Andrea Shalal

Yellen said the Biden administration's actions reduced major risks, and noted that inflation fell earlier in the US than in other rich countries.

NEW YORK (Reuters) – U.S. Treasury Secretary Janet Yellen said on Wednesday U.S. President-elect Donald Trump’s plan to set up a new government agency to collect tariffs would duplicate an existing agency and was unlikely to save money.

“If we do not renew and extend, then we will be facing an economic calamity,” Bessent told the U.S. Senate Finance Committee. “We will see a gigantic middle class tax increase.”

The World Bank on Thursday warned that U.S. across-the-board tariffs of 10% could reduce already lackluster global economic growth of 2.7% in 2025 by 0.3 percentage point if America's trading partners retaliate with tariffs of their own.

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President Donald Trump said during his inauguration he will declare a national energy emergency aimed at boosting oil and gas production.

U.S. President Donald Trump's envoy for special missions, Richard Grenell, on Monday said he spoke with multiple officials in Venezuela and would begin meetings early Tuesday, days after the outgoing Biden administration imposed new sanctions on the government of President Nicolas Maduro.

By Andrea Shalal WASHINGTON (Reuters) - U.S. President Donald Trump's envoy for special missions, Richard Grenell, on Monday said he spoke

WASHINGTON (Reuters) – U.S. President Donald Trump on Monday said he was thinking of imposing 25% tariffs on imports from Canada and Mexico because they were allowing many people to cross the border as well as fentanyl.

WASHINGTON (Reuters) – The attendees at a U.S. presidential inauguration do not often resemble the annual gathering of the world’s richest in Davos, Switzerland, which kicked off on Monday, but the parallels were hard to ignore as Donald Trump was sworn in as U.S. President.