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Trump's new deep state warrior

Trump's new deep state warrior

Politicoa day ago
With help from Daniel Lippman and Nahal Toosi
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President DONALD TRUMP has found a new weapon in his war on alleged bias and corruption in the U.S. intelligence community: Rep. RICK CRAWFORD (R-Ark.).
In recent weeks, the first-time chair of the House Intelligence Committee has been one of the most outspoken critics of spy agencies' conclusion that Russia meddled in the 2016 election, bashing the Obama-era analysis as 'garbage' and the 'greatest political fraud on the American people' in the last decade. Last month, he also turned the screws on CIA Director JOHN RATCLIFFE to force the release of a highly critical but partisan review of the Russia assessment — even though it contained sensitive information about U.S. spying.
Crawford's willingness to stand up against the so-called Russia hoax has endeared him to the president and won him plaudits from some corners of the administration — while unnerving intelligence officials and even some colleagues in the GOP who think the disclosures could harm U.S. spycraft long-term.
Crawford demonstrated his hardline bona fides early last month, when he publicly excoriated a July CIA review that he said was too soft on the 2016 Russia report. He then claimed credit for getting Trump to force Ratcliffe to release a harsher probe that included such sensitive intelligence that it was at one point locked behind a vault within a vault at the spy agency.
The White House did not immediately respond to a request for comment on Crawford's recent actions on Russia.
The release of that probe, written by Republicans on the House Intelligence Committee in 2020, delighted Trump and Director of National Intelligence TULSI GABBARD, who touted it in a White House press conference last month as 'irrefutable evidence' the Obama administration was part of a 'treasonous conspiracy' to undermine Trump.
But the lightly redacted report described precise details on a U.S. spy who was close at the time to Russian leader VLADIMIR PUTIN and explosive but unverified Russian intelligence on HILLARY CLINTON that not only enraged Democrats but also alarmed intelligence officials, according to one senior U.S congressional aide and one former senior U.S intelligence official. The move even unnerved some House Republicans, per a senior U.S intelligence official and one former GOP congressional aide. These people were granted anonymity to speak candidly on the matter.
Sen. MARK WARNER (D-Va.), the vice chair of the Senate spy panel, last month decried the release of the HPSCI report as 'desperate and irresponsible,' claiming it 'puts at risk some of the most sensitive sources and methods our Intelligence Community uses to spy on Russia.' Warner and other Democrats also pointed out that a longer, bipartisan review from the Senate Intelligence Committee in 2020 backed the intelligence community's findings.
A HPSCI spokesperson said it was the executive branch's — not Crawford's — call about how much information to redact or not.
A CIA spokesperson said the agency 'strongly supports' the release of the HPSCI report, and Ratcliffe is committed to bringing greater transparency to the intelligence community. The shorter review Ratcliffe put out earlier in July went to greater lengths to protect sensitive information.
An ODNI official said that while the agency would 'normally be required to consult' with other agencies about declassifications, Trump made the final decision — and as president, he 'is not under the same consultation obligations.'
In a lengthy statement, Crawford said that while he strives for bipartisanship, he will 'never apologize for pushing for more transparency for the American people,' adding: 'These efforts are required to rebuild the integrity of the IC and trust with the American people.'
The Inbox
HEADHUNT: The White House is reupping its search for a new chief of staff for Defense Secretary PETE HEGSETH to replace acting chief of staff RICKY BURIA, who has clashed with White House officials, according to three people familiar with the matter, Daniel Lippman reports (for Pros!).
The White House's Presidential Personnel Office renewed its search for a top aide for Hegseth in the past few days, following Buria's attempt to fire Pentagon White House liaison MATT McNITT last week. Buria tried to take action against McNitt after he told Buria that he would never be chief of staff, according to the people. All were granted anonymity to speak candidly about personnel matters.
Since Hegseth's last chief of staff, JOE KASPER, left in April, Buria has effectively taken over the role. But he is widely distrusted in the White House.
Buria was present during the interview process for several candidates for the chief of staff role a few months ago, but none of them accepted the job, according to the people. This time around, the White House plans to have Hegseth more heavily involved in interviewing candidates himself without Buria's involvement, one of the people said.
Asked to comment on this reporting, White House spokesperson ANNA KELLY called it 'fake news.'
Pentagon spokespeople referred a request for comment to the White House. Buria and McNitt didn't respond to requests for comment.
TICK TOCK: Only three days remain until the White House's deadline for Moscow to reach a truce with Ukraine arrives — but Putin is calling Trump's bluff, Reuters' Darya Korsunskaya, Andrew Osborn and Mark Trevelyan report today.
Three sources close to the Kremlin told Reuters that Putin is unfazed despite threats of new sanctions and 100 percent tariffs on countries that purchase its oil. Putin is reportedly confident that Russia is winning in its yearslong fight against Ukraine and that the Russian economy will be able to weather the new sanctions.
The Kremlin did not dispel the notion that ongoing peace talks remain superficial, conditioning a possible meeting between Putin and Ukrainian President VOLODYMYR ZELENSKYY on the completion of unspecified 'work' in a Monday statement. But according to Bloomberg, Moscow is considering at least some concessions to Trump, with a possible air truce in Ukraine reportedly on the table.
That comes as special envoy STEVE WITKOFF is set to visit Russia as soon as tomorrow and as Trump spoke with Zelenskyy today ahead of the looming deadline. In a post on X, Zelenskyy called the meeting 'productive' and thanked Trump for his continued support of Ukraine, adding, 'Of course, we spoke about sanctions against Russia.'
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Keystrokes
IRAN CYBER: Cyber groups linked to Iran's government sought to sway public opinion and steal data during Iran's brief conflict with Israel this June, according to a new report.
SEPAHCYBERY, a group tied to the Islamic Revolutionary Guard Corps, posted a barrage of around 9,000 posts over 14 days on Iran's ability to strike Western targets and other topics. Other groups supportive of Iran's government were far more active, with one group posting 46,311 messages over 12 days.
A separate effort by a group known as Imperial Kitten to security researchers — also suspected of having ties to the IRGC — created websites with names that suggested support for Israel. The group then set up the websites such that they could be used to steal information.
The Complex
ALL QUIET ON THE GOLDEN FRONT: Hegseth has barred Pentagon officials from discussing Trump's shiny new Golden Dome missile defense system proposal at a major missile defense conference in Alabama this week, our colleague Joe Gould scooped this morning (for Pros!).
Many of the 7,000+ expected attendees arrived in Huntsville today with the hopes of hearing details about the multibillion-dollar project, event organizers told Joe. But Hegseth's public affairs office told organizers not to mention the initiative until a closed-door, unclassified briefing for industry on Thursday. As CNN's Natasha Bertrand and Zachary Cohen reported last week, the Pentagon has scheduled its first major test of the system for the fourth quarter of 2028 – just before the next presidential election — delivering on the Trump administration's aggressive three-year timeline for getting the project off the ground.
But the missile defense system still faces major challenges: The defense appropriations bill approved last week by the Senate Appropriations Committee allocates no money for the project, which received $25 billion through the Republican-passed megabill.
CASH FOR GUNS: Denmark, Norway and Sweden said today that they are spending $500 million on U.S. weapons and munitions for Ukraine, one day after the Netherlands became the first to participate in the Trump administration plan.
The NATO announcement did not specify what types of weapons the money would be spent on. Sweden's Defense Ministry said that it would include air defense systems, including Patriot munitions, anti-tank systems, ammunition and spare parts. The Danish Defense in a separate statement said that it 'expected' its contribution to the $500 million pledge to go toward air defense and artillery.
The Netherlands on Monday announced a 500 million euro ($578 million) package for Ukraine. The money will partially go toward the delivery of Patriot air defense missiles, the Dutch Defense Ministry said.
The purchases are part of a plan announced in July by NATO Secretary General MARK RUTTE and Trump under which European NATO allies and Canada will pay the U.S. for weapons sent to Ukraine. U.S. Ambassador to NATO MATTHEW WHITAKER previously said that the Netherlands will be 'just the first of many' participants.
On the Hill
COTTON COMES FOR CAIR: Sen. TOM COTTON (R-Ark.) sent a letter to Internal Revenue Service earlier today calling on it to investigate the non-profit status of the Council on American-Islamic Relations, a civil rights and advocacy organization focused on advocating for and protecting Muslim Americans. In the letter, Cotton accused CAIR of having 'deep ties to terrorist organizations' and asked IRS Commissioner BILLY LONG to probe the organization's compliance with IRS rules prohibiting 501(c)(3) organizations from providing material support for terrorism.
'Tom Cotton's baseless demand that the IRS target a nonprofit organization based on debunked conspiracy theories is an un-American political stunt straight from McCarthy era and a dangerous tactic that congressional Republicans of a different era once opposed,' CAIR said in a statement shared with NatSec Daily.
The IRS declined to comment, citing restrictions on its ability to disclose information related to tax returns.
NEW ENGLAND BLOC DEFENDS DOCKS: Sen. JEANNE SHAHEEN (D-N.H.) is leading a new bipartisan bill that would prohibit layoffs and hiring freezes at the four public shipyards in the U.S. The bill aims to address logistical and personnel challenges that have hindered the Navy's ability to deliver on shipbuilding efforts on time.
Shaheen, along with Sens. MAGGIE HASSAN (D-N.H.), SUSAN COLLINS (R-Maine) and ANGUS KING (I-Maine), is also looking to protect Portsmouth, the Navy's oldest continuously operating shipyard, which sits just off the New Hampshire-Maine border after a breakdown in communication between the Pentagon and the Office of Personnel Management led to dozens of workers there not starting work.
Wish you had this scoop first? Click here to learn more about becoming a member of the POLITICO Pro community so you can get Morning Defense delivered straight to your inbox each morning.
Broadsides
TARIFF HIKE: Trump today threatened to raise tariffs 'very substantially' in the next 24 hours on India over its continued purchases of Russian oil.
India is 'fueling the war machine,' Trump said during an interview with CNBC, referring to Russia's invasion of Ukraine. 'If they're going to do that, then I'm not going to be happy.' Russia is a top producer of energy, with money made from oil and gas accounting for nearly a third of Russian state revenue.
Trump separately said that Putin would 'stop killing people' if oil prices fell a further $10 a barrel. Today, Bloomberg reported declining Russian state revenue from oil due to a decline in its price. 'He's going to have no choice, because his economy stinks,' Trump said.
Still, the Russian government has proven resilient to economic shocks in the past, with the nation continuing to press its invasion into Ukraine while coping with an array of Western sanctions levied on it.
Transitions
— JEN EASTERLY, who led CISA under the Biden administration, is joining cybersecurity firm Huntress' advisory board. Easterly was fired from her role at West Point last week by Army Secretary DAN DRISCOLL after coming under fire from far-right activists, including LAURA LOOMER.
— ALYSSA PETTUS is departing her role as communications director for the House Select Committee on China; she'll be senior vice president for communications at the Export-Import Bank beginning Aug. 11.
— JACKIE KOO has joined Mastercard as director of government affairs and policy. She most recently served as chief of staff and senior manager for global public policy at Boeing.
— STEPHANIE THARP is joining Sigma Defense Systems as vice president of programs for its Innovative Mission Solutions Division. She was most recently a senior adviser for NAVWAR.
— PATRICK FLOOD is now a principal on the national security team of Cornerstone Government Affairs.
— JAKE LEVINE, who previously worked on the National Security Council under the Biden administration, is running for Congress in California.
What to Read
— Elisabeth Bumiller, The New York Times:Mike Huckabee, Israel's Passionate Defender as Gaza War Drives Allies Away
— Rob Geist Pinfold, Foreign Policy:Israel Isn't a Hegemon Yet, But It's Now a Revisionist Power
— Arash Azizi, The Atlantic: The Islamic Republic Was Never Inevitable
— Ruth Margalit, The New Yorker:Israelis Are Starting to Talk About Famine in Gaza
Tomorrow Today
— Center for a New American Security, 9:30 a.m.: Countering China's Digital Silk Road: Kenya
— Aspen Institute, 3:30 p.m.: Advancing America's Prosperity
Thanks to our editors, Rosie Perper and Emily Lussier, who may unfairly call our analysis questionable — but never 'garbage'!
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Trump tariffs live updates: Trump boasts of tariff billions, vows to punish China on for Russian oil
Trump tariffs live updates: Trump boasts of tariff billions, vows to punish China on for Russian oil

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Trump tariffs live updates: Trump boasts of tariff billions, vows to punish China on for Russian oil

President Trump took to Truth Social on Thursday boasting that billions of dollars in tariffs were now flowing into the US. "IT'S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!" Trump wrote. The US president added that this additional money will come "largely from countries" that he says has taken "advantage" of the US. "RECIPROCAL TARIFFS TAKE EFFECT AT MIDNIGHT TONIGHT! BILLIONS OF DOLLARS, LARGELY FROM COUNTRIES THAT HAVE TAKEN ADVANTAGE OF THE UNITED STATES FOR MANY YEARS, LAUGHING ALL THE WAY, WILL START FLOWING INTO THE USA." Trump's sweeping "reciprocal" tariffs hit US trade partners on Thursday when his deadline to strike deals expired at 12:01 a.m ET. As the trade deadline loomed Wednesday, Trump signed an executive order imposing an additional 25% tariff on India over its purchases of Russian oil. The new tariff, which will come into effect in 21 days, is set to "stack" on top of an existing country-specific tariff of 25%, which takes effect today. In doing so, Trump is set to make good on a threat for higher tariffs on India, as he has accused the country of effectively financing the Russian war in Ukraine. "They're fueling the war machine," he charged in a CNBC interview. Trump also floated the idea of higher tariffs on China due to Beijing's purchase of Russian oil. Trump said he would punish China with additional tariffs. Outside of China and India, Switzerland is the developed nation whose goods face a whopping increase: up to 39%. You can see the new rates Trump is set to levy in the graphic below: Trump also said that he would soon announce tariffs on semiconductor and pharmaceutical imports, as he prepares to add more sectoral duties to his mix of tariffs. He said duties on pharma could eventually balloon as high as 250%. On Wednesday, during a White House event with Apple (AAPL) CEO Tim Cook, he suggested he would impose a tariff of 100% on "all chips and semiconductors coming into the United States." In the past several days, Trump has unleashed a flurry of deals and trade moves leading up to his self-imposed deadline: Trump granted Mexico, the US's largest trading partner, a 90-day reprieve on higher tariffs. Trump hiked tariffs on Canadian imports to 35%, though goods contained in the US-Mexico-Canada agreement are exempt, keeping this hike's impact limited so far. The US agreed to a trade deal with South Korea. The agreement includes a 15% tariff rate on imports from the country, while the US will not be charged a tariff on its exports. Trump imposed 50% tariffs on semi-finished copper products starting Aug. 1. The president signed an order to end the de minimis exemption on low-value imports under $800, thereby applying tariffs from Aug. 29. Trump signed another order to impose a total of 50% tariffs on many goods from Brazil. However, it exempts key US imports like orange juice and aircraft parts. The US and EU agreed to a trade deal that imposes 15% tariffs on EU goods. The nations are still working on finalizing many terms of the deal. Read more: What Trump's tariffs mean for the economy and your wallet Here are the latest updates as the policy reverberates around the world. Trump says he plans to set tariffs on computer chips at 100% President Trump said on Wednesday at a press conference with Apple CEO Tim Cook that he is planning to set a 100% tariff on semiconductor imports. Companies that pledge to invest in manufacturing in the US, however, will be exempt from the tariff. Reuters reports: Read more here. Apple set to dodge bulk of India tariffs Yahoo Finance's Dan Howley reports: Apple CEO Tim Cook has arrived at the White House. He is scheduled to speak with President Trump this afternoon and unveil an additional $100 billion investment in US manufacturing, on top of the $500 billion commitment already pledged by the company. Modi's rival blasts 'bully' Trump as public opinion hardens Rahul Gandhi, Narendra Modi's most recognizable political rival, has come out to call President Trump a "bully" for his negotiation tactics. Bloomberg reports: Read more here. Trump order lowering tariffs on EU autos still days away: source European automakers will have to hold on a little while longer before President Trump lowers auto tariffs as EU-US negotiations continue. Reuters reports: Read more here. Alcohol groups say tariffs put $2B in sales and 25,000 jobs at risk In a letter to President Trump, a group comprising of 57 alcohol industry firms have said that Trump's tariffs of 15% on EU goods could reduce the value of alcohol sales by almost $2B and put 25,000 jobs at risk. Reuters reports: Read more here. Trump hits India with additional 25% tariff over Russia oil buys President Trump has hit India with an additional 25% tariff due to India's purchase of Russian oil. The US president threatened India with higher tariffs earlier this week, which India's Prime Minister Narendra Modi called "unjustified," also calling out the US for its double standard over Russia. In an interview with CNBC on Tuesday, Trump said that India was helping to fuel the war machine. 'They're fueling the war machine. And if they're going to do that, then I'm not going to be happy,' Trump said. In the early days of trade negotiations, relations between the US and India appeared more friendly, with both sides saying they would reach a deal within days. However, over recent months ,things seem to have turned sour as neither side can agree on some of the finer details within the deal, which concern dairy and agricultural products. As a result, a trade war seems to have developed between the two sides, and now with this additional 25% tariff gift from Trump to Modi, the two seem further away from reaching an agreement than ever before. Carney says he'll look at opportunities to remove tariffs on US Canadian Prime Minister Mark Carney said that he will look to assess ways in which he can remove some counter-tariffs against the US. Carney's statement seems at odds with his earlier commitments to fight back against President Trump's trade war. Bloomberg News reports: Read more here. Trump says Japan to import Ford's huge F-150 pickup trucks President Trump said that Japan has agreed to accept imports of Ford's F-150 pick up trucks. This latest news is seen as a sign that the two sides may not be on the same page when it comes to their understanding of the trade agreement reached last month. Bloomberg News reports: Read more here. US investments under trade deal will be determined by benefits for Tokyo: Japan Reuters reports: Read more here. Honda Q1 operating profit halves on tariffs Shares in Honda Motor (HMC) rose 2% premarket on Wednesday after the automaker reported a 50% drop in first-quarter operating profit. A stronger yen and the impact of President Trump's tariffs took their toll, but the company raised its full-year forecast. Reuters reports: Read more here. China draws red lines on US chip tracking with Nvidia meeting China is pushing back against the US over chips despite their overall trade truce. Last week, Beijing summoned Nvidia (NVDA) staff over security concerns with H20 chips, signaling opposition to the US plans to track advanced semiconductors. Analysts view China's latest move as a warning that it will not allow the US to dominate the chip sector. Bloomberg News reports: Read more here. Trump says he's readying more tariffs on Russian energy buyers Bloomberg News reports: Read more here. Canada to help lumber industry cope with US tariffs: Carney Prime Minister Mark Carney has announced that Canada will provide funds to help the lumber industry prepare for tariffs. Reuters reports: Read more here. Starbucks under pressure again as Brazilian tariffs hike coffee costs Starbucks (SBUX) may soon hike prices on its pumpkin spice lattes and bottled Frappuccinos as it faces cost pressure from the 50% tariff on Brazilian coffee imports, which takes effect on Aug. 6. Yahoo Finance's Francisco Velasquez reports: Read more here. EU continues to press for tariff exemption on wine, spirits as part of US deal The EU is pushing for its wine and spirit exports to be exempt from US tariffs, while both sides work towards refining the deal they agreed last month. The WSJ reports: Read more here. Countries push for last-minute deals as Thursday tariff deadline looms Global importers are bracing for President Trump's next tariff deadline on Thursday morning, when the president's tiered approach to tariffs is expected to take effect. Yet some of the details around trade agreements remain fuzzy. Yahoo Finance's Ben Werschkul reports: Read more here. Trump's copper tariffs apply to $15B of products so far President Trump's copper (HG=F) tariffs are due to hit imports valued at more than $15B in 2024, highlighting the potential inflationary impact on American manufacturers. Trump's unveiling of 50% import duties rattled the global copper market last week, because the US president provided a surprise exemption to key forms of wiring metal. But it still leaves significant trade volumes subject to tariffs. Bloomberg News reports: Read more here. Trump threatens EU with increased tariffs if it doesn't meet investment pledge President Trump threatened to hike tariffs on the European Union back to 35% if the bloc fails to live up to a pledge to invest some $600 billion in the US. "A couple of countries came [and said], 'How come the EU is paying less than us?' And I said well, because they gave me $600 billion," Trump said during a CNBC interview. "And that's a gift, that's not like, you know, a loan," he said, claiming that the terms allow the US to direct where the EU invests. Trump says pharma duties could go to 250% President Trump said he would announce tariffs on semiconductor and pharmaceutical imports "within the next week or so." "We'll be putting a initially small tariff on pharmaceuticals, but in one year — one and a half years, maximum — it's going to go to 150%. And then it's going to go to 250%, because we want pharmaceuticals made in our country," Trump said during a CNBC interview. He said semiconductor and chip tariffs would be in a "different category." US tariff on EU goods set at flat 15% The EU said on Tuesday that European Union goods entering the US face a flat 15% tariff, including cars and car parts. The rate includes the Most Favoured Nation (MFN) tariff and won't exceed 15% even if the US raises tariffs on items like semiconductors and medicines. The EU said it still expects turbulence in its trade dealings with the US. Reuters reports: Read more here. Trump says he plans to set tariffs on computer chips at 100% President Trump said on Wednesday at a press conference with Apple CEO Tim Cook that he is planning to set a 100% tariff on semiconductor imports. Companies that pledge to invest in manufacturing in the US, however, will be exempt from the tariff. Reuters reports: Read more here. President Trump said on Wednesday at a press conference with Apple CEO Tim Cook that he is planning to set a 100% tariff on semiconductor imports. Companies that pledge to invest in manufacturing in the US, however, will be exempt from the tariff. Reuters reports: Read more here. Apple set to dodge bulk of India tariffs Yahoo Finance's Dan Howley reports: Apple CEO Tim Cook has arrived at the White House. He is scheduled to speak with President Trump this afternoon and unveil an additional $100 billion investment in US manufacturing, on top of the $500 billion commitment already pledged by the company. Yahoo Finance's Dan Howley reports: Apple CEO Tim Cook has arrived at the White House. He is scheduled to speak with President Trump this afternoon and unveil an additional $100 billion investment in US manufacturing, on top of the $500 billion commitment already pledged by the company. Modi's rival blasts 'bully' Trump as public opinion hardens Rahul Gandhi, Narendra Modi's most recognizable political rival, has come out to call President Trump a "bully" for his negotiation tactics. Bloomberg reports: Read more here. Rahul Gandhi, Narendra Modi's most recognizable political rival, has come out to call President Trump a "bully" for his negotiation tactics. Bloomberg reports: Read more here. Trump order lowering tariffs on EU autos still days away: source European automakers will have to hold on a little while longer before President Trump lowers auto tariffs as EU-US negotiations continue. Reuters reports: Read more here. European automakers will have to hold on a little while longer before President Trump lowers auto tariffs as EU-US negotiations continue. Reuters reports: Read more here. Alcohol groups say tariffs put $2B in sales and 25,000 jobs at risk In a letter to President Trump, a group comprising of 57 alcohol industry firms have said that Trump's tariffs of 15% on EU goods could reduce the value of alcohol sales by almost $2B and put 25,000 jobs at risk. Reuters reports: Read more here. In a letter to President Trump, a group comprising of 57 alcohol industry firms have said that Trump's tariffs of 15% on EU goods could reduce the value of alcohol sales by almost $2B and put 25,000 jobs at risk. Reuters reports: Read more here. Trump hits India with additional 25% tariff over Russia oil buys President Trump has hit India with an additional 25% tariff due to India's purchase of Russian oil. The US president threatened India with higher tariffs earlier this week, which India's Prime Minister Narendra Modi called "unjustified," also calling out the US for its double standard over Russia. In an interview with CNBC on Tuesday, Trump said that India was helping to fuel the war machine. 'They're fueling the war machine. And if they're going to do that, then I'm not going to be happy,' Trump said. In the early days of trade negotiations, relations between the US and India appeared more friendly, with both sides saying they would reach a deal within days. However, over recent months ,things seem to have turned sour as neither side can agree on some of the finer details within the deal, which concern dairy and agricultural products. As a result, a trade war seems to have developed between the two sides, and now with this additional 25% tariff gift from Trump to Modi, the two seem further away from reaching an agreement than ever before. President Trump has hit India with an additional 25% tariff due to India's purchase of Russian oil. The US president threatened India with higher tariffs earlier this week, which India's Prime Minister Narendra Modi called "unjustified," also calling out the US for its double standard over Russia. In an interview with CNBC on Tuesday, Trump said that India was helping to fuel the war machine. 'They're fueling the war machine. And if they're going to do that, then I'm not going to be happy,' Trump said. In the early days of trade negotiations, relations between the US and India appeared more friendly, with both sides saying they would reach a deal within days. However, over recent months ,things seem to have turned sour as neither side can agree on some of the finer details within the deal, which concern dairy and agricultural products. As a result, a trade war seems to have developed between the two sides, and now with this additional 25% tariff gift from Trump to Modi, the two seem further away from reaching an agreement than ever before. Carney says he'll look at opportunities to remove tariffs on US Canadian Prime Minister Mark Carney said that he will look to assess ways in which he can remove some counter-tariffs against the US. Carney's statement seems at odds with his earlier commitments to fight back against President Trump's trade war. Bloomberg News reports: Read more here. Canadian Prime Minister Mark Carney said that he will look to assess ways in which he can remove some counter-tariffs against the US. Carney's statement seems at odds with his earlier commitments to fight back against President Trump's trade war. Bloomberg News reports: Read more here. Trump says Japan to import Ford's huge F-150 pickup trucks President Trump said that Japan has agreed to accept imports of Ford's F-150 pick up trucks. This latest news is seen as a sign that the two sides may not be on the same page when it comes to their understanding of the trade agreement reached last month. Bloomberg News reports: Read more here. President Trump said that Japan has agreed to accept imports of Ford's F-150 pick up trucks. This latest news is seen as a sign that the two sides may not be on the same page when it comes to their understanding of the trade agreement reached last month. Bloomberg News reports: Read more here. US investments under trade deal will be determined by benefits for Tokyo: Japan Reuters reports: Read more here. Reuters reports: Read more here. Honda Q1 operating profit halves on tariffs Shares in Honda Motor (HMC) rose 2% premarket on Wednesday after the automaker reported a 50% drop in first-quarter operating profit. A stronger yen and the impact of President Trump's tariffs took their toll, but the company raised its full-year forecast. Reuters reports: Read more here. Shares in Honda Motor (HMC) rose 2% premarket on Wednesday after the automaker reported a 50% drop in first-quarter operating profit. A stronger yen and the impact of President Trump's tariffs took their toll, but the company raised its full-year forecast. Reuters reports: Read more here. China draws red lines on US chip tracking with Nvidia meeting China is pushing back against the US over chips despite their overall trade truce. Last week, Beijing summoned Nvidia (NVDA) staff over security concerns with H20 chips, signaling opposition to the US plans to track advanced semiconductors. Analysts view China's latest move as a warning that it will not allow the US to dominate the chip sector. Bloomberg News reports: Read more here. China is pushing back against the US over chips despite their overall trade truce. Last week, Beijing summoned Nvidia (NVDA) staff over security concerns with H20 chips, signaling opposition to the US plans to track advanced semiconductors. Analysts view China's latest move as a warning that it will not allow the US to dominate the chip sector. Bloomberg News reports: Read more here. Trump says he's readying more tariffs on Russian energy buyers Bloomberg News reports: Read more here. Bloomberg News reports: Read more here. Canada to help lumber industry cope with US tariffs: Carney Prime Minister Mark Carney has announced that Canada will provide funds to help the lumber industry prepare for tariffs. Reuters reports: Read more here. Prime Minister Mark Carney has announced that Canada will provide funds to help the lumber industry prepare for tariffs. Reuters reports: Read more here. Starbucks under pressure again as Brazilian tariffs hike coffee costs Starbucks (SBUX) may soon hike prices on its pumpkin spice lattes and bottled Frappuccinos as it faces cost pressure from the 50% tariff on Brazilian coffee imports, which takes effect on Aug. 6. Yahoo Finance's Francisco Velasquez reports: Read more here. Starbucks (SBUX) may soon hike prices on its pumpkin spice lattes and bottled Frappuccinos as it faces cost pressure from the 50% tariff on Brazilian coffee imports, which takes effect on Aug. 6. Yahoo Finance's Francisco Velasquez reports: Read more here. EU continues to press for tariff exemption on wine, spirits as part of US deal The EU is pushing for its wine and spirit exports to be exempt from US tariffs, while both sides work towards refining the deal they agreed last month. The WSJ reports: Read more here. The EU is pushing for its wine and spirit exports to be exempt from US tariffs, while both sides work towards refining the deal they agreed last month. The WSJ reports: Read more here. Countries push for last-minute deals as Thursday tariff deadline looms Global importers are bracing for President Trump's next tariff deadline on Thursday morning, when the president's tiered approach to tariffs is expected to take effect. Yet some of the details around trade agreements remain fuzzy. Yahoo Finance's Ben Werschkul reports: Read more here. Global importers are bracing for President Trump's next tariff deadline on Thursday morning, when the president's tiered approach to tariffs is expected to take effect. Yet some of the details around trade agreements remain fuzzy. Yahoo Finance's Ben Werschkul reports: Read more here. Trump's copper tariffs apply to $15B of products so far President Trump's copper (HG=F) tariffs are due to hit imports valued at more than $15B in 2024, highlighting the potential inflationary impact on American manufacturers. Trump's unveiling of 50% import duties rattled the global copper market last week, because the US president provided a surprise exemption to key forms of wiring metal. But it still leaves significant trade volumes subject to tariffs. Bloomberg News reports: Read more here. President Trump's copper (HG=F) tariffs are due to hit imports valued at more than $15B in 2024, highlighting the potential inflationary impact on American manufacturers. Trump's unveiling of 50% import duties rattled the global copper market last week, because the US president provided a surprise exemption to key forms of wiring metal. But it still leaves significant trade volumes subject to tariffs. Bloomberg News reports: Read more here. Trump threatens EU with increased tariffs if it doesn't meet investment pledge President Trump threatened to hike tariffs on the European Union back to 35% if the bloc fails to live up to a pledge to invest some $600 billion in the US. "A couple of countries came [and said], 'How come the EU is paying less than us?' And I said well, because they gave me $600 billion," Trump said during a CNBC interview. "And that's a gift, that's not like, you know, a loan," he said, claiming that the terms allow the US to direct where the EU invests. President Trump threatened to hike tariffs on the European Union back to 35% if the bloc fails to live up to a pledge to invest some $600 billion in the US. "A couple of countries came [and said], 'How come the EU is paying less than us?' And I said well, because they gave me $600 billion," Trump said during a CNBC interview. "And that's a gift, that's not like, you know, a loan," he said, claiming that the terms allow the US to direct where the EU invests. Trump says pharma duties could go to 250% President Trump said he would announce tariffs on semiconductor and pharmaceutical imports "within the next week or so." "We'll be putting a initially small tariff on pharmaceuticals, but in one year — one and a half years, maximum — it's going to go to 150%. And then it's going to go to 250%, because we want pharmaceuticals made in our country," Trump said during a CNBC interview. He said semiconductor and chip tariffs would be in a "different category." President Trump said he would announce tariffs on semiconductor and pharmaceutical imports "within the next week or so." "We'll be putting a initially small tariff on pharmaceuticals, but in one year — one and a half years, maximum — it's going to go to 150%. And then it's going to go to 250%, because we want pharmaceuticals made in our country," Trump said during a CNBC interview. He said semiconductor and chip tariffs would be in a "different category." US tariff on EU goods set at flat 15% The EU said on Tuesday that European Union goods entering the US face a flat 15% tariff, including cars and car parts. The rate includes the Most Favoured Nation (MFN) tariff and won't exceed 15% even if the US raises tariffs on items like semiconductors and medicines. The EU said it still expects turbulence in its trade dealings with the US. Reuters reports: Read more here. The EU said on Tuesday that European Union goods entering the US face a flat 15% tariff, including cars and car parts. The rate includes the Most Favoured Nation (MFN) tariff and won't exceed 15% even if the US raises tariffs on items like semiconductors and medicines. The EU said it still expects turbulence in its trade dealings with the US. Reuters reports: Read more here. 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Trump tariffs live updates: Trump boasts of tariff billions, vows to punish China for Russian oil
Trump tariffs live updates: Trump boasts of tariff billions, vows to punish China for Russian oil

Yahoo

time9 minutes ago

  • Yahoo

Trump tariffs live updates: Trump boasts of tariff billions, vows to punish China for Russian oil

President Trump took to Truth Social on Thursday boasting that billions of dollars in tariffs were now flowing into the US. "IT'S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!" Trump wrote. The US president added that this additional money will come "largely from countries" that he says has taken "advantage" of the US. "RECIPROCAL TARIFFS TAKE EFFECT AT MIDNIGHT TONIGHT! BILLIONS OF DOLLARS, LARGELY FROM COUNTRIES THAT HAVE TAKEN ADVANTAGE OF THE UNITED STATES FOR MANY YEARS, LAUGHING ALL THE WAY, WILL START FLOWING INTO THE USA." Trump's sweeping "reciprocal" tariffs hit US trade partners on Thursday when his deadline to strike deals expired at 12:01 a.m ET. As the trade deadline loomed Wednesday, Trump signed an executive order imposing an additional 25% tariff on India over its purchases of Russian oil. The new tariff, which will come into effect in 21 days, is set to "stack" on top of an existing country-specific tariff of 25%, which takes effect today. In doing so, Trump is set to make good on a threat for higher tariffs on India, as he has accused the country of effectively financing the Russian war in Ukraine. "They're fueling the war machine," he charged in a CNBC interview. Trump also floated the idea of higher tariffs on China due to Beijing's purchase of Russian oil. Trump said he would punish China with additional tariffs. Outside of China and India, Switzerland is the developed nation whose goods face a whopping increase: up to 39%. You can see the new rates Trump is set to levy in the graphic below: Trump also said that he would soon announce tariffs on semiconductor and pharmaceutical imports, as he prepares to add more sectoral duties to his mix of tariffs. He said duties on pharma could eventually balloon as high as 250%. On Wednesday, during a White House event with Apple (AAPL) CEO Tim Cook, he suggested he would impose a tariff of 100% on "all chips and semiconductors coming into the United States." In the past several days, Trump has unleashed a flurry of deals and trade moves leading up to his self-imposed deadline: Trump granted Mexico, the US's largest trading partner, a 90-day reprieve on higher tariffs. Trump hiked tariffs on Canadian imports to 35%, though goods contained in the US-Mexico-Canada agreement are exempt, keeping this hike's impact limited so far. The US agreed to a trade deal with South Korea. The agreement includes a 15% tariff rate on imports from the country, while the US will not be charged a tariff on its exports. Trump imposed 50% tariffs on semi-finished copper products starting Aug. 1. The president signed an order to end the de minimis exemption on low-value imports under $800, thereby applying tariffs from Aug. 29. Trump signed another order to impose a total of 50% tariffs on many goods from Brazil. However, it exempts key US imports like orange juice and aircraft parts. The US and EU agreed to a trade deal that imposes 15% tariffs on EU goods. The nations are still working on finalizing many terms of the deal. Read more: What Trump's tariffs mean for the economy and your wallet Here are the latest updates as the policy reverberates around the world. Trump says he plans to set tariffs on computer chips at 100% President Trump said on Wednesday at a press conference with Apple CEO Tim Cook that he is planning to set a 100% tariff on semiconductor imports. Companies that pledge to invest in manufacturing in the US, however, will be exempt from the tariff. Reuters reports: Read more here. Apple set to dodge bulk of India tariffs Yahoo Finance's Dan Howley reports: Apple CEO Tim Cook has arrived at the White House. He is scheduled to speak with President Trump this afternoon and unveil an additional $100 billion investment in US manufacturing, on top of the $500 billion commitment already pledged by the company. Modi's rival blasts 'bully' Trump as public opinion hardens Rahul Gandhi, Narendra Modi's most recognizable political rival, has come out to call President Trump a "bully" for his negotiation tactics. Bloomberg reports: Read more here. Trump order lowering tariffs on EU autos still days away: source European automakers will have to hold on a little while longer before President Trump lowers auto tariffs as EU-US negotiations continue. Reuters reports: Read more here. Alcohol groups say tariffs put $2B in sales and 25,000 jobs at risk In a letter to President Trump, a group comprising of 57 alcohol industry firms have said that Trump's tariffs of 15% on EU goods could reduce the value of alcohol sales by almost $2B and put 25,000 jobs at risk. Reuters reports: Read more here. Trump hits India with additional 25% tariff over Russia oil buys President Trump has hit India with an additional 25% tariff due to India's purchase of Russian oil. The US president threatened India with higher tariffs earlier this week, which India's Prime Minister Narendra Modi called "unjustified," also calling out the US for its double standard over Russia. In an interview with CNBC on Tuesday, Trump said that India was helping to fuel the war machine. 'They're fueling the war machine. And if they're going to do that, then I'm not going to be happy,' Trump said. In the early days of trade negotiations, relations between the US and India appeared more friendly, with both sides saying they would reach a deal within days. However, over recent months ,things seem to have turned sour as neither side can agree on some of the finer details within the deal, which concern dairy and agricultural products. As a result, a trade war seems to have developed between the two sides, and now with this additional 25% tariff gift from Trump to Modi, the two seem further away from reaching an agreement than ever before. Carney says he'll look at opportunities to remove tariffs on US Canadian Prime Minister Mark Carney said that he will look to assess ways in which he can remove some counter-tariffs against the US. Carney's statement seems at odds with his earlier commitments to fight back against President Trump's trade war. Bloomberg News reports: Read more here. Trump says Japan to import Ford's huge F-150 pickup trucks President Trump said that Japan has agreed to accept imports of Ford's F-150 pick up trucks. This latest news is seen as a sign that the two sides may not be on the same page when it comes to their understanding of the trade agreement reached last month. Bloomberg News reports: Read more here. US investments under trade deal will be determined by benefits for Tokyo: Japan Reuters reports: Read more here. Honda Q1 operating profit halves on tariffs Shares in Honda Motor (HMC) rose 2% premarket on Wednesday after the automaker reported a 50% drop in first-quarter operating profit. A stronger yen and the impact of President Trump's tariffs took their toll, but the company raised its full-year forecast. Reuters reports: Read more here. China draws red lines on US chip tracking with Nvidia meeting China is pushing back against the US over chips despite their overall trade truce. Last week, Beijing summoned Nvidia (NVDA) staff over security concerns with H20 chips, signaling opposition to the US plans to track advanced semiconductors. Analysts view China's latest move as a warning that it will not allow the US to dominate the chip sector. Bloomberg News reports: Read more here. Trump says he's readying more tariffs on Russian energy buyers Bloomberg News reports: Read more here. Canada to help lumber industry cope with US tariffs: Carney Prime Minister Mark Carney has announced that Canada will provide funds to help the lumber industry prepare for tariffs. Reuters reports: Read more here. Starbucks under pressure again as Brazilian tariffs hike coffee costs Starbucks (SBUX) may soon hike prices on its pumpkin spice lattes and bottled Frappuccinos as it faces cost pressure from the 50% tariff on Brazilian coffee imports, which takes effect on Aug. 6. Yahoo Finance's Francisco Velasquez reports: Read more here. EU continues to press for tariff exemption on wine, spirits as part of US deal The EU is pushing for its wine and spirit exports to be exempt from US tariffs, while both sides work towards refining the deal they agreed last month. The WSJ reports: Read more here. Countries push for last-minute deals as Thursday tariff deadline looms Global importers are bracing for President Trump's next tariff deadline on Thursday morning, when the president's tiered approach to tariffs is expected to take effect. Yet some of the details around trade agreements remain fuzzy. Yahoo Finance's Ben Werschkul reports: Read more here. Trump's copper tariffs apply to $15B of products so far President Trump's copper (HG=F) tariffs are due to hit imports valued at more than $15B in 2024, highlighting the potential inflationary impact on American manufacturers. Trump's unveiling of 50% import duties rattled the global copper market last week, because the US president provided a surprise exemption to key forms of wiring metal. But it still leaves significant trade volumes subject to tariffs. Bloomberg News reports: Read more here. Trump threatens EU with increased tariffs if it doesn't meet investment pledge President Trump threatened to hike tariffs on the European Union back to 35% if the bloc fails to live up to a pledge to invest some $600 billion in the US. "A couple of countries came [and said], 'How come the EU is paying less than us?' And I said well, because they gave me $600 billion," Trump said during a CNBC interview. "And that's a gift, that's not like, you know, a loan," he said, claiming that the terms allow the US to direct where the EU invests. Trump says pharma duties could go to 250% President Trump said he would announce tariffs on semiconductor and pharmaceutical imports "within the next week or so." "We'll be putting a initially small tariff on pharmaceuticals, but in one year — one and a half years, maximum — it's going to go to 150%. And then it's going to go to 250%, because we want pharmaceuticals made in our country," Trump said during a CNBC interview. He said semiconductor and chip tariffs would be in a "different category." US tariff on EU goods set at flat 15% The EU said on Tuesday that European Union goods entering the US face a flat 15% tariff, including cars and car parts. The rate includes the Most Favoured Nation (MFN) tariff and won't exceed 15% even if the US raises tariffs on items like semiconductors and medicines. The EU said it still expects turbulence in its trade dealings with the US. Reuters reports: Read more here. Trump says he plans to set tariffs on computer chips at 100% President Trump said on Wednesday at a press conference with Apple CEO Tim Cook that he is planning to set a 100% tariff on semiconductor imports. Companies that pledge to invest in manufacturing in the US, however, will be exempt from the tariff. Reuters reports: Read more here. President Trump said on Wednesday at a press conference with Apple CEO Tim Cook that he is planning to set a 100% tariff on semiconductor imports. Companies that pledge to invest in manufacturing in the US, however, will be exempt from the tariff. Reuters reports: Read more here. Apple set to dodge bulk of India tariffs Yahoo Finance's Dan Howley reports: Apple CEO Tim Cook has arrived at the White House. He is scheduled to speak with President Trump this afternoon and unveil an additional $100 billion investment in US manufacturing, on top of the $500 billion commitment already pledged by the company. Yahoo Finance's Dan Howley reports: Apple CEO Tim Cook has arrived at the White House. He is scheduled to speak with President Trump this afternoon and unveil an additional $100 billion investment in US manufacturing, on top of the $500 billion commitment already pledged by the company. Modi's rival blasts 'bully' Trump as public opinion hardens Rahul Gandhi, Narendra Modi's most recognizable political rival, has come out to call President Trump a "bully" for his negotiation tactics. Bloomberg reports: Read more here. Rahul Gandhi, Narendra Modi's most recognizable political rival, has come out to call President Trump a "bully" for his negotiation tactics. Bloomberg reports: Read more here. Trump order lowering tariffs on EU autos still days away: source European automakers will have to hold on a little while longer before President Trump lowers auto tariffs as EU-US negotiations continue. Reuters reports: Read more here. European automakers will have to hold on a little while longer before President Trump lowers auto tariffs as EU-US negotiations continue. Reuters reports: Read more here. Alcohol groups say tariffs put $2B in sales and 25,000 jobs at risk In a letter to President Trump, a group comprising of 57 alcohol industry firms have said that Trump's tariffs of 15% on EU goods could reduce the value of alcohol sales by almost $2B and put 25,000 jobs at risk. Reuters reports: Read more here. In a letter to President Trump, a group comprising of 57 alcohol industry firms have said that Trump's tariffs of 15% on EU goods could reduce the value of alcohol sales by almost $2B and put 25,000 jobs at risk. Reuters reports: Read more here. Trump hits India with additional 25% tariff over Russia oil buys President Trump has hit India with an additional 25% tariff due to India's purchase of Russian oil. The US president threatened India with higher tariffs earlier this week, which India's Prime Minister Narendra Modi called "unjustified," also calling out the US for its double standard over Russia. In an interview with CNBC on Tuesday, Trump said that India was helping to fuel the war machine. 'They're fueling the war machine. And if they're going to do that, then I'm not going to be happy,' Trump said. In the early days of trade negotiations, relations between the US and India appeared more friendly, with both sides saying they would reach a deal within days. However, over recent months ,things seem to have turned sour as neither side can agree on some of the finer details within the deal, which concern dairy and agricultural products. As a result, a trade war seems to have developed between the two sides, and now with this additional 25% tariff gift from Trump to Modi, the two seem further away from reaching an agreement than ever before. President Trump has hit India with an additional 25% tariff due to India's purchase of Russian oil. The US president threatened India with higher tariffs earlier this week, which India's Prime Minister Narendra Modi called "unjustified," also calling out the US for its double standard over Russia. In an interview with CNBC on Tuesday, Trump said that India was helping to fuel the war machine. 'They're fueling the war machine. And if they're going to do that, then I'm not going to be happy,' Trump said. In the early days of trade negotiations, relations between the US and India appeared more friendly, with both sides saying they would reach a deal within days. However, over recent months ,things seem to have turned sour as neither side can agree on some of the finer details within the deal, which concern dairy and agricultural products. As a result, a trade war seems to have developed between the two sides, and now with this additional 25% tariff gift from Trump to Modi, the two seem further away from reaching an agreement than ever before. Carney says he'll look at opportunities to remove tariffs on US Canadian Prime Minister Mark Carney said that he will look to assess ways in which he can remove some counter-tariffs against the US. Carney's statement seems at odds with his earlier commitments to fight back against President Trump's trade war. Bloomberg News reports: Read more here. Canadian Prime Minister Mark Carney said that he will look to assess ways in which he can remove some counter-tariffs against the US. Carney's statement seems at odds with his earlier commitments to fight back against President Trump's trade war. Bloomberg News reports: Read more here. Trump says Japan to import Ford's huge F-150 pickup trucks President Trump said that Japan has agreed to accept imports of Ford's F-150 pick up trucks. This latest news is seen as a sign that the two sides may not be on the same page when it comes to their understanding of the trade agreement reached last month. Bloomberg News reports: Read more here. President Trump said that Japan has agreed to accept imports of Ford's F-150 pick up trucks. This latest news is seen as a sign that the two sides may not be on the same page when it comes to their understanding of the trade agreement reached last month. Bloomberg News reports: Read more here. US investments under trade deal will be determined by benefits for Tokyo: Japan Reuters reports: Read more here. Reuters reports: Read more here. Honda Q1 operating profit halves on tariffs Shares in Honda Motor (HMC) rose 2% premarket on Wednesday after the automaker reported a 50% drop in first-quarter operating profit. A stronger yen and the impact of President Trump's tariffs took their toll, but the company raised its full-year forecast. Reuters reports: Read more here. Shares in Honda Motor (HMC) rose 2% premarket on Wednesday after the automaker reported a 50% drop in first-quarter operating profit. A stronger yen and the impact of President Trump's tariffs took their toll, but the company raised its full-year forecast. Reuters reports: Read more here. China draws red lines on US chip tracking with Nvidia meeting China is pushing back against the US over chips despite their overall trade truce. Last week, Beijing summoned Nvidia (NVDA) staff over security concerns with H20 chips, signaling opposition to the US plans to track advanced semiconductors. Analysts view China's latest move as a warning that it will not allow the US to dominate the chip sector. Bloomberg News reports: Read more here. China is pushing back against the US over chips despite their overall trade truce. Last week, Beijing summoned Nvidia (NVDA) staff over security concerns with H20 chips, signaling opposition to the US plans to track advanced semiconductors. Analysts view China's latest move as a warning that it will not allow the US to dominate the chip sector. Bloomberg News reports: Read more here. Trump says he's readying more tariffs on Russian energy buyers Bloomberg News reports: Read more here. Bloomberg News reports: Read more here. Canada to help lumber industry cope with US tariffs: Carney Prime Minister Mark Carney has announced that Canada will provide funds to help the lumber industry prepare for tariffs. Reuters reports: Read more here. Prime Minister Mark Carney has announced that Canada will provide funds to help the lumber industry prepare for tariffs. Reuters reports: Read more here. Starbucks under pressure again as Brazilian tariffs hike coffee costs Starbucks (SBUX) may soon hike prices on its pumpkin spice lattes and bottled Frappuccinos as it faces cost pressure from the 50% tariff on Brazilian coffee imports, which takes effect on Aug. 6. Yahoo Finance's Francisco Velasquez reports: Read more here. Starbucks (SBUX) may soon hike prices on its pumpkin spice lattes and bottled Frappuccinos as it faces cost pressure from the 50% tariff on Brazilian coffee imports, which takes effect on Aug. 6. Yahoo Finance's Francisco Velasquez reports: Read more here. EU continues to press for tariff exemption on wine, spirits as part of US deal The EU is pushing for its wine and spirit exports to be exempt from US tariffs, while both sides work towards refining the deal they agreed last month. The WSJ reports: Read more here. The EU is pushing for its wine and spirit exports to be exempt from US tariffs, while both sides work towards refining the deal they agreed last month. The WSJ reports: Read more here. Countries push for last-minute deals as Thursday tariff deadline looms Global importers are bracing for President Trump's next tariff deadline on Thursday morning, when the president's tiered approach to tariffs is expected to take effect. Yet some of the details around trade agreements remain fuzzy. Yahoo Finance's Ben Werschkul reports: Read more here. Global importers are bracing for President Trump's next tariff deadline on Thursday morning, when the president's tiered approach to tariffs is expected to take effect. Yet some of the details around trade agreements remain fuzzy. Yahoo Finance's Ben Werschkul reports: Read more here. Trump's copper tariffs apply to $15B of products so far President Trump's copper (HG=F) tariffs are due to hit imports valued at more than $15B in 2024, highlighting the potential inflationary impact on American manufacturers. Trump's unveiling of 50% import duties rattled the global copper market last week, because the US president provided a surprise exemption to key forms of wiring metal. But it still leaves significant trade volumes subject to tariffs. Bloomberg News reports: Read more here. President Trump's copper (HG=F) tariffs are due to hit imports valued at more than $15B in 2024, highlighting the potential inflationary impact on American manufacturers. Trump's unveiling of 50% import duties rattled the global copper market last week, because the US president provided a surprise exemption to key forms of wiring metal. But it still leaves significant trade volumes subject to tariffs. Bloomberg News reports: Read more here. Trump threatens EU with increased tariffs if it doesn't meet investment pledge President Trump threatened to hike tariffs on the European Union back to 35% if the bloc fails to live up to a pledge to invest some $600 billion in the US. "A couple of countries came [and said], 'How come the EU is paying less than us?' And I said well, because they gave me $600 billion," Trump said during a CNBC interview. "And that's a gift, that's not like, you know, a loan," he said, claiming that the terms allow the US to direct where the EU invests. President Trump threatened to hike tariffs on the European Union back to 35% if the bloc fails to live up to a pledge to invest some $600 billion in the US. "A couple of countries came [and said], 'How come the EU is paying less than us?' And I said well, because they gave me $600 billion," Trump said during a CNBC interview. "And that's a gift, that's not like, you know, a loan," he said, claiming that the terms allow the US to direct where the EU invests. Trump says pharma duties could go to 250% President Trump said he would announce tariffs on semiconductor and pharmaceutical imports "within the next week or so." "We'll be putting a initially small tariff on pharmaceuticals, but in one year — one and a half years, maximum — it's going to go to 150%. And then it's going to go to 250%, because we want pharmaceuticals made in our country," Trump said during a CNBC interview. He said semiconductor and chip tariffs would be in a "different category." President Trump said he would announce tariffs on semiconductor and pharmaceutical imports "within the next week or so." "We'll be putting a initially small tariff on pharmaceuticals, but in one year — one and a half years, maximum — it's going to go to 150%. And then it's going to go to 250%, because we want pharmaceuticals made in our country," Trump said during a CNBC interview. He said semiconductor and chip tariffs would be in a "different category." US tariff on EU goods set at flat 15% The EU said on Tuesday that European Union goods entering the US face a flat 15% tariff, including cars and car parts. The rate includes the Most Favoured Nation (MFN) tariff and won't exceed 15% even if the US raises tariffs on items like semiconductors and medicines. The EU said it still expects turbulence in its trade dealings with the US. Reuters reports: Read more here. The EU said on Tuesday that European Union goods entering the US face a flat 15% tariff, including cars and car parts. The rate includes the Most Favoured Nation (MFN) tariff and won't exceed 15% even if the US raises tariffs on items like semiconductors and medicines. The EU said it still expects turbulence in its trade dealings with the US. Reuters reports: Read more here. 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Supreme Court could end race-based voting districts. Good. They're antiquated.
Supreme Court could end race-based voting districts. Good. They're antiquated.

USA Today

time11 minutes ago

  • USA Today

Supreme Court could end race-based voting districts. Good. They're antiquated.

Considering race inherently means discrimination in the sense that you believe skin color is an important factor in vote choice. A redistricting war between red and blue states has erupted in response to Texas' new proposed map, prompting Democrats nationwide to go on the offensive. This isn't the only reason redistricting is making headlines. The Supreme Court has indicated that it will be considering whether race-based districts are constitutional next term. The colorblind approach taken by the conservative justices on many other issues, such as college admissions and employment discrimination, indicates that they may be skeptical of race-based districting as well. The Supreme Court should strike down racial considerations in the districting process. Many states have interpreted the Voting Rights Act to mandate the creation of a specific number of majority-minority districts, which is in tension with the Supreme Court's precedents on the matter. It's unconstitutional to consider race when creating district maps In this case, Louisiana has adopted a new districting map, adding a second majority-Black district to the state. The state is being accused of violating the 14th Amendment. The Supreme Court has ordered briefing on, as the order phrased it, 'Whether the State's intentional creation of a second majority-minority congressional district violates the Fourteenth or Fifteenth Amendments to the U. S. Constitution.' Navigating race in the districting process poses a unique challenge. States cannot create districts based solely on race, for fear of violating the equal protection clause, but they also fear that they will run afoul of the Voting Rights Act if they take a colorblind approach. However, the Supreme Court may rule that all race-based considerations in districting are unconstitutional, alleviating the burden on states to navigate the narrow space left by these two forces. They would be justified in doing so. Opinion: I'm a Democrat who left Texas. New GOP maps will silence Latino voters. The Supreme Court has made it clear in recent cases that they are skeptical of any policy dealing with group characteristics rather than individuals. Justice Clarence Thomas has called the practice of race-based redistricting in response to general past discrimination 'utterly divorced from the sort of 'specific, identified instances of past discrimination' that this Court demands to justify a race-based remedy. Nor is a race-conscious approach reflective of modern times, compared with those at the time of the Voting Rights Act's passage in 1965. Multiple Supreme Court justices have lamented race-based remedial solutions that have no end point. Some have suggested that race-conscious practices can be employed to address specific injustices in their aftermath, but that such programs must have an end point. Six decades later, proponents of race-based considerations in the districting process would have these guidelines in place for eternity. It's understandable why explicit mandates based on race might have been a necessary evil in the 1960s, but the systematic discrimination that spurred the need for such requirements is now long in the past. Race-based districting makes no sense In Louisiana v. Callais, in particular, the facts are particularly egregious. In a desperate quest to create an additional majority minority district, Louisiana has created a monstrosity of a district, stretching across the majority of the state's width and height in order to group together as many Black people as possible. Situations like these demonstrate how overemphasis on race can lead to the neglect of other factors vital to districting, such as compactness and continuity. Opinion: Do you think the Supreme Court is partisan? Well you're wrong. Race should not prevail over other important considerations. A cluster of neighboring counties with similar regional struggles has more in common than two majority-Black cities on opposite sides of a state. Considering race inherently means discrimination in the sense that you believe skin color is an important factor in vote choice. It should go without saying, but explicit attempts to minimize the impact of minority voters in elections also run afoul of these principles as well. Opinion alerts: Get columns from your favorite columnists + expert analysis on top issues, delivered straight to your device through the USA TODAY app. Don't have the app? Download it for free from your app store. Race isn't any more important in districting considerations than any other characteristic that correlates with voting patterns. Districting based on race makes little more sense than grouping together people of a certain income level, education level, age range or any other group that can be thought of as having some form of collective interests. The assumption that minority groups themselves are a cohesive voting unit is one rooted in past trends, but in a misunderstanding of where the end point of racial progress ought to be. The goal of districting with regard to race is not that each racial group has its own unique form of representation; rather, it is that race, in the end, is no longer a meaningful differentiation in voting patterns. It is inevitably prejudiced to assume that race is a valuable determining factor in vote choice. There is little reason to believe that a White person put into the exact same upbringing as someone from any specific minority group would have any different voting tendencies. Race may correlate with vote patterns, but it tells you absolutely nothing valuable about an individual. Even if grouping individuals based on race is intended to achieve equal representation, it may run afoul of equal protection. Dace Potas is an opinion columnist for USA TODAY and a graduate of DePaul University with a degree in political science. You can read diverse opinions from our USA TODAY columnists and other writers on the Opinion front page, on X, formerly Twitter, @usatodayopinion and in our Opinion newsletter.

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