Trump overturned decades of US trade policy in 2025. See the impact of his tariffs, in four charts
Since returning to the White House in January, President Donald Trump has overturned decades of U.S. trade policy — building a wall of tariffs around what used to be a wide open economy. His double-digit taxes on imports from almost every country on earth have disrupted global commerce and strained the budgets of consumers and businesses worldwide. They have also raised tens of billions of dollars for the U.S. Treasury. Still, the erratic way the president rolled out his tariffs made 2025 one of the most turbulent economic years in recent memory.
Trump launched global tariff wars in 2025. Here's a recap of his trade actions this year
It’s been a rollercoaster of a year for U.S. trade policy. President Donald Trump launched a barrage of new tariffs in 2025, plunging the U.S. into trade wars with nearly every country in the world. Volley after volley of threats and steeper import taxes often arrived erratically — with Trump claiming that such levies needed to be immediately imposed to take back wealth that was “stolen” from the U.S. But the president also turned to tariffs amid personal grudges, or in response to political critics. The whiplash of on-again, off-again duties — and responding retaliation — fueled widespread uncertainty for businesses and consumers alike, all while households continue to face rising prices.
More thrifting and fewer returns, the early trends that defined shopping this holiday
NEW YORK (AP) — The shopping rush leading up to Christmas is over and in its place, like every year, another has begun as millions of people hunt for post-holiday deals and get in line to return gifts that didn’t fit, or didn’t hit quite right. Holiday spending topped last year’s haul, but growing unease over the U.S. economy and higher prices have altered the behavior of some Americans. More are hitting thrift stores and they’re sticking more closely to shopping lists. Here are three trends that defined the holiday shopping season so far.
Sure, the newspaper informed. But as it fades, those who used it for other things must adjust, too
The lurch in the media business has changed America over the last two decades. Experts agree democracy is different. The disappearance of the printed paper has altered daily life, too. Once they caught up on the world, people used to save the paper for keeping precious memories, protecting floors and furniture, wraping gifts, lining pet cages and lighting fires. Today they live different lives without the print newspaper around. It's joining the pay phone, the cassette tape, the answering machine, bank checks, the sound of the internal combustion engine and white gloves for women as objects that mark the passage of time when they vanish.
California drops lawsuit seeking to reinstate federal funding for the state's bullet train
OAKLAND, Calif. (AP) — California has dropped a lawsuit officials filed against the Trump administration over the federal government's withdrawing of $4 billion for the state's long-delayed high-speed rail project. The Trump administration has said the authority running the project doesn't have a viable plan to complete it. But the authority says the federal government showed it is not a trustworthy partner to help get the bullet train done. The California group is seeking private investors to support the project estimated to cost more than $100 billion. The project receives most of its funding from the state.
Amid a battery boom, graphite mining gets a fresh look in the US
GOUVERNEUR, N.Y. (AP) — Graphite mines in the United States are seeing renewed interest after being largely closed for decades. Graphite is crucial for lithium-ion batteries and demand is surging amid trade tensions with China. Several companies, including Titan Mining Corp. in New York, have plans to mine graphite. Titan aims for commercial sales by 2028, believing geopolitical factors favor their efforts. The U.S. government has fast-tracked permits and offered financial support to boost domestic graphite production. Titan expects to produce about 40,000 metric tons of graphite concentrate annually.
Pilot dies in ultralight plane crash off Copacabana beach in Brazil
RIO DE JANEIRO (AP) — Officials in Brazil say that an ultralight plane towing an advertising banner has crashed into the sea off Rio de Janeiro’s Copacabana beach. Local authorities said that the pilot died in the crash on Saturday afternoon. His body was sent to a medical examiner’s office for identification. Fire department rescue teams are working at the site using Jet Skis, inflatable boats, divers and aerial support. The search includes sonar equipment to locate possible additional victims and wreckage. Security camera footage showed the plane diving nose-first into the sea around 12:30 p.m. or 1530 GMT. The Brazilian air force has opened an investigation into the cause of the crash.
Trump-Zelenskyy talks will address security guarantees and reconstruction, Ukraine leader says
KYIV, Ukraine (AP) — Ukrainian President Volodymyr Zelenskyy says that he will meet on Sunday with U.S. President Donald Trump in Florida. Zelenskyy told journalists on Friday that the two leaders will discuss security guarantees for Ukraine during Sunday’s talks, and that the 20-point plan under discussion “is about 90% ready.” The announced meeting is the latest development in an extensive U.S.-led diplomatic push to end the nearly four-year Russia-Ukraine war. But efforts have run into sharply conflicting demands by Moscow and Kyiv.
Russia hits Kyiv with missiles and drones the day before Zelenskyy and Trump meet
KYIV, Ukraine (AP) — Russia struck Ukraine's capital with missiles and drones in an attack that killed at least one person the day before the leaders of Ukraine and the United States meet. Ukrainian President Volodymyr Zelenskyy said the attack “really shows that Putin doesn’t want peace.” Authorities said Saturday's assault hit residential buildings and energy infrastructure in Kyiv. Moscow said the strike was in response to Ukraine’s attacks on “civilian objects” in Russia. Poland scrambled fighter jets and closed airports in Lublin and Rzeszow near the border with Ukraine for several hours during the Russian attacks but there was no violation of Polish airspace.
Stocks close slightly lower in quiet post-Christmas trading
NEW YORK (AP) — Stocks closed slightly lower as investors returned from the Christmas holiday. The S&P 500, Dow Jones, and Nasdaq all fell less than 0.1% Friday. Trading was light with institutional investors largely closed out for the year. With three trading days left, the S&P 500 has climbed nearly 18% this year. Gold and silver prices continued to rise, with silver up nearly 8% due to supply constraints. Shares of Target rose after news of an activist investor stake. U.S. crude oil fell 2.8%, while Treasury yields held steady. Markets in several countries remained closed.
