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Vice President Kamala Harris, on the other hand, underperformed by about 6.8 million votes compared with Joe Biden in 2020, according to CNN election results as of November 25. The other came in 2012, when about 2.2 million fewer votes were cast than in 2008. Harris got fewer votes than Biden in 45 of the 50 states and Washington, DC. But Harris lost votes compared with Biden across the country. Trump made gains across the seven battleground states in particular, but they weren’t limited to places with higher turnout.
Persons: Donald Trump, Kamala Harris, Joe Biden, , Harris, Trump, Biden Organizations: CNN, Republican, Democratic, Electoral, Trump, Biden Locations: Washington, DC, California , New York, Florida, Texas , Florida, New York, New Jersey, Massachusetts, Wisconsin , Georgia, North Carolina, Nevada, . Pennsylvania, Michigan, Pennsylvania , Wisconsin, Southern California, Northeast, Georgia, Utah, Michigan , Wisconsin, Pennsylvania
Pokrovsk, eastern Ukraine CNN —The Russian assault, caught in grainy feeds from multiple drones, is relentless and daily. Yet two vehicles make it to the treeline and drop off Russian troops to shelter in the scant winter foliage. Another scene involves a Ukrainian drone unit defending another village, mostly without infantry support, encircled by Russian troops. We constantly hear about it from intercepts, that they have replacements and rotations.”Kotia, a reconnaissance sniper from the 15th National Guard. The footage shows a local in an orange shirt, guiding advancing Russian troops to a basement where Ukrainian soldiers were hiding.
Persons: , Pokrovsk, Selydove, Donald Trump, , Kashei, Kotia, ” Kotia, Vladimir Putin Organizations: Ukraine CNN, Aging, CNN, National Guard, 15th National Guard, Pokrovsk . CNN Troops, Trump, Pokrovsk Locations: Ukraine, Ukrainian, Pokrovsk, Russia, Selydove, Russian, Russia’s Kursk, Kurakhove, gunpoint, Geneva
The US government tracks what percentage of each car’s parts is made “domestically.” But under current trade law, both Canadian-made parts and US-made parts are counted as the same domestic content. “Yes, it’s America’s truck, assembled in America, but not with American parts,” Ivan Drury, director of insights for Edmunds, told CNN. Domestic parts could be tough to findFinding domestic supplies for many of the imported car parts would be difficult. Even if an American parts supply could be found, in most cases it would be more expensive. Fewer imported cars would raise all pricesTariffs on imported vehicles likely would also lead to higher prices on cars that are assembled here, since it would limit the supply of vehicles in the US market.
Persons: Donald Trump, Trump, aren’t, Bill Clinton, Bill Pugliano, Honda, , it’s, ” Ivan Drury, Edmunds, Jeff Schuster, GlobalData, , Drury, “ You’re Organizations: New, New York CNN, GM, Ford, Jeep, Dodge, Chrysler, Toyota, Honda, Tesla, Hyundai, Kia, Nissan, Mazda, Subaru, CNN, Chevrolet Blazer, Chevrolet Silverado Locations: New York, Mexico, Canada, American, United States, China, Lincoln , Alabama, Dearborn , Michigan, Michigan, Missouri, America, Saltillo , Mexico
He raised no substantive concerns about Trump’s proposals to deport migrants, despite Pope Francis making welcoming migrants a persistent theme of his pontificate. Simone Risoluti/Vatican Media/ReutersThe different responses point to the challenge facing Pope Francis and the Vatican as it seeks to navigate the second Trump presidency. Robert Nickelsberg/Getty ImagesTrump and Francis divided on key issuesNevertheless, Trump and Pope Francis’ visions couldn’t be further apart. While Trump proposes mass deportations of migrants, Francis describes driving migrants away as a “grave sin” and their exclusion “criminal”. While the Biden administration and the pope had their differences, Francis and the Catholic president had a warm relationship.
Persons: Donald Trump’s, Timothy Broglio, Broglio, Pope Francis, Cardinal Pietro Parolin, Trump, Parolin, , Volodymyr Zelensky, State Cardinal Pietro Parolin, Simone Risoluti, Francis, Kamala Harris, Joe Biden, Robert Nickelsberg, Pope Francis ’, couldn’t, Pope, Mike Pompeo, Fr, James Martin, Jose Luis Gonzalez, Harris, , JD Vance, ” Mary Jo McConahay, , McConahay, Reagan, Martin, John Paul II, Benedict XVI, ” Martin, Donald Trump, Melania, Alessandra Tarantino, ” McConahay, Francis ’, ” David Gibson, Gibson, It’s, Antony Blinken, Biden, Blinken Organizations: CNN, Catholic Church, United States Catholic Bishops ’, Word Television Network, Trump, Catholic, State, Vatican Media, Franciscan Friars, “ America, Reuters, Catholic Bishops, autocrats, Washington DC, Francis, Los, Religion, Culture, Fordham University Locations: Michigan, Pennsylvania, Arizona, Wisconsin, New York City, China, Vatican, Beijing, Ukraine, Mexico, Ciudad Juarez, Trump, Central America, Los Angeles, Fordham University , New York
Brandon Bell | Getty Images News | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineEven before Trump enters the White House, investors are already living in his world. Upon Trump's election win, the so-called "Trump trade" has flourished, with risk assets in general on an upward trajectory. Posturing or not, it's likely Trump's proposed policies will sway the markets in the foreseeable future.
Persons: Donald Trump, Brandon Bell, Trump, Scott Bessent, Goldman Sachs's, Jan Hatzius, Gregory Daco, Jamie Cox, , Sarah Min, Alex Harring, Samantha Subin Organizations: GM STLA, SpaceX, Getty, CNBC, House, Trump, Mexico —, UBS, GM, Ford, Dow Jones, Nasdaq, Harris Financial Locations: Brownsville , Texas, Mexico, Canada, EY, U.S
The White House is in touch with federal law enforcement and the President-elect’s team, and continues to monitor the situation closely. A federal law enforcement source said none of those targeted were protectees of the US Secret Service. “Anytime a Member of Congress is the victim of a ‘swatting’ incident, we work closely with our local and federal law enforcement partners. Lee Zeldin, Trump’s pick to lead the Environmental Protection Agency, posted on X about a pipe bomb threat targeting his home. “A pipe bomb threat targeting me and my family at our home today was sent in with a pro-Palestinian themed message.
Persons: Vance, Donald Trump’s, , , ” Karoline Leavitt, Trump, , Joe Biden, ” “, Jack Smith, Tanya Chutkan, Elise Stefanik, Lee Zeldin, Brooke Rollins Organizations: CNN, FBI, White, Service, Trump, New York, GOP, United Nations, U.S . Capitol Police, US Capitol Police, Environmental Protection Agency, Secret Service, Department of Homeland Security Locations: Saratoga County, Washington, York State, U.S
Trump administration officials are also expected to push for European allies and NATO to take on more of the cost-sharing burden for supporting Ukraine. He also vowed to end the war, sometimes even claiming he would stop the years-long conflict before taking office. Keith has led a distinguished Military and Business career, including serving in highly sensitive National Security roles in my first Administration. Ukraine was among a range of issues Waltz discussed with Biden’s national security adviser Jake Sullivan during a meeting last week. Shannon Stapleton/ReutersZelensky, who met with Trump in New York in September, told reporters in Budapest that “I believe that President Trump really wants a quick decision” to end the war.
Persons: Donald Trump’s, Mike Waltz, Keith Kellogg, Trump, ” Waltz, Fox, Riccardo Savi, Kamala Harris, Kellogg, , Keith, ” Trump, Germany Ric Grenell, Grenell, , Biden, Jake Sullivan, , Volodymyr Zelensky, ” Zelensky, Donald Trump, Shannon Stapleton, Reuters Zelensky, Sebastian Gorka, Vladimir Putin, ” Gorka, Zelensky Organizations: CNN, Trump, NATO, , Sheraton New York Times, Getty, Russia, Military, Business, Bloomberg, Republican, Ukraine's, Reuters, Ukraine, ” Trump, Times Radio, Patriot Locations: Russia, Ukraine, New York City, Moscow, Germany, Crimea, Budapest, U.S, New York, Russian
His first major global brouhaha since winning reelection posed the following questions that will help define the character of his second term. There’s no guarantee that Canada, Mexico and China will back down immediately. Trump’s trade war rhetoric is a reminder that in his worldview, the United States has few friends — only adversaries against whom it can choose to win or lose. The prime minister therefore has a huge incentive to avoid a trade war that could cause havoc in the Canadian economy. Initial reaction to Trump’s broadside against Canada and Mexico suggests that many observers see his outburst as a negotiating tactic.
Persons: Donald Trump, Trump, he’s, Pete, George W, Bush’s, , “ Trump, Elon Musk, Justin Trudeau, Claudia Sheinbaum, , Trudeau, Pierre Poilievre, Sen, Marco Rubio, Xi Jinping, , Gerry Connolly Organizations: CNN, Trump, Central ”, Elon, Conservative Party, Trade, North American Free Trade Locations: Canada, Mexico, China, United States, NATO, Russia, Ottawa, Canadian, Washington, Beijing, Europe, Ukraine
Ikea warns Trump’s tariffs could push up prices
  + stars: | 2024-11-27 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +4 min
“We have never experienced a period of benefit when we had high tariffs,” he said, referring both to Ikea and the global economy. We will need to understand and adapt.”On Monday, President-elect Trump promised massive hikes in tariffs on goods coming from Mexico, Canada and China. The bulk of Ikea’s goods — some 70% — are produced in Europe, with the remaining 30% made in Asia, mostly China. Last year, Ikea cut prices on roughly 2,000 products — at a cost of more than €2 billion ($2.1 billion) — to give inflation-weary consumers a break. Ikea's Frakta bag displayed in Munich during a celebration of the brand's 50th anniversary in Germany on October 17, 2024.
Persons: Donald Trump’s, ” Jesper Brodin, , Trump, Claudia Sheinbaum, Tom Madrecki, General Mills, Molson, Ikea’s Brodin, Hus, Johannes Simon Organizations: London CNN, Ingka, CNN, Ikea, Consumer Brands Association, Molson Coors, Oxford Locations: Mexico, Canada, China, United States, Europe, Asia, Munich, Germany, Wembley, Croydon, London
Donald Trump’s Immigration Plans
  + stars: | 2024-11-27 | by ( German Lopez | ) www.nytimes.com   time to read: +1 min
That’s about how many unauthorized immigrants Donald Trump hopes to remove from the country: 11 million people in all. The Morning is running a series on the policies that Trump and his congressional allies will try to implement next year. A huge operationWe already know the broad contours of Trump’s plan. He wants to use the military and law enforcement to detain the millions of people who are in the United States illegally. Finally, it will fly undocumented migrants to their home countries or other places that agree to take them.
Persons: Donald Trump, Trump Locations: Chicago, United States
In 2023, the US was South Korea’s second-largest export market after China, with $116 billion of goods traded. But Trump’s planned tariffs on Chinese goods could also benefit some countries in Southeast Asia as factories may relocate from China to other places in the region. Shoe seller Steve Madden announced earlier this month that it will halve its Chinese production to avoid Trump’s tariffs, and it will be sourcing from Cambodia, Vietnam, Mexico and Brazil, among other countries. In 2023, the US was the number one recipient of exports from China, Vietnam, Thailand, India and Japan. In the first nine months of 2024, the United States’ largest trade deficit was with China.
Persons: Donald Trump, Steve Madden, Trump, , Philip Daniele, — CNN’s Rachel Wilson Organizations: Hong Kong CNN —, Malaysia, US Locations: Hong Kong, Mexico, Canada, China, United States, Asia, South, Southeast Asia, Cambodia, Vietnam, Brazil, Thailand, India, Japan, South Korea, Indonesia, Singapore
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On Tuesday, Trump’s transition team signed an agreement with the White House after months of postponing the traditional transition process – a delay that Biden officials warned could undermine an orderly transfer of power and pose national security risks. In a statement announcing the agreement, the Trump transition said it will use its own security and information systems, its own office spaces and maintain its own ethics plan. The transition team said its ethics plan will be posted online in compliance with federal law. Several of Trump’s picks have vast personal fortunes and deep ties to the private sector. Trump’s transition team has so far relied instead on internal vetting.
Persons: Donald Trump’s, Trump, , Matt Gaetz, Department of Justice – Trump, Pam Bondi, Joe Biden, , Brian Ballard, , ” Ballard, Gaetz, Pete Hegseth, Linda McMahon, Hegseth, McMahon, Howard Lutnick, Scott Bessent, – Lutnick, Florida Sen, Marco Rubio, Tulsi Gabbard, Robert F, Kennedy Jr, Kennedy, – Mehmet Oz, Janette Nesheiwat, Marty Makary, Sen, Markwayne Mullin, he’s, ” Sen, Peter Welch, Karoline Leavitt, Trump’s, untangle, Donald Trump Jr, Eric Trump, Bill Hagerty, Nick Iarossi —, , ” Iarossi, CNN’s Betsy Klein, Lauren Fox Organizations: CNN, Trump, Republican, Washington, Florida Rep, Department of Justice, Sunshine, Republicans, Mar, GOP, Senate, Senate Republicans, Fox News, Department of Education, Department of Commerce, Bessent, Hawaii Rep, Medicare, Drug Administration, Oklahoma Republican, Vermont Democrat, America, White, Biden, General Services Administration, FBI, Gabbard, Locations: Manhattan, Palm Beach, New York, Washington ,, Washington, Trump, Ukraine, Oklahoma, Vermont, Mexico, Canada, China, Florida
But if Mr. Kennedy is confirmed to lead the Department of Health and Human Services, several of his key priorities may run counter to those of an administration with a game plan bent on deregulation. Mr. Trump’s choice for White House chief of staff, Susie Wiles, comes from a lobbying firm that represented the very industries that Mr. Kennedy hopes to disrupt. When it comes to tearing down corporate capture among the giants — Big Pharma, Big Ag, Big Food, among others — Mr. Kennedy’s ideas echo those of some of the incoming Trump administration’s loudest critics. Michelle ObamaMr. Kennedy, who recently criticized Mr. Trump’s penchant for fast food, has been clear about his plans to go after ultra-processed foods that contribute to the growing rates of diabetes and obesity in the United States. Those goals sound familiar to anyone who lived through the Obama administration, when Michelle Obama started the Let’s Move!
Persons: Donald J, Trump, Robert F, Kennedy Jr, Kennedy, Susie Wiles, Michelle Obama Mr, Obama, Michelle Obama Organizations: Department of Health, Human Services, White House, Democratic Party, — Big Pharma, Big, Food, Trump Locations: United States
The tariffs might also violate the very trade agreement Trump negotiated with Mexico and Canada during his first term. This is not what the Constitution envisionedAfter all, the Constitution specifically gives Congress, not the president, the power to “regulate Commerce with foreign Nations.”How does Trump have the power to impose tariffs without any input from Congress? It’s pretty much the opposite of what’s in the Constitution, and it didn’t happen right away. In 1934, they passed the Reciprocal Trade Agreements Act, which gave the president power to lower import duties for countries with which the US had trade agreements. In the 1970s, Congress gave the president new trade promotion authority power to negotiate trade agreements and then have Congress ratify them without amendment.
Persons: CNN —, Donald Trump’s, Trump, Doug Irwin, ” Smoot, Hawley, Sen, Reed Smoot, Willis Hawley, Smoot, Franklin D, Roosevelt, Irwin, it’s, Barack Obama, Joe Biden, Trump’s, Qilai Shen, ” Irwin, ’ Trump’s, CNN’s Priscilla Alvarez, , Alvarez, Claudia Sheinbaum, Organizations: CNN, Trump, Nations, Dartmouth College, Democratic, Trump’s Commerce Department, GOP, Congress, Workers, Bloomberg, Getty Locations: Canada, Mexico, China, what’s, Utah, Willis Hawley of Oregon, Europe, Pacific, Shanghai
— As President-elect Donald Trump’s incoming administration solidifies its plan for mass deportations, local law enforcement agencies are preparing to ramp up a controversial program that allows them to partner with Immigration and Customs Enforcement. It authorizes ICE to delegate to state and local law enforcement officers the ability to perform certain functions of an immigration officer. According to ICE, as of May 2024, law enforcement agencies in 21 states participated in the program. Other critics have also said the 287(g) program merely serves as a political messaging tool for conservative sheriffs. Earlier this month, the Los Angeles City Council passed an ordinance that prohibits the use of city resources in immigration enforcement.
Persons: BEL, Donald, Tom Homan, , “ We’re, ” Homan, Trump’s, , Bill Clinton, Jeffrey Gahler, ’ ” Gahler, they’re, — they’re, they’ve, Rachel Morin, Victor Martinez Hernandez, he’s, Patty Morin, Samuel Page, Page, Joe Biden’s, Biden, ” Page, Todd Shulte, Jason Houser, Mike Johnston, he’d, Harris, Trump, Karoline Leavitt, Christopher Crespo Organizations: BEL AIR, Immigration, Customs Enforcement, ICE, NBC News, ICE detainers, Democrats, American Civil Liberties Union, ACLU, Los Angeles City Council, Trump, Denver, Locations: Md, , Texas, Harford County , Maryland, El Salvador, Maryland, Rockingham County , North Carolina, It’s, Mecklenburg County, America, Trump’s, Massachusetts
In today’s edition, two of our Capitol Hill experts, Sahil Kapur and Frank Thorp V, break down the key senators to watch in the confirmation battles over Donald Trump's Cabinet. Plus, national political correspondent Steve Kornacki takes a break from election data to dive into the polling around what Americans plan to serve at Thanksgiving this year. Programming note: From the Politics Desk is taking a holiday break the rest of the week. Trump’s Cabinet picks present an opening for Collins to further demonstrate her independent streak if she chooses to vote against some of Trump’s more controversial picks. The Cabinet nominees could be an opportunity for him to flex his muscle and use his vote to shape Trump’s agenda.
Persons: Sahil Kapur, Frank Thorp V, Donald Trump's, Steve Kornacki, We’ll, Frank Thorp, Donald Trump, JD Vance, Sen, Susan Collins, Trump, Trump’s, Collins, Lisa Murkowski, Matt Gaetz, Wade, Mitch McConnell, McConnell, Thom Tillis, Tillis, John Fetterman, Fetterman, , that’s, John Thune, Bill Cassidy, John Curtis, Jon Ossoff, Frank →, , ina, guration in, e, roa, uli Organizations: NBC, White House, Capitol, Trump’s, Trump’s Cabinet, Cabinet, Republican, GOP Locations: Maine, Alaska, Roe, Israel, Gaza, Utah, Sahil, Turkey
That means buyers can combine existing tax credits with the deep discounts on offer over the next three months. Hours after Newsom announced his proposal Monday, Bloomberg News reported that his office planned to exclude Teslas from any state rebate program, citing an idea to limit the proposed aid based on automakers’ EV market shares. The current federal tax credit also applies to leases, and some dealerships are exploiting a loophole that allows EV lessees to qualify for the full $7,500 credit without meeting income or manufacturer requirements. In a recent Edmunds analysis of mid-priced vehicles leased this year, the average monthly payment for EVs when factoring in tax credits was $428, far lower than the $572 for vehicles with gas engines. “If the tax credit goes away and it’s a significant amount that’s being utilized by dealers, you’ll have them rather upset for a while,” Drury said.
Persons: Donald Trump, EVs, , Jay Turner, Gavin Newsom’s, Turner, Biden, “ We’re, ” Newsom, Trump, he’d, Karoline Leavitt, Ivan Drury, ” Drury, who’s, Drury, I’d, ” Turner, Elon Musk, Trump’s, Musk, Tesla, Newsom, “ It’s, you’re, ” Buyers Organizations: Wellesley College, Republican, White House, Trump, Cox Automotive, U.S, Congress, Trump White, “ Department, Government, Bloomberg News, ’ EV, NBC News, EV lessees, Locations: California, Colorado and Massachusetts, Edmunds, China, Mexico, Canada, U.S
And former racing champ Mario Andretti shares early ideas for his new Formula 1 team. The much-anticipated decision comes after a yearlong saga marked by drama and bitter tensions between F1 and Andretti Global, led by former world champion Mario Andretti. Sahil Kapur, an NBC News senior politics reporter and F1 enthusiast, spoke exclusively to Mario Andretti about his ambitions for the new team. The one thing Mario, America’s last former F1 champion, hasn’t done is build an F1 team. Read more about Sahil’s exclusive interview with Mario Andretti.
Persons: Donald Trump’s, Roe, Wade, Mario Andretti, Donald Trump, Matt Gaetz, Gaetz, Tulsi Gabbard, Trump, Pete Hegseth, Robert F, Kennedy Jr, They’ll, JD Vance, ’ outspokenness, Sen, Susan Collins, John Thune of, Mitch McConnell, Xinyue Chen, Aria Bendix, Mario Andretti’s, Gary Mook, Sahil Kapur, 🏎️, rama, astation in Organizations: Republicans, Justice Department, Senate Republicans, Senators, Republican, Trump, NBC, Guttmacher Institute, Indianapolis, Indianapolis Star, USA, GM, Cadillac, Andretti Global, NBC News Locations: Washington, Russia, Maine, John Thune of South Dakota, U.S, Illinois, Dutch
Abortion providers, meanwhile, got an influx of funding that enabled them to set up new clinics and extend hours in states where abortion is still legal. Abortion pills are a target for anti-abortion activists, who hope the incoming administration might revoke provisions that allow the medications to be prescribed via telehealth and mailed nationwide. In 1999, Gomperts founded an organization that transported women from places with restrictions to a ship in international waters to obtain abortions. In 2016, the agency enabled mifepristone — one of the two pills used in medication abortions — to be used up to 10 weeks’ gestation instead of seven. By last year, medication abortions accounted for 63% of abortions nationwide, up from 53% in 2020, according to the Guttmacher Institute.
Persons: Dobbs, , Rebecca Gomperts, Serra Sippel, Donald Trump’s, Karoline Leavitt, Vance, Trump, , Randall O’Bannon, Gomperts, ” Gomperts, they’re, Dr, Elise Wrabetz, mifepristone Organizations: Food and Drug Administration, Jackson, Health Organization, Brigid Alliance, Trump, NBC News, , NBC, FDA, Guttmacher Institute Locations: Dobbs v, Dutch, Netherlands, New York City, Austria, New York
Here are nine key senators to watch in the nomination battles. The incoming majority leader is nobody’s idea of an ultra-MAGA Republican, but he understands his assignment: advance the Trump agenda. Does he choose to be a heat shield for members who quietly want to buck Trump without doing so publicly? The answers will set the tone for a long-awaited new era facing the Senate GOP. Sen. Mitch McConnell, R-Ky.McConnell is the ultimate free agent as he relinquishes the job of Senate Republican leader after a record 18 years.
Persons: Donald Trump, Matt Gaetz, JD Vance, Sen, Susan Collins, Trump, Collins, Lisa Murkowski, Murkowski, Trump’s, That’s Lisa Murkowski’s, Wade, John Thune, Mitch McConnell, Ky, McConnell, Will McConnell, MAGA, He's, Gaetz, Tulsi Gabbard, Thom Tillis, Tillis, won’t, Bill Cassidy, Cassidy, Robert F, Kennedy Jr, , John Curtis, Mitt Romney, Curtis, Utah GOP Sen, Mike Lee, He’s, , Carlos Curbelo, “ I’m, ” Curtis, Will Curtis, Romney, John Fetterman, Fetterman, , that’s, Mehmet Oz, “ He’s, they’re, I’m, ” Sen, Jon Ossoff, He’ll Organizations: WASHINGTON, Republican, Republicans, Trump, Democratic, Collins, MAGA Republican, GOP, AG, NATO, Health, Education, Labor, Pensions, Human Services, Utah GOP, NBC News, Capitol, NBC Locations: Maine, Alaska, Roe, Russia, Trump's, North Carolina, Utah, R, Florida, Trump, Israel, Gaza, Georgia
Trump Selects Jamieson Greer as Trade Representative
  + stars: | 2024-11-26 | by ( Ana Swanson | ) www.nytimes.com   time to read: +1 min
President-elect Donald J. Trump on Tuesday picked Jamieson Greer, a lawyer and former Trump official, to serve as his top trade negotiator. Mr. Greer is a partner in international trade at the law firm King & Spalding. During Mr. Trump’s first term, Mr. Greer served as chief of staff to Robert E. Lighthizer, the trade representative at the time. Before that, Mr. Greer served in the Air Force, where he was a lawyer who prosecuted and defended U.S. airmen in criminal investigations. “Jamieson will focus the Office of the U.S. Trade Representative on reining in the Country’s massive Trade Deficit, defending American Manufacturing, Agriculture, and Services, and opening up Export Markets everywhere,” Mr. Trump said.
Persons: Donald J, Trump, Jamieson Greer, Trump’s, Greer, Robert E, “ Jamieson, Mr Organizations: Trump, King, Spalding, North American Free, Air Force, U.S . Trade, reining, Manufacturing, Agriculture, Services Locations: China, Canada, Mexico, Iraq
President-elect Donald Trump's vow to implement additional tariffs on China, Canada and Mexico on day one of his presidency signals the start of a wild ride in currency markets, strategists say, warning it would be risky for investors to underestimate the impact on foreign exchange rates. The announcements prompted a knee-jerk reaction in currency markets, with the U.S. dollar rising more than 2% against the Mexican peso and notching a four-year high against the Canadian dollar . "I think the first reaction here is that investors should get ready for a wild ride in FX volatility," said Kamakshya Trivedi, head of global foreign exchange, interest rates and emerging markets strategy research at Goldman Sachs . The index closed 0.6% lower in the previous session as investors welcomed hedge fund manager Scott Bessent as Trump's pick for U.S. Treasury chief. "This is going to be something that we are all going to have to get used to.
Persons: Donald Trump's, Trump, Kamakshya Trivedi, Goldman Sachs, Scott Bessent, Trivedi, CNBC's Organizations: U.S, Canadian, Goldman, The U.S, Treasury Locations: China, Canada, Mexico
Donald Trump ran on the promise of steep government budget cuts, and some industry experts believe money flowing toward HUD could be on the chopping block. The housing agency provides rental assistance for low-income households, administers mortgage insurance to prospective homeowners and enforces fair housing law. During Trump’s first term, his office repeatedly sought to make steep cuts to HUD’s budget, though they never passed Congress. If Trump successfully implements budget cuts “there will be longer waiting lists for housing vouchers. Liz Osborn, the vice president of policy at Enterprise Community Partners, a nonprofit focused on home access and affordability, said that HUD budget cuts in Trump’s second term aren’t a guarantee, though.
Persons: Scott Turner, Donald Trump, , Bob Greenstein, Turner, Ben Carson, Trump’s, Carl Harris, ” Harris, Bob Broeksmit, Broeksmit, Trump, Ginnie Mae, ” Broeksmit, Elon Musk, Vivek Ramaswamy, that’s, Howard Husock, Biden, ” Husock, Husock, Liz Osborn, , ” Osborn, ” Turner, ” Trump, JPMorgan Chase Organizations: CNN, Department of Housing, Urban Development, Brookings Institution, NFL, National Association of Home Builders, HUD, Mortgage Bankers Association, Federal Housing Administration, “ Department, Government, American Enterprise Institute, Enterprise Community Partners, White, Economic, Scott’s, Urban Institute, JPMorgan Locations: America, Trump’s
Beijing has a powerful tool for responding to President-elect Donald J. Trump’s threatened new tariffs on Chinese goods: It could start a currency war, a step that poses formidable risks for China as well as the United States. Letting China’s currency, the renminbi, lose value against the dollar would be a tried and true answer to tariffs. A cheaper renminbi would make Chinese exports less expensive for overseas buyers, mitigating the harm to China’s competitiveness from Mr. Trump’s tariffs. A strategic devaluation of China’s currency, which is tightly controlled by the country’s central bank, could allow Beijing to supercharge its powerful export machine. China is poised for further gains, as its banks step up lending to build new factories.
Persons: Donald J, Trump’s, Trump Locations: Beijing, China, United States, Canada, Mexico
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