Latest news with #American-made
USA Today
10 hours ago
- Business
- USA Today
Trump wants Congress to increase tax cuts in major policy bill
Trump wants Congress to increase tax cuts in major policy bill Show Caption Hide Caption Moody's pushes US out of top triple-A rating club, citing debt Moody's downgraded the U.S. sovereign credit rating on May 16 due to concerns about the nation's growing $36-trillion debt pile, in a move that could complicate President Donald Trump's efforts to cut taxes and send ripples through global markets. WASHINGTON – President Donald Trump said he hopes Congress will slash taxes even more than the reductions included in the massive tax and policy bill moving through Congress. 'I'd like to see a bigger cut in taxes,' Trump told reporters during a May 30 news conference with his billionaire adviser, Elon Musk. "It's going to be jiggered around a little bit." Musk, who is stepping back from his White House role, has said he's disappointed that the bill will increase the budget deficit. Increasing the tax cuts would add to the deficit unless they're offset with spending cuts. The House passed legislation last week that would add an estimated $3.8 trillion to the national debt over the next 10 years, fueled by a permanent extension of the 2017 income tax cuts that Trump signed into law during his first term. That bill also includes temporary tax breaks for tips, overtime, seniors and buyers of American-made cars. There is also a boosted child tax credit, among other benefits. Next up is the U.S. Senate, which will begin its work on the legislation next week with several Republicans already openly pushing for changes to the House bill's approach to everything from Medicaid to green energy subsidies, and overall leaders in Congress, namely House Speaker Mike Johnson, have set a self-imposed deadline on July 4 to complete work on the bill and send it to Trump's desk for signature into law.
Associated Press
13 hours ago
- Business
- Associated Press
Simmitri Inc. Expands Access to U.S.-Made Solar Technologies Amid Supply Chain Concerns
Simmitri Inc. Offers Bay Area Property Owners a Smart, Tariff-Resistant Solar Option with Trusted American-Made Products and GAF Energy Partnership 'Our clients are asking important questions about system availability, pricing stability, and long-term performance... We've listened...'— Jonathan Garcia, CEO SAN JOSE, CA, UNITED STATES, May 30, 2025 / / -- As U.S. property owners face growing uncertainty surrounding solar tariffs and global supply chain disruptions, Simmitri Inc., a Bay Area-based solar and roofing company, is responding with a strategic shift toward American-made solar technologies. The company has strengthened its supplier network with leading domestic manufacturers, including GAF Energy, Silfab Solar, Qcells USA, Tesla Energy, Enphase, and IronRidge. This move allows Simmitri to offer residential and commercial customers access to high-quality solar systems that are less vulnerable to international trade fluctuations. With nearly 30 years of service in California's energy sector, Simmitri is reinforcing its commitment to resilient, future-proof solar investments. ________________________________________ Building Certainty in Uncertain Times Tariff volatility and shipping backlogs have complicated solar procurement for many property owners. 'Our clients are asking important questions about system availability, pricing stability, and long-term performance,' said Jonathan Garcia, CEO of Simmitri Inc. 'We've listened—and responded by partnering with U.S.-based manufacturers to mitigate these risks.' Simmitri's current technology lineup now features American-made products known for consistent performance, long warranties, and local availability. These include: • GAF Energy Timberline Solar™ Shingles – Made in the U.S., these nailable shingles integrate solar power directly into roofing materials, combining aesthetics with energy production. • Silfab Solar – Manufactured in Washington state, Silfab panels are designed for durability and tailored to North American conditions. • Qcells USA – Operating one of the largest solar manufacturing plants in Georgia, Qcells supports both residential and commercial energy projects. • Tesla Energy – Tesla's U.S.-assembled solar panels and Powerwalls offer sleek design and robust energy storage for homeowners. • Enphase Energy – Known for its advanced microinverters and storage systems, Enphase products are assembled in the U.S. and offer superior monitoring and reliability. • IronRidge – California-based IronRidge supplies durable solar racking solutions for structural integrity and code compliance. ________________________________________ Domestic Sourcing Still Faces Constraints While domestic manufacturing reduces reliance on foreign imports, industry-wide demand is placing pressure on available stock. Labor shortages and raw material delays are contributing to extended lead times—even for U.S.-made components. 'Just because it's made in America doesn't mean it's immune to demand spikes,' Garcia added. 'We're encouraging customers to plan ahead and reserve materials early to avoid installation delays.' ________________________________________ Commitment to Long-Term Energy Solutions Simmitri's full range of services spans beyond solar panels. With a track record of 5-star reviews and community impact, the company offers: • Residential & Commercial Solar Installations • Battery Storage Systems • EV Charging Station Installation • Smart Energy Consulting • GAF Solar Roofing Systems • Roof Installation, Maintenance, and Replacement Operating across San Jose, Santa Clara, Campbell, Los Gatos, and surrounding Bay Area cities, Simmitri's team of experts continues to support the shift toward cleaner, more reliable energy sources. Jonathan Garcia Simmitri Inc. +1 408-779-3333 email us here Visit us on social media: Instagram Facebook YouTube X Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Saudi Gazette
18 hours ago
- Business
- Saudi Gazette
China trade talks have stalled, US treasury secretary says
WASHINGTON — Trade talks between the US and China are "a bit stalled", US Treasury Secretary Scott Bessent has said. His comment comes less than three weeks after a temporary trade truce was agreed between the world's two largest economies, with both agreeing to reduce tit-for-tat tariffs. Bessent told Fox News on Thursday: "I think that given the magnitude of the talks, given the complexity, that this is going to require [leaders of both the countries] to weigh in with each other". Donald Trump's global tariff regime was dealt a blow on Wednesday following a ruling that he had exceeded his authority. His plans have been temporarily reinstated after the White House appealed the decision. Both the US and China confirmed they would reduce tariffs imposed on each other's imports earlier this month, following talks in Switzerland. The deal involved both nations cancelling some tariffs altogether and suspending others for 90 days by 14 said talks on a further deal had lost momentum, but stressed that they were continuing."I believe that we will be having more talks with [China] in the next few weeks and I believe we may at some point have a call between the president and [Chinese President Xi Jinping]," Bessent said on added that the pair had "a very good relationship" and he was "confident that the Chinese will come to the table when President Trump makes his preferences known".Under the deal struck earlier this month, the US lowered tariffs imposed on goods from China from 145% to 30%.China's retaliatory tariffs on US goods dropped from 125% to 10%.The US President has argued imposing tariffs on foreign goods would encourage US consumers to buy more American-made goods, bringing back manufacturing jobs while increasing the amount of tax revenue have been used by the Trump administration as leverage in negotiations as it seeks to reduce trade deficits with other nations.A delegation from Japan are continuing trade talks with their US counterparts in Washington on said "a couple" of US trade deals were "very close", but "a couple of them are more complicated".Trump's tariff regime remains in the balance following the decision by the US Court of International Trade, which ruled that Trump had overstepped his power by imposing the analysts believe it will mean countries will be less likely to rush to secure trade deals with the US.A federal appeals court has granted a bid from the White House to temporarily suspend the lower court's order, which Trump described as "horrific"."Hopefully, the Supreme Court will reverse this horrible, Country [sic] threatening decision, QUICKLY and DECISIVELY," he wrote on his Truth Social platform. — BBC
Yahoo
18 hours ago
- Business
- Yahoo
China trade talks have stalled, US treasury secretary says
Trade talks between the US and China are "a bit stalled", the US Treasury Secretary Scott Bessent has said. His comment comes less than three weeks after a temporary trade truce was agreed between the world's two largest economies, with both agreeing to reduce tit-for-tat tariffs. Bessent told Fox News on Thursday: "I think that given the magnitude of the talks, given the complexity, that this is going to require [leaders of both the countries] to weigh in with each other". Donald Trump's global tariff regime was dealt a blow on Wednesday following a ruling that he had exceeded his authority. His plans have been temporarily reinstated after the White House appealed the decision. Both the US and China confirmed they would reduce tariffs imposed on each other's imports earlier this month, following talks in Switzerland. The deal involved both nations cancelling some tariffs altogether and suspending others for 90 days by 14 May. Bessent said talks on a further deal had lost momentum, but stressed that they were continuing. "I believe that we will be having more talks with [China] in the next few weeks and I believe we may at some point have a call between the president and [Chinese President Xi Jinping]," Bessent said on Thursday. He added that the pair had "a very good relationship" and he was "confident that the Chinese will come to the table when President Trump makes his preferences known". Under the deal struck earlier this month, the US lowered tariffs imposed on goods from China from 145% to 30%. China's retaliatory tariffs on US goods dropped from 125% to 10%. The US President has argued imposing tariffs on foreign goods would encourage US consumers to buy more American-made goods, bringing back manufacturing jobs while increase the amount of tax revenue raised. They have been used by the Trump administration as leverage in negotiations as it seeks to reduce trade deficits with other nations. A delegation from Japan are continuing trade talks with their US counterparts in Washington on Friday. Bessent said "a couple" of US trade deals were "very close", but "a couple of them are more complicated". Trump's tariff regime remains in the balance following the decision by the US Court of International Trade, which ruled that Trump had overstepped his power by imposing the duties. Some analysts believe it will mean countries will be less likely to rush to secure trade deals with the US. A federal appeals court has granted a bid from the White House to temporarily suspend the lower court's order, which Trump described as "horrific". "Hopefully, the Supreme Court will reverse this horrible, Country [sic] threatening decision, QUICKLY and DECISIVELY," he wrote on his Truth Social platform. Trump tariffs can stay in place for now, appeals court rules Markets rise as US and China agree to slash tariffs Tariffs court fight threatens Trump's power to wield his favourite economic weapon
Yahoo
a day ago
- Business
- Yahoo
What Musk's Exit Means for DOGE and the Trump Administration
Musk, who has spent nearly his entire career working in Silicon Valley, has also made no secret of his frustrations with Washington. Credit - Jim Watson/AFP via Getty Images When Elon Musk launched into his government crusade with a chainsaw in hand at the Conservative Political Action Conference in February, few in Washington understood just how disruptive his tenure would become. But three months later, as the billionaire entrepreneur is set to step down from his role as the most visible face behind the Department of Government Efficiency (DOGE), he leaves behind a complicated legacy that includes thousands of layoffs, the evisceration of government agencies, and frequent clashes with top members of the Trump Administration. Musk also leaves Washington well short of his goal of reducing federal spending by $1 trillion, only having cut around $175 billion. Musk's role working for President Donald Trump was always intended to be temporary, and he had recently expressed interest in returning his focus to his businesses. But his departure, announced late Wednesday on X, the social platform he owns, marks a striking turning point for the federal government's ambitious cost-cutting agency he helped define. 'The @DOGE mission will only strengthen over time as it becomes a way of life throughout the government,' Musk wrote of his efforts to cut federal spending. He added that his 'scheduled time' as a special government employee had come to an end, since he is not permitted to work more than 130 days in a 365-day period under that designation. Here's what to know about the future of DOGE without Musk. As a special government employee, Musk was only permitted to serve in the Trump Administration for 130 days. That deadline was set to expire on Friday, May 30. Musk, who has spent nearly his entire career working in Silicon Valley, has also made no secret of his frustrations with Washington. He recently told The Washington Post that the 'federal bureaucracy situation is much worse' than he expected, and it was 'an uphill battle trying to improve things in D.C., to say the least.' He added in an interview with Ars Technica that 'I probably did spend a bit too much time on politics' and that he intentionally 'reduced' his involvement 'significantly in recent weeks.' Read more: Revisiting Elon Musk's Most Controversial Moments in the White House Trump had also clashed with top White House officials during his tenure in the government. In April, he criticized White House trade adviser Peter Navarro over the sweeping tariffs Trump had imposed on trading partners. In a series of posts on X, Musk called Navarro a 'moron' and added that Tesla 'has the most American-made cars. Navarro is dumber than a sack of bricks.' He followed with an apology, saying the comparison was 'so unfair to bricks.' His exit also comes one day after he publicly criticized Trump's $2.2 trillion domestic spending bill that passed the House last week, saying he was 'disappointed' that it would increase the federal deficit. 'I think a bill can be big or it could be beautiful,' Musk told CBS News. 'But I don't know if it could be both.' The Congressional Budget Office has said that the bill's tax provisions would increase federal deficits by $3.8 trillion over the decade, while cuts to Medicaid, food stamps and other services would only reduce spending by slightly more than $1 trillion over the same period. White House Press Secretary Karoline Leavitt on Thursday thanked Musk 'for getting DOGE off the ground' and announced that 'the efforts to cut waste, fraud and abuse will continue' after Musk's departure. Musk's once commanding presence in the Trump Administration appeared to diminish in recent weeks. He had previously appeared with Trump in the Oval Office and his Cabinet meetings, often donning the President's signature MAGA gear. Trump had even bought a Tesla that he showed for cameras on the White House lawn as protests and demonstrations against Musk's company began gaining steam. Tesla's stock slid significantly amid concerns that his unpopularity was damaging the electric-vehicle maker's brand. Musk announced he would pivot back to running his companies '24/7' now that he's finished with DOGE, claiming 'I must be super focused on X/xAI and Tesla.' He also vowed to substantially cut back his political spending in future elections after he pumped nearly $290 million into the 2024 election helping Trump and other Republican candidates. "I think in terms of political spending, I'm going to do a lot less in the future," Musk said on May 20. "I think I've done enough." The U.S. DOGE Service, launched by executive order on Trump's first day back in office, was created to eradicate what the White House called waste, fraud and abuse from the government—one of the President's campaign promises. Trump tapped Musk, the world's richest person, to lead the effort after he donated more than $290 million to help his campaign and other Republican candidates. (In later court filings the government argued that Amy Gleason was DOGE's administrator, though Musk had been the public face of DOGE). Musk's unorthodox—and often secretive—slash-and-burn tactics often sowed chaos during his tenure in the government. Early on, he was criticized for sending his team of DOGE representatives—mostly young engineers—into federal buildings to gain access to sensitive internal systems. It was part of his effort to shutter agencies that Musk and others in the Administration disliked, including the U.S. Agency for International Development (USAID) and the Consumer Finance Protection Bureau (CFPB). Those efforts wreaked havoc on federal workers and prompted a litany of lawsuits seeking to rein in Musk's chainsaw, many of them questioning the legality of DOGE's sweeping access to confidential data and the dismantling of agencies. Critics also argued that the government was consolidating too much power under Musk, a private citizen. His efforts to reshape the government also led to more than 200,000 federal workers and contractors being laid off. The firings began after the government's offer for federal workers to accept a so-called buyout—an offer initiated by Musk allies at the Office of Personnel Management—expired on Feb. 12. Musk later introduced a controversial requirement that employees send emails listing five things they accomplished each week, an effort he said would increase accountability. On cost-cutting measures, the DOGE receipts posted to its website show it has terminated more than 10,000 federal contracts it deems unnecessary or wasteful, including high-profile agreements related to federal technology infrastructure and healthcare programs. The contracts span around 40 federal departments and agencies, according to DOGE, totaling roughly $32 billion of the $175 billion it claims to have saved. Musk had originally said he planned for $1 trillion in annual spending cuts. White House officials say that DOGE will continue following Musk's departure, but are yet to announce details on its revised leadership structure. Leavitt, the press secretary, said that DOGE will be led by 'each and every member of the President's cabinet and the President himself.' She added that the goal remains the same: to cut waste, fraud, and abuse from the government. Some have speculated that Russell Vought, director of the Office of Management and Budget known for his role drafting the conservative Project 2025 agenda, could soon take the helm of DOGE. The longtime Trump ally and budget guru worked closely with Musk on the initiative, leading efforts to cut agency regulations and pushing a controversial idea in favor of Trump's authority to impound funds. The agency is scheduled to sunset in 2026. The White House declined to comment when asked if Musk would retain an informal advisory role. Musk confirmed that DOGE will continue without him: 'Is Buddha needed for Buddhism?' he asked reporters in the White House. 'Buddha isn't alive anymore. You wouldn't ask the question: 'Who would lead Buddhism?' Write to Nik Popli at
