
Trump's tariffs and executive orders have made him the ‘most influential president', data guru says
Enten highlighted Trump's controversial tariff policies, noting the effective tariff rate has risen to 18 percent, the highest since the 1930s.
The Trump administration implemented a 10 percent universal tariff on goods from countries where the US exports more than it imports, with higher levies for nations with trade deficits.
Data also showed a significant decrease in net migration to the United States under Trump, projected to be down by at least 60 percent.
Trump has signed 180 executive orders this year, a volume not seen since the Franklin D. Roosevelt administration.
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The Independent
26 minutes ago
- The Independent
Trump's clumsy nuclear rhetoric shows he still has no strategy to deal with Putin
US president Donald Trump claims to have ordered a redeployment of nuclear submarines in response to threatening language from Moscow. Predictably, the US and global media have reacted excitedly, without always stopping to consider what, if anything, has happened, and why. As with Trump's other comments on Russia, the vague statement raised more questions than answers. Trump claimed he ordered two nuclear submarines (without specifying whether that meant nuclear-armed or nuclear-powered) to be positioned 'in the appropriate regions' (without explaining why they would have been somewhere inappropriate to start with). All of which came in response to a taunt containing a reference to The Walking Dead and a laughing emoji on social media from Dmitry Medvedev, once president of Russia but now enjoying a public persona more akin to a court jester. Trump's secretary of state Marco Rubio seems confident that Medvedev is 'not a relevant player in Russian politics', and yet his trolling has supposedly triggered a change in American nuclear posture. As with so much else in Trumpworld, the explanation probably lies elsewhere. It's true that Trump's verbal outbursts criticising Moscow have become more frequent recently – and that this marks a startling turnaround from his earlier inclination to blame Ukrainian president Volodymyr Zelenskyy for Russia having invaded his country. But despite the latest claims, there's still no indication that Trump is willing to follow words with meaningful action. The latest arbitrary deadline for Vladimir Putin to take unspecified action towards ending Russia's war on Ukraine, followed by an equally arbitrary bringing forward of the deadline, suggest there is no coherent plan for putting pressure on Moscow. Instead, when setting dates, Trump appears to be plucking random numbers from the air and then changing them with no warning, in the same manner as when setting the United States's global trade policy. With the submarine comment, Trump has discovered another means of appearing 'tough on Russia' without actually doing anything that would be of any concern to Moscow – and there are plenty of other reasons why he might be seeking headlines that suggest he is taking a firmer line with Putin. Namely, that Trump needs distractions at the moment. His best efforts to keep his relationship with sex offenders Jeffrey Epstein and Ghislaine Maxwell out of the headlines, and prevent the release of any material from their criminal case that may implicate Trump personally, have been counterproductive. And the effects of his economic policies are starting to dawn on even those sections of the American public that still believe he has their best interests at heart. With prices rising rapidly amid uncertainty triggered by Trump's chaotic tariff policy, it is becoming harder to maintain upbeat messaging on the economy – and last week also saw the release of employment statistics so bad that Trump felt compelled to shoot the messenger who delivered them, by firing the head of the Bureau of Labour Statistics. This, and moving submarines in response to an insult from a Russian politician who throws them for a living, unfortunately fits Trump's style of governing through outbursts and rants in response to perceived slights more than through clear and considered policy. But whatever the reasons for that, the net effect is that once again, Trump has taken every possible step to pressure Russia short of actually doing something. In fact, he has succeeded in preventing action that Russia would dislike: Trump's notional deadline for Putin to do something successfully headed off an initiative by Senate Republicans to push through a package of secondary sanctions that would have caused genuine headaches for Moscow, not to mention a proposal for sanctions on China for supporting Russia's war. That's one reason among many why Russia felt the Trump submarine claim, which, if made by any other US president, would have been a significant and dramatic move, could be calmly ignored. Whatever Trump's latest verbal salvo at Moscow may be, there's one thing it isn't: a strategy for dealing with Russia, let alone a sensible or coherent one. Vladimir Putin and those around him will no doubt continue to watch Trump's moves closely; but perhaps as much out of curiosity as of concern as to what he will do next.


Daily Mail
27 minutes ago
- Daily Mail
Why the firing of Bureau of Labor Statistics boss is bad news for your money
President Trump's sudden firing of the nation's top labor data official may seem like political drama — but experts warn it could have very real consequences for your wallet. The president ousted Bureau of Labor Statistics (BLS) Commissioner Dr. Erika McEntarfer on Friday, just hours after the release of weak jobs figures. Trump believes the federal agency had previously manipulated figures to appear worse than they really were. The president accused McEntarfer of 'faking' jobs numbers in a blistering post to Truth Social that did not provide evidence to support the accusations. The sacking undermines confidence that independent agencies are putting out accurate data, a fact that could have damaging effects on trillions of dollar of assets including 401(k)s. Despite the potential severity of the situation financial markets did not appear to react much to the firing of McEntarfer, who was appointed to the role by former President Joe Biden. Damaging the BLS's reputation could mean markets don't trust the economic data it puts out, which affects how they price assets and therefore the overall direction of stock indices. As well as the political firing of McEntarfar the BLS has raised alarm bells over its collection of recent inflation data. Due to staff shortages the agency stopped collecting figures from certain cities and began to estimate more prices rather than checking them directly with sold goods or services, the Wall Street Journal reported. If investors believe this data is being tampered with politically or is simply not trustworthy it could reduce the allure of the $2 trillion Treasury Inflation-Protected Securities (TIPS) market. The return on these Treasury bonds are largely determined by BLS reports. Further to this investors who own other types of bonds and mortgage securities look to the TIPS market to determine their own rates of return versus inflation. If inflation data is less trustworthy it could also cause dissent from the tens of millions of Americans who receive Social Security checks that are linked to inflation. It could be the same case for millions of state and local retiree pension benefits. Taxpayers could also sound the alarm if their exemptions, tax brackets, retirement-account contribution limits and deductions that are linked to the rising cost of living could be effected by untrusted data. McEntarfar's firing comes after months of threats from Trump against Federal Reserve Chair Jerome Powell for not lowering interest rates fast enough. Firing Powell before his term ends in May 2026 would likely cause a rout in financial markets who insist the independence of the Fed is critical for stability. Trump has targeted Fed Chair Jerome Powell claiming he is 'too late' on lowering interest rates A new Fed chair seen as under Trump's influence would also concern Wall Street. 'Whomever is appointed, the key thing to monitor is whether they are perceived as being a political appointee,' Eric Winograd, chief U.S. economist at Alliance Bernstein told Reuters. 'And by that, I mean someone whose views change with the whims of the president.' Even if Trump does not fire Powell appointing a shadow chair could blur the Fed's message and direction. Markets respond not just to official Fed decisions, but also to hints about future moves — meaning mixed signals could cause turmoil.


Daily Mail
27 minutes ago
- Daily Mail
America's hottest stock in 2025 is barely on anyone's radar
The best-performing stock this year isn't one of the tech giants that dominate headlines. While the likes of Meta, Alphabet, and Amazon have delivered solid gains, they've all been outshone by AI-powered software and data firm Palantir. Palantir's stock has surged 565 percent over the past year — more than doubling in 2025 alone — making it the top performer on the S&P 500. On Monday, the company reported quarterly revenue of $1 billion for the first time, beating Wall Street expectations and sending the stock up another four percent. Best known for building software used by the military, intelligence agencies, and law enforcement, Palantir has seen a sharp uptick in business under President Trump's second term. Since Trump began his second term Palantir has picked up at least $300 million of new business. Many of its new contracts come from the federal government including works for the Federal Aviation Administration, the Centers for Disease Control and Prevention, and Fannie Mae, according to federal records. With Trump's administration championing artificial intelligence, cost-cutting, and private-sector partnerships, Palantir's federal business boom shows no signs of slowing. Just last week Palantir gained its biggest contract yet, an agreement to consolidate all of the military's software use over the next decade at a cost of up to $10 billion. Further to this the government has agreed to pump $795 million more into the military's core artificial intelligence software program that was built by Palantir. The Pentagon wants to expand the Maven Smart System to be used by all US forces across the globe. 'They were positioned in the right way at the right time, and they had already built the technology that had the capability to do what the administration is trying to do,' Matt Pearl, director of the Strategic Technologies Program at the Center for Strategic and International Studies (CSIS) told the Washington Post. The firm's government work picked up under Elon Musk's reign at DOGE where he trumpeted a technology-forward crusade against government waste and inefficiency. Palantir was founded by Peter Thiel, a mentor to JD Vance, and current CEO Alex Karp in the aftermath of 9/11 to help arm the state with the latest technology. Since 2008 the company has been awarded nearly $3 billion in federal funds from over 300 contracts from both Republican and Democratic administrations. Among its most high-profile uses was when its software helped orchestrate the 2011 raid that killed Osama bin Laden. Palantir was founded in the aftermath of 9/11 to help arm the state with the latest technology 'Palantir is an exceptional American company,' a senior State Department official told the Post. The official said the department was 'proud to partner with them to modernize how we carry out America's diplomacy.' 'We are proud to support the U.S. government, especially our warfighters, and our growth reflects growing government AI adoption,' a spokesperson for Palantir told the publication. Other technology stocks including Meta and Microsoft are also having a strong year, helping to push the S&P 500 up to recent record highs. In their second quarter earnings released last week Meta beat Wall Street expectations with $47.52 billion in revenue, while Microsoft brought in $76.44 billion, up 18 percent from a year ago.