A Walmart store in Martinez, California, US, on Monday, Nov. 18, 2024. Walmart Inc. is scheduled to release earnings figures on November 19. David Paul Morris | Bloomberg | Getty Images Walmart‘s CFO John David Rainey said the retailer would likely have to raise prices on some items if President-elect Donald Trump’s proposed tariffs take effect. “We never want to raise prices,” he said in an interview with CNBC on
United States President Joe Biden and President Xi Jinping of China will meet on Saturday in what is expected to be their last face-to-face meeting during Biden’s term as Beijing braces for a Donald Trump presidency in Washington. The two leaders are attending a two-day heads of state meeting of the Asia Pacific Economic Cooperation group in Lima, Peru, that began on Friday. Saturday’s meeting will be the third time
BBC Morgan Davies and Ellie Bryan got their water bills cut after a no-fault eviction left them struggling The number of households seeking help with water bills in England and Wales rose by more than 250,000 last year, according to figures seen by the BBC, but support varies widely depending on where people live. Water companies spent almost £259m on “social tariffs” last year – discounted bills to help low-income
Extreme tariffs proposed by U.S. presidential candidate Donald Trump would interrupt the path of disinflation and could lead to higher interest rates, according to the head of the Institute of International Finance. “The assumption is you’ll have higher inflation, higher interest rates than you would have in the absence of those tariffs,” Tim Adams, president and CEO of the IIF financial services industry trade group, told CNBC’s Karen Tso on
An escalation of trade and tariffs tensions between the U.S. and China would have “costly” economic consequences around the world, Gita Gopinath, deputy managing director of the International Monetary Fund told CNBC on Wednesday. “We are seeing geopolitically driven trade around the world, which is why when you look at overall trade to GDP that’s holding up fine, but who’s trading with whom is certainly changing,” she said. The U.S.
Shoppers walk through the Fashion Centre at Pentagon City, a shopping mall in Arlington, Virginia, February 2, 2024. Saul Loeb | Afp | Getty Images For retailers and consumers finally feeling some relief from inflation, President-elect Donald Trump’s tariffs proposal introduces fresh uncertainty around how prices could change during his presidency, analysts said Wednesday. Trump, who NBC News projects won a second term in a decisive victory, said during his
The UK could face a £22bn hit to its exports if Donald Trump imposes a blanket 20% tariff on all imports into the US, according to a new analysis. UK exports to the world could fall more than 2.6% due to lower trade with the US and knock-on effects globally, economists at the University of Sussex’s Centre for Inclusive Trade Policy (CITP) said. This fall could happen if the President-elect
President-elect Donald Trump likely will return to cornerstones of his previous economic platform such as tariffs, lower taxes and sanctions when he assumes office in January, his former Treasury secretary said Thursday. Steven Mnuchin, who held the post throughout Trump’s first term from 2017-21, told CNBC that he sees those items as critical to the Republican’s agenda. Tax cuts are “a signature part of his program,” Mnuchin said in a
