LA Times Today: Those rebuilding after L.A. fires will likely face higher lumber prices as Trump tariffs loom
Just days before the Palisades and Eaton fires destroyed more than 12,000 homes, President Donald Trump repeated his threat of tariffs on Canadian imports – including lumber – which will be critical to Southern California's reconstruction.
How much could it cost us? Economics reporter Don Lee joined Lisa McRee with details.
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Yahoo
12 minutes ago
- Yahoo
Gas prices 'among the cheapest in nearly a decade' to start summer, analyst says
Canada's gas price average fell by 5.4 cents per litre of regular fuel this week, according to data from Kalibrate. The break from recent gains mirrors price action in the United States, where a leading analyst says rates at the pump are "among the cheapest in nearly a decade" when adjusting for inflation. The Canadian average price fell from $1.492 per litre to $1.438 between May 22 and May 29, led by declines in Vancouver, Kelowna, B.C., and Sarnia, Ont. At this time last year, the national average price was $1.688. The U.S. Memorial Day holiday is considered the unofficial start to the summer driving season in North America. Patrick De Haan, head of petroleum analysis at GasBuddy, says while prices did not fall as much as expected, the holiday was still one of the most affordable for drivers since 2021. "When adjusted for inflation, [it was] among the cheapest in nearly a decade,' he wrote in a blog post. 'As we move into the heart of summer, I believe we're likely to see a relatively stable stretch for gas prices as refinery maintenance wraps up." De Haan sees OPEC+ production commentary and growing uncertainty around the looming hurricane season in the U.S. Gulf region shaping prices in the weeks ahead. According to a report from Reuters, OPEC+ members may discuss a larger output increase in July compared to gains prior months at its meeting on Saturday. The potential additional supply could weigh on benchmark oil prices. Follow Yahoo Finance Canada for more weekly gas price updates. Scroll below to find your nearest city. (All figures in CAD cents) Location May. 22 May 29 Price Change Canada Average (V) 149.2 143.8 -5.4 WHITEHORSE 161.9 161.9 0 VANCOUVER* 183 167 -16 VICTORIA 176.2 181.5 5.3 PRINCE GEORGE 136.2 140.9 4.7 KAMLOOPS 150 152.9 2.9 KELOWNA 152.7 142.6 -10.1 FORT ST. JOHN 149.9 145.4 -4.5 ABBOTSFORD 172.4 160.8 -11.6 YELLOWKNIFE 144.7 134.9 -9.8 CALGARY* 137.2 131 -6.2 RED DEER 134.3 134.5 0.2 EDMONTON 134.9 130.7 -4.2 LETHBRIDGE 124.7 124.6 -0.1 LLOYDMINSTER 130.6 133.5 2.9 GRANDE PRAIRIE 131.1 137.9 6.8 REGINA* 134.9 134.8 -0.1 SASKATOON 135.6 135.6 0 PRINCE ALBERT 132.2 132.3 0.1 MOOSE JAW 135.7 135.7 0 WINNIPEG * 134.1 131.7 -2.4 BRANDON 127.6 131.7 4.1 CITY OF TORONTO* 139.4 135.4 -4 BRAMPTON 139.1 134.9 -4.2 ETOBICOKE 138.9 134.9 -4 MISSISSAUGA 138.8 134.1 -4.7 NORTH YORK 139.6 135.5 -4.1 SCARBOROUGH 139.4 135 -4.4 VAUGHAN/MARKHAM 139.3 135.1 -4.2 OTTAWA 138.9 133.2 -5.7 KINGSTON 132.6 128.8 -3.8 PETERBOROUGH 131.1 126.8 -4.3 WINDSOR 138.3 133.1 -5.2 LONDON 139.7 135.5 -4.2 SUDBURY 136.7 138.8 2.1 SAULT STE MARIE 128.3 128.3 0 THUNDER BAY 138.8 138.3 -0.5 NORTH BAY 131.4 136.8 5.4 TIMMINS 146.9 144.7 -2.2 HAMILTON 136.2 131.8 -4.4 ST. CATHARINES 135.9 129.8 -6.1 BARRIE 138.7 134.5 -4.2 BRANTFORD 132.8 128.4 -4.4 GUELPH 138.2 134.8 -3.4 KITCHENER 137.4 133.6 -3.8 OSHAWA 138.6 134.4 -4.2 SARNIA 134.8 124.4 -10.4 MONTRÉAL* 163.6 159.3 -4.3 QUÉBEC 156 155.3 -0.7 SHERBROOKE 152.8 152.3 -0.5 GASPÉ 157.6 157.4 -0.2 CHICOUTIMI 147 145.5 -1.5 RIMOUSKI 151.4 151.4 0 TROIS RIVIÈRES 154.6 151.8 -2.8 DRUMMONDVILLE 152.3 150.8 -1.5 VAL D'OR 159.6 159.6 0 GATINEAU 144.7 143.2 -1.5 SAINT JOHN* 143 144.2 1.2 FREDERICTON 144.7 145 0.3 MONCTON 143.8 144.4 0.6 BATHURST 143.5 142.3 -1.2 EDMUNDSTON 142.6 144 1.4 MIRAMICHI 144.9 146.2 1.3 CAMPBELLTON 143.1 146.3 3.2 SUSSEX 143.3 143.7 0.4 WOODSTOCK 144.8 146.2 1.4 HALIFAX* 145 145 0 SYDNEY 146.9 146.9 0 YARMOUTH 146 146 0 TRURO 146.1 146.1 0 KENTVILLE 145.5 145.5 0 NEW GLASGOW 146.1 146.1 0 CHARLOTTETOWN* 151.9 150.8 -1.1 ST JOHNS* 151.9 153.5 1.6 GANDER 155.7 157.3 1.6 LABRADOR CITY 159.1 160 0.9 CORNER BROOK 152.8 154.6 1.8 GRAND FALLS 155.7 157.3 1.6 SOURCE: KALIBRATE • All figures in CAD cents (*) Denotes markets used in Volume Weighted Canada Average Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Newsweek
13 minutes ago
- Newsweek
Donald Trump's Approval Rating Surges Among Millennials
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. President Donald Trump's approval rating among millennials has surged, according to a new poll. The latest YouGov/Yahoo poll, conducted May 22-27 among 1,560 adults, shows that Trump's job approval among 30- to 44-year-olds is at 41 percent, up from 33 percent in April. Disapproval is down to 51 percent from 59 percent in April. The poll had a margin of error of plus or minus 3.2 percentage points. Why It Matters Millennials, typically defined as born between 1981 and 1996, represent the largest bloc of the U.S. electorate. Trump reduced the Democrats' lead among voters aged 30 to 44 by 9 points between 2020 and 2024, from 12 points to 3. However, since the beginning of his second term, polls have shown signs of waning support for Trump among millennials. But the new poll shows his approval rating among this demographic may be creeping up again. For Trump, a rebound in support from voters age 29 to 44 could help stabilize his approval ratings at a time when he has faced discontent over issues such as immigration and the economy. While millennials have historically leaned Democratic, even a modest uptick in support during his second term could strengthen his political leverage and influence the landscape for the 2026 midterms and beyond. President Donald Trump speaks in the Oval Office of the White House on May 28, 2025, in Washington. President Donald Trump speaks in the Oval Office of the White House on May 28, 2025, in Washington. Evan Vucci/AP What To Know The boost for Trump comes as more millennials now say the country is headed in the right direction. According to the poll, 32 percent are optimistic about the direction of the country, up from 26 percent. Trump's approval ratings have generally been ticking up in recent weeks after a period of decline following the introduction of his "Liberation Day" tariffs in April. The policy move rattled markets, prompting a sharp sell-off before an eventual recovery and a pause on the tariffs by the Trump administration. Since then, economic anxiety has died down. Consumer confidence saw a surprising increase in May. The Conference Board reported a rise to 98.0, much higher than both the expected 87.1 and April's 86.0 reading. It was the biggest one-month jump in more than a year. At the same time, Trump's general approval ratings are on the rebound. Newsweek's tracker currently shows that 46 percent approve of Trump's job performance, while 51 percent disapprove. Earlier this month, his approval rating stood at 44 percent, while his disapproval rate was firmly in the 50s. Other polls have shown the same trend. The latest Insider Advantage poll, conducted May 17-19 among 1,000 likely voters, gave Trump a net approval rating of +11 points, with 55 percent approving and 44 percent disapproving. That was up from a net approval rating of +2 points in early May, when 46 percent approved and 44 percent disapproved. Poll Date Approve Disapprove Rasmussen May 29 52 47 YouGov/Economist May 23-26 44 52 Morning Consult May 23-25 48 50 YouGov/Yahoo May 22-27 41 54 Quantus May 18-20 48 48 Civiqs May 17-20 47 52 American Research Group May 17-20 41 55 Insider Advantage May 17-19 55 44 Reuters/Ipsos May 16-18 42 52 Navigator Research May 15-18 44 54 However, the overarching trend in the polls is one of stability, with some showing that his ratings have not substantially changed beyond a 1- or 2-point dip—within the margin of error—or have not changed at all. That includes the most recent Navigator Research poll, conducted May 15-18 among 1,376 registered voters which showed Trump's approval rating at 44 percent, while 54 percent disapprove. That is unchanged from April. Similarly, in Quantus' latest poll, conducted May 18-20, Trump's approval rating stood at 48 percent, while 48 percent disapproved. That is unchanged from a poll conducted earlier in May, and an April poll also showed his approval rating stood at 48 percent, while his disapproval rating at 50 percent. Marquette's most recent poll also showed his approval rating unchanged from March, while an American Research Group poll, conducted March 17-20 among 1,100 adults, put Trump's approval rating at 41 percent, down just 2 points from April. His disapproval grew from 53 percent to 55 percent. And the latest Civiqs poll, conducted May 17-20 among 1,018 registered voters, put Trump's approval up by 1 point, and his disapproval down by 1 point. The same trend occurred in the latest YouGov/Economist poll, conducted May 23-26 among 1,660 adults, which put his approval at 44 percent and disapproval at 52 percent. The latest YouGov/Yahoo poll put Trump's approval down 1 point to 41 percent and his disapproval up 1 point to 54 percent. In Morning Consult's latest survey, conducted May 23-25 among 2,237 registered voters, Trump's approval rating was unchanged at 48 percent while his disapproval was up 1 point to 51 percent. What Happens Next Trump's approval rating among millennials could fluctuate in the coming weeks, depending on the outcome of key events, including critical negotiations in the Russia-Ukraine war, the evolving tariff situation and concerns about a recession.
Yahoo
17 minutes ago
- Yahoo
Courts to Trump: You can't teach old laws new tricks
It's become a familiar cycle: Donald Trump dusts off a long-settled law, reinterprets it and attempts to wield it in unprecedented, far-reaching ways. The courts slam the brakes, saying the president's creative reimagining is just plain illegal. It happened again this week — with an exclamation point — when two federal courts invalidated the central plank of Trump's economic agenda: a slate of emergency tariffs that spurred uncertainty across the globe. Both courts found that Trump severely exceeded his authority when he invoked a 1977 law as the legal basis for the tariffs. That law, the International Emergency Economic Powers Act, permits the president to impose tariffs on an emergency basis — but only in limited circumstances and for limited purposes. In the words of one judge, Trump broke with 'five decades' of practice by presidents who never claimed the power that Trump says IEEPA gives him. Both court rulings are on hold for now while the administration appeals. But they point to a broader strategy Trump has used in his effort to swiftly enact his second-term agenda: He repurposes old or obscure statutes, especially those that give presidents special powers during times of war or other national crises. Beyond the realm of tariffs, he's used the same playbook to try to supercharge his deportation program and to try to kneecap public-employee labor unions. One problem for Trump, though, is that courts are increasingly skeptical of Trump's claims about the supposed emergencies or national-security exigencies that he has claimed as justifications for deploying these seldom-used statutes. The White House insists it's the judges — not the president — who have gone rogue, routinely referring to courts that rule against the administration as activist or politically motivated. The roster of these purported wayward jurists includes judges appointed by every president since Ronald Reagan, including by Trump himself. 'There is a troubling and dangerous trend of unelected judges inserting themselves in the presidential decision-making process,' White House press secretary Karoline Leavitt said during a press briefing Thursday. Others point out that the administration is relying on laws that have been used by presidents of the past — albeit in more limited ways that did pass muster in the courts. Trump's boldest attempt to exploit an old law for his own purposes is his invocation of the Alien Enemies Act of 1798. The founding generation enacted that law to help repel 'invasions' or 'predatory incursions' perpetrated by rival governments. At the time, a war with France loomed. And for more than two centuries, presidents invoked the law only three times: during the War of 1812 against British subjects, World War I against German immigrants and World War II against nationals of Japan, Germany, Italy and several other countries. Then, in March, Trump tried to wield it against alleged members of Tren de Aragua, a Venezuelan gang, so that he could deport them with little or no due process. The strategy immediately strained the definitions of 'invasion' and 'predatory incursion' envisioned by the framers. The courts noticed. 'There is nothing in the AEA that justifies a finding that refugees migrating from Venezuela, or TdA gangsters who infiltrate the migrants, are engaged in an 'invasion' or 'predatory incursion,'' U.S. District Judge Alvin Hellerstein ruled earlier this month. 'They do not seek to occupy territory, to oust American jurisdiction from any territory, or to ravage territory.' Hellerstein's ruling echoed similar decisions by judges in Colorado and Texas, who said Trump's reinterpretation of the old law exceeded his legal power. One judge, however, sided with Trump on that central question: U.S. District Judge Stephanie Haines, a Trump appointee from Pennsylvania, concluded that 'while the 'meaning' of a statute is fixed at its enactment, new 'applications' may arise in light of changes in the world.' She said the founders might have viewed foreign terrorist groups — the label Trump has given TdA — as capable of committing a 'predatory incursion.' In his bid to root out undocumented immigrants and criminalize their presence, Trump has also dusted off an 85-year-old statute aimed at requiring all immigrants in the country for more than 30 days — regardless of their legal status — to register with the federal government. The law, known as the Alien Registration Act, was passed shortly before the U.S. entered World War II. Its purpose was to discover foreigners who advocated for overthrowing the government, and it was later used against suspected communists. But it fell into disuse for decades — until Trump, in an executive order, instructed the Department of Homeland Security to issue new guidance and start enforcing the registration requirement. A federal judge in Washington, D.C. swept aside a challenge to this effort on procedural grounds. But a magistrate judge in Louisiana dismissed the first charges brought by the Trump administration under this statute, saying prosecutors had failed to show that the five targeted defendants were even aware of the requirement to register. The magistrate judge noted that the requirement, which was last reaffirmed by Congress in the 1950s, 'was essentially defunct and abandoned for the past 70 years.' The Trump administration is appealing the decision to a district court judge. Secretary of State Marco Rubio invoked yet another obscure statutory provision to target another group of immigrants: foreign-born pro-Palestinian academics at American universities. Rubio has used the provision to revoke the legal status of several prominent students and professors. The provision, adopted during a 1990 overhaul of immigration laws, gives the secretary of State the power to initiate the deportation of any immigrant if the secretary determines that the immigrant's presence could cause 'potentially serious adverse foreign policy consequences.' The provision has been used just a handful of times since, and nearly always in cases that involved serious allegations of terrorism or subversive activities in the targets' home countries. Rubio, on the other hand, has deployed the provision to target campus activists who participated in anti-Israel protests. Rubio's letter revoking green cards or visas for Mahmoud Khalil, Mohsen Mahdawi, Rumeysa Ozturk and other people studying in the United States indicated that their conduct had been legal but that their continued presence and activities in the United States nevertheless 'would compromise a compelling U.S. foreign policy interest.' Federal judges who have weighed in on the effort have said Rubio's use of the provision appears to run afoul of the Constitution, punishing foreign students and academics for exercising free speech rights. The judge presiding over the case of Khalil, a recent Columbia University graduate student facing deportation, went further, noting this week that the provision used by Rubio was rooted almost entirely in concerns about people whose 'relevant conduct took place entirely abroad.' 'The legislative and enforcement history do not suggest … that removal might be sought in these circumstances,' U.S. District Judge Michael Farbiarz wrote. 'Rather, they underscore that a … removal of the kind at issue here is unprecedented.' Trump has also dredged up a rarely used power in federal labor law to try to strip most federal employees of collective-bargaining rights. The Civil Service Reform Act of 1978 gives the president the ability to exclude federal agencies from unionization rights if he determines that the agencies are primarily engaged in national-security work. Trump designated dozens of agencies and subdivisions — including the Departments of Agriculture, Health and Human Services, Justice and Veterans Affairs — as focused on national security. His directive threatens to remove collective bargaining from an estimated two-thirds of the federal workforce. U.S. District Judge Paul Friedman blocked Trump's move. 'The President's interpretation of 'national security' exceeds the scope of the meaning intended by Congress,' Friedman wrote. A panel of a federal appeals court, however, has put Friedman's ruling on hold while the administration appeals.
