Tariffs

Subterms

    More stories

    • 200 Shares68 Views

      in US Politics

      Top Russian security official dismisses Trump’s ‘playing with fire’ warning to Putin – US politics live

      by

      Top Russian security official Dmitry Medvedev, responding to Donald Trump’s warning that Vladimir Putin is “playing with fire”, said on Tuesday the only truly bad thing to worry about was World War Three.“Regarding Trump’s words about Putin “playing with fire” and “really bad things” happening to Russia. I only know of one REALLY BAD thing — WWIII. I hope Trump understands this!” Medvedev wrote on X.Margo Martin, special assistant to President Donald Trump, posted a video on X, of the president calling Savannah Chrisley to announce his pardon of her parents, Todd and Julie Chrisley.Martin posted, “President Trump calls @_ItsSavannah_to inform her that he will be granting full pardons to her parents, Todd and Julie Chrisley!”The stars of the reality TV series Chrisley Knows Best rose to fame for showcasing their lavish lifestyle and tight-knit family.In 2019, the Chrisleys were indicted by a federal grand jury on 12 counts of bank and wire fraud, tax evasion and conspiracy, all of which they have denied.The reality stars began their prison sentences in January 2023. Their original sentences, which were 12 years and seven years, respectively, were reduced in September 2023.The possibility of halting abortions in Missouri has resurfaced after the state’s supreme court sent a case back to the lower court for reconsideration.The court ruled today that a district judge had used the wrong legal standard in decisions made in December and February. Those rulings had temporarily allowed abortions to continue in Missouri for the first time since the state’s near-total ban took effect following the US supreme court’s overturning of Roe v Wade in 2022.The high court ordered Judge Jerri Zhang to vacate her previous rulings and reassess the case using the proper legal framework it outlined.The state argued in its March petition that Planned Parenthood failed to prove women were harmed in the absence of the temporary blocks. Instead, officials said Zhang’s rulings left abortion clinics “functionally unregulated” and women with “no guarantee of health and safety.”A judge in Washington struck down an executive order targeting law firm WilmerHale, marking the third ruling to overwhelmingly reject President Donald Trump‘s efforts to punish firms he perceives as enemies of his administration.US District Judge Richard Leon, an appointee of Republican President George W Bush, said Trump’s order retaliated against the firm in violation of US constitutional protections for free speech and due process, Reuters reports.WilmerHale is the former home of Robert Mueller, the Republican-appointed special counsel who led a probe into Russia’s interference in the 2016 presidential election and Trump campaign ties to Moscow. Trump has derided the investigation as a political “witch hunt.”Leon barred federal agencies from enforcing the 27 March executive order against WilmerHale, a 1,100-lawyer firm with offices in Washington, DC and across the country.The Associated Press is reporting that the Trump administration asked the Supreme Court to halt an order allowing migrants to challenge their deportations to South Sudan, an appeal that came hours after the judge suggested the Trump administration was “manufacturing” chaos and said he hoped that “reason can get the better of rhetoric.”Judge Brian Murphy in Boston found the White House violated a court order with a deportation flight to the chaotic African nation carrying people from other countries who had been convicted of crimes in the U.S. He said those migrants must get a real chance to be heard if they fear being sent there could put them in danger, he said.In an emergency appeal, the federal government argued that Murphy has stalled its efforts to carry out deportations of migrants who can’t be returned to their home countries. Finding countries willing to take them is a “a delicate diplomatic endeavor” harmed by the court requirements, Solicitor General D. John Sauer wrote.Murphy, for his part, said he had given the Trump administration “remarkable flexibility with minimal oversight” in the case and emphasized the numerous times he attempted to work with the government, according to an order published Monday night.“From the course of conduct, it is hard to come to any conclusion other than that Defendants invite a lack of clarity as a means of evasion,” the Boston-based Murphy wrote in the 17-page order.Republican Senator Tommy Tuberville announced he is running for Alabama governor in 2026.The Alabama lawmaker launched his campaign website today, and he’s set to officially announce his campaign this afternoon on Fox News.In 2016, he was still working as the University of Cincinnati’s head football coach, and he previously coached at Auburn University in Alabama. In 2020, he won a seat representing Alabama in the United States Senate, his first stint into elected office.Tuberville is looking to succeed term-limited Republican Governor Kay Ivey. He is immediately the frontrunner to win the seat in the deeply-Republican state. The move also sets up an open Senate race in Alabama in the midterms.The senator has been flirting with the idea of going for the governor’s seat for some time now, and was already backed by several groups before announcing his candidacy. GOP groups like the Club for Growth preemptively backed him, and other would-be Republicans candidates like lieutenant governor Will Ainsworth opted out of the race.Donald Trump on Tuesday threatened to “maybe permanently” strip federal funding to California if the state continued to allow transgender athletes to compete in girls’ and women’s sports.In an early post on social media, Trump assailed California Governor Gavin Newsom, accusing him of defying an executive order the president signed earlier this year by continuing to “ILLEGALLY allow MEN TO PLAY IN WOMEN’S SPORTS”.“I will speak to him today to find out which way he wants to go???” Trump said of Newsom. “In the meantime I am ordering local authorities, if necessary, to not allow the transitioned person to compete in the State Finals. This is a totally ridiculous situation!!!”As of midday on the west coast, it remained unclear if the president and the governor had spoken. Nor was it clear what federal funds Trump was threatening to withhold from the state.The White House did not immediately respond to a request for clarity.The president’s post appeared to reference a transgender high school student who recently won the regional girls’ long jump and triple jump competition.Also on Tuesday, the California Interscholastic Federation, the state’s governing body for high school sports, announced that it would pilot an entry process for this weekend’s track and field championship. It said it was extendinga spot to “any biological female student-athlete” who would have qualified in a competition where a transgender athlete secured qualifying marks.In the inaugural episode of his podcast, Newsom said it was“deeply unfair” for transgender athletes to compete in women’s sports. On Tuesday, a spokesperson for his office said the federation’s new policy was “a reasonable, respectful way to navigate a complex issue without compromising competitive fairness” and that Newsom was “encouraged by this thoughtful approach”.Newsom has not responded publicly to the president’s taunt. Until now, Trump has largely avoided the public clashes with Newsom that were commonplace during his first term. Newsom in return has done little to antagonize the president, seeking federal aid to help Los Angeles recover from the devastating fires earlier this year.California law allows transgender students to compete in sports consistent with their gender identity. According to the governor’s office, the number of transgender high school student athletes in California’s 5.8 million student public school system is fewer than 10.The Trump administration has asked the supreme court to intervene in its attempt to rapidly deport migrants to countries other than their own, Reuters is reporting.We’ll bring you more on this as we get it.

      Top Russian security official Dmitry Medvedev, responding to Donald Trump’s warning that Vladimir Putin is “playing with fire”, said that the only truly bad thing to worry about was World War Three. “Regarding Trump’s words about Putin “playing with fire” and “really bad things” happening to Russia. I only know of one REALLY BAD thing — WWIII. I hope Trump understands this!” Medvedev wrote on X.

      Israeli troops opened fire near thousands of hungry Palestinian people as a logistics group chosen by Israel and backed by the US to ship food into Gaza lost control of its distribution centre on its second day of operations.

      The Trump administration has ordered US embassies worldwide to immediately stop scheduling visa interviews for foreign students as it prepares to implement comprehensive social media screening for all international applicants. A Tuesday state department cable instructs consular sections to pause adding “any additional student or exchange visitor (F, M, and J) visa appointment capacity until further guidance is issued” within days.

      The Trump administration is set to order federal agencies to cancel all government contracts with Harvard University worth an estimated $100m, dramatically escalating the president’s assault against America’s most prestigious university.

      King Charles III delivered the “speech from the throne” to open Canada’s parliament, in which he made no direct reference to Donald Trump but was closely watched for implicit criticisms of the US president and his dramatic recasting of the US relationship with Canada. In the speech, which emphasized Canadian values, sovereignty and strength, Charles hailed Canada as “strong and free” and said Canadians can “give themselves far more than any foreign power on any continent can ever take away”.

      The White House has lost confidence in a Pentagon leak investigation that Pete Hegseth used to justify firing three top aides last month, after advisers were told that the aides had supposedly been outed by an illegal warrantless National Security Agency wiretap. The extraordinary explanation alarmed the advisers, who also raised it with people close to vice-president JD Vance, because such a wiretap would almost certainly be unconstitutional and an even bigger scandal than a number of leaks. But the advisers found the claim to be untrue and complained that they were being fed dubious information by Hegseth’s personal lawyer, Tim Parlatore, who had been tasked with overseeing the investigation.

      NPR, the US public broadcaster that provides news and cultural programming to more than 1,000 local stations, has filed a federal lawsuit against Trump’s administration, challenging an executive order that cuts federal funding to the public broadcaster as an unconstitutional attack on press freedom.

      Robert F Kennedy Jr unilaterally announced that the federal Centers for Disease Control and Prevention (CDC) would remove Covid-19 booster shots from its recommended immunization schedule for healthy children and pregnant women, in an unprecedented move from a US health secretary.

      Donald Trump’s media company said that institutional investors will buy $2.5bn worth of its stock, with the proceeds going to build up a bitcoin reserve. About 50 institutional investors will put up $1.5bn in the private placement for common shares in Trump Media and Technology Group, the operator of Truth Social and other companies, and another $1bn for convertible senior notes, according to an announcement from the company.

      Trump threatened to withhold federal funding if California did not stop a transgender girl in high school from competing in state track and field finals, and said he would discuss it with governor Gavin Newsom.

      The United States warned Americans against traveling to Venezuela, emphasizing a growing risk of wrongful detention in the country where there is no US embassy or consulate.

      A federal judge has issued an order temporarily barring the US transportation department from withholding federal funding from New York as the Trump administration seeks to kill Manhattan’s congestion pricing program.
      Top Russian security official Dmitry Medvedev, responding to Donald Trump’s warning that Vladimir Putin is “playing with fire”, said on Tuesday the only truly bad thing to worry about was World War Three.“Regarding Trump’s words about Putin “playing with fire” and “really bad things” happening to Russia. I only know of one REALLY BAD thing — WWIII. I hope Trump understands this!” Medvedev wrote on X.Israeli troops have opened fire near thousands of hungry Palestinians as a logistics group chosen by Israel and backed by the US to ship food into Gaza lost control of its distribution centre on its second day of operations, my colleague Emma Graham-Harrison reports from Jerusalem.An 11-week total siege and an ongoing tight Israel blockade means most people in Gaza are desperately hungry. Hundreds of thousands walked through Israeli military lines to reach the new distribution centre in Rafah on Tuesday.But the newly established Gaza Humanitarian Foundation (GHF), which uses armed American security contractors, was not prepared for them and staff at one point were forced to abandon their posts.“At one moment in the late afternoon, the volume of people at the SDS [secure distribution centre] was such that the GHF team fell back to allow a small number of Palestinians in Gaza to take aid safely and dissipate,” the foundation said in a statement.The Israeli military said it fired “warning shots” near the compound to restore control. It was not immediately clear if there had been any injuries among people trying to get food.On Sunday, Jake Wood, the founding director of the GHF, resigned, my colleague Lorenzo Tondo reported, saying that it would not be possible for the group to deliver aid “while also strictly adhering to the humanitarian principles of humanity, neutrality, impartiality and independence”.The UN and major humanitarian organisations had already refused to work with the GHF on the grounds that doing so would compromise values that are key to reaching civilians in all conflict zones, and put both their teams and recipients of aid in Gaza at risk.They also warned that a newly formed group with no experience would not be able to handle the logistics of feeding over 2 million people in a devastated combat zone.The dangerous chaos on Tuesday appeared to confirm many of those fears. The GHF said its decision to abandon the distribution centre “was done in accordance with GHF protocol to avoid casualties”.And here’s Joseph Gedeon’s story on National Public Radio, the US public broadcaster that provides news and cultural programming to more than 1,000 local stations, filing a federal lawsuit against the Trump administration, challenging an executive order that cuts federal funding to the public broadcaster as an unconstitutional attack on press freedom.Here’s my colleague Leyland Cecco’s story on King Charles III’s speech to Canada’s parliament, in which he made no direct reference to Donald Trump but was closely watched for implicit criticisms of the US president and his dramatic recasting of the US relationship with Canada.Health secretary Robert F Kennedy Jr has announced that the federal Centers for Disease Control and Prevention (CDC) would remove Covid-19 booster shots from its recommended immunization schedule for healthy children and pregnant women.Legal experts said the Trump administration appointee’s decision, which Kennedy announced on social media, circumvented the CDC’s authority to recommend such changes – and that it is unprecedented for a health secretary to unilaterally make such a decision.“I couldn’t be more pleased to announce that as of today, the Covid vaccine shot for healthy children and healthy pregnant women has been removed from the CDC’s recommended immunization schedule,” Kennedy said in the announcement.Kennedy claimed the Biden administration last year “urged healthy children to get yet another Covid shot despite the lack of any clinical data to support the repeat booster strategy in children”.The secretary was flanked by Food and Drug Administration (FDA) commissioner – Dr Marty Makary – and the head of the National Institutes of Health (NIH), Dr Jay Bhattacharya. Neither the head of the FDA nor of the NIH would typically be involved in making vaccine administration recommendations.Bhattacharya claimed the announcement was “common sense and good science”.Removing the booster shot from the recommended immunization schedule could make it more difficult to access – and it could affect private insurers’ willingness to cover the vaccine. About half of Americans receive healthcare through a private insurance company.Such a unilateral change is highly unusual if not unprecedented for a typical US Department of Health and Human Services (HHS) secretary. And it could leave the HHS department open to litigation.Donald Trump’s media company has said that institutional investors will buy $2.5bn worth of its stock, with the proceeds going to build up a bitcoin reserve.About 50 institutional investors will put up $1.5bn in the private placement for common shares in Trump Media and Technology Group, the operator of Truth Social and other companies, and another $1bn for convertible senior notes, according to an announcement from the company.Trump Media said it intended to use the proceeds for the creation of a “bitcoin treasury”. The effort mirrors the president’s moves to create a “strategic bitcoin reserve” for the US government.Trump, who referred to cryptocurrencies in his first term as “not money”, citing volatility and a value “based on thin air”, has shifted his views on the technology. During his campaign, he became the first major candidate to accept donations in the form of cryptocurrency. Since assuming office, he has launched his own cryptocurrency.Last week, Trump rewarded 220 of the top investors in one of his other cryptocurrency projects – the $Trump memecoin – with a swanky dinner luxury golf club in northern Virginia, spurring accusations that the president was mixing his duties in the White House with personal profit.During an event at his Mar-a-Lago club in Florida during his presidential campaign in May 2024, Trump received assurances that crypto industry backers would spend lavishly to get him re-elected. He spoke at the major bitcoin event during his campaign, and JD Vance, the vice-president, is slated to speak at the conference this week.Earlier we reported that Donald Trump has threatened to withhold federal funding if California did not stop a transgender girl in high school from competing in state track and field finals, and said he would discuss it with governor Gavin Newsom.Reuters reports that in his social media post, Trump appeared to be referring to AB Hernandez, 16, who has qualified to compete in the long jump, high jump and triple jump championship run by the California Interscholastic Federation (CIF) at a high school in Clovis this weekend.The CIF is the governing body for California high school sports, and its bylaws state that all students “should have the opportunity to participate in CIF activities in a manner that is consistent with their gender identity”. California law prohibits discrimination, including at schools, based on gender identity.Trump referred in his social media post earlier today to California’s governor as a “Radical Left Democrat” and said: “THIS IS NOT FAIR, AND TOTALLY DEMEANING TO WOMEN AND GIRLS.” He said he was ordering local authorities not to allow the trans athlete to compete in the finals.Under the US and California constitutions, state and local officials and individuals are not subject to orders of the president, who can generally only issue orders to agencies and members of the federal government’s executive branch.Trump threatened that “large scale Federal Funding will be held back, maybe permanently,” if his demands are not met. Such a move would almost certainly lead to a legal challenge by California, which has already sued over multiple Trump administration actions it says are illegal or unconstitutional.Trump also referred to comments Newsom made on his podcast in March when the governor also said he believed competition involving transgender girls was “deeply unfair”.A spokesperson for Newsom declined to comment on Trump’s remarks, but referred to comments Newsom made in April when he said overturning California’s 12-year-old law allowing trans athletes to participate in sports was not a priority.“You’re talking about a very small number of people,” Newsom told reporters. Out of the 5.8 million students in California’s public school system, there are estimated to be fewer than 10 active trans student athletes, according to the governor’s office.A CIF spokesperson did not respond to Reuters’ questions, and Hernandez could not be immediately reached for comment.The United States has warned Americans against traveling to Venezuela, emphasizing a growing risk of wrongful detention in the country where there is no US embassy or consulate.“US citizens in Venezuela face a significant and growing risk of wrongful detention,” the State Department said in a statement. It has assigned Venezuela its highest travel alert – Level 4: Do Not Travel.It cites risks including torture in detention, terrorism, kidnapping, unfair law enforcement practices, violent crime, civil unrest and inadequate healthcare.Venezuela’s authoritarian president Nicolás Maduro tightened his grip on power yesterday as his ruling party yesterday celebrated its “overwhelming victory” in regional and parliamentary elections, which were boycotted by the majority of opposition parties – who called the elections a “farce”. Turnout was below 15%.Meanwhile last Monday, the US supreme court allowed the Trump administration to end Biden-era protections that had allowed some 350,000 Venezuelan immigrants to remain in the United States. The decision lifted a federal judge’s ruling that had paused the administration’s plans, meaning temporary protected status holders are now at risk of losing their protections and could face deportation. Joe Biden, had granted the status to Venezuelans due to political and economic strife in their home country.A federal judge has issued an order temporarily barring the US transportation department from withholding federal funding from New York as the Trump administration seeks to kill Manhattan’s congestion pricing program, according to NBC New York.US district judge Lewis Liman held the hearing one day before transportation secretary Sean Duffy has warned the government could begin withholding federal government approvals for New York projects.New York launched its first-in-the-nation program in January, charging most passenger vehicles a toll of $9 during peak periods to enter Manhattan south of 60th Street, in a bid to cut congestion and raise funds to improve mass transit.King Charles and Queen Camilla have now departed the National War Memorial in Ottawa, Canada and are on their way back to the airport.After Charles’s speech in the Senate, the pair attended a wreath laying ceremony at the National War Memorial.Donald Trump has “never evolved” and “isn’t close with anybody”, according to Mary Trump, the US president’s niece and a vocal critic of his business and political career.The daughter of Donald’s older brother, Fred Trump Jr (nicknamed Freddie), Mary Trump told the Hay festival in Wales – where she was discussing her latest book about the Trump family, Who Could Ever Love You – that she no longer has relationships with anyone in her family apart from her daughter.She described herself as “the black sheep of the family”, calling her grandfather, Fred Trump, Donald’s father, “literally a sociopath”, and adding: “Cruelty is a theme in my family.”She explained that much of her understanding of her uncle comes from when she was in her 20s and Donald hired her to ghostwrite his second book. She said:
      He is the only person I’ve ever met who’s never evolved, which is dangerous by the way … Never choose as your leader somebody who’s incapable of evolving – that should be one of the lessons we’ve learned, for sure. More

    • 163 Shares112 Views

      in US Politics

      Tourists from countries badly hit by Trump tariffs are staying away from US

      by

      Holidaymakers in countries hit the hardest by Donald Trump’s trade tariffs are taking the US off their list for trips abroad, according to online travel booking data.Findings from the hotel search site Trivago also suggest that UK and US travellers are increasingly choosing domestic holidays amid concerns over an uncertain economy.The company has seen double-digit percentage declines in bookings to the US from travellers based in Japan, Canada and Mexico. The latter two countries were the first on Trump’s tariff hitlist when he announced tariffs of 25% on 1 February.Canadians in particular were incensed at Trump’s repeated suggestions that its northern neighbour would be better off annexed as the 51st state of the US.According to Trivago’s findings, which were shared with PA Media, demand among Germans was also “down heavily”, with hotel bookings in the US showing a single-digit percentage decline.Germany is the largest economy in the EU, which Trump has repeatedly threatened with increased tariffs, most recently saying on Sunday he had “paused” a 50% tax he intended to introduce next month.There has not been a significant change in the numbers of UK holidaymakers travelling to the US. The UK has so far faced some of the lightest tariffs globally and last month struck a “breakthrough” trade deal with the US.Businesses operating in its $2.6tn tourism industry are becoming increasingly concerned about a “Trump slump” due to the turmoil the president’s tariff war is causing on the global economy.Last month, the federal government’s National Travel and Tourism Office released preliminary figures showing visits to the US from overseas fell by 11.6% in March compared with the same month last year.Bookings made via Expedia-owned Trivago also show that Americans are spending less on their trips, while there is higher demand for cheaper hotels and lower star categories.skip past newsletter promotionafter newsletter promotionTrump has levied tariffs on more than 180 countries, but has paused many of his tariffs for periods of up to 90 days while governments seek to negotiate deals.Recent booking data shows that in the UK there has been a 25% year-on-year leap in demand for domestic travel for the important months of July to September.“In times of uncertainty, people stay closer to home,” said Johannes Thomas, chief executive of Trivago.Trivago’s research has shown that London is the top destination for British tourists, followed by Edinburgh, where demand is up by nearly 30%, then York, Blackpool and Manchester. More

    • 250 Shares104 Views

      in US Politics

      Donald Trump announces he will pause threatened 50% tariffs on Europe after call with EU chief – US politics live

      by

      Donald Trump has warned that if Vladimir Putin attempts to conquer all of Ukraine, it will lead to the “downfall” of Russia, while also criticising Volodymyr Zelenskyy in a Sunday night post on Truth Social.“I’ve always had a very good relationship with Vladimir Putin of Russia, but something has happened to him. He has gone absolutely CRAZY!” Trump wrote in a social media post, adding, “I’ve always said that he wants ALL of Ukraine, not just a piece of it, and maybe that’s proving to be right, but if he does, it will lead to the downfall of Russia!”Earlier on Sunday the US president told reporters that was he was “very surprised” that his Russian counterpart had intensified the bombardment of Ukrainian cities despite the US president’s efforts to broker a ceasefire.Pressed by a reporter to say if he was now seriously considering “putting more sanctions on Russia”, Trump replied: “Absolutely. He’s killing a lot of people. What the hell happened to him?”In his post on Sunday night, Trump also criticised Zelenskyy, saying the Ukrainian president was “doing his Country no favors by talking the way he does.”“Everything out of his mouth causes problems, I don’t like it, and it better stop.”Hello and welcome to the US politics live blog. I’m Tom Ambrose and will be bringing you all the latest news lines throughout the day.Donald Trump has announced that he will pause his threatened 50% tariffs on the European Union until 9 July, after a “very nice call” with EU chief Ursula von der Leyen.The European Commission president announced in a social media post that she had spoken with Trump and secured the delay to give the two sides more time to negotiate.European assets rallied on Monday, Reuters reported. The euro hit its highest level against the dollar since 30 April, while European shares surged and were poised to recoup the previous session’s losses.“Europe is ready to advance talks swiftly and decisively,” von der Leyen wrote. “To reach a good deal, we would need the time until July 9.”Brussels and Washington have been locked in negotiations in a bid to avert an all-out transatlantic trade war, after Trump’s tariff threat on Friday dramatically raised the stakes.Trump warned he would impose 50% tariffs on all of the bloc’s imports into the US, saying “discussions with them are going nowhere”, adding that the tariffs would be applied from 1 June. Trump claimed he was “not looking for a deal”, repeating his longstanding view that European states had “banded together to take advantage of us”.For the full story, see here:In other news:

      President Donald Trump said Vladimir Putin had “gone absolutely CRAZY” by unleashing the largest aerial attack of the war on Ukraine and said he was weighing new sanctions on Moscow, though he also scolded Ukrainian president Volodymyr Zelenskyy. Trump posted the remark on Truth Social as sleeping Ukrainians woke to a third consecutive night of Russian aerial attacks, listening for hours to drones buzzing near their homes and eruptions of Ukrainian anti-aircraft fire.

      The United States demanded that South Korea resolve the large trade imbalance between the countries during recent trade talks, South Korean media reported on Monday. The US repeatedly raised the issue of the trade imbalance in the commodity sector and both countries agreed it was necessary to address it, broadcaster YTN and the Yonhap news agency reported, citing an unnamed South Korean trade official who was part of the trade delegation.

      Trump said on Sunday his tariff policy was aimed at promoting the domestic manufacturing of tanks and technology products, not sneakers and T-shirts. Speaking to reporters before boarding Air Force One in New Jersey, Trump said he agreed with comments from Treasury Secretary Scott Bessent on 29 April that the US does not necessarily need a “booming textile industry” – comments that drew criticism from the National Council of Textile Organizations. “We’re not looking to make sneakers and T-shirts. We want to make military equipment. We want to make big things. We want to do the AI thing with computers,” Trump said.

      Malaysian prime minister Anwar Ibrahim said on Monday he has written to US president Donald Trump to organise a meeting between the United States and the Asean regional bloc. Malaysia is chair of the Association of Southeast Asian Nations grouping this year.

      Hong Kong’s education bureau has called on the city’s universities to “attract top talent” by opening their doors to those affected by the Trump administration’s attempt to ban Harvard from enrolling international students. Last week the Trump administration revoked Harvard’s Student and Exchange Visitor Program certification, effectively banning the university from accepting foreign students.

      Federal judges are discussing a proposal that would shift the armed security personnel responsible for their safety away from the Department of Justice and under their own control, as fears mount that the Trump administration is failing to protect them from a rising tide of hostility. The idea of creating their own armed security detail emerged at a meeting of about 50 federal judges two months ago, according to a Wall Street Journal report.

      Trump has been warned by fiscal hawks within his own party in the US senate that he must “get serious” about cutting government spending and reducing the national debt, or else they will block the passage of his signature tax-cutting legislation known as the “big, beautiful bill”. More

    • 188 Shares122 Views

      in US Politics

      Trump says he is hitting EU with 50% tariff as trade talks are ‘going nowhere’

      by

      Donald Trump has said he will impose a 50% tariff on all EU imports to the US from 1 June after claiming trade talks between the two trading blocs were “going nowhere”.In a surprise announcement, the US president posted on his Truth Social platform that his long-running battle to secure concessions from the EU had stalled.He accused the EU of taking advantage of the US on trade, saying: “Our discussions with them are going nowhere! Therefore I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025.”Speaking to reporters in the Oval Office, Trump claimed the EU had “taken advantage” of the US and claimed the new tariffs would be imposed unless EU companies moved their operations to the US.“It’s time that we play the game the way I know how to play the game,” said Trump.Stock markets slumped in response to the news, the tech-heavy Nasdaq closed down 1% as Trump also signalled plans to impose tariffs on Apple, Samsung and other phone manufacturers. The broader S&P 500 lost 0.68%. The STOXX Europe 600 index fell by 1.7%. In London the FTSE 100 closed down 0.2% after initially dropping as much as 1.5%. Germany’s car makers were particularly hard hit, with BMW down 3.7%, Volkswagen off 2.6% and Mercedes-Benz down 4%.The US imposed a 20% “reciprocal” rate on most EU goods on 2 April, but halved that rate a week later until 8 July to allow time for talks. It has retained 25% import taxes on steel, aluminium and vehicle parts and is threatening similar action on pharmaceuticals, semiconductors and other goods.skip past newsletter promotionafter newsletter promotion“This is a major escalation of trade tensions,” said Holger Schmieding, the chief economist at Berenberg, on Friday. “With Trump you never know but this would be a major escalation. The EU would have to react and it is something that would really hurt the US and European economy.”EU negotiators have been locked in meetings with White House representatives since Trump’s so-called “liberation day” tariffs were first announced. Dozens of countries have been holding discussions to try to bring down their own levies before the 90-day pause elapses.The White House has relented on many of its most onerous tariffs, including lowering total tariffs on Chinese goods from 145% to 30% after what Trump declared were constructive talks with Beijing, which lowered its retaliatory border taxes from 125% to 10% in response.A week ago the US president appeared to acknowledge that Washington lacked the ability to negotiate deals with scores of countries at once, saying the US would instead send letters to some trading partners to unilaterally impose new tariff rates.Perceptions of an easing back on a hardline approach to trade brought a period of calm to stock markets, but Friday’s threat of a 50% levy on EU goods, plus a separate threat made the same day of 25% tariffs on iPhones made abroad, have brought an end to the peace.The EU presented a fresh trade proposal to the US on Thursday. The offer included phased tariff cuts on non-sensitive goods, plus cooperation on energy, AI and digital infrastructure. The bloc was readying about $108bn in retaliatory tariffs if talks failed.To sweeten the deal, EU officials were also willing to extend a 2020 tariff-free arrangement on US lobster imports, according to the Financial Times. But it appears to have proved insufficient to persuade the US president to sign a deal allowing only his 10% universal tariff to apply to the EU, as it does the UK. More

    • 163 Shares156 Views

      in US Politics

      This pause in the trade war will be brief. Small businesses, plan accordingly

      by

      Donald Trump’s massive Chinese tariffs are on pause. The media debated. Wall Street rejoiced. Many of my clients breathed a sigh of relief. Big retailers jumped for joy. But for how long?For starters, the tariffs that weren’t paused – a 10% levy on all Chinese goods, plus a bonus 20% tax that somehow relates to fentanyl, are still in place. When you take into consideration existing tariffs on steel from previous Trump and Biden administrations, the effective tariff rate on Chinese goods is actually closer to 40%, according to an analysis done by the Wall Street Journal.That’s a big number. Maybe that won’t deter people from buying underwear at Target. But for companies that rely on steel and aluminum, semiconductors, synthetic fabrics, plastics, minerals, coatings and solvents as well as certain bearings, motors, pumps and parts, a 30-40% hike is a major impact on their margins, which will affect their spending and investments. Ultimately, the costs of the end products that use these materials will also rise as companies simply pass them down.Just as important, Trump’s animosity towards China – unfounded or not – isn’t going to just magically disappear. He’s called the Chinese cheaters, polluters and thieves. And his past actions – particularly in his first administration – do not bode well for a quick resolution to this issue.In 2018, the Trump administration not only imposed onerous tariffs on China but also issued some very harsh requirements to address trading issues with its closest economic rival.There were specific quotas set to limit our trade deficit. There were demands made to reduce the Chinese requirement forcing American companies to share or transfer technology with their Chinese counterparts. There were rules aimed at stopping the alleged (ha, ha) stealing of data and intellectual property by the Chinese.The problem is that none of this happened. What happened – shortly after the negotiations started – was Covid. And then 2020 and a new administration. But don’t think that Trump won’t raise these issues again. He will, and when this happens we’ll be back to the same place we started: excessive tariffs and a trade war with China.That doesn’t mean that businesses are completely stuck. Many – those that have the funds – are using the tariff suspension to buy up products from China like it’s a fire sale at Costco on Black Friday. Others are contracting with bonded warehouses and storage facilities in free-trade zones to accept products that are temporarily tariff-free, hoping that when they pull materials from these storage units those rates will have come down.I have clients who are aggressively searching for alternative suppliers. I have others who are bringing their assembly and manufacturing back to the US. Those that aren’t able to make these kinds of investments are trying to work out how and how much they can change pricing and what the market will take. A few have already created special line items on their invoices to separate out the tariff charge in an effort to say: “Hey, don’t blame me for this stuff!”My smartest clients started doing this stuff the day after Trump was elected. They listened to what he’d said during the previous couple of years. They read the writing on the wall. Now they’re ahead of the game. Good for them.Companies that didn’t do this – especially small businesses that have fewer resources and are more reliant on just a supplier or two – are in trouble, particularly if they buy from China. For any business still reliant on Chinese suppliers and markets, this pause isn’t going to last as long as you think. There will be a lot more coming in this trade war – and let’s hope it doesn’t turn into an actual war. The outlook is precarious and risky. Trump is volatile and emotional and has a history of knocking China. Plan accordingly. More

    • 138 Shares159 Views

      in US Politics

      Gone in 40 days: how Trump’s ‘liberation day’ tariff assault unraveled

      by

      Donald Trump hailed a new chapter in the US’s economic history on 2 April, dubbed “liberation day” by his administration, as he announced plans for an extraordinary barrage of US tariffs on the world. The chapter lasted 40 days.The page has already been turned. But the impact of those six chaotic weeks, from higher prices to slowing growth, is still unfolding – and the US president is already threatening further adjustments. The story continues.Trump had been steered away from his aggressive instincts on trade during his first term, and persuaded to walk back several tariff threats in the opening months of his second. But back in early April, he was determined to plough ahead.“April 2nd, 2025, will forever be remembered as the day American industry was reborn, the day America’s destiny was reclaimed, and the day that we began to make America wealthy again,” Trump declared at an event in the White House Rose Garden, before an audience of his top officials and supporters.The measures were blunt and severe: a blanket 10% tariff on all imported goods, and higher individualized rates, of up to 50%, on dozens of markets – those of economic allies and rivals alike – deemed to have treated the US poorly on trade.‘Be cool’First came the questions. How exactly did the Trump administration come up with such an array of specific duties to impose upon goods from so many countries and territories? And why was a group of barren, uninhabited islands near Antarctica among them?Then came the panic. Global stock markets tanked, with Wall Street enduring its steepest falls since the onset of the Covid-19 pandemic five years ago, as the president repeatedly insisted he was serious this time.Trump’s officials were sent out to hold the line. “The announcement today is the most significant action on global trade policy that has taken place in our lifetimes,” said Stephen Miller, his deputy chief of staff for policy. “We’re just going to have to wait and see” what happens, the treasury secretary, Scott Bessent, told Bloomberg. One thing’s for sure, the commerce secretary, Howard Lutnick, told CNN: “The president is not going to back off.”On day five of the new chapter, the 10% baseline tariffs came into force. On day seven, the higher, individualized rates followed. Beijing vowed to retaliate. Business leaders, including some who had backed Trump’s run for the White House, urged him to reconsider.A sell-off in treasury bonds, typically deemed a safe haven during periods of economic volatility, took hold. “BE COOL! Everything is going to work out well,” Trump wrote on Truth Social, adding a few minutes later: “THIS IS A GREAT TIME TO BUY!!! DJT”This advice seemed prescient four hours later. Seven days into the new chapter, with his individualized tariffs imposed for all of 13 hours, Trump announced a 90-day pause – in effect reducing the universal duty on all US imports from almost all countries to 10% – and markets surged higher.Almost all countries, that is, except China. Beijing’s pledge to hit back infuriated the president, who blamed its “lack of respect” as he announced a new US tariff of 125% (in effect, once other duties were included, 145%) on Chinese goods. It retaliated in kind.Getting yippyThe same officials who had been dispatched to defend Trump’s initial plan were sent out again, to explain his latest climbdown.“You have been watching the greatest economic master strategy from an American President in history,” Miller claimed on X.“Many of you in the media clearly missed The Art of the Deal,” the press secretary, Karoline Leavitt, scolded reporters, referring to the president’s 1987 bestseller, in which the real estate tycoon presented himself as a consummate dealmaker.While his aides claimed that more than 75 countries had been in touch following his initial tariff announcement, even the president struggled to present the reversal as part of a carefully orchestrated negotiating strategy. Asked what had prompted it, Trump told reporters people had been “getting a little bit yippy” about his plan.But some of the US’s largest companies were still feeling pretty yippy. Apple, for example, relies on factories in China to churn out the iPhone, which is responsible for almost half its business.Late on day 10, away from the noisy press gaggles and all-caps social media posts, US Customs and Border Protection posted a list of products that would be exempt from the Chinese tariffs – including smartphones, computers and semiconductor chips.While the administration had walked back much of Trump’s initial plan, concern lingered over what remained. Trump maintained that high tariffs were the way forward, but fears of widespread shortages and dramatic price increases loomed large. Polling made clear consumers were increasingly concerned.On day 28, at the end of a cabinet meeting, the president tried to play down the risks of his assault on China. “Well, maybe the children will have two dolls instead of 30 dolls, you know,” he said. “And maybe the two dolls will cost a couple of bucks more than they would normally.”Blame gameEarlier that morning, dismal economic figures for the first quarter had underlined how – as the last chapter drew to a close – the mere threat of Trump’s economic assault appeared to dent growth. US gross domestic product (GDP) shrank for the first time in three years, abruptly turning negative after a spell of robust growth as imports surged 41% while companies scrambled to pre-empt tariffs.Trump raced to pin the blame on his predecessor. “I think the good parts are the Trump economy and the bad parts are the Biden economy,” he told NBC’s Meet the Press.Many economists said the growth decline in the first quarter, as firms braced for Trump’s new chapter, raised troubling questions about the second, when the president finally launched it at his “liberation day” event.Aside from dolls, the administration started to indicate it might be willing to adjust tariffs on China that were hitting goods – like baby car seats and cribs – that the US almost entirely imports from the country. Such exemptions were “under consideration”, Bessent told Congress, potentially averting a spike in prices for young families.But as the weeks drew on, after promising his trade strategy would prompt countries around the world to trip over themselves to strike deals with the US, Trump was finding it harder to explain why none had materialized.On day 34, as questions mounted, he complained the media had become fixated. “You keep writing about deals, deals,” he said, adding that he wished journalists would stop asking. “Some deals” would be signed, the president said, but tariffs were a “much bigger” focus.On day 36, the first deal was declared done. Trump summoned back reporters to unveil what he called a “maxed-out deal that we’re going to make bigger” with the UK. In reality, there was still work to do: both he and Keir Starmer, the British prime minister, conceded certain details had yet to be finalized.By the next morning, Trump’s focus had returned to China. Bessent was preparing for talks with the country’s officials in Geneva, fueling hopes that the world’s two largest economies might lower their eye-watering tariffs. “80% Tariff on China seems right! Up to Scott B,” the president wrote on social media.‘This is going to crush us’Trump was also watching the liberal MSNBC network, where the business commentator Stephanie Ruhle argued his strategy on tariffs was not working. “You’re seeing day in, day out, more business leaders – whether it’s Warren Buffett, or Jamie Dimon, or Ken Griffin, on big global stages – saying this is going to crush us economically,” she said. “And then you’ve got congressmen, senators, from every state saying to this White House: our small businesses are … dying here.“I’m not saying Donald Trump has changed what he thinks in his heart. But he’s backed into a corner, and he needs to get off this crazy tariff train, and he knows it.”Trump punched back. “Few people know Stephanie Ruhle, but I do, and she doesn’t have what it takes,” he wrote on Truth Social, accusing her of lies. “We’re going to make a fortune with Tariffs, only smart people understand that, and Stephanie was never known as a ‘High IQ’ person.”If only smart people understood the US stood to make a fortune from tariffs, they might have been surprised by what happened next.Away from TV studios, some of the most senior people in the White House, including the chief of staff, Susie Wiles, reportedly started to warn the president of risks not unlike those laid out by Ruhle. “The key argument was that this was beginning to hurt Trump’s supporters – Trump’s people,” one person briefed on internal conversations told the Washington Post. “It gave Susie a key window.”On day 40, after discussions in Geneva, Bessent confirmed that US and Chinese officials would drastically reduce the tariffs they had aggressively ratcheted up just a few weeks before. With US tariffs on Chinese goods falling to 30%, Trump hailed a “total reset” in relations between Washington and Beijing.The reversal, although far from a total reset, confined the latest “liberation day” measure to history.2 April 2025, is not yet remembered as the day American industry was reborn. Much of what was announced that afternoon has already died.The page has been turned. On Friday, Trump claimed about 150 countries would soon receive letters “essentially telling” them of new US duty rates on their exports. Many learned of similar rates last month, only for the plan to change in a matter of days.A new chapter, without pomp or ceremony, is now under way. What this one will entail – or how long it lasts – is anyone’s guess. More

    • 163 Shares99 Views

      in US Politics

      China and US agree 90-day pause to trade war initiated by Donald Trump

      by

      China and the US have agreed a 90-day pause to the deepening trade war that has threatened to upend the global economy, with reciprocal tariffs to be lowered by 115%.Speaking to the media after talks in Geneva, the US treasury secretary, Scott Bessent, said both sides had shown “great respect” in the negotiations.Bessent said: “The consensus from both delegations this weekend was neither side wants a decoupling.”The 90-day lowering of tariffs applies to the duties announced by Donald Trump on 2 April, which ultimately escalated to 125% on Chinese imports, with Beijing responding with equivalent measures.China also imposed non-tariff measures, such as restricting the export of critical minerals that are essential to US manufacturing of hi-tech goods.The US trade representative, Jamieson Greer, said China’s retaliation had been disproportionate and amounted to an effective embargo on trade between the world’s two biggest economies.With the 115% deduction, Chinese duties on US goods will be lowered to 10%, while the US tax on Chinese goods will be lowered to 30%. That is because the US tariffs include a 20% rate imposed by Trump before the latest trade war, which the president said was related to China’s role in the US’s fentanyl crisis. The fentanyl-related tariff will still apply.A spokesperson for China’s ministry of commerce said: “This move meets the expectations of producers and consumers in both countries, as well as the interests of both nations and the common interest of the world.“We hope that the US side will, based on this meeting, continue to move forward in the same direction with China, completely correct the erroneous practice of unilateral tariff hikes, and continually strengthen mutually beneficial cooperation.”China’s yuan jumped to a six-month high on the signal that the trade war would be paused. Up to 16m jobs were at risk in China, according to some estimates, while the US faced rising inflation and empty shelves thanks to dizzying tariffs on the biggest supplier of US goods.Bessent said he was impressed by the level of Chinese engagement on the fentanyl issue during the talks in Switzerland. “For the first time the Chinese side understood the magnitude of what is happening in the US,” Bessent said.A joint statement published by the US and China on Monday said that both sides would “continue to advance related work in a spirit of mutual openness, continuous communication, cooperation and mutual respect”.William Xin, the chair of the hedge fund Spring Mountain Pu Jiang Investment Management, told Reuters: “The result far exceeds market expectations. Previously, the hope was just that the two sides can sit down to talk, and the market had been very fragile. Now, there’s more certainty. Both China stocks and the yuan will be in an upswing for a while.”skip past newsletter promotionafter newsletter promotionHu Xijin, the former editor of the nationalist Chinese tabloid the Global Times, said on social media the agreement was a “great victory for China in upholding the principles of equality and mutual respect”. Hu noted on Weibo that the recently agreed UK-US trade deal maintained the US’s 10% tariff on UK imports, “while the UK did not implement reciprocal measures”.Wang Wen, the head of the Chongyang Institute for Financial Studies at Renmin University in Beijing, said: “This is an unexpected achievement in Sino-US tariff negotiations.”However, Wang also urged caution, as he said the agreement “does not represent the resolution of the structural contradictions between China and the United States, nor does it mean that there will be no friction and serious differences between China and the United States in the future”.Stock markets across Europe rose in the aftermath of the US-China announcement. Germany’s DAX index jumped by 1.5%, with Mercedes-Benz, Daimler Trucks and BMW among the biggest risers. France’s CAC index rose by 1.2%.Additional research by Lillian Yang More