NEW YORK — Treasury Secretary Scott Bessent on Wednesday predicted that the administration still will be able to implement its tariff agenda regardless of whether it prevails in a pending case before the Supreme Court. Repeating assertions he had made prior to the high court hearing a month ago, Bessent cited several sections of 1962…
Fast-casual salad chain Sweetgreen is struggling as its traffic and sales continue to fall and it reports millions in losses each quarter. Its earnings worsened in its third quarter this year, as same-store sales declined 9.5% due in part to a 11.7% drop in foot traffic. Sweetgreen revolutionized the quick service industry after launching in…
U.S. small businesses are reeling under the weight of President Donald Trump‘s tariffs. Unlike large retailers, many of which have the resources and scale to blunt the effects of higher costs, many small companies facing bigger tariff bills are struggling to survive. Eunice Byun, the CEO of Material Kitchen, a small business that sells kitchenware…
Silas Stein | Picture Alliance | Getty Images Pinterest shares plummeted 20% on Wednesday after lackluster third-quarter earnings as advertising took a hit from larger retailers dealing with tariffs. The company posted a profit of 38 cents per share adj., while analysts polled by LSEG expected earnings of 42 cents per share. However, the platform’s…
A person walks down a street with shopping bags in New York City on Nov. 29, 2024. David Dee Delgado | Getty Images American consumer wallets will be billions of dollars lighter this holiday season because of President Donald Trump‘s tariffs, according to LendingTree. Sunday marked six months since Trump announced his broad “liberation day”…
U.S. President Donald Trump poses for a photo with China’s President Xi Jinping before their bilateral meeting during the G20 leaders summit in Osaka, Japan, June 29, 2019. Kevin Lamarque | Reuters The mere prospect of a U.S.-China trade deal is enough to send global markets higher. On Monday stateside, the S&P 500, Dow Jones…
Treasury Secretary Scott Bessett said Sunday he, too, has “felt pain” from China refusing to buy U.S.-grown soybeans during a trade conflict with President Donald Trump because “I’m actually a soybean farmer.” Bessent’s comment came during an interview with ABC News’ “This Week,” where he said that trade negotiations with China in the past two…
Compassionate Eye Foundation/david Oxberry | Digitalvision | Getty Images A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. Family offices have been investing with more caution since President Donald Trump’s tariff announcement…
Inflation edged higher in September amid a jump in gasoline prices and other essentials such as electricity, while President Donald Trump’s tariffs put pressure on prices for physical goods such as clothing and furniture, economists said. The consumer price index, a key inflation barometer, rose 3% in September from a year earlier, the Bureau of Labor Statistics…
My fellow Americans: Prime Minister Nakasone of Japan will be visiting me here at the White House next week. It’s an important visit, because, while I expect to take up our relations with our good friend Japan, which overall remain excellent, recent disagreements between our two countries on the issue of trade will also be…
