Welcome to The Hill’s Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Trump tax bill would add $2.4 trillion to deficits: CBO President Trump’s “big, beautiful bill” would add $2.

South Korea said newly elected President Lee Jae-myung spoke for the first time with Donald Trump and agreed to seek “tangible results” in trade negotiations, after the US leader imposed a 25% tariff on all imports from its Asian ally.

China and the U.S. have agreed to more tariff talks amid a trade standoff and concerns over rare earths, President Donald Trump said Thursday after a call with China's leader. Trump and Chinese leader Xi Jinping spoke on Thursday at a time when stalled tariff negotiations between their two countries have roiled global trade.

The US trade deficit more than halved in April as President Donald Trump's global tariffs reversed an import surge that preceded the new duties.

President Donald Trump spoke with Chinese leader Xi Jinping on Thursday morning about their ongoing trade war, with Trump saying the two leaders agreed to have their teams resume talks “shortly.” Trump wrote on Truth Social that the call lasted about 90 minutes and focused “almost entirely on trade,