A federal court on Wednesday blocked President Donald Trump from imposing sweeping tariffs on imports under an emergency-powers law, swiftly throwing into doubt…
A federal court on Wednesday blocked President Donald Trump from imposing sweeping tariffs on imports under an emergency-powers law, swiftly throwing into doubt Trump’s signature set of economic policies that have rattled global financial markets, frustrated trade partners and raised broader fears about inflation intensifying and the economy slumping.
Elon Musk is leaving the Trump administration: Musk’s departure, announced Wednesday evening, marks the end of a turbulent chapter that included thousands of layoffs, the evisceration of government agencies and reams of litigation. Despite the upheaval, the billionaire entrepreneur struggled in the unfamiliar environment of Washington, and he accomplished far less than he hoped.
Trump issues pardons for politicians, a union leader and a rapper: Trump issued a series of pardons on Wednesday, awarding them to a former New York congressman, a Connecticut governor, a rapper known as “NBA YoungBoy,” a labor union leader and a onetime Army officer who flaunted safety measures during the coronavirus pandemic.
Rubio says the US will begin revoking the visas of Chinese students: Secretary of State Marco Rubio said Wednesday the U.S. will begin revoking the visas of some Chinese students, including those studying in “critical fields.” China is the second-largest country of origin for international students in the United States, behind only India.
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Chinese students studying in the U.S. are scrambling to figure out their futures after Rubio announced that some students would have their visas revoked.
This is a “new version of Chinese Exclusion Act,” said Linqin, a Chinese student at Johns Hopkins University, who asked to be identified only by his first name out of fear of retaliation. He was referring to a 19th-century law that prohibited Chinese from immigrating to the U.S. and banned Chinese people already in the U.S. from getting citizenship. He said Wednesday was the first time he thought about leaving the U.S. after spending one-third of his life here.
The issue of Chinese students studying overseas has long been a point of tension in the bilateral relationship. During Trump’s first term, in 2019, China’s Ministry of Education warned students about visa issues in the U.S., with rising rejection rates and shortening of visas.
▶ the reaction from students
Trump wants the world to know he’s no “chicken” just because he’s repeatedly backed off high tariff threats.
The U.S. Republican president’s tendency to levy extremely high import taxes and then retreat has created what’s known as the “TACO” trade, an acronym coined by The Financial Times’ Robert Armstrong that stands for “Trump Always Chickens Out.” Markets generally sell off when Trump makes his tariff threats and then recover after he backs down.
