Finance

Trump says tariffs coming in April will ‘probably be more lenient than reciprocal’

Published

3 days ago

March 26, 2025

US President Donald Trump meets with US Ambassadors in the Cabinet Room of the White House in Washington, DC, on March 25, 2025.

Mandel Ngan | AFP | Getty Images

President Donald Trump said that tariffs will likely be more “lenient than reciprocal,” as the April 2 tariff deadline looms for a number of levies to go into effect.

“I’ll probably be more lenient than reciprocal, because if I was reciprocal, that would be very tough for people,” Trump said Tuesday in an interview with Newsmax.

“I know there are some exceptions, and it’s an ongoing discussion, but not too many, not too many exceptions,” Trump added.

The comments come as investors worry that a more severe approach signaled by the Trump administration would dampen consumer and corporate sentiment enough to slow down the U.S. economy. On Tuesday, the Conference Board said its measure for consumer expectations on business, income and labor dropped to a 12-year low.

Stocks have struggled recently, with the S&P 500 dropping 3% in the past month. The benchmark also dipped into correction territory amid the tariff pressures, briefly trading more than 10% below a record set in February.

Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.

Finance

Judge orders CFPB to reinstate fired employees, preserve records and get back to work

Published

16 hours ago

March 28, 2025

Business Finance News

FILE PHOTO: Office of Management and Budget (OMB) Acting Director Russell Vought testifies before House Budget Committee on 2020 Budget on Capitol Hill in Washington, U.S., March 12, 2019.

Yuri Gripas | Reuters

A federal judge on Friday ordered the Consumer Financial Protection Bureau’s leadership, appointed by President Donald Trump, to halt its campaign to hobble the agency.

In a filing, Judge Amy Berman Jackson sided with the CFPB employee union which sued acting CFPB director Russell Vought last month to prevent him from laying off nearly all of the regulator’s staff. Operatives from Elon Musk’s Department of Government Efficiency have also been involved in efforts to dismantle the bureau.

Berman ordered Vought to reinstate “all probationary and term employees terminated” after Vought took over at the CFPB, and said that he shouldn’t “delete, destroy, remove, or impair agency data.”

“This order shall bind the defendants, their officers, agents, servants, employees, and attorneys, and any other persons who are in active concert or participation with them, such as personnel from the Department of Government Efficiency (“DOGE”),” Berman wrote.

This story is developing. Please check back for updates.

Finance

Founder Charlie Javice found guilty of defrauding JPMorgan Chase

Published

18 hours ago

March 28, 2025

Business Finance News

Charlie Javice, who is charged with defrauding JPMorgan Chase & Co into buying her now-shuttered college financial aid startup Frank for $175 million in 2021, arrives at United States Court in Manhattan in New York City, June 6, 2023.

Mike Segar | Reuters

Charlie Javice, founder of a startup purchased by JPMorgan Chase in 2021, was convicted in federal court Friday of defrauding the bank by vastly overstating the company’s customer list.

The jury decision comes after weeks of testimony in New York over who was to blame for the flameout of a once-promising startup. JPMorgan accused Javice, 32, of duping the bank into paying $175 million for a company that had more than 4 million customers, when in reality it had fewer than 300,000.

A spokesperson for JPMorgan declined to comment.

This story is developing. Please check back for updates.