Europe seeks to end its Trumpian trade nightmare
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The Herald Scotland
an hour ago
- The Herald Scotland
Voters hate Medicaid cuts. Now Republicans are backpedaling
But many of those same Republicans in Congress are now openly fretting about President Donald Trump's signature One Big Beautiful Bill Act, which he signed into law on July 4. Some worry that it slashes Medicaid funding for the working poor. Some think it doesn't cut enough federal funding. And it adds $4 trillion to the national debt over the next decade. Call this "Vote yes and second-guess." That's not exactly the vibe Trump was looking for from his political party for what he had hoped would be a summer victory tour to celebrate this and other early accomplishments in his second term. But here, Trump - and his party in next year's midterm elections - have a serious problem. Americans don't like his massive budget bill, which swaps short-term tax relief for some low-income working people for permanent tax cuts for America's wealthiest people. That's only going to get worse as Americans see what programs Trump and his Republican allies have defunded and where they are boosting federal spending. Trump is dumping money into immigration policies Americans don't like Consider immigration, a signature issue for Trump, which previously won him significant support among American voters in 2016 and 2024. He's seen a reversal of fortunes here. That's probably because so many of us are watching masked Immigration and Customs Enforcement agents indiscriminately grabbing people off the street to be deported with little or no due process under the law. What Trump touted as an effort to deport violent criminals who entered this country illegally has devolved into an oppressive spectacle as ICE agents snatch people who hold green cards or appear at immigration hearings. Opinion newsletter: Sign up for our newsletter on people, power and policies in the time of Trump from columnist Chris Brennan. Get it delivered to your inbox. Trump's new budget bill includes $170 billion for more of that over the next four years, with $76.5 billion going to ICE to detain people snatched off our streets and to add 10,000 new agents to a force that already has 20,000. How is that going to play across America? Gallup offered us a clue with a mid-July survey that showed a sizable shift in how Americans view immigration. Opinion: Trump's policies on immigration, economy and trade are unpopular with Americans In 2024, 55% of Americans told Gallup they thought immigration should be decreased. That dropped to 30% this year, after they saw Trump's approach on the issue. And a record high - 79% - of U.S. adults told Gallup that immigration is good for this country. That same survey found that 62% of Americans disapprove of Trump's immigration policies. And he's about to drive this country deep into debt to ramp up an approach Americans don't like. Now Republicans want you to believe they're saving Medicaid Then there is the Republican regret. You get the feeling Republicans in Congress want to increase funding either for a time machine to undo their vote or a device to make voters forget how those senators and representatives supported Trump's big, beautiful bill. This game of both sides is as desperate as it is hypocritical. U.S. Sen. Josh Hawley of Missouri wrote an essay for The New York Times in May expressing concerns about how the bill will slash Medicaid for the working poor. Then he voted for Trump's budget. Now he says he's trying to undo some of the harm he supported with new legislation. U.S. Sen. Lisa Murkowski of Alaska expressed concerns before folding to support Trump's budget. Murkowski's shameless bid to spread the blame, by urging Republicans in the U.S. House not to endorse the bill she had just endorsed, of course, fell on its face. U.S. Rep. Lauren Boebert of Colorado touted her vote for Trump's budget in May. By late July, she was denouncing the government for not reducing the national debt. Opinion: MAGA is coming for Trump over lost Epstein files. Bondi may pay the price. U.S. Rep. Ted Cruz of Texas is among the legislators now calling to roll back the provision in Trump's budget that changes tax deductions for gamblers. Cruz's explanation for backtracking, according to NBC News: "Most Republicans didn't even know this was in the bill when they voted to pass it." Republicans are still spending our tax dollars recklessly Trump has assumed control of the Republican Party in Congress, where legislative leaders are careful to never act as an independent and coequal branch of government. They sing a song about making America great by cracking down on federal spending, while piling up the nation's debt. They're not spending less of your tax dollars. They're just making sure the super rich in America don't have to pay at the same rates as middle-class people. They're spending much, much more, just as Americans discover they like Trump's policies less and less every day. There's a cure for all this. It's called the 2026 midterm elections. Republicans in Congress are afraid of Trump. They really should be afraid of voters tossing them out of office for backing his budget. Follow USA TODAY columnist Chris Brennan on X, formerly known as Twitter: @ByChrisBrennan. Sign up for his weekly newsletter, Translating Politics, here.
The Herald Scotland
an hour ago
- The Herald Scotland
Trump's stunning 39% tariff give Swiss watches hard time
The Swiss government said it viewed the White House's new tariffs with "great regret." The Swiss Federal Council said it remained in contact with U.S. authorities about the tariffs and "continues to strive for a negotiated solution." Guitars, bagels and booze: How Canadians became reluctant warriors in Trump tariff fight Only Laos and Myanmar (also known as Burma), at 40%, and Syria, at 41%, fared worse than Switzerland in terms of Trump's fresh tariffs on their goods. The Alpine country now has until Aug. 7 to work out a trade deal with the United States or chocolate, jewellery and, yes, watches, will be subject to levies more than double the 15% rate for most European Union imports into the United States. Switzerland's pharmaceuticals sector was not included in the tariffs. Switzerland shipped about $63 billion of goods to the United States in 2024, according to the office of the United States Trade Representative. That's about one-sixth of its total exports. Going the other way, goods exported from the United States to Switzerland totaled an estimated $25 billion last year, a trade deficit of $38 billion. The U.S. was Switzerland's top market in 2024 for perhaps its most famous good: timepieces. They accounted for about 17% of exports, or about $5.4 billion, according to Federation of the Swiss Watch Industry. July jobs report: employers added 73,000 jobs; unemployment rises Still, for the Swiss watch, Trump's 39% tariffs may amount to bad timing. The industry has struggled with weak demand from China, the Federation of the Swiss Watch Industry says. The trade uncertainty unleashed by Trump's tariffs over the last few months has meanwhile boosted the value of the Swiss franc currency, making the nation's watches more expensive for tourists who buy them while on vacation. Over the last decade, some brands of Swiss watch have also lost out on market share to the Apple Watch. Overall, Swiss watch exports have been falling. They were down as much as 10% in May. More: Trump's new tariffs slam trading partners, U.S. stock market: Live updates Financial markets in Switzerland were closed for a national holiday on Aug. 1, giving respite to the shares prices of producers such as Richemont and Swatch Group. But Watches of Switzerland Group, a retailer that sells Rolex and other timepieces in the United Kingdom and the United States, saw its U.K.-listed share prices fall nearly 8%. Critics of tariffs argue that the additional costs of goods are typically passed to the consumer. Analysts at Jefferies Global Research and Strategy told Bloomberg that if the 39% tariff goes ahead for Switzerland, it could require price increases in the United States for Swiss watches of more than 20%.
The Herald Scotland
an hour ago
- The Herald Scotland
Trump said he ordered 2 nuclear subs moved after Russia nuclear threat
President Donald Trump said on Aug. 1 he ordered two nuclear submarines to "appropriate regions" in response to Russia's nuclear threats. "Based on the highly provocative statements" of Russian spokesperson Dmitry Medvedev, "I have ordered two Nuclear Submarines to be positioned in the appropriate regions, just in case these foolish and inflammatory statements are more than just that," Trump wrote on Truth Social. "Words are very important, and can often lead to unintended consequences, I hope this will not be one of those instances."
