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Trump has promised again to release the last JFK files. But experts say don’t expect big revelations
NEW YORK (AP) — The virtual president-elect of the United States, Donald Trump , threatened on Monday to impose new tariffs on Mexico, Canada, and China as soon as he takes office, as part of his plans to combat illegal immigration and drug trafficking. He said he would impose a 25% tax on all products entering the country from Canada and Mexico , and an additional 10% tariff on goods from China, as one of his first decrees. PUBLICIDAD If implemented, tariffs could drastically increase prices of everything in the United States, from gasoline and cars to agricultural products. The United States is the world's largest importer of goods, with Mexico, China, and Canada being its top three suppliers, according to the most recent data from the US Census. PUBLICIDAD Trump made the threats in a series of posts on his Truth Social social media platform, where he complained about the arrival of unauthorized migrants, even though border crossings at the southern border have remained close to their lowest level in the past four years. "On January 20th, as one of my many first decrees, I will sign all the necessary documents to charge Mexico and Canada a 25% tariff on all products entering the United States, and their ridiculous open borders," he wrote, complaining that "thousands of people are crossing through Mexico and Canada, bringing crime and drugs to levels never seen before," even though violent crime has decreased since the peaks recorded during the pandemic." He said that the new tariffs would remain in effect "until we stop this invasion of drugs, particularly fentanyl, and all illegal foreigners entering our country." "Both Mexico and Canada have the absolute right and power to easily resolve this problem that has been simmering for a long time. Through this means, we demand that they use this power," he added, "and until they do, it is time for them to pay a very high price." Trump also lashed out against China, stating that he has "had many conversations with China about the huge amounts of drugs, particularly fentanyl, being sent to the United States, but with no results." "Until they stop, we will be charging China an additional tariff of 10%, on top of any additional tariffs, on all of their many products entering the United States of America," he wrote. The Chinese embassy in Washington warned on Monday that there will be losers everywhere if there is a trade war. "The economic and trade cooperation between China and the United States is mutually beneficial by nature," stated embassy spokesperson Liu Pengyu on the social network X. "No one will win a trade war or a tariff war." He added that China has taken measures in the past year to help stop drug trafficking. It is not clear whether Trump will actually carry out the threats or if he is using them as a negotiating tactic before taking office in the new year. Trump's nominee for Treasury Secretary, Scott Bessent —who, if confirmed, would be one of several officials responsible for imposing tariffs on other countries—has stated on several occasions that tariffs are a negotiating tool. He wrote in an opinion article on Fox News last week, before his nomination, that tariffs are "a useful tool for achieving the president's foreign policy objectives. Whether to get allies to spend more on their own defense, open foreign markets to U.S. exports, ensure cooperation in ending illegal immigration and intercepting fentanyl trafficking, or deter military aggression, tariffs can play a central role." Trump won the election largely due to voters' frustration with inflation, but the tariffs he threatens to impose could further increase prices of food, cars, and other goods. If inflationary pressures rise, the Federal Reserve may need to keep its benchmark interest rates high. Trump's threats are known as arrests for illegally crossing the southern border have been decreasing. The figures for October show that detentions remain near their lowest level in four years. The Border Patrol reported 56,530 arrests in October, less than a third of last year's October total. Meanwhile, arrests for illegally crossing the border from Canada have been increasing over the past two years. The Border Patrol made 23,721 arrests between October 2023 and September 2024, compared to 10,021 in the previous 12 months. More than 14,000 of those arrested at the Canadian border were Indians, over 10 times the number from two years ago. Last week, a jury found two men guilty on charges related to human trafficking for their role in an international operation that led to the death of an Indian migrant family who froze while attempting to cross the border between Canada and the United States during a snowstorm in 2022. Much of the fentanyl in the United States is smuggled from Mexico. Border seizures of the drug significantly increased during Joe Biden's presidency, with US officials tallying approximately 12,247 kilograms (21,900 pounds) of seized fentanyl in the fiscal year 2024, compared to 1,154 kilograms (2,545 pounds) in 2019 when Trump was president. If Trump were to go ahead with the threat of tariffs, the new taxes would pose a huge challenge for the economies of Canada and Mexico, in particular. The Canadian dollar weakened in the foreign exchange markets immediately after Trump's publication. During Trump's first term, his decision to renegotiate the North American Free Trade Agreement (NAFTA) and reports that he was considering a 25% tariff on the Canadian automotive sector were seen as an existential threat in Canada. Canada is one of the most trade-dependent countries in the world, and 75% of Canada's exports, including automobiles, go to the United States. Tariffs would also cast doubt on the reliability of the 2020 trade agreement negotiated largely by Trump, the USMCA, which replaced NAFTA and is scheduled for review in 2026. It is not clear how Trump would legally apply tariff increases to these two key trading partners of the United States, but the 2020 agreement allows for national security exceptions. Officials from the Trump transition team did not respond to questions at the moment about what authority would be used, what they would need to see to prevent the tariffs from being implemented, and how they would affect prices in the United States. When Trump imposed higher tariffs during his first term, other countries responded with their own tariffs. Canada, for example, announced billions of dollars in new tariffs in 2018 in response to U.S. tariffs on Canadian steel and aluminum. Many of the American products were chosen for their political impact rather than economic. For example, Canada only imports $3 million worth of yogurt from the United States annually, and most of it comes from a plant in Wisconsin, the home state of the then Speaker of the House, Paul Ryan, a Republican. That product was taxed with a 10% tariff. The Canadian government, in a joint statement by Deputy Prime Minister Chrystia Freeland and Minister of Public Safety Dominic Leblanc, emphasized the close relationship between both countries and stated that they will discuss the border and extensive economic ties with the incoming administration. "Canada gives top priority to border security and the integrity of our shared border. Our relationship today is balanced and mutually beneficial, especially for American workers," reads the statement. Freeland, who chairs a special cabinet committee on Canada-US relations to address concerns about another Trump presidency, has said that the president-elect's promise to launch a massive deportation operation and the possibility that this could lead to an influx of migrants to Canada is one of the main points to be analyzed by the committee. A senior Canadian official had said before Trump's publications that Canadian officials expect Trump to issue decrees on trade and the border as soon as he takes office. The official was not authorized to speak publicly and spoke on condition of anonymity. The Mexican Secretariats of Foreign Affairs and Economy have not yet commented on Trump's statements. Normally, such important matters are addressed by the president during her morning press conferences. Last week, a senior Chinese trade official said that higher tariffs on Chinese exports would be counterproductive by raising prices for American consumers. The Vice Minister of Commerce, Wang Shouwen, also stated that China can handle the impact of such “external shocks.”
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Global Loading Spout Industry To Grow At 5.32% CAGR, Surpassing USD 8,324.3 Million By 2034, Driven By Automation, Trade, And Environmental Regulations Future Market Insights, Inc.Traders working on the floor of the New York Stock Exchange, in New York City. NEW YORK - Wall Street stocks finished little changed Dec 19 as Treasury bond yields climbed further in the wake of a Federal Reserve decision that prompted deep selling in the prior session. US indices bounced early in the day, but the rebound faded as the yield on the 10-year US Treasury note rose above 4.5 per cent. The Fed on Dec 18 lowered interest rates but signaled it expects fewer interest rate cuts in 2025. The Dow Jones Industrial Average rose less than 0.1 per cent to 42,342.24. The broad-based S&P 500 slipped 0.1 per cent to 5,867.08, while the tech-rich Nasdaq Composite Index also declined 0.1 per cent to 19,372.77. The Dec 19 move in stocks is “kind of a lacklustre recovery effort,” said Briefing.com analyst Patrick O’Hare. “A lot of good news has been priced into this market,” he said. “And now the market is going to sit back and see if a lot of that good news that’s priced in actually comes to fruition.” Investors were monitoring Capitol Hill where an intervention by President-elect Donald Trump on a spending Bill raised the possibility of a government shutdown. Among individual companies, Micron Technology sank 16.2 per cent after projecting earnings that lagged estimates. While the chip company benefited from strong demand for artificial intelligence, analysts pointed to a drag from weak demand for personal computers and automobile clients. But Darden Restaurants, which owns the Olive Garden and other chains, jumped 14.7 per cent after projecting a 1.5 per cent rise in same-restaurant sales for its full fiscal year. AFP Join ST's Telegram channel and get the latest breaking news delivered to you. Read 3 articles and stand to win rewards Spin the wheel now
TheMaryBurke: Revolutionizing Gaming Content! A New Era of Interactive StreamingWASHINGTON (AP) — Matt Gaetz withdrew Thursday as President-elect Donald Trump’s pick for attorney general amid continued fallout over a federal sex trafficking investigation that cast doubt on his ability to be confirmed as the nation's chief federal law enforcement officer. The announcement caps a turbulent eight-day period in which Trump sought to capitalize on his decisive election win to force Senate Republicans to accept provocative selections like Gaetz, who had been investigated by the Justice Department before being tapped last week to lead it. The decision could heighten scrutiny on other controversial Trump nominees, including Pentagon pick Pete Hegseth , who faces sexual assault allegations that he denies. “While the momentum was strong, it is clear that my confirmation was unfairly becoming a distraction to the critical work of the Trump/Vance Transition,” Gaetz, a Florida Republican who one day earlier met with senators in an effort to win their support, said in a statement. “There is no time to waste on a needlessly protracted Washington scuffle, thus I’ll be withdrawing my name from consideration to serve as Attorney General. Trump’s DOJ must be in place and ready on Day 1," he added. Trump, in a social media post, said: “I greatly appreciate the recent efforts of Matt Gaetz in seeking approval to be Attorney General. He was doing very well but, at the same time, did not want to be a distraction for the Administration, for which he has much respect. Matt has a wonderful future, and I look forward to watching all of the great things he will do!” He did not immediately announce a new selection. Last week, he named personal lawyers Todd Blanche, Emil Bove and D. John Sauer to senior roles in the department. Another possible contender, Matt Whitaker, was announced Wednesday as the U.S. ambassador to NATO. The withdrawal, just a week after the pick was announced, averts what was shaping up to be a pitched confirmation fight that would have tested how far Senate Republicans were willing to go to support Trump’s Cabinet picks. The selection of the fierce Trump ally over well-regarded veteran lawyers whose names had circulated as possible contenders stirred concern for the Justice Department's independence at a time when Trump has openly threatened to seek retribution against political adversaries. It underscored the premium Trump places on personal loyalty and reflected the president-elect's desire to have a disruptor lead a Justice Department that for years investigated and ultimately indicted him. In the Senate, deeply skeptical lawmakers sought more information about Justice Department and congressional investigations into sex trafficking allegations involving underage girls, which Gaetz has denied. Meanwhile, Justice Department lawyers were taken aback by the pick of a partisan lawmaker with limited legal experience who has echoed Trump's claims of a weaponized criminal justice system. As Gaetz sought to lock down Senate support, concern over the sex trafficking allegations showed no signs of abating. In recent days, an attorney for two women said his clients told House Ethics Committee investigators that Gaetz paid them for sex on multiple occasions beginning in 2017, when Gaetz was a Florida congressman. One of the women testified she saw Gaetz having sex with a 17-year-old at a party in Florida in 2017, according to the attorney, Joel Leppard. Leppard has said that his client testified she didn’t think Gaetz knew the girl was underage, stopped their relationship when he found out and did not resume it until after she turned 18. The age of consent in Florida is 18. "They’re grateful for the opportunity to move forward with their lives,” Leppard said Thursday of his clients. “They’re hoping that this brings final closure for all the parties involved.” Gaetz has vehemently denied any wrongdoing. The Justice Department’s investigation ended last year with no charges against him. Gaetz’s political future is uncertain. He had abruptly resigned his congressional seat upon being selected as attorney general, a move seen as a way to shut down the ethics investigation into sexual misconduct allegations. He did win reelection in November for the new Congress, which convenes Jan. 3, 2025, but he said in his resignation letter last week to House Speaker Mike Johnson that he did not intend to take the oath of office. He transmitted a similar letter to Florida Gov. Ron DeSantis as the state launched a special election process to fill the vacancy. Republicans on the House Ethics Committee declined this week to release the panel's findings, over objections from Democrats in a split vote. But the committee did agree to finish its work and is scheduled to meet again Dec. 5 to discuss the matter. As word of Gaetz's decision spread across the Capitol, Republican senators seemed divided. Oklahoma Sen. Markwayne Mullin, who served with Gaetz in the House, called it a “positive move." Maine Sen. Susan Collins said Gaetz “put country first and I am pleased with his decision.” Others said they had hoped Gaetz could have overhauled the department. Florida Sen. Rick Scott, a close ally of Trump, said he was “disappointed. I like Matt and I think he would have changed the way DOJ is run.” Kentucky Sen. Rand Paul said he hoped that Trump will pick someone “equally as tenacious and equally as committed to rooting out and eliminating bias and politicization at the DOJ.” Gaetz is not the only Trump pick facing congressional scrutiny over past allegations. A detailed investigative police report made public Wednesday shows that a woman told police that she was sexually assaulted in 2017 by Hegseth, the former Fox News host now tapped to lead the Pentagon, after he took her phone, blocked the door to a California hotel room and refused to let her leave. “The matter was fully investigated and I was completely cleared,” Hegseth told reporters Thursday at the Capitol, where he was meeting with senators to build support for his nomination. Associated Press writers Michelle L. Price, Lisa Mascaro, Mary Clare Jalonick and Adriana Gomez Licon contributed to this report. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Stay up-to-date on the latest in local and national government and political topics with our newsletter.
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