Trump says it could take 2 years before tariffs result in American manufacturing boom
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President Donald Trump stated on April 3, 2025, that it could take two years for his tariffs to lead to a manufacturing boom in the U.S.; he announced a 10% tariff on all trade partners and higher tariffs on specific nations like China; Trump compared the economy to a sick patient needing surgery, asserting that short-term pain is expected; Jay Timmons, CEO of the National Association of Manufacturers, criticized the tariffs, warning they threaten investment and jobs; China retaliated with a 34% tariff on U.S. goods, causing further market declines; Trump emphasized his policies will not change despite market reactions.
#Trump #Tariffs #Manufacturing #Economy #China #Markets #NationalAssociationOfManufacturers #JayTimmons #Retaliation #Policy
Trump says it could take 2 years before tariffs result in American manufacturing boom
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President Donald Trump stated on April 3, 2025, that it could take two years for his tariffs to lead to a manufacturing boom in the U.S.; he announced a 10% tariff on all trade partners and higher tariffs on specific nations like China; Trump compared the economy to a sick patient needing surgery, asserting that short-term pain is expected; Jay Timmons, CEO of the National Association of Manufacturers, criticized the tariffs, warning they threaten investment and jobs; China retaliated with a 34% tariff on U.S. goods, causing further market declines; Trump emphasized his policies will not change despite market reactions.
#Trump #Tariffs #Manufacturing #Economy #China #Markets #NationalAssociationOfManufacturers #JayTimmons #Retaliation #Policy
Trump says it could take 2 years before tariffs result in American manufacturing boom
==========
President Donald Trump stated on April 3, 2025, that it could take two years for his tariffs to lead to a manufacturing boom in the U.S.; he announced a 10% tariff on all trade partners and higher tariffs on specific nations like China; Trump compared the economy to a sick patient needing surgery, asserting that short-term pain is expected; Jay Timmons, CEO of the National Association of Manufacturers, criticized the tariffs, warning they threaten investment and jobs; China retaliated with a 34% tariff on U.S. goods, causing further market declines; Trump emphasized his policies will not change despite market reactions.
#Trump #Tariffs #Manufacturing #Economy #China #Markets #NationalAssociationOfManufacturers #JayTimmons #Retaliation #Policy
Trump says it could take 2 years before tariffs result in American manufacturing boom
==========
President Donald Trump stated on April 3, 2025, that it could take two years for his tariffs to lead to a manufacturing boom in the U.S.; he announced a 10% tariff on all trade partners and higher tariffs on specific nations like China; Trump compared the economy to a sick patient needing surgery, asserting that short-term pain is expected; Jay Timmons, CEO of the National Association of Manufacturers, criticized the tariffs, warning they threaten investment and jobs; China retaliated with a 34% tariff on U.S. goods, causing further market declines; Trump emphasized his policies will not change despite market reactions.
#Trump #Tariffs #Manufacturing #Economy #China #Markets #NationalAssociationOfManufacturers #JayTimmons #Retaliation #Policy
Trump says it could take 2 years before tariffs result in American manufacturing boom
==========
President Donald Trump stated on April 3, 2025, that it could take two years for his tariffs to lead to a manufacturing boom in the U.S.; he announced a 10% tariff on all trade partners and higher tariffs on specific nations like China; Trump compared the economy to a sick patient needing surgery, asserting that short-term pain is expected; Jay Timmons, CEO of the National Association of Manufacturers, criticized the tariffs, warning they threaten investment and jobs; China retaliated with a 34% tariff on U.S. goods, causing further market declines; Trump emphasized his policies will not change despite market reactions.
#Trump #Tariffs #Manufacturing #Economy #China #Markets #NationalAssociationOfManufacturers #JayTimmons #Retaliation #Policy
FTC bans noncompete agreements for many Americans but legal battle looms that would delay change
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The Federal Trade Commission (FTC) has voted to ban noncompete agreements, which could affect up to 30 million Americans. The ban, approved 3-2, aims to give workers the freedom to pursue new jobs, start businesses, or bring new ideas to market. Noncompete agreements are clauses in employment contracts that restrict employees from working for rival companies within a certain geographic area or time frame. The FTC rule will take effect in 120 days, but a legal battle is expected to delay its implementation. Pro-business groups, including the U.S. Chamber of Commerce, have opposed the ban and plan to sue the FTC. The AFL-CIO, the largest union organization in the U.S., supports the ban, stating that noncompete agreements trap workers, drive down wages, and stifle competition. The ban would apply to all workers entering new employment agreements, while existing agreements would become unenforceable. There is an exception for senior executives earning more than $151,164 per year. The FTC estimates that the ban could increase workers' combined wages by up to $488 billion over the next decade.
#Ftc #NoncompeteAgreements #EmploymentContracts #Workers #LegalBattle #UsChamberOfCommerce #Aflcio
In race for his Senate seat, Joe Manchin endorses West Virginia Democratic Mayor Glenn Elliott
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Outgoing U.S. Sen. Joe Manchin has endorsed Wheeling Mayor Glenn Elliott in the Democratic primary race for his seat representing West Virginia. Manchin praised Elliott's record of creating jobs, lowering crime rates, and revitalizing downtown Wheeling. Manchin announced he would not run for reelection in 2024. Elliott, a lawyer and former legislative assistant to U.S. Sen. Robert Byrd, is running against Marine Corps veteran Zach Shrewsbury and ex-coal executive Don Blankenship for the Democratic nomination. The Democratic nominee will face either Republican Gov. Jim Justice or U.S. Rep. Alex Mooney in the general election. Elliott supports much of what President Joe Biden has done during his administration and believes that Washington often disregards West Virginians. Manchin was first elected to the Senate seat in 2010.
#JoeManchin #GlennElliott #WestVirginia #DemocraticPrimary #SenateSeat #Endorsement
Modi is accused of using hate speech for calling Muslims 'infiltrators' at an Indian election rally
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India's main opposition party, the Congress party, has accused Prime Minister Narendra Modi of using hate speech after he called Muslims 'infiltrators' at a campaign rally in the state of Rajasthan. The remarks drew criticism for peddling anti-Muslim tropes, and the Congress party filed a complaint with the Election Commission of India, alleging that Modi broke rules that bar candidates from aggravating religious tensions. Critics argue that India's tradition of diversity and secularism has come under attack since Modi's Bharatiya Janata Party (BJP) came to power, accusing the party of fostering religious intolerance and violence. The BJP denies these accusations and claims that its policies benefit all Indians. The election results are expected to be announced on June 4. Modi's comments referred to a 2006 statement by then-Prime Minister Manmohan Singh of the Congress party, in which Singh said that India's disadvantaged groups, including the Muslim minority, deserved to share in the country's development equally. The Congress party also accused Modi and the BJP of repeatedly using religion and religious symbols in their election campaign, and called for action from the election commission. Modi's BJP has previously referred to Muslims as infiltrators and has made laws restricting interfaith marriage. Critics argue that Modi's silence on hate speech has emboldened his extreme supporters and enabled more hate speech against Muslims.
#India #NarendraModi #Muslims #HateSpeech #ElectionRally #CongressParty #Bjp #ReligiousTensions
Pennsylvania's primary will cement Casey, McCormick as nominees in a battleground US Senate race
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Pennsylvania's primaries will determine the nominees for the high-stakes U.S. Senate race between Democratic Sen. Bob Casey and Republican challenger David McCormick. The race is expected to cost hundreds of millions of dollars and could help decide control of the Senate next year. Casey, seeking his fourth term, is a prominent figure in Pennsylvania's Democratic Party, while McCormick is a former hedge fund CEO who narrowly lost in the 2022 GOP primary. McCormick has consolidated party support and is backed by a super PAC that has raised over $20 million. The candidates have different positions on issues such as abortion rights, immigration, and national security. Democrats currently hold a narrow Senate majority and face a challenging 2024 Senate map. Pennsylvania's primary will also decide nominees for other statewide offices and congressional seats.
#Pennsylvania #Primary #UsSenateRace #BobCasey #DavidMccormick #DemocraticParty #RepublicanParty #SuperPac #AbortionRights #Immigration #NationalSecurity #SenateMajority #CongressionalSeats
Congress gets closer to forcing TikTok to be sold or face US ban: What's next
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The House of Representatives passed a $95 billion foreign aid package that includes legislation to force a sale of TikTok by its Chinese parent company, ByteDance. If the measure becomes law and the sale doesn't occur within a year, the app would be banned in the US. The Senate plans to take up the foreign aid package next week. TikTok has defended its data management and says it is not owned or controlled by any government or state entity. The TikTok measure could still be stripped out of the foreign aid legislation in the Senate. China has indicated it would oppose a forced sale of the app's technology. Many TikTokers oppose the legislation and have held demonstrations and signed open letters to President Joe Biden.
#Tiktok #UsBan #ForcedSale #Bytedance #DataManagement #ChineseGovernment
https://abcnews.go.com/Politics/tiktok-ban-senate-pass-legislation/story?id=109476142
Biden avoids a further Mideast spiral as Israel and Iran show restraint. But for how long?
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Israel and Iran have shown restraint, avoiding further escalation in the Middle East. President Joe Biden urged Israel to temper its response to Iran's attack and avoid violence. Iran's public response to Israeli strikes was muted. Biden's handling of foreign affairs has received negative appraisals from voters. Concerns about foreign policy issues are growing among Americans. Biden's approval ratings dropped after the withdrawal of U.S. troops from Afghanistan. The situation remains delicate as Israel and Hamas are far from reaching an agreement on a cease-fire. The Biden administration is holding Israel accountable while trying to provide humanitarian relief to Gaza. The future remains complicated and uncertain.
#Israel #Iran #MiddleEast #JoeBiden #ForeignPolicy
https://abcnews.go.com/US/wireStory/biden-avoids-mideast-spiral-israel-iran-show-restraint-109460599
Rep. Mike McCaul, Rep. Ro Khanna and Retired Justice Stephen Breyer Sunday On ‘This Week’ with Co-Anchor Jonathan Karl
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Rep. Mike McCaul, Rep. Ro Khanna, and Retired Justice Stephen Breyer will appear on 'This Week' with co-anchor Jonathan Karl. The episode will air on Sunday, April 21, 2024. Rep. Mike McCaul is the Foreign Affairs Committee Chair. Rep. Ro Khanna is also a guest. Retired Justice Stephen Breyer, author of 'Reading the Constitution: Why I Chose Pragmatism, Not Textualism,' will also be featured. The episode will include a segment on efforts to mobilize environmentally conscious voters in battleground Pennsylvania ahead of the 2024 election. The episode will also feature Donna Brazile, Reince Priebus, and Rachael Bade as part of the Powerhouse Roundtable. The show can be followed on Facebook and Twitter.
https://abcnews.go.com/Politics/rep-mike-mccaul-rep-ro-khanna-retired-justice/story?id=109436698
Congressional party leaders reach 'consensus' on aid to Israel and Ukraine, Schumer says
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During a call between President Joe Biden and congressional leaders, there was 'consensus' that Congress needs to act quickly to send aid to both Israel and Ukraine. Israeli Prime Minister Benjamin Netanyahu and the country's war cabinet have met several times since Iran's attack, and at least two retaliatory strikes against Iran were previously aborted. Israel launched missiles in a retaliatory strike against Iran, following Iran's attack where the country sent a volley of more than 300 uncrewed drones and missiles toward targets throughout Israel. Israel's Iron Dome defense system intercepted 99% of the threats launched by Iran. Flights to Tehran, Isfahan, and Shiraz have been suspended after an explosion was heard in the city of Qahjavaristan. Israeli missiles have hit a site in Iran, but it is unclear if Syria and Iraq sites were hit as well. US officials expressed concerns over the Israeli military's plans for an operation in Rafah in Gaza. Israel has made significant progress in preparations for the evacuation of around 1 million civilians from Rafah ahead of the impending operation. Senate Majority Leader Chuck Schumer said there was 'consensus' that Congress needs to act quickly to send aid to both Israel and Ukraine.
#Israel #Ukraine #Aid #Congress #Iran #RetaliatoryStrikes #IronDome #Explosion #Rafah #Evacuations
Israel-Gaza live updates: Israel retaliates against Iran, US official says
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Israel had planned and then aborted at least two retaliatory strikes against Iran this week. Israel launched missiles in a retaliatory strike against Iran. Iran launched 170 unmanned aerial vehicles (UAVs), more than 120 ballistic missiles, and more than 30 cruise missiles in the attack on Israel. Flights to Tehran, Isfahan, and Shiraz have been suspended following reports of an explosion in Qahjavaristan, Iran. Israeli missiles have hit a site in Iran. In a meeting between U.S. and Israeli officials, the two sides discussed the attack by Iran and the Israeli military's plans for an operation in Rafah in Gaza. Israel has made significant progress in preparations for the evacuation of around 1 million civilians from Rafah ahead of the Israeli military's impending operation in the southern Gaza city.
#Israel #Gaza #Iran #Retaliation #Missiles #Attack #Evacuation
https://abcnews.go.com/International/live-updates/israel-gaza-hamas-war/?id=108860743
'There is no time to waste': EU leaders want to boost competitiveness to close gap with US and China
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European Union leaders are debating a new 'European Competitiveness Deal' aimed at helping the 27-nation bloc close the gap with Chinese and American rivals. The EU's share of the world's largest economies has diminished over the past 30 years, and the region is feeling pressure from U.S. and Chinese efforts to support domestic production through subsidies and tax breaks. The proposal includes an EU-wide effort to subsidize industrial companies in response to U.S. subsidies for environmentally friendly technology and China's subsidies for electric cars and solar panels. The former president of the European Central Bank, Mario Draghi, said the EU lacks a clear strategy to answer the challenges proposed by Chinese and American rivals in key industries. The report also calls for better integrating the bloc's financial markets and increasing the capacities of the European Investment Bank to invest in strategic sectors. EU rules restrict member governments' aid to companies to avoid distorting business competition across the 27-member union's free trade zone. The proposal suggests requiring countries to use a chunk of such aid for EU-wide projects instead of purely national ones.
#Eu #Competitiveness #China #Us #Subsidies #Investment #RenewableEnergy #GreenTechnology #FinancialMarkets #EuropeanInvestmentBank
Stock market today: Asian shares track Wall Street slump triggered by strong US spending data
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Asian shares skidded following a slump on Wall Street after higher yields in the U.S. bond market cranked up pressure on stocks. The Shanghai Composite index lost 1.7% to 3,007.07. The Hang Seng in Hong Kong lost 2.1% to 16,248.97. Tokyo's Nikkei 225 fell 1.9% to 38,471.20. Taiwan's Taiex led the regional decline, falling 2.7%. In South Korea, the Kospi declined 2.3% to 2,609.63, while Australia's S&P/ASX 200 fell 1.8% to 7,612.50. On Monday, the S&P 500 tumbled 1.2% to 5,061.82, following up on its 1.6% loss from last week. The Dow Jones Industrial Average dropped 0.7% to 37,735.11, and the Nasdaq composite slumped 1.8% to 15,885.02. The slump was triggered by strong US spending data, which raised hopes for growing profits at companies but also hurt prospects for easier interest rates from the Federal Reserve. Traders are now broadly forecasting just one or two cuts to rates this year, down from expectations for six or more cuts at the start of this year. High interest rates and bond yields hurt prices for all kinds of investments, particularly those that look expensive or those that compete for the same kinds of investors as bonds do. Big Tech stocks like Apple, Nvidia, and Microsoft felt pressure when yields are rising. In the oil market, a barrel of U.S. crude for May delivery slipped 10 cents to $85.31 per barrel. Brent crude, the international standard, shed 8 cents to $90.02 per barrel.
#StockMarket #AsianShares #WallStreet #UsSpendingData
https://abcnews.go.com/US/wireStory/stock-market-today-asian-shares-track-wall-street-109293273
'Traumatizing': Family calls for justice after teen holding toy gun shot by Akron police officer
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The family of a 15-year-old named Tavion Koonce-Williams is calling for justice and accountability after he was shot by an Akron, Ohio, police officer while holding a toy gun. The incident occurred on April 1, 2024, and the teenager was treated for his injuries. The Ohio Bureau of Criminal Investigation is currently investigating the incident. The family held a press conference where they demanded accountability from the Akron Police Department and compared the incident to the case of Tamir Rice, a 12-year-old who was shot and killed by a Cleveland police officer in 2014 while holding a toy gun. Body camera footage released by the city of Akron shows the officer, identified as Ryan Westlake, arriving on the scene and shooting the teen in the wrist. The officer has been placed on paid administrative leave. The Akron Police Department released Westlake's personnel file, which revealed previous disciplinary actions and use of force incidents. The family's attorney called for Westlake's termination and the release of his complete personnel file. The Akron Fraternal Order of Police expressed confidence that the officer's actions would be deemed justified once all the facts are released. The investigation is being conducted by the Ohio Bureau of Criminal Investigation and the findings will be turned over to the Ohio Attorney General's Office for review.
#PoliceShooting #Akron #ToyGun #Investigation #PressConference
How immigrant workers in US have helped boost job growth and stave off a recession
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Millions of jobs that new immigrants have been filling in the United States appear to solve a riddle that has confounded economists for at least a year: How has the U.S. economy managed to prosper, adding hundreds of thousands of jobs, month after month, at a time when the Federal Reserve has aggressively raised interest rates to fight inflation — normally a recipe for a recession? The influx of foreign-born adults vastly raised the supply of available workers after a U.S. labor shortage had left many companies unable to fill jobs. More workers filling more jobs and spending more money has helped drive economic growth and create still-more job openings. The availability of immigrant workers eased the pressure on companies to sharply raise wages and to then pass on their higher labor costs to their customers via higher prices that feed inflation. The boom in immigration caught almost everyone by surprise. In 2019, the Congressional Budget Office had estimated that net immigration — arrivals minus departures — would equal about 1 million in 2023. The actual number, the CBO said in a January update, was more than triple that estimate: 3.3 million. Over the past four years, the number of prime-age workers who either have a job or are looking for one has surged by 2.8 million. And nearly all those new labor force entrants — 2.7 million, or 96% of them — were born outside the United States. Immigrants last year accounted for a record 18.6% of the labor force, according to the Economic Policy Institute’s analysis of government data. A study by Wendy Edelberg and Tara Watson, economists at the Brookings Institution’s Hamilton Project, has concluded that over the past two years, new immigrants raised the economy’s supply of workers and allowed the United States to generate jobs without overheating and accelerating inflation. Critics counter that a surge in immigration can force down pay, particularly for low-income workers, a category that often includes immigrants who have lived in the United States longer. Ernie Tedeschi, a visiting fellow at Georgetown University's Psaros Center and a former Biden economic adviser, calculates that the burst of immigration has accounted for about a fifth of the economy's growth over the past four years.
Biden praises Prime Minister Kishida's leadership and Japan's growing international clout
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President Joe Biden praised Prime Minister Fumio Kishida's "bold" leadership on a series of global crises as he welcomed the Japanese leader to the White House. The visit included discussions on the security situation in the Pacific, the war in Ukraine, the Israel-Hamas conflict, and more. The visit marks the completion of the Democratic administration's focus on elevating the Quad partnership between the U.S., Japan, Australia, and India. Biden emphasized the unbreakable alliance between Japan and the United States and Japan's growing international influence. Kishida announced that Japan is giving 250 cherry trees to the U.S. to mark America's 250th birthday in 2026. Both Biden and Kishida are facing political challenges at home. The leaders announced plans to upgrade U.S.-Japan military relations, focusing on improving interoperability and planning between the two countries' forces. They also confirmed Japan's participation in NASA's Artemis moon program and its contribution of a moon rover. Biden praised Japan's increase in defense spending and its support in the aftermath of Russia's invasion of Ukraine. The leaders expressed openness to direct talks between Japan and North Korea over the abduction of Japanese citizens. Kishida will participate in a U.S.-Japan-Philippines summit to discuss China's aggressive actions in the region.
#JoeBiden #FumioKishida #Japan #Quad #Security #Ukraine #IsraelhamasConflict #CherryTrees #UsjapanMilitaryRelations #Nasa #ArtemisMoonProgram #NorthKorea #China #Philippines
https://abcnews.go.com/US/wireStory/biden-honor-pm-kishida-reflect-japans-growing-clout-109074159
US consumer sentiment falls slightly as outlook for inflation worsens
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The University of Michigan's consumer sentiment index fell to 77.9 this month, down from March's figure of 79.4. Americans' outlook on the economy remains largely unchanged this year. The decline in sentiment may be due to an increase in gas prices, which have risen about 7% in the past month. Consumers expect inflation to be 3.1% a year from now, exceeding the Federal Reserve's 2% target but still below the current level of 3.5%.
#UsEconomy #ConsumerSentiment #Inflation #GasPrices