Trump floated having a third term. Elie Honig breaks down how that could happen
President Donald Trump did not dismiss the idea of pursuing a third term in the White House, despite the 22nd Amendment of the Constitution prohibiting it, claiming that 'there are methods' to achieving this and emphasizing that he was 'not joking' in a phone interview with NBC News. CNN's Elie Honig breaks down what "loop holes" Trump's team thinks could make this possible.
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Yahoo
23 minutes ago
- Yahoo
Canada retaliates against U.S. steel imports after Trump terminates trade talks
President Donald Trump said Friday that he had terminated trade discussions with Canada, citing an incoming Canadian tax on tech companies including those based in the U.S. In a post on Truth Social, Trump referred to Canada as "a very difficult country to trade with" and said that its levy on tech firms — the first payment for which is due Monday — "is a direct and blatant attack on our Country." "Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately," he said. "We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven day period." Last week Canada's finance minister said that he would not delay implementation of the digital services tax — which applies to any tech company making more than $15 million from Canadian internet users — even as U.S. trade talks continue. A lobbying group for some tech giants said the tax, which is retroactive to 2022, would cost U.S. companies as much as $3 billion. Those payments are due beginning June 30. The office of Canadian Prime Minister Mark Carney didn't immediately respond to a request for comment. But late Friday, Canada retaliated against the U.S. by imposing a quota on some steel imports and a 50% surcharge for imports that exceed the quota. Canada's finance minister said the government was acting to protect its industry from "unjust U.S. tariffs." Canada's government said it "remains prepared to take additional steps as needed." Trump's post cuts short what had been a relatively calm period of trade-related announcements — a stretch that had helped markets recover to the all-time highs seen in February. Shortly after Trump's post went live, the S&P 500 and Nasdaq indexes briefly turned negative but rallied later in the afternoon to close at all-time highs. Friday had begun with encouraging comments from Treasury Secretary Scott Bessent, who indicated the president was open to moving the previously announced deadline for trade deals from July 9 to Labor Day — and that country-by-country duties themselves were negotiable. A few hours later, Trump said that initial July 9 deadline was not set in stone, saying the U.S. could either extend or shorten it. Canada is the second-largest U.S. trading partner. Currently, the U.S. has a tariff rate of 25% applied to Canadian imports that don't comply with the U.S.-Mexico-Canada Agreement, the trade deal Trump inked during his first term before he upended it with a flurry of tariff announcements in his second. The 25% tariff on non-compliant Canadian goods excludes energy products, which are subject to a 10% rate. Canada is also heavily impacted by Trump's 50% tax on steel and aluminum imports — the country is the largest foreign supplier of those materials to the U.S. And it has also been impacted by the 25% duties Trump has imposed on foreign-made vehicles and auto parts. This article was originally published on
Yahoo
an hour ago
- Yahoo
Trump says he is terminating trade talks with Canada over tax on tech firms
US President Donald Trump said he is suspending trade talks with Canada over its plans to continue with its tax on technology firms, which he called 'a direct and blatant attack on our country'. Mr Trump, in a post on his social media network, said Canada had just informed the US that it was sticking to its plan to impose the digital services tax, which applies to Canadian and foreign businesses that engage with online users in Canada. The tax is set to go into effect on Monday. 'Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately. We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven day period,' Mr Trump said in his Truth Social post. Mr Trump's announcement was the latest move in the trade war he has launched since taking office for a second term in January. Progress with Canada has been a roller coaster, starting with the US president repeatedly suggesting it would be absorbed as a US state. Canadian Prime Minister Mark Carney said on Friday that his country would 'continue to conduct these complex negotiations in the best interests of Canadians. It's a negotiation'. Mr Trump later said he expects that Canada will remove the tax. 'Economically we have such power over Canada. We'd rather not use it,' Mr Trump said in the Oval Office. 'It's not going to work out well for Canada. They were foolish to do it.' When asked if Canada could do anything to restart talks, he suggested Canada could remove the tax, predicted it will but said: 'It doesn't matter to me.' Mr Carney visited Mr Trump in May at the White House. Mr Trump last week travelled to Canada for the G7 summit in Alberta, where Mr Carney said Canada and the US had set a 30-day deadline for trade talks. The digital services tax will hit companies including Amazon, Google, Meta, Uber and Airbnb with a 3% levy on revenue from Canadian users. It will apply retroactively, leaving US companies with a two billion US dollar (£1.4 billion) bill due at the end of the month. 'We appreciate the Administration's decisive response to Canada's discriminatory tax on US digital exports,' Matt Schruers, chief executive of the Computer & Communications Industry Association, said in a statement. Canada and the US have been discussing easing a series of steep tariffs Mr Trump imposed on goods from America's neighbour. The Republican president earlier told reporters that the US was soon preparing to send letters to different countries, informing them of the new tariff rate his administration would impose on them. Mr Trump has imposed 50% tariffs on steel and aluminium as well as 25% tariffs on cars. He is also charging a 10% tax on imports from most countries, though he could raise rates on July 9, after the 90-day negotiating period he set would expire. Canada and Mexico face separate tariffs of as much as 25% that Mr Trump put into place under the auspices of stopping fentanyl smuggling, though some products are still protected under the 2020 US-Mexico-Canada Agreement signed during Mr Trump's first term. Addressing reporters after a private meeting with Republican senators on Friday, Treasury Secretary Scott Bessent declined to comment on news that Mr Trump had ended trade talks with Canada. 'I was in the meeting,' Mr Bessent said before moving on to the next question. About 60% of US crude oil imports are from Canada, and 85% of US electricity imports as well. Canada is also the largest foreign supplier of steel, aluminium and uranium to the US and has 34 critical minerals and metals that the Pentagon is eager to obtain. About 80% of Canada's exports go to the US. Daniel Beland, a political science professor at McGill University in Montreal, said it is a domestic tax issue, but it has been a source of tensions between Canada and the US for a while because it targets US tech giants. 'The Digital Services Tax Act was signed into law a year ago so the advent of this new tax has been known for a long time,' Mr Beland said. 'Yet, President Trump waited just before its implementation to create drama over it in the context of ongoing and highly uncertain trade negotiations between the two countries.'
Yahoo
an hour ago
- Yahoo
Pam Bondi fires three Jan. 6 prosecutors, sending another chill through DOJ workforce
WASHINGTON — At least three federal prosecutors who worked on cases against Jan. 6 rioters were fired Friday by the Justice Department, according to more than half a dozen current and former officials familiar with the dismissals. A copy of one of the dismissal letters seen by NBC News was signed by Attorney General Pam Bondi, notifying the recipient that they were 'removed from federal service effective immediately.' No reason for the removal was stated in the letter. One of the fired employees had been based overseas. The Justice Department declined to comment Friday night. Follow live politics coverage here. The Trump administration in late January fired probationary federal prosecutors who worked on Jan. 6 cases and prosecutors who worked on former special counsel Jack Smith's investigation into President Donald Trump. The administration also demoted some career prosecutors who worked on the Capitol siege investigation. Probationary workers are either recent hires or have taken new positions. The firings on Friday, though, marked the first time that career prosecutors who had worked Jan. 6 cases and who were past their probationary period of federal employment had been fired. It was also the first time Bondi fired Justice Department lawyers involved in prosecuting Jan. 6 cases. Bondi was confirmed by the Senate in February, after the dismissal of probationary prosecutors. The firings come at a time when the fallout from the Jan. 6 investigation — and Trump's subsequent mass pardon of even the most violent rioters — continues to loom over employees at both the Justice Department and the FBI. Numerous current and former officials have told NBC News that the targeting of people who worked on the largest investigation in FBI history have had a chilling effect on the Justice Department workforce, and would leave career prosecutors and FBI officials hesitant to pursue cases against any Trump allies for fear of being targeted by the administration. One federal law enforcement official called Friday's firings 'horrifying' and noted that both of the prosecutors had been serving in other capacities before the 2024 election. 'To fire them, without explanation, is a slap in the face not only to them, but to all career DOJ prosecutors,' the official said. 'No one is safe from this administration's whims and impulses. And the public certainly is not served by the continued brain drain of DOJ — we are losing the best among us every day.' This article was originally published on
