Author: ALJAZEERA

United States President Donald Trump has announced a 25 percent tariff on imported cars and car parts, his latest salvo in a widening trade war that has stoked tensions with partners and allies. Speaking at the White House on Wednesday, Trump said the tariffs would “take back” money from foreign countries that have been “taking our jobs” and “our wealth”. “They’ve taken so much out of our country – friend and foe. And, frankly, friend has oftentimes been much worse than foe,” he said at the Oval Office. “This is very modest.” Calling the move “exciting”, Trump, who has pledged…

In July, Boeing agreed to plead guilty to a criminal fraud conspiracy charge after two fatal 737 MAX crashesA United States judge has abruptly set a June 23 trial date in the Department of Justice’s criminal fraud case against Boeing stemming from the plane maker’s alleged misrepresentations to US regulators about a key system on the 737 MAX. The judge set the trial date on Tuesday. In July, Boeing agreed to plead guilty to a criminal fraud conspiracy charge after two fatal 737 MAX crashes, and to pay a fine of up to $487.2m. US District Judge Reed O’Connor had previously…

Officials, including California’s attorney general, question what will happen to the data collected by the firm.Genetic testing firm 23andMe has filed for Chapter 11 bankruptcy protection in the United States amid weak demand and losses from a 2023 data breach. Its co-founder and CEO has resigned. San Francisco-based 23andMe announced on Sunday that it will look to sell “substantially all of its assets” through a court-approved reorganisation plan. The company’s shares fell 50 percent to 88 cents in Monday trading after co-founder Anne Wojcicki, who made multiple failed takeover bids, resigned as CEO. 23andMe did not say whether there are…

Majority of Americans disapprove of Trump’s economic management amid stock market turmoil, polls show.United States President Donald Trump’s handling of the economy is facing growing pushback from Americans amid wild swings in the stock market and growing fears of a recession, new polling shows. In a CNN/SSRS poll released on Wednesday, 56 percent of respondents said they disapproved of Trump’s economic management – higher than at any point during his first term in office. The poll had better news for Trump on his other signature issue of immigration, with 51 percent of respondents expressing support for his strict enforcement policies.…

President Donald Trump’s tariffs on the imports of steel and aluminium by the United States are sending shockwaves through global markets and escalating tensions with key trading partners, including Canada, Mexico and the European Union. Some countries are fighting back with retaliatory tariffs, others are seeking exemptions, and a few are trying to negotiate their way out of the 25 percent tariffs. So, who is escalating the trade war, who is trying to avoid it, and what does this mean for the industries that rely on these metals? Who supplies steel and aluminium to the US? Canada, Brazil, and Mexico…

Is Elon Musk planning to use artificial intelligence to run the US government? That seems to be his plan, but experts say it is a “very bad idea”. Musk has fired tens of thousands of federal government employees through his Department of Government Efficiency (DOGE), and he reportedly requires the remaining workers to send the department a weekly email featuring five bullet points describing what they accomplished that week. Since that will no doubt flood DOGE with hundreds of thousands of these types of emails, Musk is relying on artificial intelligence to process responses and help determine who should remain…

Benchmark S&P 500 falls 1.39 percent, dragging index more than 10 percent below its February peak.The United States’ stock market has taken another tumble following US President Donald Trump’s threat to impose steep tariffs on wine and other alcoholic products from the European Union. The benchmark S&P 500 fell 1.39 percent on Thursday, dragging the index into a correction – Wall Street lingo for a decline of 10 percent or more from the peak. Corrections are not unusual in the US stock market, which has consistently recovered from losses over its history, though they can be unsettling for investors in…

Officials say US military’s Southern Command exploring multiple options, from working with Panama to military action.The Pentagon is reportedly exploring military options for the Panama Canal to ensure ongoing US access to the strategically important waterway, following a request from the White House. The Reuters news agency reported on Thursday that a US official, who spoke on condition of anonymity, said a document, described as an interim national security guidance by the new Trump administration, called on US forces to look at military options to safeguard access to the Panama Canal. Responding to reports of possible US military action, Panama’s…

The US stock market has had a bumpy ride since United States President Donald Trump’s election in November. After hitting record highs in the aftermath of Trump’s victory, US stocks have shed trillions of dollars amid his dizzying back-and-forth announcements on tariffs and growing fears of a recession. While Trump has played down the turbulence as a temporary “period of transition” on the road to a stronger economy, supporters and critics of the US president alike have speculated without evidence that he may be trying to crash the stock market on purpose. What is happening with the US stock market?…

British chancellor to meet regulators on Monday to announce ‘action plan’ for cutting red tape.The United Kingdom’s Labour Party government is set to announce a “radical shake-up” of bureaucracy aimed at cutting administrative costs for businesses by a quarter. British Chancellor of the Exchequer Rachel Reeves is set to meet with regulators on Monday to announce the “action plan” for cutting red tape, His Majesty’s Treasury said in a statement on Sunday. Under the plan, the government will cut the number of regulators, streamline the implementation of environmental regulations for major projects, and slash “costly red tape”, including hundreds of…