President Donald Trump signed a memorandum Thursday calling for “fair and reciprocal” trade tariffs on all major U.S. trading partners, including longtime allies.

Collectively, Americans now owe a record $1.21 trillion on their credit cards, according to a new quarterly report on household debt from the Federal Reserve Bank of New York.

A gauge of wholesale prices rose more than expected in January, though some details of the report indicated that pipeline inflation pressures are easing.

DETROIT — As President Donald Trump threatens to further increase tariffs on U.S. trading partners, the greatest impact for the auto industry outside of North America would be additional levies on South Korea and Japan.

President Trump announced plans for what he termed “fair and reciprocal” tariffs on U.S. trade partners. The president signed a memorandum calling for a country-by-country report determining if the tariffs will be necessary.

The newest read on the economy shows a higher-than-expected increase for January with inflation rising 0.5%, the largest increase in 17 months. Rent, hotels and apartment costs were up 4% and grocery bills skyrocketed with the cost of eggs nearly double what they were last year. NBC’s Christine Romans reports for TODAY on what’s causing the uptick.

From reducing NIH funding to slashing USAID to new tariffs, Republican lawmakers are beginning to speak out — carefully — against some of Trump’s actions.

When the Consumer Financial Protection Bureau made an appearance in the Heritage Foundation’s Project 2025 blueprint, the conservative group’s plan was simple: Abolish it entirely.

The White House has confirmed that President Trump discussed negotiations to end the war in Ukraine during separate phone calls with Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy.

The U.S. spirits industry maintained its market share leadership over beer and wine for a third straight year in 2024, even as revenues slid, according to new data released Tuesday.