Trump is misleading the American people
Scott Bessent's comment was also incorrect, or at least misleading, as was a Truth Social post by Trump that said inflation was very low and the Federal Reserve Board should cut US interest rates by three percentage points.
While the annualised headline inflation rate of 2.7 per cent in June was in line with expectations and the 'core' rate of 2.9 per cent, which excludes volatile food and energy prices, was also as forecast, there were clear early signs that the tariffs are flowing through to prices.
Those sectors that are most tariff-exposed – fresh fruit and vegetables, household appliances and furniture, toys, clothing and sporting goods – all experienced prices increases.
Appliance prices rose the most since 2020, toys the most since early 2021 and sports equipment and household furnishings the most in three years. The price of oranges was up 4.7 per cent, olives 4.4 per cent and coffee (before the 50 per cent tariff on Brazilian imports) 2.2 per cent.
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If cars (where prices fell, perhaps because consumers brought forward purchases) were excluded, the increase in core goods prices of 0.55 per cent was the biggest monthly rise since the late 2021 through to mid-2022 period, when the US inflation rate was soaring as the supply shocks from the pandemic hit.
The trend is definitely not Trump's friend. In the year to April, the inflation rate was 2.3 per cent. It edged up to 2.4 per cent in May. Now it's 2.7 per cent. If inflation in the three months to June were annualised the rate would be 2.4 per cent against the 1.7 per cent experienced in the three months to May.
US inflation is, therefore, rising, not falling, and moving away from the Fed's target of 2 per cent.
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7NEWS
an hour ago
- 7NEWS
Travellers to the US must pay a new $250 ‘visa integrity fee' — what to know
Visitors to the United States will need to pay a 'visa integrity fee,' according to a provision of the Trump administration's recently enacted One Big Beautiful Bill Act. The fee applies to all visitors who need nonimmigrant visas to enter, and cannot be waived. However, travellers may also be able to get the fees reimbursed, according to the provision. Details about the new requirement are scant, which has resulted in 'significant challenges and unanswered questions regarding implementation,' a spokesperson from the US Travel Association told CNBC Travel. However, here is what is known thus far. How much is the fee? The fee will be at least $250 ($A383) during the US fiscal year 2025, which runs from October 1, 2024, to September 30, 2025. However, the secretary of Homeland Security is free to set the fee higher, according to the provision. Thereafter, the visa integrity fee will be adjusted for inflation. Who must pay the new fee? The 'visa integrity fee' applies to all visitors who need nonimmigrant visas, which includes tourists, business travellers and international students. When is the fee paid? The fee is paid when the visa is issued, according to the provision. Thus, visitors whose visa requests are denied will not be charged. Does the fee replace other visa fees? No, the provision states that the new fee is 'in addition to' other fees, including regular visa fees. 'For example, an H-1B worker already paying a $205 application fee may now expect to pay a total of $455 once this fee is in place,' Steven A Brown, a partner at the Houston-based immigration law firm Reddy Neumann Brown PC, wrote in a post on his firm's website. Additionally, the fee must be paid on top of a 'Form I-94 fee,' which the One Big Beautiful Bill Act increased from $6 to $24. That fee must be paid by anyone who is required to submit a Form I-94 arrival and departure record, which applies to most travellers. How can travellers get reimbursed? To get their money back, visa holders must comply with the conditions of the visa, which includes 'not accept[ing] unauthorised employment,' and not overstay the visa validity date by more than five days, according to the provision. Reimbursements will be made after the travel visa expires, it says. What isn't known The fee has not yet been implemented, according to Brown. It is not clear when it will begin. 'I believe it would need a regulation, or at least a notice in the Federal Register, regarding implementation on collection,' said Brown. It is also unclear how travellers will pay the fee, the US Travel Association told CNBC. 'The bill directs the DHS Secretary to charge the fee, but DHS does not own the visa application, issuance or renewal process — so where and when would DHS collect the fee?' the spokesperson said. In response to CNBC's enquires, a Department of Homeland Security spokesperson said: 'The visa integrity fee requires cross-agency coordination before implementation.' More questions surround how and when the reimbursement process kicks in. Since many visas are valid for several years, the US Congressional Budget Office said it expects 'a small number of people would seek reimbursement.' Moreover, 'CBO expects that the Department of State would need several years to implement a process for providing reimbursements. On that basis, CBO estimates that enacting the provision would increase revenues and decrease the deficit by $28.9 billion over the 2025‑2034 period.' Brown said he is advising clients to treat the fee as nonrefundable. 'If you get it back, great. But it is usually difficult to get money back from the government,' he said. 'I would rather them view it as a 'bonus' if they get the refund.' The purpose of the fee 'President Trump's One Big Beautiful Bill provides the necessary policies and resources to restore integrity in our nation's immigration system,' a Department of Homeland Security spokesperson told CNBC. Data shows most visa holders comply with their visa terms. For the fiscal years between 2016 and 2022, between 1 and 2 per cent of nonimmigrant visitors overstayed their visas in the United States, according to the US Congressional Research Service. However, an estimated 42 per cent of the approximately 11 million unauthorised population living in the United States entered the country legally, but overstayed their period of admission, the data shows. Effect on incoming travellers Brown said the visa integrity fee will likely impact B visa holders — or leisure and business travellers — and international students more than other types of travellers. 'For B visa holders, they may not want to add an additional $250 per person to their trip costs,' he said. The new fee, plus the I-94 fee, come as the United States prepares to host several major events in 2026, including the 'America 250' celebration, in honour of the country's 250th anniversary, and parts of the FIFA World Cup. These hurdles are compounded by problems at Brand USA, the destination marketing organisation that promotes inbound travel into the United States, which saw the One Big Beautiful Bill Act slash its funding from $100 million to $20 million. The cuts came after the US Commerce Department fired nearly half of Brand USA's board members in April. In a statement, Fred Dixon, the organisation's president and CEO, said it is 'disappointed' with the cuts yet hopeful that the funds will be restored for the fiscal year 2026. 'We remain focused on growing legitimate international inbound travel and the vital boost it provides to the US economy,' he said. Ahead of the passage of the One Big Beautiful Bill Act, US Travel Association President and CEO Geoff Freeman praised the bill's contributions to US infrastructure, air traffic control and border security. But, he added: 'The smart investments in the travel process make foolish new fees on foreign visitors and reductions to Brand USA, America's promotion arm, that much harder to swallow.'
Daily Telegraph
2 hours ago
- Daily Telegraph
‘In shock': Ex-girlfriend of Jeffrey Epstein again accuses Donald Trump of misconduct
Don't miss out on the headlines from World. Followed categories will be added to My News. An ex-girlfriend of Jeffrey Epstein has resurfaced her claim that Donald Trump 'groped' her during a meeting with the sex trafficker in the early 1990s, saying the alleged incident left her 'frozen' and 'in shock'. Stacey Williams, now 57, dated Epstein more than 30 years ago, long before he was first arrested for his sex crimes. The incident she recalls, allegedly involving Mr Trump, happened in 1993. She spoke about it before last year's presidential election, and is now bringing attention to it again amid the renewed controversy around the Epstein files. Stacey Williams at a Sports Illustrated promo event in 1996. Picture: Evan Agostini/Liaison 'They were best friends,' Ms Williams claimed of Mr Trump and Epstein during an interview with CNN today. 'I dated Jeffrey for a period of, more or less, I think about four or five months. And the only friend that he would mention every time we saw each other, or had a phone conversation, was Donald. They were very close, and they were up to no good. 'It was such a long time ago. But that was his bro, that was his wingman.' CNN host Brianna Keilar noted that her network had spoken to three friends of Ms Williams, who said she had spoken to them about the alleged incident contemporaneously, many years before Mr Trump entered politics. 'I want to point out that I was polygraphed, before I did all this, by one of the most renowned examiners in the world,' Ms Williams said. She also pointed to Epstein's testimony in interviews with the author Michael Wolff. 'Jeffrey confirmed to Michael what the two of them did to me,' she claimed. Ms Williams in 1994, close to the time of the alleged incident. Picture Eric Weiss/WWD/Penske Media via Getty Images Ms Williams in February of this year. Picture:'I was dating Jeffrey, and he was always talking about Donald. It was his bestie and everything. And he was joking about how Donald thought I was hot, or whatever,' she told Ms Keilar, recalling the alleged incident. 'He said, 'Let's stop in and see him.' So we went up to his office at Trump Tower. And within a couple of minutes, Donald was outside his office, and his hands were all over me. They were on my breasts, they were on my butt, they were on my hips, up and down. 'The two of them kept having a normal conversation.' Ms Williams spoke of how 'shocking' the experience was. 'When that happens in broad daylight, in an office, with assistants walking back and forth, you're in shock,' she said. 'If it happens in a dark alleyway, you fight back. But when it's brazen like that, which is Donald Trump's forte, you go into shock. 'So I froze. And it was over very quickly, it was a few minutes. And then we got back in the elevator, and Jeffrey's energy had changed.' She said Epstein was 'enraged' by the incident and, shouting, asked, 'Why would you let him do that?' once they were outside the building. Her interpretation was that Epstein expected her to resist more and was angry when she 'froze'. Ms Williams in 2004. Picture: Jason Nevader/WireImage for Sports Illustrated This all echoes an interview Ms Williams gave during last year's election campaign, which Mr Trump's spokespeople dismissed as 'fake' at the time. 'The second he was in front of me, he pulled me into him,' said Ms Williams. 'And his hands were just on me, and didn't come off. Then the hands started moving, and they were on the side of my breasts, down to my hips, back down to my butt, back up. They were just on me the whole time. And I ... sorry. I froze.' Ms Williams said she believed the incident was 'some kind of weird, twisted game' between Mr Trump and Epstein, whom she said allegedly 'smiled at each other' while it was happening. 'It's obvious this fake story was contrived by Kamala Harris's campaign,' Karoline Leavitt, who is now Mr Trump's White House Press Secretary, said at the time. Donald Trump. Picture: Andrew Caballero-Reynolds/AFP According to Ms Williams, Mr Trump sent her agent a postcard later in 1993, after the alleged incident. On its front was an aerial view of his Florida resort, Mar-a-Lago. 'Stacey: Your home away from home. Love, Donald,' he wrote on the back. Ms Williams alleged she was 'berated' by Epstein after the encounter. 'Jeffrey and I left and he didn't look at me or speak to me, and I felt this seething rage around me, and when we got down to the sidewalk, he looked at me and just berated me, and said why did you do that?' she recounted. 'He made me feel so disgusting, and I remember being so utterly confused. 'I felt shame and disgust and as we went our separate ways. I felt this sensation of revisiting it, while the hands were all over me. 'And I had this horrible pit in my stomach that it was somehow orchestrated. I felt like a piece of meat.' Mr Trump has denied all allegations of sexual misconduct since he entered politics a decade ago. In 2023, however, he was found liable in civil court for sexually assaulting the author E. Jean Carroll, and was ordered to pay millions of dollars in damages. The judge in that case found that Mr Trump 'digitally raped Ms Carroll'. Mr Trump appealed the ruling, but that appeal was denied earlier this month. Ms Williams alongside other models in 2004. Picture:The President's personal conduct came into sharper focus, this past fortnight, after his hand-picked officials in the Justice Department and FBI reneged on their previous promises to release the so-called 'Epstein files'. Mr Trump was a friend of Epstein for about 15 years, but no evidence has ever emerged to implicate him in the sex trafficker's crimes. This week The Wall Street Journal published a story alleging Mr Trump wrote Epstein a gaudy birthday message in 2003. The note, printed inside an outline of a naked woman, said Mr Trump hoped 'every day (may) be another wonderful secret'. The President has called the note 'fake' and launched defamation proceedings against the newspaper. He has also instructed the Justice Department to release a small number of Epstein-related documents. 'I have asked the Justice Department to release all Grand Jury testimony with respect to Jeffrey Epstein, subject only to Court Approval,' said Mr Trump today. 'With that being said, and even if the Court gave its full and unwavering approval, nothing will be good enough for the troublemakers and radical left lunatics making the request. It will always be more, more, more. MAGA!' Grand jury testimony only involves evidence offered in an attempt to move a prosecution forward, which in this case means it will almost exclusively relate to Epstein and his chief co-conspirator Ghislaine Maxwell. That testimony will not implicate Epstein's unindicted co-conspirators, and indeed the Justice Department has requested, in its filing, that third parties remain unidentified. Originally published as 'In shock': Ex-girlfriend of Jeffrey Epstein again accuses Donald Trump of misconduct
AU Financial Review
3 hours ago
- AU Financial Review
‘Australia deserves respect': PM rebuffs critics over Trump chat
Prime Minister Anthony Albanese has denied the lack of a first face-to-face meeting with Donald Trump is hurting Australian interests, arguing no other country had secured better trade arrangements against the US president's tariff walls and Australia 'gives and deserves respect'. Speaking to The Australian Financial Review as he returned from last week's five-day, six-night visit to China, Albanese also rejected criticism the trip had failed to produce any concrete outcomes and that he was being too deferential towards Beijing as geopolitical tensions ratcheted up.
