Billy Long, a former Republican congressman, will no longer serve as the tax agency’s head. Treasury Secretary Scott Bessent will oversee the agency as acting commissioner.
The Trump administration levied a hefty tariff on goods that are moved through other countries, but it has not yet fully explained its plans.
Isador Lubin, chief of the Bureau of Labor Statistics, presents data to a Senate committee in 1937. Library of CongressMany financial and political analysts are trying to assess the impact of President Donald Trump’s decision to fire U.S. Bureau of Labor Statistics Commissioner Erika McEntarfer on Aug.
The duties, which the president announced last week, took effect for about 90 countries just after midnight.
The S&P 500 ended the day 0.1 percent lower, a muted move compared to the upheaval when tariffs were first announced in early April.
Goods shipped from the country face a 39 percent tariff in the U.S., which companies warn will have dire consequences if President Trump cannot be quickly dissuaded.
The tariffs are driving up prices on everyday goods as businesses warn they can no longer absorb costs, leaving consumers to foot the bill.
Britain’s economy is driven by domestic factors more than global ones right now, the governor of the Bank of England said on Thursday, when the central bank cut interest rates.
Hulk Hogan was arguably WWE's biggest star in the 1980s. Wally McNamee/Corbis via Getty ImagesHulk Hogan’s death by heart attack at age 71 came as a shock to many fans of the larger-than-life wrestler who’d earned the nickname “The Immortal.”
Thailand, Vietnam and other countries in the region face much higher tariffs on exports with Chinese-made components. But questions remain on how the U.S. defines a locally made product.
