“The U.S. is the second-largest steel importer in the world, according to the International Trade Administration. In 2023, the U.S. imported 25.6 million metric tons of steel and exported a little more than 8.2 million metric tons. About half of the aluminum used domestically is imported and by global standards, the U.S. has a very small aluminum smelting industry. Steel and aluminum imports to the U.S. were valued at nearly $50 billion in 2024, per Bloomberg.”
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“Imposing levies on steel and aluminum will increase costs for domestic energy projects (which will be passed on to consumers) while hamstringing America’s energy dominance. In recent years, high material costs (and burdensome regulations) have led to cancellations or price tag hikes for offshore wind energy, advanced nuclear power, and transmission line projects. Instead of building oil pipelines to the U.S., these trade barriers could also incentivize Canadian energy companies to invest in other markets, such as Japan, says Wayne Winegarden, an economist at the Pacific Research Institute, a free market think tank. “This really is one of the dumbest things we could be doing,” Winegarden tells Reason.
Importantly, these tariffs won’t accomplish Trump’s stated goal of “making America rich again.”
A study from the International Trade Commission found tariffs on steel (25 percent) and aluminum (10 percent) implemented during the first Trump administration decreased production and increased costs in downstream industries that use these materials by 0.6 percent and 0.2 percent, respectively. Total production in downstream industries was $3.5 billion less in 2021 because of these tariffs. The Tax Foundation estimates that repealing tariffs and their quotas would increase long-run gross domestic product by $3.5 billion and create thousands of jobs.”
““Victory” cologne and perfume. “Crypto President” watches. Limited-edition “American Eagle” guitars. T-branded golf shoes and “Fight Fight Fight” high-top sneakers.
These are just a sample of the many products licensed to bear President-elect Donald Trump’s brand, including some that he has promoted on his social media site Truth Social just weeks before his inauguration. If he continues to hawk his merchandise after returning to the White House, that could raise ethical concerns.
Consumer goods may be the least of Trump’s issues, however. He has a number of business ventures — including his social media platform, a nascent crypto firm, and the Trump Organization’s partnerships in the Middle East — that could present conflicts of interest, make the presidency vulnerable to foreign influence, and violate federal law.”
“The sort of lawsuits Trump is filing against media companies are “the latest workaround that wealthy and powerful people who want to bully the press have found to attempt to circumvent the well-established safeguards for the press under the First Amendment against
“If the White House’s preliminary assessment is accurate, it would be the largest tax increase on Americans since World War II—and one that Trump would apparently seek to implement without congressional approval.
The specifics of Trump’s reciprocal tariffs plan remain sparse. The executive order Trump signed Thursday instructed the Department of Commerce and the U.S. Trade Representative to develop new proposed tariff levels that take into account the tariffs charged by other countries to import American goods, as well as industrial subsidies, value-added taxes, and other economic policies that Trump views as unfair. It will take weeks (and perhaps longer) for the new tariffs to be calculated and rolled out, and the changes may be implemented on a country-by-country basis, according to Megan Cassella, a reporter for CNBC.”
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“The direct costs of taxes on so many imports would be only part of the problem. Trump’s idea of charging different tariffs on every country’s exports means the same product could be charged wildly different tax rates depending on where it was sourced. Those tariff rates would also be subject to constant fluctuation, as other countries shift their policies—as many will likely do in response to Trump’s new tariffs. That’s a recipe for not only higher taxes on American businesses that rely upon imports but also a constant state of uncertainty.”
“The departures amounted to a stunning condemnation of the actions of the department’s leadership just days after a close Trump ally, former Florida Attorney General Pam Bondi, was sworn in as attorney general. Just three weeks into Trump’s second term, the department has been rocked by firings, transfers and resignations.
Adams pleaded not guilty last September to charges that while in his prior role as Brooklyn borough president, he accepted over $100,000 in illegal campaign contributions and lavish travel perks such as expensive flight upgrades, luxury hotel stays and even a trip to a bathhouse from people wanting to buy his influence. He has denied any wrongdoing.
Federal agents had also been investigating some of Adams’ aides. It was unclear what will happen to that part of the investigation.
In a memo Monday, Bove had directed Sassoon to drop the case as soon as practicable, so the mayor of America’s largest city could help with Trump’s immigration crackdown and could himself campaign for reelection unencumbered by criminal charges. Adams faces multiple challengers in June’s primary.”
“In the weeks since Trump’s inauguration, he and Musk have made claims from the Oval Office and on social media about specific programs such as disaster relief for states, lodging for migrants in cities and that 150-year-olds are receiving Social Security payments. However, what few details were provided were vague, unsupported and sometimes false.
In fact, Musk admitted Tuesday that some of its claims might be “incorrect.”
During his first news conference since starting DOGE, Musk backtracked on a claim that $50 million was spent by the federal government to give condoms to Gaza and Hamas. White House press secretary Karoline Leavitt first made that claim at a White House briefing last month and was spread wide by Trump, Musk and Republican lawmakers.
In fact, the condoms were sent to a province in Mozambique named Gaza as part of an HIV prevention measure.”
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“On Thursday, the billionaire reposted to his 217.5 million followers on X a claim that Reuters was awarded $9 million by the Department of Defense for a “social engineering” program and called it a “scam.” Trump passed the claim along on his Truth Social platform, posting “GIVE BACK THE MONEY NOW!”
However, public records show the contract was awarded in 2018, during Trump’s first term, to Thompson Reuters Special Services division, not its news organization, following a request from the previous year from a Department of Defense agency for research on “automated defense social engineering attacks.””
“The Trump administration on Thursday intensified its sweeping efforts to shrink the size of the federal workforce, the nation’s largest employer, by ordering agencies to lay off nearly all probationary employees who had not yet gained civil service protection — potentially affecting hundreds of thousands of workers.
In addition, workers at some agencies were warned that large workplace cuts would be coming.
The decision on probationary workers, who generally have less than a year on the job, came from the Office of Personnel Management, which serves as a human resources department for the federal government. The notification was confirmed by a person familiar with the matter, who spoke on condition of anonymity because they were not authorized to discuss it publicly.”
LC: Is firing people irrespective of the agency’s need for their skills faithfully executing the laws of the nation?
“President Donald Trump on Thursday signed his plan for reciprocal tariffs but delayed their implementation as his administration launches negotiations on a one-by-one basis with nations that could be impacted.
“The Plan shall ensure comprehensive fairness and balance across the international trading system,” read the memorandum signed by Trump.
The studies of each country could be completed by April 1, incoming Commerce Secretary Howard Lutnick said Thursday while standing at Trump’s side, adding that then “we’ll hand the president the opportunity” to start implementing them as soon as on April 2.”
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“Nations from India to Brazil to South Korea have long charged higher average duties on various goods and will clearly be in the middle of coming talks.
Trump’s memo Thursday outlined how non-tariff barriers, such as the VAT, would also be subject to reciprocity.
“For purposes of this United States Policy, we will consider Countries that use the VAT System, which is far more punitive than a Tariff, to be similar to that of a Tariff,” Trump posted to Truth Social on Thursday.
That issue is likely to be a sizable stumbling block in relations with the European Union.”
LC: VATs are applied to domestic products and imports, so treating a VAT like an import tariff that is just applied to the import, makes no sense.