Kamala Harris doesn't hold back in sharp rebuke of Trump's first 100 days '
'Instead of an administration working to advance America's highest ideals, we are witnessing the wholesale abandonment of those ideals,' Harris said in San Francisco during an address at the 20th anniversary gala for Emerge America. The organization recruits and trains Democratic women to run for office.
Harris, whose remarks came just one day after Trump marked his 100th day in office, said the new administration is trying to sow fear in Americans.
But in the face of fear comes courage, she said.
"The courage of Americans who are banding together in the face of the greatest man-made economic crisis in modern presidential history," she said. "Americans across the political spectrum who are declaring that the President's reckless tariffs hurt workers and families by raising the cost of everyday essentials."
Related: Dismantling agencies and firing workers: How Trump is redefining relations with Congress and courts
As a result of Trump's on-again off-again tariffs, markets have see-sawed and consumer confidence has dropped. It all came to a head Wednesday when data from the Commerce Department showed the economy had its worst quarter in three years.
Trump pushed the blame onto former President Joe Biden, Harris' one-time boss, saying there will be a 'boom' to the economy once his tariffs kick in.
But Harris, who lost in the 2024 presidential election after taking over from Biden, said she predicted that Trump's tariffs are 'clearly inviting a recession.'
The former vice president also warned that checks and balances that the United States has historically relied on 'have begun to buckle." Congress and the courts must do their parts to protect that balance, Harris said. But if the president defies them, it is the start of serious problems, she said.
"Friends, that is called a constitutional crisis," she said. "And that is a crisis that will eventually impact everyone because it would mean that the rules that protect our fundamental rights and freedoms that ensure each of us has a say about how our government works will no longer matter."
While she's reportedly weighing her next move in politics, whether running for president a third time or campaign to be the next California governor, Harris warned Americans that things are probably 'going to get worse before they get better.'
'Please always remember this country is ours,' she said. 'It doesn't belong to whoever is in the White House. It belongs to you.'
This article originally appeared on USA TODAY: Harris warns of 'constitutional crisis' in sharp critique of Trump
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In it, Nunn, one of the nation's most vulnerable incumbents, talks to constituent Sarah Curry about how the expanded child tax credit will help with the cost of one child's speech therapy. Nunn is also planning to use the state fair as the backdrop for more videos selling the bill's provisions temporarily cutting taxes on tips and overtime. Economic issues — namely, Trump's tax package and his tariff war with countries that buy much of Iowa's agricultural products — will be front and center in Nunn's race, and he's eager to get a jumpstart defining the issues. So, too, are Democrats, who see Iowa's two swing districts as must-wins in their push to take back the House majority. Democrat Jennifer Konfrst, who is working to unseat Nunn, said she approaches Iowans at the fair asking them what keeps them up at night and the answer is usually 'costs.' Read more here. (Bloomberg) — Republican Representative Zach Nunn is making an Iowa State Fair video about President Donald Trump's tax law, shot on a John Deere tractor under the blazing August sun. In it, Nunn, one of the nation's most vulnerable incumbents, talks to constituent Sarah Curry about how the expanded child tax credit will help with the cost of one child's speech therapy. Nunn is also planning to use the state fair as the backdrop for more videos selling the bill's provisions temporarily cutting taxes on tips and overtime. Economic issues — namely, Trump's tax package and his tariff war with countries that buy much of Iowa's agricultural products — will be front and center in Nunn's race, and he's eager to get a jumpstart defining the issues. So, too, are Democrats, who see Iowa's two swing districts as must-wins in their push to take back the House majority. Democrat Jennifer Konfrst, who is working to unseat Nunn, said she approaches Iowans at the fair asking them what keeps them up at night and the answer is usually 'costs.' Read more here. Tariffs' impact on Walmart, other retailers' earnings about to come into focus Several major retailers will report earnings this week, which may give a first glimpse into how President Trump's tariffs have affected their bottom lines. The list includes Walmart (WMT), Target (TGT), Home Depot (HD), Lowe's Companies (LOW) TJ Maxx parent TJX Companies (TJX) and Ross Stores (ROST). The Trump administration has urged retailers not to raise prices for consumers to offset the tariffs' impact, with a particular focus on Walmart, The Street reminds us: Read more here. Several major retailers will report earnings this week, which may give a first glimpse into how President Trump's tariffs have affected their bottom lines. The list includes Walmart (WMT), Target (TGT), Home Depot (HD), Lowe's Companies (LOW) TJ Maxx parent TJX Companies (TJX) and Ross Stores (ROST). The Trump administration has urged retailers not to raise prices for consumers to offset the tariffs' impact, with a particular focus on Walmart, The Street reminds us: Read more here. Trump's trade war not likely to cause recession, Moody's economist says Economist Justin Begley of Moody's Analytics tells USA Today that President Trump's economic policies won't cause a recession or stagflation, but will likely slow growth and push up inflation. The economy isn't in stagflation yet, Begley said, "but it's edging that way," he adds: Read more here. Economist Justin Begley of Moody's Analytics tells USA Today that President Trump's economic policies won't cause a recession or stagflation, but will likely slow growth and push up inflation. The economy isn't in stagflation yet, Begley said, "but it's edging that way," he adds: Read more here. Commerce department applies 50% steel, aluminum tariffs to more products (Reuters) -The Trump administration widened the reach of its 50% tariffs on steel and aluminum imports by adding hundreds of derivative products to the list of goods subject to the levies. In a Federal Register notice late on Friday, the Commerce Department said the Bureau of Industry and Security was adding 407 product codes to the Harmonized Tariff Schedule of the United States that identify the goods to be hit with the additional duties on the steel and aluminum content of those products. The non-steel and non-aluminum content will be subject to the tariff rates President Donald Trump has imposed on the goods originating from specific countries, the notice said. The levies on the goods on the expanded list go into effect on August 18. Read more here. (Reuters) -The Trump administration widened the reach of its 50% tariffs on steel and aluminum imports by adding hundreds of derivative products to the list of goods subject to the levies. In a Federal Register notice late on Friday, the Commerce Department said the Bureau of Industry and Security was adding 407 product codes to the Harmonized Tariff Schedule of the United States that identify the goods to be hit with the additional duties on the steel and aluminum content of those products. The non-steel and non-aluminum content will be subject to the tariff rates President Donald Trump has imposed on the goods originating from specific countries, the notice said. The levies on the goods on the expanded list go into effect on August 18. Read more here. Consumers' inflation expectations rise amid Trump tariffs Inflation expectations rose from July to August, indicating that consumers remain uncertain about President Trump's trade policies. 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Year-ahead inflation expectations increased to 4.9% from 4.5% last month, according to the University of Michigan's survey of consumers. Long-run inflation expectations also rose to 3.9% in August from 3.4% in July. "Overall, consumers are no longer bracing for the worst-case scenario for the economy feared in April when reciprocal tariffs were announced and then paused," Joanne Hsu, the university's Surveys of Consumers director, wrote. "However, consumers continue to expect both inflation and unemployment to deteriorate in the future." Consumer sentiment also deteriorated month over month, falling for the first time in four months. The University of Michigan's Consumer Sentiment Index fell to 58.6 from 61.7 a month ago. Read more here. US import prices rebound in July on higher consumer goods costs US import prices rebounded in July in the latest sign that inflation is set to pick up because of tariffs. Reuters reports: Read more here. US import prices rebounded in July in the latest sign that inflation is set to pick up because of tariffs. Reuters reports: Read more here. Trump says semiconductor tariffs could reach 300% President Trump said Friday he is planning on unveiling tariffs on semiconductor imports over the next two weeks, hinting that those duties could reach as high as 300%. From Bloomberg: Read more here. President Trump said Friday he is planning on unveiling tariffs on semiconductor imports over the next two weeks, hinting that those duties could reach as high as 300%. From Bloomberg: Read more here. Applied Materials' shares sink on weak China demand, tariff risks Shares in Applied Materials (AMAT) sank 14% before the bell on Friday after the chip equipment maker issued weak fourth-quarter forecasts on sluggish China demand, fueling concerns over tariff-related risks. Reuters reports: Read more here. Shares in Applied Materials (AMAT) sank 14% before the bell on Friday after the chip equipment maker issued weak fourth-quarter forecasts on sluggish China demand, fueling concerns over tariff-related risks. Reuters reports: Read more here. Sign in to access your portfolio
Yahoo
26 minutes ago
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Wall St futures subdued ahead of retail earnings, Fed commentary
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Yahoo
26 minutes ago
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US stock futures flat ahead of big box retailer results
U.S. stock futures are flat after a listless start to the week as investors stayed sidelined ahead of quarterly results from big box retailers and a conference of global financial leaders later this week. Discount giants Walmart and Target and home improvement company Lowe's are slated to report around midweek. Home Depot is due before the market opens. These earnings can provide a window into how tariffs are affecting companies and consumer spending. Federal Reserve Chair Jerome Powell is set to give a speech at the end of the week at the annual Jackson Hole Economic Symposium of global central bankers and finance chiefs. Investors will be looking for hints Powell may be done waiting to see tariff effects before cutting rates again. The CME FedWatch tool that shows the likelihood that the Fed will change rates at each policy meeting based on market trading suggests a nearly 84% chance of the Fed easing rates in September. Before Powell's speech, investors will get a glimpse midweek of the dissents at the last Fed meeting. Fed governors Christopher Waller and Michelle Bowman voted against the central bank's decision to keep rates unchanged between 4.25%-4.50% last month. It was the first time since 1993 that two governors dissented. At 6:10 a.m. ET, futures linked to the blue-chip Dow added 0.03%, while broad S&P 500 futures slipped -0.06% and tech-laden Nasdaq futures fell -0.05%. Corporate news Palo Alto Networks topped estimates in the last three months of its fiscal year. Its guidance for the first three months of its fiscal year and for the full year also topped expectations. Founder Nir Zuk also is retiring as chief technology officer. Intel is getting a $2 billion investment from Softbank. The Japanese investment firm is buying around 87 million shares, or roughly 2% of Intel's outstanding shares, at $23 apiece. Tegna is in the middle of a bidding war after Sinclair offered to merge its broadcast TV business in a deal that would value Tegna shares at around $25 to $30 apiece, the Wall Street Journal said, citing sources. Tegna is already in advanced talks to sell itself to Nexstar Media Group. 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 morning. This article originally appeared on USA TODAY: US stock futures flat ahead of big box retailer results 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
