Money

By Bryan Mena, CNN Washington (CNN) — Americans are rarely this pessimistic about the economy. Consumer sentiment plunged 11% this month to a preliminary reading of 50.8, the University of Michigan said in its latest survey released Friday, the second-lowest reading on records going back to 1952. April’s reading was lower than anything seen during

By Alicia Wallace, CNN (CNN) — US wholesale prices fell last month, new data showed Friday, an indication that inflationary pressures weren’t necessarily building before they reach the consumer. The better-than-expected Producer Price Index reading — which showed that the prices paid to producers fell 0.4% in March from the month before and slowed sharply

By David Goldman and John Towfighi, CNN (CNN) — President Donald Trump and his advisers said this was the plan all along: Scare the bejesus out of the world by announcing astronomically high tariffs, get countries to come to the negotiating table, and — with the exception of China — back away from the most

By Nathaniel Meyersohn, CNN New York (CNN) — President Donald Trump’s deportation push is spooking Latino customers and hurting beer sales, according to Modelo and Corona owner Constellation Brands. Since taking office, Trump and his team have enacted aggressive measures to crack down on immigration, including invoking a rarely used wartime authority. The Trump administration

By Ramishah Maruf, CNN New York (CNN) — Retailers are freaking out over tariffs. President Donald Trump’s tariffs, if enacted after the 90-day suspension, will impact some of the biggest textiles exporters, including Bangladesh, Vietnam and Pakistan. The United States Fashion Industry Association — a trade organization representing the interests of importers, wholesalers and major

By Chris Isidore, CNN (CNN) — While the White House wages a trade war on behalf of US manufacturing, the largest and most important part of the American economy — one that has a trade surplus, not a gap — is under threat. The US trade gap, caused by American consumers and businesses importing more

By Jordan Valinsky, CNN New York (CNN) — Amazon shoppers can likely expect some prices to rise due to the ongoing global trade war, the company’s CEO admitted. The online retailer’s network of third-party sellers “will pass that cost on,” Andy Jassy said Thursday on CNBC, in response to the impact of tariffs affecting product

By Alicia Wallace, CNN (CNN) — Inflation slowed sharply in March, new data showed Thursday, underscoring the continued strength and resilience of the economy ahead of President Trump’s aggressive trade moves. In any other timeline, such news would stoke optimism that Americans’ cost of living is no longer surging. Instead, Thursday’s Consumer Price Index report

By Samantha Delouya, CNN (CNN) — In 1970, more than a quarter of American workers held jobs in the manufacturing sector. Today, it’s only about 8%. The Trump administration says sweeping tariffs will reverse this decades-long decline. But a vision of reinvigorated factory towns and assembly lines that defined America 50 years ago may be

By David Goldman and John Towfighi, CNN New York (CNN) — The US stock market tumbled deeply into the red on Thursday as the White House clarified its plan for a massive 145% tariff on China, escalating a trade war. The Dow, after rising nearly 3,000 points Wednesday, had a volatile day in the red

By Christian Edwards, Thom Poole and James Frater, CNN London (CNN) — The European Union has announced a 90-day pause on countermeasures against the United States, a day after President Donald Trump unveiled a similar pause on his “reciprocal” tariffs. “We want to give negotiations a chance,” European Commission President Ursula von der Leyen said

By Lisa Eadicicco, CNN New York (CNN) — If paying $1,000 for a new iPhone already sounded expensive, consumers should brace for even greater sticker shock later this year. President Donald Trump’s tariffs on foreign goods – specifically those sourced from China – are expected to heighten the prices of everyday tech products, from iPhones

By Clare Duffy and Alex Matthews, CNN New York (CNN) — Silicon Valley leaders donated to President Donald Trump’s campaign or inaugural fund. They visited him at Mar-a-Lago and sat front-and-center as he was sworn into office. But in the first three months of his presidency, their wallets have taken a hit from his policies.

By Jordan Valinsky, CNN New York (CNN) — JCPenney’s fledgling parent company, Catalyst Brands, is undergoing the second round of layoffs of its corporate employees as part of an ongoing review of the newly formed business. Catalyst said in a statement on Wednesday that it’s in the “early stages of our integration” and that following

By Elisabeth Buchwald and Kevin Liptak, CNN (CNN) — President Donald Trump announced a complete three-month pause on all the “reciprocal” tariffs that went into effect at midnight, with the exception of China, a stunning reversal from a president who had insisted historically high tariffs were here to stay. But enormous tariffs will remain on

By Jeanne Sahadi, CNN (CNN) — There is just under a week left before the official April 15 tax filing deadline. More than half of all expected federal tax returns have been filed – nearly 90 million as of March 28, according to the latest filing statistics from the Internal Revenue Service. If yours isn’t

By Ramishah Maruf, CNN New York (CNN) — The beauty stores in Manhattan’s Koreatown are packed, even on a rainy Tuesday afternoon. But this time, an associate that spoke to CNN in one of the stores had some warnings: One popular sunscreen had changed its formula since it’s now manufactured in the United States. Another

By Nathaniel Meyersohn, CNN New York (CNN) — Walmart, the largest retailer in the world, pulled its financial guidance for the quarter because of uncertainty over the impact of sweeping tariffs on China, Vietnam and other global sources of goods. Walmart said Wednesday it was unsure of its operating profit for the first quarter of