Morning Business Report: Trump threatens Bombardier U.S. sales as Canada imposes retaliatory tariffs
President Donald Trump says Canadian aircraft manufacturer Bombardier should no longer be allowed to sell its products in the United States unless it begins manufacturing them in the country.
(LILAMAX)- President Donald Trump says Canadian aircraft manufacturer Bombardier should no longer be allowed to sell its products in the United States unless it begins manufacturing them in the country.
Trump’s announcement comes amid an escalating trade dispute between the United States and Canada. About $20 billion worth of Canadian retaliatory tariffs on U.S. goods took effect Tuesday. Bombardier generates a significant portion of its business in the United States, making the American market particularly important to the Canadian aircraft manufacturer.
Meanwhile, Americans without college degrees are experiencing one of the strongest job markets in years, according to the Burning Glass Institute. The labor-market think tank says demand for skilled tradespeople is outpacing supply. At the same time, workers with advanced degrees or backgrounds in fields such as science and technology are facing a more difficult employment market.
On Wall Street, stocks fell Friday after a stronger-than-expected jobs report increased expectations that the Federal Reserve could raise interest rates this month.
The Transportation Security Administration is also introducing a program that will allow some people who are not flying to go beyond airport security.The TSA Gateside program will allow eligible TSA PreCheck members to see off or greet family and friends at the gate. The program could also allow business travelers to meet during long layovers and visitors to access restaurants and stores beyond security checkpoints. The program is not yet available at every airport, but the TSA plans to expand it.
And the number of retirement accounts worth at least $1 million has reached a record high.
The number of Fidelity Investments-managed 401(k) accounts with balances of at least $1 million increased 19% between the first and second quarters, reaching a record 769,000 accounts.
