Trump tariffs live updates: US and Asia stock market plummets amid recession fears

The president was up late final night time on Reality Social talking up for his billionaire adviser Elon Musk after he endured a torrid day on Monday wherein his private internet price sank by at the very least $18.8bn as Tesla’s share value slumped and X suffered a significant cyber-attack.

Trump insisted Musk is doing “a implausible job” in firing federal staff and scrapping support applications and mustn’t pay the value for aiding his administration, even pledging to go right down to his nearest Tesla showroom to purchase one as we speak as a present of help/advertising and marketing stunt (he doesn’t even drive, does he?)

Musk was additionally generously promoted on Fox Information too, with Sean Hannity showing to be speaking himself into shopping for a Tesla as properly.

Here’s Mike Bedigan on Elon’s bad day yesterday.

A sell-off throughout US markets has continued as investor sentiment soured amid rising fears that the world’s largest financial system is dealing with a recession.

The temper spilled over into London’s FTSE 100 on Monday which dropped 79.66 factors, or 0.92%, to shut at 8,600.22.

It follows every week of turbulence for international inventory markets, wherein traders have tried to digest the impression of US tariffs on Canada, Mexico and China.

Over the week, American President Donald Trump made coverage, then reversed it, together with briefly halting tariffs on Canada and Mexico on Thursday.

Nearly a decade in the past, when his first marketing campaign for the presidency was a mere publicity stunt, Donald Trump amused his viewers at a gathering at Dordt School, Sioux Middle, Iowa with a fairly prescient quip: “I might stand in the course of Fifth Avenue and shoot somebody, and I would not lose any voters, OK? It is, like, unimaginable.”

It illuminates a query that turns into extra urgent, extra puzzling and extra miserable with every passing day of the second Trump presidency. Precisely what does this despot must do for some individuals to name him out? Hopefully, not a murder in chilly blood in New York Metropolis – however nonetheless…

In Michael Wolff’s new e-book, All or Nothing, about Donald Trump’s resounding election victory, he describes how, for a very long time, the brand new US president thought he had no probability.

Trump assumed that Joe Biden wouldn’t keep the course, however anticipated Michelle Obama to take his place. Trump was afraid of her. He didn’t relish confronting the good Princeton College and Harvard Regulation College graduate.

Now, Canada’s Liberal Social gathering has simply chosen one other Michelle Obama-esque particular person as its prime minister. Mark Carney would possibly lack Obama’s apparent empathy and contact, however he is similarly rigorous, intellectually equipped, capable of fighting untruth with fact – and able to master technical detail. Self-assured and confident, he is just the sort of opponent Trump struggles with.

Asian benchmarks dove Tuesday, as worries grew concerning the ripple results from President Donald Trump‘s tariffs on regional economies and corporations.

The inventory fall in Asia echoed the sell-off on Wall Street, the place traders are elevating questions on how a lot ache Trump will let the financial system endure via tariffs and different insurance policies so as to get what he needs.

The Trump administration has unveiled an overhauled cellphone app as soon as used to let migrants apply for asylum, turning it right into a system that enables individuals dwelling illegally within the U.S. to say they wish to depart the nation voluntarily.

The renamed app, introduced Monday and now referred to as CBP Residence, is a part of the administration’s marketing campaign to encourage “self-deportations, ” touted as a straightforward and cost-effective strategy to nudge alongside President Donald Trump’s push to deport hundreds of thousands of immigrants with out authorized standing.

“The app offers unlawful aliens in america with a simple strategy to declare their intent to voluntarily depart, providing them the prospect to depart earlier than dealing with harsher penalties,” Pete Flores, the appearing commissioner for U.S Customs and Border Safety, mentioned in an announcement.

In an interview with right-wing outlet Actual America’s Voice, the Colorado congresswoman accused Inexperienced, who’s Black, of shaking “his pimp cane” on the president, after he stood to provide a vocal protest.

The Texas rep, 77, was escorted from the chamber by the Sergeant at Arms after repeatedly shouting “you haven’t any mandate” at Trump. Inexperienced later advised reporters: “It is price it to let individuals know that there are some people who find themselves going to face up” to Trump.

In an e mail despatched out on Monday and shared on social media, Appearing Administrator Janet Petro mentioned the company’s reductions have been phased and happen upfront of a reorganization plan.

“We are going to shut NASA’s Workplace of Know-how, Coverage, and Technique, the Workplace of the Chief Scientist, and the Range, Fairness, Inclusion, and Accessibility department within the Workplace of Range and Equal Alternative, together with decreasing their workforce,” said Petro.

The Inatsisartut parliament consists of 31 MPs to be chosen from six political parties – two of that are within the governing coalition, Inuit Ataqatigiit and the Simiut events.

The chief of the party that wins probably the most seats in parliament within the March 11 vote turns into prime minister – at the moment Mute Egede of the left-wing Inuit Ataqatigiit get together.

A nonprofit that was awarded practically $7 billion by the Biden administration to finance clear power and climate-friendly initiatives has sued President Donald Trump‘s Environmental Safety Company, accusing it of improperly freezing a legally awarded grant.

Local weather United Fund, a coalition of three nonprofit teams, demanded entry to a Citibank account it obtained via the Greenhouse Gasoline Discount Fund, a program created in 2022 by the bipartisan Inflation Discount Act and extra generally generally known as the inexperienced financial institution. The freeze threatens its means to challenge loans and even pay staff, he group mentioned.

“The mixed actions of Citibank and EPA successfully nullify a congressionally mandated and funded program,” Local weather United wrote in a Monday courtroom submitting.