Business

The Trump administration's recent tariff announcements are a "seismic shift" to international trade policy, with the administration currently focused on addressing the trade deficit, which ultimately will have a cascading effect by bolstering U.S. jobs, cutting taxes for Americans and protecting the nation's supply chain, an administration official told Fox News Digital. Trump officials have offered a wide range of messaging to the public as to how President Donald Trump's "Liberation […]

Former Reagan economic advisor Art Laffer said Tuesday on "Varney & Co" that both the world and U.S. would see benefit from President Donald Trump’s tariffs and the trade negotiations that arise out of them. His appearance on "Varney & Co" came after he and Stephen Moore wrote an opinion piece titled "A Win-Win Exit Strategy for Trump on Tariffs" that was published Monday in the Wall Street Journal."The win-win strategy is […]

The White House is signaling that new tariffs on Chinese imports are taking effect after China's government missed a deadline to lift its retaliatory tariffs that were imposed in response to President Donald Trump's tariffs.White House press secretary Karoline Leavitt said Tuesday that because China declined to lift its retaliatory tariff, the president's additional 50% tariff levied on top of previously imposed tariffs of 20% and 34% took effect, bringing the total tariff […]

California’s almond industry is facing uncertainty amid the Trump administration’s recent tariffs as Gov. Gavin Newsom is advocating for foreign countries to exempt Golden State exports from any trade retaliation.The state’s almond exports amounted to nearly $4.66 billion in 2022, with the European Union, India, United Arab Emirates, China and Japan among the top recipients, according to a report from the California Department of Food and Agriculture (CFDA).FOX Business correspondent […]

While Wall Street reels from the latest market turbulence sparked by President Donald Trump’s global tariff standoff, two prominent economists say the president may be in a stronger position than many think."He’s gotten them [foreign nations] into a position where they’re going to lose their access to the U.S. market if they don’t redress these types of inequities that they’ve done," said Art Laffer, a former economic advisor to President […]

New government data shows that rising government spending on entitlement programs is outpacing tax receipts and contributing to income growth.Data from the Bureau of Economic Analysis (BEA) showed that private wages grew by $67 billion in the early months of 2025, while government payments to Americans through social programs increased by $162 billion.In January and February, the BEA's data showed that workers in private industries saw income from wages and salaries […]

Microsoft reportedly fired an employee who disrupted the company’s 50th anniversary celebration event to voice their opposition to its work supplying artificial intelligence technology to Israel.While two employees protested at the event, a Microsoft spokesperson told Fox Business that one employee "resigned and the other was "let go."As Microsoft AI CEO Mustafa Suleyman spoke at the event, Ibtihal Aboussad began shouting at him, accusing him of being "a war profiteer." […]

Variety Wholesalers is looking to open a handful of Big Lots locations on Thursday in the first of "four waves of openings" it has planned for the discount retailer’s stores it bought. The company detailed the plan late last week, saying the "first wave" will include nine stores across Kentucky, Louisiana, Mississippi, North Carolina, Tennessee and Virginia.Customers can expect "remodeled stores, a large selection of closeout deals and new merchandise categories" […]

BlackRock CEO Larry Fink said that the stock market could see declines deepen by another 20% amid uncertainty over President Donald Trump's tariffs and that CEOs are telling him they think the U.S. economy is likely already in a recession."Most CEOs I talk to would say we are probably in a recession right now," Fink told the Economic Club of New York on Monday. Tariffs are expected to make a wide […]