U.S. and Chinese officials will meet this week for their first formal economic talks since President Trump announced sweeping tariffs on China and triggered a trade war, the Treasury Department announced Tuesday evening.
Why it matters: The trade war between the world's two largest economies threatens the global order and the talks in Switzerland will mark the first high-level meeting between U.S. and Chinese officials since China's Vice President Han Zheng attended Trump's inauguration in January.
A freshly established PAC will start pressuring both Republican and Democratic lawmakers to support a congressional stock trading ban, Axios has learned.
Why it matters: President Trump renewed hope for a ban when he told Time magazine in an interview which published late last month that he would sign such a measure into law. But opponents remain on Capitol Hill.
Palantir's stock slid 12% today, denting its meteoric start to the year, despite the AI data software giant raising its outlook on revenue and adjusted operating income yesterday.
When valuations grow large, so do expectations.
Between the lines: Investors zeroed in on a pullback in international commercial revenue, potentially signaling the rapidly expanding company is running into growth constraints.
By the numbers: Tesla sales fell 81% year-over-year in Sweden, 74% in the Netherlands, 67% in Denmark and 62% in the U.K., according to industry association figures compiled by Bloomberg.
They also fell 59% in France, 55% in Belgium, 46% in Germany and 36% in Spain.
The big picture: European customers are turning away from the brand after CEO Elon Musk became an outspoken ally of President Trump.
Musk acknowledged last month that the company was facing "some unexpected bumps this year" and blamed the "blowback" on people who are "receiving fraudulent money or they're the recipients of waste largesse."
Instacart is launching an alcohol-and-snacks delivery app geared toward younger partiers.
🍺 State of play: The new app, Fizz, is "tailor-made for groups," allowing people to place a collective order and pay for their items separately, Instacart said.
"It takes just one tap to invite others into your Fizz cart, so everyone can choose what they want to bring," according to the company. "Everything is delivered right when you need it, no matter how many people participate, with no membership required."
Zoom in: Retailers already on Instacart will be able to sell drinks and food to customers via Fizz.
Wednesday is the Real ID deadline but Homeland Security Secretary Kristi Noem said Tuesday those without identification that complies with the law "will be allowed to fly."
Why it matters: After repeated delays, May 7 is the enforcement deadline to have identification that meets federal security standards to board a commercial aircraft in the U.S.
Canadian Prime Minister Mark Carney privately asked President Trump to stop referring to the country as the 51st U.S. state, the prime minister said after their meeting Tuesday.
Why it matters: Trump has repeatedly threatened Canadian sovereignty, but Carney's Liberal Party staged a political comeback by rallying against Trump's annexation threats.
President Trump and Canadian Prime Minister Mark Carney, fresh off a Liberal Party election victory, met Tuesday — a week after Carney declared an end to his country's "old relationship of integration" with the U.S.
Why it matters: Carney and Trump met after the U.S. president's rollercoaster trade war and talks of annexation fueled a stunning Liberal party comeback in Canada.
China's no longer tops among the cheapest places in the world to make vehicles; today, Morocco, Romania and Mexico are the auto industry's emerging low-cost production centers, according to a new labor-cost analysis by Oliver Wyman.
Why it matters: Amid all the disruption in the auto industry — geopolitical tensions, economic headwinds and rising competition — automakers must reconsider where it makes sense to produce future vehicles.
Millennials expect to spend about $4,557 this year on golf gear and expenses like course fees, club memberships, travel and lessons, according to a new survey from Censuswide and Whatnot.
The big picture: That's $693 more than Gen X and $1,798 more than Boomers.
West Coast ports are ground zero for the trade war. They are warning of plunging cargo volume, with likely far-reaching economic effects in the weeks and months ahead.
Why it matters: The tariff shock is likely to ripple through the economy, eventually hitting domestic transportation and warehousing, employment, and the price and availability of goods on store shelves.
A compounding mess at Newark Liberty International Airport in New Jersey led to days of flight delays and cancellations.
The big picture: Several factors collided to fuel more than a week of airport headaches, the most prominent being a shortage of air traffic controllers.
Last week, President Trump triumphantly announced, "Gasoline just broke $1.98 a Gallon, lowest in years," even as the average price at the pump was $3.18.
Why it matters: Gasoline did touch $1.98 briefly in April, but not at any gas station in the country.
After Donald Trump was reelected in November, a small business called Lay-n-Go that makes cosmetic bags and drawstring carriers saw the China tariff writing on the wall, and moved production out of the country,but that wasn't enough to keep their profit margins from shrinking.
Why it matters: Many businesses face an existential crisis over tariffs, even the ones that prepared for the onslaught from the Trump administration.
Cirrus, a leading maker of small planes, is adding a feature to its G7 model that allows it to land itself in an emergency.
Why it matters: The move is a step toward autonomous passenger travel, though landing a plane in an emergency is a long way from removing pilots from the cockpit.
President Trump's threat to impose tariffs on film imports to the U.S. could risk retaliatory actions in international markets, where American film studios make the bulk of their box office revenue.
Why it matters: Studios are already reeling from a weakened box office following the pandemic. Tariffs could send the industry into a tailspin.
Nearly half the country may need Real IDs to board domestic flights starting Wednesday.
Why it matters: After years of delays, the Real ID deadline looks set to be finally, actually happening — and it could cause chaos at airports this week even after tons of warnings from the government, airlines, etc.
President Trump's grand economic vision relies on a simple tradeoff: that Americans will accept short-term personal sacrifice — higher prices, fewer options, slimmer profits — in service of long-term national strength.
Why it matters: Trump is breaking sharply from free-market orthodoxy in his second term, blending bursts of anti-capitalism with a top-down, nationalist agenda for American dominance.
Commerce Secretary Howard Lutnick called Canada a "socialist regime" as he cast doubt on the possibility of President Trump striking a trade deal with Canadian Prime Minister Mark Carney when they meet on Tuesday.
Why it matters: Carney defiantly declared the previous relationship between the two nations was "over" after his Liberal Party was re-elected last week. It surged on a wave of nationalism in the face of Trump's threats to annex Canada and increased tariffs.
