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- CNN Host Loses It Over Trump’s ‘Economic Nonsense’ – ‘Where Does He Think These Billions A...
President Donald Trump imposed sweeping tariffs on all imports on Wednesday in a move that will almost certainly result in markedly higher prices. Effective 12:01 a.m. on Thursday, all imports into the U.S. will be hit with a baseline 10% tariff, but goods from dozens of countries will be hit with even higher tariffs. For example, goods from the European Union will be hit at a rate of 20%, Vietnam at 46%, and Japan at 24%. All imported automobiles will be subject to a 25% tariff, regardless of origin. CNN International host Richard Quest joined Wednesday’s CNN NewsNight to weigh in on Trump’s Rose Garden event announcing the move. “There are a lot of things that were said today, but the idea of slapping – willy nilly it seems – tariffs on basically the entire world will do what for the economy?” host Abby Phillip asked. Quest did… ...[TheTopNews] Read More.45 mins ago - Rand Paul Fears Trump Tariffs Could Mean 1930s-Style Republican Wipeout: ‘We Lost the House and Se...Sen. Rand Paul (R-KY) warned on Wednesday that President Donald Trump’s tariffs could result in the Republican Party being wiped out in both the House and Senate for decades. Speaking to reporters, Paul warned that tariffs have previously “led to political decimation.” “When McKinley, most famously, put tariffs on in 1890, they lost 50% of their seats in the next election,” he noted. “When Smoot and Hawley put on their tariff in the early 1930s, we lost the House and the Senate for 60 years. So they’re not only bad economically, they’re bad politically.” Paul also criticized the tariffs during an interview with The Hill’s Rising. “On tariffs, I think it’s just economically — it’s a fallacy to think that it’ll help the country,” he said. “Tariffs are a tax, and if you tax trade or if you tax anything, you’ll get less of it.” President Trump called out… ...[TheTopNews] Read More.1 hour ago
- Maggie Haberman Says ‘A Number of Trump Advisers’ Are ‘Tired of Musk’s Presence’CNN’s Maggie Haberman said that while Elon Musk is likely to remain in President Donald Trump’s orbit, the Tesla CEO is likely to exit the government soon. Musk is the de facto head of the “Department of Government Efficiency,” which has gutted various agencies by laying off thousands of workers and freezing spending allocated by Congress. The moves have sparked a series of lawsuits and screaming at Republican lawmakers at town halls across the country. On Wednesday, it was reported that Musk will soon withdraw from his role in the government to return to running his businesses. He is expected to remain as an informal adviser. The billionaire has reportedly clashed with other Trump administration officials, including Secretary of State Marco Rubio and Secretary of Transportation Sean Duffy. Haberman appeared on Wednesday edition of The Source, where host Kaitlan Collins noted that special government employees like Musk may… ...[TheTopNews] Read More.1 hour ago
- Trump Used Phony Numbers To Justify His Massive Tariffs
AP Photo/Alex Brandon On Tuesday, President Donald Trump announced sweeping tariffs on all imports into the U.S. As a starting point, the administration is implementing a baseline tariff of 10% on all foreign goods. He also singled out dozens of countries for higher tariffs. For example, Vietnamese imports were hit with a 46% tariff while the European Union was slapped with a 20% one. Despite the Trump administration’s previous insistences to the contrary, tariffs are paid by businesses that import tariffed goods – not the exporting country. These costs tend to be passed on to consumers in the form of higher prices. This is why economists – and even pro-Trump Republicans – have said tariffs are effectively a tax. Trump announced the tariffs at a Rose Garden event that lasted nearly an hour, during which he presented a list of countries. Next to each country were two columns. The first… ...[TheTopNews] Read More.3 hours ago - Whoops! Trump Slaps Tariffs on Uninhabited Islands
AP Photo/Mark Schiefelbein President Donald Trump implemented tariffs on several uninhabited islands on Tuesday as part of a confused effort to establish equal trade. The White House published a list of countries that had been slapped with “reciprocal tariffs” on Tuesday after Trump accused the nations of ripping off the U.S. with their own tariffs. Social media users were quick to point out, however, that the list included uninhabited islands and a territory where the only significant settlement was a U.S. military base. Among them, the uninhabited Heard and McDonald Islands – an Australian territory and one of the most remote places on Earth – was slapped with a 10% “reciprocal tariff.” The British Indian Ocean Territory was also slapped with a 10% reciprocal tariff, despite the fact that the only inhabitants of the islands are U.S.-U.K. military personnel and contractors, who occupy a Joint Military Facility in the territory.… ...[TheTopNews] Read More.4 hours ago - ‘Sit Back, Take It’: Trump Treasury Secretary Warns Tariffed Countries Not To RetaliateTreasury Secretary Scott Bessent warned countries not to retaliate against tariffs imposed by the U.S. or their goods will get slapped with even higher tariffs when imported into the U.S. On Tuesday, President Donald Trump announced baseline tariffs of 10% on all imports, plus higher tariffs on goods from dozens of select nations, including 34% on imports from China, 46% on goods from Vietnam, and 20% tariffs on imports from the European Union. Meanwhile, the president left in place existing tariffs on Canada and Mexico in place. Shortly afterward, Bessent joined Special Report on Fox News, which Bret Baier was hosting on the White House grounds. The host pointed to after-hours trading in the markets, which reacted bearishly to Trump’s announcement. “The president calls it ‘Liberation Day,'” Baier said. “We showed the markets before, but if you saw the post-market reaction, it was kind of down across the board.… ...[TheTopNews] Read More.5 hours ago
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