'Who's actually running the country?': Fox Nation special goes inside Biden autopen scandal
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CNN
6 hours ago
- CNN
Trump vows more secondary sanctions for Russia oil buyers are coming, including potentially on China
Donald Trump Russia Asia ChinaFacebookTweetLink Follow US President Donald Trump warned Wednesday that more punishment was coming for countries buying Russian energy products after slapping a 25% tariff on India that is supposed to go into effect Thursday. 'You're going to see a lot more. So this is a taste,' he said in the Oval Office. 'You're going to see a lot more. You're going to see so much secondary sanctions.' The move is part of Trump's high-stakes effort to cripple Russia's economy over its war in Ukraine. He had set a Friday deadline for Russian President Vladimir Putin to make peace before imposing that economic punishment. Previous rounds of US sanctions, including under Trump's predecessor Joe Biden, knocked Russia's economy but have not stopped Putin's war machine. The strategy marks an escalation in Trump's use of tariffs, his signature second-term weapon. He has previously used them to pursue a sprawling agenda, from protecting US manufacturing to pressuring foreign governments on policy. These 'secondary tariffs,' however, are being used to force third-party nations into a choice: sever ties with a US adversary or risk further penalties. While Trump voiced optimism about progress made during a meeting Wednesday between Putin and US envoy Steve Witkoff, he suggested it wasn't enough to stave off the new sanctions. The top purchaser of Russian energy is China, with which Trump is working to negotiate a new trade deal. US officials have described significant progress on those talks. But Trump did not rule out applying the new secondary sanctions on Beijing, despite the potential for scuttling the trade discussions. 'One of them could be China,' he said. 'It may happen. I don't know. I can't tell you yet.' China previously said it will 'take energy supply measures that are right for China based in our national interests.' 'Tariff wars have no winners,' foreign ministry spokesperson Guo Jiakun said during a news briefing last week. 'Coercion and pressuring cannot solve problems. China will firmly safeguard its own sovereignty, security and development interests.' The US and China are still working to extend a trade truce that held back triple-digit tariffs, which is set to expire on August 12. China's exports accelerated before that looming deadline, beating expectations to grow 7.2% in July from a year earlier – a faster pace than June's 5.8%. Trump's secondary tariff threats have escalated tensions between Washington and another of its most important trading partners. The US president announced sweeping and substantial tariffs on India Wednesday, making the penalties imposed on the world's fifth-largest economy among the highest the US charges. In addition to a 25% tariff set to go into effect Thursday, Trump also announced a 25% tariff on India that will go into effect later this month as punishment for importing Russian oil and gas. India responded to Trump's tariff escalation, defending its purchases of Russian oil. 'We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India,' a statement from India's Ministry of External Affairs said. 'It is therefore extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest.'
Boston Globe
13 hours ago
- Boston Globe
Trump says he plans to put a 100% tariff on computer chips, likely pushing up cost of electronics
Inquiries sent to chip makers Nvidia and Intel were not immediately answered. Demand for computer chips has been climbing worldwide, with sales increasing 19.6 percent in the year-ended in June, according to the World Semiconductor Trade Statistics organization. Advertisement Trump's tariff threats mark a significant break from existing plans to revive computer chip production in the United States. He is choosing an approach that favors the proverbial stick over carrots in order to incentivize more production. Essentially, the president is betting that higher chip costs would force most companies to open factories domestically, despite the risk that tariffs could squeeze corporate profits and push up prices for mobile phones, TVs and refrigerators. By contrast, the bipartisan CHIPS and Science Act signed into law in 2022 by then-President Joe Biden provided more than $50 billion to support new computer chip plants, fund research and train workers for the industry. The mix of funding support, tax credits and other financial incentives were meant to draw in private investment, a strategy that Trump has vocally opposed. Advertisement
Associated Press
13 hours ago
- Associated Press
Trump administration reverses Biden approval of major wind farm in Idaho
SEATTLE (AP) — The Trump administration on Wednesday canceled a major wind farm development in Idaho, a project approved late in former President Joe Biden's term that had drawn criticism for its proximity to a historic site where Japanese Americans were incarcerated during World War II. The Bureau of Land Management in December signed off on a scaled-down plan for the Lava Ridge Wind Project northeast of Twin Falls, with 241 wind turbines instead of 400. But the development had been on hold since the first day of President Donald Trump's second term, when he issued an executive order halting the permitting of wind power projects across the country and telling the Interior Department to review the Lava Ridge decision. 'By reversing the Biden administration's thoughtless approval of the Lava Ridge Wind Project, we are protecting tens of thousands of acres from harmful wind policy while shielding the interests of rural Idaho communities,' Interior Secretary Doug Burgum said in a statement. 'This decisive action defends the American taxpayer, safeguards our land, and averts what would have been one of the largest, most irresponsible wind projects in the nation.' The project, five years in the works, faced opposition from local residents concerned about the height of the turbines — up to 660 feet (201 meters), or more than twice the height of the Statue of Liberty. It also drew concerns it would spoil views from the Minidoka National Historic Site, where thousands of Japanese Americans were imprisoned during World War II. Under the plan, the closest turbine to the historic site would have been 9 miles (14 kilometers) away. Robyn Achilles, executive director of the nonprofit Friends of Minidoka, said in a text message her organization was reviewing the announcement. 'We must protect Minidoka from future development, so we continue to seek long term protections for the BLM land in Minidoka's cultural viewshed,' Achilles wrote. The Interior Department's statement rescinding Lava Ridge's approval did not mention Minidoka. A spokeswoman for the company that proposed the development, Magic Valley Energy, did not immediately return messages seeking comment. The Bureau of Land Management said when it approved the project that it could power up to 500,000 homes and that its decision reflected 'a careful balance of clean energy development with the protection of natural, cultural, and socioeconomic resources on this historically significant landscape.' Onshore wind is one of the cheapest sources of electricity generation. New wind farms cost less to build and operate than new natural gas plants on average in most regions of the United States, even without tax credits. The Trump administration and congressional Republicans have targeted wind and solar projects as expensive and unreliable while taking steps to support the burning of fossil fuels, which is dangerously heating the planet. Renewable energies such as wind and solar provide an intermittent supply of electricity when it is windy or sunny. Increasingly, batteries are getting paired with solar and wind projects to allow renewables to replace fossil fuels like oil, gas and coal, while keeping a steady flow of power when sources such as wind and solar are not producing. The tax-and-spending legislation signed by Trump last month phases out tax credits and other subsidies for clean energy, and an executive order issued by Trump a few days later further restricts subsidies for what he calls 'the Green New Scam.' Since then, Burgum has issued a series of memos targeting wind and solar power, including a July 17 memo that requires his personal approval of all solar and wind energy projects on federal lands and waters. The order authorizes Burgum to conduct 'elevated review' of activities ranging from leases to rights of way, construction and operational plans, grants and biological opinions. The restrictions on clean-energy projects are aimed at 'ending preferential treatment for unreliable, subsidy-dependent wind and solar energy,' the Interior Department said in a statement. Late last month, Burgum canceled plans to use millions of acres of federal waters for new offshore wind development. And earlier this week, he issued a new secretarial order requiring that Interior agencies evaluating new wind and solar consider 'capacity density,' or how much area the projects cover. Commercial-scale solar and wind projects typically require a much greater amount of land and water than other energy sources such as oil and natural gas. 'This isn't oversight,' said Jason Grumet, CEO of the American Clean Power Association, which represents the renewable industry. 'It's obstruction that will needlessly harm the fastest growing sources of electric power.' ___ Matthew Daly in Washington and Jennifer McDermott in Providence, Rhode Island, contributed.
