A look at what happened in the US government this week
A look at what happened in the US government this week
Today President Donald Trump took his biggest move yet in an effort to reorder the global economy, implementing his sweeping reciprocal tariffs after delaying them for months. The products that are wide ranging from Japanese cars to Brazilian coffee to Chinese toys and furniture and South Korean TVs, just to name *** few. These and most goods now coming into the US are facing taxes between 10 and 41%. The average rate is more than 17%. That's the highest since the Great Depression, according to Yale University. The president was celebratory on social media, posting at midnight. Billions of dollars are now flowing into the United States. According to the data that we have reviewed from the Treasury Department, you can see *** jump in taxes collected by customs and border officials. That includes tariffs back when the president put in *** 10% baseline tariff on most imports in April. In July, the US government collected nearly $30 billion. That's according to the Treasury Department, and it's 242% higher when you compare it to last July. But economists say the tariffs are weighing on the economy. They are at least partially to blame for poor hiring, higher inflation, and less consumer spending that we've seen over the past couple of months. And it's *** similar sentiment that I've heard from small business owners I've spoken to who tell me they're seeing less demand, higher prices, and overall uncertainty at the White House. I'm Christopher.
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A look at what happened in the US government this week
President Donald Trump's "Liberation Day" tariffs have taken effect. Trump also announced he will meet with Russian President Vladimir Putin on U.S. soil. Tensions remain high in Texas over the fight to redistrict its congressional map. Health and Human Services Director Robert F. Kennedy Jr. slashed vaccine development spending. Trump removed his IRS commissioner two months after he had been confirmed.Here are the top stories involving the U.S. government this past week."Liberation Day" tariffs arrivePresident Donald Trump's so-called "Liberation Day" tariffs took effect this week.The tariffs are raising economists' concerns about the potential financial burden on businesses and consumers.Here's how the tariffs could impact the country's current economic state.Trump warned that tariffs could potentially rise on computer chips and pharmaceuticals in the future.Video below: Candidate for governor closes business amid tariff uncertainty Trump-Putin meetingTrump announced in a post on social media Friday that he would be meeting with Russian President Vladimir Putin on Aug. 15 in Alaska.Trump's envoy met with Putin this week ahead of Trump's announcement to further peace talks to end the war with Ukraine.Here's what to know about past meetings between Russian and U.S. presidents.Video below: Trump says he will meet with Putin in Alaska on Aug. 15In other newsձ油’ redistricting standoff rose to a new level Friday as Democrats once again denied a quorum to allow the House to consider the GOP-led redistricting plan.Redistricting, the process of redrawing electoral boundaries, has been a part of American history since the colonial era, with gerrymandering remaining a controversial aspect.Republicans in Texas are responding by threatening more punitive action.Health and Human Services Director Robert F. Kennedy Jr. is pulling $500 million in funding for vaccine development.Experts react to RFK Jr.'s vaccine cuts.Trump has dismissed IRS Commissioner Billy Long less than two months after his confirmation.Trump met with the leaders of Armenia and Azerbaijan after helping to broker a peace deal between the two nations.The Environmental Protection Agency moved to terminate $7 billion in funding for rooftop solar program approved under former President Joe Biden's administration.Homeland Security removed age limits for ICE recruits to boost hiring for Trump's deportation program.Trump said Thursday he will nominate top economic aide Stephen Miran to the Federal Reserve's board of governors for four months.Apple announced a $100 billion investment in U.S. manufacturing, aiming to bring more of its supply chain to the country and avoid tariffs. Video below: Maryland could follow Texas' lead in redistricting
President Donald Trump's "Liberation Day" tariffs have taken effect. Trump also announced he will meet with Russian President Vladimir Putin on U.S. soil. Tensions remain high in Texas over the fight to redistrict its congressional map. Health and Human Services Director Robert F. Kennedy Jr. slashed vaccine development spending. Trump removed his IRS commissioner two months after he had been confirmed.
Here are the top stories involving the U.S. government this past week.
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"Liberation Day" tariffs arrive
- President Donald Trump's so-called "Liberation Day" tariffs took effect this week.
- The tariffs are raising economists' concerns about the potential financial burden on businesses and consumers.
- Here's how the tariffs could impact the country's current economic state.
- Trump warned that tariffs could potentially rise on computer chips and pharmaceuticals in the future.
Video below: Candidate for governor closes business amid tariff uncertainty
Trump-Putin meeting
- Trump announced in a post on social media Friday that he would be meeting with Russian President Vladimir Putin on Aug. 15 in Alaska.
- Trump's envoy met with Putin this week ahead of Trump's announcement to further peace talks to end the war with Ukraine.
- Here's what to know about past meetings between Russian and U.S. presidents.
Video below: Trump says he will meet with Putin in Alaska on Aug. 15
In other news
- ձ油’ redistricting standoff rose to a new level Friday as Democrats once again denied a quorum to allow the House to consider the GOP-led redistricting plan.
- Redistricting, the process of redrawing electoral boundaries, has been a part of American history since the colonial era, with gerrymandering remaining a controversial aspect.
- Republicans in Texas are responding by threatening more punitive action.
- Health and Human Services Director Robert F. Kennedy Jr. is pulling $500 million in funding for vaccine development.
- Experts react to RFK Jr.'s vaccine cuts.
- Trump has dismissed IRS Commissioner Billy Long less than two months after his confirmation.
- Trump of Armenia and Azerbaijan after helping to broker a peace deal between the two nations.
- The Environmental Protection Agency moved to terminate $7 billion in funding for rooftop solar program approved under former President Joe Biden's administration.
- Homeland Security removed age limits for ICE recruits to boost hiring for Trump's deportation program.
- Trump said Thursday he will nominate top economic aide Stephen Miran to the Federal Reserve's board of governors for four months.
- Apple announced a $100 billion investment in U.S. manufacturing, aiming to bring more of its supply chain to the country and avoid tariffs.
Video below: Maryland could follow Texas' lead in redistricting