President Donald Trump announced that the U.S. will impose 25% tariffs on goods from Japan and South Korea, and a 50% levy on Brazil, effective August 1st. As well as threatening a 35% tariff on some Canadian goods.
President Donald Trump revealed that the U.S. will impose 25% tariffs on goods from Japan and South Korea beginning August 1. This decision marks the beginning of a new wave of tariffs aimed at countries that have yet to secure trade deals with the Trump administration.
A rescission package refers to a proposal by the President to cancel or amend previously approved government spending, often targeting specific programs already set in place. In simple terms, it is the President’s way to propose budget cuts on a national level. The process involves the President submitting their rescission package to Congress, who, in turn, have 45 days to approve, reject, or change the proposed package.
On Thursday, June 12th, the House approved a rescissions package request from the White House to rescind funding for NPR, PBS, and international aid that lawmakers had previously. In a 214 to 212 vote, all but four House Republicans voted in favor of the measure, with all Democrats opposing.
In a dramatic turn of events, the once-strong alliance between President Donald Trump and tech mogul Elon Musk has unraveled, revealing deep fissures that could have significant ramifications for politics, technology, and the economy.
