US EditionTrump was warned of empty shelves and financial turmoil from tariffs and firing Powell. His U-turn has stocks roaring higher
- On Tuesday, President Donald Trump moderated his stance on trade tensions with China and Federal Reserve Chair Jerome Powell.
- This shift occurred after a meeting where chief executives from four large US retailers voiced worries about the effects of tariff policies.
- Retail leaders, including Walmart's CEO, had previously warned that supply chain disruptions from the trade conflict could empty store shelves.
- Regarding Powell, Trump stated to reporters that he had "no intention of firing him."
- As a result, US stock markets posted significant gains on Wednesday, with the Dow Jones index rising over 1,000 points.
87 Articles
87 Articles
How U.S. business leaders are shifting plans amid tariffs and uncertainty
With tariffs in effect around the world, corporate leaders are raising concerns about the uncertainty already created. Many are now asking the White House to reconsider new tariffs that are set to come into play next month. The CEOs of Walmart and Target reportedly warned President Trump there could be empty shelves within weeks. Amna Nawaz discussed how businesses are reacting with Rich Lesser.
United CEO calls Trump’s tariffs a ‘chess game’
United Airlines CEO Scott Kirby. Alex Wong/Getty Images United Airlines’ CEO has backed Donald Trump‘s tariff plan despite the uncertainty it is causing the travel sector. “We should all take a breath,” Scott Kirby said at the Semafor World Economy Summit on Thursday. “It was just the first move in a chess game, and there are a lot of moves left to come.” “I think it’s easy to argue the tactics, but the president has a genuine desire to make thi…
Product shortages and empty store shelves loom with falling shipments from China
Retailers are warning that U.S. consumers could once again be faced with empty store shelves and the kind of supply chain snarls that marked the Covid era if President Donald Trump's tariffs on China remain at their current levels.
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