Business News

Trump signs executive order directing US withdrawal from the Paris climate agreement — again

WASHINGTON (AP) — President Donald Trump has signed an executive order directing the United States to again withdraw the United States from the landmark Paris climate agreement. Trump’s action Monday came hours after he was sworn into office for a second term. It’s a blow to worldwide efforts to combat global warming and distances the U.S. from its closest allies. Global efforts to fight climate change stumbled but survived the Republican’s first term as other countries, states, cities and businesses picked up some of the slack. No other country has withdrawn from the 2015 agreement.

Trump says 25% tariffs on Canada and Mexico coming on Feb. 1 as he signs several orders on economy

WASHINGTON (AP) — President Donald Trump said Monday that he expects to put 25% tariffs on Canada and Mexico starting on Feb. 1, while declining to flesh out his plans for taxing Chinese imports. Trump made the announcement in response to reporters’ questions while signing executive actions in the Oval Office. He’s placing a big bet that his executive actions can cut energy prices and tame inflation and that the tariffs will strengthen the economy instead of exposing consumers to higher prices. But it’s unclear whether his orders will be enough to foster the growing economy with lower prices that he promised voters.

Trump issues an executive order to suspend the US TikTok ban. But can it stick?

President Donald Trump has signed an executive order Monday to keep TikTok operating for 75 days, a relief to the social media platform’s users even as national security questions persist. TikTok’s China-based parent company ByteDance was supposed to find a U.S. buyer or be banned on Jan. 19. Trump’s order could now give ByteDance more time to find a buyer. Former President Joe Biden declined to enforce the bipartisan measure that he signed into law, while Trump has pledged to keep TikTok open after crediting it for helping his 2025 election victory. Trump’s legal authority to preserve TikTok is unclear under the terms of the law recently upheld unanimously by the U.S. Supreme Court.

As Davos 2025 reacts to Trump tack, EU chief leads charge on fight against climate change

DAVOS, Switzerland (AP) — President Donald Trump has given everyone at Davos something to talk about with his actions on the first day of his second term. The World Economic Forum’s annual gabfest in the Swiss Alps got into full swing on Tuesday. European Union chief Ursula von der Leyen defended the Paris climate accord after Trump ordered a U.S. pullout. Energy, trade, migration, U.S. territorial ambitions and the wars in Ukraine and the Middle East were also likely to be discussed at the first day of the weeklong gathering in Davos.

Canada says it is ready to respond if Trump follows through with imposing sweeping tariffs Feb. 1

TORONTO (AP) — Top Canadian ministers say Canada will be ready to retaliate after President Donald Trump said he was thinking of imposing a 25% tariff on Canada and Mexico on Feb. 1. Trump pledged in his inaugural address that tariffs would be coming and said foreign countries would be paying the trade penalties, even though those taxes are currently paid by domestic importers and often passed along to consumers. Canadian Foreign Minister Mélanie Joly said they “will continue to work on preventing tariffs” but said they are also “working on retaliation.”

Trump, a populist president, is flanked by tech billionaires at his inauguration

NEW YORK (AP) — Some of the most exclusive seats at President Donald Trump’s inauguration were reserved for powerful tech CEOs who also are among the world’s richest men. That’s a shift from tradition, especially for a president who has characterized himself as a champion of the working class. Seats so close to the president are usually reserved for the president’s family, past presidents and other honored guests. In one image, Meta CEO Mark Zuckerberg and his wife, Priscilla Chan, stand beside Amazon CEO Jeff Bezos and his fiancee, Lauren Sánchez, along with Google CEO Sundar Pichai and Elon Musk, the SpaceX and Tesla owner who is a close Trump adviser. Also at the Capitol were Apple CEO Tim Cook and TikTok CEO Shou Zi Chew.

Symbol of unity? Inauguration news coverage illustrates differences that pull country apart

Presidential inaugurals frequently symbolize what binds Americans, a quadrennial celebration of a peaceful transition of power. Yet the nation’s political divisions were hard not to notice in media coverage of the event. The ceremonies dominated news outlets on a day many Americans were off for the Martin Luther King holiday. On NBC News, historian Jon Meacham called Trump’s inaugural the most partisan address he can remember. Conservative commentator Scott Jennings on CNN said it was remarkable to see Trump “indict the gangsters to their faces.” For news outlets, there was a lot of news to cover beyond the pomp, with a blizzard of Trump executive orders and last-minute pardons by outgoing President Joe Biden.

Stock market today: Wall Street begins Trump’s second term with a drift higher

NEW YORK (AP) — U.S. stock indexes are drifting higher following a mostly encouraging batch of profit reports from big companies. The S&P 500 rose 0.6% higher in early Tuesday trading, as many markets around the world took tentative steps following Donald Trump’s return to the White House. The Dow Jones Industrial Average added 188 points, and the Nasdaq composite gained 0.5%. Trump has promised sweeping moves to reshape global trade and the economy, often at the expense of other countries, but stock indexes in Asia and Europe were mixed amid mostly modest moves. U.S. Treasury yields eased in the bond market.

Last-minute settlement talks stall Prince Harry’s high-stakes trial against British tabloids

LONDON (AP) — Prince Harry’s high-stakes trial pitting him against Rupert Murdoch’s U.K. tabloids has stalled amid settlement discussions. Harry, the younger son of King Charles III, and one other claimant allege News Group Newspapers, the publisher of The Sun, hacked their phones or unlawfully snooped on them. The High Court trial was scheduled to start Tuesday, but attorneys sought delays as settlement talks took place. The publisher, which has denied the allegations, has settled more than 1,300 other claims out of court.

Trump temporarily halts leasing and permitting for wind energy projects

President Donald Trump has signed an executive order temporarily halting offshore wind lease sales in federal waters and pausing the issuance of approvals, permits and loans for both onshore and offshore wind projects. The interior secretary will review federal wind leasing and permitting practices for federal waters and lands. The assessment will consider the environmental impact of wind projects, the economic costs associated with the intermittent generation of electricity and the effect of subsidies on the viability of the wind industry, the order states. Trump wants to increase drilling for oil and gas and has been hostile to renewable energy, particularly offshore wind.