The tax cuts in President Donald Trump's One Big Beautiful Bill would likely gouge a $2.4 trillion hole in the federal budget.

The One Big Beautiful Bill Act would pay for Trump’s campaign promises to make his 2017 tax cuts permanent, cut other taxes and boost spending for the border and defense.

U.S. President Donald Trump hiked nearly all of his tariffs on steel and aluminum imports to a punishing 50% on Wednesday in a move that’s set to hammer businesses from automakers to home builders, and likely push up prices for consumers even further.

President Donald Trump raised levies on US imports of steel and aluminum to 50% from 25% as he ratcheted up his campaign to reshape the country’s trade ties with the rest of the world.

Premier of Ontario Doug Ford discusses President Donald Trump’s steel and aluminum tariffs on ‘America Reports.’

The U.S. trade deficit narrowed significantly in April as President Donald Trump sharply escalated tariffs before pausing a large swath of the levies, U.S. Commerce Department data on Thursday showed.

The U.S. trade deficit narrowed by a record amount in April ahead of the implementation of President Trump’s tariffs, according to a Thursday release from the U.S. Census Bureau and the U.S. Bureau of Economic Analysis.

U.S. President Donald Trump's tariffs are facing legal headwinds for the first time — but he has other tools he could deploy in his quest to realign global trade.

President Donald Trump has come up short on striking trade deals with most nations with just one month left before his self-imposed tariff deadline, even as he took his first steps in weeks toward engaging with China.

President Donald Trump is feeling better about trade talks with China after calling President Xi Jinping on Thursday, saying they will meet again soon to resume negotiations.

Trump announced a new round of trade talks with China next week, a day after calling Chinese counterpart Xi Jinping in a bid to end a battle over tariffs.