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TikTok ban deadline looms in US amid last-minute takeover bids
Once again, the future of TikTok in the US is at stake. After a years-long tussle over whether or not to ban the app in the country, the deadline for the company to divest or sell its assets to a non-Chinese owner is up again on 5 April.A handful of potential buyers have said they’re interested in the tremendously popular social media app and various news reports have floated other types of deals, including an investment from the Donald Trump-friendly venture capital firm Andreessen Horowitz or a bid from Amazon. Trump signed an executive order in January to postpone a ban-or-divest deadline until April; earlier this week he said he would “like to see TikTok remain alive”. But the path forward for TikTok, and its 170 million US users, remains murky.ByteDance, the Chinese company that owns TikTok, has said it has no plans to sell the app and in court filings said that divestiture “is simply not possible: not commercially, not technologically, not legally”. ByteDance and TikTok did not return requests for comment.The idea of banning TikTok originated with Trump in 2020, who said the Chinese-owned app posed a danger to national security. It quickly became a bipartisan issue and Congress overwhelmingly voted to ban the app last year. In January, the US supreme court sided with Congress and unanimously upheld a federal law requiring TikTok divest or be banned. The deadline was initially set for 19 January.The night before the deadline, TikTok shuttered the app with a message that read: “Sorry, TikTok isn’t available right now.” Apple and Google also removed it from their app stores, because under the federal law they would be penalized for distributing it. In its message, the social media company said: “We are fortunate that President Trump has indicated that he will work with us on a solution to reinstate TikTok once he takes office. Please stay tuned!”On 20 January, Trump’s first day in office, he issued the executive order that extended the ban-or-divest deadline by 75 days. Now that cutoff date is looming.While initially proposing to ban TikTok, Trump made an about-face last year while campaigning for president, having joined the app and amassed millions of followers. In September, he posted to his Truth Social account “FOR ALL THOSE THAT WANT TO SAVE TIK TOK IN AMERICA, VOTE TRUMP!” Since then, he’s been working to make good on that pledge.On Tuesday, CBS reported that Trump has been considering final proposals for TikTok. Those include plans from a long list of investors in the private equity, venture capital and tech industries. Among those investors are asset manager Blackstone, business software company Oracle, e-commerce giant Amazon, a crypto foundation and the founder of OnlyFans. Oracle is reportedly leading a coalition bid with several investors, including Andreessen Horowitz, according to the FT.skip past newsletter promotionafter newsletter promotionOracle, which was co-founded by Trump ally Larry Ellison, has been looking to buy a lucrative stake in TikTok for years. The software company already houses all of TikTok’s US user data on its cloud infrastructure platform, a deal that came about in 2022 to address security concerns.“It is highly unlikely that TikTok will go dark again. All signs point to a deal or another extension,” said Kelsey Chickering, a principal analyst for Forrester. “If TikTok divests in the US, the real question is whether its algorithm comes with the sale. TikTok without its algorithm is like Harry Potter without his wand – it’s simply not as powerful.” More
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Trump’s ‘Liberation Day’ and Musk’s bad week – podcast
This week Donald Trump announced a blanket 10% tariff on all goods imported into the US from Saturday, and higher ‘reciprocal’ tariffs on countries taxing US exports from next Wednesday.Meanwhile, the Trump administration was forced to deny that Elon Musk would be leaving his role as a special government employee soon. The reports came a day after a Democrat defeated a Musk-backed Republican for a seat on the Wisconsin supreme court.Archive: ABC News, NBC News, CBS News, WFRC Local, WHAS11, 6abc PhiladelphiaBuy a ticket to The Guardian’s special event, looking at 100 days of Trump’s presidency, with Jonathan Freedland More
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Trump reportedly threatening to freeze $510m in grants from Brown University
The Trump administration is taking aim at Brown University with threats to freeze $510m in grants, widening its promise to withhold federal funding from schools it accuses of allowing antisemitism on campus, according to multiple media outlets including Reuters and the New York Times.University officials said they had not yet been formally notified, but the school was among dozens warned last month that enforcement actions could be coming as the administration seeks to crack down on academic institutions .As at many universities across the US, students at the Rhode Island Ivy League school protested Israel’s attacks against Palestinians last autumn, raising a cluster of tents on the grassy quad at the heart of campus. But, unlike at many of its sister schools, Brown administrators chose to negotiate rather than clear the demonstrations forcefully.Trump has called the protesters antisemitic, labeling them sympathetic to Hamas militants and foreign policy threats, and has threatened to slash federal funds universities depend on to fuel important research.In an email to campus leaders on Thursday shared by a Brown University spokesperson, the school’s provost, Frank Doyle, said the university was aware of “troubling rumors emerging about federal action on Brown research grants” but added it had “no information to substantiate any of these rumors”.“We are closely monitoring notifications related to grants, but have nothing more we can share as of now,” he added.But Brown’s leaders have been bracing for backlash from the president for weeks. In a letter shared publicly on the university’s site, the president, Christina H Paxson, promised that Brown would not buckle under pressure.“The nation has witnessed what many in higher education fear may be only the first examples of unprecedented government demands placed on a private university as a condition for restoring federal funding,” she said.Paxson outlined three core values and the school’s response to protect them: following the law, defending academic freedom and freedom of expression, and a commitment to providing resources to international community members.“If Brown faced such actions directly impacting our ability to perform essential academic and operational functions,” she said, “we would be compelled to vigorously exercise our legal rights to defend these freedoms, and true to our values, we would do so with integrity and respect.”Last month, the Trump administration canceled $400m in federal funding for Columbia University, which had been the epicenter of pro-Palestinian campus protests. Princeton University said on Tuesday the US government froze several dozen research grants to the school, and $9bn in federal contracts and grants awarded to Harvard University is under review.Along with the funding freeze, there are concerns about other actions being taken by the administration to undermine academic freedoms or civil rights on campus.The administration has targeted schools over diversity, equity and inclusion programs and suspended $175m in funding to the University of Pennsylvania over transgender sports policies.Immigration and Customs Enforcement agents have detained some foreign student protesters in recent weeks and are working to deport them.Rights advocates have also raised concerns about Islamophobia and anti-Arab bias during the Israel-Gaza war. The Trump administration has not announced steps in response.“These are uncertain times,” Paxson said in the letter. “We remain committed to taking the steps necessary to preserve our ability to fulfill our mission as a university dedicated to advancing knowledge and understanding in service to communities, the nation and the world.”Reuters contributed reporting More
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Democratic attorneys general sue Trump over ‘illegal’ voting order
A coalition of 19 Democratic attorneys general filed a lawsuit against the Trump administration on Thursday, arguing that a recent executive order signed by the president that seeks to overhaul the nation’s elections was “unconstitutional, anti-democratic, and un-American”.The lawsuit, filed in federal court in Massachusetts, challenges several provisions of the far-reaching executive order issued last week, including the proof-of-citizenship requirements for voter registration and new rules requiring all mail ballots be received by election day.The attorneys general accuse the president of overstepping his authority and allege that the order “usurps the states’ constitutional power and seeks to amend election law by fiat”.Among the defendants named in the lawsuit are Trump, the attorney general Pam Bondi and the United States Election Assistance Commission, an independent agency charged with helping to improve election administration and ensuring voting accessibility and security.The state attorneys general say they are asking a judge to declare the provisions “unconstitutional and void”.“The president’s executive order has no legal justification and far exceeds the scope of his constitutional authority,” the California attorney general Rob Bonta, a Democrat, said during a press conference on Thursday afternoon.“Let me be clear: Trump is acting like he’s above the law. He isn’t. He’s violating the US constitution. He can’t, which is why we’re taking action.”The White House did not immediately respond to a request for comment.In the lawsuit, the attorneys general repeatedly cite the elections clause of the constitution, which says that states set the “times, places and manner” of elections. The clause allows Congress to pass federal voting laws, which House Republicans are racing to do, but “nowhere does the constitution provide the president, or the executive branch, with any independent power to modify the states’ procedures for conducting federal elections”, the attorneys general assert in the complaint.California was joined by the Democratic attorneys general of Arizona, Colorado, Connecticut, Delaware, Hawaii, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New Mexico, New York, Rhode Island, Vermont and Wisconsin.Aaron Ford, the Democratic attorney general of Nevada, said Trump’s executive order was not only unconstitutional but “unnecessary”. He said that all US states had a “vested interest” in ensuring a fair election process.“To insinuate otherwise and to seek to impose restrictions based on these insinuations, is political gamesmanship. Frankly, it’s illegal political gamesmanship,” Ford said during the press conference with Bonta.“Blackmailing states with the removal of election security funding unless we comply with the order is a far more damaging and harmful threat than any perceived dangers the president is peddling falsehoods over.”Trump’s elections order, described by White House staff secretary Will Scharf as “the farthest-reaching executive action taken” in the nation’s history, also faces legal challenges brought by the Democratic National Committee, the Democratic Governors Association, and Senate and House Democratic leaders, as well as a separate lawsuit filed by two nonprofit organizations, the Campaign Legal Center and the State Democracy Defenders Fund.These lawsuits were filed in the US district court for the District of Columbia.Trump, a prolific spreader of election falsehoods who sought to overturn his 2020 defeat on the baseless claim of a stolen election, has said the order is necessary to protect US elections against illegal non-citizen voting. Instances of noncitizens casting ballots in federal elections – a felony crime – are exceedingly rare. Yet Trump and Republicans have continued to amplify the myth.Trump’s order stated that the US had failed “to enforce basic and necessary election protection”, despite reports by elections officials that the recent elections have been among the most secure in US history.“The president seemingly had no qualms with the result of the last election and happily took office for a second term,” Bonta said. “That’s because our elections are secure.” More
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Trump news at a glance: Tariffs send US markets tumbling to worst day since Covid crash
Global financial markets were roiled by Donald Trump’s latest tariff announcement – with trillions of dollars knocked off the value of the world’s biggest companies and heightened fears of a US recession.In the US, the main indices saw their worst one-day falls in five years as the president claimed that “the markets are going to boom” in response to his sweeping tariffs.The scale of the sell-off highlights just how alarmed investors are by the tariffs, and the fears they could lead to a recession.Here are the key stories at a glance:Trump insists ‘it’s going very well’ as markets crashDespite the worst markets crash in nearly five years, Trump denied the turmoil presented a problem, telling reporters: “I think it’s going very well … We’ve never seen anything like it. The markets are going to boom. The stock is going to boom. The country is going to boom.”As world leaders reacted to the US president’s “liberation day” tariff policies demolishing the international trading order, about $2.5tn (£1.9tn) was wiped off Wall Street and share prices in other financial centres across the globe.Read the full storyUS markets see worst day since 2020Zooming in on US stock market, all three major US funds closed down in their worst day since June 2020, during the Covid pandemic. The tech-heavy Nasdaq fell 6%, while the S&P 500 and the Dow dropped 4.8% and 3.9%, respectively. Apple and Nvidia, two of the US’s largest companies by market value, had lost a combined $470bn in value by midday.Read the full storyRepublican Senate rebels decry tariffs as ‘bad policy’The first signs of an internal US political backlash against Donald Trump’s declaration of a global trade war are starting to emerge amid tanking stock markets worldwide, including on Wall Street, and widespread international criticism of the move.Read the full storyPete Hegseth faces Signal investigationThe Pentagon watchdog is launching an investigation into US defence secretary Pete Hegseth’s use of the encrypted messaging app Signal to discuss sensitive information about military operations in Yemen.The probe follows a bipartisan request from the Senate armed services committee after allegations emerged that highly precise – and most likely classified – intelligence about impending US airstrikes in Yemen, including strike timing and aircraft models, had been shared in a Signal group chat that included a journalist.Read the full storyTrump fires staffers after Laura Loomer urges him toDonald Trump fired six national security council staffers after an unusual meeting in the Oval Office where the far-right activist Laura Loomer presented opposition research against a number of staffers that she said showed they were disloyal to the US president, according to two people familiar with the matter.Read the full storyDr Oz confirmed for Medicare and Medicaid role amid cuts plansFormer heart surgeon and TV pitchman Dr Mehmet Oz was confirmed to lead the Centers for Medicare and Medicaid Services. Oz became the agency’s administrator in a party-line 53-45 vote.The 64-year-old will manage health insurance programs for roughly half the country, with oversight of Medicare, Medicaid and Affordable Care Act coverage. He steps into the new role as Congress is debating cuts to the Medicaid program, which provides coverage to millions of poor and disabled Americans.Read the full storyEnglish judge orders Trump to pay more than $800,000 in legal costsDonald Trump has been ordered by a judge in England to pay more than £620,000 ($820,000) in legal costs after unsuccessfully suing a company over denied allegations he took part in “perverted” sex acts.The US president brought a data protection claim against Orbis Business Intelligence, a consultancy founded by a former MI6 officer, Christopher Steele, in 2022.Steele authored a report that included allegations – all denied by Trump – that he had been “compromised” by the Russian Security Service. Mrs Justice Steyn threw out the claim in February last year and told Trump to pay an initial £290,000 in costs. Trump decided not to pay and was now ordered to pay £626,058.98.Read the full storySenators try to claw back power over tariffs Senior senators introduced new bipartisan legislation on Thursday seeking to claw back some of Congress’s power over tariffs after Donald Trump unveiled sweeping new import taxes that rattled the global economy.Read the full storyWhat else happened today:
Canada will retaliate against Trump’s “unjustified, unwarranted” tariffs with a 25% tax on US vehicles, said prime minister Mark Carney. The taxes will target vehicles that are not compliant with the continental free trade deal.
The method used to calculate the most important numbers in international trade, politics and economics has left some of the world’s leading experts shocked. Here’s how they were calculated.
JD Vance said that Elon Musk would remain a “friend and an adviser” to the vice-president and Donald Trump after he leaves his current role with the so-called “department of government efficiency”.
Catching up? Here’s what happened on 2 April 2025. More - in US Politics
Global markets in turmoil as Trump tariffs wipe $2.5tn off Wall Street
Global financial markets have been plunged into turmoil as Donald Trump’s escalating trade war knocked trillions of dollars off the value of the world’s biggest companies and heightened fears of a US recession.As world leaders reacted to the US president’s “liberation day” tariff policies demolishing the international trading order, about $2.5tn (£1.9tn) was wiped off Wall Street and share prices in other financial centres across the globe.Experts said Trump’s sweeping border taxes of between 10% and 50% on the US’s traditional allies and enemies alike had dramatically added to the risk of a steep global downturn and a recession in the world’s biggest economy.World leaders from Brussels to Beijing rounded on Trump. China condemned “unilateral bullying” practices and the EU said it was drawing up countermeasures.While Trump timed his Wednesday evening Rose Garden address to avoid live tickers of crashing stock markets, that fate arrived when Asian exchanges opened hours later.Drawing comparisons with the market crashes at the height of the coronavirus pandemic and the 2008 financial collapse, the sell-off swept the globe, sending exchanges plunging in Asia and Europe. The UK’s FTSE 100 index of blue-chip companies closed the day down 133 points, or 1.5%, to 8,474 after suffering its worst day since August.All three main US stock markets were down at the end of trading in their worst day since June 2020, during the Covid pandemic. The tech-heavy Nasdaq fell 5.97%, while the S&P 500 and the Dow dropped 4.8% and 3.9%, respectively. Apple and Nvidia, two of the US’s largest companies by market value, lost a combined $470bn in value by midday.Libby Cantrill, the head of US public policy at Pimco, one of the world’s largest bond fund managers, said investors were growing increasingly concerned as Trump appeared to be unwilling to soften his stance in the face of market turmoil, although hope remained that he would ultimately strike deals with US trading partners.“There is likely a limit to how much pain he and his administration are willing to endure in order to rebalance the economy, but when that is or what that looks like remains to be seen,” she said.“For now, we should assume that his pain tolerance is pretty high and that tariffs stick around for a while.”The US dollar hit a six-month low, falling 2.2% on Thursday morning, amid a growing loss of confidence in a currency previously considered the safest in the world for most of the past century.Warning clients to beware a “dollar confidence crisis”, George Saravelos, the head of foreign exchange research at Deutsche Bank, said: “The safe-haven properties of the dollar are being eroded.”The heaviest falls in share prices on Thursday were reserved for US companies with complex international supply chains stretching into the countries that Trump is targeting with billions of dollars in fresh border taxes.Apple, which makes most of its iPhones, tablets and other devices for the US market in China, was down 9.5% at close of trading, and there were steep declines for other large multinationals including Microsoft, Nvidia, Dell and HP.Commodities fell sharply, including a 7% plunge in oil prices, reflecting growing concerns over the global economic outlook.Speaking to reporters on Thursday, Trump said: “I think it’s going very well. It was an operation like when a patient gets operated on and it’s a big thing. I said this would be exactly the way it is … We’ve never seen anything like it. The markets are going to boom. The stock is going to boom. The country is going to boom.”Trump later said: “Every country is calling us. That’s the beauty of what we do. If we would have asked these countries to do us a favour they would have said no. Now they will do anything for us.”skip past newsletter promotionafter newsletter promotionOver the last nearly 24 hours, Trump has faced widespread backlash from US lawmakers and global leaders over his tariffs plan, with the senior Republican senator Mitch McConnell calling it “bad policy” while Canada – a traditional American ally – called the tariffs “unjustified” and “unwanted”.Tariffs will fall heavily on some of the world’s poorest countries, with nations in south-east Asia, including Myanmar, among the most affected.Cambodia, where about one in five of the population live below the poverty line, was the worst-hit country in the region with a tariff rate of 49%. Vietnam faces 46% tariffs and Myanmar, reeling from a devastating earthquake and years of civil war after a 2021 military coup, was hit with 44%.Analysts warned that garment and sports shoe makers, which rely heavily on production in south-east Asia, face rising costs, which will push up prices for consumers around the globe. The share prices of Nike, Adidas and Puma all fell steeply.Analysts said Trump’s measures would raise the average tariff, or border tax, charged by the US to the highest level since 1933, in a development that threatened to sink the US into recession while increasing living costs for consumers.Trump’s plans involve imposing a 10% tariff on all US trading partners from just after midnight on 5 April, before additional higher tariffs of up to 50% are imposed on countries including China, Vietnam and the EU.The non-partisan Tax Foundation thinktank said it estimated the plan would represent a “$1.8tn tax hike” for US consumers, which would cause imports to fall by more than a quarter, or $900bn, in 2025.While the measures will hit the US hard, researchers at the consultancy Oxford Economics said they could sink global economic growth to the lowest annual rate since the 2008 financial crisis, barring the height of the Covid pandemic.Countries scrambled to assess the fallout and whether to retaliate. The UK, which was hit with the lowest level of 10% tariffs, suggested it may retaliate even as it tries to strike a deal with Washington.It published a 417-page list of US products on which it could impose tariffs, including meat, fish and dairy products, whiskey and rum, clothing, motorcycles and musical instruments.The business secretary, Jonathan Reynolds, told MPs that ministers were still pursuing an economic deal with the US as the priority but “we do reserve the right to take any action we deem necessary if a deal is not secured”.The French president, Emmanuel Macron, said Trump’s decision to impose tariffs of 20% on EU goods was “brutal and unfounded”, while Germany’s outgoing chancellor, Olaf Scholz, called it “fundamentally wrong”.Spain’s prime minister, Pedro Sánchez, said the “protectionist” tariffs ran “contrary to the interests of millions of citizens on this side of the Atlantic and in the US”.The EU is thought to be preparing retaliatory tariffs on US consumer and industrial goods – likely to include emblematic products such as orange juice, blue jeans and Harley-Davidson motorbikes – to be announced in mid-April, in response to steel and aluminium tariffs previously announced by Trump. More
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Trump tariffs live: US markets see worst day in five years as president claims ‘stock is going to boom’
The New York stock exchange has closed on its worst day of trading since June 2020 – during the early months of the Covid-19 pandemic.The main indices saw their worst one-day falls in five years as Donald Trump claimed that “the markets are going to boom” in response to his sweeping tariffs.The S&P 500 index is down 4.9% at the close, which Reuters flags is the biggest one-day drop since June 2020.The Dow has also posted its biggest one-day drop since June 2020, down 4%.Meanwhile, the Nasdaq tumbled 5.9%, its worst single-day performance since March 2020.The scale of the sell-off, wiping trillions of dollars off the value of US companies, highlights just how alarmed investors are by the tariffs, and the fears they could lead to a recession.Speaking to reporters earlier on Thursday, Trump denied market turmoil presented a problem. The president said:
I think it’s going very well. It was an operation like when a patient gets operated on and it’s a big thing. I said this would be exactly the way it is … We’ve never seen anything like it. The markets are going to boom. The stock is going to boom. The country is going to boom.
Donald Trump told reporters aboard Air Force One today that tariffs on imported semiconductor chips and pharmaceuticals will be coming “soon”.He added that the “reciprocal” tariffs he announced yesterday have put the US “in the drivers seat.”“Every country is calling us. That’s the beauty of what we do,” he said. “If we would have asked these countries to do us a favor. They would have said no. Now they will do anything for us.”The Senate has confirmed Mehmet Oz – a former heart surgeon and TV personality – as the administrator of the Centers for Medicare and Medicaid Services.Oz will take the lead at the agency, which provides health care coverage to more than 160 million Americans – but which is facing significant changes as Congress debates cuts to the Medicaid coverage.For more, read on below:Volkswagen will add an import fee to its cars sold in the United States, the German automaker told its dealers today according to the Wall Street Journal.The news comes the same day Donald Trump’s 25% tariff on foreign automobiles went into effect. Volkswagen said it will announce the exact fee by mid-April.In a statement to the Wall Street Journal, the manufacturer said it wanted to be “very transparent about navigating through this time of uncertainty.”While countries around the world grapple with the meaning of the United States’s new “reciprocal” tariffs, two countries that were exempt from those particular duties – Mexico and Canada – are still preparing for the fallout of other trade decisions.Mexican president Claudia Sheinbaum announced plans to counter Trump’s tariffs earlier today, with a focus on increasing domestic production of items it has historically imported from the US, including natural gas.Although Mexico was not named in Trump’s “reciprocal” tariffs announcement, the country is still subject to a 25% tariff on automobiles, steel and aluminum.“Yesterday, something very important happened: the recognition of the free trade agreement between Mexico, Canada and the United States, which is fundamental at this moment,” she said during a speech in Mexico City.Meanwhile, in Canada, prime minister Mark Carney announced that Canada had introduced a 25% tariff on automobiles made in the United States.“We take these measures reluctantly,” he said. “And we take them in ways that’s intended and will cause maximum impact in the United States and minimum impact here in Canada.”Newly appointed as the Canadian prime minister, Carney added that he hoped to bring together a “coalition of like-minded countries” in search of an alternative to the US: “If the United States no longer wants to lead, Canada will.”Mike Pence will receive the John F Kennedy Profile in Courage Award in May for his refusal to go along with the 6 January attack on the US Capitol.The JFK Library Foundation shared the announcement today, saying the award will recognize Donald Trump’s former vice-president “for putting his life and career on the line to ensure the constitutional transfer of presidential power on Jan. 6, 2021.”After Joe Biden won the 2020 election, Trump put pressure on Pence to reject the results. When a mob of the president’s supporters stormed the Capitol in an attempt to overturn the results of the election, some chanted that they wanted to “hang Mike Pence.” Secret Service agents removed the vice-president from the Capitol, but Pence returned later to continue certifying the election results after the building was secured.The New York stock exchange has closed on its worst day of trading since June 2020 – during the early months of the Covid-19 pandemic.The main indices saw their worst one-day falls in five years as Donald Trump claimed that “the markets are going to boom” in response to his sweeping tariffs.The S&P 500 index is down 4.9% at the close, which Reuters flags is the biggest one-day drop since June 2020.The Dow has also posted its biggest one-day drop since June 2020, down 4%.Meanwhile, the Nasdaq tumbled 5.9%, its worst single-day performance since March 2020.The scale of the sell-off, wiping trillions of dollars off the value of US companies, highlights just how alarmed investors are by the tariffs, and the fears they could lead to a recession.Speaking to reporters earlier on Thursday, Trump denied market turmoil presented a problem. The president said:
I think it’s going very well. It was an operation like when a patient gets operated on and it’s a big thing. I said this would be exactly the way it is … We’ve never seen anything like it. The markets are going to boom. The stock is going to boom. The country is going to boom.
As news of Donald Trump’s “reciprocal” tariffs settles in today, the president’s allies on the far-right are reacting to news that their countries will face higher duties.In Italy, premier Giorgia Meloni told state television that she believes Trump’s decision to impose 20% tariffs on exports from Europe was “wrong”, but “it is not the catastrophe that some are making it out to be”.She added that the government will meet next week to discuss its response: “We need to open an honest discussion on the matter with the Americans, with the goal – at least from my point of view – of removing tariffs, not multiplying them”.Meanwhile, Argentinian president Javier Milei – who gifted tech billionaire Elon Musk a chainsaw at the Conservative Political Action Conference in February – said he hoped to meet Trump this evening at the “American Patriots Gala”. In response to the tariffs, Milei posted a link to the Queen song Friends will be Friends on social media.California’s Democratic representative Eric Swalwell has joined in a handful of lawmakers in criticizing Donald Trump’s latest tariffs, writing on X:
“Trump’s tariffs are a slap in the face to hardworking Americans, jacking up prices, straining small businesses, and risking jobs. This isn’t America first; it’s families last.”
Donald Trump is continuing to face criticism from US lawmakers after his tariffs reveal on Wednesday included tariffs on barren islands near Antartica that are populated by penguins.Senate minority leader Chuck Schumer called the tariffs “one of the dumbest decisions [Trump] has ever made as president”, adding: “And that’s saying something.”Schumer went on to say that “Donald Trump slapped tariffs on penguins and not on Putin,” in apparent reference to Trump’s 10% tariffs placed on the uninhabited Heard and McDonald Islands.Similarly, Adam Schiff, Democratic senator of California, released a video address on X of featuring a baby penguin he called “George.”
The Trump administration just put a tariff on this guy. That’s right, this guy. This is George. George lived on an uninhabited island called Heard Island … and Trump just put a 10% tariff on this island which begs of course the question, ‘What did George ever do to Donald Trump and his buddies?’
This is how nonsensical these tariffs are. This is how absurd and capricious and uncoordinated these tariffs are. And while it might seem absurd and funny that they put a tariff on penguins, it shows just the reckless nature of what they are doing. They are crashing the economy and it could just not be more self-destructive. We are alienating our friends and allies and even going after poor George.
Speaking to reporters on Thursday amid tumbling US stock markets and $2tn wiped off Wall Street after his tariffs reveal on Wednesday, Trump said:
I think it’s going very well. It was an operation like when a patient gets operated on and it’s a big thing. I said this would be exactly the way it is … We’ve never seen anything like it. The markets are going to boom. The stock is going to boom. The country is going to boom.
He went on to add:
The rest of the world wants to see is there is any way they can make a deal. They’ve taken advantage of us for many years … I think it’s going to be unbelievable …
Over the last nearly 24 hours, Trump has faced widespread backlash from US lawmakers and global leaders over his tariffs plan, with senior Republican senator Mitch McConnell calling it “bad policy” while Canada – a traditional American ally – called the tariffs “unjustified” and “unwanted”.Here is the latest chart of the S&P500 as of 2pm ET on Thursday: Mitch McConnell, the Kentucky Republican senator and former Senate majority leader, has criticized Donald Trump’s latest tariffs, saying that they are “bad policy and trade wars with our partners hurt working people most”.In a statement on Thursday afternoon, McConnell went on to say:
They are a tax on everyday working Americans. Preserving the long-term prosperity of American industry and workers requires working with our allies, not against them.
With so much at stake globally, the last thing we need is to pick fights with the very friends with whom we should be working with to protect against China’s predatory and unfair trade practices. That includes what we do on trade. More
