India's Modi Says He Is Ready To 'pay A Big Price' In The Face Of U.s. Tariffs

Sen. John Cornyn says nan FBI granted his petition to thief find absent Texas Democrats

Major banal indexes opened higher this greeting contempt Trump's wide slate of tariffs snapping into effect aft midnight past night.

The wide S&P 500 and Dow Jones Industrial Average were some up astir 0.6%, while nan tech-focused Nasdaq accrued 0.8%.

Many investors are waiting to spot really large of a resistance tariffs will yet beryllium connected nan system — though signs are already opening to equine that it could beryllium important arsenic nan occupation marketplace has slowed and value pressures increase.

Trump demanded this greeting that nan CEO of tech patient Intel resign immediately, saying he is “highly conflicted.”

“There is nary different solution to this problem,” Trump wrote connected Truth Social. Intel shares fell much than 2% earlier markets opened.

Trump’s onslaught connected nan Intel main is his latest effort to unit nan semiconductor industry, which has fueled nan roar successful artificial intelligence. On Wednesday, he said he would deed machine chips made extracurricular nan United States pinch a 100% tariff.

The request besides comes after Sen. Tom Cotton wrote to Intel Chairman Frank Yeary to “express concerns astir nan information and integrity of Intel’s operations and its imaginable effect connected U.S. nationalist security.”

Read nan afloat communicative here.

Jay Ganglani and Chloe Yang

Indian Prime Minister Narendra Modi said he would not discuss nan interests of his country’s farmers moreover if it costs him, successful his first comments since Trump raised tariffs connected nan cardinal Asian information partner to 50%.

“I cognize that I mightiness person to salary a large value for this,” Modi, who has often touted his close narration pinch Trump, said coming successful New Delhi. “But I’m fresh for nan liking of India’s farmers, fishermen and livestock keepers. Today, India is ready.”

He did not straight mention nan U.S. tariff connected Indian goods, which Trump said yesterday he was doubling to 50%, among nan highest connected immoderate U.S. trading partner. Trump has said India is supporting Russia’s warfare connected Ukraine by buying Russian crude oil, which is trading nether a value headdress imposed by nan U.S. and different governments to limit Moscow’s power revenue.

India says nan higher U.S. tariffs are “unfair, unjustified and unreasonable,” and that until precocious nan U.S. had encouraged India to acquisition discounted Russian lipid to support world lipid prices from soaring.

Anger complete U.S. tariffs has been a unifying rumor successful India, wherever farmers are a powerful voting bloc. “Trump’s 50% tariff is economical blackmail — an effort to bully India into an unfair waste and acquisition deal,” Rahul Gandhi, leader of nan guidance Congress party, said successful a post connected X. “PM Modi amended not fto his weakness override nan interests of nan Indian people.”

Trump said successful a post on Truth Social that he has instructed nan Commerce Department to commencement moving connected a caller census study and to exclude undocumented immigrants.

The president said he wants nan study to usage "the results and accusation gained from nan Presidential Election of 2024."

"People who are successful our Country illegally WILL NOT BE COUNTED IN THE CENSUS," he added.

Trump undertook a akin effort during his first term, erstwhile he planned to time off undocumented immigrants retired of a last census count. In 2020, nan Supreme Court dismissed a challenge to nan plan, and soon after, Biden reversed Trump's directive aft taking office.

Treasury Secretary Scott Bessent said connected MSNBC that "what we're seeing is nan manufacturers overseas are absorbing some" tariff costs alternatively than passing them connected to consumers.

Pressed connected really agelong companies mightiness sorb those tariffs, Bessent said "part of our scheme is to person existent income maturation for working-class Americans."

Bessent added that a "manufacturing renaissance" owed to those tariffs will extremity inflation.

Inflation has ticked up since Trump's April 2 world tariff announcement, rising from 2.3% successful April to 2.6% successful June.

Treasury Secretary Scott Bessent said this greeting that Trump’s tariffs should consequence successful much U.S. manufacturing.

“We’re seeing these very ample commitments, some from governments and from corporate” partners, he told MSNBC's "Morning Joe."

Bessent highlighted Apple's investment commitment, announced yesterday at nan White House pinch CEO Tim Cook. But galore aspects of nan Apple committedness had been antecedently announced aliases were only mean increases from what nan institution presently does successful nan U.S.

“So we’ve sewage trillions of manufacturing that’s going to travel back, and we’re going to spot that complete nan adjacent mates of years,” Bessent added.

Trump, for his part, noted yesterday that he doesn’t cognize erstwhile nan manufacturing announcements will afloat materialize.

"I don't cognize erstwhile it shows up, but location are a batch of factories and a batch of plants that are either nether building aliases soon we'll beryllium starting construction. ... But I want to beryllium astir successful astir a twelvemonth from now and 2 years from now, because we're going to spot an explosion, I think," Trump said.

WASHINGTON — In June 2019, nan Supreme Court swept speech nan thought that national courts could rein successful authorities lawmakers’ powerfulness to tie legislative maps designed chiefly to entrench their ain party’s power.

The ruling, a 5-4 divided pinch blimpish justices successful nan majority, made it clear that partisan gerrymandering was present to stay. Writing for nan majority, Chief Justice John Roberts said simply that national courts had nary authority to intervene connected nan issue, moreover if it intends predetermination outcomes tin “seem unjust.”

With technological advances making it progressively easy to surgically tie districts to maximize partisan advantages, some Republican and Democratic states person continued nan practice.

That is now connected position successful Texas arsenic Republicans scheme to redraw legislature maps to further widen their power successful nan authorities and insulate against imaginable Democratic gains nationwide successful nan 2026 midterm elections, which will find power of nan House of Representatives for nan last 2 years of President Donald Trump’s term.

That has prompted Democrats successful California and different states to frighten countermeasures.

Read nan afloat communicative here.

Democrat Abigail Spanberger is launching her first awesome antagonistic TV advertisement of nan Virginia governor’s race, taking purpose astatine Republican Lt. Gov. Winsome Earle-Sears’ caller comments astir national authorities layoffs.

The 30-second spot, first shared pinch NBC News, features footage of a caller question and reply connected CNN in which Earle-Sears dodged a mobility astir whether she supported nan layoffs and said she wanted to talk astir “real issues.”

“Really? Not a existent rumor that thousands of Virginians are losing their jobs?” a narrator says successful nan ad, which is backed by a six-figure expenditure and will aerial successful nan Richmond and Norfolk media markets and connected integer platforms passim nan state, according to Spanberger’s campaign.

“It’s a existent rumor that Sears supports Trump, not Virginians. Winsome Earle-Sears: So acold right, she’s incorrect for Virginia,” nan narrator says.

Virginia, 1 of 2 states pinch a gubernatorial title this year, is location to much than 340,000 national workers, according to census data. The layoffs from nan early months of Trump’s 2nd word are expected to beryllium a apical issue in nan governor's race. Spanberger, a erstwhile congresswoman, is competing against Earle-Sears to switch Republican Gov. Glenn Youngkin, who cannot tally for re-election owed to word limits.

The Kremlin said this greeting that a gathering betwixt Trump and Putin has been agreed successful rule and will hap successful nan “coming days.”

Trump revealed yesterday that he was hopeful of a gathering pinch his Russian counterpart successful an effort to end the warfare successful Ukraine. It would beryllium his first in-person chat pinch Putin during his 2nd term.

Read nan afloat communicative here.

After months of delays and extensions, Trump’s broad and sweeping tariffs slate took effect conscionable aft midnight ET, shifting his world waste and acquisition reset into precocious gear.

Most imports into nan United States will now look a baseline 10% duty, with nan wide mean effective tariff complaint rising to much than 17% — nan highest since 1935, during nan Great Depression — acknowledgment to higher duties connected immoderate of nan biggest U.S. trading partners, according to nan nonpartisan Yale Budget Lab deliberation tank.

A wide assortment of products will beryllium hit. Tariffs will beryllium collected connected everything from European Union appliances and Japanese cars to food, furnishings and toys from China and TVs from South Korea. Selected lipid and state imports, on pinch immoderate smartphones and a suite of equipment covered by a pre-existing waste and acquisition statement pinch Canada and Mexico, are not affected.

Together, nan duties are nan astir important move yet by a president group connected tilting nan world system moreover much successful favour of nan United States.

Read nan afloat communicative here.