ABC Business News

Roberto Schmidt/AFP via Getty Images (NEW YORK) — The stock market surged on Wednesday afternoon after the Trump administration granted automakers a one-month exemption from tariffs imposed a day earlier. The Dow Jones Industrial Average [Read More…]

Annabelle Gordon for The Washington Post via Getty Images (NEW YORK) — Price hikes for gasoline and groceries could reach shoppers within days in the aftermath of tariffs imposed by the Trump administration, experts told ABC News. Some [Read More…]

Rainer Puster / EyeEm/Getty Images (NEW YORK) — China issued a warning on Wednesday night that it stands ready for any “type of war” with the United States in the aftermath of tariffs imposed hours [Read More…]

The owner of Texas Cafe in Rio Grande City, Texas, Becky Garza, speaks with ABC News’ Mireya Villareal in December 2024. (Mireya Villareal) (RIO GRANDE CITY, TEXAS) — Emily Williams Knight, president and CEO of [Read More…]

Kena Betancur/VIEWpress (WASHINGTON) — America’s closest neighbors, Canada and Mexico, excoriated President Donald Trump for slapping historic tariffs on goods from their countries. Trump’s broad tariffs went into effect on Tuesday, along with increased duties [Read More…]

lvcandy/Getty Images (NEW YORK) — The stock market fell in early trading on Tuesday, just hours after the Trump administration’s long-promised tariffs took effect. The Dow Jones Industrial Average dropped nearly 800 points, or 1.8%; while the [Read More…]

Kena Betancur/VIEWpress (WASHINGTON) — President Donald Trump’s broad tariffs on imported goods from Mexico and Canada went into effect on Tuesday, along with increased duties on goods from China, a move that prompted a swift [Read More…]

Andrew Harnik/Getty Images (WASHINGTON) — Economists say the uncertainty from President Donald Trump’s tariff threats and mass layoffs of government workers are starting to have a “chilling” effect on the U.S. economy. “It’s a very [Read More…]

Bonnie Cash/UPI/Bloomberg via Getty Images (NEW YORK) — Consumer confidence plummeted in February, indicating worry about the direction of the U.S. economy under President Donald Trump. A gauge of consumer confidence registered its largest monthly drop since August [Read More…]

Adam Gault/Getty Images (NEW YORK) — Americans’ household debt — including credit cards, mortgages, auto loans and student loans — is at a new all-time high $18.04 trillion, according to a report released Thursday by the Federal [Read More…]

(Anton Petrus/Getty Images) (NEW YORK) — While Elon Musk has vaulted into a powerful role overhauling government agencies and upending Washington, the world’s richest person has suffered a $106 billion drop in wealth due to [Read More…]

Frederic J. Brown/AFP via Getty Images (NEW YORK) — Consumer prices rose 3% in January compared to a year ago, ticking up from the previous month and posing an obstacle for Trump administration tariff policies [Read More…]

Chip Somodevilla/POOL/AFP via Getty Images (NEW YORK) — An Elon Musk ally hired to overhaul the U.S. Department of Treasury has a lengthy record of undertaking hardline reforms in the private sector that demoralized staff [Read More…]

(Bundit Minramun/Getty Images) (NEW YORK) — Quiksilver, Billabong, and Volcom, known for their surf and skate products, are closing stores in the United States. The parent company of the brick-and-mortar stores, Liberated Brands, filed voluntary [Read More…]

Andrew Harnik/Getty Images (WASHINGTON) — Housing prices are soaring twice as fast as overall inflation. The average rate on a 30-year mortgage topped 7% in January for the first time since last spring. Observers as disparate [Read More…]

Logan Cyrus/Bloomberg via Getty Images (WASHINGTON) — Autoworkers, farmers and alcohol distillers are among a set of U.S. workers who risk losing their jobs as a result of potential tariffs on Canada, China and Mexico, [Read More…]

lvcandy/Getty Images (NEW YORK) — The stock market fell on Monday after President Donald Trump slapped tariffs on Canada, Mexico and China, eliciting threats of retaliation and setting the stage for a trade war. The [Read More…]

(Westend61/Getty Images) (WASHINGTON) — Tariffs on goods from Mexico and Canada that are set to take effect could hike the price of a gallon of gasoline for some drivers by as much as 70 cents [Read More…]

Al Drago/Bloomberg via Getty Images (WASHINGTON) — The Federal Reserve held interest rates steady on Wednesday, just days after President Donald Trump called on the central bank to lower them. The announcement put the central [Read More…]