Latest news with #economicAgenda
CNN
02-07-2025
- Politics
- CNN
Verdict Update In Sean 'Diddy' Combs Trial, Senate Passes Trump's Bill - The Arena with Kasie Hunt - Podcast on CNN Podcasts
Verdict Update In Sean 'Diddy' Combs Trial, Senate Passes Trump's Bill The Arena with Kasie Hunt 56 mins Democratic Congressman Jamie Raskin joins Kasie Hunt to discuss President Trump's economic agenda as his landmark legislation heads back to the House following passage in the Senate. Plus, breaking news in the trial of Sean "Diddy" Combs.
Yahoo
29-06-2025
- Business
- Yahoo
Zohran Mamdani says billionaires shouldn't exist, touts economic agenda
Presumptive Democratic nominee for mayor Zohran Mamdani declared he doesn't believe billionaires should exist during a wide-ranging interview Sunday on NBC's 'Meet the Press'. 'I don't think that we should have billionaires because, frankly, it is so much money in a moment of such inequality,' he told interviewer Kristen Welker. 'Ultimately, what we need more of is equality across our city and across our state and across our country.' Fresh off his stunning defeat of former governor Andrew Cuomo in the mayoral primary, Mamdani credited his victory to his economic agenda, in which he pitched various plans to lower the notoriously high cost of living. 'What we've seen is that this is a city that needs to be affordable for the people who build it every day,' Mamdani said. 'Our focus was on exactly that.' Mamdani's left-wing proposals and open identification as a democratic socialist have drawn skepticism from several members of the Democratic Party establishment. Senator Majority Leader Chuck Schumer and House Minority Leader Hakeem Jeffries, both New Yorkers, have declined to immediately endorse Mamdani in the general election for mayor. 'This [primary] is an election that went against so much of the analysis that had been told about our party and where we needed to head to,' Mamdani said in the interview. 'And ultimately what we're showing is that by putting working people first, by returning to the roots of the Democratic Party, we actually have a path out of this moment where we're facing authoritarianism in Washington, D.C.' Mamdani's top challenger in the November election is expected to be Mayor Eric Adams, who is running as an independent. Mamdani wasted no time criticizing the incumbent in Sunday's interview, noting that Adams' administration has hiked rents in NYC's rent stabilized housing by 9% over three years. 'The median household income of those tenants is $60,000 a year,' Mamdani said. 'The landlords of those units have seen their profits increase by 12%. It's time for release for working-class New Yorkers.'
Daily Mail
26-06-2025
- Politics
- Daily Mail
Bold arrogance of '100 percent communist' vying to run America's biggest city
New York City mayoral nominee Zohran Mamdani said he should be the blueprint for Democrats nationwide after his surprise victory this week. Mamdani, 33, stunned former New York Governor Andrew Cuomo by defeating him in the Democratic primary on Tuesday, and said his 'vision' should represent a new era in the party. 'I think there is a need for a new generation of leadership,' Mamdani told Good Morning America following his win, which will now see him face a general election in November. 'I think there is a question of how we return back to what made so many of us proud to be Democrats,' he said. Asked how he would achieve that, Mamdani responded: 'I think it's that focus on an economic agenda, on ensuring people can do more than just struggle.' Mamdani was branded a '100 percent Communist lunatic' by President Trump following his primary victory this week. The self-described socialist laughed and seemed pleased to be on the president's radar and smiled as he predicted becoming a frequent target for Trump in the near future. 'You know, this is not the first time that President Trump is going to comment on myself,' he said. Zohran Mamdani tells ABC News after his upset in the New York City Democratic mayoral primary that he believes his strategy that focused on affordability and economics could be a blueprint for Democrats across the country. @rachelvscott has more. — Good Morning America (@GMA) June 26, 2025 The 33-year-old has faced mounting questions about his experience since he gained traction and ultimately won the Democratic primary, with his only public service work coming as a state assemblyman. In the state assembly, Mamdani promoted few bills, and his legislative record includes co-sponsoring bills requiring prisons to house inmates based on their self-declared gender, preventing law enforcement from asking about a perp's immigration status, and forcing small businesses to make their product packaging eco-friendly. Critics have said a Mamdani win will see the Big Apple slide back into the type of permissive lawlessness that scarred the city during the COVID crisis, but which woke locals and lawmakers scoffed at. When asked by Good Morning America about his lack of experience, Mamdani avoided talking about his record and turned the question back on his recent run for mayor. 'The experience that I show in this moment is to be able to meet the crisis that New Yorkers are facing, and deliver them a new kind of city,' he said. 'One that is unencumbered by the old ways.' He added that despite his antagonism to the Trump administration, he would work with the president 'when it is to the benefit of New Yorkers.' 'My approach will never be reflexive, whether in agreement or opposition, but if it comes at the expense of the New Yorkers that I am running to serve, then no, I will not be working with the administration on harming the people that I look to represent.' Mamdani has described himself as 'Trump's worst nightmare', and his far-left policy platform sharply divided the nation as he gained traction in the mayor's race. He says he wants to raise taxes on the top one percent of New York earners - something the mayor does not have the authority to do - and make a number of city services free including childcare and buses. The city assemblyman has also proposed spending $65 million on transgender care, freezing rent on rent-stabilized apartments, and creating city-owned grocery stores. He has also advocated for defunding the city's police department, defended pro- Palestine slogans like 'globalize the intifada' - which critics say is an anti-Semitic call for the destruction of Israel - and said he would arrest Israeli Prime Minister Benjamin Netanyahu.
CNN
30-05-2025
- Business
- CNN
White House grapples with whiplash legal rulings hitting heart of Trump's economic agenda
For a White House that has grown accustomed to a rollercoaster of legal rulings, judicial decisions over the past day throwing President Donald Trump's tariff plans into question landed like a bombshell. The rulings – which strike at the heart of Trump's economic agenda – represent far more of a threat to his priorities, White House officials said, than many other court opinions over the last four months since Trump returned to office. And perhaps no fight will prove as consequential to the president's agenda — at home and abroad — as the effort now underway by Trump and his administration to rescue his tariff policy after it was imperiled by a relatively obscure tribunal this week. The day after the US Court of International Trade — a panel housed in a boxy glass building in Lower Manhattan — ruled Trump lacked the authority to apply the sweeping sky-high tariffs under federal emergency powers, the president and his team quickly moved to have the ruling frozen. The administration blasted the Wednesday night decision, which was reached by a three-judge panel appointed by Trump, Barack Obama and Ronald Reagan. Trump's team was successful; by Thursday afternoon, a federal appeals court in Washington had preserved the tariffs on an administrative basis, buying the White House time. In the interim, there was a scramble inside the White House to both identify other authorities that would allow Trump to move ahead with the stiff new duties and to swiftly petition the courts to pause enforcement. Back-up options could prove cumbersome. Many of the alternative routes would involve lengthy investigations or require approval from Congress, where support for tariffs — even among some Republicans — is lukewarm. 'We're not planning to pursue those right now because we're very, very confident that this really is incorrect,' Trump's top economist Kevin Hassett said early Thursday in a Fox Business interview, before affirming later in the day what other White House officials had been saying: that Trump's team was exploring all its options. 'Heaven forbid, if it ever did have trouble in the future, we've got so many other options on the table that the president's policy is going to be there,' he told reporters in the White House driveway. Still, it seemed evident that Trump's advisers believed the courts would provide the best resource, even if there was little certainty at how judges will ultimately rule. 'We will respond forcefully, and we think we have a very good case with respect to this,' Trump's hawkish trade adviser Peter Navarro said following the stay decision. The whiplash rulings — which joined a string of on-again, off-again tariff moves orchestrated by Trump himself — only seemed to emphasize the degree of chaos that continues to color Trump's trade agenda. The tariffs were restored only temporarily, leaving foreign trade partners and investors in a state of limbo at least until June 9, the date by which the Justice Department must respond to those challenging the duties. The ultimate fate of Trump's prized tariffs, both a lynchpin of his wider economic agenda and the motivating force of his foreign policy, has now been thrust into deep uncertainty. And the prospects of the roughly 18 trade deals that the administration has said are being negotiated under threat of withering new tariffs — including three in their final stages, according to White House officials — now appear unclear. The legal and trade fights, which are now fully intertwined, present one of the biggest challenges yet for the administration – further complicated by urgent efforts to push the Senate to advance its budget and tax bill. Taken together, Trump faces a multi-front battle that could well define his presidency. Trump lashed out at the judiciary in a lengthy Thursday evening Truth Social post, taking aim at the three judges from the Court of International Trade. 'How is it possible for them to have potentially done such damage to the United States of America? Is it purely a hatred of 'TRUMP?' What other reason could it be?' Hours earlier, White House press secretary Karoline Leavitt had struck a similar tone, attacking 'unelected judges' ahead of the stay decision. 'America cannot function if President Trump, or any president for that matter, has their sensitive diplomatic or trade negotiations railroaded by activist judges.' Trump remained behind closed doors Thursday, but did hold a meeting with Federal Reserve chairman Jerome Powell, whom he has sharply criticized for not lowering interest rates. Powell has also expressed concern Trump's tariffs could lead to higher inflation and lower economic growth. The president's long-standing belief in tariffs has not been shaken, officials said, despite the series of legal, political and economic setbacks. While Trump has repeatedly argued that tariffs will make the United States wealthy, the counterargument that import taxes will be paid by consumers has made his sales pitch far more difficult. And businesses are begging for a sense of certainty and a consistent policy. It was a coalition of small business owners and 12 states that challenged the legality of the Trump tariffs before the US Court of International Trade. 'We brought this case because the Constitution doesn't give any president unchecked authority to upend the economy,' Oregon Attorney General Dan Rayfield said in a statement. 'We're very confident in our case,' said Jeffrey Schwab, a senior counselor at the Liberty Justice Center, which represented the small business owners who filed suit. 'The Trump administration is asserting a vast unilateral authority that is not supported in the law.' As for the uncertainty abroad, Treasury Secretary Scott Bessent argued Thursday night that trade negotiations with international partners haven't been affected. 'They are coming to us in good faith and trying to complete the deals before the 90-day pause ends,' he told Fox News. 'We've seen no change in their attitude in the past 48 hours. As a matter of fact, I have a very large Japanese delegation coming to my office first thing tomorrow morning.' But some US trading partners tread cautiously in their response. 'We will study this ruling of the US Federal Courts on reciprocal tariffs closely and note that they may be subject to further legal processes through the courts,' said Australia's trade minister Don Farrell, who was careful not to get ahead of ongoing judicial review. 'You will have to bear with us,' said a spokesman for India's Ministry of External Affairs when questioned about the court ruling. India remains in intensive discussions with the Trump administration on a trade deal. Still, the leader of one nation that has borne the brunt of Trump's trade agenda was more receptive. 'The government welcomes yesterday's decision,' Canada's Prime Minister Mark Carney, who held a stiffly cordial meeting with Trump earlier this month, told his country's parliament, calling the tariffs 'unlawful as well as unjustified.'
CNN
30-05-2025
- Business
- CNN
White House grapples with whiplash legal rulings hitting heart of Trump's economic agenda
For a White House that has grown accustomed to a rollercoaster of legal rulings, judicial decisions over the past day throwing President Donald Trump's tariff plans into question landed like a bombshell. The rulings – which strike at the heart of Trump's economic agenda – represent far more of a threat to his priorities, White House officials said, than many other court opinions over the last four months since Trump returned to office. And perhaps no fight will prove as consequential to the president's agenda — at home and abroad — as the effort now underway by Trump and his administration to rescue his tariff policy after it was imperiled by a relatively obscure tribunal this week. The day after the US Court of International Trade — a panel housed in a boxy glass building in Lower Manhattan — ruled Trump lacked the authority to apply the sweeping sky-high tariffs under federal emergency powers, the president and his team quickly moved to have the ruling frozen. The administration blasted the Wednesday night decision, which was reached by a three-judge panel appointed by Trump, Barack Obama and Ronald Reagan. Trump's team was successful; by Thursday afternoon, a federal appeals court in Washington had preserved the tariffs on an administrative basis, buying the White House time. In the interim, there was a scramble inside the White House to both identify other authorities that would allow Trump to move ahead with the stiff new duties and to swiftly petition the courts to pause enforcement. Back-up options could prove cumbersome. Many of the alternative routes would involve lengthy investigations or require approval from Congress, where support for tariffs — even among some Republicans — is lukewarm. 'We're not planning to pursue those right now because we're very, very confident that this really is incorrect,' Trump's top economist Kevin Hassett said early Thursday in a Fox Business interview, before affirming later in the day what other White House officials had been saying: that Trump's team was exploring all its options. 'Heaven forbid, if it ever did have trouble in the future, we've got so many other options on the table that the president's policy is going to be there,' he told reporters in the White House driveway. Still, it seemed evident that Trump's advisers believed the courts would provide the best resource, even if there was little certainty at how judges will ultimately rule. 'We will respond forcefully, and we think we have a very good case with respect to this,' Trump's hawkish trade adviser Peter Navarro said following the stay decision. The whiplash rulings — which joined a string of on-again, off-again tariff moves orchestrated by Trump himself — only seemed to emphasize the degree of chaos that continues to color Trump's trade agenda. The tariffs were restored only temporarily, leaving foreign trade partners and investors in a state of limbo at least until June 9, the date by which the Justice Department must respond to those challenging the duties. The ultimate fate of Trump's prized tariffs, both a lynchpin of his wider economic agenda and the motivating force of his foreign policy, has now been thrust into deep uncertainty. And the prospects of the roughly 18 trade deals that the administration has said are being negotiated under threat of withering new tariffs — including three in their final stages, according to White House officials — now appear unclear. The legal and trade fights, which are now fully intertwined, present one of the biggest challenges yet for the administration – further complicated by urgent efforts to push the Senate to advance its budget and tax bill. Taken together, Trump faces a multi-front battle that could well define his presidency. Trump lashed out at the judiciary in a lengthy Thursday evening Truth Social post, taking aim at the three judges from the Court of International Trade. 'How is it possible for them to have potentially done such damage to the United States of America? Is it purely a hatred of 'TRUMP?' What other reason could it be?' Hours earlier, White House press secretary Karoline Leavitt had struck a similar tone, attacking 'unelected judges' ahead of the stay decision. 'America cannot function if President Trump, or any president for that matter, has their sensitive diplomatic or trade negotiations railroaded by activist judges.' Trump remained behind closed doors Thursday, but did hold a meeting with Federal Reserve chairman Jerome Powell, whom he has sharply criticized for not lowering interest rates. Powell has also expressed concern Trump's tariffs could lead to higher inflation and lower economic growth. The president's long-standing belief in tariffs has not been shaken, officials said, despite the series of legal, political and economic setbacks. While Trump has repeatedly argued that tariffs will make the United States wealthy, the counterargument that import taxes will be paid by consumers has made his sales pitch far more difficult. And businesses are begging for a sense of certainty and a consistent policy. It was a coalition of small business owners and 12 states that challenged the legality of the Trump tariffs before the US Court of International Trade. 'We brought this case because the Constitution doesn't give any president unchecked authority to upend the economy,' Oregon Attorney General Dan Rayfield said in a statement. 'We're very confident in our case,' said Jeffrey Schwab, a senior counselor at the Liberty Justice Center, which represented the small business owners who filed suit. 'The Trump administration is asserting a vast unilateral authority that is not supported in the law.' As for the uncertainty abroad, Treasury Secretary Scott Bessent argued Thursday night that trade negotiations with international partners haven't been affected. 'They are coming to us in good faith and trying to complete the deals before the 90-day pause ends,' he told Fox News. 'We've seen no change in their attitude in the past 48 hours. As a matter of fact, I have a very large Japanese delegation coming to my office first thing tomorrow morning.' But some US trading partners tread cautiously in their response. 'We will study this ruling of the US Federal Courts on reciprocal tariffs closely and note that they may be subject to further legal processes through the courts,' said Australia's trade minister Don Farrell, who was careful not to get ahead of ongoing judicial review. 'You will have to bear with us,' said a spokesman for India's Ministry of External Affairs when questioned about the court ruling. India remains in intensive discussions with the Trump administration on a trade deal. Still, the leader of one nation that has borne the brunt of Trump's trade agenda was more receptive. 'The government welcomes yesterday's decision,' Canada's Prime Minister Mark Carney, who held a stiffly cordial meeting with Trump earlier this month, told his country's parliament, calling the tariffs 'unlawful as well as unjustified.'
