AP Business SummaryBrief at 12:16 a.m. EDT
Trump downplays business concerns about uncertainty from his tariffs and prospect of higher prices
WEST PALM BEACH, Fla. (AP) — President Donald Trump is dismissing business concerns over the uncertainty caused by his planned tariffs on a range of American trading partners and the prospect of higher prices. And he’s not ruling out the possibility of a recession this year. After imposing and then quickly pausing 25% tariffs on imports from Mexico and Canada, Trump says his plans for broader “reciprocal” tariffs will go into effect April 2, raising them to match what other countries assess. In an interview with Fox News Channel’s “Sunday Morning Futures,” he seems to acknowledge that his plans could affect U.S. growth. He said: “There is a period of transition because what we’re doing is very big.”
Tens of thousands of Mexicans rally with president to celebrate US decision to delay tariffs
MEXICO CITY (AP) — Tens of thousands of people have packed into Mexico’s City main plaza to celebrate with President Claudia Sheinbaum a decision by the U.S. to postpone tariffs on many of the country’s goods. The crowd clutched large Mexican flags and banners that read “Mexico is to be respected” as they cheered Sheinbaum on Sunday. The celebration comes just days after U.S. President Donald Trump postponed 25% tariffs on many imports from Mexico for a month, saying Sheinbaum had made progress on drug smuggling and illegal immigration. Sheinbaum had planned to announce any retaliatory measures on Sunday. She instead held a mass celebration.
They were forced to scam others worldwide. Now thousands are detained on the Myanmar border
MAE SOT, Thailand (AP) — Thousands of sick, exhausted and terrified young men and women, from countries all over the world squat in rows, packed shoulder to shoulder, surgical masks covering their mouths and, some, their eyes. Weeks after being released from locked compounds where they were forced to trick Americans and others out of their life savings, they’re still stuck in Myanmar waiting for a way home. Meanwhile, conditions in the place where they’re being held are dire as people complain of no medical attention for illnesses, and few toilets shared among hundreds. They are just a small fraction of what could be 300,000 people working in similar operations across the region, and their release does not mean these scams will be stopped.
How one small business is navigating Trump’s on-again, off-again tariffs on Canadian goods
NEW YORK (AP) — At Fishtown Seafood, owner Bryan Szeliga is worried about the oysters. Szeliga, who operates three retail and wholesale locations in Philadelphia and Haddonfield, N.J., sells a range of seafood. But briny, slurpable oysters are the biggest part of his overall business. And 60% to 70% come from Canada. The Trump’s administration’s on-again, off-again 25% tariff on imports from Canada — which went into effect on Tuesday and were suspended for a month by Thursday — is giving him whiplash as he tries to plan ahead. Ultimately he’s likely to need to raise prices and offer customers fewer varieties of oysters.
Japan’s Nissan tests driverless vehicles in city streets filled with cars and people
YOKOHAMA, Japan (AP) — Nissan Motor Corp. recently showcased its driverless technology on city streets in Yokohama. The vehicle uses 14 cameras, nine radars and six LiDar sensors, installed on and around the vehicle. Japan has not kept apace of the global shift to autonomous driving, so far led by China and the U.S. But it is eager to catch up with players like Google’s Waymo that have taken the lead. The government supports the idea that autonomous vehicles are needed, given the nation’s shrinking population. But progress has been cautious. Experts say challenges remain because it’s human nature to be more alarmed by accidents with driverless vehicles than regular car crashes.
Flight cancellations at Germany’s Hamburg Airport affect more than 40,000 passengers after strike
BERLIN (AP) — Flight cancellations at Hamburg Airport after a surprise strike by workers have affected more than 40,000 passengers. The disruption came a day before a planned wider protest across Germany amid new contract negotiations. The airport said that only 10 of more than 280 scheduled flights came and went as planned Sunday. The surprise walkout comes before a series of preannounced strikes across 13 airports in Germany planned for Monday. The ver.di union called the strikes by security control staff to boost pressure in collective bargaining talks with an association of aviation security services companies.
Consumer prices fell in China in February and remain flat in a sluggish economy
BEIJING (AP) — Consumer prices fell in China in February for the first time in 13 months, as persistent weak demand was compounded by the early timing of the Lunar New Year holiday. The National Bureau of Statistics said Sunday that the consumer price index dropped 0.7% in February compared to a year ago. China’s policymakers are facing flat to falling prices, and the possibility they could evolve into a deflationary spiral that would drag down the economy. The Lunar New Year came in January instead of February this year. That drove up spending and prices in January compared to last year, and made them relatively lower in February.
Facing competition from Big Tech, states dangle incentives and loosen laws to attract power plants
HARRISBURG, Pa. (AP) — Facing spiking energy demand, U.S. states are pressing for ways to build new power plants faster as policymakers try to protect residents from higher electric bills and keep their economies on track. Some states are dangling financial incentives or overhauling regulatory structures. The spike in demand for electricity is being driven in large part by the artificial intelligence race as tech companies feed their energy-hungry data centers. Pennsylvania Gov. Josh Shapiro wants to fast-track the construction of big power plants and offer tax breaks. Michigan and Louisiana are exploring ideas to attract nuclear power, while lawmakers in Ohio and Missouri are debating regulatory overhauls to spur power plant construction.
Ex-central banker to replace Trudeau as Canada’s prime minister after winning Liberal Party vote
TORONTO (AP) — Former central banker Mark Carney will become Canada’s next prime minister after the governing Liberal Party elected him its leader as the country deals with U.S. President Donald Trump’s trade war and annexation threat, and a federal election looms. Carney, 59, replaces Prime Minister Justin Trudeau, who announced his resignation in January but remains prime minister until his successor is sworn in. Carney navigated crises when he was the head of the Bank of Canada and when in 2013 he became the first noncitizen to run the Bank of England since it was founded in 1694. Trudeau’s popularity had declined as food and housing prices rose and immigration surged.
South Dakota law raises questions about future of massive Midwest pipeline
SIOUX FALLS, S.D. (AP) — A new law in South Dakota prohibiting the use of eminent domain to acquire land for carbon capture pipelines challenges the viability of a proposed project snaking through five Midwest states. Summit Carbon Solutions has vowed to pursue the pipeline project despite South Dakota Gov. Larry Rhoden signing a bill into law that will make routing the line more difficult. The law bans Summit from forcing South Dakota landowners to allow the pipeline through their property. Plans call for the pipeline to carry greenhouse gas emissions from more than 50 ethanol plants in Iowa, Minnesota, Nebraska, North Dakota and South Dakota to a permanent underground storage spot in North Dakota.
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