President Trump is entering a critical week for the economy amid growing fears that his penchant for tariffs could stall growth and undercut progress on inflation.

Trump has described Wednesday as “Liberation Day,” when his administration will impose sweeping reciprocal tariffs on other nations with duties on U.S. goods. The March jobs report will also be released on Friday, providing additional data about the strength of the labor market, particularly in the wake of thousands of federal government employees fired by the administration.

With decision day looming this week for President Donald Trump’s latest round of tariffs, Goldman Sachs expects aggressive duties from the White House to raise inflation and unemployment and drag economic growth to a near-standstill.

The investment bank now expects that tariff rates will jump 15 percentage points, its previous “risk-case” scenario that now appears more likely when Trump announces reciprocal tariffs on Wednesday. However, Goldman did note that product and country exclusions eventually will pull that increase down to 9 percentage points.

President Donald Trump's tariffs on automobiles and automobile parts are going to hit some automakers harder than others, particularly among those with a lower share of their U.S.-sold vehicles assembled outside the U.S.

For instance, Volvo, Mazda, Volkswagen and Hyundai Motor, which include the brands Genesis and Kia, imported at least 60% of their respective U.S. sales in 2024, according to S&P Global Mobility. 

Comparatively, Ford, Honda, Stellantis and General Motors have the most cars made in the U.S., the S&P Global Mobility report showed. 

Florida’s Senate Committee on Commerce and Tourism approved a bill that relaxes child labor laws. The bill removes restrictions on 16- and 17-year-olds to work up to eight hours a day before 6:30 a.m. or after 11 p.m., even on school nights.

It also removes mandated breaks for those working four continuous hours and eases restrictions for 14 and 15-year-olds with certain qualifications.

Bill sponsor Sen. Jay Collins, R-Tampa, argues it supports parental rights and aligns with federal laws, while critics warn it could lead to exploitation.

United States Postal Service Postmaster General Louis DeJoy stepped down from his role Monday.

DeJoy was nearing his fifth year in the role and left his 10-year plan for the organization for his successor to accomplish. Meanwhile, President Donald Trump has teased his own plan to privatize the service.

The FBI has cut staffing in an office focused on domestic terrorism and has scrapped a tool used to track such investigations, in a shift that could undermine law enforcement’s ability to counter white supremacists and anti-government extremists, according to sources familiar with the matter.

The moves, sources said, are an indication that domestic terrorism investigations, which in recent years have largely involved violence fueled by right-wing ideologies, may be less of a priority under FBI Director Kash Patel, a prominent critic of the effort...

A U.S. appeals court on Friday refused to pause a judge's ruling requiring the Trump administration to reinstate 25,000 workers at 18 federal agencies who lost their jobs as part of the Republican president's purge of the federal workforce.

A panel of the Richmond, Virginia-based 4th U.S. Circuit Court of Appeals said there was no reason to pause the decision because the judge in Baltimore, Maryland is expected to decide next week whether to extend it further, in a lawsuit brought by 19 Democrat-led states and Washington, D.C....

“Cheap labor,” according to Vice President JD Vance, “inhibits innovation” and is “a drug that too many American firms got addicted to” over previous decades of globalization.

“Whether we were offshoring factories to cheap labor economies or importing cheap labor through our immigration system,” Vance continued, “cheap labor became the drug of Western economies.”

The Federal Reserve announced Wednesday it will leave interest rates unchanged as President Donald Trump’s tariff policies weigh on economic growth.