Hegseth, President Trump’s nominee to serve as secretary of Defense, brushing aside a litany of misconduct allegations and the objections of Democrats who argued he is unqualified for the job. Read more
|
|
Trump signs order directing release of JFK assassination files
|
President Trump signed an executive order Thursday directing the release of federal government documents related to the assassinations of former President John F. Kennedy, former Attorney General Robert F. Kennedy and Martin Luther King Jr. Read more
|
|
|
Opinions related to business and economic issues submitted to The Hill:
|
- From tax lottery to tax credit: A better way to help disaster victims
- 3 creative tactics for DOGE to end wasteful government spending
|
|
|
|
You’re all caught up. See you tomorrow!
|
|
|
|
Close
if ( window.checkSizeClasses && window.checkSizeClasses instanceof Function) {
window.checkSizeClasses();
}
Source link
