Business News

China counters with tariffs on US products. It will also investigate Google

BEIJING (AP) — China has announced retaliatory tariffs on select American imports and an antitrust investigation into Google, just minutes after a sweeping levy on Chinese products imposed by U.S. President Donald Trump took effect. This isn’t the first round of tit-for-tat actions between the two countries. China and the U.S. engaged in a trade war in 2018 when Trump raised tariffs on Chinese goods and China responded in kind. Analysts say China is much better prepared to counter this time around, but also wary about taking steps that could upset its own fragile and heavily trade-dependent economy.

Trump agrees to pause tariffs on Canada and Mexico after they pledge to boost border enforcement

WASHINGTON (AP) — President Donald Trump is holding off on his tariff threats against Mexico and Canada for 30 days after the two U.S. neighbors agreed to boost border security efforts. Trump on Saturday had directed that 25% tariffs on most imports from the two American partners — and 10% on Canadian energy products — go into effect at midnight Tuesday. The two nations threatened retaliation of their own, raising the prospects of a broader regional trade war. In a statement on X, Canadian Prime Minister Justin Trudeau said that on a call with Trump he pledged additional cooperation on border security. It follows similar moves by Mexico earlier Monday. Trudeau says “proposed tariffs will be paused for at least 30 days while we work together.”

China launches an antitrust probe into Google. Here’s what it means

HONG KONG (AP) — The Chinese government’s move to open an antitrust probe into Google is the latest development in a long and entangled relationship that goes back to the early 2000s. The investigation was one of a flurry of Chinese retaliatory measures announced Tuesday in response to a 10% tariff imposed by U.S. President Donald Trump on imports from China. Although Google services are not accessible in China, the company maintains a presence in the country, primarily focused on its advertising business. Some experts believe the antitrust investigation will likely center on Google’s Android operating system for smartphones and be used as a bargaining chip in the U.S.-China trade war.

Stock market today: Calm returns to Wall Street, and tech stocks lead US indexes higher

NEW YORK (AP) — Calm is returning to Wall Street, and tech stocks are leading U.S. indexes higher after much of Europe and Asia rose earlier in the day. The S&P 500 rose 0.6% Tuesday, a day after swinging sharply on worries that President Donald Trump’s tariffs could spark a trade war that would hurt economies around the world. The Dow Jones Industrial Average rose 25 points, and the Nasdaq composite climbed 1.2%. Trump on Monday agreed to delay tariffs on Canada and Mexico for a month but is pressing ahead against China, which announced retaliatory tariffs. Palantir Technologies helped lead the S&P 500 following a strong profit report.

Soaring egg prices are piquing interest in backyard chickens

NEW YORK (AP) — With the price of eggs soaring, more people are looking into keeping backyard chickens. It’s a pastime that grew with the pandemic and has continued ever since. But if eggs are the goal, there’s more to it than some people might anticipate. Local rules may ban chickens or place restrictions on coops and roosters. Bird flu poses fatal risks to flocks. And when all is said and done, start-up costs and monthly expenses may keep your egg prices high. Home chicken enthusiasts urge newbies to consider their time and lifestyles. People who travel often may find it difficult to find chicken sitters.

Apple lashes out at iPhone porn app maker and EU rules allowing its download

LONDON (AP) — Apple has chided a newly available pornography app available in the European Union. It also warned that the bloc’s digital rules opening the way for third-party app store downloads undermines consumer confidence in the tech giant. AltStore PAL, an alternative app marketplace, unveiled the Hot Tub app this week, which is described as an adult content browser. The app marketplace launched last year in the EU, in response to the bloc bringing in a new digital rulebook that forces Big Tech companies to open up to more competition.

US job openings fall to 7.6 million in December, suggesting the job market is slowing but healthy

U.S. job openings fell in December, a sign that the labor market is cooling but remains healthy. Openings fell to 7.6 million from 8.2 million in November, the Labor Department reported Tuesday. They were down from 8.9 million a year earlier and a peak of 12.2 million in March 2022 when the economy was rebounding from COVID-19 lockdowns. The number of layoffs fell, suggesting that Americans enjoy unusual job security.

Russian attacks near Ukrainian nuclear infrastructure heighten scrutiny of Kyiv’s preparedness

KYIV, Ukraine (AP) — Despite more than a year of warnings that critical Ukrainian nuclear energy infrastructure sites are vulnerable to potential Russian attacks, Ukraine’s Energy Ministry has failed to act swiftly to protect them, government officials have told The Associated Press. Only in the fall, after Ukrainian intelligence agencies warned of potential strikes targeting nuclear transmission facilities, was action taken to begin building protection, the officials said — far too late in the event of an attack. Russia’s renewed attacks this winter have heightened scrutiny over these failures. Two years of punishing Russian strikes on its power grid have left Ukraine reliant on nuclear power for more than half of its electricity generation.

In Kentucky bourbon country, the prospect of a trade war feels like a hangover that won’t go away

LAWRENCEBURG, Ky. (AP) — In the rolling hills of Kentucky where most of the world’s bourbon supply is crafted, the prospect of a new trade war feels like an aching hangover that won’t go away. Kentucky bourbon producers again find themselves in the crosshairs as a target for retaliation after President Donald Trump ordered new tariffs on U.S. neighbors Canada and Mexico. On Monday, Trump and the leaders of Canada and Mexico put their planned tariffs on hold for a month to allow further negotiations. But the lack of a final resolution has left some elected leaders and industry officials concerned about Kentucky’s iconic spirit. American whiskey exports slumped amid an earlier trade dispute during Trump’s first term.

Elon Musk creates confusion about IRS’ Direct File — but the free tax program is still available

WASHINGTON (AP) — Billionaire tech mogul Elon Musk posted on his social media site that he has “deleted” 18F, a government agency that worked on technology projects such as the IRS’s Direct File program. This led to some confusion about whether Direct File is still available to taxpayers this season. While Musk’s tweet may have intimated that the group of workers had been eliminated, an individual with knowledge of the IRS workforce said the Direct File program was still accepting tax returns. The individual spoke anonymously with The Associated Press because they were not authorized to talk to the press. As of Monday evening, 18F’s website was still operational.