U.S. companies have begun to respond to President Donald Trump’s proposed tariffs on Mexican imports with mixed comments on the effects they would have on them and their customers.
The United States has rejected separate requests from General Motors Co and Chinese-owned Volvo Cars for an exemption to a 25% U.S. tariff on their Chinese-made sport utility vehicle models.
Major world stock markets edged higher and the U.S. Treasuries market resumed its recent rally on Wednesday as investors bet that the U.S. Federal Reserve would cut interest rates and help boost a sluggish global economy.
Signs that the economy is losing momentum hung over a Federal Reserve summit for a second straight day as policymakers hinted they would be ready to cut interest rates if the U.S. trade war threatens a decade-long expansion.
White House trade adviser Peter Navarro said on Wednesday a U.S. plan to impose tariffs on Mexican goods may not have to take effect, offering a glimmer of hope for Mexico and American businesses concerned that the levies could badly hit both consumers and companies.
Mexican President Andres Manuel Lopez Obrador said he is “optimistic” that talks in Washington aimed at averting across-the-board tariffs on Mexican exports to the United States can reach an agreement.
U.S. stocks gained on Wednesday after data showed that the private sector added fewest jobs in May since 2010, raising the odds that the Federal Reserve would cut interest rates to counter a potential slowdown.
White House trade adviser Peter Navarro said on Wednesday that U.S. tariffs on Mexican goods may not have to take effect because Washington now has Mexico’s attention on the issue.
U.S. stocks rose at the open on Wednesday after a report showed smallest monthly private jobs growth in May since 2010, raising bets that the central bank would lower interest rates to counter any economic slowdown.
Carnival Corp said on Wednesday it will no longer sail to Cuba following the Trump administration’s ban on cruises to the Caribbean island.
Britain’s former telecoms monopoly BT will consolidate its UK offices from 300 locations to roughly 30 sites while pressing ahead with plans to leave its St Paul’s headquarters in London, the company said on Wednesday.
U.S. private employers added 27,000 jobs in May, well below economists’ expectations and the smallest monthly gain in more than nine years, a report by a payrolls processor showed on Wednesday.
U.S. stock index futures pared gains on Wednesday after data showed that private employers added 27,000 jobs in May, falling far short of economists’ expectations.
Mexican officials will seek to persuade the White House in talks hosted by U.S. Vice President Mike Pence on Wednesday that their government has done enough to stem immigration and avoid looming tariffs.
Global stocks gained for a third straight day on Wednesday, bolstered by investors’ growing hopes that the Federal Reserve might cut interest rates this year to boost a slowing global economy, while the dollar languished near seven-week lows.
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