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Senator Welch and Representative Schneider Introduce BAD DEAL Act to Repeal Tariffs on Canadian Goods

Senator Welch and Representative Schneider Introduce BAD DEAL Act to Repeal Tariffs on Canadian Goods

U.S. Senator Peter Welch (D-Vt.) and Representative Brad Schneider (D-IL-10), a member of the House Ways and Means Trade Subcommittee, have partnered to introduce the Banning Antiquated Duties and Delivering Equitable American Levies (BAD DEAL) Act. This bicameral bill aims to repeal Section 338 of the Tariff Act of 1930 and refund all duties paid under this authority. The legislation directly targets the 50% tariffs that President Trump has implemented on Canada under Section 338. Senator Welch recently convened an event near the U.S.-Canada border in Jay, Vermont, bringing together small businesses, agricultural producers, and community leaders to voice their opposition to President Trump’s trade policies, which they argue are harming the economies of Vermont and other northern border states. Senator Welch emphasized that "Nobody wins a trade war" and that President Trump's policies are destructive to both American and Canadian interests. The event included various industry leaders, such as manufacturers...
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The Latest: ICE officer charged with lying about shooting of Venezuelan man, AP source says

The Latest: ICE officer charged with lying about shooting of Venezuelan man, AP source says

According to a person familiar with the matter who spoke on condition of anonymity, federal prosecutors have charged a U.S. Immigration and Customs Enforcement officer with lying to investigators about the events leading up to the nonfatal shooting of a Venezuelan man during the Minneapolis immigration crackdown earlier this year
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G20 finance chiefs except China back action on distorted trade

G20 finance chiefs except China back action on distorted trade

By Philip Blenkinsop and David Lawder ASHEVILLE, North Carolina, Sept 1 (Reuters) - The Trump administration won backing from all G20 financial leaders except China's on Tuesday to act against "non-market" policies and distortions that cause over-reliance on exports and hinder growth elsewhere.
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Democrats sink Republican bid to cap Supreme Court at nine justices

Democrats sink Republican bid to cap Supreme Court at nine justices

By Nate Raymond and Richard Cowan WASHINGTON, Sept 2 (Reuters) - Democrats in the U.S.
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Treasury Secretary Bessent Reports G20 Consensus on 'Cheap Exports' Except for China, Discusses AI and Trade with President Trump

Treasury Secretary Bessent Reports G20 Consensus on 'Cheap Exports' Except for China, Discusses AI and Trade with President Trump

Treasury Secretary Scott Bessent announced that 19 out of 20 G20 members agreed on the unsustainability of 'cheap exports' causing global economic imbalances, with China being the sole dissenter. Bessent made these remarks following a two-day meeting with finance ministers and central bankers, where he advocated for policies similar to the Trump administration's use of tariffs to address trade imbalances. He stated that non-market-based economies pushing out cheap exports are not sustainable and directly attributed China's large and unsustainable current account surplus as the reason for its dissent. Bessent also indicated that President Trump and Chinese President Xi Jinping would discuss artificial intelligence policy, emphasizing the need for more guardrails to prevent 'non-state actors' from developing their own AI models. He criticized AI companies for failing to adequately explain themselves to the American public, suggesting they must convince the public that benefits will not be limited to a small ...
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Trump aides seek 'quiet' in Iran war but say attacks may intensify after November elections

Trump aides seek 'quiet' in Iran war but say attacks may intensify after November elections

By Nandita Bose, Humeyra Pamuk and Gram Slattery WASHINGTON, Sept 2 (Reuters) - Top aides to President Donald Trump are pushing to keep the Iran war from escalating before November's midterm elections to staunch Republican electoral losses, four people familiar with the discussions said, a strategy
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House Unanimously Passes Bipartisan Bill Co-Led by Congressman Krishnamoorthi to Combat International Trade Crimes

House Unanimously Passes Bipartisan Bill Co-Led by Congressman Krishnamoorthi to Combat International Trade Crimes

House Unanimously Passes Bipartisan Bill Co-Led by Congressman Krishnamoorthi to Combat International Trade Crimes
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Bessent says 19 finance ministers agreed 'cheap exports' are unsustainable, but China dissented

Bessent says 19 finance ministers agreed 'cheap exports' are unsustainable, but China dissented

Treasury Secretary Scott Bessent says 19 of the members of the G20 agreed to address streams of “cheap exports” that cause global economic imbalances, but China dissented
USA Today USA Today
China is rooting for America's AI data center backlash | Opinion

China is rooting for America's AI data center backlash | Opinion

Bot farms, social media and a House committee letter reveal how Beijing is stoking Americans' AI fears to slow down a race it's losing on innovation.
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Warsh's Jackson Hole encore may put Trump's inflation record under a microscope

Warsh's Jackson Hole encore may put Trump's inflation record under a microscope

By Howard Schneider WASHINGTON, Sept 2 (Reuters) - After opening the door to higher interest rates last week, U.S.
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President Trump Criticizes Opposition to Data Center Construction, Citing Economic Benefits and Chinese Influence

President Trump Criticizes Opposition to Data Center Construction, Citing Economic Benefits and Chinese Influence

President Trump has publicly criticized communities and individuals opposing the construction of data centers, asserting that such opposition will lead to economic stagnation. He posted on Truth Social, stating that the only reason American communities would reject data centers is a desire to remain 'backward and poor,' and claimed that data centers would enrich Americans. This stance comes amidst a rapid increase in the demand for data centers due to AI development and related services, which has also generated significant local opposition. President Trump further suggested that China is pleased with the anti-data center movement in the U.S., aiming to leverage anti-China sentiment among Americans. He has previously supported data center construction by signing executive orders to expedite necessary procedures, but some states are now moving to halt such developments.
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Congress Passes Short-Term Funding Bill, Delaying Pentagon's $1.5 Trillion Budget Request

Congress Passes Short-Term Funding Bill, Delaying Pentagon's $1.5 Trillion Budget Request

Congress passed a continuing resolution (CR) on September 1, extending current spending levels through December 11. This action puts on hold the Pentagon's request for $1.5 trillion in spending authority for fiscal year 2027. The House of Representatives agreed to the Senate's timeline with a 370-48 vote, and President Trump is expected to sign the bill into law. Under a CR, federal government funding remains at the previous fiscal year's levels, which means the Department of Defense (DoD) will operate with an $838.5 billion budget, significantly less than its requested $1.5 trillion. This marks the 38th time in 50 years that the DoD will begin a fiscal year with a temporary spending measure. The Pentagon's budget request was divided into two parts: $1.15 trillion through the usual appropriations process and $350 billion through the reconciliation process, neither of which has seen meaningful movement in Congress.