President Donald Trump has announced a flurry of trade activity ahead of Friday’s official start of his new tariffs regime — executive actions including 50% tariffs on Brazil, a 15% tax on American imports from South Korea and an end to exemptions for imported goods worth less than $800.
The implementation is being portrayed by the White House as a testament to Trump’s negotiating skills, even as concerns persist that the taxes will stunt the U.S. economy and increase inflation in ways that disproportionately harm working-class Americans. And while Trump has been getting his way on trade, strong-arming the European Union, Japan and other partners, he’s facing at least seven lawsuits charging that he’s overstepped his authority.
Meanwhile, Trump lashed out at Republican Sen. Josh Hawley after his proposal to ban stock trading by members of Congress — and the president and vice president — won bipartisan approval to advance in a committee vote. Treasury Secretary Scott Bessent sought to walk back his comments that Trump-branded investment accounts will be “a back door” to privatizing Social Security. And privacy concerns mount about a new health tracking system that would share Americans’ personal data with tech companies.
Here’s the Latest:
Trump using Canada’s recognition of Palestinian state in trade talks
Trump said Canada’s announcement it will recognize a Palestinian state “will make it very hard” for the U.S. to reach a trade agreement with its northern neighbor.
The threat posted in the early hours Thursday on Trump’s social media network is the latest way he has sought to use his trade war to coerce countries on unrelated issues, and is a swing from the ambivalence he has expressed about other countries making such a move.
“Wow! Canada has just announced that it is backing statehood for Palestine,” Trump posted on Truth Social just past midnight. “That will make it very hard for us to make a Trade Deal with them. Oh’ Canada!!!
The Republican president said this week that he didn’t mind British Prime Minister Keir Starmer taking a position on the issue of formally recognizing Palestinian statehood. And last week, he said French President Emmanuel Macron’s similar move was “not going to change anything.”
All the ways Republicans want to honor Trump, from the $100 bill to Mount Rushmore
Imagine getting the day off work for Donald Trump’s birthday. Receiving a $100 bill with Trump’s portrait on it. Touching down at Donald J. Trump International Airport near the nation’s capital. And taking in a show at the Donald J. Trump Center for Performing Arts.
All would be possible under a series of bills Republican lawmakers have sponsored this year.
Trump is little more than six months into his second term, but some Republicans are ready to elevate him into the pantheon of American greats, proposing an ever-growing list of bills paying tribute well before his second term ends. One lawmaker even proposes carving his face into Mount Rushmore.
It’s a legislative exercise that mixes flattery and politics, providing another stark reminder of the Republican Party’s transformation under Trump as lawmakers from red-leaning states and congressional districts look for ways to win the president’s good graces — and stay close to his supporters.
▶ Read more about the bills
Trump’s flurry of trade activity includes tariffs on Brazil and a deal with South Korea
The United States will impose a 25% tariff on goods from India, plus an additional import tax because of India’s purchasing of Russian oil, Trump said Wednesday.
The new tariffs were part of a flurry of trade activity that included a series of executive actions regarding Brazil, copper and shipments of goods worth less than $800, as well as a reduced 15% tax on imports from South Korea, including its autos.
It was all a prelude to Friday when Trump’s new tariff regime is scheduled to start, an event the White House has portrayed as a testament to Trump’s negotiating skills even as concerns persist about the taxes hurting growth and increasing inflationary pressures.
The South Korea agreement will impose a 15% tariff, instead of the 25% Trump had threatened. South Korea would also buy $100 billion in energy resources from the U.S. and provide $350 billion for “investments owned and controlled by the United States, and selected by myself, as president,” Trump said.
▶ Read more about Trump’s latest executive actions regarding trade
Triumphant in trade talks, Trump and his tariffs still face a challenge in federal court
Trump has been getting his way on trade, strong-arming the European Union, Japan and other partners to accept once unthinkably high taxes on their exports to the United States.
But his radical overhaul of American trade policy has not gone unchallenged. He’s facing at least seven lawsuits charging that he’s overstepped his authority. The plaintiffs want his biggest, boldest tariffs thrown out.
And they won Round One. Now it goes on to Round Two.
On Thursday, the 11 judges on the U.S. Court of Appeals for the Federal Circuit in Washington, which typically specializes in patent law, are scheduled to hear oral arguments from the Trump administration and from the states and businesses that want his sweeping import taxes struck down.
That court earlier allowed the federal government to continue collecting Trump’s tariffs as the case works its way through the judicial system.
▶ Read more about the challenges surrounding Trump’s trade policies
