Stock futures surge. Crude oil surges. US Treasury yields surge.
Trump had imposed tariffs of up to 145% on Chinese imports, prompting Beijing to respond with retaliatory curbs of its own, including restrictions on some rare earth elements. ...
Senate resolution to scrap Trump’s ‘Liberation Day’ tariffs fails despite some GOP support
A Senate vote to scrap President Trump’s wide-ranging “Liberation Day” tariffs narrowly failed on Wednesday, sparing Republicans a second consecutive blow as the president’s trade policy continues to face opposition.
Three Republicans — Sens. Susan Collins (Maine), Lisa Murkowski (Alaska) and Rand Paul (Ky.) — voted in favor of the resolution alongside every present Senate Democrat.
But Democrats ran into attendance problems. Sen. Sheldon Whitehouse (D-R.I.) was absent, along with Sen. Mitch McConnell (R-Ky.), who had voted in favor of a similar bill reversing tariffs on Canada earlier this month.
The final tally was 49-49.
McConnell and Whitehouse had both missed the two votes earlier in the day. One Senate GOP member told The Hill that McConnell was sick and unable to vote. ...
Trump exempts phones, computers, chips from new tariffs
President Donald Trump exempted smartphones, computers, and other tech devices and components from his reciprocal tariffs, new guidance from U.S. Customs and Border Protection shows.
The guidance, issued late Friday evening, comes after Trump earlier this month imposed 145% tariffs on products from China, a move that threatened to take a toll on tech giants like Apple, which makes iPhones and most of its other products in China.
The guidance also includes exclusions for other electronic devices and components, including semiconductors, solar cells, flat panel TV displays, flash drives, and memory cards. ...
Phony, baloney, plastic banana, good time rock 'n rolla.
It's always for them.
He should be in Sing Sing for this utter corruption.
Meanwhile all that bullshit about Liberation will have to wait 90 days.
Trump’s morning ‘buy’ call nets huge returns for those who listened
... Trump Media & Technology shares initially popped after Trump referenced his initials in the post, with some investors appearing to know he was referring to the stock ticker.
The stock fell to $16.69 in the minute of his post to buy shares. It has since soared as high as $20.40, which marks a jump of more than 22%. ...
Lesotho's exports to the US in 2024 were valued at $237.3 MILLION lol. Trump now wants 50% of that.
King George III, who also was nuts, was a benevolent king to America compared to this guy.
Trump's biggest tariff was on tiny Lesotho. Here's what to know about the African kingdom.
... Mr. Trump's so-called "Liberation Day" tariffs
included a whopping 50% levy on the small, impoverished nation's
imports, and the Lesotho government quickly said it would send a
delegation to Washington. ...
Lesotho's annual gross domestic product of $2 billion is highly reliant on exports, mostly of textiles, including jeans. ...
The White House claims, by way of [its] formula, that Lesotho imposes 99% tariffs and other barriers on U.S. imports. ...
With an annual gross domestic product of just over $2 billion, Lesotho is largely dependent on South Africa — it biggest trading partner — from which it imports most of its food, selling water in return.
The economy has been heavily reliant on textile exports bound for the United States through the African Growth and Opportunity Act (AGOA) trade deal, which provides duty-free access to the U.S. market for some African products. The Trump administration's imposition of tariffs on African nations has raised questions over how likely the White House is to renew the AGOA pact when it expires in September. ...