Former President Donald Trump recently stoked speculation about a potential third term, telling NBC News he was "not joking" despite constitutional prohibitions. This commentary, while lacking any backing in reality, appears intended to shift focus from other political controversies and suppress emerging competitors within his party. Analysts interpret his approach as a tactic to keep opponents unsettled.
Concurrently, global markets faced a downturn as investors braced for new tariffs from the Trump administration, targeting the U.S.’s major trade partners. These "reciprocal tariffs," as Trump describes them, are poised to match existing international import taxes, with Trump proclaiming the day of their announcement as "Liberation Day."
While a White House trade advisor projected that tariffs could garner $6 trillion over the next decade, experts caution that such revenue strategies may conflict with Trump's intent to resurrect American manufacturing. Domestically, higher tariffs are expected to inflate consumer prices on essential goods like cars and electronics, leading to skepticism over whether the administration can successfully persuade Americans to accept these increased costs.
In other news regarding the Trump administration, U.S. expenditures have reached $40 million to detain around 400 migrants at Guantánamo Bay, while scrutiny grows over $9 billion in funding granted to Harvard due to claims of unchecked antisemitism. Various business sectors reliant on immigrant labor are advocating for legislation to ensure continued workforce availability, even as economists express concern regarding the impacts of Trump's budget cuts on scientific research in the U.S. As federal employees return to depleted office environments, the angsty atmosphere in Washington highlights ongoing challenges.
