Trump to impose reciprocal tariffs on global trade
President Donald Trump plans to set reciprocal tariffs to match what other countries charge, eyeing a sweeping shift from decades of negotiated import taxes. The move aims to rebalance trade deficits, with officials arguing tariffs level the field while economists warn they raise consumer costs and disrupt markets.
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Stocks swing as Trump tariffs spark global market turmoil
U S markets roiled as President Trump’s looming Liberation Day and 15 percent reciprocal tariffs drive risk. The S P 500 rose 0.6 percent after a morning dip, Dow gained 417 points, Nasdaq slipped 0.1 percent as safe-haven gold and Treasuries firmed. Goldman Sachs economists flag 35 percent recession risk and higher inflation, while strategists at Morgan Stanley warn policy uncertainty may persist. The scenario hinges on Wednesday tariff decisions and potential reactions across economies.
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Rocket to acquire Mr Cooper in $9.4 billion all stock deal
Rocket Cos. will buy Mr Cooper Group in an all stock transaction valued at 9.4 billion dollars, weeks after purchasing Redfin. The merger aims to create a mortgage giant representing about one in six U.S. mortgages and nearly 7 million additional clients, expanding loan volumes and reducing acquisition costs. Jay Bray will become Rocket Mortgage CEO in the combined company.
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Trump targets ticket scalpers with new executive action
President Trump signs an order aimed at reducing price gouging by middlemen in live events. The plan directs the attorney general and treasury to enforce IRS rules on scalped tickets and tasks the FTC with price transparency and enforcement against unfair practices in the secondary market. The action cites a 132.6 billion dollar industry supporting 913,000 jobs and notes past battles with Ticketmaster Live Nation over monopoly concerns.
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