June 8, 2025 - Trump presidency, Los Angeles protest news
• On the ground: Police have used flash-bangs and tear gas while dispersing crowds, with some hitting and pushing protesters while making arrests, CNN witnessed. Protesters set at least two self-driving cars on fire. All of Downtown Los Angeles has been declared an unlawful assembly area.
• Troop deployment: About 300 National Guardsmen are on the ground after President Donald Trump called them up to protect federal personnel and property. It's the first time a president has called in the National Guard without a state's request or consent in decades. Also prepared to deploy are 500 Marines.
• Trump vs Newsom: California Gov. Gavin Newsom said the state will file a lawsuit against the Trump administration over deployment of the National Guard, which he and LA Mayor Karen Bass have called inflammatory.
• Why are there protests? Authorities and demonstrators have clashed for days after dozens of people were detained by immigration agents. Intelligence analysts believe protesters are motivated by several factors, including immigration raids, deployment of the National Guard, and agitators who fit profiles of 'professional rioters.'
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CBS News
12 minutes ago
- CBS News
Trump says U.S. trade "deal with China is done," after tariff talks yield "framework deal"
London — President Trump declared on Wednesday morning that a U.S. trade "deal with China is done." The U.S. leader offered a few key details of a "framework deal" reached between senior U.S. and Chinese trade representatives in London on Tuesday, but he acknowledged that both he and Chinese President Xi Jinping were both yet to formally sign off on the agreement. The U.S. and Chinese trade teams wrapped up two days of marathon negotiations in London close to midnight on Tuesday, with the sides saying they had agreed on a new "framework deal" to ease the trade war between the world's two largest economies. The tension had only increased in recent weeks, despite an agreement reached in Geneva during a first round of talks in May to put the steepest retaliatory tariffs on hold. Those record-high tariffs are due to kick back in on July 9, unless the agreement struck in London is in fact formalized by Trump and Xi. In month since the Geneva talks, Beijing had cut its exports of critical rare earth elements to the U.S. by half compared to the previous year, and the Trump administration said it would "aggressively revoke" the visas of Chinese students in the U.S. who were found to be linked to the Chinese Communist party. While the announcement by Mr. Trump's top negotiators on Tuesday evening of an agreed framework was thin on details, the president said in a post on his own Truth Social media platform Wednesday morning that it was "done, subject to final approval with president Xi and me." He said the deal would see China maintain its current 10% tariffs on goods imported from the U.S., while the U.S. would keep 55% tariffs on Chinese imports. There was no immediate confirmation from China's government of any terms agreed to in the framework, or whether President Xi intended to sign off on the deal. In Geneva, Beijing and Washington agreed in May to put their unprecedented tariffs of more than 100% on each other's imports on hold for 90 days. That brought U.S. tariffs on Chinese imports down to their current level of 30% after they briefly soared to around 145%. Chinese tariffs currently stand at 10%, after hitting 125% before the Geneva round of talks. Speaking Tuesday, Vice Commerce Minister Li Chenggang, who took part in the talks in London, confirmed the agreement on a framework, "in principle." On Wednesday, China's state-run media said the delegations had "made new progress," but offered no details. "The framework deal puts meat on the bones of an agreement reached last month in Geneva to ease bilateral retaliatory tariffs," U.S. Commerce Secretary Howard Lutnick told reporters after the talks in London, which spanned six hours on Monday and then more than 12 hours into the evening on Tuesday. Lutnick said part of the objective of this week's second round of meetings was just to get "the negativity out" of the bilateral relationship, which had festered since the Geneva talks. "Now we can go forward to try to do positive trade, growing trade," he said. The U.S. wants China to resume and increase shipments of rare earths. The materials are vital to industries ranging from weapons and aerospace to electric vehicles and small consumer goods. On Wednesday, in his all-capital-letter social media post, Mr. Trump said under the agreement reached in London, "full magnets, and any necessary rare earths, will be supplied, up front, by China. Likewise, we will provide to China what was agreed to, including Chinese students using our colleges and universities." "Relationship is excellent!" added Mr. Trump. "At stake is the release of rare earths exports to U.S. manufacturers — stockpiles are dwindling fast — in exchange for aerospace parts and semiconductor programming technology to China," Carl Weinberg, chief economist at High Frequency Economics, told investors in a report. "A 'fail' would raise the risk of auto and aircraft production grinding to a halt as soon as next month. If that happens, economic growth will be severely dented for an unknown term."
Yahoo
13 minutes ago
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Musk apology to Trump could reopen path for renewed alliance says Dan Ives
-- Wedbush analyst Dan Ives said in a note Wednesday that Elon Musk's recent apology to President Donald Trump could reopen the path for a renewed alliance, which he views as a "smart move with [the] Robotaxi launch on deck." Musk posted on X, "I regret some of my posts about President Trump last week, They went too far." The Wedbush analyst believes this marks an "important step" in mending fences between the two. Ives feels the apology is crucial because "Musk needs Trump and Trump needs Musk." The firm has observed that the "former BFFs turn against each other has been an overhang on shares of Tesla (NASDAQ:TSLA)," as investors feared a "Trump in revenge mode will make it more difficult for an autonomous future with Tesla front and center." While not expecting a return to their "Mar-a-Lago connected at the hip days," Wedbush anticipates they will "slowly mend the fences" as Trump needs Musk to stay close to the Republican party, and Musk needs Trump for various reasons, including a "green light on a federal framework for autonomous." The timing of the reconciliation is considered notable as Tesla is set to launch its highly anticipated Robotaxi in Austin on June 22. Wedbush sees this as a "major endeavor for Musk and Tesla" and believes the "Trump feud is not getting in the way of this." The core focus for investors, according to Ives, is the "AI Revolution is now coming to Tesla," which will position Tesla as "one of the best pure plays on AI over the next decade" alongside companies like Nvidia (NASDAQ:NVDA) and Microsoft (NASDAQ:MSFT). Wedbush estimates the "AI and autonomous opportunity is worth at least $1 trillion alone for Tesla" and fully expects that "under a Trump White House, these key initiatives will get fast-tracked." They believe "Tesla could reach a $2 trillion market cap by the end of 2026 in a bull case scenario," as the "march to a $2 trillion valuation for TSLA has now begun." Related articles Musk apology to Trump could reopen path for renewed alliance says Dan Ives Ouster shares surge on Pentagon approval for lidar sensor Tesla gains as Musk says he regrets some Trump-related posts Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
Yahoo
14 minutes ago
- Yahoo
Tesla stock rises as Trump-Musk feud cools and robotaxi launch nears
Tesla stock rose marginally in pre-market trading on Wednesday after CEO Elon Musk extended an olive branch to US President Donald Trump following their public feud. Shares were up over 2% by around midday CEST, at $332.76 (€290.98) 'I regret some of my posts about President @realDonaldTrump last week. They went too far,' Musk said in a post on X on Wednesday. After spending millions backing Trump's successful presidential bid, Musk heavily criticised the Republicans' new tax and spending bill, creating a rift between the two men. Musk was previously appointed by Trump to lead DOGE, the US' Department of Government Efficiency. The tech billionaire argued that the new bill, dubbed by Trump as the 'One Big Beautiful Bill Act', would irresponsibly raise the public deficit and undermine DOGE's work. Musk resigned from the department in late May after saying he was 'disappointed' with spending proposals. In an escalation of the conflict last week, Musk called for Trump to be impeached and replaced with Vice President JD Vance. He also implied that Trump was linked with late sex offender Jeffrey Epstein, an allegation the White House denied. Related The 100 ways Elon Musk and his companies allegedly benefited from working with Donald Trump Tesla's European buyers turn away? Sales slide amid Musk's political controversy As for the president, Trump threatened to terminate government contracts awarded to Musk's SpaceX firm. On Monday, the president then took a more conciliatory tone. Trump said he wished Musk 'very well' and claimed that he would retain Starlink internet service at the White House. Even so, the US President suggested that he might remove his own Tesla from White House grounds. The value of Tesla shares have been rocked by volatility as investors track the dramas playing out in Washington — and some dump stock in protest of Musk's politics. Both Argus Research and Baird downgraded ratings for Tesla stock on Monday, which has seen its value drop by more than 19% since the start of the year. Aside from the Trump-Musk feud, experts noted that risks to Tesla include the expiration of EV credits, which could dampen demand. A $7,500 tax credit for an EV purchase is set to be fully eliminated by the end of 2026, although restrictions will be applied before this. For those wishing to use the credit in 2026, they can only buy from manufacturers that haven't yet sold 200,000 EVs. This would disqualify Tesla. Other challenges include increased competition in the EV market, particularly from Chinese rivals such as BYD. Despite these storm clouds ahead, Musk's enthusiasm about robotaxis appears to be inflating the stock's value. The CEO is currently hoping to roll out the self-driving taxi service in Austin, Texas, on 22 June. In a post on his X social media platform, Musk said the date could change because Tesla is 'being super paranoid about safety'. Sign in to access your portfolio
