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The pause to major manufacturing efforts shrank oil demand by 4 million barrels per day, Goldman wrote, compared to 5 million barrels per day in 2008.
The surprise move threatened to open a new front in a global trade dispute that has slowed growth in some of the largest economies.
Government watchdog warns that Trump administration’s tariff exclusion process appears tainted by ‘improper influence’
The Department of Commerce has come under repeated fire for an opaque tariff exemption process that some say favors larger companies.
A major American steelmaker has lost 70% of its market value since Trump slapped steep tariffs on the metal last year
US Steel, a titan of the metal industry, has lost $5.5 billion in market value and idled two furnaces since Trump announced the move in March 2018.
A top Republican senator says Democratic ‘resistance’ means there’s no path forward for Trump’s new trade deal with Mexico and...
"So it’s not clear to me what the path forward is," Toomey said. "As I’ve warned the administration, there’s a lot of resistance from Democrats."
Steel stocks dropped after Trump announced the US would allow some countries to enjoy "targeted relief" from quotas imposed on steel and aluminum imports.
Trump’s trade war with China is intensifying — here’s what tariffs are, and how they could affect you
President Donald Trump imposed tariffs on another $16 billon worth of Chinese goods on Thursday, prompting China to retaliate in kind. The move is an escalation of the trade war and could have serious effects for US businesses and consumers.
Turkey's currency plunged to fresh all-time lows against the dollar Friday after President Donald Trump announced in a tweet that he would double tariffs on aluminum to 20% and on steel to 50%.
Steel stocks fell Thursday after President Donald Trump suggested he would backpedal in a trade face-off with the European Union that has sent prices of the metal soaring.
Both GM and FCA stock took losses in the markets after reporting second-quarter earnings. The CFOs of both automakers addressed higher steel costs due to Trump's tariffs. GM and FCA cut full-year profit guidance.