The U.S. Department of Commerce has rescinded funding for a $48 million tech hub in the Spokane-Coeur d'Alene region, citing a rushed and opaque selection process by the previous administration. The decision has sparked local concern about setbacks to economic development and aerospace industry opportunities, with officials calling for a reversal and upcoming reissuance of funding opportunities.
By Hannah Parry is a Newsweek Live Blog Editor based in New York. Her focus is reporting on U.S. politics and society.
Over the course of April, President Donald Trump imposed large tariffs on goods from every country in the world, pushing America’s average levy on imports to its highest level in roughly a century.And inflation slowed.In April, the Consumer Price Index (CPI) rose at a 2.3 percent annual rate, i...
By Shane Croucher is a Breaking News Editor based in London, UK. He has previously overseen the My Turn, Fact Check and News teams, and was a Senior Reporter before that, mostly covering U.S. news and politics.
Hispanic consumers are cutting back their grocery spending on everything from beer to cooking spray, executives said during recent earnings calls.Coca-Cola, Constellation Brands and Colgate-Palmolive are among the companies that have reported a slowdown in North American sales from Hispanic s...
Research suggests America’s industrial decline, or deindustrialization, has significantly impacted national economics since the late 20th century, with manufacturing employment dropping by 34% from 1979 to 2019. - It seems likely that causes include productivity gains, globalization, and policy changes, with controversy over the role of trade, some blaming it for job losses while others argue productivity is the main driver. - The evidence leans toward economic impacts including job losses, wage stagnation, increased income inequality, and regional disparities, particularly in the Rust Belt, though overall GDP growth has continued.