DAVID McHUGH

AP Business Writer

European Commission President Ursula von der Leyen addresses journalists during a media conference at EU headquarters in Brussels, Monday, April 7, 2025. (AP Photo/Virginia Mayo)

EU pauses tariff retaliation for 90 days to match Trump move, holding out hope for talks

The European Union’s executive commission says it will put on hold for 90 days its retaliation measures against new U.S. tariffs to match President Donald Trump’s pause on his sweeping new tariffs and leave room for a negotiated solution.

EU imposes new tariffs on $23 billion in US goods in retaliation for Trump’s steel, aluminum tariffs

European Union member states have voted to approve retaliatory tariffs on $23 billion in goods in response to U.S. President Donald Trump’s 25% tariffs on imported steel and aluminum.

A dejected investor waits to restart trading, suspended for an hour following a 5% drop in in its main index, at the Pakistan Stock Exchange (PSE), in Karachi, Pakistan, Monday, April 7, 2025. (AP Photo/Fareed Khan)

Nations puzzle over how to respond to US trade war as global markets gyrate

The impact from U.S. President Donald Trump’s blast of tariff hikes is reverberating across world markets as America’s trading partners puzzle over whether there is room for negotiating better deals.

Traders work on the floor at the New York Stock Exchange in New York, Monday, April 7, 2025. (AP Photo/Seth Wenig)

US stocks dip after careening through a manic day following Trump’s latest tariff threat

US stocks careened after President Donald Trump threatened to crank his tariffs higher, despite a stunning display showing how much Wall Street wants him to do the opposite. The S&P 500 sank 0.2% Monday.

Behind a television monitor showing U.S. President Donald Trump, the display board with the Dax curve shows falling share prices, in Frankfurt, Germany, Thursday April 3, 2025, after the tariff package announced by U.S. President Trump has pushed share prices sharply into negative territory. (Arne Dedert/dpa via AP)

Sweeping Trump tariffs shock global economy, drawing threats and calls for talks

Tariff hikes announced by U.S. President Donald Trump have provoked dismay, threats of countermeasures and calls for further negotiations to make trade rules fairer.

New German cars are stored at a logistic center in Duisburg, Germany, Thursday, March 27, 2025. (AP Photo/Martin Meissner)

Global automakers say Trump’s tariffs will be painful for them and US consumers

Whatever domestic economic gain comes from U.S. President Donald Trump’s new 25% tax on imported cars – and experts are skeptical – automakers around the world are bracing for a lot of pain.

Activists unfurl a large banner in support of Ukraine outside the European Council building ahead of an EU summit in Brussels, Belgium, Wednesday, March 5, 2025. (AP Photo/Omar Havana)

The $300 billion question: What to do with Russia’s frozen central bank money?

With U.S. support for Ukraine in doubt, Kyiv’s European allies are weighing whether to seize $300 billion in frozen Russian assets.

Friedrich Merz, CDU/CSU parliamentary group leader in the Bundestag and CDU federal chairman, makes a statement after the parliamentary group meeting in the Bundestag, Berlin, Friday, March 14, 2025. (Michael Kappeler/dpa via AP)

German parties agree deal to loosen debt limit, expand defense spending as Europe called to do more

German lawmakers have reached an agreement to exempt some defense spending from the nation’s tight rules on running up debt.

Steel on coil cars ahead of transport at the main factory of struggling steel producer thyssenkrupp in Duisburg, Germany, Tuesday, Feb. 4, 2025. (AP Photo/Martin Meissner, File)

Canada and the EU swiftly retaliate against Trump’s steel and aluminum tariffs

Canada and the European Union swiftly hit back at increased steel and aluminum tariffs imposed by U.S. President Donald Trump.

The sun has set behind the European Central Bank, right, in Frankfurt, Germany, Wednesday, March 5, 2025, the day before the meeting of the ECB's governing council. (AP Photo/Michael Probst)

European Central Bank cuts rates again as threat of trade war with Trump weighs on economy

The European Central Bank is cutting interest rates by a quarter percentage point, lowering credit costs for consumers and businesses to support an economy that is struggling to show solid growth.

Friedrich Merz, left, leader of the Christian Democratic Union (CDU) and Lars Klingbeil, co-leader of the Social Democratic Party (SPD) address the media during a press conference in Berlin, Germany, Tuesday, March 4, 2025. (Carsten Koall/dpa via AP, File)

Germany to ease government debt limits in major step aimed at boosting economy, defense spending

The two political parties expected to form the next German government have agreed to significantly loosen the country’s constitutional restriction on deficits, enabling 1 trillion euros ($1.08 trillion) or more in new borrowing and spending on defense and infrastructure.

The European Central Bank is pictured in Frankfurt, Germany, Wednesday, Jan. 24, 2024. (AP Photo/Michael Probst, File)

Inflation eases to 2.4% in Europe, supporting likely central bank rate cut

Inflation in Europe eased to 2.4% in February, supporting the case for another interest rate cut from the European Central Bank but leaving open how far the central bank will go in lowering borrowing costs.

The hands of Friedrich Merz, leader of the Christian Democratic Union (CDU), as he speaks during a news conference at the headquarters of Christian Democratic Union (CDU) party in Berlin, Germany, Monday, Feb. 24, 2025. (AP Photo/Martin Meissner)

German business leaders say new government must act quickly to rescue stagnant economy

Germany’s businesses have been frustrated by government inaction on the stagnating economy. Sunday’s national election raises hopes of a stable two-party coalition of conservatives and center-left Social Democrats, with center-right leader Friedrich Merz as likely chancellor.

A DHL logistics center is now located on the ten years ago closed former Opel car factory site, as a symbol of Germany's economic structural change from industry to services in Bochum, Germany, Friday, Feb. 7, 2025. It is the third transition of the site, that once was a coal mine since 1865, then a car plant for 55 years, and now a logistic center and office park. (AP Photo/Martin Meissner, File)

Germany’s economy is in the dumps. Here are 5 reasons why

Germany hasn’t seen significant economic growth in five years. It’s a stunning turnaround for Europe’s biggest economy.

A man works on fans at an EBM-Papst plant in Hollenbach, Germany, Tuesday, Feb. 4, 2025. (AP Photo/Michael Probst)

Fixing Germany’s economy is a critical task for the country’s next government

Germany needs a new business model to get its stalled economy going again. Delivering that fresh growth strategy is going to be the biggest challenge for the government that takes office after a snap national election set for Feb. 23.

The Euro sculpture stands in front of the former headquarters of the European Central Bank (ECB) in Frankfurt, Germany, Tuesday, May 23, 2023. (AP Photo/Michael Probst, File)

European Central bank cuts benchmark rate by a quarter percentage point to boost stagnant economy

The European Central Bank is cutting its key interest rate, a step to boost an economy that’s struggling to grow as consumers burned by inflation warily eye price tags and businesses try to chart a course amid political turmoil in leading economies France and Germany.

President of the European Central Bank Christine Lagarde speaks during a plenary session in the Congress Hall during the 55th annual meeting of the World Economic Forum (WEF), in Davos, Switzerland, Friday, Jan. 24, 2025. (Michael Buholzer/Keystone via AP)

As elite Davos event ends, some hail ‘constructive optimism’ despite divisions, suffering in world

The World Economic Forum’s annual gathering of elites in Davos has ended with many business leaders, world-class academics, top government officials and other elites casting an upbeat tone about economic prospects, efforts to end wars and technological progress.

Trucks and cars move along on a highway in Frankfurt, Germany, Wednesday, Jan. 15, 2025. (AP Photo/Michael Probst)

Germany’s economy shrank for the second consecutive year in 2024

The German economy shrank for the second straight year in 2024 as worried consumers held back on spending and Chinese competition ate into the country’s traditional exports of cars and industrial machinery.

The Cook Islands-registered oil tanker Eagle S is anchored near the Kilpilahti port in Porvoo on the Gulf of Finland, Dec. 30, 2024. (Jussi Nukari/Lehtikuva via AP, File)

Shadow fleet of tankers keeps Russia’s oil money flowing despite Western sanctions

The Group of Seven democracies has sought to crimp Russia’s oil export earnings that help fund the war against Ukraine.

German President Frank-Walter Steinmeier announces the decision to dissolve the German Bundestag and schedules a new election for February 23 next year, in Berlin, Friday, Dec. 27, 2024. (S'ren Stache/dpa via AP)

Germany’s president dissolves parliament, sets national election for Feb. 23

Germany is headed for a national election seven months early. President Frank-Walter Steinmeier ordered the parliament dissolved and set new elections for Feb. 23.

This photo provided by Rajavartiosto (Finnish Border Guard) on Thursday, Dec. 26, 2024, shows the oil tanker Eagle S, background, and the Finnish Border Guard ship Turva at sea outside Porkkalanniemi, Finland. The Eagle S was sailing at the same time in the area where the Finland-Estonia electrical link was disrupted on Wednesday. (Rajavartiosto via AP)

Finland stops Russia-linked vessel over damaged undersea power cable in Baltic Sea

Finnish police say authorities detained a ship linked to neighboring Russia as they investigate whether it damaged a Baltic Sea power cable and several data cables. It was the latest incident involving disruption of key infrastructure.

VW wage deal for 120,000 German workers avoids layoffs, plant closures

Volkswagen’s employee representatives say they have reached a wage deal. The deal will ward off management proposals for plant closings in Germany and bars involuntary layoffs through 2030.

Russian President Vladimir Putin gestures while speaking during his annual news conference and call-in show at Gostinny Dvor in Moscow, Russia, Thursday, Dec. 19, 2024. (AP Photo/Alexander Zemlianichenko)

Russia’s central bank holds off on interest rate hike amid friction between inflation, war spending

Russia’s central bank has left its benchmark interest rate at a record 21%, holding off on further increases despite high consumer inflation fueled by the Kremlin’s war against Ukraine.

President of the European Central Bank Christine Lagarde arrives for a press conference at the ECB headquarters in Frankfurt, Germany, Thursday, Dec. 12, 2024. (Arne Dedert/dpa via AP)

ECB cuts rates a quarter point amid concerns of tepid growth, impact of Trump trade policies

The European Central Bank is cutting interest rates by a quarter percentage point amid signs of weakening growth and concern about the impact of political chaos in France and the possibility of new U.S. import tariffs.

A light installation is projected onto the building of the European Central Bank during a rehearsal in Frankfurt, Germany, Thursday, Dec. 30, 2021. (Photo/Michael Probst, File)

Europe’s economy needs help. Political chaos in France and Germany means it may be slower in coming

Europe’s economy has enough difficulties, from tepid growth to trade tensions with the U.S. Dealing with those woes is only getting harder due to the political chaos in the two biggest European countries, France and Germany.

Key members of OPEC+ alliance are putting off production increases amid slack crude prices

Eight members of the OPEC+ alliance of oil exporting countries have decided to put off increasing oil production as they face weaker than expected demand and competing production from non-allied countries — factors that could keep oil prices stagnant into next year.

A pedestrian walks in a street near an exchange office sign showing the currency exchange rates of the Russian ruble, British pound sterling and Swiss franc in Moscow, Russia, Thursday, Nov. 28, 2024. (AP Photo/Pavel Bednyakov)

The ruble’s in a slump. For the Kremlin, that’s a two-edged sword

Russia’s ruble is sagging against other currencies, complicating the Kremlin’s efforts to keep consumer inflation under control with one hand even as it overheats the economy with spending on the war against Ukraine with the other.

Inflation rose to 2.3% in Europe. That won’t stop the central bank from cutting interest rates

Inflation in the 20 countries that use the euro currency rose in November — but that likely won’t stop the European Central Bank from cutting interest rates as the prospect of new U.S. tariffs from the incoming Trump administration adds to the gloom over weak growth.

Electric vehicle charging stations are seen in Beijing, Friday, Oct. 11, 2024. (AP Photo/Caroline)

After fast start, electric cars need a recharge as range limits, cost leave some drivers skeptical

While sales of electric vehicles surge in China, the spread of more environmentally friendly vehicles is stumbling in the United States and Europe as carmakers and governments struggle to meet years-old promises about affordability and charging stations.

The Bosch plant in Hildesheim, Germany, is shown Friday, Nov 22, 2024. (Alicia Windzio/dpa via AP)

German auto supplier Bosch to cut 5,500 jobs in further sign of carmakers’ woes

Germany’s technology and services company Bosch is cutting its automotive division workforce by as many as 5,500 jobs in the next several years, in another sign of the headwinds hitting the German and global auto industries.