America's Fastest Growing Criminal Enterprise
Investigative Reporter for The Free Press, Madeleine Rowley, uncovered fraud in the sponsor process, which is among a much larger issue of human trafficking occurring on the U.S. border. She explains that transnational criminal organizations took advantage of the relaxed rules under the Biden administration, trafficking minors in the United States at significant rates.
Madeleine reveals to Martha what she's uncovered from her investigations and what she believes will help minimize the crisis.
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Forbes
a few seconds ago
- Forbes
Swiss Watches, Nespresso Pods Among Luxury Imports To Be Taxed Under New 39% Tariff
President Donald Trump proposed one of the world's steepest tariffs on Switzerland late Thursday in a move that could see the price of luxury goods from the country, as well as precision instruments and medical devices, skyrocket if the two countries don't reach a deal by Thursday. A tray of Rolex watches are seen on a dealer's stand at the London Watch Show on March 19, 2022. Getty Images Trump threatened Switzerland with a 31% levy in the spring that Swiss leaders were already calling "incomprehensible" before he raised the tariff to 39%, one of the highest in the world. Switzerland exported almost $61 billion in goods to the U.S. last year—about one sixth of its total exports. Two of the largest imports from Switzerland, gold and pharmaceuticals, are thought to be excluded from the new tariff but other items like luxury jewelry, coffee capsules, Swiss chocolate and precision instruments are subject to the levy. Switzerland is home to the world's finest watch makers—like Rolex, Patek Philippe, Omega, TAG Heuer and Audemars Piguet—as well as the Lindt chocolate company, Nestle's Nespresso coffee, precision instrument maker Mettler Toledo and medical device manufacturers Alcon and Sonova. Most Swiss watch companies are not publicly traded but Rolex reseller Watches of Switzerland Group, which is listed on the London stock exchange, saw shares fall more than 9% on the news. Richemont, which owns watch brands Jaeger-LeCoultre and Cartier, among others, was down 3% late Friday morning and Swatch, the parent company of Omega and Longines, also dipped slightly. Get Forbes Breaking News Text Alerts: We're launching text message alerts so you'll always know the biggest stories shaping the day's headlines. Text 'Alerts' to (201) 335-0739 or sign up here : If the rate sticks. The tariff could still be negotiated down before Trump's Aug. 7 deadline, and the deadline could be extended as Trump has done before. The European Union negotiated a 15% tariff and British goods are subject to a 10% levy. Trump rolled out a broad package of tariffs via an executive order in April on what he called "Liberation Day." He imposed a 10% baseline tariff on imports from almost every country and said country-specific tariff rates would go into effect April 9. Following a global market crash, however, he suspended the April 9 implementation date and individual negotiations began. Deals with trade partners like the United Kingdom, South Korea, Japan and European Union have been solidified and Trump late Thursday re-issued a list of country-specific tariffs now scheduled to start Aug. 7. The highest proposed rates were slapped on Syria (41%), Laos (40%) and Myanmar (40%), followed by Switzerland, Iraq (35%) and Serbia (35%). Big Number 14%. That's how much the price of a yellow gold Rolex Daytona has already increased for American buyers since 2024, the Wall Street Journal reported, and they could get much more expensive under the proposed levy. Tangent The U.S. is Switzerland's top foreign watch market and exports to America have grown 14% each year since 2019, according to the Journal, three times faster than the worldwide average. American collectors are younger than their global counterparts and more interested in expensive models—particurly those made by Rolex, Patek Philippe and Audemars Piguet. In April, when Trump first announced the impending tariffs, Swiss watch exports surged 18.2% and shipments to the United States rose 149%, according to the Federation of the Swiss Watch Industry. Exports have fallen every month since, dropping 9.5% in May and 5.6% in June, the latest data available. Further Reading Forbes Trump Announces New Global Tariff Rates—As He Pushes Back Start Date Again By Siladitya Ray Forbes These Are The Trump Tariffs Launching Friday: Far Short Of The 90 Promised Deals By Sara Dorn Forbes Could Trump's Tariffs Still Be Overturned? What To Know As Court Hears Arguments Today—Right Before Aug. 1 Deadline By Alison Durkee
Bloomberg
a few seconds ago
- Bloomberg
Trump's Shock 39% Tariff Crashes Swiss Holiday
Switzerland's political and business elite are reeling from Donald Trump's shock punitive tariffs that landed on the national holiday that is a highlight of the country's summer calendar. Swiss were shocked at Trump's decision to slap tariffs of 39% on all their imports, among the most dramatic trade announcements so far. The government had been confident it could avoid such severe measures. The stakes are enormous. The country's goods exports to the US totaled more than $63 billion in 2024, notching up the 13th biggest trade deficit for the world's largest economy — a tally likely to have irked Trump. For their own part, the Swiss claim to be the seventh-largest foreign investor in America.
New York Times
a few seconds ago
- New York Times
‘Can We Extradite Him?' How U.S. Officials Grappled With the Release of a Triple Murderer
By the time the United States was extracting a group of Americans and legal U.S. residents from a prison in Venezuela last month, some State Department officials had come to an uncomfortable realization. One of the prisoners had been convicted of murdering three people in Spain in 2016. And soon he would be on his way home, having his photo taken alongside those deemed by the United States to have been wrongfully imprisoned in Venezuela. How were they going to explain that to the American people? On July 18, the day of the prisoner release, U.S. officials tried to figure out whether and how to acknowledge that Washington was bringing home Dahud Hanid Ortiz, whose case seemed to undercut President Trump's claims of keeping the worst of the worst out of the United States. In an internal email exchange that was obtained by The New York Times, State Department officials debated whether to include Mr. Hanid Ortiz in a public statement to be published that afternoon about the people being released, 10 including him. 'We had understood that we don't want to refer to him as a hostage or wrongfully detained, which is why we said nine,' a press official wrote. Michael Kozak, the career official who oversees diplomacy in the Western Hemisphere, replied: 'Well then we probably should not have asked for him. Can we now extradite him to Spain? We did get the S.O.B. released.' Want all of The Times? Subscribe.
