The success of a key NATO summit hung in the balance on Friday, after Spain announced that it cannot raise the billions of dollars needed to meet a new defence investment pledge demanded by U.S. President Donald Trump. Trump and his NATO counterparts are meeting for two days in the Netherlands from next Tuesday. He … Read more
As Senate Republicans release key details of President Donald Trump’s spending package, some provisions, including the federal deduction for state and local taxes, known as SALT, remain in limbo. Enacted via the Tax Cuts and Jobs Act, or TCJA, of 2017, there’s currently a $10,000 limit on the SALT deduction through 2025. Before 2018, the … Read more
Customers look at clothes advertising discounts of 80% or 70% in a supermarket in Hangzhou, Zhejiang province, China, on June 9, 2025. Cfoto | Future Publishing | Getty Images BEIJING — China’s consumer spending shows little sign of picking up soon, given uncertainty about future wealth, changing preferences and lack of a social safety net. … Read more
Ottawa is reviewing its defence spending plans “from top to bottom,” Defence Minister David McGuinty said Thursday, as Canada comes under pressure from allies to ramp up spending to levels not seen since the height of the Cold War. McGuinty said the federal government will have more to say “very soon” about its alliance spending … Read more