Latest news with #FOXBusiness'
Fox News
01-05-2025
- Business
- Fox News
'A Huge Transition Time': Tariffs Test The U.S. Economy
On Wednesday, the President reacted to news that U.S. economic growth slowed in the first quarter of this year, according to the Commerce Department. The data shows the U.S. economy contracted over the course of a few months, with Q1 gross domestic product (GDP) shrinking by 0.3 percent. FOX Business' The Big Money Show co-anchor Taylor Riggs says while this quarter of economic decline is a negative consequence of the President's tariff plans, it is not all bad news for America's economy. Riggs joins the Rundown to explain what falling GDP means, the emphasis on patience with the Trump economic agenda, and the trade deals to come. New York State Governor Kathy Hochul (D-NY) is expected to sign legislation banning cell phone use from 'bell-to-bell' starting next school year. New York will join eight states implementing such restrictions on phone use in the classroom. Florida State Representative Demi Busatta (R-Coral Gables) joins to explain how the banning of phones in schools could bring about developmental and educational benefits for students and why she is advocating for tighter phone-use restrictions in the Sunshine State. Plus, commentary from host of FOX Across America and FOX News Saturday Night, Jimmy Failla. Photo Credit: AP Learn more about your ad choices. Visit
Yahoo
17-04-2025
- Business
- Yahoo
China tariffs mean 'Christmas is at risk,' toy industry CEO says
A toy industry CEO is sounding the alarm about what impact tariffs on China could have on Christmas in the U.S. "No toys are currently being produced in China. And there are reports that major retailers here in the U.S. are starting to actually cancel orders. So, Jake, Christmas is at risk," Greg Ahearn, The Toy Association President and CEO, said on CNN's "The Lead with Jake Tapper," on Tuesday, according to The Hill. Ahearn said the 145% tariffs on China could increase prices of games, dolls, cars and other toys by 15-20% by the fall, FOX TV stations reported, which attributed The Toy Association to saying nearly 80% of the toys sold in the U.S. are sourced from China. "The Toy Association is aggressively advocating for a tariff exemption for toys and your input helps us make the strongest case possible," Kathrin Belliveau, chief policy officer at The Toy Association, said in a statement on Monday. "With tariffs of this magnitude on the table, it is more important than ever for us to understand how your business will be affected." China Halts Boeing Jet Orders The not-for-profit trade association that represents more than 950 businesses in the industry is hopeful due to a White House rule implemented last week that exempts some electronics from Chinese import tariffs. Read On The Fox Business App Last month, some U.S. toy-making companies said they were experiencing a boost and increasing domestic manufacturing amid President Donald Trump's import tariffs. Canada To Begin Tariff Talks With Trump Admin After April 28 Election, Prime Minister Says FOX Business' Lauren Simonetti reported that Ohio-based Simplay3 was "hiring 10% more workers and running this operation 24/7" to make its products. The company produces slides, playhouses, play tables and a slew of other children's toys using a rotational molding process at its facility in northeastern Ohio, per its website. Cra-Z-Art announced it planned to ramp up its toy making in America by increasing its U.S. manufacturing space by 50% to "combat the cost of tariffs for imported goods from China and other countries." Click Here To Read More On Fox Business That move will lift the toy, art and school supplies maker's domestic manufacturing space to 1.5 million square feet from its current 1 million-plus square feet, according to Cra-Z-Art. Its U.S. factories are located in Lewisburg, Tennessee, and Jacksonville, Florida. FOX Business' Aislinn Murphy contributed to this report. Original article source: China tariffs mean 'Christmas is at risk,' toy industry CEO says Sign in to access your portfolio
Fox News
11-04-2025
- Business
- Fox News
Business Rundown: Chinese Products May Not Be So Cheap Anymore
Earlier this week President Donald Trump issued 145% tariffs on goods imported from China. In retaliation, Beijing issued 125% tariffs on the United States, a drastic jump from the original 84% tariffs. That retaliatory move could have Americans feeling the impact of those tariffs here at home. Everyday items such as smartphones, clothing, and furniture are expected to see sharp price increases. To break down what this means for the US, FOX Business' Gerri Willis speaks to Taylor Riggs, co-host of The Big Money Show on the FOX Business Network. Learn more about your ad choices. Visit
Yahoo
10-04-2025
- Business
- Yahoo
Trump Commerce Secretary Howard Lutnick expects to 'cover a lot of ground' during tariff pause
One week after the Trump administration's "Liberation Day" tariff announcement, President Donald Trump's policies have reportedly sparked a wave of outreach from countries around the world ready to make a deal. With more than 75 other countries having reportedly reached out to "negotiate a solution" around trade, Trump announced he was raising tariffs on China while pausing and lowering reciprocal tariffs on other countries. Commerce Secretary Howard Lutnick explained the decision was an opportunity for the U.S. to "take on China" while giving other countries a "chance to negotiate." "I think the real deals will take some time, but we're going to start meeting with countries," Lutnick said on "Special Report" Wednesday. "We are going to cover a lot of ground in these next 90 days, and we're going to start seeing countries really do the right thing for America." Trump Says He's Raising China Tariffs Further, Pausing Reciprocal Tariffs For Others Trump announced his tariff policy pivot on Truth Social Wednesday, saying that he is immediately raising the tariffs on Chinese goods to 125% over Beijing's "lack of respect" toward America, while pausing and lowering reciprocal tariffs on other countries. Read On The Fox News App "At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable," Trump posted on his Truth Social media platform. Trump's move comes just hours after China announced it was increasing its reciprocal tariff on U.S. goods from 34% to 84%. China's escalation came after Trump's tariff went into effect shortly after midnight Wednesday, which imposed a 104% tariff on Chinese goods to the U.S. "China chose the path of going against Donald Trump," Lutnick argued. "Either China comes to the table with Donald Trump or they don't. But let's be clear, we are their biggest client by far, by far, by far. The American consumer buys everything from China. They can't afford to be without us." Despite the escalating tariff tit-for-tat between the U.S. and China, Lutnick advised other countries to "really bring it" to the negotiating table during the pause. "We've got to make fair deals for America. And Donald Trump said, for the big countries, the lead negotiator of those transactions is going to be Donald Trump. He wants to do it. He wants to drive it," Lutnick said, celebrating the opportunity to "unleash" American industries and foster "incredible growth" in the U.S. Although Trump's tariff policies initially sparked market turbulence, his policy pivot Wednesday sent the stock market into rebound mode. FOX Business' Stephen Sorace contributed to this article source: Trump Commerce Secretary Howard Lutnick expects to 'cover a lot of ground' during tariff pause
Fox News
04-04-2025
- Business
- Fox News
Business Rundown: Stocks Tumble On Trade War Fears
Post-President Trump's liberation day, his tariff plans have sparked some market panic–handing the Dow and S&P 500 their biggest one-day losses since 2020. China has responded in kind to the President's tariffs, they are applying a 34 percent tariff on all imported U.S. goods. To break down that China news and the panicked market moves, FOX Business' Gerri Willis speaks to founder and CEO of Island Capital Investments Anthony Esposito. Photo Credit: AP Learn more about your ad choices. Visit
