Presidential Election of 2024

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      Crony Capitalism Is Coming to America

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      It’s late 2025, and Donald Trump has done what he said he would do: impose high tariffs — taxes on imports — on goods coming from abroad, with extremely high tariffs on imports from China. These tariffs have had exactly the effect many economists predicted, although Trump insisted otherwise: higher prices for American buyers.Let’s say you have a business that relies on imported parts — maybe from China, maybe from Mexico, maybe from somewhere else. What do you do?Well, U.S. trade law gives the executive branch broad discretion in tariff-setting, including the ability to grant exemptions in special cases. So you apply for one of those exemptions. Will your request be granted?In principle, the answer should depend on whether having to pay those tariffs imposes real hardship and threatens American jobs. In practice, you can safely guess that other criteria will play a role. How much money have you contributed to Republicans? When you hold business retreats, are they at Trump golf courses and resorts?I’m not engaging in idle speculation here. Trump imposed significant tariffs during his first term, and many businesses applied for exemptions. Who got them? A recently published statistical analysis found that companies with Republican ties, as measured by their 2016 campaign contributions, were significantly more likely (and those with Democratic ties less likely) to have their applications approved.But that was only a small-scale rehearsal for what could be coming. While we don’t have specifics yet, the tariff proposals Trump floated during the campaign were far wider in scope and, in the case of China, far higher than anything we saw the first time around; the potential for political favoritism will be an order of magnitude greater.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Newsom Challenges Trump on Electric Vehicle Tax Credits

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      Gov. Gavin Newsom said California would fill the void for residents if the Trump administration killed a $7,500 E.V. tax credit.California will step in and provide rebates to eligible residents who buy electric vehicles if President-elect Donald J. Trump ends the $7,500 federal E.V. tax credit, Gov. Gavin Newsom said on Monday.“We will intervene if the Trump administration eliminates the federal tax credit, doubling down on our commitment to clean air and green jobs in California,” Mr. Newsom, a Democrat, said in a statement. “We’re not turning back on a clean transportation future — we’re going to make it more affordable for people to drive vehicles that don’t pollute.”Mr. Newsom’s proposal comes as California officials gird for an extended battle with the incoming Trump administration over environmental policy, immigration and other issues. As he did during his first term, Mr. Trump is expected to try once again to block California’s authority to set auto emissions limits that are stricter than federal standards.Already, Mr. Newsom has called a special session of the California Legislature for December, in part to discuss an increase in funding for litigation. During Mr. Trump’s first term, California sued his administration more than 120 times.Mr. Trump cannot unilaterally eliminate the electric vehicle tax credits, which are part of the Inflation Reduction Act of 2022. Congress would have to amend the law or pass a new one to erase the credits. But his transition team has indicated that the president-elect wants the credits gone.Under the law, consumers can lower the purchase price of an electric, plug-in hybrid or fuel-cell vehicle by up to $7,500 for a new vehicle and up to $4,000 for a used one. There are some restrictions, including income ceilings, for those who qualify.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      The Markets Cheer Trump’s Treasury Pick, Scott Bessent

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      Investors seemed to signal their approval for Scott Bessent as a safe choice to implement the president-elect’s economic agenda.Stocks and bonds are gaining on Monday, as investors seem to cheer the pick of Scott Bessent to run the Treasury Department.Dominic Gwinn/Middle East Images/AFP via Getty ImagesA steady hand Stocks and bonds are rising on Monday, and the dollar is down. On the first trading day since Donald Trump chose the billionaire financier Scott Bessent as his pick for Treasury secretary, investors seem to be signaling they like the choice.The hedge fund mogul is seen as a steady hand to enact the president-elect’s economic vision — and, just as important, oversee the $28 trillion Treasuries market. “Investors prefer orthodoxy, predictability, and coherence from economic policy; there were fears that some of the candidates may not possess those attributes. Bessent does,” Paul Donovan, chief economist of UBS Global Wealth Management, wrote in a research note on Monday.The Key Square Group founder overcame serious opposition from some in Trump’s inner circle. Elon Musk derided Bessent as a “business-as-usual choice” and threw his weight behind Howard Lutnick, the C.E.O. of Cantor Fitzgerald. When Trump tapped Lutnick to lead the Commerce Department instead, Bessent was left to fight it out against the likes of Mark Rowan, the boss of Apollo Global Management, the private equity giant.Bessent won a “knife fight” to get the nod. On Wall Street, a document was circulated suggesting that his Key Square hedge fund had underperformed the booming markets. Bessent’s ascent is notable in that he doesn’t appear to have been on Trump’s radar during his first administration.His background as a former Democratic donor who worked with George Soros, a villain for the right, has also been scrutinized. (Interesting fact: Bessent furnished the progressive billionaire financier with key data that prompted Soros to make one of his most famous trades: shorting the British pound.) Some Trump backers, including Palmer Luckey, the defense tech entrepreneur, worried about Bessent’s commitment to the president-elect’s America-first agenda.Investors appear to have fewer qualms. Bessent gets high marks as a fiscal conservative and a champion of growth — at Key Square, he told clients that Trumponomics would usher in an “economic lollapalooza” — through deregulation and lower taxes.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Los inmigrantes en todo EE. UU. se preparan para las medidas de Trump

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      La promesa del presidente electo de llevar a cabo deportaciones masivas ha empujado a los inmigrantes a buscar medidas de protección y asesoramiento.El presidente electo Donald Trump ha prometido reducir drásticamente la inmigración, tanto legal como ilegal, y aumentar las deportaciones desde el primer día.Los inmigrantes se apresuran a adelantarse a la ofensiva.Los residentes nacidos en el extranjero han estado saturando las líneas telefónicas de los abogados de inmigración. Están abarrotando las reuniones informativas organizadas por organizaciones sin fines de lucro. Y están tomando todas las medidas posibles para protegerse de las medidas radicales que Trump ha prometido emprender tras su toma de posesión el 20 de enero.“Gente que debería estar asustada está viniendo, y gente que está bien con una green card se está apresurando a venir”, dijo Inna Simakovsky, abogada de inmigración en Columbus, Ohio, quien añadió que su equipo se ha visto desbordado por las consultas. “Todo el mundo tiene miedo”, dijo.Las personas con tarjeta de residencia permanente, o green card, quieren convertirse en ciudadanos lo antes posible. Las personas que tienen un estatus legal precario o entraron ilegalmente en el país se apresuran a solicitar asilo, porque incluso si la petición es débil, tener un caso pendiente los protegería —con los protocolos actuales— de la deportación. Las personas que tienen una relación con algún ciudadano estadounidense están tramitando su matrimonio con rapidez, lo que les da derecho a solicitar la green card.En total, hay unos 13 millones de personas con residencia legal permanente. Y se calcula que había 11,3 millones de personas indocumentadas en 2022, la última cifra disponible.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Joel Grey: ‘Cabaret’ Was a Warning. It’s Time to Heed It.

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      This past week marked 58 years since the opening night for the Broadway premiere of “Cabaret” in 1966. At the time, the country was in deep turmoil. Overseas, the Vietnam War was escalating, and at home, our most regressive forces were counterpunching against the progress demanded by the civil rights movement. The composer John Kander, the lyricist Fred Ebb and the playwright Joe Masteroff wrote “Cabaret” in collaboration with the director Harold Prince as a response to the era. The parallels between the rise of fascism in 1930s Berlin as depicted in the show and the mounting tensions of the 1960s in America were both obvious and ominous.I played the Emcee — the Kit Kat Club’s master of distraction, keeping Berlin mesmerized while Nazism slipped in through the back door. Night after night, I witnessed audiences grappling with the raw, unsettling reflection that “Cabaret” held up to them. Some material was simply too much for the audience to handle. “If You Could See Her,” which has the Emcee singing of his love for a gorilla — a thinly veiled commentary on antisemitic attitudes — ended with the lyric: “If you could see her through my eyes, she wouldn’t look Jewish at all.”When we first performed it, in Boston, audiences gasped and recoiled. It was too offensive, too raw, too cruel. Producers fretted and the line was changed to “She isn’t a meeskite at all,” softening the blow, yes, but also the impact. I resented the change and would often, to the chagrin of stage management, “forget” to make the swap throughout that pre-Broadway run.I’m hearing from friends in the current Broadway production of “Cabaret” that the line is once again getting an audible response, but of a different sort. On more than one occasion in the past two weeks — since the election — a small number of audience members have squealed with laughter at “She wouldn’t look Jewish at all.” In the late 1960s, we softened the line because the truth was too hard to hear. Today, it seems the line is playing exactly as the Nazi-sympathizing Emcee would have intended.My initial assessment, when word first reached me about this unusual reaction, was that these must be the triumphant laughs of the complicit, suddenly drunk on power and unafraid to let their bigotry be known. Now I find myself considering other hypotheses. Are these the hollow, uneasy laughs of an audience that has retreated into the comfort of irony and detachment? Are these vocalized signals of acceptance? Audible white flags of surrender to the state of things? A collective shrug of indifference?I honestly don’t know which of these versions I find most ominous, but all of them should serve as a glaring reminder of how dangerously easy it is to accept bigotry when we are emotionally exhausted and politically overwhelmed.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Trump Is Running His Transition Team on Secret Money

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      Breaking with past practice, President-elect Donald J. Trump has not agreed to disclose the donors paying for his planning effort or to limit their contributions.President-elect Donald J. Trump is keeping secret the names of the donors who are funding his transition effort, a break from tradition that could make it impossible to see what interest groups, businesses or wealthy people are helping launch his second term.Mr. Trump has so far declined to sign an agreement with the Biden administration that imposes strict limits on that fund-raising in exchange for up to $7.2 million in federal funds earmarked for the transition. By dodging the agreement, Mr. Trump can raise unlimited amounts of money from unknown donors to pay for the staff, travel and office space involved in preparing to take over the government.Mr. Trump is the first president-elect to sidestep the restrictions, provoking alarm among ethics experts.Those seeking to curry favor with the incoming administration now have the opportunity to donate directly to the winning candidate without their names or potential conflicts ever entering the public sphere. And unlike with campaign contributions, foreign nationals are allowed to donate to the transition.“When the money isn’t disclosed, it’s not clear how much everybody is giving, who is giving it and what they are getting in return for their donations,” said Heath Brown, a professor of public policy at John Jay College of Criminal Justice who studies presidential transitions. “It’s an area where the vast majority of Americans would agree that they want to know who is paying that bill.”Mr. Trump’s transition team, led by Linda McMahon and Howard Lutnick, both of whom were nominated to cabinet positions last week, has repeatedly said it intends to sign the agreements with the Biden administration, known as memorandums of understanding.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Trump’s Choices for Health Agencies Suggest a Shake-Up Is Coming

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      The picks to oversee public health have all pushed back against Covid policies or supported ideas that are outside the medical mainstream.A longtime leader of the anti-vaccine movement. A highly credentialed surgeon. A seven-term Florida congressman. A Fox News contributor with her own line of vitamins.President-elect Donald J. Trump’s eclectic roster of figures to lead federal health agencies is almost complete — and with it, his vision for a sweeping overhaul is coming into focus.Mr. Trump’s choices have varying backgrounds and public health views. But they have all pushed back against Covid policies or supported ideas that are outside the medical mainstream, including an opposition to vaccines. Together, they are a clear repudiation of business as usual.“What they’re saying when they make these appointments is that we don’t trust the people who are there,” said Dr. Paul Offit, director of the Vaccine Education Center at Children’s Hospital of Philadelphia and an adviser to the Food and Drug Administration.Some doctors and scientists are bracing themselves for the gutting of public health agencies, a loss of scientific expertise and the injection of politics into realms once reserved for academics. The result, they fear, could be worse health outcomes, more preventable deaths and a reduced ability to respond to looming health threats, like the next pandemic. “I’m very, very worried about the way that this all plays out,” Dr. Offit said.But other experts who expressed concerns about anti-vaccine views at the helms of the nation’s health agencies said that some elements of the picks’ unorthodox approaches were welcomed. After a pandemic that closed schools across the country and killed more than one million Americans, many people have lost faith in science and medicine, surveys show. And even some prominent public health experts were critical of the agencies’ Covid missteps and muddled messaging on masks and testing.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Kim Kardashian exhibe productos de Tesla y desata teorías políticas

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      Sale de fiesta con Ivanka Trump y ha convertido productos de Tesla en accesorios de moda en las redes sociales. Pero asumir que se trata de declaraciones políticas podría ser incorrecto.¿Se ha vuelto Kim Kardashian parte del movimiento MAGA?Esa pregunta circuló por internet esta semana después de que Kardashian, la personalidad de la telerrealidad y preeminente influente de las redes sociales, publicara una serie de fotografías suyas en Instagram y X posando delante y dentro de un Tesla Cybercab.Llevaba tacones negros y medias de encaje sobre su característico conjunto moldeador de color nude, con un liguero y una chaqueta negra abultada. Un robot Optimus —que al parecer será capaz de hacer prácticamente cualquier cosa, ya sea manejar un Cybertruck o freír un huevo— iba sentado en el asiento del conductor.Había fotos de Kardashian de pie fuera del vehículo. Había fotos de ella sentada en el regazo del robot. Un representante de Kardashian, quien ha ocultado algunos contenidos patrocinados en el pasado, dijo que no se recibieron pagos a cambio de las publicaciones.El momento elegido para hacer estas publicaciones fue sin duda curioso. El director ejecutivo de Tesla, Elon Musk, ha ganado nueva prominencia como uno de los aliados más notables del presidente electo Donald Trump, e incluso Trump le ha pedido que se una a Vivek Ramaswamy para dirigir un nuevo “departamento de eficiencia gubernamental”.Esa conexión fue suficiente para que la gente empezara a especular sobre sus motivaciones, y algunos llegaron a conectar esos cargos con la aparente amistad de Kardashian con Ivanka Trump, la hija de Donald Trump, para reforzar la teoría de que había respaldado políticamente a Trump.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More