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Trump’s latest tariff plan aims at multiple countries. What does it mean for the US?
UNCASVILLE, Conn. (AP) — John Poulakidas' 22 points helped Yale defeat Fairfield 91-66 on Saturday. Poulakidas shot 7 for 8, including 6 for 7 from beyond the arc for the Bulldogs (4-3). Nick Townsend scored 16 points and added seven rebounds and five assists. Samson Aletan shot 5 of 9 from the field and 5 for 6 from the line to finish with 15 points. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.Syrian rebels have declared victory in a vital city on their way to taking the capital, with reports indicating that anti-Bashar al-Assad forces are progressing through the Damascus suburbs. Timour Azhari, the Iraq Bureau Chief at Reuters, posted video to social media platform X showing "large celebrations in Lebanon's northern city of Tripoli after rebels take Homs," the third-largest city in Syria. Homs also serves as a vital hub that connects the country's north and south through the capital. "Syria rebels announce 'total liberation' of Homs," Azhari wrote in another post. The advance follows reports that Syrian President Bashar al-Assad has fled the country – reports that the Syrian government completely rejected earlier on Saturday. Syrian rebel leader Abu Mohammad al-Jolani called the victory a "historic moment" and called on his fighters not to harm "those who drop their arms," according to the BBC . The BBC also reported that rebels have also targeted the Saydnaya prison, a notorious detention center. This is a developing news story and will be updated with more information. Large celebrations in Lebanon’s northern city of Tripoli after rebels take Homs pic.twitter.com/eKRCBhb1pM
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Betty White Forever: New stamp will honor the much-beloved 'Golden Girls' actorDAYTONA BEACH, Fla. (AP) — Kobe Magee had 23 points in Drexel's 83-71 win against Chicago State on Tuesday. Magee had nine rebounds for the Dragons (5-3). Yame Butler shot 6 of 10 from the field and 8 for 11 from the line to add 20 points. Cole Hargrove went 5 of 7 from the field to finish with 10 points. Troy McCoy finished with 19 points and six rebounds for the Cougars (0-8). Jalen Forrest added 14 points for Chicago State. Matthew Robinson finished with 10 points and two steals. Jason Drake led Drexel in scoring with eight points in the first half to help put them up 35-28 at the break. Magee scored 16 points in the second half. The Associated Press created this story using technology provided by and data from .Lilly's 21 lead Brown over Canisius 83-76WASHINGTON (AP) — President-elect Donald Trump has identified what he sees as an all-purpose fix for what ails America: Slap huge new tariffs on foreign goods entering the United States. On Monday, Trump sent shockwaves across the nation's northern and southern borders, vowing sweeping new tariffs on Mexico, Canada , as well as China, as soon as he takes office as part of his effort to crack down on illegal immigration and drugs. In a pair of posts on his Truth Social site Trump railed against an influx of immigrants lacking permanent legal status, even though southern border apprehensions have been hovering near four-year lows. He said he would impose a 25% tax on all products entering the country from Canada and Mexico, and an additional 10% tariff on goods from China, as one of his first executive orders. He said the new tariffs would remain in place “until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!” The president-elect asserts that tariffs — basically import taxes — will create more factory jobs, shrink the federal deficit, lower food prices and allow the government to subsidize childcare. Economists are generally skeptical, considering tariffs to be a mostly inefficient way for governments to raise money. They are especially alarmed by Trump’s latest proposed tariffs. Carl B. Weinberg and Rubeela Farooqi, economists with High Frequency Economics said Tuesday that energy, automobiles and food supplies will be particularly hit hard. “Imposing tariffs on trade flows into the United States without first preparing alternative sources for the goods and services affected will raise the price of imported items at once," Weinberg and Farooqi wrote. "Since many of these goods are consumer goods, households will be made poorer.” High Frequency Economics believes the threats are not meant to support new trade policy and are instead a tool to elicit some changes along the borders and for imports from Canada, Mexico and China. Though Vice President Kamala Harris criticized Trump’s tariff threats as unserious during her failed bid for the presidency, the Biden-Harris administration retained the taxes the Trump administration imposed on $360 billion in Chinese goods. And it imposed a 100% tariff on Chinese electric vehicles. Indeed, the United States in recent years has gradually retreated from its post-World War II role of promoting global free trade and lower tariffs. That shift has been a response to the loss of U.S. manufacturing jobs, widely attributed to unfettered trade and an increasingly aggressive China. They are typically charged as a percentage of the price a buyer pays a foreign seller. In the United States, tariffs are collected by Customs and Border Protection agents at 328 ports of entry across the country. The tariff rates range from passenger cars (2.5%) to golf shoes (6%). Tariffs can be lower for countries with which the United States has trade agreements. For example, most goods can move among the United States, Mexico and Canada tariff-free because of Trump’s US-Mexico-Canada trade agreement. Trump insists that tariffs are paid for by foreign countries. In fact, its is importers — American companies — that pay tariffs, and the money goes to U.S. Treasury. Those companies, in turn, typically pass their higher costs on to their customers in the form of higher prices. That's why economists say consumers usually end up footing the bill for tariffs. Still, tariffs can hurt foreign countries by making their products pricier and harder to sell abroad. Yang Zhou, an economist at Shanghai’s Fudan University, concluded in a study that Trump’s tariffs on Chinese goods inflicted more than three times as much damage to the Chinese economy as they did to the U.S. economy By raising the price of imports, tariffs can protect home-grown manufacturers. They may also serve to punish foreign countries for committing unfair trade practices, like subsidizing their exporters or dumping products at unfairly low prices. Before the federal income tax was established in 1913, tariffs were a major revenue driver for the government. From 1790 to 1860, tariffs accounted for 90% of federal revenue, according to Douglas Irwin, a Dartmouth College economist who has studied the history of trade policy. Tariffs fell out of favor as global trade grew after World War II. The government needed vastly bigger revenue streams to finance its operations. In the fiscal year that ended Sept. 30, the government is expected to collect $81.4 billion in tariffs and fees. That's a trifle next to the $2.5 trillion that's expected to come from individual income taxes and the $1.7 trillion from Social Security and Medicare taxes. Still, Trump wants to enact a budget policy that resembles what was in place in the 19th century. He has argued that tariffs on farm imports could lower food prices by aiding America’s farmers. In fact, tariffs on imported food products would almost certainly send grocery prices up by reducing choices for consumers and competition for American producers. Tariffs can also be used to pressure other countries on issues that may or may not be related to trade. In 2019, for example, Trump used the threat of tariffs as leverage to persuade Mexico to crack down on waves of Central American migrants crossing Mexican territory on their way to the United States. Trump even sees tariffs as a way to prevent wars. “I can do it with a phone call,’’ he said at an August rally in North Carolina. If another country tries to start a war, he said he’d issue a threat: “We’re going to charge you 100% tariffs. And all of a sudden, the president or prime minister or dictator or whoever the hell is running the country says to me, ‘Sir, we won’t go to war.’ ” Tariffs raise costs for companies and consumers that rely on imports. They're also likely to provoke retaliation. The European Union, for example, punched back against Trump’s tariffs on steel and aluminum by taxing U.S. products, from bourbon to Harley-Davidson motorcycles. Likewise, China responded to Trump’s trade war by slapping tariffs on American goods, including soybeans and pork in a calculated drive to hurt his supporters in farm country. A study by economists at the Massachusetts Institute of Technology, the University of Zurich, Harvard and the World Bank concluded that Trump’s tariffs failed to restore jobs to the American heartland. The tariffs “neither raised nor lowered U.S. employment’’ where they were supposed to protect jobs, the study found. Despite Trump’s 2018 taxes on imported steel, for example, the number of jobs at U.S. steel plants barely budged: They remained right around 140,000. By comparison, Walmart alone employs 1.6 million people in the United States. Worse, the retaliatory taxes imposed by China and other nations on U.S. goods had “negative employment impacts,’’ especially for farmers, the study found. These retaliatory tariffs were only partly offset by billions in government aid that Trump doled out to farmers. The Trump tariffs also damaged companies that relied on targeted imports. If Trump’s trade war fizzled as policy, though, it succeeded as politics. The study found that support for Trump and Republican congressional candidates rose in areas most exposed to the import tariffs — the industrial Midwest and manufacturing-heavy Southern states like North Carolina and Tennessee.
Anti-NATO protest in Montreal erupts in fires, smashed windows, arrests, say policeArgentina's Racing Wins Its First Copa Sudamericana Championship by Beating Brazil's Cruzeiro 3-1TORONTO -- Canadian officials on Tuesday blasted President-elect Donald's Trump's threat to impose sweeping tariffs , as the leader of the country's most populous province called Trump's comparison of Canada to Mexico “the most insulting thing I’ve ever heard.” Trump has threatened to impose tariffs on products from Canada, Mexico and China as soon as he takes office in January as part of efforts to crack down on illegal immigration and drugs. He said he would impose a 25% tax on all products entering the U.S. from Canada and Mexico as one of his first executive orders. “To compare us to Mexico is the most insulting thing I’ve ever heard from our friends and closest allies, the United States of America," Ontario Premier Doug Ford said. “I found his comments unfair. I found them insulting. It’s like a family member stabbing you right in the heart." Ford said Canada will have no choice but to retaliate. Prime Minister Justin Trudeau will convene an emergency meeting with provincial leaders on Wednesday. The Canadian dollar weakened sharply in foreign exchange markets. Trudeau said he spoke with Trump after his threat of tariffs. “We talked about the intense and effective connections between our countries that flow back and forth. We talked about some of the challenges that we can work on together. It was a good call,” Trudeau said. Trump made the threat Monday while railing against an influx of illegal migrants, even though apprehensions at the southern U.S. border have been near four-year lows. Apprehension numbers at the Canadian border pale in comparison. “We shouldn’t confuse the Mexican border with the Canadian border,” Canadian Industry Minister François-Philippe Champagne said. The U.S. Border Patrol made 56,530 arrests at the Mexican border in October — and 23,721 arrests at the Canadian one between October 2023 and September 2024. "It’s the equivalent to a significant weekend at the Mexico border,” Canadian Immigration Minister Marc Miller said, adding that Canada is considering a number of border measures including additional resources. Quebec Premier François Legault acknowledged that the issue along the Mexican border is far worse but called Trump's concerns legitimate, citing a recent increase in illegal immigrants entering the U.S. from Canada. “A 25% tariff would mean tens of thousands of jobs lost,” Legault said. “We cannot start a war. We have to do everything we can to not have these tariffs." Canada is one of the most trade-dependent countries in the world, and 77% of Canada’s exports go to the U.S. Nearly $3.6 billion Canadian (US$2.7 billion) worth of goods and services cross the border each day. About 60% of U.S. crude oil imports are from Canada, and 85% of U.S. electricity imports are from Canada. Canada is also the largest foreign supplier of steel, aluminum and uranium to the U.S. and has 34 critical minerals and metals that the Pentagon is investing in for national security. “The fact is, we need them and they also need us,” Deputy Prime Minister Chrystia Freeland said. “Canada is the largest market for the U.S in the world, larger than China, Japan, the U.K. and France combined. It is also the case that the things we sell to the United States are the things they really need." When Trump imposed higher tariffs during his first term, countries responded with retaliatory tariffs. Canada announced billions of dollars in new duties in 2018 in response to new U.S. taxes on Canadian steel and aluminum. Many of the U.S. products were chosen for their political rather than economic impact. For example, Canada imports $3 million worth of yogurt from the U.S. annually and most comes from one plant in Wisconsin, home state of then-House Speaker Paul Ryan. That product was hit with a 10% duty. Now, again, Canadians are particularly worried about auto tariffs. The North American auto industry is highly integrated, and parts made in Canada often go to cars manufactured in the U.S. and sold back to Canadians. “To try and undo it with a tariff would be like trying to separate the yolks from the whites in a omelet. You cannot,” said Flavio Volpe, president of Canada's Automotive Parts Manufacturers Association. “You cannot hurt Canadian automotive without immediately hurting American automotive." The tariffs would also throw into doubt the reliability of the 2020 trade deal brokered in large part by Trump with Canada and Mexico that replaced NAFTA. It is up for review in 2026.
