The Latest: Texas Democrats prevent state redistricting by leaving the state
After dozens of Democrats left the state, the Republican-dominated House was unable to establish the quorum of lawmakers required to do business. Texas Gov. Greg Abbott has made threats about removing members who are absent from their seats. Democrats counter that Abbott is using 'smoke and mirrors' to assert legal authority he doesn't have.
In California, Democrats encouraged by Gov. Gavin Newsom are considering new political maps that could slash five Republican-held House seats in the liberal-leaning state while bolstering Democratic incumbents in other battleground districts. The move is intended to undercut any GOP gains in Texas, potentially swinging House control and giving Democrats a counterweight to Trump on Capitol Hill.
Here's the latest:
Trump threatens eventual 200% tariffs on pharma
The U.S. president said imported pharmaceutical drugs could eventually face tariffs as high as 200%.
'We want pharmaceuticals made in our country,' Trump said in the CNBC interview.
Trump said tariffs on pharmaceuticals will be 'initially small,' but that he would hike it to 150% or 200% over the subsequent year and a half.
The president also said he would announce tariffs on semiconductors and computer chips.
Trump says EU will pay 35% tariffs if $600B investments don't come through
Trump told CNBC hosts that 35% tariffs will kick in with the European Union if they don't make good on promised investments in U.S. goods.
The president was asked what 'teeth' were in deals to force European officials to make good on their pledges.
Trump initially said the EU was paying $650 billion but then rounded the figure down to $600 billion.
'We're a rich country again,' Trump said, adding that the $600 billion investment can go in 'anything I want.'
Trump floats 'Kevin and Kevin' for Fed chair
The president said he was considering four people for Federal Reserve Chairman Jerome Powell's replacement.
Among the top on his list are his current economics director, Kevin Hassett, and former Fed governor Kevin Warsh.
'I think Kevin and Kevin, both Kevins are very good,' Trump said during an interview on CNBC Tuesday morning.
He said two other people were in consideration. Not one of them: current Treasury Secretary Scott Bessent, who has indicated to Trump that he wants to stay where he is.
'It'll be one of four people,' he said. 'We're going to make a decision soon.'
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Texas Democrats' walkout to block a new map, by the numbers
Democratic Texas Rep. Ron Reynolds, center, surrounded by other Texas House Democrats and Democratic members of Congress, speaks during a press conference at the Democratic Party in Warrenville, Ill., Monday, Aug. 4, 2025. (AP Photo/Nam Y. Huh) NH flag wire: true flag sponsored: false article_type: : sWebsitePrimaryPublication : publications/toronto_star bHasMigratedAvatar : false :
Winnipeg Free Press
7 minutes ago
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Texas Democrats' walkout to block a new map, by the numbers
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Nasdaq Composite (^IXIC): Jumped 252.87 points, or 1.21 percent, finishing at 21,169.42, its best level in over a month. Dow Jones (^DJI): Gained 81.38 points, or 0.18 percent, settling at 44,193.12. Market Drivers: Tech stocks led the charge, with megacap names like Nvidia, Apple, and Microsoft contributing significantly to the Nasdaq's rally. Investors shrugged off recent volatility, encouraged by solid earnings reports and expectations of steady Federal Reserve policy. Outlook: With inflation data and Fed commentary on the horizon, traders remain cautiously optimistic. Wednesday's rally suggests renewed confidence, but market participants will watch for fresh catalysts to sustain momentum. 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