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Trump On Eve Of His Putin Summit: 'It's Like Chess' - CNN NewsNight with Abby Phillip - Podcast on CNN Podcasts

Trump On Eve Of His Putin Summit: 'It's Like Chess' - CNN NewsNight with Abby Phillip - Podcast on CNN Podcasts

CNNa day ago
Trump On Eve Of His Putin Summit: 'It's Like Chess' CNN NewsNight with Abby Phillip 44 mins
On the eve of his face-to-face with Vladimir Putin, is Donald Trump being bold or naive? Plus, the fluctuating economy takes a concerning turn. Also, the feds crash Gavin Newsom's event as schools spend their first day setting up safe zones against ICE.
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Trump says no imminent plans to penalize China for buying Russian oil
Trump says no imminent plans to penalize China for buying Russian oil

CNBC

time11 minutes ago

  • CNBC

Trump says no imminent plans to penalize China for buying Russian oil

U.S. President Donald Trump said on Friday he did not immediately need to consider retaliatory tariffs on countries such as China for buying Russian oil but might have to "in two or three weeks." Trump has threatened sanctions on Moscow and secondary sanctions on countries that buy its oil if no moves are made to end the war in Ukraine. China and India are the top two buyers of Russian oil. The president last week imposed an additional 25% tariff on Indian goods, citing its continued imports of Russian oil. However, Trump has not taken similar action against China. He was asked by Fox News' Sean Hannity if he was now considering such action against Beijing after he and Russian President Vladimir Putin failed to produce an agreement to resolve or pause Moscow's war in Ukraine. "Well, because of what happened today, I think I don't have to think about that," Trump said after his summit with Putin in Alaska. "Now, I may have to think about it in two weeks or three weeks or something, but we don't have to think about that right now. I think, you know, the meeting went very well." Chinese President Xi Jinping's slowing economy will suffer if Trump follows through on a promise to ramp up Russia-related sanctions and tariffs. Xi and Trump are working on a trade deal that could lower tensions - and import taxes - between the world's two biggest economies. But China could be the biggest remaining target, outside of Russia, if Trump ramps up punitive measures.

Idaho Gov. Brad Little orders budget cuts amid tax breaks, revenue shortfall
Idaho Gov. Brad Little orders budget cuts amid tax breaks, revenue shortfall

Yahoo

time28 minutes ago

  • Yahoo

Idaho Gov. Brad Little orders budget cuts amid tax breaks, revenue shortfall

Idaho Gov. Brad Little on Friday signed an executive order requiring all state agencies other than public schools to cut spending, he announced in a news release. It was the first time since 2020 such cuts have been ordered, according to the Governor's Office. The order cited the need to cut spending after Idaho lawmakers reduced income and property taxes by over 20%. The Governor's Office said the state must 'make way' for the tax cuts in President Donald Trump's 'Big Beautiful Bill.' State agencies, including the Idaho State Police, Department of Correction and Department of Health and Welfare — which administers Medicaid — must reduce their general fund spending by 3% for the 2026 fiscal year, which began in July. They can consider consolidating services or agencies, eliminating vacant positions, cutting back on contract costs, and reviewing unused funds that are 'not critical' to operations, according to the order. 'Idaho will right-size government to match the means of Idahoans,' the order read. In the news release about the order, the Governor's Office celebrated Idaho's strong and rapidly growing economy. The Idaho Legislature this year made 'unprecedented' investments in school facilities, teacher pay and literacy, 'demonstrating we can have it all,' Little wrote in the order. 'We can simultaneously cut taxes while meeting the needs of a growing state.' Idaho Democrats pushed back on that framing. Senate Minority Leader Melissa Wintrow, D-Boise, in a Friday news release said 'no amount of spin can hide the truth.' 'If Idaho's fiscal health were truly as strong as Republicans claim, there would be no need to strip funding mid-year,' Wintrow said. 'Ending this wasteful scheme will not close the hundreds of millions of dollars in budget shortfalls created by Republican giveaways.' Idaho Democrats also pointed the finger at the GOP's passage of laws that cost more money, such as allowing public funding for private school tuition. Lauren Necochea, the party's chair, in another news release said the program blew 'a hole in the budget' and called the cuts 'the bill coming due for reckless Republican rule.' 'We were honest with Idahoans about where this budget was headed,' she said. 'Back in the spring, Democrats warned that Statehouse Republicans were budgeting dishonestly while the Trump regime was driving up costs and undermining our economy. The GOP ignored these warnings, and now Idaho families are paying the price.' Though it expressed appreciation for Little's exclusion of public schools from the cuts, the Idaho Education Association in a release called them 'very unfortunate and completely predictable.' 'The Idaho Legislature's massive tax cuts easily foretold this outcome, even as lawmakers dismissed the needs of basic governing and Idaho's most vulnerable residents,' President Layne McInelly wrote. 'Idaho Education Association members believe Gov. Little is right to spare Idaho's public school students and classrooms from even more fiscal austerity while lawmakers write checks to the wealthy.' In recent months, state revenues came in below forecasts set by the Legislature. Little in February told reporters he worried that lawmakers' proposals to cut taxes were beyond what the state could afford. The Legislature cut taxes by $400 million and spent another $50 million on a tax credit for private education. Those bills, which Little signed into law, reduced revenue available for the state budget by about $453 million, the Idaho Capital Sun reported. In his January State of the State address, Little called for a reduction of the fund by $100 million — less than a quarter of the Legislature's amount. 'If I would have thought we could do $450 (million), I would have proposed $450 (million),' Little said of the hundreds of millions more that lawmakers aim to return to taxpayers. On Friday, Democrats called for a special legislative session to repeal the tax credit program, often referred to as school vouchers. 'It is an essential first step toward restoring fiscal responsibility,' Wintrow said in the release. Idaho continues its 'historic' tax cuts. Here's what residents can expect What will Trump administration cuts mean for Idaho? Gov. Little predicts 'economic shock' Solve the daily Crossword

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