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Donald Trump has just unveiled a sweeping new tariffs regime during his “Liberation Day” press conference. The announcement includes reciprocal tariffs on all foreign nations, a 25% tariff on all automobiles manufactured outside the U.S., and a blanket 10% tariff on all imported goods. In plain terms: prices are about to rise. From groceries and lumber to toys, clothing, and especially cars, nearly every imported product will be affected. It's still unclear whether any countries or sectors will be exempt. Trump stated the new tariffs will take effect at midnight tonight.
Here is a list of many reciprocal tariff rates:
25% tariff on South Korea
36% tariff on Thailand
31% tariff on Switzerland
49% tariff on Cambodia
10% tariff on Brazil
20% tariff on European Union
34% tariff on China
46% tariff on Vietnam
26% tariff on India
24% tariff on Japan
10% tariff on United Kingdom
Full chart:
Mike Waltz’s team, while he was national security adviser, often used Signal to coordinate official business on topics like Ukraine, China, Gaza, the Middle East, Africa, and Europe, according to four sources. Two of those sources said they either participated in or had firsthand knowledge of at least 20 different Signal chats. All four confirmed that sensitive information was shared in some of those conversations.
A Wall Street Journal article reports that Boris Epshteyn, an attorney for former President Donald Trump, explored possibilities for Trump to pursue a third presidential term, despite the 22nd Amendment's two-term limit.
The Trump administration is in early talks with the Taliban, as the group tries to win favor with the White House, according to CNN.
OnlyFans founder and a crypto group have made a last-minute bid to buy TikTok, according to one of the bidders.
The Trump administration is considering a plan to prevent a TikTok ban by allowing ByteDance to lease its recommendation algorithm to a U.S.-based spinoff. This proposal aims to address national security concerns while maintaining the app's core technology under Chinese ownership.
Donald Trump has informed his inner circle that Elon Musk will soon step down from his role in the administration. While Trump remains pleased with Musk's contributions, the decision comes as Musk is increasingly seen as a political liability.
PIMCO's Chief Investment Officer, Daniel Ivascyn, has indicated that the United States may face a credit rating downgrade this year due to escalating debt levels and fiscal deficits.
Senator Adam Schiff has placed an indefinite hold on the nomination of Ed Martin, President Trump's pick for U.S. Attorney in Washington, D.C. Schiff cited Martin's actions during his interim tenure, including alleged threats against political opponents and dismissal of charges against former clients.
Christine Grady, head of bioethics at the NIH and wife of Dr. Fauci, was among several senior officials ousted by the Trump administration.
A federal judge has dismissed the corruption case against NYC Mayor Eric Adams at the Trump DOJ’s request, with prejudice, meaning the charges can't be refiled.
See you in the morning.
— Aaron
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