Trump Administration Grapples with Trade Disputes, Funding Deadlines, and Key Appointments
Washington D.C. – President Donald Trump engaged in a flurry of activity Thursday, threatening tariffs, declaring a national emergency, and signaling an imminent announcement regarding the next Federal Reserve chair, according to multiple news sources.
Trump stated he would announce his nominee for Federal Reserve chair Friday morning, putting pressure on the Fed to cut interest rates, CBS News reported. "I've chosen a very good person to head the Fed," Trump told reporters late Thursday, describing his pick as an "outstanding person" who is "very respected" and "known to everybody in the financial world," according to CBS News. In recent weeks, Trump indicated that White House National Economic Council Director Kevin Hassett and former Fed board member Kevin Warsh were front-runners, telling Reuters earlier this month, "the two Kevins are very good."
In another development, Trump threatened Canada with a 50% tariff on any aircraft sold in the U.S., escalating his trade war with America's northern neighbor, CBS News reported. The president said he was retaliating against Canada for refusing to certify jets from Savannah, Georgia-based Gulfstream Aerospace. "If, for any reason, this situation is not immediately corrected, I am going to charge Canada a 50 Tariff on any and all Aircraft sold into the United States of America," Trump said in a post on Truth Social, according to CBS News. Trump also stated he was "hereby decertifying" the Bombardier Global Express.
The president also announced a plan to impose additional tariffs on countries that provide oil to Cuba, declaring a national security emergency regarding the island nation, ABC News reported. In an executive order, Trump said the "policies, practices, and actions of the Government of Cuba constitute an unusual and extraordinary threat," with regard to U.S. national security and foreign policy. The order includes retaliatory tariffs on products sold in the U.S. from "any other country that directly or indirectly sells or otherwise provides any oil to Cuba," according to ABC News. "I think Cuba will not be able to survive," Trump said, according to ABC News.
Meanwhile, government funding negotiations in the Senate hit a snag after Democrats announced a deal, ABC News reported. The Senate did not cast votes on a government funding deal on Thursday, sending the government closer to a partial shutdown with a little more than 24 hours until funding runs out. Senate Democrats announced earlier Thursday they had struck an agreement with the White House to move forward with a plan that would see the Department of Homeland Security funding bill separated from a package of five other bills, according to ABC News. Programs funded by the five-bill package would be funded until the end of September. DHS would be funded for two additional weeks.
Separately, Fox News highlighted the issue of stolen taxpayer dollars in "blue" states, suggesting that recovered funds could be used to help the neediest in the nation. Fox News reported that tens of billions of taxpayer dollars have been stolen by organized fraud rings in states like Minnesota, California, and New York.
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