logo
Trump Claims Victory Over Canada, Mexico After Getting … Basically Nothing

Trump Claims Victory Over Canada, Mexico After Getting … Basically Nothing

Yahoo04-02-2025

Donald Trump has temporarily delayed the implementation of tariffs against Mexico and Canada after speaking to the leaders of both nations on Monday. The president made a show of detailing the supposed concessions made by the neighboring nations in order to gain his mercy — but most of the agreements were already in place before this weekend's trade dispute.
Trump wrote on Truth Social that Mexico had 'agreed to immediately supply 10,000 Mexican Soldiers on the Border separating Mexico and the United States,' and that Canada will 'implement their $1.3 Billion Border plan,' as well as place 'nearly 10,000 personnel' on the border, 'appoint a Fentanyl Czar, […] list cartels as terrorists, ensure 24/7 eyes on the Border, [and] launch a Canada-U.S. Joint Strike Force to combat organized crime, fentanyl and money laundering.'
None of this is particularly new, and most of the agreements that supposedly inspired the tariff delay were already in place. Canada touted the placement of 8,500 border enforcement personnel in December 2024. The $1.3 billion border plan touted by Trump was also announced in December, more than a month before he assumed office. Canadian Prime Minister Justin Trudeau wrote on Tuesday that nearly 10,000 personnel 'are and will be' working on the border, indicating that nothing is new here.
Mexico managed to gain its own win from their dealings with Trump. President Claudia Sheinbaum agreed to deploy 10,000 troops to the border if the U.S. agreed to crack down on the smuggling of guns and other weaponry into Mexico. The Mexican government doesn't have to do much to uphold its end of the bargain, however, as it already has over 15,000 troops along the border, as of 2019.
In a statement posted Sunday, Sheinbaum took the White House to task for portraying Mexico as a lawless criminal state while ignoring their own role in fomenting cartel violence. The Mexican president noted that, according to ATF statistics, 74 percent of the firearms recovered from Mexican cartels in Mexico originated from the United States military industrial complex. Sheinbaum also noted that while Mexico had partnered with the U.S. to decrease the trafficking of fentanyl into the United States, the U.S. has failed to treat their own long standing domestic addiction epidemic. 'Mexico doesn't want a confrontation,' she said. 'If the United States wants to fight criminal groups and wants us to do it together, we must work in an integrated manner but always under the principles of shared responsibility, mutual trust, collaboration and, above all, respect for sovereignty.'
'Sovereignty is not negotiable. Coordination yes, subordination no,' Sheinbaum added.
Critically, neither country made concessions to Trump on Monday regarding their trade balance — a condition Trump laid out as a requirement in order to prevent the 25 percent tariff from going into effect. 'They have to balance out their trade, No. 1,' the president said Sunday. Trump has long touted tariffs as a way to prevent other nations from ripping America off economically, but this didn't seem to be an issue on Monday.
Republicans and the Trump administration have long touted Trump as an expert dealmaker, capable of giving his adversaries the runaround with little effort. In light of the brief trade dispute, conservative media hailed Trump as a conquering victor over America's North American neighbors. 'Canada is bending the knee, just like Mexico,' said White House Press Secretary Karoline Leavitt.
Rep. Warren Davidson (R-Ohio) struggled to defend Trump's deal with Canada and Mexico as a win for the president during an interview on CNN later in the day.
'Is there a tangible concession in your view?' host Kaitlan Collins asked.
'Yeah, absolutely,' Davidson replied, noting the supposed 'commitment from Trudeau that wasn't there to help with fentanyl.'
Collins pointed out that that plan had actually been announced 'six weeks ago.'
'Well, at least he's reiterated it,' Davidson demured.
The tactic by Trump is obvious: work nations and investors into a frenzy over a potential trade dispute that would actively harm Americans, only to swoop in at the last moment and cast himself as a master negotiator and savior of the populace.
More from Rolling Stone
Trump Drains California's Most Precious Resource for a Photo Op
Trupa Trupa's 'Mourners' Is a Song for This Moment
Late-Night Hosts Take Aim at Trump's Tariffs: 'So Many Stupidly Bad Things'
Best of Rolling Stone
The Useful Idiots New Guide to the Most Stoned Moments of the 2020 Presidential Campaign
Anatomy of a Fake News Scandal
The Radical Crusade of Mike Pence

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

US stock futures lower amid Israel-Iran conflict
US stock futures lower amid Israel-Iran conflict

Yahoo

time22 minutes ago

  • Yahoo

US stock futures lower amid Israel-Iran conflict

U.S. stock futures are lower after President Donald Trump abruptly left the Group of Seven summit in Canada. Trump had earlier urged everyone to immediately evacuate Tehran and reiterated that Iran should have signed a nuclear deal with the United States. Separately, a U.S. official said Trump would not sign a draft statement calling for de-escalation of the Israel-Iran conflict. Meanwhile, Israel is determined to continue its assault on Iran despite reports saying Iran wants to reopen nuclear talks. 'We're going to go about our operation to remove these two threats,' Israeli Strategic Affairs Minister Ron Dermer, referring to Iran's missile and nuclear programs, in a Bloomberg TV interview. 'Whether Iran will decide to meet with the United States and agree to terms that they should have taken a month ago, or two weeks ago, or two months ago, you know, that's up to Iran to decide.' At 6:15 a.m. ET, futures based on the blue-chip Dow fell-0.58%, while broad S&P 500 futures dropped -0.54% and tech-laden Nasdaq slipped -0.56%. Oil prices rose. May's retail sales data are due before the market opens. Economists surveyed by FactSet forecast a decline of 0.7% in total sales in May from April after a gain of just 0.1% in the prior month. However, the main event this week will be the Federal Reserve's rate policy decision due midweek. Almost everyone expects central bank policymakers to hold rates at their current target range of 4.25% to 4.50%, according to the CME FedWatch tool. Along with the Fed's policy announcement, central bankers will release their forecasts for economic growth, unemployment and inflation. Most economists expect the Fed's projections to show higher inflation in the second part of the year, a fairly low unemployment rate and slower economic growth. JPMorgan Chase, the country's biggest bank, has applied for a trademark related to digital currency with the United States Patent and Trademark Office (USPTO), leading to speculation the application for 'JPMD' means the bank is preparing to launch its own stablecoin. Stablecoins are digital assets designed to maintain a value in line with the U.S. dollar. TJPMorgan Chase filed the application on June 15, according to the USPTO's website. The application listed 'JPMD' as a good or service that would provide 'trading, exchange, transfer and payment services for digital assets,' among other categories related to cryptocurrencies and blockchain technology. Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday. This article originally appeared on USA TODAY: US stock futures lower amid Israel-Iran conflict 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

Senate expected to pass crypto bill without addressing Trump's investments
Senate expected to pass crypto bill without addressing Trump's investments

The Hill

time22 minutes ago

  • The Hill

Senate expected to pass crypto bill without addressing Trump's investments

WASHINGTON (AP) — The Senate is expected to approve legislation Tuesday that would regulate a form of cryptocurrency known as stablecoins, the first of what is expected to be a wave of crypto legislation from Congress that the industry hopes will bolster its legitimacy and reassure consumers. The fast-moving legislation, which will be sent to the House for potential revisions, comes on the heels of a 2024 campaign cycle where the crypto industry ranked among the top political spenders in the country, underscoring its growing influence in Washington and beyond. Eighteen Democratic senators have shown support for the legislation as it has advanced, siding with the Republican majority in the 53-47 Senate. If passed, it would become the second major bipartisan bill to advance through the Senate this year, following the Laken Riley Act on immigration enforcement in January. Still, most Democrats oppose the bill. They have raised concerns that the measure does little to address President Donald Trump's personal financial interests in the crypto space. 'We weren't able to include certainly everything we would have wanted, but it was a good bipartisan effort,' said Sen. Angela Alsobrooks, D-Md., on Monday. She added, 'This is an unregulated area that will now be regulated.' Known as the GENIUS Act, the bill would establish guardrails and consumer protections for stablecoins, a type of cryptocurrency typically pegged to the U.S. dollar. The acronym stands for 'Guiding and Establishing National Innovation for U.S. Stablecoins.' It's expected to pass Tuesday, since it only requires a simple majority vote — and it already cleared its biggest procedural hurdle last week in a 68-30 vote. But the bill has faced more resistance than initially expected. There is a provision in the bill that bans members of Congress and their families from profiting off stablecoins. But that prohibition does not extend to the president and his family, even as Trump builds a crypto empire from the White House. Trump hosted a private dinner last month at his golf club with top investors in a Trump-branded meme coin. His family holds a large stake in World Liberty Financial, a crypto project that provides yet another avenue where investors are buying in and enriching the president's relatives. World Liberty has launched its own stablecoin, USD1. The administration is broadly supportive of crypto's growth and its integration into the economy. Treasury Secretary Scott Bessent last week said the legislation could help push the U.S. stablecoin market beyond $2 trillion by the end of 2028. Brian Armstrong, CEO of Coinbase — the nation's largest crypto exchange and a major advocate for the bill — has met with Trump and praised his early moves on crypto. This past weekend, Coinbase was among the more prominent brands that sponsored a parade in Washington commemorating the Army's 250th anniversary — an event that coincided with Trump's 79th birthday. But the crypto industry emphasizes that they view the legislative effort as bipartisan, pointing to champions on each side of the aisle. 'The GENIUS Act will be the most significant digital assets legislation ever to pass the U.S. Senate,' Senate Banking Committee Chair Tim Scott, R-S.C., said ahead of a key vote last week. 'It's the product of months of bipartisan work.' The bill did hit one rough patch in early May, when a bloc of Senate Democrats who had previously supported the bill reversed course and voted to block it from advancing. That prompted new negotiations involving Senate Republicans, Democrats and the White House, which ultimately produced the compromise version expected to win passage Tuesday. 'There were many, many changes that were made. And ultimately, it's a much better deal because we were all at the table,' Alsobrooks said. Still, the bill leaves unresolved concerns over presidential conflicts of interest — an issue that remains a source of tension within the Democratic caucus. Sen. Elizabeth Warren, D-Mass., has been among the most outspoken as the ranking member on the Senate Banking Committee, warning that the bill creates a 'super highway' for Trump corruption. She has also warned that the bill would allow major technology companies, such as Amazon and Meta, to launch their own stablecoins. If the stablecoin legislation passes the Senate on Tuesday, it still faces several hurdles before reaching the president's desk. It must clear the narrowly held Republican majority in the House, where lawmakers may try to attach a broader market structure bill — sweeping legislation that could make passage through the Senate more difficult. Trump has said he wants stablecoin legislation on his desk before Congress breaks for its August recess, now just under 50 days away.

Federal appeals court set to hold hearing over Trump National Guard deployment in California

time23 minutes ago

Federal appeals court set to hold hearing over Trump National Guard deployment in California

The legal battle over the Trump administration's deployment of the National Guard in California heads to a federal appeals court on Tuesday. The Ninth Circuit Court of Appeals will preside over a remote hearing regarding California's challenge to President Donald Trump 's federalization of the state's National Guard troops amid protests over immigration enforcement in the Los Angeles area. Last week, a federal judge in California issued a temporary restraining order that would have blocked Trump's deployment of the troops and returned control of the California National Guard to Gov. Gavin Newsom, who did not consent to the Guard's activation. However, following an appeal by the Trump administration, a panel of three judges on the Ninth Circuit Court of Appeals issued an administrative stay of the lower court's order, dealing the Trump administration a temporary reprieve to what would have been a major reversal of its policy on the protests in Los Angeles. The three-judge panel -- made up of two judges nominated by Trump and one nominated by former President Joe Biden -- scheduled the hearing on the matter for Tuesday afternoon. The district judge's order called Trump's actions "illegal." "At this early stage of the proceedings, the Court must determine whether the President followed the congressionally mandated procedure for his actions. He did not," U.S. District Judge Charles Breyer said in his June 12 order granting the temporary restraining order sought by Newsom. "His actions were illegal -- both exceeding the scope of his statutory authority and violating the Tenth Amendment to the United States Constitution. He must therefore return control of the California National Guard to the Governor of the State of California forthwith." The order did not limit Trump's use of the Marines, which had also been deployed to LA. In a press conference after the district court's order, Newsom said he was "gratified" by the ruling, saying he would return the National Guard "to what they were doing before Donald Trump commandeered them." In its appeal to the Ninth Circuit, administration lawyers called the district judge's order "unprecedented" and an "extraordinary intrusion on the President's constitutional authority as Commander in Chief." Some 4,000 National Guardsmen and 700 Marines were ordered to the Los Angeles area following protests over immigration raids. California leaders claim Trump inflamed the protests by sending in the military when it was not necessary.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store