Trump Withdraws Isaacman as NASA Administrator Nominee
A White House spokesperson confirmed on May 31 that President Donald Trump was withdrawing his nomination of Jared Isaacman to become the next administrator of the National Aeronautics and Space Administration (NASA).
'The Administrator of NASA will help lead humanity into space and execute President Trump's bold mission of planting the American flag on the planet Mars,' White House spokesperson Liz Huston said in an email received by The Epoch Times.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Associated Press
26 minutes ago
- Associated Press
EU readying 'countermeasures' if tariffs deal with US crumbles
BARCELONA (AP) — The European Union on Monday said it is preparing 'countermeasures' against the United States after the Trump administration's surprise tariffs on steel rattled global markets and complicated the ongoing wider tariff negotiations between Brussels and Washington. EU Commission President Ursula von der Leyen and U.S. President Donald Trump agreed last week to 'accelerate talks' on a deal, but that if those trade negotiations fail 'then we are also prepared to accelerate our work on the defensive side,' European Commission spokesperson Olof Gill told a press conference in Brussels. 'In the event that our negotiations do not lead to a balanced outcome, the EU is prepared to impose countermeasures, including in response to this latest tariff increase,' Gill said. He said the EU is finalizing an 'expanded list of countermeasures' that would 'automatically take effect on July 14 or earlier.' That's the date when a 90-day pause, intended to ease negotiations, ends in tariffs announced by the two economic powerhouses on each other. About halfway through that grace period, Trump announced a 50% tariffs on steel imports. Trump's return to the White House has come with an unrivaled barrage of tariffs, with levies threatened, added and, often, taken away. Top officials at the EU's executive commission says they're pushing hard for a trade deal to avoid a 50% tariff on imported goods. The EU could possibly buy more liquefied natural gas and defense items from the U.S., as well as lower duties on cars, but it isn't likely to budge on calls to scrap the value added tax — which is akin to a sales tax — or open up the EU to American beef. The EU has offered the US a 'zero for zero' outcome in which tariffs would be removed on both sides industrial goods including autos. Trump has dismissed that but EU officials have said it's still on the table. The announcement Friday of a staggering 50% levy on steel imports stoked fear that big-ticket purchases from cars to washing machines to houses could see major price increases. But those metals are so ubiquitous in packaging, they're likely to pack a punch across consumer products from soup to nuts.
Axios
27 minutes ago
- Axios
Colorado's outdoor industry suffering from trade war
Travis Campbell shelled out an additional $580,000. Mike Mojica raised prices and laid off workers. Trent Bush is worried he may go out of business. Why it matters: The three Colorado outdoor retail executives say they are casualties of President Trump's trade war. State of play: The sunny skies and huge crowds at last week's Outside Festival in Denver camouflaged a dire reality: Tariffs on foreign goods are pushing the outdoor industry to the brink. Campbell, CEO of Eagle Creek in Steamboat Springs, which is celebrating its 50th anniversary in 2025, manufactures most of its products in Indonesia and sells them worldwide. His costs skyrocketed with the new tariffs forcing him to freeze salaries, leave two positions unfilled and cut other expenses. Mojica, founder of Outdoor Element, based just outside Denver, finished his best year ever in 2024 but now feels like he's drowning. Even though he raised prices for his fire starter gadgets, the profit margin remains slim and he's paused some production. He lost an account, laid off workers and brought in family members as volunteer workers. Trent Bush leads Artilect, a Boulder-based clothing company that specializes in merino wool grown outside the U.S. He's worried about the uncertainty of his business as well as the anti-American sentiment the tariffs have generated. For now, he's just trying to make ends meet. What they're saying: "When you add that all up, the [impacts of tariffs] mean lower wages, fewer jobs and less spending in the economy," Campbell said at a congressional hearing Friday in Denver hosted by U.S. Sen. John Hickenlooper. "I don't think that's what we're aiming for." "What felt like a mood swing for my commander in chief now feels like a knife in the back," added Mojica, who previously served in the U.S. Army and Air Force. The industry faces an "unprecedented crisis," Bush emphasized at the hearing. The other side: Other industries could see benefits from tariffs. And Republican lawmakers, including U.S. Rep. Gabe Evans of Thornton, have defended them as necessary to level the playing field for other industries, such as agriculture. Context: The outdoor industry is especially reliant on the global supply chain for specialized equipment that requires immense skills, particularly waterproof materials and shoes. All three business owners said they've worked diligently to onshore production in recent years, but it proved impossible. "These goods require years of skill and specialization to produce, and those capabilities do not exist in the U.S. at any level of scale required to make the goods that we produce," Campbell said. The bottom line: The conversation continued Sunday on the sidelines of the Outside Festival.
Yahoo
27 minutes ago
- Yahoo
US Dollar: This Week's Labor Data May Offer Support Despite Lingering Trade Fears
The US Dollar fell sharply below 99 amid rising geopolitical and trade tensions. Trump's tariff hike risks reigniting trade wars, raising doubts about the US-China trade truce. Key US economic data this week, especially Friday's nonfarm payrolls, will influence the dollar's path. Looking for actionable trade ideas to navigate the current market volatility? Subscribe here to unlock access to InvestingPro's AI-selected stock winners. The US Dollar started the week with a sharp drop, falling below the 99 level and testing last week's lows. Rising geopolitical tensions, stricter US trade policies, and a packed US economic data schedule have made investors more cautious. Although the dollar saw some small gains last week, it lost those gains quickly this week due to growing political and economic uncertainty. The pressure on the US Dollar is mainly due to President Donald Trump's announcement that tariffs on steel and aluminum imports will rise from 25% to 50% starting June 4. This decision has raised fears that trade wars could return, weakening investor confidence. The move also cast doubt on the temporary trade truce reached with China in Switzerland last month. Trump accused China of breaking the deal, but China strongly denied it. It is still unclear whether the two leaders will meet soon. Kevin Hassett, head of the US National Economic Council, said a meeting between Trump and Chinese President Xi Jinping could happen later this week. However, markets are treating this possibility with caution. Some analysts believe the US does not plan to remove tariffs completely, but the lack of clear direction is adding long-term uncertainty. The dollar index is also under pressure from concerns about slowing US growth. According to Morgan Stanley (NYSE:MS), the US economy may weaken by mid-next year, leading to expected interest rate cuts. The bank predicts the dollar index (DXY) could drop nearly 9% to around 91—a level last seen during the pandemic. The economic data scheduled for this week will be key to where the US dollar heads next. Today, markets will watch both the US ISM manufacturing PMI and manufacturing PMI data from the Eurozone. Speeches from Federal Reserve members will also be closely followed for any hints about future interest rate moves. On Wednesday, the ADP private sector employment report and the Fed's Beige Book will be released. On Thursday, the foreign trade balance and unemployment claims data will come out. The most important data point of the week will be the US nonfarm payrolls report on Friday. These reports could strongly influence the Fed's short-term policy decisions. Analysts expect job growth to slow, but the unemployment rate is likely to hold steady at 4.2%. If the data show the labor market remains strong, fears of a recession may ease, and the dollar could bounce back. On the other hand, weaker job numbers may add more pressure on the dollar. Tensions on the geopolitical front are adding to the pressure on the US dollar. Over the weekend, Ukraine carried out a large drone strike on Russian military sites, reportedly damaging nearly 40 bombers. This renewed conflict has pushed investors toward safer assets. How Russia will respond remains uncertain. Talks are expected to take place in Istanbul, but the latest attacks raise doubts about the success of any diplomatic progress. Meanwhile, markets are also watching the European Central Bank's meeting on Thursday. The ECB is expected to cut interest rates by 25 basis points. While this puts some pressure on the euro, the move may still support the euro against the dollar, given the political and economic uncertainty in the US. In short, the dollar index is currently weighed down by trade tensions and signs of economic weakness. Geopolitical risks, unclear Fed policy, and especially renewed friction between the US and China will shape its direction. Friday's nonfarm payrolls data will be one of the most important indicators this week. Although the US Dollar slowed its downward trend last week, the developments over the weekend put pressure on the index again. As the US Dollar lost its intermediate support at 99, it started to slide below the level where it has found support since April. The current trend may lead the US Dollar to test the 97.90 level once again this week. On a weekly close below this level, the index will return to the falling channel that originated in February. Thus, in the coming months, we may see that the downtrend may continue towards the 95 region and then towards the 92 level. However, the easing of trade tensions and the data releases this week that are supportive of the US economy may help the US Dollar to find support in the 98 region again. In upward moves, daily closes above 99.65 can be followed as a sign of recovery. Then, the index may be expected to move towards the 100-102 region. However, the current outlook suggests that the US Dollar may continue its downward trend rather than a recovery. *** Be sure to check out InvestingPro to stay in sync with the market trend and what it means for your trading. Whether you're a novice investor or a seasoned trader, leveraging InvestingPro can unlock a world of investment opportunities while minimizing risks amid the challenging market AI: AI-selected stock winners with a proven track record. InvestingPro Fair Value: Instantly find out if a stock is underpriced or overvalued. Advanced Stock Screener: Search for the best stocks based on hundreds of selected filters and criteria. Top Ideas: See what stocks billionaire investors such as Warren Buffett, Michael Burry, and George Soros are buying. This article is written for informational purposes only. It is not intended to encourage the purchase of assets in any way, nor does it constitute a solicitation, offer, recommendation or suggestion to invest. I would like to remind you that all assets are evaluated from multiple perspectives and are highly risky, so any investment decision and the associated risk rests with the investor. We also do not provide any investment advisory services. Related articles US Dollar: This Week's Labor Data May Offer Support Despite Lingering Trade Fears US Dollar: Downside Risks Rise Amid Downbeat Economic Data Ahead of PCE This Week EUR/USD: Upside Momentum Builds as Rate Cut Delay Sparks Weakness in US Dollar Error in retrieving data Sign in to access your portfolio Error in retrieving data
