The recordings - nearly 10 minutes in total - provide an unvarnished look at how Cruz is positioning himself as a traditional free trade, pro-interventionist Republican ahead of a possible 2028 primary campaign against the less hawkish Vance. Zoom in: During his talks, Cruz cast Vance as a pawn of conservative podcaster Tucker Carlson. Cruz has accused Carlson of promoting antisemitism and an anti-Israel foreign policy in their well-publicized spats.
Over the weekend, he had also threatened to lift the tariffs to 25% from 1 June. The threat had prompted widespread apprehension; criticism from senior European politicians, who declared they will not allow ourselves to be blackmailed; and warnings from economists. European Union leaders had threatened to deploy the bloc's so-called anti-coercion instrument (ACI), otherwise known as the trade bazooka, which would have allowed the EU to retaliate in defense of coercion measures through extraordinary trade sanctions.
France is a great trading nation. France is the world's sixth largest food exporter. Why are French farmers and French politicians so viscerally hostile to trade? French farmers get over 9 billion a year in subsidies from Brussels, more than any other country. And yet they oppose any EU trade agreement which would help other industries but might provide limited competition to farmers.
President Donald Trump said on Monday that countries that do business with Iran will face a new 25% tariff. The announcement appears to mean goods from China, a major trading partner of both Iran and the United States, would become significantly more expensive to import. "Effective immediately, any Country doing business with the Islamic Republic of Iran will pay a Tariff of 25% on any and all business being done with the United States of America," Trump wrote on Truth Social on Monday. "This Order is final and conclusive," he added.
The biggest macro factor for DRIV isn't consumer demand or battery costs. It's trade policy: tariffs and industrial incentives that determine where EVs get built and sold. DRIV holds $340 million in assets split between US tech giants and global automakers. When tariff threats emerge or federal EV tax credits shift, the fund's diverse holdings react differently. Watch for announcements from the Office of the US Trade Representative on Chinese EV and battery component tariffs. These typically surface quarterly or around major trade negotiations.
There's great news for home chefs who prefer imported Italian pasta over American brands. Amid concerns that tariffs could kick favorite Italian pasta brands out of grocery stores, the United States has reversed course after completing an initial review of the alleged U.S. pricing practices of 13 Italian pasta brands. Higher pasta tariffs were initially passed by Congress in September, with the U.S. imposing a 92% anti-dumping duty on top of the existing 15% tariff on products imported from the EU, citing concerns that Italian pasta prices were too low.
A tariff is a tax paid by consumers, and if there's one thing the past four years have taught us, it's that the public will not forgive a politician who presides over a period of rising prices, no matter what the cause. Luckily for the political fortunes of the world's leaders, there is a better way to respond to tariffs. Tit-for-tat tariffs are a 19th-century tactic, and we live in a 21st-century world
The Notice is the result of an investigation into China's semiconductor industry that the Biden administration commenced in December 2024, and which focused on "foundational semiconductors (also known as legacy or mature node semiconductors), including to the extent that they are incorporated as components into downstream products for critical industries like defense, automotive, medical devices, aerospace, telecommunications, and power generation and the electrical grid."
Around the world, CBAM has faced strong criticism. India and China describe it as "green protectionism," arguing that it puts unfair pressure on developing economies. At the same time, the EU has not yet created dedicated funding to help exporters in lower-income countries adapt. Without this support, the mechanism may not achieve the desired results. What about consumers? Although CBAM is mainly aimed at industry, its ripple effects will reach consumers in the EU.
Federal data belatedly released Tuesday shows that the US unemployment rate rose to the highest level in four years last month as President Donald Trump's administration continues its assault on the government's workforce and American corporations lay off workers at a level not seen in decades.
I began the year with a blunt reality check: leadership today is forged in public, under pressure, and in real time. With Donald Trump already installed as US president for his second term, markets have moved faster than at any point in my career, reacting not to speculation but to executive action, rhetoric, and resolve. The first lesson this year has burned itself into my thinking: certainty beats comfort.
Donald Trump has cleared the way for Nvidia to begin selling its powerful AI computer chips to China, marking a win for the chip maker and its CEO Jensen Huang, who has spent months lobbying the White House to open up sales in the country. Before Monday's announcement, the US had prohibited sales of Nvidia's most advanced chips to China over national security concerns.
N early seven months after an election that returned a minority Parliament and a government led by the Liberal Party with Prime Minister Mark Carney at the helm, Canadians would be forgiven for asking what they're meant to be doing with their elbows. During the election, the Liberals ran on elbows-up nationalism, striking a defiant posture in the face of tariff and sovereignty threats from United States president Donald Trump. Carney never promised to solve
