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Tariffs have cost U.S. households $1,200 each since Trump returned to the White House, Democrats say

Tariffs have cost U.S. households $1,200 each since Trump returned to the White House, Democrats say

Sweeping taxes on imports have cost the average American household nearly $1,200 since Donald Trump returned to the White House this year, according to calculations by Democrats on Congress’ Joint Economic Committee
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Trump Administration and Maryland Leaders Address Escalating Costs of FSK Bridge Rebuild

Trump Administration and Maryland Leaders Address Escalating Costs of FSK Bridge Rebuild

The Trump administration and Maryland state officials are engaged in urgent discussions over the escalating costs of rebuilding the Francis Scott Key (FSK) Bridge in Baltimore. Initially estimated at $2 billion, the project's cost has surged to a projected $5.2 billion, with completion now expected in late 2030. The bridge, a critical transportation link, collapsed in March 2024 after being struck by a container ship, resulting in significant disruptions to regional infrastructure and commerce. U.S. Transportation Secretary Sean Duffy and Maryland Governor Wes Moore are focusing on project oversight, budget overruns, and controversial contracting practices. The Maryland Transportation Authority attributes the cost increase to rising prices of raw materials and labor, as well as necessary upgrades to meet modern safety standards.
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Commerce Secretary Lutnick Advocates for Economic-Focused Immigration Reform with 'Gold Card' Visa

Commerce Secretary Lutnick Advocates for Economic-Focused Immigration Reform with 'Gold Card' Visa

Commerce Secretary Howard Lutnick has emphasized the need for the U.S. to prioritize immigrants who can contribute to economic growth. Speaking on CNBC, Lutnick highlighted the introduction of the 'gold card' visa, a program designed to attract wealthy immigrants by offering a path to citizenship for a $1 million fee. This initiative is part of President Trump's broader immigration strategy, which includes a proposed $100,000 fee on H-1B visa applications. Lutnick argues that the U.S. should focus on attracting 'the best and the brightest' to help build the economy, rather than accepting 'below-average' immigrants. The 'gold card' visa, initially priced at $5 million, has been reduced to $1 million to increase accessibility and interest among affluent foreigners.
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President Trump's Gold Card Visa Program Launches, Offering Expedited Path to U.S. Citizenship

President Trump's Gold Card Visa Program Launches, Offering Expedited Path to U.S. Citizenship

President Trump has officially launched the Gold Card visa program, which aims to reshape the U.S. immigration system by offering expedited pathways to permanent residency and citizenship for high-value applicants. The program requires individuals to pay a $1 million fee, while companies sponsoring foreign employees must pay $2 million. The application process is facilitated through the Trumpcard.gov website, where applicants can submit Form I-140G and pay a $15,000 processing fee. The program targets individuals with extraordinary abilities or those who can contribute significantly to the national interest, aligning with existing EB-1 and EB-2 visa categories. Applicants must provide comprehensive personal, financial, and professional information, including evidence of lawful fund acquisition. The program does not create a new visa category but integrates into the current system, raising questions about its practical advantages.
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ICE threatens family separation, indefinite detention to satisfy Trump deportation goal

ICE threatens family separation, indefinite detention to satisfy Trump deportation goal

By Ted Hesson and Kristina Cooke WASHINGTON, Dec 11 (Reuters) - The email from a U.S. immigration officer presented Kelly and Yerson Vargas with a stark choice: accept deportation to their native Colombia or risk being charged with a crime and separated from their 6-year-old daughter, Maria Paola.
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Analysis-Trump fuel economy rollback may make cars cheaper, but higher gas bills will absorb savings

Analysis-Trump fuel economy rollback may make cars cheaper, but higher gas bills will absorb savings

By Valerie Volcovici WASHINGTON, Dec 8 (Reuters) - The Trump administration's proposal to roll back Biden-era vehicle fuel efficiency standards may save automakers in the U.S. tens of billions of dollars and potentially lower upfront purchase costs for American car buyers.
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US bank regulator says banks can act as crypto intermediaries

US bank regulator says banks can act as crypto intermediaries

By Pete Schroeder WASHINGTON, Dec 9 (Reuters) - Banks will be allowed to act as intermediaries on crypto transactions, a national U.S. bank regulator said on Tuesday, in the latest step by the Trump administration to narrow the gap between the traditional financial sector and crypto activities.
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Automakers Adjust Pricing Strategies Amid Tariff-Induced Cost Increases

Automakers Adjust Pricing Strategies Amid Tariff-Induced Cost Increases

Automakers Adjust Pricing Strategies Amid Tariff-Induced Cost Increases
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Tariffs Contribute to Rising Car Prices in the U.S.

Tariffs Contribute to Rising Car Prices in the U.S.

Tariffs Contribute to Rising Car Prices in the U.S.
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U.S. China hawks say Trump approved Nvidia chip sales to China will supercharge its military 

U.S. China hawks say Trump approved Nvidia chip sales to China will supercharge its military 

By Karen Freifeld and Alexandra Alper Dec 9 (Reuters) - China hardliners in Washington slammed the Trump administration for its decision to allow Nvidia to ship its second most advanced AI chip to China, citing fears Beijing could harness the technology to supercharge its military.  
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Trump Administration's Renewable Energy Policy Reversal Impacts U.S. Clean Energy Sector

Trump Administration's Renewable Energy Policy Reversal Impacts U.S. Clean Energy Sector

The Trump administration has reversed federal support for renewable energy projects, labeling them as risky and unreliable. This policy shift has led to the cancellation of over $426 million in federal grants for projects like the offshore wind turbines planned off the coast of Humboldt Bay, California. The administration's actions have halted progress on numerous renewable energy initiatives, including the termination of tax incentives for wind and solar industries. This move contrasts sharply with China's aggressive investment in renewable energy, where it now dominates the global market. China's strategic investments in solar and wind technologies have positioned it as a leader in the global fight against climate change, while the U.S. is stepping back from its previous commitments.
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Treasury Secretary Bessent Divests Soybean Farmland Amid Trump Administration's Farmer Aid Announcement

Treasury Secretary Bessent Divests Soybean Farmland Amid Trump Administration's Farmer Aid Announcement

Treasury Secretary Scott Bessent has divested his holdings in North Dakota soybean farmland as part of an ethics agreement. This move comes as the Trump administration prepares to announce a $12 billion aid package for American farmers affected by trade tensions with China. Bessent, who has been involved in trade negotiations with China, stated that he felt the impact of the trade war personally, having previously identified as a soybean farmer. The divestment was required under an ethics agreement due to his role in the administration. The aid package aims to support farmers who have been hit hard by China's increased tariffs on U.S. soybeans, a response to tariffs imposed by President Trump on Chinese goods.