REPUBLICAN STATES ECONOMY
Trump's 'One Big Beautiful Bill Act': How remittance tax plan might deliver a big economic blow to US allies?
Trump's 'One Big Beautiful Bill Act'': A new US bill proposes a 5% tax on money sent from the US to other countries. This targets non-citizens and foreign nationals. It could impact countries like El Salvador, Honduras, and Guatemala. Mexico opposes the tax, citing its impact on vulnerable workers. The bill may face legal and logistical challenges. It could also affect Indians living in the US.
'Dried out prune'? 'Corrupt' and 'incompetent'? It's getting nasty between Springsteen and Trump
Bruce Springsteen criticizes Donald Trump's administration during a concert in England. Trump retaliates, calling Springsteen names and suggesting an investigation into his and Beyonce's support for Kamala Harris. Springsteen defends his statements, referencing Trump's unsuitability for the presidency. This isn't the first time Springsteen has spoken out against Republican presidents. Trump often targets musicians who criticize him.
Moody's downgrade rating vs Donald Trump administration: US Stock market, Treasury yields are feeling the heat
Moody's cut the United States' sovereign credit rating to "Aa1" from "Aaa". The move had a negative impact on US stock market.
US Stock futures slide after Moody’s credit rating downgrade triggers market Jitters over $36 trillion debt, rising yields, and tech sell-off
US stock futures slide after Moody’s downgraded the country’s credit rating from “Aaa” to “Aa1,” raising alarm over America’s growing $36 trillion debt. This unexpected jolt hit Wall Street early Monday, sending Treasury yields higher and tech stocks like Tesla, Nvidia, and AMD sharply lower. The downgrade reflects rising concerns about the U.S. fiscal outlook and comes just as Trump’s stalled tax cut bill clears a key committee. With Fed officials speaking and big earnings ahead, investors are bracing for a volatile week. Read on to understand what this downgrade means and how it could shape markets ahead.
Trump tax bill passes key panel to advance in US Congress
Despite Republican infighting over spending cuts, a key congressional committee approved President Trump's tax-cut bill, advancing it to the House. Hardliners initially blocked the bill due to disputes over Medicaid cuts and green energy tax credits. Nonpartisan analysts estimate the bill would add trillions to the national debt, prompting Moody's to downgrade the U.S. credit rating.
Trump budget would cut ocean data and leave boaters, anglers and forecasters scrambling for info
President Trump's proposed budget cuts threaten the Integrated Ocean Observing System, jeopardizing real-time maritime data crucial for navigation, tsunami warnings, and hurricane predictions. Harbor pilots and scientists warn that eliminating federal funding for regional networks could severely impact safety and environmental monitoring. The system, vital for various sectors, faces an uncertain future, potentially disrupting established partnerships and data accessibility.
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Moody's downgrade intensifies investor worry about US fiscal path
Moody's has downgraded America's credit rating. This has increased investor concerns about rising debt. Republicans are trying to pass tax cuts and spending changes. This could increase the debt. Investors are worried about the final bill. The bond market is watching Washington closely. The downgrade may lead to higher borrowing costs.
What led to Moody's downgrading the U.S. credit rating to Aa1, first time in over a century? Here are the reasons the agency cited and why Americans should be worried
In a historic move, Moody's Ratings lowered the United States' credit rating. This marks the first time in over a century that the US lacks a top-tier rating from major agencies. The downgrade stems from concerns about rising national debt and fiscal management. Moody's joins Standard & Poor’s and Fitch Ratings in lowering the federal government’s credit rating.
For Trump, adulation and no risk of protests made the Gulf a dream trip
Donald Trump had a successful trip to Saudi Arabia, Qatar, and the United Arab Emirates. He received praise and investment pledges. Gulf leaders lauded Trump's policies. They highlighted deals with American companies. Trump announced over $2 trillion in economic investments. He held campaign-style rallies. Trump also downplayed concerns about his family's business dealings.
Moody’s downgrade sparks political blame game as US loses final triple A credit rating
Moody’s has stripped the US of its final triple A credit rating, citing rising debt and soaring interest payments. The downgrade has triggered political finger-pointing, while economists warn of increased borrowing costs and economic uncertainty. With GDP shrinking and spending plans stalling, America’s financial credibility faces mounting pressure
US consumer sentiment slides to 3-year low as trade war raises inflation anxiety
U.S. consumer sentiment unexpectedly declined in May, hitting its second-lowest level in nearly 75 years, as concerns about President Trump's trade war and rising inflation intensified. The University of Michigan's survey revealed a sharp divide in outlook based on political views and a surge in inflation expectations, potentially influencing the Federal Reserve's interest rate decisions.
Is it too late to save the US economy from a recession?
During Donald Trump's second term, top American companies faced significant losses. Apple's valuation dropped drastically, followed by similar declines for Alphabet, Meta, and Tesla. Despite donations and support, these firms lost substantial wealth. Trump's tariff policies disrupted trade, impacting importers and potentially causing shortages. Market indicators signaled economic trouble, with recession odds increasing.
Trump says US is close to deal to avoid Iran military nuclear action; oil prices plunge
US President Donald Trump said a deal on Iran's nuclear program is near and could prevent military action, leading to a drop in oil prices. Speaking during a Gulf tour, Trump credited Qatar's mediation and highlighted massive investment deals worth trillions. He also touched on regional conflicts, praised Gulf leaders, and made no mention of human rights issues during the trip.
Trump marvels at wealth of Arab hosts while he eyes White House, Air Force One upgrades
Donald Trump's trip to the Middle East revealed his admiration for the lavish lifestyles of Arab leaders. He praised the palaces and planes of his hosts. Trump expressed envy over his older Air Force One. He even considered accepting a donated plane from Qatar. Trump aims to bring similar grandeur to the White House.
Saudi crown prince welcomes Trump to kingdom as US leader begins 4-day Middle East tour
Donald Trump's Middle East trip commenced in Saudi Arabia, emphasizing economic agreements amidst concerns about Iran and Gaza. Crown Prince Mohammed bin Salman warmly welcomed Trump, solidifying a strong relationship with potential for significant Saudi investment in the US.
Trump in Saudi speech urges Iran toward a 'new and a better path' as he pushes for nuclear deal
Donald Trump visited Saudi Arabia and called for Iran to change its course. He wants a new nuclear agreement. Trump expressed a desire for peace and partnership. He hopes Saudi Arabia will recognize Israel. Trump met with Syrian President Ahmad al-Sharaa. Several economic and cooperation agreements were signed between the U.S. and Saudi Arabia.
US slashes 'de minimis' tariff on small China parcels to 54%
The United States is set to ease trade tensions with China by reducing the "de minimis" tariff on low-value goods, benefiting e-commerce giants like Shein and Temu. Effective May 14, 2025, the tariff will decrease to 54% from 120% for items under $800, with a $100 flat fee option.
Trump's tariff blitz yields deals but misses global trade fix
Donald Trump's tariff strategies have led to initial trade agreements, including a temporary truce with China and a limited pact with Britain. Experts remain skeptical about rebalancing global commerce, citing unresolved issues with China's economic model and tight deadlines for negotiations.
Elon Musk thought he could break history. Instead it broke him.
Elon Musk’s time working with the Trump administration has come to an end. Once seen as a bold and successful businessman, his actions upset many in government and hurt his public image. Tesla sales have dropped, and he's stepping back from politics to focus on his companies, especially as challenges grow.
Charting the global economy: Chinese exports to the US slumped
Global central banks are responding to economic uncertainty fueled by US trade policies. The Bank of England cautiously cut interest rates, while the Federal Reserve held steady amidst tariff concerns.
Massive tax deductions coming? Can Republicans convince Donald Trump administration?
Tax deduction has become a talking point after Donald President took over the Presidency in January.
Will Trump's proposal to cut tariffs on China to 80% signal a shift in trade policy?
Donald Trump is thinking about reducing tariffs on China. This is before important meetings between officials from the United States and China in Switzerland. These talks aim to reduce trade tensions. Trump mentioned a possible tariff decrease on social media. Top officials from both countries will discuss trade matters. This happens amid worries about the effect of tariffs on prices.
New US bill offers extended stay to Canadian snowbirds amid strained Canada-US relations
A bipartisan US bill aims to extend the stay limit for Canadian snowbirds from 182 to 240 days, amidst growing Canada-US tensions. As Donald Trump's tariff threats and statehood comments rattle relations, lawmakers hope the Canadian Snowbird Visa Act will boost local economies while easing cross-border anxieties
What to know about the newly opened immigration detention center in New Jersey's biggest city
The Trump administration's expansion of immigrant detention capacity includes a new 1,000-bed facility in Newark, New Jersey, operated by GEO Group. This move has sparked protests and legal challenges from Newark Mayor Ras Baraka, who cites building permit issues and questions the administration's immigration policies. The conflict highlights the divide between federal and local perspectives on immigration enforcement.
Can Mark Carney-Trump meeting repair frosty Canada-US relations after tariffs?
Mark Carney, the Canadian Prime Minister, is meeting Donald Trump at the White House. This meeting follows trade tensions and annexation threats. Carney aims to ease the strained relationship and pursue a trade deal. Trump believes Carney is seeking a deal. The meeting is crucial for the future of US-Canada relations. Both leaders will discuss tariffs and cooperation.
Alberta seriously considering secession from Canada as Premier Danielle Smith promises referendum next year if citizens gather enough signatures
Alberta separation referendum is back in the spotlight as Premier Danielle Smith announced a 2026 vote could happen—if enough Albertans demand it. During a livestream, Smith said a new bill would lower the signature threshold to trigger a provincial separation vote, responding to years of federal tensions. Though Smith says she doesn't personally support leaving Canada, she recognizes many are fed up with Liberal policies. With economic frustrations rising, equalization payments under fire, and major changes proposed, this story dives deep into what’s fueling Alberta’s growing push for sovereignty—and what could happen next.
Trump's shocking three-word reply when asked if he must uphold the Constitution sparks controversy
Trump said in remarks airing Sunday that he does not know whether he must uphold the US Constitution, the nation's founding legal document. In a wide-ranging NBC News interview, the 78-year-old Republican also said he was not seriously considering running for a constitutionally-barred third White House term, and blamed his presidential predecessor Joe Biden for the "bad parts" of the current economy.
US president Donald Trump announces 100% tariffs on all movies produced abroad to protect Hollywood
Donald Trump announced new tariffs on foreign films. He claims Hollywood is suffering due to US filmmakers working abroad. Trump authorized the Commerce Department to impose a 100% tariff on imported movies. This follows China's reduction of US film imports. Trump stated other countries offer incentives to lure filmmakers. He considers the situation a national security threat.
Senate rejects bill to undo Trump's tariffs as US economy shrinks
The U.S. Senate blocked a Democratic resolution to overturn President Donald Trump’s sweeping global tariffs, with Vice President JD Vance breaking a tie. The vote followed a fresh Commerce Department report showing a 0.3% economic contraction—the first in three years. Critics say Trump’s tariff moves are destabilising markets and hurting middle-class families. Some Republicans joined Democrats but stopped short of fully rejecting the policy. The resolution sought to end the national emergency Trump used to justify the tariffs.
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