CNN Business/Consumer

By David Goldman and Elisabeth Buchwald, CNN (CNN) — President Donald Trump announced Friday that he would set tariffs on steel imported into the United States at 50%, double their current rate. At a US Steel facility in West Mifflin, Pennsylvania, Trump said he had a “major announcement.” To an applauding crowd of US Steel

By Brian Stelter, CNN (CNN) — PBS and one of its member stations in northern Minnesota sued President Trump and several cabinet officials on Friday over Trump’s executive order targeting the public broadcasting system. PBS alleges that the president’s May 1 order violated the First Amendment of the Constitution and the Administrative Procedure Act. The

By Auzinea Bacon, CNN (CNN) — JPMorgan Chase CEO Jamie Dimon sounded a warning Friday on the fractious US relationship with China — and on “the enemy within.” “China is a potential adversary — they’re doing a lot of things well, they have a lot of problems,” Dimon said at the Reagan National Economic Forum

By John Towfighi, CNN New York (CNN) — US stocks closed out a wild month with a whimper as tariff jitters returned to Wall Street. Stocks bounced around in a choppy trading session on Friday after President Donald Trump said China has “totally violated” its trade agreement with the United States — without specifying details

By Bryan Mena, CNN Washington (CNN) — Americans didn’t feel any sense of optimism about the US economy this month, despite tensions easing somewhat in President Donald Trump’s ever-evolving trade war. Consumer sentiment held steady in May compared to the prior month at a final reading of 52.2, the University of Michigan said in its

By Chris Isidore, CNN (CNN) — President Donald Trump travels to Pittsburgh Friday to celebrate a deal he once vowed to oppose – Japanese steelmaker Nippon Steel’s long-announced plans to buy iconic American steelmaker US Steel. The deal to have a Japanese company purchase US Steel has drawn bipartisan opposition. President Joe Biden blocked the

By Alicia Wallace, CNN (CNN) — American consumers reined in their spending in April following a tariff-fueled buying binge the month before, according to new data released Friday that also showed inflation cooled off again. Friday’s report from the Commerce Department showed that consumer spending rose 0.2% last month, a weaker-than-anticipated reading but a notable

By Issy Ronald, CNN (CNN) — Haribo is recalling bags of its fizzy cola bottles in the Netherlands after cannabis was found in some of them. Authorities began investigating when several people, including children, became unwell after eating candy from one-kilo (2.2-pound) bags of Haribo Happy Cola F!ZZ, the Netherlands Food and Consumer Product Safety

CNN, POOL, TRUTH SOCIAL, @REALDONALDTRUMP, Truth Social/@realDonaldTrump By Vanessa Yurkevich, CNN (CNN) — US ports have been seeing pandemic-level declines in imports, so good news on tariffs was just what port officials were hoping for. For awhile on Wednesday, it looked like retailers and ports got exactly that, with a court blocking many of President

By Nathaniel Meyersohn, CNN New York (CNN) — Tariffs are slamming Gap. Gap said Thursday that if President Donald Trump’s 30% tariffs on China and 10% duties on most imports from other countries remain at current levels, it could cost the company $100 million to $150 million this year. Gap (GAP) stock plunged 15% during

By Clare Duffy, CNN New York (CNN) — The chief executive of one of the world’s leading artificial intelligence labs is warning that the technology could cause a dramatic spike in unemployment in the very near future. He says policymakers and corporate leaders aren’t ready for it. “AI is starting to get better than humans

CNN By Ramishah Maruf, CNN CNN (CNN) — Academics and economists have long warned that rapidly advancing artificial intelligence will wipe out jobs and upend the global economy. Now that call is coming from inside the house. On Thursday, Anthropic CEO Dario Amodei warned on CNN that the technology will spike unemployment sooner than political

By Dan Berman and Ramishah Maruf, CNN (CNN) — A federal appeals court has paused Wednesday night’s ruling from the Court of International Trade that blocked President Donald Trump’s tariffs. The United States Court of Appeals for the Federal Circuit’s ruling restores Trump’s ability to levy tariffs using the emergency powers he declared earlier this

By Bryan Mena, CNN Washington (CNN) — The US economy shrank slightly less in the beginning of the year than previously reported, new data shows, but it was still the first quarterly decline since 2022, in a sign of how President Donald Trump’s chaotic and aggressive tariff regime is affecting American consumers and businesses. Gross

By David Goldman, John Towfighi and Alicia Wallace, CNN New York (CNN) — Stocks edged higher on Thursday as Wall Street assessed the outlook for President Donald Trump’s tariff agenda, which remains in limbo as federal courts deliberate its legality. The Dow closed higher by 117 points, or 0.28%, after fluctuating throughout the day. The

By Ramishah Maruf, CNN New York (CNN) — Hailey Bieber’s beauty brand rhode sold to budget makeup powerhouse e.l.f. Beauty for $1 billion on Wednesday. It’s e.l.f.’s largest acquisition to date, eclipsing its $355 million purchase of skin care brand Naturium in 2023. Founded in 2022, Bieber’s brand racked up $212 million in net sales

By Elisabeth Buchwald, CNN (CNN) — The Trump administration has effectively cut off some American companies from selling software used to design semiconductors to China, the Financial Times reported on Wednesday. Impacted companies include Cadence, Synopsys and Siemens EDA, according to the FT’s reporting, which cited people familiar with the matter. CNN was not immediately

By Samantha Delouya and Hadas Gold, CNN (CNN) — A group of Tesla investors is urging Elon Musk to commit at least 40 hours a week to running the electric vehicle company, arguing his undivided attention is needed to repair Tesla’s faltering sales and stock price volatility. “Mr. Musk’s outside endeavors appear to have diverted

CNN By Elisabeth Buchwald, CNN (CNN) — Wall Street has been riding a historic roller coaster the past few months due to President Donald Trump’s on-again, off-again tariff threats. Now, investors are learning to take his words with a grain of salt — and a bit of salsa, too. That’s because there’s a new type