Latest news with #non-MAGA
CNBC
2 days ago
- Automotive
- CNBC
Tesla sell-off on Musk-Trump feud is overdone, says Fundstrat's Tom Lee
Tesla 's plunge following CEO Elon Musk 's online feud with President Donald Trump on Thursday was unnecessarily severe and offers investors a good entry point, according to Tom Lee, Fundstrat's head of research. Musk and Trump threw barbs at one another over the course of Thursday. Musk claimed Trump would have lost the election without his support and called the president's spending bill a "disgusting abomination." Trump threatened to cut government contracts for the billionaire entrepreneur's companies. Tesla shares dropped 14% in Thursday's session, meaning the electric vehicle maker shed $152 billion in value — its biggest one-day market cap loss on record. Shares rose more than 4% in Friday's premarket. TSLA 5D mountain Tesla, 5-day chart Thursday's events marked a dramatic turn in the relationship between the president and the world's richest man. Trump at one point viewed Tesla vehicles at the White House and said he would buy one as a show of support for Musk, who was a key donor during last year's election. "For Tesla, we see today's pullback as a buying opportunity," Lee wrote in a note to clients. "In our view, Elon['s] actions are now ingratiating him with non-MAGA universe, which is a lot of the USA, and the rest of the world." Lee said Tesla, which has faced backlash as a result of Musk's support of Trump and his leadership in the contentious government efficiency initiative, can now see an "improved halo." The Fundstrat research chief also said that Trump's warning of Musk's companies losing government contracts was "hollow," given that they provide critical services. Tesla shares have dropped more than 29% in 2025. The average analyst polled by LSEG has a buy rating and expects shares to rise just over 1.5% in the year ahead. For the broader market, Lee said the lack of a major jump in the CBOE Volatility Index (VIX) shows investors "do not seem to be too concerned."
New York Times
29-04-2025
- Business
- New York Times
Trump Is About to Steal My Friend's Christmas — and Yours
I first met Dane Chapin, a San Diego-area entrepreneur, in 2012, when he gave me a ride in his Prius and told me I was dead wrong about climate change. We've been close friends ever since. Sometimes he's to my left politically, sometimes to my right. I've always admired his curiosity, optimism and independent thinking, especially when we disagree — as we did over his vote for Donald Trump in the last election. One hundred days into this administration, Dane isn't happy. 'With Trump I thought, maybe, there might be a method to the madness,' he told me on Saturday. 'I'm concerned now that there is madness to his method.' To hear from Dane now is particularly valuable for the insight he offers as to why a critical constituency — the business-minded but non-MAGA side of Trump's base — is beginning to sour on the president. It's not about deportations, foreign aid, federal funding of universities or any of the issues that animate Trump's usual critics. It's about the tariffs. 'I'm being forced into survival mode regarding my business and our 80 employees, who I care for like a family,' Dane told me. 'I have bigger things to worry about than what's going on with Harvard.' Dane's principal business, which his family started more than 30 years ago, is USAopoly, or 'the Op' for short. It makes themed versions of board games like Monopoly and Clue, and brings new ones to market, like a family party game called Tapple. His employees, he said, have excellent benefits and salaries ranging from the high five figures on up. He also told me that the company reviews about 2,000 game ideas a year. Between five and six make it to production. Want all of The Times? Subscribe.
National Post
29-04-2025
- Business
- National Post
Opinion: A 10-point plan for the election winner to fix Canada
Article content 6) Overhaul our immigration system and give top priority to merit. Provide incentives to attract medical talent and STEM graduates for the modern economy. Balance the overall numbers more judiciously against housing, health and education capabilities. Article content 7) As two former Ambassadors to the U.S., we recognize that the relationship will never be the same. Mutual trust and respect — the essence of co-operation — have been vaporized by Trump's tariffs and his hostile threats to annex Canada. He relishes dominating the news cycle with impulsive, erratic tweets and is egged on by a chorus of compliant cabinet cheerleaders, but non-MAGA America is, we suspect, becoming exhausted by the pace, the confusion and the incessant combativeness of Trump's style. Article content We can negotiate tactfully new terms on economic affairs and security even though any agreement may not be honoured by the current president, who has completely violated the terms of the CUSMA as well as the basic principles guiding the WTO and threatens the continued viability of NATO. Article content Article content As a report by the Expert Group on Canada–US Relations observed, the U.S. has been transformed 'from the guarantor of stability and the rule of law into a threat to be mitigated.' We should not rush into any negotiation until there is greater clarity and less confusion about the political climate in Washington. It would be prudent to first test the climate for diplomatic solutions if and as the political mood in America begins to sour on the president's performance. Article content We should use the leverage of our substantial resources that America needs — uranium, oil, aluminum, potash, water, etc. — to our advantage and induce made-in-Canada products where feasible. Article content 8) Refocus our foreign policy more generally and align resources and activities more closely with real Canadian interests. There is no viable alternative to the dominant focus on the U.S., but we should intensify relations with the EU, Japan, South Korea, Singapore and all our TPP partners. Damaged relations with India and China should be repaired in a realistic, mutually beneficial manner. Article content Article content 9) Double the size and expenditures for our military in three years. This could be partially paid for by a sharp reduction in the size of our bloated public service, notably the senior echelon. That would give us real capacity to serve our own security interests, notably in the Arctic. We can no longer be a 'free rider' on our own defence — the ultimate example of chronic complacency. Article content 10) Reform our intelligence and police forces to better address domestic and global threats. According to a Parliamentary committee report in November 2023, the RCMP is stretched thinly across multiple tasks and not adequately trained for modern crimes like money-laundering — related primarily to drug trafficking — terrorism and espionage. Ensure, too, that our courts are better equipped to adjudicate these challenges. Article content
New York Times
25-04-2025
- Politics
- New York Times
Government Notices to Migrants Fall Short of Due Process, Legal Experts Say
This month, the Supreme Court ordered that Venezuelans threatened with deportation under an 18th-century wartime law be given a measure of due process — a chance to challenge their removal from the country in court. On Thursday, a declaration by an immigration official that laid out the Trump administration's process for complying was unsealed. According to the official, detainees would be told of their impending removal in notices written in English and then would get one phone call and at least 12 hours to indicate that they wished to challenge their deportation. But if they did not file in court within 24 hours after giving notice, according to the declaration, they could be sent out of the country — including to a notorious terrorism prison in El Salvador. The disclosure caused legal experts to react with astonishment and predict that judges, potentially including the Supreme Court justices, would most likely look askance. 'The administration's notion of due process is a joke,' said Michael J. Klarman, a law professor and historian at Harvard. 'I cannot imagine any non-MAGA judge taking the argument seriously.' Mr. Klarman noted that the Supreme Court had previously defined due process requirements. In Goldberg v. Kelly, decided in 1970, the justices found that before revoking a person's welfare benefits, the government must provide notice of the reason and a hearing where the person could present evidence and contest the termination. Want all of The Times? Subscribe.
Yahoo
18-04-2025
- Business
- Yahoo
Karl Rove: Trump exhausting many Americans
Longtime Republican strategist Karl Rove is arguing that President Trump is exhausting many Americans with his various moves on tariffs, causing confusion and concern that could boomerang on Trump. 'We aren't 100 days into Donald Trump's second term and many Americans are already exhausted. They've had way too much thrown at them,' Rove wrote in an op-ed in The Wall Street Journal on Wednesday. He said voters were clear in the 2024 election that they wanted lower prices, the economy energized, the southern border closed and the military strengthened with a strong leader in charge of the Oval Office. He said progress has been made on issues like the border and the military, but Americans aren't pleased with the state of the economy. 'Mr. Trump's campaign promise to break inflation has been replaced by a fixation on raising tariffs, which nearly three-quarters of Americans expect to hike prices,' Rove wrote. 'We're also confused: Is the goal getting trading partners to lower their tariffs on U.S. goods and services? Or replacing our income tax with high tariffs on foreign goods?' Trump has taken a flurry of actions on his signature campaign proposal of implementing tariffs on many countries around the world, on multiple occasions putting them in place or threatening to do so before announcing temporary reprieves and varying exceptions. Most recently, he has placed a 10 percent baseline tariff on every country but announced a 90-day pause on significantly higher tariffs that he had planned to place on roughly 60 countries he deemed the worst offenders on trade barriers. But polling has shown the tariffs are widely unpopular, and a majority expect them to lead to higher prices. Rove said the issue isn't only tariffs and prices but the White House every week throwing 'its weight behind a new issue that went largely or entirely unmentioned during the campaign,' such as wanting to claim Greenland, the Panama Canal and Canada and renaming the Gulf of Mexico to the Gulf of America. He said he expects Trump's policies will be a mix of deliberately planned ideas and ones 'concocted on the fly' and White House aides won't mind if some headlines are bad for them, but Trump could be undermining himself in not spending time explaining his successes and how they are improving people's lives. Rove said Trump is also focusing too much on enacting 'retribution' against his opponents. He said Trump's declining approval rating won't matter for his most passionate supporters, but the past eight weeks have been exhausting for the 'non-MAGA world,' which includes Republicans and independents. 'They aren't used to this pace, confusion and incessant combat,' he said. 'Theodore Roosevelt's daughter said her father wanted to be the corpse at every funeral and the bride at every wedding. So does Donald Trump. It isn't obvious that America wants that, too. But we know he won't change.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
