Federal judge issues ruling as Trump admin seeks another tool in illegal alien crackdown
A federal judge on Monday denied an injunction request to prevent the Department of Homeland Security and Internal Revenue Service from partnering to permit U.S. Customs and Immigration Enforcement (ICE) to access taxpayer information to locate illegal immigrants subject to deportation.
The order by U.S. District Judge Dabney Friedrich came amid a lawsuit by Centro de Trabajadores Unidos and other immigrant-rights groups against Treasury Secretary Scott Bessent.
“Plaintiffs Centro de Trabajadores Unidos, Immigrant Solidarity DuPage, Somos Un Pueblo Unido, and Inclusive Action for the City bring this action seeking declaratory and injunctive relief to prevent the Internal Revenue Service (IRS) from sharing personal tax information with the Department of Homeland Security (DHS) for immigration enforcement purposes. Before the Court is the plaintiffs’ Motion for Preliminary Injunction, Dkt. 28. For the reasons that follow, the Court will deny the motion.”
“At its core, this case presents a narrow legal issue: Does the Memorandum of Understanding between the IRS and DHS violate the Internal Revenue Code? It does not,” the order continued.
JUSTICE DEPARTMENT TELLS FEDERAL JUDGE IT MIGHT INVOKE STATE SECRETS ACT ON HIGH-PROFILE DEPORTATION CASE
Nonprofits Centro de Trabajadores Unidos and Immigrant Solidarity DuPage, representing immigrant workers in the Chicago area, brought the lawsuit against Secretary of the Treasury Scott Bessent, the IRS, and Commissioner of Internal Revenue Melanie Krause, seeking to block the disclosure of personal information of taxpayers and other confidential tax records to the Department of Homeland Security (DHS) for immigration enforcement purposes.
In a statement to Fox News Digital, Tricia McLaughlin, the DHS assistant secretary of public affairs, said information shirring across all federal agencies to identify illegal immigrants is essential in order to “determine what public safety and terror threats may exist so we can neutralize them, scrub these individuals from voter rolls, as well as identify what public benefits these aliens are using at taxpayer expense.”
“Under President Trump’s leadership, the government is finally doing what it should have all along—sharing information across the federal government to solve problems,” she said. “Biden not only allowed millions of illegal aliens—including gang members, suspected terrorists, and violent criminals—to flood into our country, but he also lost them due to incompetence and improper processing.”
“Information sharing across agencies is essential to identify who is in our country and determine what public safety and terror threats may exist so we can neutralize them, scrub these individuals from voter rolls, as well as identify what public benefits these aliens are using at taxpayer expense.
“Today’s ruling is a victory for the American people and for commonsense.”
An earlier memorandum of understanding between DHS and the IRS outlines a process to ensure that sensitive taxpayer data information is protected while allowing law enforcement to pursue criminal violations, a senior Treasury Department official said at the time the deal was reached in April.
The deal allows DHS to ask the IRS to confirm the home addresses of illegal immigrants suspected of violating deportation orders. The IRS can share data to aid criminal investigations but is prohibited from sharing information related to civil matters, such as facilitating deportations.
The Treasury Department is committed to protecting the privacy of law-abiding taxpayers, but a criminal exception obligates the agency to assist law enforcement, the official told Fox News Digital at the time.
Fox News Digital has reached out to the IRS, DHS and the legal team for the groups involved in the lawsuit.
The deal would allow ICE to submit the names and addresses of illegal immigrants to the IRS, who could then cross-check those immigrants’ tax records and provide the immigration agency with current address information.
“The Court agrees that requesting and receiving information for civil enforcement purposes would constitute a cognizable injury, but none of the organizations have established that such an injury is imminent,” Friedrich wrote. “As the plaintiffs acknowledge, the Memorandum only allows sharing information for criminal investigations.”
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As the Memorandum provides, its purpose is to establish procedures enabling “requests for addresses of persons subject to criminal investigation,” the order said.
The agreement comes as President Donald Trump has continued to ramp up the deportation effort he promised on the campaign trail.
Retired officer suing after he’s arrested for social media post warning about growing danger
A retired police officer in the United Kingdom is reportedly taking legal action after he was arrested over a social media post warning about the rising threat of antisemitism in the UK following the October 7, 2023, Hamas attacks against Israel.
Julian Foulkes, a 71-year-old retired special constable from Kent, England, was arrested in November 2023 and had his home searched after one of his posts on X was reported to law enforcement, according to the Daily Mail.
Foulkes reportedly grew concerned as anti-Israel protests swept across London and other major European cities in the weeks following the October 7 attacks. In a post on X that month, he warned about escalating antisemitism after rioters stormed a Russian airport searching for arrivals from Tel Aviv.
“One step away from storming Heathrow looking for Jewish arrivals…” he posted in a reply to a pro-Palestinian activist’s post.
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Foulkes told the Mail that he was “shocked and flabbergasted” after Kent Police officers arrived at his door later to search his home.
According to bodycam footage reviewed by The Telegraph, an officer raised concerns about the books he was reading, including those by British author and commentator Douglas Murray, commenting that his bookshelf contained “very Brexit-y things.”
Police also reportedly raised concerns about a shopping list from his wife, a hairdresser, which included items like bleach, tin foil and gloves.
Police seized his electronic devices and detained Foulkes for eight hours before issuing him a caution — a formal warning given to a person who admits to an offense to avoid prosecution.
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Foulkes said he accepted the caution out of fear that he would be kept from visiting his only surviving daughter, who lives in Australia.
He compared the ordeal to being targeted for a “thought crime.”
“This is absolutely an Orwellian-style thought crime. It’s absolutely ridiculous because I sent a tweet which was reasonable in the circumstances and it was a tweet based on events I’d read about just the previous day and in the previous week,” he told the Mail.
“It was taken out of context and I really can’t go through all the failings of Kent police – as much as I’d like to – but it’s been quite astonishing to me especially as I served with them for 10 years,” he added.
The Kent Police issued an apology to Foulkes on Monday, saying they had made a mistake and that his record had been cleared.
FORMER MUMFORD AND SONS MUSICIAN ASKS WHITE HOUSE IF BRITS PUNISHED OVER FREE SPEECH CAN SEEK ASYLUM IN US
“On 2 November 2023 a report was made to Kent Police about a social media post that was alleged to have been offensive, and Mr Foulkes was arrested on the same day,” the statement shared with Fox News Digital read.
“Although he was offered and accepted an unconditional caution following his own independent legal advice, a subsequent review of the case by the force concluded that the caution was not appropriate in the circumstances and should not have been issued.”
“Kent Police apologizes to Mr Foulkes for the distress caused and how the report was investigated. We have expunged the caution from his record and are pleased to facilitate this correction. Mr Foulkes has been informed of the decision and a further review of the matter will now be carried out to identify any learning opportunities,” the statement continued.
JD VANCE SPARS WITH BRITISH PRIME MINISTER OVER FREE SPEECH CENSORSHIP DURING OVAL OFFICE MEETING
Foulkes says he has sought legal help and plans to sue the police force for wrongful arrest.
The Free Speech Union is raising money to cover the costs of his legal fight.
Concerns about free speech being under threat in the UK have drawn the attention of U.S. leaders like Vice President JD Vance.
In a speech to European leaders in February, Vance warned that Europe appeared to be retreating from some of its fundamental values it shares with the U.S. and adopting “Soviet-era” censorship.
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British commentator and former Mumford and Sons guitarist Winston Marshall recently appeared at a White House briefing to ask the Trump administration if they would consider giving political asylum to Brits who faced prosecution for posting “hate speech” online.
Popular 90s band completely cancels tour after medical emergency during sound check
Alice in Chains has canceled their tour after receiving unfortunate medical news.
The band announced their decision to call off their highly anticipated upcoming tour on social media on Saturday, due to the medical advice they received regarding drummer Sean Kinney’s health.
“After careful consideration and following the advice of medical professionals, we have made the decision to cancel our remaining upcoming festival performances and the Alice in Chains headline shows,” the band’s statement read. “While we were all eager to return to the stage, Sean’s health is our top priority at this moment.”
The statement didn’t specify Kinney’s exact diagnosis, sharing only that “the issue requires immediate attention” and that “his long-term prognosis is positive.”
FORMER ALICE IN CHAINS BASSIST MIKE STARR DEAD AT 44
They ended the statement by expressing their sincere appreciation for their fans’ “understanding and support during this time.”
Fans of the popular rock band were quick to flood the comment section on Instagram with well-wishes for Kinney, while also praising the band for putting his health ahead of the tour.
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“Get well Sean! The stage will still be there when you’re better and so will the fans,” one follower wrote in the comments section.
Another added, “Love to see a band that respects it’s members enough to put the most important things first. Respect. Best wishes to Sean.”
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News of the cancellation comes shortly after the band canceled their concert at the Mohegan Sun Arena in Montville, Connecticut on May 8, after Kinney “experienced a non-life-threatening medical emergency” during the soundcheck.
Had the group not canceled the show in Connecticut, it would have been the first time they performed on stage together in over a year, as their last show together was at the Sick New World festival in Las Vegas in April 2024.
In addition to canceling their tour, they also canceled upcoming performances in Nashville and Atlanta, as well as appearances at various music festivals, including MMR*B*Q, Sonic Temple and Welcome to Rockville. As of now, their only scheduled performance is during Black Sabbath’s final concert in the United Kingdom in July, according to the band’s website.
Alice in Chains was formed in Seattle in 1987, with Kinney playing the drums alongside bandmates Jerry Cantrell, Mike Starr and Layne Staley. Current band members, Mike Inez and William DuVall joined later, taking the place of Starr and Staley.
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Throughout their time as a band, they have sold over 30 million records worldwide, received 11 Grammy nominations and were ranked number 34 on VH1’s “100 Greatest Artists of Hard Rock” special.
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The well-preserved body of an early modern saint was put on display in Spain on Sunday, months after she was discovered “miraculously incorrupt” last year.
St. Teresa of Jesus, also called St. Teresa of Avila, was a Discalced Carmelite nun who was born in 1515 and died in 1582. This weekend, her body was put on public display in Alba de Tormes, Spain, for the first time since 1914.
Pictures show Catholics visibly taken aback by the display, which was part of the opening ceremony of public veneration, on Sunday.
DOZENS OF ANCIENT SKELETONS FOUND IN HEART OF BUSTLING CITY: ‘HARD TO IMAGINE’
Observers were seen covering their mouths, crying and praying at the sight of the Spanish saint.
The body of St. Teresa was dressed in a nun’s habit during the showing. Though the remains appeared mostly skeletal, certain areas appeared extremely well-preserved, including her foot.
In September, officials from the Diocese of Avila opened St. Teresa’s tomb and reported that she appeared exactly the same as when her tomb was first exhumed in 1914.
“The uncovered parts, which are the face and foot, are the same as they were in 1914,” Fr. Marco Chiesa said at the time.
EXPERTS SHOCKED BY ANCIENT KING ARTHUR MANUSCRIPT FOUND TUCKED INSIDE BOOK: ‘SURVIVED THE CENTURIES’
“There is no color, there is no skin color, because the skin is mummified, but it is seen, especially in the middle of the face.”
He added, “[It] looks good. Expert doctors see Teresa’s face almost clearly.”
Researchers were also able to uncover insight into the female saint’s medical history, as she had suffered from chronic pain that eventually rendered her immobile.
Chiesa found calcareous spines, or heel spurs, that “made walking almost impossible” for St. Teresa.
The Catholic official said, “Sometimes, looking at a body, you discover more than the person had [spoken about].”
He added, “She walked [to] Alba de Tormes and then died, but her desire was to continue and move forward, despite the physical defects.”
In March, Spanish newspaper Salamanca RTV Al Día reported that the Discalced Carmelites received a 53-page preliminary analysis of the saint’s condition, which a professor described as “perfectly preserved.”
“The right foot, left hand, heart and left arm are perfectly preserved, with intact skin, subcutaneous tissues and muscles in place and no signs of degradation,” Italian anthropology professor Luigi Capasso said to the outlet.
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Preserved strands of brown hair were also reported by officials, though they appeared to be covered by the nun’s headdress on Sunday.
The saint also still retains one right eyelid and a dark iris, along with nasal tissue, according to Salamanca RTV Al Día.
Officials believe that St. Teresa remained in such extraordinary condition due to the dry atmosphere of her tomb.
Excessive moisture typically accelerates the decomposing process, and Capasso reported that he had taken care to “block any future degradation, mechanical or biological.”
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“This preservation, more than 400 years after her death, transmits a serenity that reflects how she faced her departure,” the professor said.
“It is a truly unique natural phenomenon.”
Woman goes viral after sitting next to the ‘nicest young man’ — doesn’t know he’s famous
A woman was given the surprise of a lifetime when Travis Hunter sat next to her on a plane – except she had no idea who Hunter even was.
Hunter, of course, is the two-way football star who turned his skills into a Heisman Trophy and became the second pick of the NFL Draft last month.
But, Hunter was on a United flight last week when he sat next to Sandy Hawkins Combs, who was flattered by Hunter.
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“I had the most wonderful flight home from Denver. I met the nicest young man who sat next to me. He offered to put my bag in the overhead compartment and helped me with my tray. He was always polite, saying ‘yes ma’am’ or ‘no ma’am.’ Anyone would be proud to have him as a son or grandson – so polite,” Combs said of Hunter in a Facebook post.
At this point, though, Combs still had no idea who this stranger was. But then, other passengers started noticing him.
BENGALS’ TREY HENDRICKSON RELEASES SCATHING STATEMENT AGAINST TEAM AS CONTRACT TALKS STALL
“People walking by were saying congratulations, great job, or even taking pictures. I turned and asked him, ‘Who am I sitting next to?’ I looked at his Jaguar pants, smiled, and asked, ‘Are you an athlete?’ He smiled and said, ‘I’m Travis. Yes, I was drafted by the Jags.’ I already told my sons I want his jersey,” Combs continued.
“He’s so humble and down-to-earth – I would have never guessed he was a professional athlete. JACKSONVILLE JAGS, you did good! I will be buying tickets. United Airlines, thank you for my seat assignment!”
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The Jaguars selected Hunter after trading up from No. 5. The Cleveland Browns originally held the second pick, and took on Jacksonville’s 2026 first-rounder in the process.
Monica Crowley confirmed by Senate to become ambassador for the Trump administration
Conservative author, media figure and former Treasury official Monica Crowley was confirmed late Monday to become assistant secretary of state and chief of protocol with the rank of ambassador.
Crowley, who was a longtime former Fox News contributor and foreign affairs analyst, previously served in the first Trump administration and received the Alexander Hamilton Award from the Treasury Department during that time.
“Monica will be the administration representative for major U.S. hosted events, including America’s 250th birthday in 2026, the FIFA World Cup in 2026, and the Olympic Games in Los Angeles in 2028,” President Donald Trump said in a December statement announcing her nomination.
Crowley holds a doctorate in international relations from Columbia University.
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The Arizona native grew up in New Jersey and began her career in former President Richard Nixon’s post-presidency, when she worked as a research assistant.
Her book, “Nixon Off the Record,” was published in the wake of that role.
She joined Fox News Channel in 1996 – the same year it hit the airwaves – and often appeared with host Sean Hannity on “Hannity” and its predecessor “Hannity & Colmes,” with the late Alan Colmes.
WHO IS THE DEMOCRATIC GUBERNATORIAL CANDIDATE ARRESTED FOR TRESPASSING AT ICE DETENTION CENTER?
She also starred in one episode of “House of Cards,” where she played herself – and also hosted the syndicated “Monica Crowley Show.”
She has received several other awards, including Woman of the Year in 2010 from the Clare Boothe Luce Center for Conservative Women.
During Trump’s first term, she backed out of a National Security Council role when allegations of plagiarism in her doctoral dissertation surfaced. Crowley rejected the claims as a “hit job.”
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The U.S. Travel Association lauded her nomination, saying that she will serve a “pivotal role” in the Trump administration.
“The speed with which this decision was made gives us great confidence that … Trump will seek to maximize the opportunities of the decade of sports and events that lies ahead,” said CEO Geoff Freeman.
“Landmark moments [she will be involved in planning] will attract millions of travelers to America and showcase the best of our great nation while creating a lasting benefit to our economy.”
‘The View’ co-host changes tune on new pope after learning about his ‘Black’ background
“The View” co-host Sunny Hostin revealed Monday she now “loves” Pope Leo XIV after discovering his “Black” background.
Hostin had previously expressed concerns about the new pontiff on Friday after his comments referencing the “homosexual lifestyle” resurfaced. On Monday, she spoke more optimistically about Pope Leo after learning his maternal grandparents were described as “people of color” on documents, with his grandfather’s original birthplace listed as Haiti.
“There’s one other thing that’s very interesting to me because President Trump, as you remember, called Haiti a certain type of country,” Hostin said. “As it turns out, our new American pope has Haitian and Black roots! So, we actually have a Black pope, apparently. It’s a chef’s kiss for me.”
After Pope Leo was announced on Thursday, Hostin said she was “concerned” about the LGBTQ community based on a statement he made in 2012 as a bishop where he described how pop culture had fostered “sympathy for beliefs and practices that are at odds with the gospel,” including the “homosexual lifestyle” and “alternative families comprised of same-sex partners and their adopted children.”
VATICAN GOES VIRAL: TIKTOKERS FASCINATED BY POPE ELECTION
Hostin on Monday said she was more encouraged by Pope Leo based on comments from 2023 which she thought showed he had completely changed his position.
“He said, you know, he believes what Pope Francis believed is that a church is a church for everyone. The church is very inclusive. So, I’m liking this guy a lot! I’m loving the pope,” Hostin said.
Her co-hosts Ana Navarro and Whoopi Goldberg also praised Pope Leo after he gave a speech earlier that morning voicing support for imprisoned journalists.
“He said he stands in solidarity with journalists who are imprisoned for reporting the truth and urged them to avoid ideological or partisan language. I like that. I’m digging him,” Goldberg said.
“I love that one of his first acts was to meet with journalists and defend the right of journalists to be journalists and uncover the truth,” Navarro added. “And I think it’s so timely that we have an American pope because we are going through things in this country, and it is good to show the world that not all American leaders are the same. It’s good to have an American that can denounce the things happening against immigrants here.”
NANCY PELOSI WANTS NEWLY ELECTED AMERICAN POPE LEO TO SPEAK OUT AGAINST MASS DEPORTATIONS
“And it’s good to have a Black pope,” Hostin chimed in.
She again touted that he is a “Black pope” when other co-hosts shared their excitement about Pope Leo.
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Markets send a clear message after Trump team’s China talks shock the system
| Symbol | Price | Change | %Change |
|---|---|---|---|
| I:DJI | $42,410.10 | 1,160.72 | 2.81 |
| SP500 | $5,844.19 | 184.28 | 3.26 |
| I:COMP | $18,708.34 | 779.43 | 4.35 |
Stocks surged on Monday after the U.S. and China agreed to roll back tariffs for a 90-day period.
The Dow Jones Industrial Average rose 1,160.72 points, or 2.81%, exiting correction territory. The S&P 500 climbed 3.26% and the Nasdaq Composite rose 4.35%, exiting bear market territory.
The tariffs President Donald Trump announced against China on April 2 are being cut by 24 percentage points for this temporary period while retaining the remaining ad valorem rate of 10% from that announcement, according to a joint statement.
China agreed to the same stipulations, adding that it will “adopt all necessary administrative measures to suspend or remove the non-tariff countermeasures taken against the United States since April 2,” the announcement stated.
Under the deal, reciprocal tariffs
for both countries would be reduced by 115%. The U.S. will temporarily lower its tariffs on Chinese goods from 145% to 30%, and China will reduce its levies on American products from 125% to 10%.
FOX Business Landon Mion contributed to this report
| Symbol | Price | Change | %Change |
|---|---|---|---|
| LLY | $734.57 | -16.88 | -2.25 |
| PFE | $22.28 | -0.26 | -1.15 |
| MRK | $75.97 | -1.68 | -2.16 |
| MRNA | $24.25 | -0.13 | -0.53 |
| NVO | $65.77 | 0.92 | 1.42 |
Pfizer, Merck, Eli Lilly and Novo Nordisk shares rallied after President Donald Trump announced his plan to lower prescription drug prices for American citizens by as much as 90%.
“”The United States will no longer subsidize the health care of foreign countries, which is what we are doing. We’re subsidizing others,” Trump said during a Monday press conference, explaining that countries were paying “a small fraction” of the price as the U.S. for the same drug” he said Monday.
Here is how the plan will work: READ HERE.
Trump, teased his announcement Sunday evening on Truth Social.
“I am pleased to announce that Tomorrow morning, in the White House, at 9:00 A.M., I will be signing one of the most consequential Executive Orders in our Country’s history. Prescription Drug and Pharmaceutical prices will be REDUCED, almost immediately, by 30% to 80%. They will rise throughout the World in order to equalize and, for the first time in many years, bring FAIRNESS TO AMERICA! I will be instituting a MOST FAVORED NATION’S POLICY whereby the United States will pay the same price as the Nation that pays the lowest price anywhere in the World. Our Country will finally be treated fairly, and our citizens” an excerpt of his Truth Social post explained.
Pharma stocks could be active on Monday.
President Donald Trump signed an executive order on Monday to encourage domestic prescription drug manufacturing and cut down on the time it takes to approve U.S. pharmaceutical plants.
Under the order, the Food and Drug Administration is directed to eliminate unnecessary requirements, streamline reviews and work with domestic drugmakers to provide early support before facilities come online.
The president also instructed the agency to increase inspection fees for foreign manufacturing plants, improve the enforcement of active-ingredient source reporting by foreign producers and consider publicly listing facilities that fail to comply.
This is an excerpt from an article by FOX Business’ Landon Mion
The Dow Jones Industrial Average is on pace to exit correction territory, up 10% from its April lows, if it closes 160.77 points higher.
Companies pacing Monday’s gains include Nike, Apple, Dow Chemical and Caterpillar. All of these do a large business with China. Coke, Travelers, Verizon and Walmart are lagging.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| I:DJI | $42,279.53 | 1,030.15 | 2.50 |
| NKE | $62.55 | 4.25 | 7.29 |
| AAPL | $209.72 | 11.45 | 5.77 |
| DOW | $31.54 | 2.06 | 6.98 |
| CAT | $342.65 | 17.03 | 5.23 |
| KO | $69.36 | -1.16 | -1.64 |
| TRV | $266.32 | -3.42 | -1.27 |
| VZ | $43.03 | -0.58 | -1.33 |
| WMT | $95.84 | -0.88 | -0.90 |
President Donald Trump will sign an executive order on Monday that will aim to lower prescription drug prices for American citizens who have been regularly “ripped off” by big pharmaceutical companies, White House press secretary Karoline Leavitt said.
Leavitt appeared on “Fox & Friends” Monday morning to discuss the move that Trump teased on social media on Sunday, saying that the executive order will have a positive impact on Americans.
“It cannot be overstated how big of a deal this executive order that President Trump will be signing in a couple of hours is for American families, especially our seniors, who have been ripped off by very large and rich pharmaceutical companies,” Leavitt said.
Trump wrote in his post that his administration would be implementing a “most favored nation’s policy” that will see the U.S. pay the same price as the nation that pays the lowest price for prescription drugs and pharmaceuticals to “bring FAIRNESS TO AMERICA!”
Leavitt said that Americans “pay an astronomical amount” compared to other countries, and the executive order will aim to “reduce the cost of drugs in this country by more than half at least.”
Trump wrote in his post that the executive order would almost immediately cut prescription drug and pharmaceutical prices by 30% to 80%.
President Donald Trump is leveraging the power of the American economy to open China to U.S. exporters as Washington and Beijing work toward a potential trade deal, Commerce Secretary Howard Lutnick said on “Fox News Sunday.”
When asked about the ripple effect that Trump’s tariffs are having on dockworkers, the trucking industry and others, Lutnick asked them to remember that “this is just a China problem right now.”
Lutnick referenced the 145% tariff Trump put on Chinese imports and the 125% duties China slapped on U.S. imports in retaliation.
“Those tariffs are too high to do business, but that’s why they’re talking right now,” he said of the China tariffs. “The rest of the world is 10%, so don’t overdo it. The rest of the world is 10%. They’re sending their goods here, as the president has said, time and time again. We are the consumer of the world. Everybody wants to sell their goods here, so they need to do business with America, and we’re using the power of our economy to open their economy to our exporters.”
This is an excerpt from an article by Fox Business’ Stephen Sorace. To read more, click here.
President Donald Trump is focused on curtailing global trade imbalances, but one of the Democratic Party’s top potential 2028 contenders is calling out the administration’s “quixotic” approach.
Although the administration locked in a trade deal with Britain
and says it has others on the horizon, Trump’s tariff policies have spurred on market volatility and been met with skepticism from many Americans, including California Gov. Gavin Newsom.
The Golden State governor shared his take on Trump’s trade agenda Friday, arguing the administration is taking an “inconsistent, chaotic approach” to trade.
“Even if I was going to be charitable, I would say his inconsistent, chaotic approach does the opposite. It freezes investment, consumer confidence, small businesses, large, medium-sized businesses. Everybody I talk to feels very similarly,” Newsom said on “Kudlow.”
This is an excerpt from an article by Fox Business’ Madeline Coggins. To read more, click here
.
Japanese automaker Nissan, which recently announced sizable layoffs, will make an additional round of cuts of more than 10,000 jobs, according to reports.
Japan’s public broadcaster NHK reported the new jobs cuts on Monday, which would bring the total announced layoffs at the struggling automaker to about 20,000 – 15% of its workforce.
The company said last month that it was looking toward a record $4.74 billion to $5.08 billion net loss in the financial year, Reuters reported.
Japan’s third-biggest automaker is looking to slim down to a more resilient size after suffering poor sales in the U.S., its top market, and struggles in China.
Nissan’s full-year results are expected to be announced on Tuesday.
Reuters contributed to this report.
The U.S. and China announced on Monday that tariffs against one another will be reduced for an initial 90-day period after officials held trade negotiations in Geneva.
The White House said the tariffs President Donald Trump announced against China on April 2 will be cut by 24 percentage points for this temporary period while retaining the remaining ad valorem rate of 10% from that announcement.
China made the same agreement, adding that it will “adopt all necessary administrative measures to suspend or remove the non-tariff countermeasures taken against the United States since April 2,” a White House announcement stated.
This is an excerpt from an article by FOX Business’ Landon Mion.
U.S. stocks signaled big gains early Monday after Treasury Secretary Scott Bessent said talks with the Chinese took a turn for the better during a meeting in neutral Switzerland.
“I’m happy to report that we made substantial progress between the United States and China in the very important trade talks” he said Sunday, promising more details on Monday.
President Donald Trump also applauded the developments:
“A very good meeting today with China, in Switzerland. Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner. We want to see, for the good of both China and the U.S., an opening up of China to American business. GREAT PROGRESS MADE!!!” he posted on Truth Social.
U.S. Trade Representative Ambassador Jamieson Greer: “This was, as the Secretary pointed out, a very constructive two days. It’s important to understand how quickly we were able to come to agreement, which reflects that perhaps the differences were not so large as maybe thought. That being said, there was a lot of groundwork that went into these two days. Just remember why we’re here in the first place — the United States has a massive $1.2 trillion trade deficit, so the President declared a national emergency and imposed tariffs, and we’re confident that the deal we struck with our Chinese partners will help us to work toward resolving that national emergency.”