Latest news with #Fafo
Yahoo
29-01-2025
- Business
- Yahoo
Howard Lutnick, Trump Commerce secretary pick, says it's 'nonsense' that tariffs cause inflation
President Donald Trump's nominee to lead the Commerce Department, Howard Lutnick, told senators the argument that tariffs cause inflation is "nonsense" during a confirmation hearing on Wednesday. "The two top countries with tariffs, India and China, do have the most tariffs and no inflation," Lutnick noted. "A particular product's price may go up," he conceded, while arguing that levies would not cause broad inflation. "It is just nonsense to say that tariffs cause inflation. It's nonsense." Lutnick testified before members of the Senate Commerce, Science and Transportation Committee ahead of an impending committee and full Senate floor vote to confirm him to the Cabinet position. Inflation, which ticked as high as 9.1% in June 2022 under the Biden administration, became a defining issue in the 2024 election as Trump promised to bring household prices back down. Lutnick also said he prefers "across-the-board" tariffs on a "country-by-country" basis, rather than ones aimed at particular sectors or products. Read On The Fox News App A Victory For Trump's 'Fafo': How The White House Strong-armed One-time Close Ally Colombia Over Immigration "I think when you pick one product in Mexico, they'll pick one product. You know, we pick avocados, they pick white corn, we pick tomatoes, they pick yellow corn. All you're doing is picking on farmers." "Let America make it more fair. We are treated horribly by the global trading environment. They all have higher tariffs, non-tariff trade barriers and subsidies. They treat us poorly. We need to be treated better," Lutnick went on. "We can use tariffs to create reciprocity." He said Trump, a longtime friend, was of a "like mind" that tariffs need to be simple. "The steel and aluminum had 560,000 applications for exclusions," said Lutnick. "It just seems that's too many." Trump recently signed an executive order directing the Commerce Department and the Office of the US Trade Representative to conduct a review of U.S. trade policy and tariff models, with a focus on China. Trump has said he intends to impose a 25% tariff on goods from Canada and Mexico on Feb. 1 amid concerns of mass migration and drug trafficking. He also said he would increase tariffs on China by 10%. Lutnick also sounded off about Europe treating the U.S. industry unfairly. Aoc Roasted Over Post About Colombia Tariffs And Coffee Prices That 'Aged Like Hot Milk' "I think our farmers and ranchers and fishermen are treated with disrespect overseas," he said. "Europe, for example, comes up with all these sort of policies, that our ranchers can't sell steak. If you saw European steer and an American steer, it's laughable. The American steers are three times this size. The steaks are so much more beautiful. "But they make up this nonsensical set of rules so that our ranchers can't sell there." Lutnick said Chinese tariffs "should be the highest." "But the fact that we Americans cannot sell an American car in Europe is just wrong. And it needs to be fixed," he said, "While they're an ally, they are taking advantage of us and disrespecting us. And I would like that to end." His comments echoed those of Trump last week. "The European Union is very, very bad to us," he said. "So they're going to be in for tariffs. It's the only way... you're going to get fairness." The governments of Mexico, Canada and nations in Europe have prepared a list of their own U.S. imports that will face tariffs in a tit-for-tat trade war if Trump follows through on taxing their own goods as they're brought into the U.S. Kaja Kallas, the European Union's top diplomat, said Monday that European nations should unite to use their collective economic force against the U.S. if needed. "As the United States shifts to a more transactional approach, Europe needs to close ranks," she said at a news conference in Brussels. "Europe is an economic heavyweight and geopolitical partner."Original article source: Howard Lutnick, Trump Commerce secretary pick, says it's 'nonsense' that tariffs cause inflation
Yahoo
28-01-2025
- Politics
- Yahoo
Colombia president welcomes first flights of deported migrants after losing public spat with Trump
After teetering on the brink of an all-out trade war with the United States, Colombia welcomed its first flights of deported illegal immigrants, with its president heralding their "dignified" return and insisting they are not criminals. The arrivals are taking place just two days after President Donald Trump threatened crippling tariffs and sanctions on Colombia to punish the country for earlier refusing to accept military flights carrying deportees as part of his sweeping immigration crackdown. Two Colombian Air Force planes carrying deported Colombian nationals arrived in Bogota early on Tuesday, Reuters reported, citing local media. One plane, flying from San Diego, California, brought home 110 Colombians and the other, which departed from El Paso, Texas, brought home 91, the Colombian Foreign Ministry said on X. A Victory For Trump's 'Fafo': How The White House Strong-armed One-time Close Ally Colombia Over Immigration "They are Colombians, they are free and dignified and they are in their homeland where they are loved," Colombia President Gustavo Petro wrote on X with images of the migrants disembarking a flight. Read On The Fox News App "The migrant is not a criminal, he is a human being who wants to work and progress, to live life." The Colombian government hailed the returns as Petro fulfilling his commitments and said it is working on a "structured and accessible credit plan" to support the migrants' reintegration. This weekend, American officials sent two flights of Colombian illegal aliens as part of Trump's ongoing deportation program. Petro rejected the flights, writing that the U.S. cannot "treat Colombian migrants as criminals." Trump immediately clapped back, writing in a Truth Social post he was going to slap 25% tariffs on all goods from Colombia, a travel ban on Colombian government officials and other steep financial sanctions. He said the tariffs would reach as high as 50% by next week and insisted the migrants being sent back were "illegal criminals." At first, Petro retaliated with his own 25% tariffs on U.S. goods coming from Colombia. Petro had insisted he would not accept the return of migrants who were not treated with "dignity and respect" and who had arrived shackled or on military planes. Colombian Leader Quickly Caves After Trump Threats, Offers Presidential Plane For Deportation Flights But amid intense political pressure from within his own government, the former Marxist guerrilla fighter acquiesced to all U.S. demands. The White House confirmed on Sunday that Colombia's president had caved "to all of President Trump's terms, including the unrestricted acceptance of all illegal aliens from Colombia returned from the United States, including on U.S. military aircraft, without limitation or delay," President Trump hailed it as a victory for his "f--- around and find out" [FAFO]-style of governing. After the debacle, the 47th president posted a celebratory AI-generated image of himself dressed as a mobster next to a sign that read "FAFO." Trump officials cheered the deal as a victory and said Trump used Colombia as an example of U.S. power, while Colombian officials have said the agreement is a win for both sides. Dozens of frustrated Colombians had long-awaited visa appointments at the U.S. embassy in Bogota canceled on Monday. Colombia is one of the top recipients of U.S. aid in the world due to a security partnership. Since 2000, Colombia has received more than $13 billion in foreign assistance from the Departments of Defense and State and from the U.S. Agency for International Development (USAID), largely focused on counternarcotics efforts, continued implementation of the government's 2016 peace accord with the FARC rebel group, integration of Venezuelan migrants and refugees, and environmental programs. Fox News' Morgan Phillips, Andrea Margolis, Bill Melugin, Lorraine Taylor, Landon Mion, and Reuters contributed to this report. Original article source: Colombia president welcomes first flights of deported migrants after losing public spat with Trump
