Latest news with #Trump-promised
Yahoo
12-02-2025
- Politics
- Yahoo
Red state education officials eager for end of Department of Education
Republican states are embracing the idea of a future with no federal Department of Education, preparing plans for its Trump-promised demise and voicing confidence their own agencies can pick up the slack. President Trump has long called for the dismantling of the Education Department, and he's reportedly eyeing executive actions to gut its major functions while simultaneously pushing lawmakers to perform the coup de grâce. The heads of the education departments in multiple GOP-led states describe the move as a potential opportunity to get rid of red tape around funding and burdensome reporting requirements on their schools. The Trump administration is 'providing states greater control over the education of the children in their states,' said Frank Edelblut, the Republican commissioner of the New Hampshire Department of Education. Each state has 'different needs in order to serve our communities, to meet the educational objectives and needs of our children in our state,' Edelblut said. 'And so, we may have to do things differently. And so, I think, really, the conversation around providing states greater control over education is a really important and a healthy one.' Megan Degenfelder, Wyoming's GOP state superintendent of public instruction, said that Trump following through on the promise to eliminate the department 'really aligns with my belief that education policy should be returned to the States, allowing for more localized and effective decision-making.' The long-running fight over the federal department exploded last week after reports of Trump's plans came to light and Democratic lawmakers were locked out of the agency's headquarters as they were demanding a meeting with the acting secretary to discuss what the plans are inside the department. Linda McMahon, Trump's pick for Education secretary, is scheduled for her confirmation hearing on Thursday, and the potential destruction of her would-be job is sure to be a leading topic of senators' questions. While the Department of Education only makes up around 10 percent of K-12 school funding, it also runs numerous programs to assist states and protect students. Democrats' concerns around GOP plans for the department include future cuts and changes to programs such as Title I, which helps disadvantage schools, the Individuals with Disabilities Education Act (IDEA) and the department's Office of Civil Rights. 'A productive partnership with and continued funding from the federal government are essential for North Carolina's students and schools,' said North Carolina Superintendent of Public Instruction Maurice Green (D). 'About $1.2 billion for North Carolina public schools comes from the U.S. Department of Education annually,' with the majority of funding going to Title I and IDEA, Green added. 'The complete loss of this funding would be detrimental to students and result in the loss of thousands of educator jobs.' But the programs some are most concerned about are the ones that Republican states seem most excited to take over. Edelblut told The Hill that on Title I, every year he hears from school leaders who 'think that the way that those funds are being distributed is not actually serving the best needs of our economically disadvantaged students, and that there may be a better way within the state of New Hampshire to allocate that.' Trump is reportedly looking to slash Education programs not written into law and vastly cut down the number of employees at the agency. The Institute of Education Sciences, the research arm of the department, appears to be among the first targeted for cuts, as it recently cancelled 169 government contracts. Experts speculate that the powerful Office of Civil Rights, which investigates discrimination cases against schools, could be moved inside the Department of Justice. 'I think it would be helpful to alleviate the burdensome reporting' that office currently requires 'and allow school administrators to focus on being instructional leaders,' said Montana Superintendent of Public Instruction Susie Hedalen (R), adding that the reports schools are made to fill out for the federal department are on top of the 'intense program' Montana already has for the issue through their own attorney general's office. 'We're already ensuring that things are being handled appropriately, and those [federal] reports are often very out-of-date and and not actually helpful in our work,' Hedalen said. Ryan Walters, the Republican state superintendent for Oklahoma who has vocally embraced Trump's agenda, is particularly looking forward to taking charge of the nutrition of his schools and special education. 'Special education has been one where the federal government continues to put red tape on this, and instead of helping those kids with special needs […] it becomes all this red tape,' said Walters, who used to work in a special education classroom. 'It becomes all this paperwork, rather than telling states, 'Listen, you need to make sure that these kids are getting a great education.'' The Hill reached out to the education departments in all 50 states for this story. Most either didn't respond or declined to comment, with many saying they were waiting for more concrete plans on the matter from the federal government. Trump's promise to eliminate the Department of Education is not possible without an act of Congress. And although Republicans in both the House and the Senate have introduced bills to do just that, it is unlikely members get 60 votes in the Senate to move the legislation to Trump's desk. Republicans argue the evidence states should take over is plain in the scores of students around the country. The National Assessment of Educational Progress (NAEP) recently showed students are still behind in reading and math, and that the gap between high-performing and low-performing students is widening. 'When it comes to education, we've seen the federal department's significant spending power just hasn't translated into adequate academic results, and this is evidenced by the widening achievement gap and declining reading scores that we saw on the NAEP release just two weeks ago,' said Degenfelder. Degenfelder says she has confidence in the leadership at the federal Department of Education in following Trump's directives and changing the agency. 'I really anticipate having more flexibility to use federal funding to best meet the needs of Wyoming students and so without the red tape and bureaucracy from D.C., but receiving that funding in more of a block grant method,' she added. 'Then we can more effectively use those funds in ways that we know is going to work best in our state.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Hill
12-02-2025
- Politics
- The Hill
Red state education officials eager for end of Department of Education
Republican states are embracing the idea of a future with no federal Department of Education, preparing plans for its Trump-promised demise and voicing confidence their own agencies can pick up the slack. President Trump has long called for the dismantling of the Education Department, and he's reportedly eyeing executive actions to gut its major functions while simultaneously pushing lawmakers to perform the coup de grâce. The heads of the education departments in multiple GOP-led states describe the move as a potential opportunity to get rid of red tape around funding and burdensome reporting requirements on their schools. The Trump administration is 'providing states greater control over the education of the children in their states,' said Frank Edelblut, the Republican commissioner of the New Hampshire Department of Education. Each state has 'different needs in order to serve our communities, to meet the educational objectives and needs of our children in our state,' Edelblut said. 'And so, we may have to do things differently. And so, I think, really, the conversation around providing states greater control over education is a really important and a healthy one.' Megan Degenfelder, Wyoming's GOP state superintendent of public instruction, said that Trump following through on the promise to eliminate the department 'really aligns with my belief that education policy should be returned to the States, allowing for more localized and effective decision-making.' The long-running fight over the federal department exploded last week after reports of Trump's plans came to light and Democratic lawmakers were locked out of the agency's headquarters as they were demanding a meeting with the acting secretary to discuss what the plans are inside the department. Linda McMahon, Trump's pick for Education secretary, is scheduled for her confirmation hearing on Thursday, and the potential destruction of her would-be job is sure to be a leading topic of senators' questions. While the Department of Education only makes up around 10 percent of K-12 school funding, it also runs numerous programs to assist states and protect students. Democrats' concerns around GOP plans for the department include future cuts and changes to programs such as Title I, which helps disadvantage schools, the Individuals with Disabilities Education Act (IDEA) and the department's Office of Civil Rights. 'A productive partnership with and continued funding from the federal government are essential for North Carolina's students and schools,' said North Carolina Superintendent of Public Instruction Maurice Green (D). 'About $1.2 billion for North Carolina public schools comes from the U.S. Department of Education annually,' with the majority of funding going to Title I and IDEA, Green added. 'The complete loss of this funding would be detrimental to students and result in the loss of thousands of educator jobs.' But the programs some are most concerned about are the ones that Republican states seem most excited to take over. Edelblut told The Hill that on Title I, every year he hears from school leaders who 'think that the way that those funds are being distributed is not actually serving the best needs of our economically disadvantaged students, and that there may be a better way within the state of New Hampshire to allocate that.' Trump is reportedly looking to slash Education programs not written into law and vastly cut down the number of employees at the agency. The Institute of Education Sciences, the research arm of the department, appears to be among the first targeted for cuts, as it recently cancelled 169 government contracts. Experts speculate that the powerful Office of Civil Rights, which investigates discrimination cases against schools, could be moved inside the Department of Justice. 'I think it would be helpful to alleviate the burdensome reporting' that office currently requires 'and allow school administrators to focus on being instructional leaders,' said Montana Superintendent of Public Instruction Susie Hedalen (R), adding that the reports schools are made to fill out for the federal department are on top of the 'intense program' Montana already has for the issue through their own attorney general's office. 'We're already ensuring that things are being handled appropriately, and those [federal] reports are often very out-of-date and and not actually helpful in our work,' Hedalen said. Ryan Walters, the Republican state superintendent for Oklahoma who has vocally embraced Trump's agenda, is particularly looking forward to taking charge of the nutrition of his schools and special education. 'Special education has been one where the federal government continues to put red tape on this, and instead of helping those kids with special needs […] it becomes all this red tape,' said Walters, who used to work in a special education classroom. 'It becomes all this paperwork, rather than telling states, 'Listen, you need to make sure that these kids are getting a great education.'' The Hill reached out to the education departments in all 50 states for this story. Most either didn't respond or declined to comment, with many saying they were waiting for more concrete plans on the matter from the federal government. Trump's promise to eliminate the Department of Education is not possible without an act of Congress. And although Republicans in both the House and the Senate have introduced bills to do just that, it is unlikely members get 60 votes in the Senate to move the legislation to Trump's desk. Republicans argue the evidence states should take over is plain in the scores of students around the country. The National Assessment of Educational Progress (NAEP) recently showed students are still behind in reading and math, and that the gap between high-performing and low-performing students is widening. 'When it comes to education, we've seen the federal department's significant spending power just hasn't translated into adequate academic results, and this is evidenced by the widening achievement gap and declining reading scores that we saw on the NAEP release just two weeks ago,' said Degenfelder. Degenfelder says she has confidence in the leadership at the federal Department of Education in following Trump's directives and changing the agency. 'I really anticipate having more flexibility to use federal funding to best meet the needs of Wyoming students and so without the red tape and bureaucracy from D.C., but receiving that funding in more of a block grant method,' she added. 'Then we can more effectively use those funds in ways that we know is going to work best in our state.'
Yahoo
11-02-2025
- Business
- Yahoo
Citadel's Griffin on Trump tariff talk: 'It's a huge mistake'
Hedge fund billionaire Ken Griffin doesn't sound happy with Donald Trump's tariff policies. The founder and CEO of investment firm Citadel on Tuesday called aggressive trade talk from the new administration a "huge mistake," producing chaos that in Griffin's view poses an "impediment" to economic growth. "From my vantage point, the bombastic rhetoric, the damage has already been done, and it's a huge mistake to resort to this form of rhetoric when you're trying to drive a bargain, because it like imprints, it sears into the minds of CEOs, policymakers," Griffin said during an appearance at a UBS conference in Miami. The "uncertainty and chaos created by the tariff dynamics between us and our allies is an impediment to growth," he added. "It makes it difficult for multinationals in particular to think about how to plan for the next five, 10, 15, 20 years." The comments are notable because of Griffin's standing on Wall Street and within GOP circles, as a big donor to Republican political campaigns. He said in December that he voted for Trump but didn't contribute money to his campaign, having already backed some GOP rivals. Griffin had previously referred to Trump as a "three-time loser." Tariff threats have dominated Trump's early weeks in office. On Monday he signed an executive order to impose 25% duties on steel and aluminum regardless of the source country, starting March 12. Coming later in the week are Trump-promised reciprocal tariffs, which he has said are designed to equalize trade imbalances around the world. The various moves follow an ongoing trade war with China over issues of illegal drugs and migration that escalated over this past weekend and could soon include Canada and Mexico. Duties on those American neighbors could be imposed on March 4. Griffin had previously downplayed concerns about Trump's tariff policies in December at a DealBook conference in New York, arguing that it was unclear if new duties would be slapped on Mexico, Canada and China and the talk of tariffs was "small ball compared to the role that the world is looking to us for." While his view of tariffs sounded more dire Tuesday, he did have some positive things to say about the new administration. He applauded some of its efforts to grow the US economy as "thoughtful." Griffin said efforts to loosen some regulations across corporate America has been "really inspiring to corporate CEOs who have been buried in an avalanche of red tape over the course last four years." The billionaire also praised Elon Musk and his Department of Government Efficiency (DOGE) for their attempt to shrink the US government. In less than a month, Musk's DOGE has gained access to more than a dozen federal agencies in the effort to scale back programs. The legal ramifications of such sweeping actions remain unclear and have already faced challenges in the courts. "It's an important new era in America where we have somebody who in the prime of their life, like at the absolute top of his game, is willing to take the time away from his incredibly successful businesses and to dedicate it for the better country," Griffin said of Musk, who runs several other companies, including Tesla (TSLA) and SpaceX and X. "Now, is he breaking a lot of glass? Absolutely, but he doesn't have that much time," Griffin added. But tariffs didn't receive the same praise. In Griffin's view, they "are like what you do in the death throes of a nation," saying the duties raise barriers for competition with other nations such as China while protecting US monopolies. The start of Trump 2.0 has not been what Wall Street expected in other ways, as well. Dealmaking had its slowest month in January in more than a decade. A prized tax break for hedge funds and private equity firms came under threat. And big banks have been grilled over whether they "debanked" certain customers. These complications were not part of the plan when Trump was elected in November, an event that set off a round of optimistic predictions about an M&A boom, looser rules and a more favorable approach to big Wall Street firms in Washington, DC. Instead bankers ended January with the lowest number of announced M&A deals within the US since that same month in 2014, according to LSEG data. Trump's new antitrust cops also signaled in the administration's second week that they weren't going to give a free pass to big mergers by blocking a potential union between Hewlett Packard (HPE) and rival Juniper Networks (JNPR). And new uncertainties surrounding the president's tariff plans are leaving many businesses unsure about when to make big moves and what direction borrowing costs might take in the weeks and months ahead. Other bankers acknowledged some of that uncertainty during separate talks Tuesday, while also urging optimism. 'There's a lot of policy that is shifting, and until we have more certainty on that policy, that's going to create a little bit of volatility, but the direction of travel should be more constructive,' Goldman Sachs (GS) CEO David Solomon said at the UBS conference Tuesday. JPMorgan Chase (JPM) chief operating officer Jennifer Piepszak said at a separate Bank of America Securities conference in Miami that "what we hear from clients is optimism, but a bit of a wait-and-see approach around committing to significant investments.' 'We're 22 days into it, and I think there's still some uncertainty in terms of where a lot of the policy may go in the near term,' added Wells Fargo CFO Mike Santomassimo, speaking at the UBS conference. "I think you sort of have to look a little bit past the first couple of weeks, and we still expect to see that momentum build throughout the year." David Hollerith is a senior reporter for Yahoo Finance covering banking, crypto, and other areas in finance. Click here for in-depth analysis of the latest stock market news and events moving stock prices.
Yahoo
11-02-2025
- Business
- Yahoo
New 25% tariffs on steel and aluminum to start March 4 as Trump reworks the US trade landscape
Donald Trump's rapid reorientation of the US trade landscape continued apace on Monday as he signed an executive order to impose 25% duties on steel and aluminum regardless of the source country. The tariffs are set to kick in on March 4, according to a White House official. "It's 25% without exceptions or exemptions and that's all countries, no matter where it comes from,' the president told reporters in the Oval Office. But Trump did signal that carveouts could be in the offing. Asked about a potential exception for Australia, Trump said it was something he would give great consideration because of a trade surplus there. He also noted that "I don't mind" if the countries respond with retaliatory tariffs. Monday's move was made using presidential tariff authority under Section 232 of the Trade Expansion Act of 1962 and tightened a previous investigation of steel and aluminum tariffs that Trump launched during his first term. It's just part of a busy week that could see the president simultaneously make moves on a variety of trade fronts as importers, CEOs, and foreign leaders struggle to adjust. Coming later in the week are Trump-promised reciprocal tariffs, which he has said will be made official on Tuesday or Wednesday and are designed to equalize trade imbalances around the world. Trump also said Monday evening that other discussions will commence in the weeks ahead about tariffs on other products like automobiles, semiconductors, and pharmaceuticals. Read more: What are tariffs, and how do they affect you? The various moves this week also come amid an ongoing trade war with China over issues of illegal drugs and migration that escalated over the weekend and could soon include Canada and Mexico. Duties on those American neighbors could also be imposed on March 4. 'Today's news makes it clear that perpetual uncertainty is here to stay," the Canadian Chamber of Commerce quickly responded in a statement Monday evening. "Moving forward with 25% tariffs on steel and aluminum is wrong on many levels," the group added. Canada is a key nation caught in the crosscurrents, with blanket duties looming and the country also a major provider of steel to the US. In 2018, Trump moved to impose 25% tariffs on steel and 10% duties on aluminum during his first term. China was a main target then, and many of those tariffs remain in place; it is unclear whether the nation will now face double tariffs. A range of other nations, from South Korea to Australia and many more, secured steel exemptions last time around. Trump moved on metals this week under the same authority he invoked in 2018 and — because he went through the process in his first term notably the lengthy months-long Commerce Department review process — that has allowed him to speed things up the process and move quickly to implement the tariffs by next month. "Its a big deal, this is the beginning of making America rich again," Trump said as he signed the order. Others were more critical. Competitive Enterprise Institute Senior Economist Ryan Young, as one example, reminded that the coming metal tariffs could come with a steep trade-off. 'Trump's last round of metals tariffs from his first term gained about a thousand jobs in the steel and aluminum industries themselves,' he noted, 'but they destroyed about 75,000 jobs in steel- and aluminum-using industries such as autos, construction, and beverages.' In a new note Monday, Capitol Economics outlined how Monday's move could be less far-reaching than in 2018 with production in the US rising and demand falling in recent years. "They will have less of an impact on overall prices than was the case during Trump's first term," wrote Stephen Brown, the group's deputy chief North America economist. Now that there is clarity on steel and aluminum, the attention will quickly turn to Trump's plan for reciprocal tariffs. He has said he will announce the details at a news conference on Tuesday or Wednesday, and the concept is "very simply, ... if they charge us, we charge them." But again, key details remain to be fleshed out, including exactly how they will work and whether Trump will also be willing to entertain lowering tariffs reciprocally. Data gathered by Scott Lincicome of the Cato Institute underlined that the US currently is about average among industrialized nations when it comes to overall tariff levels. That means a true reciprocal trading system would mean lowering duties on a host of countries. On the other side of the coin, close US allies like India and South Korea could see significant tariff increases in a reciprocal trade situation. Trump's allies have long focused on India, in particular, with Trump's National Economic Council director Kevin Hassett underlining in a CNBC television appearance on Monday morning that the country has "enormously high" rates on US goods. What Trump has offered so far is that his reciprocal plans "will be great for everybody." Another key question on the reciprocal tariff idea is implementation. Professor Henry Gao, an international trade expert, noted online this past weekend that implementing a range of country-specific duties at US ports of entry would be a mammoth logistical undertaking. If Trump moves forward, then "expect bureaucratic fireworks," he said. The Trump tariff moves set for this week also come on the heels of the president's decision last week to install 10% duties on China. He also promised, but then delayed, 25% duties on Canada and Mexico over issues of illegal drugs and migration. China hit back at the 10% move with an array of tariffs on an array of American goods including liquefied natural gas, crude oil, agricultural machinery, and other goods. Those duties from China went into effect this weekend with Trump's executive order allowing him to respond with even higher duties. It's unclear if he will. As for Canada and Mexico, Trump said in a Fox News interview this past weekend that, so far, the concessions from those countries designed to avert blanket tariffs were "not good enough." Ben Werschkul is a Washington correspondent for Yahoo Finance. Sign in to access your portfolio
Yahoo
10-02-2025
- Business
- Yahoo
Donald Trump is simultaneously reworking the US trade landscape on 3 different fronts this week
Donald Trump's rapid reorientation of the US trade landscape has a busy week ahead, and he could simultaneously make moves on three fronts as importers, CEOs, and foreign leaders struggle to adjust. The uncertainty has been heightened as crucial details remain unclear but with the president promising "highly detailed" announcements in the days ahead. Up first this week is a newly announced plan for 25% duties on steel and aluminum, which Trump told reporters Sunday would be announced today. The president is set to sign new executive orders at 1 p.m. ET, and he said his tariff plans will apply to all imports. However, it remains to be seen how these new duties overlap with existing metal tariffs. Coming later in the week are Trump-promised reciprocal tariffs, which he said will be official on Tuesday or Wednesday and are designed to equalize trade imbalances around the world. Open questions there linger on how they could be implemented and what it all could mean for countries that currently charge the US low tariffs. Read more: What are tariffs, and how do they affect you? Those moves this week come amid an ongoing trade war with China over issues of illegal drugs and migration that escalated over the weekend and could soon include Canada and Mexico. "This is the next four years," Doug Ford, the premier of the Canadian province of Ontario, said. Ford called Trump's pronouncements this past weekend the latest in "shifting goalposts and constant chaos, putting our economy at risk." Canada is a key nation caught in the crosscurrents, with blanket duties looming and the country also a major provider of steel to the US. The next front, expected in the coming hours, is the formal announcement of new steel and aluminum tariffs. The question is how they will interact with current duties. In 2018, Trump moved to impose 25% tariffs on steel and 10% duties on aluminum during his first term. China was a main target then, and many of those tariffs remain in place; it is unclear whether the nation will now face double tariffs. A range of other nations, from South Korea to Australia and many more, secured steel exemptions last time around. But Trump sounds much less open to carveouts this time. "Any steel coming into the United States is going to have a 25% tariff," Trump said on Sunday. "Aluminum too." Another key question is timing. If Trump moves on metal under the same authority he invoked in 2018, he could face a wait of at least a few weeks or months before the tariffs will be fully in place because of requirements like a public comment period. But the fact that Trump went through the process in his first term — notably the lengthy months-long Commerce Department review process — could speed things up and allow him to move relatively quickly. After promising clarity on steel and aluminum, Trump vowed to quickly follow with his plan for reciprocal tariffs. He said he will announce the details at a news conference on Tuesday or Wednesday, and the concept is "very simply, ... if they charge us, we charge them." But again, key details remain to be fleshed out, including exactly how they will work and whether Trump will also be willing to entertain lowering tariffs reciprocally. Data gathered by Scott Lincicome of the Cato Institute underlined that the US currently is about average among industrialized nations when it comes to overall tariff levels. That means a true reciprocal trading system would mean lowering duties on a host of countries. On the other side of the coin, close US allies like India and South Korea could see significant tariff increases in a reciprocal trade situation. Trump's allies have long focused on India, in particular, with Trump's National Economic Council director, Kevin Hassett, underlining in a CNBC television appearance on Monday morning that the country has "enormously high" rates on US goods. All Trump has offered so far is that his reciprocal plans "will be great for everybody." Another key question on the reciprocal tariff idea is implementation. Professor Henry Gao, an international trade expert, noted online this past weekend that implementing a range of country-specific duties at US ports of entry would be a mammoth logistical undertaking. If Trump moves forward, then "expect bureaucratic fireworks," he said. The twin Trump tariff moves set for this week also come on the heels of the president's decision last week to install 10% duties on China. He also promised, but then delayed, 25% duties on Canada and Mexico over issues of illegal drugs and migration. China hit back at the 10% move with an array of tariffs on an array of American goods including liquefied natural gas, crude oil, agricultural machinery, and other goods. Those duties from China went into effect this weekend with Trump's executive order allowing him to respond with even higher duties. It's unclear if he will. As for Canada and Mexico, Trump said in a Fox News interview this past weekend that, so far, the concessions from those countries designed to avert blanket tariffs were "not good enough." Ben Werschkul is a Washington correspondent for Yahoo Finance. Sign in to access your portfolio
