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President Donald Trump credited his tough trade policies with helping boost U.S. economic growth, even as businesses lament that his trade war is weighing on business investment and confidence. In response to a pointed question from John Hess, CEO of the global energy firm Hess Corporation, Trump denied his erratic trade actions have created business uncertainty. Rather, he argued it would be far worse for the United States in the long term if it did not aggressively challenge China’s trade policy during the current period of relatively strong economic growth. "There is no uncertainty. We're the bank that everybody wants to take from," Trump told attendees of a lunch sponsored by the Economic Club of New York. “The real cost, John, would be if we did nothing. The cost of doing nothing was killing us as a country. Our national debt and so many other things, but it was killing us." Story Continued Below Trump meandered through other topics such as climate c...

House Speaker Nancy Pelosi said Thursday that she doubts Congress has enough time left to pass the USMCA this year, but Democrats and the Trump administration will continue talks next week to work out a compromise on remaining issues. U.S. Trade Representative Robert Lighthizer met with Pelosi and House Ways and Means Chairman Richard Neal (D-Mass.) midday to discuss the last sticking points of the deal. Democrats want President Donald Trump’s trade chief to deliver on stronger enforcement mechanisms in the USMCA before a House vote is held. But lawmakers emerged without any announcement. “We made progress. I think we’re narrowing our differences,” Pelosi said as she left the hour-and-a-half-long meeting on Capitol Hill. Story Continued Below Pelosi acknowledged earlier on Thursday that numerous steps must be carried out even after an agreement is reached with Lighthizer. Thursday is the last day before Thanksgiving break for the House. The Trump administration and some ...

Trump administration officials are considering whether to start a new trade investigation against the European Union as the window closes for hitting Brussels with automobile tariffs, according to multiple people briefed on the issue. Such a move would mean that European auto imports wouldn't be subject to duties out of national security concerns, but the trading bloc would be subject to a much broader inquiry, the people said. “What it would do is it would create a situation that for another year would give the president leverage over the EU,” said a former administration official. Story Continued Below President Donald Trump was supposed to make a decision by Nov. 14 on whether to take action against imports of automobiles and auto parts from the EU. But with the deadline passed, questions are now being raised over whether he can continue using Section 232 of the Trade Expansion Act of 1962 to take any future tariff action. The previously little-used provision allo...

Pelosi and Democrats have repeatedly said they need to be sure the new pact includes stronger enforcement mechanisms before a House vote could be held. Speaker Nancy Pelosi said Monday that House Democrats and the Trump administration have worked out their issues on the USMCA, but she wants to see it in writing before declaring victory. “We are within range of a substantially improved agreement for America’s workers. Now, we need to see our progress in writing from the Trade Representative for final review,” Pelosi said in a statement. U.S. Trade Representative Robert Lighthizer had a sit-down with Pelosi and House Ways and Means Chairman Richard Neal (D-Mass.) late last week to discuss the last sticking points with the NAFTA update. They did not strike a deal then but committed to continuing talks this week in an effort to finish negotiations. U.S. Trade Representative Robert Lighthizer had a sit-down with Pelosi and House Ways and Means Chairman Richard Neal (D-Mass.) la...