Will Trump's tariffs lower your taxes? Here's what tax experts say.
President Trump says steep tariffs on U.S. imports will lead to lower taxes for Americans. Is he right?
Tariffs
Reporter's Notebook: Tariffs echo COVID
Rising import costs are squeezing small businesses. Many say it feels just like the early days of the COVID-19 pandemic. "CBS Evening News" co-anchor John Dickerson explains.
U.S. vehicle sales surge as buyers hope to beat tariff hikes
March saw new car sales rise nationwide, jumping more than 17% from February and nearly 12% from March of last year.
Senate votes against blocking Trump's tariffs
The Senate on Wednesday rejected a bipartisan effort to block President Trump's global tariffs. The measure failed in a 49-49 vote with all but three Republicans voting against it. CBS News congressional reporter Taurean Small has more.
U.S. economy went into reverse in the first quarter, new GDP data shows
The economy shrank 0.3% in the first three months of the year, a steep downturn from the pace of growth in 2024.
What's behind the surge in new car sales
As tariffs threaten to raise the price of new cars, Americans are racing to the showrooms. Kris Van Cleave reports they're trying to beat the price hikes.
Why the U.S. economy shrank in the first quarter
U.S. economic growth slowed sharply in the first quarter of 2025 as businesses rushed to stockpile goods ahead of President Trump's sweeping tariff policies. Kelly O'Grady has more.
What's behind the declining economic numbers?
The U.S. economy shrank during the first three months of 2025. The Commerce Department reported Wednesday that U.S. gross domestic product declined at an annual rate of 0.3% from January to March. CBS News' Kelly O'Grady and Ed O'Keefe have more.
U.S. economy shrinks, Trump Cabinet meets
President Trump held a Cabinet meeting on Wednesday, coinciding with his administration's week-long first 100 days victory lap. But on this day 101, the economic numbers tell a different story. CBS News' Fin Gomez, Ed O'Keefe and Kelly O'Grady report on the details.
Stocks slide, new data shows economy shrank
Stocks slid on Wednesday after new data showed that the U.S. GDP declined at a .3% rate in the first quarter of 2025. It was the worst quarterly performance for the U.S. economy since early 2022. CBS News MoneyWatch correspondent Kelly O'Grady breaks it down.
Why the economy slowed down last quarter
New data from the Department of Commerce shows an increase in imports led to an economic slowdown in the last quarter as President Trump ramped up his trade wars and companies tried to stockpile goods before tariffs kicked in. Matt Peterson, a reporter at Barron's, joined CBS News to discuss.
These companies are investing in U.S. manufacturing amid tariffs
President Trump wants to bring manufacturing back to the U.S. These companies say they're investing in domestic factories.
Trump reacts to GDP data
President Trump says he inherited a stock market "overhang" from President Biden that impacted the gross domestic product data recently released. Mr. Trump is insisting that patience is required as more companies choose to manufacture in the U.S. to avoid tariffs. CBS News' Olivia Rinaldi reports.
New alarming GDP data on U.S. economy
The latest gross domestic product data shows the U.S. economy is in reverse, slowing in the first quarter of 2025. CBS MoneyWatch correspondent Kelly O'Grady has more on the potential factors involved and how the next quarter's data could indicate symptoms of a recession.
Plunging U.S. imports from China could lead to shortages, experts warn
The drop-off in shipments could lead to empty store shelves this summer as retailers deem China-made goods too expensive to import.
Trump claims victorious 100 days
President Trump held a rally in Michigan to tout his work during the first 100 days of his second term. During an interview about his accomplishments, he was pressed of the uncertainty in the U.S. economy caused by his tariff strategy. CBS News' Natalie Brand reports.
U.S. border town paying an economic toll for Trump's trade war with Canada
Nothing is normal these days in Point Roberts, one of the only American towns you have to go through Canada to reach.
U.S. retailers and ports brace for shortages
Bookings of container shipments from China to the U.S. are down nearly 50% compared to a year ago. Carter Evans reports from one of the country's busiest ports to see the economic impact at the loading dock and on small business shelves.
Trump to ease tariffs on automakers by rolling back some import duties
The Trump administration says automakers won't get hit twice by its tariffs, which have applied to both auto parts as well as steel and aluminum.
What to know about Trump's first 100 days
Tuesday marks the 100th day of President Trump's second term in office. CBS News' Major Garrett, Olivia Rinaldi, Kelly O'Grady and Scott MacFarlane report on how he has reshaped the economy and the government.
Tracking Trump's changes to auto tariffs
President Trump was outside of Detroit to mark 100 days in office and touted his plan to give relief to the crucial American car industry from some of the tariffs that are expected to increase prices on production. Kelly O'Grady explains.
State of Democratic resistance to Trump
Earlier in April, New Jersey Democratic Sen. Cory Booker set a record with his 25-hour marathon speech on the Senate floor. But did it help to rally the anti-Trump resistance among Democrats? Political strategists Meghan Hays and Matt Gorman join "America Decides" with analysis.
China shows economy is moving on without U.S.
In the trade war with China, CBS News got a look behind enemy lines. But keep in mind, Anna Coren was shown what the Chinese Communist Party wanted her and the American public to see.
Auto workers react to Trump's tariff moves
Touching down in Michigan, President Trump brought with him good news for the state's key industry. Automakers will still face a 25% tariff on imported cars and parts, but not on other critical materials -- including steel and aluminum. Ed O'Keefe reports.
What to expect from Trump's next 100 days
From the economy to immigration, is President Trump delivering on his campaign promises 100 days into his second term? Danielle Alvarez, 2024 Trump campaign adviser, joins "America Decides" to discuss the last 100 days and the next 100 days.
Live
Missed paychecks, benefit lapses increase pressure for shutdown deal
The government shutdown stretched into Day 27 on Monday as the stalemate over how to reopen the government continues. Follow live updates here.
Hurricane Melissa threatens to bring catastrophic flooding to Jamaica
Hurricane Melissa strengthened into a Category 5 storm early Monday, unleashing torrential rain and threatening to bring catastrophic flooding to the northern Caribbean.
Trump says China trade deal likely to be finalized during his Asia trip
President Trump told reporters as he flew into Japan that he expects to have a trade agreement with China finalized by the end of his tour of Asia.
Trump reveals he underwent an MRI during checkup, calls results "perfect"
President Trump had his second physical in six months earlier this month at Walter Reed Medical Center.
Minnesota man arrested for threatening Pam Bondi in TikTok post
A TikTok user was arrested earlier this month for threatening Attorney General Pam Bondi.
Indiana's GOP governor says he will call a special redistricting session
Indiana's Republican governor on Monday said he would be calling a special session to consider redrawing the state's congressional map.
Why your beef, bananas and coffee beans have gotten so expensive
Americans are paying significantly more for these food staples, inflation data shows. Will prices ever relent?
FDA approves new menopause drug without hormones. Here's what to know.
The U.S. Food and Drug Administration has approved Lynkuet, a new medication that does not contain hormones to treat hot flashes due to menopause.
Pork jerky sold at Costco, Sam's Club recalled over possible metal wires
More than 2.2 million pounds of a ready-to-eat Korean barbecue pork jerky have been recalled due to possible pieces of metal, according to federal health officials.