Tracking Trump: Trade talks with China to begin; how the federal deficit has grown; Trump's new surgeon general pick; and more
President Donald Trump suggested lowering tariffs on China ahead of trade talks.
The U.S. has spent $166 billion more this year than last year.
The Trump administration is moving detainees to a Texas facility.
Trump shut out refugees, but is making an exception for one group.
Trump's new surgeon general pick is facing widespread criticism.
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The Hill
30 minutes ago
- The Hill
Private prison operator blocked from housing ICE detainees at shuttered facility
A judge in Kansas issued a Wednesday ruling determining that a private prison operator could not use its shuttered facility to house detainees from the U.S. Immigration and Customs Enforcement (ICE). Leavenworth County Judge John Bryant granted a temporary restraining order blocking CoreCivic from housing individuals in the custody of ICE. The order was issued after a March lawsuit was thrown out in May on technical grounds, according to the Associated Press. CoreCivic did not immediately reply to The Hill's request for comment on the ruling. Earlier this year, executives applied to use their 1,033-bed facility to help the Trump administration facilitate removals in its crackdown on illegal immigration. CoreCivic said it would lose $4.2 million each month it wasn't open, according to legal files reviewed by AP. The company applied for a permit to use the grounds for ICE operations but withdrew its application in May alleging it didn't need permission from the city to determine which detainees to house. 'It became clear to CoreCivic that there was not a cooperative relationship,' said Taylor Concannon Hausmann, an attorney for the private prison operator, speaking in court, as reported by the AP. However, city attorney Joe Hatley urged the company to 'follow the rules' and obtain the proper permit for operations. The CoreCivic property is located 10 miles away from the Kansas City International Airport and has previously worked with federal officials to house pre-trial detainees, according to the AP. In 2021, the Tennessee-based company stopped working for the U.S. Marshals Service after former President Biden urged the Justice Department to cease contracts with private prison operators. Multiple inmate violations were flagged in addition to reported suicides and killings. The Trump administration has been working with the private sector to undertake deportation efforts, including the GEO Group, which is planning to reopen New Jersey's Delaney Hall to hold individuals awaiting removal. Democrats have protested the use of the facility for federal purposes citing concerns about federal operations within Newark, a designated sanctuary city.
Yahoo
32 minutes ago
- Yahoo
Silver prices hit 13-year high as dollar weakens amid tariff uncertainty: 'The breakout has been brewing'
Silver (SI=F) prices surged to 13-year highs on Thursday, breaking above $35 per ounce amid uncertainty over President Trump's tariff policy and the continued decline of the US dollar. Spot silver rose to climb above $35.90, its highest level since February 2012, while futures for July delivery (SI=F) jumped more than 4% to hover above $36 per troy ounce. The move follows a recent resurgence in gold (GC=F) prices, which have been driven by trade policy uncertainty and continued central bank demand buying. "The breakout has been brewing for a while," Maria Smirnova, senior portfolio manager and chief investment officer at Sprott Asset Management, told Yahoo Finance on Thursday. "Silver had attempted to break through the $35 level a couple of times in recent months, so this is highly significant." "Furthermore, if the technical move catalyzes physical investor buying, it can take silver much higher very quickly," she added. The market for silver, sitting just above an estimated $2 trillion, is much smaller than gold's more than $22 trillion. That makes the volatility in silver prices up to two to three times greater than that of gold. Read more: How to invest in gold in 4 steps The precious metal also has industrial uses, from electronics to automobile components to solar panels, making prices susceptible to any imbalance between supply and demand as the US moves to increase domestic manufacturing. "We have been talking for a while about the supply/demand deficits in silver, since 2021 there has been a cumulative 800m oz draw and the deficits are projected to continue. Silver has a very positive investment case right now," Smirnova said. A falling US dollar index ( has also sent the price of silver lower, given the inverse correlation between the greenback and precious metals. The greenback has been under pressure in recent weeks amid weariness over increased fiscal US spending as capital shifts toward currencies and stocks abroad. Trump's proposed tax bill, which is said to raise the debt ceiling by $4 trillion, passed the House last month. Year to date, silver is up more than 23%. Gold has risen 29% over the same period. To be sure, StoneX head of market analysis Rhona O'Connell pointed out that silver is "notoriously volatile and it is fully capable of dropping" as sharply as it rises. "This is not necessarily a false move," O'Connell said, "but it is now heavily overbought and should, as always when silver does this sort of thing, be treated with caution." Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre. Click here for in-depth analysis of the latest stock market news and events moving stock prices
Yahoo
35 minutes ago
- Yahoo
Trump taps senior Air Force commander for European Command
WASHINGTON (AP) — President Donald Trump is tapping an Air Force fighter pilot with extensive experience as a senior commander in the Middle East to be the next head of U.S. European Command. Lt. Gen. Alex Grynkewich, currently the director of operations for the Joint Chiefs of Staff, would also take over as the supreme allied commander, Europe, if his nomination is confirmed by the Senate. NATO's North Atlantic Council in a statement Thursday said it approved Grynkewich's nomination as SACEUR. The U.S. military's presence in Europe is under scrutiny, as the Trump administration eyes cuts in the force even as the region continues to grapple with Russia's war on Ukraine and the wider effects of the Israel-Hamas war. U.S. warships have been persistently patrolling the Mediterranean Sea to be poised to support operations in support of Israel and the broader effort to secure the Red Sea corridor, where Houthi rebels have attacked commercial and military vessels. There have been ongoing discussions in the Pentagon about slashing the number of U.S. troops across Europe. The Biden administration poured an additional 20,000 U.S. forces into the region — bringing the total to about 100,000 — to help calm escalating fears among NATO allies that they could be Russia's next target. Defense leaders have said there have been no final decisions. Trump and Defense Secretary Pete Hegseth have both made it clear they want NATO to do more to defend its own region and that the U.S. is turning to focus more on China and America's own southern border. In his current job, Grynkewich helps to develop guidance for the combatant commands and serves as a key aide to the chairman of the Joint Chiefs of Staff on military operations around the world. Most recently Grynkewich served as commander of Air Forces in the Middle East, including air operations in support of the conflict in Israel, from 2022 to 2023. And prior to that he was director of operations for U.S. Central Command. He graduated from the U.S. Air Force Academy in 1993, has served as an instructor pilot and was a test pilot for the development of the F-16 and F-22 fighter jets. He has more then 2,300 flight hours.
