Author: Robert Jones

Kevin Hassett, director of the National Economic Council, said on Sunday that President Donald Trump’s administration will hold onto its current tariff rates on other countries despite market volatility, describing the measures as “final deals.”Why It MattersSince the first introduction in early April, the Trump administration’s tariffs have sparked widespread criticism from both sides of the aisle. They have also triggered sharp declines in financial markets and increased global economic uncertainty, with major indexes falling and international partners warning of reprisals.Hassett’s statements during his interview appearance on NBC News’ Meet the Press shows that the White House intends to hold…

Texas state Rep. Chris Turner, D-Arlington, speaks alongside members of the Texas House Democratic Caucus during a press conference on the first day of the 87th Legislature’s special session on July 8, 2021 in Austin, Texas.Tamir Kalifa | Getty ImagesCHICAGO — In an extraordinary move to counter Republican redistricting in Texas, dozens of Democrats in the state House of Representatives are heading here Sunday to deny a necessary quorum for the GOP to move forward with those efforts.The roughly 30 Democrats are expected to stay for the week in a plan brokered with Illinois Gov. JB Pritzker, who had met with…

WASHINGTON (AP) — President Donald Trump on Friday removed the head of the agency that produces the monthly jobs figures after a report showed hiring slowed in July and was much weaker in May and June than previously reported.Trump, in a post on his social media platform, alleged that the figures were manipulated for political reasons and said that Erika McEntarfer, the director of the Bureau of Labor Statistics, who was appointed by former President Joe Biden, should be fired. He provided no evidence for the charge. “I have directed my Team to fire this Biden Political Appointee, IMMEDIATELY,” Trump…

Former U.S. Treasury Secretary Larry Summers warned that President Donald Trump may be trying to “scapegoat” Federal Reserve chair Jerome Powell in the event the economy slows down enough to hit a recession.”He’s looking to set up a scapegoat if the economy performs badly,” Summers said during an appearance on ABC News’ This Week. “That’s what this attacking chairman Powell is really about. It’s not really about trying to change policy.”Why It MattersTrump has made tariffs the centerpiece of his economic and foreign policy plans, using trade negotiations to try and end conflicts and completely reshape the international trade landscape…

SAN SALVADOR, El Salvador (AP) — El Salvador’s Legislative Assembly pushed through a constitutional reform overnight eliminating presidential term limits, fueling concerns on Friday that it paves the way for President Nayib Bukele to indefinitely stay in power.Watchdogs and critics of the self-described “world’s coolest dictator” said they’ve seen this coming for years, watching Bukele’s administration slowly chip away at democratic institutions, attack opponents and consolidate power in the president’s hands.Bukele, who regularly posts streams of tongue-in-cheek remarks on social media, remained notably silent Friday. His government didn’t respond to multiple requests for comment.“It’s not surprising. But that doesn’t mean…

Nvidia has ordered 300,000 new top-line computer chips from the Taiwan Semiconductor Manufacturing Company (TSMC) following a huge boost in demand from China.The agreement over the H20 chipsets, which are some of the most advanced technology being produced in Taiwan’s industry-leading factories, comes in the same month that Trump reversed a ban that stopped Nvidia from selling to China over security concerns.Newsweek contacted the Chinese Embassy and the White House for comment on this story via email.Why It MattersThe January launch of DeepSeek, a Chinese-made AI model, , sparked what may have called a “cold war” over artificial intelligence development.…

WASHINGTON (AP) — A stalemate over the pace of confirmations has delayed the Senate’s yearly August recess, for now, as President Donald Trump declares that his nominees “should NOT BE FORCED TO WAIT” and as Democrats slow the process by forcing procedural votes on almost all of Trump’s picks. Caught in the middle, Senate Majority Leader John Thune says he will keep the Senate in session over the weekend, at least, to hold confirmation votes while also negotiating with Democrats to speed up consideration of dozens of nominees. The two sides haven’t come to agreement yet, and it’s still unclear…

Facebook Tweet Email Link National Economic Council Director Kevin Hassett on Sunday defended Donald Trump’s decision to fire Bureau of Labor Statistics Commissioner Erika McEntarfer, claiming the president “wants his own people there.” Last week, a weaker-than-expected jobs report proved to be a sore spot for the economy — and the president. The Bureau of Labor Statistics’ monthly jobs report on Friday showed the US economy added just 73,000 jobs in July. The monthly totals for May and June were also revised down by a combined 258,000 jobs. After the report was released, Trump posted to Truth Social that “today’s…

MANZINI, Eswatini (AP) — Five immigrants deported by the United States to Eswatini in a secret deal last month had served their criminal sentences before they were sent to be held in a prison in the African country, a lawyer working on their cases said Friday.The Eswatini lawyer also said the men from Cuba, Jamaica, Laos, Yemen and Vietnam sent to southern Africa under President Donald Trump’s third-country deportation program have been denied access to legal representation while being held in Eswatini’s main maximum-security prison. The lawyer, Sibusiso Nhlabatsi, said he hasn’t been allowed to see the men and that…

President Donald Trump has signed an executive order reimposing the “reciprocal tariffs” announced on April 2.Dozens of nations that run trade surpluses with the U.S., including those able to strike a deal ahead of the deadline, now face rates ranging from 10 percent to 41 percent on their imports.Why It MattersThe return of reciprocal tariffs after a 114-day-long reprieve is expected to hold significant implications for the future global commerce, while also advancing the administration’s aim of narrowing trade deficits and boosting government revenues.For the U.S., these could translate to higher prices on imported goods, renewed inflationary pressures, as well…