Business & Economy

Updated at 5:26 p.m. ET

China's leaders followed President Trump in taking another step toward a new trade war, announcing a plan to put steep tariffs on $50 billion of U.S. imports. China's proposed 25 percent tariffs would target a wide range of American products, from soybeans and whiskey to airplanes and cars.

"China currently buys about $14 billion worth of American soybeans each year — almost a third of the entire U.S. crop," NPR's Dan Charles reports for our Newscast unit. "Prices for U.S. soybeans tumbled by 3 to 5 percent" on the news, Dan adds.

In a much-watched case, a Michigan agency has approved Nestlé's plan to boost the amount of water it takes from the state. The request attracted a record number of public comments — with 80,945 against and 75 in favor.

Nick Evans / WOSU

Main Street in downtown Alexandria stretches a little more than half a mile along State Route 37. There’s a post office on the corner, a couple churches and a library down the road, and a coffee shop right across the street.

Pro Football Hall Of Fame

The Pro Football Hall of Fame in Canton says its billion-dollar expansion project is back on track after questions about funding.

Earlier this year, contractors had filed about $8 million in liens after working on the Hall of Fame’s stadium project. Those liens have been settled, with interest, according to Hall of Fame spokesman Pete Fierle. He also says it’s a “misnomer” that a sales tax increase might be used to help fund the project. 

Updated at 1:30 p.m. ET

China is retaliating against the Trump administration's tariffs on Chinese goods, imposing charges of its own Monday on a list of 128 imports from the United States, including agricultural products ranging from fruit to wine to frozen pork.

China's tariffs add fuel to what many economists fear is a burgeoning trade war between the two economic superpowers.

Despite a wave of controversies, President Trump's popularity seems to be rising ever so slightly, according to a couple of recent polls. The bump may be linked to the fact that more Americans seem to be crediting Trump for the nation's healthy economy.

The U.S. economy grew at a 2.9 percent annual rate in the final three months of 2017, the Commerce Department said Wednesday. That's slightly faster than the previous 2.5 percent growth estimate, but slower than the 3.2 percent pace of the third quarter.

Pixabay

As state lawmakers and citizen activists continue to search for the best ways to regulate the payday loan industry, one local Catholic organization is not waiting.

Firearms manufacturer Remington Outdoor has filed for Chapter 11 bankruptcy protection in hopes of staving off creditors amid a slump in sales and public outcry over gun violence.

Reuters reports that Remington's creditors, including Franklin Templeton Investments and JPMorgan Asset Management, have agreed to exchange debt for equity in the company.

Remington was founded in 1816 in upstate New York and is one of the largest and oldest U.S. producers of firearms. It was bought in 2007 by Cerberus Capital Management for $118 million.

Pages