Donald Trump signs his tax and spending cut bill at the White House July 4 picnic
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Winnipeg Free Press
an hour ago
- Winnipeg Free Press
The Latest: Trump to meet with Netanyahu
Israeli Prime Minister Benjamin Netanyahu and President Donald Trump are set to meet for the third time this year. Among the issues for discussion: Israel's 21-month war against Hamas in Gaza and questions over how hard Trump will push for an end to the conflict. Trump has made clear that following the 12-day war between Israel and Iran, he would like to see the Gaza conflict end soon. The meeting between Trump and Netanyahu could give new urgency to a U.S. ceasefire proposal being discussed by Israel and Hamas, but whether it leads to a deal that ends the war is unclear. Here's the Latest: Pressure from Trump for trade deals before Wednesday deadline The Trump administration is stepping up pressure on trading partners to quickly make new deals before a Wednesday deadline, with plans for the United States to start sending letters Monday warning countries that higher tariffs could kick in Aug. 1. That furthers the uncertainty for businesses, consumers and America's trading partners, and questions remain about which countries will be notified, whether anything will change in the days ahead and whether President Donald Trump will once more push off imposing the rates. Trump and his top trade advisers say he could extend the time for dealmaking but they insist the administration is applying maximum pressure on other nations. Kevin Hassett, director of the White House National Economic Council, told CBS' 'Face the Nation' on Sunday that Trump would decide when it was time to give up on negotiations. Trump signs tax breaks and spending cuts into law on Fourth of July Trump signed his package of tax breaks and spending cuts into law Friday in front of Fourth of July picnickers after his cajoling produced almost unanimous Republican support in Congress for the domestic priority that could cement his second-term legacy. Flanked by Republican legislators and members of his Cabinet, Trump signed the multitrillion-dollar legislation at a desk on the White House driveway, then banged down a gavel gifted to him by House Speaker Mike Johnson that was used during the bill's final passage Thursday. Against odds that at times seemed improbable, Trump achieved his goal of celebrating a historic — and divisive — legislative victory in time for the nation's birthday, which also was his self-imposed deadline for Congress to send the legislation to his desk. Fighter jets and stealth bombers streaked through the sky over the annual White House Fourth of July picnic.
CTV News
an hour ago
- CTV News
Tesla slides as Elon Musk's ‘America Party' sparks investor worries
Elon Musk listens as President Donald Trump speaks to reporters in the Oval Office of the White House earlier this year. (via CNN Newsource) Tesla shares fell nearly seven per cent in premarket trading on Monday after CEO Elon Musk's plans to launch a new U.S. political party raised investor doubts about his focus on the electric automaker's future. The former head of the Department of Government Efficiency (DOGE) unveiled the 'America Party' on Saturday, voicing his displeasure over U.S. President Donald Trump's 'One Big, Beautiful Bill'. This further escalates Musk's feud with Trump even as Tesla posted a second straight drop in quarterly deliveries. Their discord over the tax bill erupted into an all-out social media brawl in early June, with Trump threatening to cut Musk's government contracts and subsidies. 'Investors are worried about two things – one is more Trump ire affecting subsidies and the other, more importantly, is a distracted Musk," said Neil Wilson, U.K. investor strategist at Saxo Markets. Investors had in May cheered Musk's decision to scale back political spending and remain Tesla CEO for another five years. He had spent nearly US$300 million around Trump's re-election campaign last year. 'But now (they) are worried he's going to (get) sucked back in and take his eye off Tesla,' Wilson said. The first signs of investor unease surfaced soon after Musk's announcement, with investment firm Azoria Partners delaying the listing of a Tesla exchange-traded fund. Trump on Sunday called Musk's plans to form the 'America Party' 'ridiculous,' saying the Musk ally he once named to lead NASA would have presented a conflict of interest given Musk's business interests in space. Tesla board moves Wedbush analyst Dan Ives, a Tesla bull, said many investors are feeling a 'sense of exhaustion' over Musk's insistence on immersing himself in politics. Azoria Partners CEO James Fishback posted several critical comments on X about Musk's new party, and called for the Tesla board to clarify Musk's political ambitions and evaluate if his political involvement is compatible with his obligations to Tesla as CEO. The new party undermines the confidence shareholders had that Musk would be focusing more on the company, Fishback said. Musk's latest political move raises questions around Tesla board's course of action. Its Chair Robyn Denholm in May denied a Wall Street Journal report that said board members were looking to replace the CEO. Tesla's board, which has been criticized for failing to provide oversight of its combative, headline-making CEO, faces a dilemma managing him as he oversees five other companies and his personal political ambitions. 'This is exactly the kind of thing a board of directors would curtail - removing the CEO if he refused to curtail these kinds of activities,' said Ann Lipton, a professor at the University of Colorado Law School and an expert in business law. 'The Tesla board has been fairly supine; they have not, at least not in any demonstrable way, taken any action to force Musk to limit his outside ventures, and it's difficult to imagine they would begin now.' Tensions with Trump, struggling sales and an aging vehicle line-up have hurt Tesla's stock, even as the company bets on growth from autonomous vehicles. The stock, which soared to over $488 in December after Trump's November re-election, has lost 35 per cent since then and closed last week at $315.35. Tesla is the worst performing stock among 'the Magnificent Seven' group of high-growth U.S. companies this year. (Reporting by Joel Jose and Arsheeya Bajwa in Bengaluru and Amanda Cooper in London; additional reporting by Medha Singh; Editing by Saumyadeb Chakrabarty and Arun Koyyur)
Toronto Star
an hour ago
- Toronto Star
EU commission chief von der Leyen faces a no-confidence vote this week
BRUSSELS (AP) — The president of the European Union's executive branch, Ursula von der Leyen, faces a no-confidence vote this week linked in part to text messages she exchanged with a pharmaceutical boss during the COVID-19 pandemic. EU lawmakers will debate von der Leyen's future at the European Parliament in Strasbourg, France, on Monday in the European Commission president's presence, and vote on a censure motion on Thursday. The commission proposes EU laws and supervises whether those that enter force are respected.
