By ALEX VEIGA, AP Business Writer
The average rate on a 30-year mortgage in the U.S. edged higher this week, ending a seven-week slide that helped ease borrowing costs for home shoppers leading into the spring homebuying season.
By PAUL WISEMAN, AP Economics Writer
WASHINGTON (AP) — U.S. wholesale inflation decelerated last month, suggesting that price pressures are easing for now. But the progress may not last as President Trump intensifies his trade wars.
By AAMER MADHANI, Associated Press
WASHINGTON (AP) — President Donald Trump on Thursday threatened a 200% tariff on European wine, Champagne and spirits if the European Union goes forward with a planned tariff on American whiskey.
The European tariff, which was unveiled in response to steel and aluminum tariffs by the U.S. administration, was expected to go into effect on April 1.
But Trump, in a morning social media post, vowed a new escalation in his trade war if the EU pushes ahead with the planned 50% tariff on American whiskey.
“If this Tariff is not removed immediately, the U.S. will shortly place a 200% Tariff on all WINES, CHAMPAGNES, & ALCOHOLIC PRODUCTS COMING OUT OF FRANCE AND OTHER E.U. REPRESENTED COUNTRIES,” Trump wrote. “This will be great for the Wine and Champagne businesses in the U.S.”
By STAN CHOE, Associated Press Business Writer
NEW YORK (AP) — The U.S. stock market is falling Thursday, even after getting a double-shot of encouraging news on the economy. President Donald Trump keeps upping the stakes in his trade war, with his most recent threat to tax wines and other alcohol coming from Europe.
The S&P 500 was down 0.8% in morning trading, coming off a dizzying stretch where it set a record and then briefly tumbled as much as 10% from the mark within just a few weeks. The Dow Jones Industrial Average was down 192 points, or 0.5%, as of 10 a.m. Eastern time, and the Nasdaq composite was 1.5% lower.
Stocks have been turbulent because of questions about how much pain Trump will let the economy endure through tariffs and other policies in order to reshape the country and world as he wants. He’s said he wants manufacturing jobs back in the United States, along with a smaller U.S. government workforce and other fundamental changes.
Trump on Thursday said he would put 200% tariffs on European wine and champagne if the European Union doesn’t roll back a “nasty” tariff it placed on U.S. whiskey. The European Union announced that move on Wednesday, in response to U.S. tariffs on European steel and aluminum that kicked in earlier in the day.
Universal Orlando is now selling more tickets to Epic Universe, including a one-day pass to the new theme park currently under construction.
Admission is available as of June 1, although Epic officially opens to the public on May 22. Tickets are now on sale for dates through the rest of 2025. The price varies by date.
The current one-day price for Epic ranges between $139 and $199. According to Universal’s website, tickets for June 1 are $179. They fall to $139 after Labor Day, typically a less congested time for theme parks. Admission surges to $199 for this ticket in the final week of 2025. (Tickets for children ages 3 to 9 are generally $5 less.)
Universal: New online maps give bird’s-eye — or dragon’s-eye — view of Epic Universe’s layout
The resort also added a two-day pass for Florida residents that includes one day at Epic, then another day at Universal Studios or Islands of Adventure. Prices range between $232 and $340, depending on date. (Price is determined by rate on the first day of pass.) Some versions allow park-to-park movement between Islands and Studios on the non-Epic day.