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Daily Mail
18 minutes ago
- Daily Mail
Trump FINALLY gets a question he respects as president grins from ear-to-ear after big week on Wall Street
Donald Trump gushed over a reporter's question about whether he 'outsmarted' the financial markets with his industry-shaking tariffs. The president grinned from ear-to-ear as a reporter asked him for his reaction to Apollo Global Management chief economist Torsten Sløk saying Trump may have 'outsmarted everyone' with his tariffs. 'Mr. President, a leading global economist just did a one-eighty and says your tariff plan, you may have outsmarted everybody with it. What is your message?' the reporter asked. Trump smiled as he responded: 'I love this. I love this question. This is the favorite. This is the best question I've ever been asked because I've been going through abuse for years on this. 'Because, as you know, we're taking in hundreds of billions of dollars, no inflation whatsoever.' The reporter added in a follow-up question for Trump's 'message to critics who think your tariff plan caused a recession?' 'I think they should go back to business school,' Trump responded. 'It's so obvious. It's so obvious. I mean, we're taking in billions and billions of dollars from China and a lot of other countries.' It came as Wall Street continued its recent rally this week, with the S&P500 and Nasdaq hitting all-time closing highs on Friday. In Sløk's report that Trump appeared to enjoy, the economist speculated that Trump would keep tariffs below his most aggressive rates to ease market uncertainty while using them as leverage to get better trade deals. 'Maybe the strategy is to maintain 30% tariffs on China and 10% tariffs on all other countries and then give all countries 12 months to lower nontariff barriers and open up their economies to trade,' he wrote. The report came as Trump's 90-day pause on 'reciprocal tariffs' is set to come to an end early next month. Sløk said that Trump should consider extending the deadline to a whole year, which he said would give the global markets time to adjust to a 'new world with permanently higher tariffs.' 'This would seem like a victory for the world and yet would produce $400 billion of annual revenue for US taxpayers,' he said. 'Trade partners will be happy with only 10% tariffs and U.S. tax revenue will go up. 'Maybe the administration has outsmarted all of us.' Trump shocked the global markets in April as he introduced a raft of 'Liberation Day' tariffs, but the gamble may have paid off as markets soared in recent weeks and the US signed a number of trade deals with foreign nations The soaring stock market numbers came as trade deal hopes fueled investor risk appetite and economic data helped solidify expectations for rate cuts from the U.S. Federal Reserve. The rise came even after Trump terminated trade negotiations with Canada in response to its digital tax on technology companies. 'This market's been pretty resilient,' said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana. 'Investors are riding momentum and looking for breakouts.' 'They don't want to get caught on the wrong side of this thing,' Carlson added. 'Many investors already have missed out. And now you have the S&P flirting with an all-time high.' While tariffs have yet to affect price growth, inflation continues to hover above the Fed's 2% annual inflation target. A separate report from the University of Michigan confirmed consumer sentiment has improved this month, but remains well below December's post-election bounce. Financial markets have priced in a 72% likelihood that the Fed will implement its first rate cut of the year in September, with a smaller, 21% probability of a rate cut coming as soon as July, according to CME's FedWatch tool. Washington and Beijing reached an agreement to expedite rare-earth shipments to the U.S., a White House official said, well ahead of the July 9 expiration of the 90-day postponement of U.S. President Donald Trump's "reciprocal" tariffs. Additionally, Treasury Secretary Scott Bessent said the Trump administration's trade deals with 18 of the main U.S. trading partners could be done by the September 1 Labor Day holiday.
The Guardian
26 minutes ago
- The Guardian
US sees spate of arrests of civilians impersonating Ice officers
Police in southern California arrested a man suspected of posing as a federal immigration officer this week, the latest in a series of such arrests, as masked, plainclothes immigration agents are deployed nationwide to meet the Trump administration's mass deportation targets. The man, Fernando Diaz, was arrested by Huntington Park police after officers said they found a loaded gun and official-looking documents with Department of Homeland Security headings in his SUV, according to NBC Los Angeles. Officers were impounding his vehicle for parking in a handicapped zone when Diaz asked to retrieve items inside, the police said. Among the items seen by officers in the car were 'multiple copies of passports not registered under the individual's name', NBC reports. Diaz was arrested for possession of the allegedly unregistered firearm and released on bail. The Huntington Park police chief and mayor accused Diaz of impersonating an immigration agent at a news conference, a move Diaz later told the NBC News affiliate he was surprised by. Diaz also denied to the outlet that he had posed as an officer with border patrol or Immigration and Customs Enforcement (Ice). At the news conference, police showed reporters paper they found inside his car with an official-looking US Customs and Border Protection header. The arrest is one of several cases involving people allegedly impersonating immigration officials, as the nationwide crackdown on undocumented immigrants intensifies. Experts have warned that federal agents' increased practice of masking while carrying out immigration raids and arrests makes it easier for imposters to pose as federal officers. Around the country, the sight of Ice officers emerging from unmarked cars in plainclothes to make arrests has become increasingly common. In March, for instance, a Tufts University student was seen on video being arrested by masked Ice officials outside her apartment, after her visa had been revoked for writing an opinion article in her university newspaper advocating for Palestinian rights. And many federal agents operating in the Los Angeles region in recent weeks have been masked. In late January, a week after Trump took office, a man in South Carolina was arrested and charged with kidnapping and impersonating an officer, after allegedly presenting himself as an Ice officer and detaining a group of Latino men. In February, two people impersonating Ice officers attempted to enter a Temple University residence hall. CNN reported that Philadelphia police later arrested one of them, a 22-year-old student, who was charged with impersonating an officer. In North Carolina the same week, another man, Carl Thomas Bennett, was arrested after allegedly impersonating an Ice officer and sexually assaulting a woman. Bennett reportedly threatened to deport the woman if she did not comply. In April, a man in Indiantown, Florida, was arrested for impersonating an Ice officer and targeting immigrants. Two men reported to the police that the man had performed a fake traffic stop, and then asked for their documents and immigration status. Mike German, a former FBI agent and fellow at the Brennan Center for Justice, told the Guardian last week that the shootings of two Democratic lawmakers in Minnesota, by a suspect who allegedly impersonated a police officer, highlights the danger of police not looking like police. 'Federal agents wearing masks and casual clothing significantly increases this risk of any citizen dressing up in a way that fools the public into believing they are law enforcement so they can engage in illegal activity. It is a public safety threat, and it's also a threat to the agents and officers themselves, because people will not immediately be able to distinguish between who is engaged in legitimate activity or illegitimate activity when violence is occurring in public,' he said.
Daily Mail
an hour ago
- Daily Mail
Eric Trump drops big time hint about possible successor to father's presidency in 2028
Donald Trump 's second son has fueled speculation that his family is seeking to establish a multi-generational political dynasty, saying he and other relatives may run for public office. Eric Trump told the Financial Times that a political career would be 'would be an easy one' for family members, as they look beyond President Trump's second term that ends in 2029. Eric, 41, is a fierce defender of his father on television networks, while older brother Don Jr. is a key player in the Trump inner circle, using his podcast and social media presence to fire up the president's base. 'The real question is: "Do you want to drag other members of your family into it?"' Eric Trump said in an interview. 'Would I want my kids to live the same experience over the last decade that I've lived? 'If the answer was yes, I think the political path would be an easy one, meaning, I think I could do it,' he said. 'And by the way, I think other members of our family could do it too.' Trump's children and his close family have long been involved in his business life, and have also taken major roles as he moved into politics and took the White House in 2017. In Trump's first term, his daughter Ivanka and husband Jared Kushner held senior administration posts, though they have retreated from the political frontlines for now. Donald Trump Jr., 47, has been at the forefront of his father's political operation for many years with conservative candidates coveting his endorsements. Eric's wife Lara Trump co-led the national Republican Party during the last election campaign receiving lavish praise from the candidate, and she now has her own show on Fox News. Barron Trump, the president's only child with wife Melania, is aged 19, but his father says he is interested in politics and helped him to draw in young male voters via podcasts and TikTok. Kai Trump, 18, daughter of Don Jr. and ex-wife Vanessa Trump, spoke at last year's Republican National Convention and is a competitive junior golfer. Eric Trump told the Financial Times he was 'wholly unimpressed by half the politicians I see' adding 'I could do it very effectively.' Asked if a Trump would stand for election in future, he replied 'I don´t know... Time will tell. But there's more people than just me.' Eric and Don Jr. run the Trump family business, which now includes a growing cryptocurrency portfolio. Eric Trump denied any conflicts of interest, saying 'if there's one family that hasn't profited off politics, it's the Trump family. Eric's wife Lara Trump co-led the national Republican Party during the last election campaign receiving lavish praise from the candidate, and she now has her own show on Fox News Trump family members including Kai, Don Jr, Jared Kushner, Ivanka Trump, Melania Trump, Eric and his wife Lara Trump, surround the family patriarch to close out last year's convention 'The opportunity cost, the legal cost, the toll it's taken on our family has been astronomical.' The Trumps are widely believed to have taken the monetizing of their powerful status to unprecedented levels for US first families. Amazon founder Jeff Bezos has agreed to finance a film about Melania Trump, reportedly netting her $28 million. Other close family are involved in multi-billion-dollar real estate deals abroad, and Don Jr. is launching a Washington club where membership reportedly costs more than half a million dollars. In May, President Trump hosted a dinner at one of his golf clubs for investors in his $TRUMP cryptocurrency, which he launched shortly before reentering the White House.
