By JOSH BOAK WASHINGTON (AP) — Donald Trump loved to use tariffs on foreign goods during his first presidency. But their impact was barely noticeable in the overall economy, even if their aftershocks were clear in specific industries. The data show they never fully delivered on his promised factory jobs. Nor did they provoke the avalanche of inflation that critics feared. This time, though, his tariff threats might be different . The president-elect is talking about going much bigger — on a potential scale that creates more uncertainty about whether he’ll do what he says and what the consequences could be. “There’s going to be a lot more tariffs, I mean, he’s pretty clear,” said Michael Stumo, the CEO of Coalition for a Prosperous America, a group that has supported import taxes to help domestic manufacturing. The president-elect posted on social media Monday that on his first day in office he would impose 25% tariffs on all goods imported from Mexico and Canada until those countries satisfactorily stop illegal immigration and the flow of illegal drugs such as fentanyl into the United States. Those tariffs could essentially blow up the North American trade pact that Trump’s team negotiated during his initial term. Chinese imports would face additional tariffs of 10% until Beijing cracks down on the production of materials used in making fentanyl, Trump posted. Democrats and business groups warn of risks from Trump’s tariff threats Business groups were quick to warn about rapidly escalating inflation , while Mexican President Claudia Sheinbaum said she would counter the move with tariffs on U.S. products. House Democrats put together legislation to strip a president’s ability to unilaterally apply tariffs this drastic, warning that they would likely lead to higher prices for autos, shoes, housing and groceries. Sheinbaum said Wednesday that her administration is already working up a list of possible retaliatory tariffs “if the situation comes to that.” “The economy department is preparing it,” Sheinbaum said. “If there are tariffs, Mexico would increase tariffs, it is a technical task about what would also benefit Mexico,” she said, suggesting her country would impose targeted import duties on U.S. goods in sensitive areas. House Democrats on Tuesday introduced a bill that would require congressional approval for a president to impose tariffs due to claims of a national emergency, a largely symbolic action given Republicans’ coming control of both the House and Senate. “This legislation would enable Congress to limit this sweeping emergency authority and put in place the necessary Congressional oversight before any president – Democrat or Republican – could indiscriminately raise costs on the American people through tariffs,” said Rep. Suzan DelBene, D-Wash. But for Trump, tariffs are now a tested tool that seems less politically controversial even if the mandate he received in November’s election largely involved restraining inflation. The tariffs he imposed on China in his first term were continued by President Joe Biden, a Democrat who even expanded tariffs and restrictions on the world’s second largest economy. Biden administration officials looked at removing Trump’s tariffs in order to bring down inflationary pressures, only to find they were unlikely to help significantly. Tariffs were “so new and unique that it freaked everybody out in 2017,” said Stumo, but they were ultimately somewhat modest. Trump’s first term tariffs had a modest impact on economy Trump imposed tariffs on solar panels and washing machines at the start of 2018, moves that might have pushed up prices in those sectors even though they also overlapped with plans to open washing machine plants in Tennessee and South Carolina. His administration also levied tariffs on steel and aluminum, including against allies. He then increased tariffs on China, leading to a trade conflict and a limited 2020 agreement that failed to produce the promised Chinese purchases of U.S. goods. Still, the dispute changed relations with China as more U.S. companies looked for alternative suppliers in other countries. Economic research also found the United States may have sacrificed some of its “soft power” as the Chinese population began to watch fewer American movies. The Federal Reserve kept inflation roughly on target, but factory construction spending never jumped in a way that suggested a lasting gain in manufacturing jobs. Separate economic research found the tariff war with China did nothing economically for the communities hurt by offshoring, but it did help Trump and Republicans in those communities politically. When Trump first became president in 2017, the federal government collected $34.6 billion in customs, duties and fees. That sum more than doubled under Trump to $70.8 billion in 2019, according to Office of Management and Budget records. While that sum might seem meaningful, it was relatively small compared to the overall economy. America’s gross domestic product is now $29.3 trillion, according to the Bureau of Economic Analysis. The total tariffs collected in the United States would equal less than 0.3% of GDP. Trump wants much more far-reaching tariffs going forward The new tariffs being floated by Trump now are dramatically larger and there could be far more significant impacts. If Mexico, Canada, and China faced the additional tariffs proposed by Trump on all goods imported to the United States, that could be roughly equal to $266 billion in tax collections, a number that does not assume any disruptions in trade or retaliatory moves by other countries. The cost of those taxes would likely be borne by U.S. families, importers and domestic and foreign companies in the form of higher prices or lower profits. Former Biden administration officials said they worried that companies could piggyback on Trump’s tariffs — if they’re imposed — as a rationale to raise their prices, just as many companies after Russia’s invasion of Ukraine in 2022 boosted food and energy costs and gave several major companies the space to raise prices, according to their own earnings calls with investors. But what Trump didn’t really spell out is what might cause him to back down on tariffs and declare a victory. What he is creating instead with his tariff threats is a sense of uncertainty as companies and countries await the details to figure out what all of this could mean. “We know the key economic policy priorities of the incoming Trump administration, but we don’t know how or when they will be addressed,” said Greg Daco, chief U.S. economist at EY-Parthenon. AP writer Mark Stevenson contributed to this report from Mexico City.
The mom of three said on the 'Today' show on Nov. 27 that it "made my whole Thanksgiving" when her co-anchor gave her a sign on the air during last year's parade Nathan Congleton/NBC/NBCU Photo Bank via Getty Between the floats, the performances, the celebrity appearances and, of course, Santa, there will be plenty to watch for during the — but and will give show viewers a little something extra to watch for on Thursday, Nov. 28. On the Nov. 27 episode of , Bush Hager, 43, and Kotb, 60, recalled how they came up with a secret sign for Kotb to perform on the air during last year’s parade, which she co-anchored with . “Last year, Hoda and I came up with this secret symbol, which was Hoda brushing her teeth with a finger, remember?” Bush Hager said. Related: Kotb did remember. “That was the indicator that I was thinking about Jenna,” she said. According to Kotb, Guthrie, 52, “had no clue” about the gesture’s meaning. “Just so you’re clear, nobody knew that except all of you and Hoda and me,” Bush Hager continued. “So even Savannah, she said later to me, ‘Why’d she do that?’ ‘Cause she was like, ‘Doesn’t she know she’s on TV?’ So I’m just asking since this is our last Thanksgiving together, would you do another symbol for me?” Nathan Congleton/NBCU Photo Bank/NBCUniversal via Getty Kotb, who will be in January, complied. “I’ve been thinking a lot about the symbol,” Kotb said. “I’ve been thinking like, what could it possibly be? And there’s only one thing It could be. So, I don’t know if you guys remember, but there’s a song called ‘RockaFellaCenta’ that does with , and there’s a part of it where he says, ‘I’m waiting outside and I’m looking for Jenna Bush Hager, Jenna Bush Hager.’ Whenever I see Jenna, I go like this.” The mother of two proceeded to put up two fists and shake them towards herself like Yang, 34, does in the video. “It’s sort of our call sign,” Bush Hager explained. Kotb decided that that should be her secret gesture for Bush Hager this year and had her co-anchor act out a scenario in which she did it while commentating on the parade “Watch for it!” Kotb said. Alliance for Women in Media Foundation/Getty Images Bush Hager also asked viewers to keep it a secret from Guthrie. “Don’t tell Savannah, you guys!” she implored. The author admitted that last year, she actually missed Kotb doing their secret teeth brushing move live during the parade because her Christmas tree had fallen down. Luckily, viewers let her know about it on social media. Related: “Last year you really did a solid for me because last Thanksgiving, we decided to put up our Christmas tree on Thanksgiving Day because we read that there was a sale at Whole Foods,” Bush Hager said. “And so raced down and unfortunately, our tree fell over at the beginning of the parade with all the stuff on it, over, over. Henry was trying to put the star on it, collapsed. I may have never told you. But so I had paused it and because I was looking for this moment and somebody texted me and tons of Xers or tweeters or whatever, Insta, ‘Hey Jenna, go, go! She did it!’ So then we got to watch.” Bush Hager said that catching that moment “made my whole Thanksgiving.” The Macy’s Thanksgiving Day Parade will air Thursday, Nov. 28, on NBC and Peacock, starting at 8:30 a.m. ET.
Resounding Victory: Senegal's Ruling Party Dominates Legislative ElectionsNoneNone
and appealed to the Australian Government on Tuesday through written submissions to delay a bill imposing a social media ban for children under 16 years old. In their submissions, both Google and Meta contended the bill should be delayed until the Government’s Age Assurance Trial results are obtained. The would “include methods that verify a user’s identity credentials to accurately determine their age” using “biometric markers or digital usage patterns.” Meta’s outlined several key points, including asserting the bill will “needlessly burden parents and young people” and “disempower Australian parents,” expressing doubts regarding the government’s proposition to place the burden on social media companies. Further, the submission considers the “omission of YouTube and online gaming fatal to the Bill’s purpose.” However, the government has to exclude messaging apps, gaming services, and health and education-related such as Google Classroom and YouTube. Meta’s submission additionally voices reservations about the new definition of ‘age-restricted social media platform,’ the “unclear technical requirements with significant penalties.” It raises concerns of “overlap and duplication” with the Privacy Act. Google’s proposed the bill “adopt a more targeted approach to covered services,” noting “digital platform regulation is complex and requires careful regulation,” expressing concerns that the speed of the bill’s development has “not allowed for adequate contemplation of the complexities,” and the “rushed approach” has “failed to allow adequate consultation with experts, industry, parents and caregivers and young people themselves,” suggesting it “does not reflect good regulatory practice.” Australia’s Labor government the on November 21, 2024, which sought to implement a minimum age of 16 for social media. The proposed bill, which received bipartisan support, in the House of Representatives with 102 votes to 13 and will proceed to the Senate for debate. The bill was referred to the Environment and Communications Legislation Committee, with submissions of opinions closing after one day. An amendment to the , the bill would place responsibility on social media companies, rather than parents or children, to ensure reasonable steps are taken to prevent children under 16 from the platforms. The broadened definition of ‘age-restricted social media platform’ noted in would include Facebook and Instagram owned by Meta Platforms, TikTok, Snapchat, Reddit, and X (formerly Twitter). Significant penalties could be imposed upon digital platforms for systemic breaches, such as failing to adhere to the minimum age obligation and incurring fines of up to AUD $49.5 million. Australian Prime Minister Anthony Albanese the legislation as a “landmark reform,” acknowledging, “We know some kids will find workarounds, but we’re sending a message to social media companies to clean up their act.” Several organizations and individuals have expressed uncertainty and opposition to the bill, including , , , , and . Despite reservations about the bill expressed in submissions, a found an increase in Australian citizens’ support for the bill, with 77 percent backing the proposed ban. Pope Urban II sparks First Crusade Pope Urban II threw his support behind what would become the First Crusade on November 27, 1095 during the Council of Clairmont. The Pope urged the council's participants to render aid to the Byzantine Empire, which was being attacked by the Seljuks. Pope Urban called for a wide coalition of rich and poor to combat the threat, which eventually resulted in the conquest of much of the Muslim-controlled Levant by the Crusaders and the establishment of the Crusader States. Pope Urban's address. Catholic Code of Canon Law revised On November 27, 1983, the revised of the Roman Catholic Church went into effect.Learn more about the history of Canon Law from of the Catholic University of America's Columbus School of Law. Alfred Nobel creates Nobel Prize in his will On November 27, 1895, Alfred Nobel signed his will, creating the . about the history of the Nobel Prize and the Nobel Commission.
By JOSH BOAK WASHINGTON (AP) — Donald Trump loved to use tariffs on foreign goods during his first presidency. But their impact was barely noticeable in the overall economy, even if their aftershocks were clear in specific industries. The data show they never fully delivered on his promised factory jobs. Nor did they provoke the avalanche of inflation that critics feared. This time, though, his tariff threats might be different . The president-elect is talking about going much bigger — on a potential scale that creates more uncertainty about whether he’ll do what he says and what the consequences could be. “There’s going to be a lot more tariffs, I mean, he’s pretty clear,” said Michael Stumo, the CEO of Coalition for a Prosperous America, a group that has supported import taxes to help domestic manufacturing. The president-elect posted on social media Monday that on his first day in office he would impose 25% tariffs on all goods imported from Mexico and Canada until those countries satisfactorily stop illegal immigration and the flow of illegal drugs such as fentanyl into the United States. Those tariffs could essentially blow up the North American trade pact that Trump’s team negotiated during his initial term. Chinese imports would face additional tariffs of 10% until Beijing cracks down on the production of materials used in making fentanyl, Trump posted. Business groups were quick to warn about rapidly escalating inflation , while Mexican President Claudia Sheinbaum said she would counter the move with tariffs on U.S. products. House Democrats put together legislation to strip a president’s ability to unilaterally apply tariffs this drastic, warning that they would likely lead to higher prices for autos, shoes, housing and groceries. Sheinbaum said Wednesday that her administration is already working up a list of possible retaliatory tariffs “if the situation comes to that.” “The economy department is preparing it,” Sheinbaum said. “If there are tariffs, Mexico would increase tariffs, it is a technical task about what would also benefit Mexico,” she said, suggesting her country would impose targeted import duties on U.S. goods in sensitive areas. House Democrats on Tuesday introduced a bill that would require congressional approval for a president to impose tariffs due to claims of a national emergency, a largely symbolic action given Republicans’ coming control of both the House and Senate. “This legislation would enable Congress to limit this sweeping emergency authority and put in place the necessary Congressional oversight before any president – Democrat or Republican – could indiscriminately raise costs on the American people through tariffs,” said Rep. Suzan DelBene, D-Wash. But for Trump, tariffs are now a tested tool that seems less politically controversial even if the mandate he received in November’s election largely involved restraining inflation. The tariffs he imposed on China in his first term were continued by President Joe Biden, a Democrat who even expanded tariffs and restrictions on the world’s second largest economy. Biden administration officials looked at removing Trump’s tariffs in order to bring down inflationary pressures, only to find they were unlikely to help significantly. Tariffs were “so new and unique that it freaked everybody out in 2017,” said Stumo, but they were ultimately somewhat modest. Trump imposed tariffs on solar panels and washing machines at the start of 2018, moves that might have pushed up prices in those sectors even though they also overlapped with plans to open washing machine plants in Tennessee and South Carolina. His administration also levied tariffs on steel and aluminum, including against allies. He then increased tariffs on China, leading to a trade conflict and a limited 2020 agreement that failed to produce the promised Chinese purchases of U.S. goods. Still, the dispute changed relations with China as more U.S. companies looked for alternative suppliers in other countries. Economic research also found the United States may have sacrificed some of its “soft power” as the Chinese population began to watch fewer American movies. The Federal Reserve kept inflation roughly on target, but factory construction spending never jumped in a way that suggested a lasting gain in manufacturing jobs. Separate economic research found the tariff war with China did nothing economically for the communities hurt by offshoring, but it did help Trump and Republicans in those communities politically. When Trump first became president in 2017, the federal government collected $34.6 billion in customs, duties and fees. That sum more than doubled under Trump to $70.8 billion in 2019, according to Office of Management and Budget records. While that sum might seem meaningful, it was relatively small compared to the overall economy. America’s gross domestic product is now $29.3 trillion, according to the Bureau of Economic Analysis. The total tariffs collected in the United States would equal less than 0.3% of GDP. The new tariffs being floated by Trump now are dramatically larger and there could be far more significant impacts. If Mexico, Canada, and China faced the additional tariffs proposed by Trump on all goods imported to the United States, that could be roughly equal to $266 billion in tax collections, a number that does not assume any disruptions in trade or retaliatory moves by other countries. The cost of those taxes would likely be borne by U.S. families, importers and domestic and foreign companies in the form of higher prices or lower profits. Former Biden administration officials said they worried that companies could piggyback on Trump’s tariffs — if they’re imposed — as a rationale to raise their prices, just as many companies after Russia’s invasion of Ukraine in 2022 boosted food and energy costs and gave several major companies the space to raise prices, according to their own earnings calls with investors. But what Trump didn’t really spell out is what might cause him to back down on tariffs and declare a victory. What he is creating instead with his tariff threats is a sense of uncertainty as companies and countries await the details to figure out what all of this could mean. “We know the key economic policy priorities of the incoming Trump administration, but we don’t know how or when they will be addressed,” said Greg Daco, chief U.S. economist at EY-Parthenon. AP writer Mark Stevenson contributed to this report from Mexico City.No. 10 Georgia scores nearly at will, destroys UMass
Trump’s tariffs in his first term did little to alter the economy, but this time could be differentMicrosoft Corp. stock underperforms Monday when compared to competitors despite daily gainsWASHINGTON (AP) — U.S. prosecutors are accusing two senior Syrian officials of overseeing a notorious torture center that abused peaceful protesters , including a 26-year-old American woman who was later believed to have been executed. The indictment was released Monday, two days after a shock rebel offensive overthrew Syrian President Bashar Assad . The U.S., U.N. and others accuse him of widespread human rights abuses in a 13-year battle to crush opposition forces seeking his removal from power. Javascript is required for you to be able to read premium content. Please enable it in your browser settings. Get updates and player profiles ahead of Friday's high school games, plus a recap Saturday with stories, photos, video Frequency: Seasonal Twice a weekBreaking the cloud backup ‘black box’ with intelligent data mapping and retrieval
You have no money, why refuse PM-JAY aid: HC to Delhi govt.First Horizon Names New Head of Investor Relations
Hottest toys of 2024There were football players with more yards and touchdowns this fall. But no one was as dominant on a big stage in the 2024 football season as Lake Oswego’s LaMarcus Bell. The 5-foot-11, three-star junior running back was an anchor for a Lake Oswego team that finished the 2024 season with an 11-1 record and a trip to the state championship game as Class 6A’s No. 1 seed.
Semtech: Fiscal Q3 Earnings SnapshotTwins sign Alex Speas to a minor league contract
KC_Gray 35 pass from Mahomes (Shrader kick), 13:35. Car_FG Pineiro 30, 9:24. KC_FG Shrader 25, 2:39. Car_FG Pineiro 32, 14:42. KC_FG Shrader 41, 7:24. KC_Gray 11 pass from Mahomes (Shrader kick), :44. Car_FG Pineiro 29, :00. Car_D.Moore 1 pass from Young (Pineiro kick), 6:26. KC_Hopkins 3 pass from Mahomes (Shrader kick), 2:42. Car_FG Pineiro 33, 12:37. Car_Hubbard 1 run (Hubbard run), 1:46. KC_FG Shrader 31, :00. A_73,216. RUSHING_Kansas City, Hunt 16-68, Mahomes 5-60, Hardman 2-15, Perine 1-13, Worthy 1-5, Steele 1-4. Carolina, Hubbard 16-58, Young 3-20, Brooks 2-7. PASSING_Kansas City, Mahomes 27-37-0-269. Carolina, Young 21-35-0-263. RECEIVING_Kansas City, Kelce 6-62, Hopkins 5-35, Gray 4-66, Worthy 4-46, Hunt 3-19, Perine 2-11, Ju.Watson 1-15, Steele 1-9, Smith-Schuster 1-6. Carolina, Moore 6-81, Legette 4-56, Thielen 3-57, J.Sanders 3-49, Thompkins 3-13, Tremble 1-5, Hubbard 1-2. MISSED FIELD GOALS_None.
Over the past decade or so, there has been massive innovation when it comes to gaming technology, as well as the types of wagers that are most attractive to gamblers. On the slot machine side of casinos, reel-based slot machines and “low-volatility” games that have lots of smaller payouts have largely been replaced by ever-advancing digital games that focus on big payouts. Javascript is required for you to be able to read premium content. Thanks for the feedback.
Judge rejects request to sideline SJSU volleyball playerTennessee 32, Houston 27
‘It's a bird! It's a plane!' In Alaska, it's both, with a pilot tossing turkeys to rural homes