Latest news with #Dollars
Mint
11 hours ago
- Politics
- Mint
Donald Trump says US court ruling on tariffs was wrong, political; hopes Supreme Court reverses ‘horrible' decision
US President Donald Trump said on Thursday that the US Court of International Trade's order to block import tariffs was "so wrong" and "so political." In a long post on TRUTH social media, Trump said, "Hopefully, the Supreme Court will reverse this horrible, Country threatening decision, QUICKLY and DECISIVELY." The US President's statement came as a federal appeals court temporarily reinstated the most sweeping of Trump's tariffs on Thursday. The fresh ruling by the appeals court's came a day after a US trade court ruled that Trump had exceeded his authority in imposing the duties and ordered an immediate block on them. The United States Court of Appeals for the Federal Circuit in Washington said it was pausing the lower court's ruling to consider the government's appeal, and ordered the plaintiffs in the cases to respond by June 5 and the administration by June 9. Reacting to this, Trump said in the social media post, 'The US Court of International Trade incredibly ruled against the United States of America on desperately needed Tariffs but, fortunately, the full 11 Judge Panel on the U.S. Court of Appeals for the Federal Circuit Court has just stayed the order by the Manhattan-based Court of International Trade.' Trump slammed the judges who had blocked the tariffs in the first place saying, "Where do these initial three Judges come from? How is it possible for them to have potentially done such damage to the United States of America? Is it purely a hatred of 'TRUMP?' What other reason could it be?" "I am so disappointed in The Federalist Society because of the bad advice they gave me on numerous Judicial Nominations. This is something that cannot be forgotten! With all of that being said, I am very proud of many of our picks, but very disappointed in others. They always must do what's right for the Country!," Trump said. He said, 'The horrific decision stated that I would have to get the approval of Congress for these Tariffs. In other words, hundreds of politicians would sit around DC for weeks, and even months, trying to come to a conclusion as to what to charge other Countries that are treating us unfairly. If allowed to stand, this would completely destroy Presidential Power — The Presidency would never be the same! This decision is being hailed all over the World by every Country, other than the United States of America.' Trump contended that "radical Left Judges, together with some very bad people, are destroying America." "Under this decision, Trillions of Dollars would be lost by our Country, money that will, MAKE AMERICA GREAT AGAIN. It would be the harshest financial ruling ever leveled on us as a Sovereign Nation. The President of the United States must be allowed to protect America against those that, are doing it Economic and Financial harm. Thank you for your attention to this matter!," Trump said. Hailing his decision on global tariffs, Trump said, "...it is only because of my successful use of Tariffs that many Trillions of Dollars have already begun pouring into the USA from other countries, money that, without these Tariffs, we would not be able to get." "It is the difference between having a rich, prosperous, and successful United States of America, and quite the opposite," he said.
Yahoo
17 hours ago
- Business
- Yahoo
Trump dangles free missile defense, if Canada becomes the 51st state
Trump dangles free missile defense, if Canada becomes the 51st state originally appeared on TheStreet. The crypto market traded flat on Wednesday as Bitcoin hovered around $109,000 and Ether stayed just above $2,670. But outside the charts, geopolitical tension took center stage after former U.S. President Donald Trump delivered an eyebrow-raising offer to Canada: become the 51st state, and access missile defense for free. Trump said Canada would otherwise have to pay $61 billion to join his proposed "Golden Dome" missile defense system, a massive $175 billion project he claims will be operational by the end of his term in 2029. 'I told Canada, which very much wants to be part of our fabulous Golden Dome System, that it will cost $61 Billion Dollars if they remain a separate, but unequal, Nation,' Trump posted on Truth Social. 'But (it) will cost ZERO DOLLARS if they become our cherished 51st State. They are considering the offer!' Canadian Prime Minister Mark Carney confirmed that high-level talks had been held over the defense system but brushed off Trump's statehood suggestion during a recent visit to the White House, saying his country was 'never for sale.' Despite existing defense coordination through NORAD, the proposal has sparked fresh friction between the two North American allies — even as Trump tries to sweeten the deal. There was no immediate official response from Canada following Trump's latest statement. Geopolitical tensions — especially those involving major powers like the U.S. — often create uncertainty in traditional markets, which can spill over into crypto. When events like Trump's $61 billion ultimatum to Canada or broader military defense moves make headlines, investors tend to reassess global stability. This can push some toward crypto as a hedge, especially Bitcoin, which is often viewed as "digital gold" during times of fiat or geopolitical risk. However, this shift isn't always immediate or predictable — it depends on how serious and prolonged the tensions are. At the same time, rising geopolitical friction can also lead to tighter regulations, cross-border capital controls, or increased surveillance, all of which impact how crypto moves globally. For example, any hint that Canada or the U.S. might clamp down on capital outflows or enforce stricter cross-border payment rules could drive local users to shift funds into crypto. So while crypto didn't react sharply to the Canada–Trump tension this week, long-term shifts in diplomatic alliances and defense posturing can subtly reshape the global crypto landscape. Trump dangles free missile defense, if Canada becomes the 51st state first appeared on TheStreet on May 28, 2025 This story was originally reported by TheStreet on May 28, 2025, where it first appeared.
Newsweek
a day ago
- Business
- Newsweek
June Social Security Payments Set to Hit New Record
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The Social Security Administration is poised to make history in June 2025 as monthly retirement benefits for U.S. workers are expected to exceed $2,000 for the first time in the program's nine-decade history. The average retired-worker benefit hit $1,999.97 in April, and ongoing trends suggest the June statistical snapshot will reflect a breakthrough past the $2,000 threshold. The milestone reflects not only an increasing reliance on Social Security as a primary source of retirement income but also the cumulative effects of nominal wage growth and near-annual cost-of-living adjustments (COLAs). Despite the rise in dollar amounts, beneficiaries are seeing the value of these payments eroded by inflation and structural issues in how COLAs are calculated. Why It Matters The jump in average monthly payments marks a major symbolic and financial moment for the Social Security program, which provides income to more than 70 million Americans, including retired workers, the disabled, and survivors. "No other federal agency has a greater impact on the American people," Public Affairs Specialist Sue Denny claimed in a recent Social Security blog post. Gallup surveys over the past two decades show that between 80 to 90 percent of retirees depend on Social Security to meet living expenses. Stock image/file photo: A Social Security card with U.S. Dollars and a Treasury check. Stock image/file photo: A Social Security card with U.S. Dollars and a Treasury check. GETTY A notable increase occurred earlier in the year, with the average monthly payment for retirees rising from $1,980.86 in February to $1,999.97 in April, which could indicate a rise in new benefit claims or other demographic changes in the beneficiary pool. What To Know The Social Security Administration's Monthly Statistical Snapshot provides official data on benefit disbursements and category averages. In April, $128.7 billion was paid out across all beneficiaries. Retired workers accounted for more than 52.5 million of the over 69 million recipients. Benefit amounts vary based on age of retirement and earnings history. The maximum 2025 benefit ranges from $2,831 at age 62 to $5,108 at age 70. June payments will be distributed as follows: June 3 : For those on benefits before May 1997 or receiving Supplemental Security Income. : For those on benefits before May 1997 or receiving Supplemental Security Income. June 11 : For recipients born between the 1st and 10th of any month. : For recipients born between the 1st and 10th of any month. June 18 : For recipients born between the 11th and 20th. : For recipients born between the 11th and 20th. June 25: For recipients born between the 21st and 31st. While nominal benefits rise, the real value is declining. Retirees face a 20 to 36 percent loss in purchasing power over the last two decades due to inadequacies in how COLAs are indexed. The CPI-W, used to calculate COLAs, reflects inflation patterns for working-age Americans, not retirees, leading to underweighting of costs like housing and medical care. The psychological milestone of reaching a $2,000 average, while significant, may not reflect a material improvement in retirees' standard of living without broader reforms to benefit calculation methods and inflation indexing. What's Next The Social Security Administration will release its June snapshot in the coming weeks, expected to confirm the average payout exceeding $2,000. Attention will then turn to the 2026 COLA, forecast to be approximately 2.3 percent, with the official figure due in October. SSA funding issues and demographic shifts continue to pressure the program. Reform discussions may increasingly focus on adjusting inflation measures or benefit formulas to preserve real value for retirees.
Vancouver Sun
2 days ago
- Politics
- Vancouver Sun
Trump says Canada's Golden Dome membership costs $61 billion — or free as 51st state
Within hours of Canada's sovereignty being made abundantly clear by its King in a historic and symbolic speech from the throne in the nation's capital, U.S. President Donald Trump once again made a pitch for Canada to become the 51st state. In a post to Truth Social, he said the cost to join in the 'fabulous Golden Dome System' — the multilayered missile defence program to counter foreign threats to America, even those coming from space — would be US$61 billion should Canada choose to remain 'a separate, but unequal, Nation.' But join the U.S. as its 'cherished 51st state' and protection from the defence program will cost Canada 'zero dollars.' 'They are considering the offer,' Trump wrote. ( @realDonaldTrump - Truth Social Post ) ( Donald J. Trump - May 27, 2025, 5:41 PM ET ) I told Canada, which very much wants to be part of our fabulous Golden Dome System, that it will cost $61 Billion Dollars if they remain a separate, but unequal, Nation, but will cost ZERO… Prime Minister Mark Carney's office didn't say whether it received such an offer when contacted by National Post, but said discussions on NORAD and the Golden Dome have been part of 'wide-ranging and constructive discussions' Carney and his ministers have had with U.S. counterparts. Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. But while acting on his citizen-driven mandate to establish a new relationship with the U.S., his office said, 'the Prime Minister has been clear at every opportunity, including in his conversations with President Trump, that Canada is an independent, sovereign nation, and it will remain one.' National Post has contacted the White House press secretary and is awaiting a response. The president first announced the Golden Dome initiative in the Oval Office last week , remarking during his address and in questioning from reporters that 'Canada wants to be part of it' and will 'pay their fair share.' 'We are dealing with them on pricing,' he said. In a statement to the Canadian Press at the time, a spokesperson for the prime minister confirmed talks on the Golden Dome, but didn't share costs or specifics. The project has already been awarded its first $25 billion with the passage of Trump's 'One Big Beautiful Bill Act' — legislation that covers reforms in several sectors, including defence. Carney has made multiple commitments on defence spending, the most recent being in Tuesday's throne speech, which confirmed Canada would join ReArm Europe, the European Commissions's plan to give member nations more 'financial flexibility' to mobilize a combined 800 billion euros (CAD$1.25 trillion) for a 'massive ramp-up of defence spending.' Carney later told CBC he hopes to finalize that deal by July 1. 'Seventy-five cents of every dollar of capital spending for defence goes to the United States. That's not smart,' he said. As part of a pledge that Canada would hit NATO's defence spending target of two per cent of gross GDP by 2030, the Liberals' election platform included $130 billion in new defence spending over the next four years. Canada's position as one of just eight member nations that aren't hitting the mark has been a bone of contention from multiple U.S. administrations , not just Trump's. When the pair had their first face-to-face at the White House in early May, Trump remarked that 'Canada is stepping up the military participation.' On the heels of that meeting, Pete Hoekstra, the new U.S. Ambassador to Canada, told National Post that both his and Trump's standpoint, '51st state's not coming back.' 'The president may bring it up every once in a while, but he recognizes it's not going to happen unless the prime minister engages with the president,' he added. Last week, Hoekstra told the Hill Times that while he appreciates Canadians' concerns about Trump's continued rhetoric, he's not going to be distracted by it. 'I'm moving forward. The president sent that message clearly when he was with the prime minister. Now we're waiting to see how Canada responds,' he said regarding the request for a proposal on how it wants to proceed on future trade agreements. Hoekstra said he was 'not very sympathetic' to Canadians feeling slighted, suggesting the U.S. is 'hurt, too,' citing Canada's lengthy NATO spending shortfall. 'International diplomacy is tough. The world is a tough place. Getting prosperity, security, and safety for people, which are the top priorities of the president, that's hard,' he said. 'So, no, I'm not very sympathetic.' Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark and sign up for our daily newsletter, Posted, here .
The Sun
2 days ago
- Business
- The Sun
Trump says 'Golden Dome' free for Canada - if it joins US
WASHINGTON: President Donald Trump said Tuesday that Canada could join his proposed 'Golden Dome' missile defense system for free -- but only if it becomes part of the United States. Otherwise it would cost Canada $61 billion to be part of the system, said Trump, who has repeatedly called for the United States' northern neighbor to become the 51st state. Canada has expressed interest in joining the missile system -- plans for which Trump unveiled last week to defend against a wide array of enemy weapons -- but has firmly rejected any loss of sovereignty. 'I told Canada, which very much wants to be part of our fabulous Golden Dome System, that it will cost $61 Billion Dollars if they remain a separate, but unequal, Nation,' Trump posted on his Truth Social network. 'But (it) will cost ZERO DOLLARS if they become our cherished 51st State. They are considering the offer!' There was no immediate response from Canada to Trump's claims. Trump announced plans for the 'Golden Dome' system a week ago, saying it would eventually cost around $175 billion and would be operational by the end of his term in 2029. Experts say the scheme faces huge technical and political challenges, and could cost far more than he has estimated to achieve its goals. Trump also said at the time that Canada was interested in joining the missile system. Canadian Prime Minister Mark Carney then confirmed that his country had held 'high level' talks on the issue. NATO members Canada and the United States are partners in continental defense through the North American Aerospace Defense Command (NORAD). But the scheme now seems set to add to the tensions that Trump has sparked with Canada. Carney politely but firmly dismissed Trump's calls for Canada to become part of the United States when he visited the White House earlier this month, saying his country was 'never for sale.' The Canadian premier and Trump did however appear to smooth over some of the strains over the tariffs that the US president has slapped on Ottawa.
