“All of this rhetoric about cutting trillions of dollars of spending has come to nothing — and the tax bill codifies that,” said Michael Strain, director of economic policy studies at the American Enterprise Institute, a right-leaning think tank. “There is a level of concern about the competence of Congress and this administration and that
The White House has viciously lashed out at anyone who has voiced concern about the debt snowballing under Trump, even though it did exactly that in his first term after his 2017 tax cuts. Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. White House press secretary
WASHINGTON (AP) — President Donald Trump faces the challenge of convincing Republican senators, global investors, voters and even Elon Musk that he won’t bury the federal government in debt with his multitrillion-dollar tax breaks package. The response so far from financial markets has been skeptical as Trump seems unable to trim deficits as promised. “All
TOKYO (AP) — Japan’s Prime Minister Shigeru Ishiba said Friday that he held telephone talks with U.S. President Donald Trump and agreed to hold “productive” discussions at an upcoming tariff talks between the two sides. “Investment, not tariffs,” Ishiba told reporters after the talks. He said Japan’s position to keep pushing Washington to drop all
TOKYO (AP) — Japan’s massive holdings of U.S. Treasurys can be “a card on the table” in negotiations over tariffs with the Trump administration, Finance Minister Katsunobu Kato said Friday. “It does exist as a card, but I think whether we choose to use it or not would be a separate decision,” Kato said during
GENEVA (AP) — Swiss pharmaceuticals powerhouse Roche announced Monday it plans to invest $50 billion in the United States over the next five years, creating 12,000 jobs. The Basel-based company, whose array of products includes cancer medicines and multiple sclerosis treatment Ocrevus, said the investment would go toward high-tech research and development sites and new
HONG KONG — Global shares were mostly lower Friday as investors mulled uncertainties brought by U.S. President Donald Trump’s latest tariffs. The future for the S&P 500 lost 0.4% and that for the Dow Jones Industrial Average retreated 0.2%. In Europe, Germany’s DAX declined 0.6% to 22,537.65 and the CAC 40 in France slid 0.5%