Politics and Current
Trump’s first-term tariffs did little to impact the economy, but this time may be different
WASHINGTON (AP) — Donald Trump loved to impose tariffs on foreign goods during his first presidency. However, their impact was barely noticeable across the economy, even when the aftershocks were pronounced in individual industries.
Records show they never fully delivered on the factory work they promised him. They did not trigger the avalanche of inflation that critics feared.
But this time it was his customs risks may be different.
The president-elect is talking about taking much greater motion — on a possible scale that creates greater uncertainty about whether he’ll do what he says and what the consequences might be.
“I mean, there will be a lot more tariffs, that’s pretty clear,” said Michael Stumo, CEO of the Coalition for a Prosperous America, a gaggle that supports import taxes to help domestic production.
The president-elect posted on social media on Monday that he would impose a 25% tariff on all goods imported from Mexico and Canada on his first day in office until those countries satisfactorily stop illegal immigration and the flow of illegal drugs comparable to fentanyl into the United States . States.
These tariffs could essentially blow up the North American trade pact negotiated by Trump’s team during his first term.
Chinese imports will be subject to additional tariffs of 10% until Beijing stops producing materials used to produce fentanyl, Trump wrote.
Democrats and business groups warn of dangers from Trump’s tariff threat
Business groups were quick to warn rapidly growing inflationone sec President of Mexico Claudia Sheinbaum said it might oppose the move by imposing tariffs on U.S. products. House Democrats have advanced laws to strip the president of the ability to unilaterally apply tariffs in such a drastic manner, warning that they might likely lead to higher prices for cars, shoes, housing and groceries.
Sheinbaum said Wednesday that her administration was already working on an inventory of possible retaliatory tariffs “if it comes to that.”
“The economics department is already preparing it,” Sheinbaum said. “If tariffs are introduced, Mexico will raise them. “This is a technical exercise that will also benefit Mexico,” she said, suggesting that her country impose targeted import tariffs on U.S. goods in sensitive areas.
Similarly, Canadian government has also begun to consider retaliatory tariffs if Trump takes motion.
House Democrats introduced a bill Tuesday that will require congressional approval from the president to impose tariffs over claims of a national emergency, a largely symbolic motion given Republicans have taken control of each the House and Senate.
“This legislation would enable Congress to limit this sweeping, emergency power and impose necessary congressional oversight before any president – Democrat or Republican – could indiscriminately raise costs for the American people through tariffs,” said Rep. Suzan DelBene, D-Wash.
But for Trump, tariffs are actually a proven tool that seems less politically controversial, even when the mandate he received in November’s election largely included curbing inflation.
The tariffs he imposed on China during his first term were continued by President Joe Biden, a Democrat, who even expanded tariffs and restrictions on the world’s second-largest economy. Biden administration officials have considered removing Trump’s tariffs to reduce inflationary pressures, but have found that unlikely to help significantly.
The tariffs were “so new and unique that they freaked everyone out in 2017,” Stumo said, but the U.S. and other countries now see them as a part of a policy toolkit.
Trump’s first-term tariffs had a moderate impact on the economy
Trump imposed tariffs on solar panels and washing machines in early 2018, moves that may have pushed up prices in these sectors, although additionally they coincided with plans to open washer plants in Tennessee and South Carolina.
His administration also imposed tariffs on steel and aluminum, including on allies. He then raised tariffs on China, leading to a trade conflict and a limited 2020 deal that failed to materialize generate promised Chinese purchases of American goods.
However, the dispute modified relations with China as more American firms searched for alternative suppliers in other countries. Economic research additionally they found that the United States may have sacrificed a few of its “soft power” as the Chinese population began watching fewer American movies.
The Federal Reserve has kept inflation roughly on the right track, but factory construction spending has never increased in a way that will suggest sustained manufacturing job growth. Separate economic research found that the tariff war with China had no economic effect on communities harmed by offshoring, but it helped Trump and Republicans in those communities politically.
When Trump first became president in 2017, the federal government collected $34.6 billion in tariffs, duties and charges. That total greater than doubled under Trump to $70.8 billion in 2019, according to data from the Office of Management and Budget.
While this sum may seem significant, it was relatively small compared to the overall economy. According to the Bureau of Economic Analysis, America’s gross domestic product is currently $29.3 trillion. Total tariffs collected in the United States would amount to just below 0.3% of GDP.
Trump wants way more far-reaching tariffs in the future
Trump’s latest tariffs are much higher and will have a way more significant impact.
If Mexico, Canada and China faced additional tariffs proposed by Trump on all goods imported into the United States, this could amount to roughly $266 billion in taxes collected, and this figure doesn’t assume any trade disruptions or retaliation from other countries . countries. The cost of those taxes would likely be borne by American families, importers, and domestic and foreign firms in the form of upper prices or lower profits.
Former Biden administration officials have expressed concerns that firms could use Trump’s tariffs – if imposed – as a reason to raise prices. This would reflect price increases by many firms in 2022, made possible by Russia’s invasion of Ukraine, which raised food and energy prices and gave firms the opportunity to further raise their very own prices.
“I’m very concerned about complete, massive tariffs on more than just China that give companies cover to raise prices,” said Jen Harris, a former Biden White House official who’s now director of the Economic and Society Initiative at the Department of Economics and Society at the William and Society Foundation Hewlett Flora.
But Trump hasn’t really explained what might prompt him to roll back the tariffs and declare victory. Instead, its threats create a way of uncertainty as firms and countries wait for details to work out what all of it might mean.
“We know the key economic policy priorities of the new Trump administration, but we don’t know how or when they will be implemented,” said Greg Daco, chief U.S. economist at EY-Parthenon.
Politics and Current
The challenging supporter of Trump is trying to embarrass Letitia James for the allegations of fraud – her flap up the crowd
The Prosecutor General of New York Letitia James even kept Wiul during the interrogation on the impact on the community by which she was cheated on the investigation that Trump’s administration began on the allegations that James had committed a mortgage fraud.
James organized a hearing in Suny Westchester College on 8 May together with several other general prosecutors to discuss the influence of the federal plans of Trump’s restructuring on New Yorkers and defend critical social assistance programs.
During the questions and answers of the hearing, one supporter of Donald Trump took her to MIC to a needle regarding the investigation of mortgage fraud and challenging her lawsuit against the president, who accused him and his members of the family of the dishonest filling of the net value and the value of his business assets for lenders.
“Will you apologize to President Trump for wasting millions of dollars and the state of New York for the process of witches and how is it to know that you will be imprisoned for a mortgage fraud?” The man asked around a 52 -minute character.
Heckler’s query only met with the chorus Boos and Jeers from dozens of audience members before he was escorted by security.
“Thank you for coming,” James said coldly before you directed the audience. “We want to thank him for coming. We respect all opinions. Everyone knows that these allegations are unfounded. They are discredited, so we want to thank him.”
Last month, the director of the Federal Residential Finance Agency, WILLIAM PULTE, appointed by the Federal Finance Agency, sent a criminal referral to the US PAM Bondi Prosecutor General, asking for checking the allegations listed in the “media reports” that James misled Real Estate, which he has in New York and Virginia and was lying on financial documents to secure loans.
In the Pulte to Bondi letter, he wrote that James “in many cases forged bank documents and real estate registers to acquire aid and loan supported by the government and more favorable terms of the loan.”
Pulte accused James of the appointment of real estate in Norfolk, Virginia, as her most important residence, despite the serving and being in New York. He also claimed that she had bought a five -level property in Brooklyn with a loan authorized only for 4 units.
James’ defense lawyer, Abbe Lowell, sent the Department of Justice letter By condemning the allegations and claiming that they’re related to Trump’s hostility to the Prosecutor General, calling the referral “an act of personal revenge.”
Trump previously condemned James and her criticism, which caused a civil trial by which he was ordered to pay $ 454 million after he was responsible for fraud in New York.
He repeatedly called the “hunt for political witches”, and his anger against James landed on the list of his political opponents. In a more moderen attack on the figure of James, president called Her “terrible human being”, “sick person” and “total cheater”.
Many reports are that the Department of Justice has just been investigating the real estate transactions related to loans and purchases of real estate in New York and Virginia.
In response to the submission of a meat from criminal advice, the spokesman for the office James said the media: “Prosecutor General James focuses daily on the protection of New Yorkers, especially since the administration of the Federal Government weapons against the rule of law and structure.
Getty images
Jimmy Carter, 39. President of the United States and global humanitarian, died calmly at the age of 100 in his hometown of the plains in Georgia, where he spent most of his life. Carter Center He announced his death on Sunday, almost two years after entering the hospice.
“Our founder, former US president Jimmy Carter, died this afternoon in Plains, Georgia,” Carter Center Made available on social media. “He died calmly, surrounded by his family.”
President Carter survived his children-Jack, Chip, Jeff and Amy-Wraz with 11 grandchildren and 14 great-grandchildren. He was preceded by death by his beloved 77 -year -old wife, Rosalynn, who died in 2023 and one grandson.
Carter, who was the president in 1977–1981, is remembered not only due to his time in an oval office, but in addition concerning the extraordinary life he later led. From conducting diplomatic missions to the Eighties to the development of homes from the habitat for humanity within the 90s, Carter was an example of lifetime involvement in service.
“My faith requires – it is not optional – my faith requires that I do everything I can, wherever I am, whenever I can, as long as possible, with what I have to try to change something,” said Carter.
His relentless dedication to Human Rights brought him the Nobel Peace Prize in 2002 through the Carter Center, which he founded in 1982 along with his wife Rosalynn, Carter worked on promoting democracy, monitoring elections and the fight for social justice world wide.
President Joe Biden was one in all the primary to pay tribute, calling Carter a “extraordinary leader, state and humanitarian husband.” Thinking about their a long time, Biden described Carter’s life as a guide for anyone who’s searching for a goal.
“For all young people in this nation and for everyone who is looking for, what it means to live with life and meaning – good life – study Jimmy Carter, a man of principles, faith and humility,” said Biden in a press release.
Former President Barack Obama also honored Carter’s heritage, emphasizing his honesty and commitment to service throughout his life.
“Chosen in the shadow of Watergate, Jimmy Carter promised voters that he would always tell the truth. And so – in favor of public good, let the consequences not be” – said Obama. “He believed that some things were more important than re -election – such things such as honesty, respect and compassion.”
Obama added: “Whenever I had the opportunity to spend time with the Carter, it was clear that he not only confessed these values. He jumped them. In this way he taught us all, what it means to live the life of grace, dignity, justice and service.”
Condolences spilled from leaders world wide, including UN Secretary General Antonio Guterres, the premiere of Barbados Mia Mottley, the prime minister of Great Britain Keir Starmer and President Panama José Raúl Mulino.
Born on October 1, 1924 in Plains, Georgia, James “Jimmy” Earl Carter Jr. He was the primary president of the USA to be born within the hospital. His upbringing at the nut farm instilled in him a robust ethics of labor and a deep sense of values that shaped his presidency and life outside of it.
During his presidency, Carter achieved significant milestones, including inhabiting Camp David Porads, which paved the method to the room between Egypt and Israel. However, his term of office was also marked by challenges similar to Iran’s crisis of plants, which overshadowed his re -election offer in 1980.
After leaving the office at the age of 56, Carter re -defined the role of the previous president. Often called “the greatest former president of America” he devoted over 4 a long time to the explanations which have crossed the policy, gaining admiration world wide.
President Biden announced plans for the official state funeral in Washington and announced mourning on January 9 on January 9 to honor Carter’s extraordinary life and heritage.
The Secretary of Defense Pete HegeSeth on Monday ordered the military lively service to lose 20% of 4 -star general officers, when the Trump administration moves forward with deep cuts, which he thinks will promote performance, but critics that worry may cause more politicized strength.
HegeSeth also told the National Guard to lose 20% of his highest positions and recommend the military to reduce an extra 10% of his general and flagship officers of their forces, which can include one star or official with an equivalent rank of navy.
The cuts are at the top of over half a dozen of the best general officers that President Donald Trump or HegeSeth released from January, including the chairman of the joint heads of the staff, Gen. CQ Brown Jr. They also released only two women serving as 4 -star officers, in addition to a disproportionate variety of other older officers.
In earlier rounds of shooting, HegeSth said that the eliminations were “a reflection of the president who wants the right people around him to perform the approach to national security that we want to take.”
As the head of the Pentagon, HegeSeth advertised his efforts to upload any programming or leadership, which support diversity in ranks, tried to end members of transgender services and commenced sweeping changes to implement a uniform fitness standard for the fight position.
In the note announcing the cuts on Monday, HegSeth said that they might remove “unnecessary forces to optimize and improve leadership.” He said that the goal was to free the army from “unnecessary bureaucratic layers.”
Rep. Seth Moulton, D-Mass. Marine, who served in Iraq and is now in the Armed Service Committee, said he perceived HegeSetha as trying to politicize the army.
“He creates a formal framework to slow down all generals who disagree with him – and president,” said Multon AP in Capitol.
He said that actually every organization can search for performance, but HegeSeth has been clearly clearly expressing its program. “He wrote a book about it. He wants to politicize the army,” said Multon. “So it’s hard to see these cuts in any other context.”
Multon warned against the fall of the soldiers. “It is necessary for our soldiers to understand that they receive constitutional orders, not political orders,” he said, “otherwise you have no democracy, otherwise you have an army that works well for one or another political party.”
Adding to the confusion in the Pentagon, HegeSeth in recent weeks I actually have released or moved many close advisersstrongly narrowing his inner circle. He also handled questions from each Democrats and Republicans about coping with sensitive information and the use of applications for sending signal messages.
There are about 800 general officers in the army, but only 44 of them are 4 -star general or flag officials. The army has the largest variety of general officers, from 219, including eight 4 -star generals.
The variety of positions of the general officer in the army is set by law. Congress members didn’t receive a notification upfront, which they might normally receive in cuts, but in the afternoon they received a “very short warning”, according to a congress worker, which spoke on the condition of anonymity to provide details that weren’t made public.
The cuts were first reported by CNN.
The Pentagon is under pressure to reduce expenses and staff as a part of wider cuts of the federal government pushed by the Department of the Government of Trump and Ally Elon Musk.
HegeSeth last week ordered a sweeping transformation Army to “build a slim, more deadly force”, including connecting or closing the headquarters, shedding outdated vehicles and aircraft, cutting up to 1,000 employees of the headquarters in the Pentagon and transfer of staff to units in the field.
Also last week, the army confirmed that it could be Military Parade for Trump’s birthday In June, as a part of the celebration of the 250th birthday of the service. Officials say it would cost tens of tens of millions of dollars.
—-
Associated Press Writers Lisa Mascaro and Lolita C. Baldor contributed to this report.
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Jimmy Carter, 39. US President and Nobel Prize winner, dies at 100 – ESENCE
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