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‘The Bottom Line’ panelists Lee Carter and Liz Peek give their take on President Donald Trump confirming the 25% tariffs. Canadian Prime Minister Justin Trudeau announced 25% tariffs on American goods in response to President Donald Trump’s tariffs that are going into effect on Canadian imports at midnight on Tuesday. The retaliatory tariffs Canada is imposing on $155 billion of U.S. goods take effect Tuesday at 12:01 a.m.Trump signed an executive order authorizing an additional 25% tariff on imports from Canada and Mexico, and an additional 10% tariff on Chinese imports. Energy imported from Canada, including oil, natural gas and…
New Delhi CNN — Dozens of construction workers have been pulled alive from metal containers after they were trapped by a deadly Himalayan avalanche for around 36 hours, according to authorities in northern India. The Indian Army launched a rescue operation after heavy snowfall triggered the avalanche last Friday near a construction site in the village of Mana, Uttarakhand state, about 10,500 feet (3,200 meters) above sea level. Some 46 workers survived inside the containers, Indo-Tibetan Border Police and the Indian Army said. Eight workers were killed, officials said. Many of those rescued were migrant laborers constructing a highway in…
CNN — President Donald Trump is ordering a pause on shipments of US military aid to Ukraine after his heated Oval Office argument with Ukrainian President Volodymyr Zelensky last week, a White House official told CNN Monday. The halt in aid, which came after Trump held a series of meetings with top national security officials at the White House, could have dire effect on Ukraine’s war-fighting abilities, officials and analysts said. It will remain in place until Trump determines Zelensky has made a commitment to seeking peace talks, one official said, essentially forcing Ukraine to a negotiating table by threatening…
CNN — Tariffs might be President Donald Trump’s favorite word. To legendary investor Warren Buffett, there is less to be excited about. “Tariffs are actually — we’ve had a lot of experience with them — they’re an act of war, to some degree,” Buffett said in an interview with CBS that aired on Sunday. The Berkshire Hathaway CEO and billionaire investor said tariffs over time serve as a tax on goods and could raise prices for consumers. “The Tooth Fairy doesn’t pay ‘em!” Buffett said with a laugh. Tariffs disrupt trade between countries by raising taxes on imported goods, and…
Beijing CNN — China has vowed to “fight till the end” after US President Donald Trump escalated his trade war by doubling tariffs on all Chinese imports to 20%. Beijing hit back at Trump’s levies by imposing retaliatory tariffs of up to 15% on selected American goods, expanding export controls to a dozen US firms and filing a lawsuit at the World Trade Organization. It also sent a stern warning to the Trump administration: Chinese people will never bow to “hegemony or bullying.” “Pressure, coercion and threats are not the right ways to engage with China. Trying to exert maximum…
CNN — Senate Democrats on Monday blocked a GOP-led bill that would ban transgender athletes from women’s and girls’ sports at federally funded schools and educational institutions. The bill’s failure to advance highlights the limits of Republicans’ narrow margins in Congress, despite control of both chambers. The party still needs support from Democrats in the Senate for most legislation to clear a 60-vote threshold. The party line vote was 51-45. The Senate vote comes as GOP-led states across the country continue to put forward anti-trans measures, including bills intended to keep transgender students from playing on sports teams consistent with…
CNN — President Donald Trump’s blanket 25% tariffs on Mexico and Canada took effect on Tuesday, an extraordinary action aimed at bringing America’s top trading partners to heel. But it threatens to weaken the North American economy, including that of the United States, at a time of significant stress. Trump also doubled the tariff on all Chinese imports to 20% from 10%. Those duties sit atop existing tariffs on hundreds of billions in Chinese goods. “While President Trump gave both Canada and Mexico ample opportunity to curb the dangerous cartel activity and influx of lethal drugs flowing into our country,…
CNN — A delicate truce between Israel and Hamas hangs by a thread after Israel blocked humanitarian aid into Gaza, in response to Hamas rejecting a new Israeli proposal to extend the ceasefire without any commitment to end the war or fully withdraw troops. Hamas has accused Israel of violating the agreement, calling its decision to halt humanitarian aid “cheap blackmail” and a “war crime.” Fifty-nine hostages remain in Gaza after the return of four bodies last week. Of the 59, 24 are thought to be alive, according to Israeli authorities. Meanwhile, aid groups and the United Nations have slammed…
New York CNN — US stocks slid Monday as investors braced for President Donald Trump’s proposed tariffs on Canada and Mexico to go into effect by the midnight deadline. The Dow tumbled 650 points, or 1.48%, to close at 43,191. The Dow fell almost 900 points in afternoon trading before pulling back slightly. The broader S&P 500 fell 1.76% and the Nasdaq Composite fell 2.64%. The S&P 500 posted its biggest one-day decline of the year. The Nasdaq is down about 6.5% since since Trump took office on January 20. “Tomorrow, tariffs — 25% on Canada and 25% on Mexico,”…
CNN — Tariffs might be President Donald Trump’s favorite word. To legendary investor Warren Buffett, there is less to be excited about. “Tariffs are actually — we’ve had a lot of experience with them — they’re an act of war, to some degree,” Buffett said in an interview with CBS that aired on Sunday. The Berkshire Hathaway CEO and billionaire investor said tariffs over time serve as a tax on goods and could raise prices for consumers. “The Tooth Fairy doesn’t pay ‘em!” Buffett said with a laugh. Tariffs disrupt trade between countries by raising taxes on imported goods, and…