President Financial News

United States President Donald Trump on Wednesday expressed gratitude to the Pakistani government for assisting in the arrest of a key terrorist involved in the 2021 Kabul airport bombing. «Three and a half years ago, a [Daesh] terrorist killed 13 American service members and countless others in the Abbey Gate bombing,» Trump said during his address to a joint session of Congress. He added, «Tonight, I am pleased to announce that we have just apprehended the top terrorist responsible for that atrocity. And he is right now on his way here to face the swift sword of American justice.» The attack at Kabul airport in August 2021 claimed the lives of 13 US service members and around 170 Afghan civilians during the chaotic withdrawal of American forces from Afghanistan.

Al Green, a Democrat from Texas, was removed from the House of Representatives chamber on Tuesday night after repeatedly heckling President Donald Trump during his speech to a joint session of Congress. House Speaker Mike Johnson, a Republican from Louisiana, ordered Green's removal after multiple warnings.

Elon Musk's effort to slash U.S. government spending and the size of the federal workforce. However, the view it offers of the cost-cutting enterprise is often muddied by major errors. President Donald Trump and Musk's Department of Government Efficiency say that in just six weeks they have already saved American taxpayers tens of billions of dollars through rapid-fire moves to cancel contracts, fire workers and root out fraud and waste in the government. The only support for the assertions comes from data posted by DOGE to a newly created website that went live last month. But in the last two weeks alone, DOGE has deleted hundreds of claimed savings, including some of the largest items it had previously boasted about.

BEIJING — China on Wednesday announced plans to raise its fiscal deficit to «around 4%» of gross domestic product, a rare increase that marks a meaningful shift in policy.

The US Department of Justice is currently pursuing two anti-monopoly cases against Google — one over search and another over advertising technology. «We routinely meet with regulators, including with the DOJ to discuss this case. As we've publicly said, we're concerned the current proposals would harm the American economy and national security,» a Google spokesperson said.

China's yuan was firm in offshore trading following a rally of about 0.7% in the prior session, as annual parliamentary sessions of the National People's Congress (NPC) kicked off with Beijing retaining a 5% economic growth goal for 2025.

Donald Trump's much anticipated speech got underway on the wee hours of Wednesday and the 78-year-old Republican hailed the country's achievements in the last 40-odd-days and said that 'America is back'. «We have accomplished more in 43 days than most administrations accomplish in four years or eight years — and we are just getting started,» Trump said as chants of «USA, USA!» erupted from the lawmakers seated in the US Capitol. «The American Dream is surging — bigger and better than ever before. The American Dream is unstoppable, and our country is on the verge of a comeback the likes of which the world has never witnessed, and perhaps will never witness again.»

egg prices continue to rise across the US, President Donald Trump is likely to outline his plans to curb soaring costs that have burdened American households in his address to Congress. According to excerpts obtained by the BBC, Trump will say President Joe Biden «let the price of eggs get out of control—and we are working hard to get it back down.» Earlier, the Trump administration has unveiled a $1-billion plan to combat the ongoing bird flu crisis, which has significantly reduced egg production across the country. U.S. Department of Agriculture (USDA) Secretary Brooke Rollins announced on February 26 that most of the funds would be allocated to assisting farmers, expanding biosecurity programs at egg-laying facilities, and researching a vaccine to control the virus.

Subscribe to enjoy similar stories. President Trump won the Presidency a second time by promising working-class voters he’d lift their real incomes. Which makes it all the more puzzling that he’s so intent on imposing tariffs that will punish those same Americans.

Subscribe to enjoy similar stories. When Warren Buffett lambasted US President Donald Trump’s imposition of tariffs as “an act of war to some degree," he wasn’t wrong. Of course, there’s no conventional battle going on.

Donald Trump on Tuesday is expected to lay out for Congress and the American people his plans for the weeks and months ahead after a turbulent first few weeks in office, which have featured a dismantling of the federal government, tensions with America's allies and a trade war compounding economic uncertainty. His joint address to Congress is the latest marker in Trump's takeover of the nation's capital, where the Republican-led House and Senate have done little to restrain the president as he and his allies work to slash the size of the federal government and remake America's place in the world. With a tight grip on his party, Trump has been emboldened to take sweeping actions after overcoming impeachments in his first term and criminal prosecutions in between his two administrations. Trump's theme will be the «renewal of the American dream,» the White House said, and he was expected to lay out his achievements as well as appeal to Congress to provide more money to finance his aggressive immigration crackdown.

global selloff in markets. Equities opened lower in Sydney and mixed in Tokyo after mayhem on Tuesday that saw a global index approach levels from the start of this year. Contracts for the S&P 500 rose 0.8% — after the index dropped 1.2% on Tuesday — echoing gains in late trading after Lutnick hinted at a compromise with Canada and Mexico. That was within hours of the US imposing the largest set of new tariffs in nearly a century on goods from its neighbors and China.

Subscribe to enjoy similar stories. Early indicators suggest that the US economy is slowing down. This, even before the adverse effect of President Donald Trump’s policies such as additional import tariffs kick-in.

India marking the 20th anniversary of the Bengaluru office for the Wall Street bellweather, Goldman Sachs CEO David Solomon spoke with ET’s Arijit Barman, emphasizing that the global economy will remain deeply interconnected despite the rising intensity of trade tariff rhetoric. During his brief one-day visit to India where the firm has invested over $8.5 billion, Solomon will stop at the firm’s Bengaluru campus where Goldman Sachs’ technology engineers and quants are driving innovation—developing systems that span from trade execution and risk management to advancing the immersion of AI with their global colleagues throughout the firm.

The actions, which could upend nearly $2.2 trillion in two-way annual trade, went live hours after Trump declared that all three countries had failed to do enough to stem the flow of the deadly fentanyl opioid and its precursor chemicals into the US. China announced additional tariffs of 10-15% on certain US imports from March 10. It also slapped export and investment curbs on 25 US firms on grounds of national security. «Trying to exert extreme pressure on China is a miscalculation and a mistake,» a foreign ministry spokesperson said in Beijing, adding that China had never succumbed to bullying or coercion.

Tariffs on Canada and Mexico took effect Tuesday — and they're bound to raise prices for consumers, sometimes in unexpected ways, according to economists.

Trump justifies tariffsTrump has defended the tariffs as necessary for national security and economic growth. "These tariffs will bring back American jobs, protect our industries, and force our trading partners to treat us fairly," he said in a press conference.He accused Canada and Mexico of failing to curb illegal immigration and drug trafficking, particularly fentanyl.

It looks like the trade war Canada has been fearing for weeks has arrived.

United States President Donald Trump’s tariffs will “disproportionally affect the less fortunate” economically, says the head of Canada’s largest bank.

United States President Donald Trump’s proposed tariffs are expected to come into effect this week, a move that promises to have a wide-ranging impact on the Canadian economy and its relationship with its southern neighbour.