Perplexity AI bids on TikTok, CEO says it's a win-win for Trump
EXCLUSIVE: The CEO of AI startup Perplexity, Aravind Srinivas, confirmed his company’s bid for TikTok U.S. and said the deal checks all the boxes for investors and President Donald Trump, including an ownership stake for the U.S. "We’re not trying to be disruptive to the existing shareholders, but we're also trying to get what President Trump wants, which is about American control and also the government getting equity in the new entity. I think that we are offering both of that," Srinivas told FOX Business in his first on-the-record comments since news of the deal leaked last month.
Markets fall following tariff turbulence
Stocks fell Monday in turbulent trading linked to President Donald Trump's tariff announcements. The Dow Jones Industrial Average fell 0.3%, while the broader S&P 500 declined 0.8%. The tech-heavy Nasdaq 100 lost 1.2%. The Cboe Volatility Index, known as Wall Street’s “fear” gauge, which anticipates major market swings, spiked above 18 — approaching highs seen over the last two years.
Republicans downplay worries about rising costs due to Trump’s tariffs
Homeland Security Secretary Kristi Noem on Sunday defended President Donald Trump's decision to impose tariffs on China, Canada and Mexico, saying in an interview: "Economically, yes, they will, they will feel pain. They will feel what the consequences are, and we'll be able to continue to go forward with the president, who is strong, who is putting America first." Noem emphasized the Trump administration's justification for imposing tariffs on the three countries, saying all three have not been cooperative in U.S. efforts to curb the flow of fentanyl into the country. She dismissed the fact that the amount of fentanyl intercepted at the northern border last year was a small fraction of the amount intercepted at the southern border, according to statistics from Customs and Border Protection.
Egg prices have soared as farmers contend with bird flu outbreak
No wonder American consumers are feeling shell shock. The average price for a dozen eggs in the United States has jumped 50% in the past year, and the cost increase appears to have accelerated since November, the month Donald Trump was elected president, according to data from the U.S. Bureau of Labor Statistics. In the week ending Jan. 18, a dozen yolks cost $5.29, a steep climb from February 2024, when the price was a little over $3.50 a dozen, data compiled by the NIQ consumer research group shows. In November, the price of a dozen eggs edged up to $3.65, and in December the price rose again to $4.15, the BLS figures showed.
Ontario to remove U.S. alcohol from shelves after Trump’s tariffs announcement
Ontario will pull all American alcohol from its government-run liquor shelves beginning Tuesday in response to U.S. President Donald Trump’s 25% tariffs on Canadian imports. Outlets of the Liquor Control Board of Ontario will also take U.S. products out of its catalog so other retailers can’t order or restock those items, according to a Sunday statement by Premier Doug Ford. “Every year, LCBO sells nearly $1 billion worth of American wine, beer, spirits and seltzers. Not anymore,” Ford said. “There’s never been a better time to choose an amazing Ontario-made or Canadian-made product.”
Trump's antagonism risks pushing U.S. allies closer to China
WASHINGTON — If foreign leaders have learned anything about Donald Trump’s presidency, it may be that they’re better off as America’s foe than its friend. So far, Trump has insulted Canada, played hardball with Denmark over the future of Greenland, cowed Colombia into repatriating undocumented immigrants on his terms and threatened to wrest from Panama the eponymous canal that is a source of great national pride. All are U.S. allies or partners to varying degrees. The State Department’s own website hails Panama as a democratic “partner” that works with the United States to “advance common interests.”
U.S. stock futures plummet after Trump hits U.S. trading partners with tariffs
Stock futures tumbled early Monday to kick off a new trading month, as investors weighed new U.S. tariffs on goods from key trade partners and their potential impact on the economy and corporate profits. Futures tied to the Dow Jones Industrial Average slid 546 points, or 1.22%. S&P 500 futures dropped 1.4%, while Nasdaq-100 futures lost 1.7%. President Donald Trump on Saturday slapped a 25% tariff on goods from Mexico and Canada. He also placed a 10% levy on imports from China. The U.S. does about $1.6 trillion in business with the three countries.
Trump to impose tariffs on Canada, Mexico and China on Saturday, White House says
The White House said Friday that President Donald Trump would impose a 25% tariff on goods coming to the U.S. from Canada and Mexico and a 10% tariff on those from China on Saturday, a move that could drive up prices for products coming into the U.S. from those countries. Trump had said he would issue those tariffs on the first day of his presidency, then said on Inauguration Day that the tariffs would be put in place on Feb. 1. White House press secretary Karoline Leavitt told reporters on Friday that Trump would carry through on that Feb. 1 deadline.
Implemented or not, Trump's 25% tariff threat is challenging the auto industry
DETROIT — As President Donald Trump’s threat to impose 25% tariffs on imports from Canada and Mexico as soon as Saturday looms, the global automotive industry is collectively holding its breath. For months, automakers have been taking a “wait-and-see” approach to the Trump administration’s potential tariffs. Trump promised to impose duties upon his inauguration this month, then he set a target date of Feb. 1 for levies on the key U.S. trading partners. Regardless of whether Trump imposes tariffs, automakers such as General Motors — the top seller in the U.S. — want clarity so they can plan their business around the policy.
Here’s what Trump’s tariff threats look like on the ground in China
As President Donald Trump threatens to impose his first tranche of tariffs on the world Saturday, Chinese manufacturers are bracing for impact. Though Trump is making his biggest initial swing at Canada and Mexico with a proposed 25% tariff, the U.S. president still has China on his radar. After a report that the administration could delay at least some of the duties until March 1, the White House said Friday that Trump will follow through on plans to slap 10% tariffs on imports from China on Saturday. On the campaign trail, he threatened tariffs on Chinese-made goods of 60% or more.