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‘£123m down the drain’ and ‘Better than a slap’ ‘£123m down the drain’ and ‘Better than a slap’ Some £123m has gone “down the drain” says Metro as “embattled” Thames Water is hit with “the biggest ever fine for breaking rules” and hundreds of sewage spills. “Britain’s biggest sewer rats” are splashed across the front page of the Daily Star in its coverage of the Thames Water fine. The company’s CEO, Chris Watson, is depicted riding a giant rodent with his arms in the air. European Central Bank president Christine Lagarde has discussed cutting her tenure short to chair the World Economic Forum, its founder Klaus Schwab tells the Financial Times. But leaving the post early “could trigger a succession race” for the “EU’s top monetary authority” the FT writes. Schwab says an apartment in Switzerland has been arranged for the move. In other news, Heathrow boss Thomas Woldbye “slept with phone on silent” as power cut chaos swept the airport, an internal review revealed. A photo of young boys queueing for food in Gaza also runs across its front page as the UN human rights office says 47 people were wounded at an aid distribution site. Doctors have been told “strikes will harm effort to heal NHS” The Times reports. Health Secretary Wes Streeting said he “would not cave” in to demands for a 29% pay increase for resident doctors, formerly known as junior doctors, it writes. Also on the front page, “Britons could be barred from US for ‘censoring’ Americans online” after an announcement from Secretary of State Marco Rubio. “For too long, Americans have been fined, harassed and even charged by foreign authorities for exercising free speech rights,” the paper quotes the politician as saying. The Daily Express champions how veterans’ “trips of tribute” are now “safe forever” thanks to “readers’ generosity”. In an exclusive for the paper, it says funding has been “secured” for the veterans memorial trips. Serial killer Rose West is in her “last days” writes The Sun. She can “barely walk”, is “stuck in her cell” and “tries making pals but is despised”, according to the tabloid. Also in top billing, Jeremy Clarkson says his “£5000 bull is gay” and singer Sabrina Carpenter is “lined up” for the third Mamma Mia film. Police have been given extra time to question a man arrested on suspicion of attempted ******* after a car ploughed into football fans during Liverpool’s Premier League victory parade on Monday. Speculation over the unnamed suspect’s identity makes the front page of the Daily Mirror among other papers. Elsewhere, EastEnders star Kara Tointon reveals she has had a double mastectomy. The Daily Mail goes with the same two stories as the Mirror, and the same photo of Kara Tointon. Brigitte Macron gives her husband, French President Emmanuel Macron, a ***** on the cheek in The Daily Telegraph’s main picture. “Better than a slap in the face” it writes, apparently referring to video of the president being shoved in the face by his spouse on a trip to Vietnam on Sunday. “Army of hackers to take on Putin” is the top headline as Defence Secretary John Healey promises more than £1bn to the military for battle field tech. The funding will be set out in the government’s Strategic Defence Review on Monday. The *** is a key backer of Ukraine in its war with President Vladimir Putin’s Russia. “Why did France shrug off the Macron shove?” asks The Guardian for its part. There is also “anger over poor housing” which could “spark social tension” according to the ***’s housing ombudsman who has recorded a 474% increase in complaints. A stark photo of a man carrying a white plastic bag on his shoulder pairs with the news that four people have died in “Gaza crowd chaos at UN food depot”. The BBC is “letting off” over-75s who “fail to pay their TV licence fee, according to The i Paper, quoting “an insider”. “Figures show the corporation is yet to prosecute anyone over that age not found to be paying the charge,” it writes. A TV Licensing spokesperson told BBC News: “Our primary aim is to support customers, particularly those with vulnerabilities, and to help them get and stay licensed. When there is evidence that someone has avoided paying for a TV Licence when they need one, we have a duty to enforce the law and this applies to everyone. In all cases, prosecution is a last resort.” Source link #123m #drain #slap Pelican News View the full article at [Hidden Content]

Sydney light rail shuttered for urgent repairs after week of massive delays to trains, Metro Sydney light rail shuttered for urgent repairs after week of massive delays to trains, Metro Light rail services have been scuttled across Sydney’s bustling CBD only a week after the train network was thrown into chaos after a single incident. The L2 and L3 light rail services were down shortly before 10am on Thursday between Town Hall and Circular Quay due to urgent tram repairs at Town Hall. Commuters were instead urged to take the train between the two stops, with light rail services still operational between Town Hall and Randwick and Juniors Kingsford. The repairs are the latest blow to the city’s up to one million daily train passengers after services were thrown into disarray during peak-hour last week. Camera IconThere’s more drama with Sydney’s CBD light rail services. NewsWire / Damian Shaw Credit: News Corp Australia Almost a day after a live wire with enough voltage to kill a human instantly fell on top of a train at Strathfield, passengers were still facing heavy delays. The issue ricocheted across Sydney’s train network, causing delays to the T1, T2, T3 and T8 lines and sparking a free fare day and internal review. On Wednesday, commuters again faced delays following a power issue on a Metro line train at Barangaroo – services were restored by 7pm. Source link #Sydney #light #rail #shuttered #urgent #repairs #week #massive #delays #trains #Metro Pelican News View the full article at [Hidden Content]

Rep. Marcy Kaptur says NAFTA is linked to the opioid crisis Rep. Marcy Kaptur says NAFTA is linked to the opioid crisis Rep. Marcy Kaptur says NAFTA is linked to the opioid crisis – CBS News Watch CBS News Rep. Marcy Kaptur, D-Ohio, who is now the longest-serving woman in the U.S. House of Representatives, says that the North American Free Trade Agreement (NAFTA) is “absolutely related” to the United States’ opioid epidemic during an interview with CBS News’ Major Garrett on “The Takeout” podcast. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link #Rep #Marcy #Kaptur #NAFTA #linked #opioid #crisis Pelican News View the full article at [Hidden Content]

Robinhood CEO says Trump administration allows crypto to “play some offense” Robinhood CEO says Trump administration allows crypto to “play some offense” Robinhood CEO says Trump administration allows crypto to “play some offense” – CBS News Watch CBS News In Las Vegas, tens of thousands of people are betting on Bitcoin, the increasingly popular — and unregulated — digital currency. While the Biden administration took an aggressive approach to regulating the industry, the Trump administration is pulling back. Jo Ling Kent has more. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link #Robinhood #CEO #Trump #administration #crypto #play #offense Pelican News View the full article at [Hidden Content]

Last living grandson of 10th U.S. President John Tyler, a link to a bygone era, dies at 96 Last living grandson of 10th U.S. President John Tyler, a link to a bygone era, dies at 96 The last living grandson of the 10th U.S. President John Tyler has died at 96 years old — the end of a link to a bygone era of American history. Harrison Ruffin Tyler died on Sunday evening, May 25, his family said in a statement to CBS News. His grandfather, who was born in 1790, left the Oval Office more than 179 years ago, after serving from 1841 to 1845, well before the Civil War. His immediate descendants lived into the modern age because of two generations of late second marriages to much younger wives. John Tyler, a Virginian slave owner and lifelong Democrat, served as the vice president to William Henry Harrison and became president quite unexpectedly after Harrison died suddenly three weeks after his inauguration — the first president to die while in office. At the time, succession plans weren’t fully established and Tyler was initially hesitant about taking over, according to the National Constitution Center. He took the oath of office in public on April 6, 1841, saying, “I am the President, and I shall be held responsible for my administration.” John Tyler, the 10th president of the United States, from a painting by Alonzo Chappel. / Getty Images John Tyler was married twice and had 15 children — eight children with his first wife, Letitia, who died from a stroke, and then seven more with his second wife, Julia Gardiner Tyler, who was 24 when they married. He fathered most of the second set of children in his 50s and 60s; his last child, a daughter named Pearl, was born when he was 70 years old, according to the University of Virginia’s Miller Center. Tyler’s 13th child, Lyon, was born when his father was 63 years old. Lyon Gardiner Tyler, who served as president of William and Mary College, also married twice. With his second wife, Sue Ruffin Tyler, he had two sons born in the 1920s, when Lyon was in his 70s, according to Encyclopedia Virginia. One of those children was Harrison Ruffin Tyler. Harrison Ruffin Tyler lived in Virginia and co-founded ChemTreat, an industrial water treatment company, in 1968. He loved history and his birthplace, Charles City County, Virginia, his family said, which led to his work preserving both Sherwood Forest, President Tyler’s home, and Fort Pocahontas, a Civil War fortification nearby “He will be remembered for his considerable charm, generosity and unfailing good humor by all who knew him,” Annique Dunning, executive director of Sherwood Forest, said in a statement. Cara Tabachnick Cara Tabachnick is a news editor at CBSNews.com. Cara began her career on the crime beat at Newsday. She has written for Marie Claire, The Washington Post and The Wall Street Journal. She reports on justice and human rights issues. Contact her at *****@*****.tld Source link #living #grandson #10th #U.S #President #John #Tyler #link #bygone #era #dies Pelican News View the full article at [Hidden Content]

Uefa Conference League: The story of Chelsea’s successful European campaign Uefa Conference League: The story of Chelsea’s successful European campaign Rotating and resting players in secondary cups is not a new phenomenon – but Chelsea took it to a new level in the Conference League this season. They averaged 8.5 changes per European game, based on their previous Premier League line-up. In the league stage there was a recognised Premier League team and a Conference League XI – with very little overlap. They were much changed in the domestic cups too, although fell at the second hurdle in both. England forward Palmer, their star player, was not even registered in Europe until the knockout games. As the Blues started playing in knockout games they started using more first-team players, like Palmer, Caicedo and Marc Cucurella. But even through that they never made fewer than five changes from their last league game, including the final. As the season ends, well, until next month’s Fifa Club World Cup, 18 Chelsea players featured in more Conference League than Premier League games this season. That includes five players who left the club in January. Midfielder Kiernan Dewsbury-Hall, who played all 15 European games, featured 13 times in the league. Marc Guiu, whose six goals were two shy of the Conference League Golden Boot, has yet to start a league game. However, the final saw a stronger XI, with only four outfield changes from the side that beat Nottingham Forest last Sunday to clinch a Champions League spot. “Chelsea have got so much more money than anyone else competing in this competition,” said ex-Blues winger Pat Nevin on BBC Radio 5 Live. “But they have respected the competition by saying, ‘we’re not going to put out the softest of teams but we’ll put out enough to make sure we’ll get through’. “I have to say, looking back on it all now, Enzo Maresca has done a great job.” Source link #Uefa #Conference #League #story #Chelseas #successful #European #campaign Pelican News View the full article at [Hidden Content]

Social Security chief on wait times, technology upgrades and agency’s future Social Security chief on wait times, technology upgrades and agency’s future Social Security chief on wait times, technology upgrades and agency’s future – CBS News Watch CBS News Some Social Security recipients are getting three checks deposited into their accounts this month. “CBS Evening News” co-anchor Maurice DuBois spoke to Frank Bisignano, the new commissioner of the agency, about the crucial lifeline that serves tens of millions of Americans. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link #Social #Security #chief #wait #times #technology #upgrades #agencys #future Pelican News View the full article at [Hidden Content]

REVEALED: Australia’s 10 richest people and how much they’re worth REVEALED: Australia’s 10 richest people and how much they’re worth Iron ore magnate Gina Rinehart may still be Australia’s richest person but that massive pile of dosh is now just a little shorter than it was last year. The name behind the Hancock Prospecting and Hancock Agriculture empires — with assets stretching from Roy Hill and Atlas Iron through to Bannister Downs Dairy, Drizabone and Rossi boots — is worth $38.1 billion, according to this year’s *********** Financial Review Rich List. Compared to your bank balance that’s still pretty decent, no? Mrs Rinehart has now held the title for six-straight years, but this year’s figure is 6 per cent down on where it stood last year thanks to a softer market for her No.1 earner, iron ore. Weaker prices for the steel-making ingredient have also dented the fortunes of fellow miners Andrew Forrest and estranged wife Nicola, who’s net worth now stands at $12.8b — down from last year’s $16.92b and dropping her to ninth on the list of the top 10 wealthiest people in Australia. Fortescue founder Mr Forrest disappeared from the list altogether. Across the top 10, the AFR says their collective fortune now stands at $202b — down 9.2 per cent from a year ago. Property developer Harry Triguboff held on to his spot at No.2 with $29.7b while packaging king Anthony Pratt and Family come in third with $25.9b. Atlassian co-founder Scott Farquahar was fourth with $21.4b. But noticeably absent from the top 10 was his co-founder wingman Mike Cannon-Brookes. Everyone’s favourite litigant Clive Palmer has $20.1b, which put him at fifth, and Perth-born founders of online graphic design unicorn Canva, Melanie Perkins and Cliff Obrecht, held at sixth place with a small rise in their fortune to $14.1b. Co-founder of infrastructure and asset management firm Stonepeak, Michael Dorrell, stormed into the charts to seventh, with an estimated net worth of $13.9b. Former Glencore boss Ivan Glasenberg has $13.3b, earning him eighth spot. Kerry Stokes, chairman of Seven West Media and majority shareholder of the diversified SGH empire — which includes Boral, Coates Hire, WesTrac and investments in a host of resource and energy companies — was 10th with $12.7b. Source link #REVEALED #Australias #richest #people #theyre #worth Pelican News View the full article at [Hidden Content]

US trade court blocks Trump’s tariffs US trade court blocks Trump’s tariffs By Dietrich Knauth and Daniel Wiessner NEW YORK (Reuters) -A U.S. trade court on Wednesday blocked President Donald Trump‘s tariffs from going into effect, ruling that the president overstepped his authority by imposing across-the-board duties on imports from nations that sell more to the United States than they buy. The Manhattan-based Court of International Trade said the U.S. Constitution gives Congress exclusive authority to regulate commerce with other countries that is not overridden by the president’s emergency powers to safeguard the U.S. economy. “The court does not pass upon the wisdom or likely effectiveness of the President’s use of tariffs as leverage. That use is impermissible not because it is unwise or ineffective, but because [federal law] does not allow it,” a three-judge panel said in the decision. The Trump administration minutes later filed a notice of appeal. The ruling came in a pair of lawsuits, one filed by the nonpartisan Liberty Justice Center on behalf of five small U.S. businesses that import goods from countries targeted by the duties and the other by 13 U.S. states. The companies, which range from a New York wine and spirits importer to a Virginia-based maker of educational kits and musical instruments, have said the tariffs will hurt their ability to do business. The White House and lawyers for groups that sued did not immediately respond to requests for comment. Stephen Miller, a White House deputy chief of staff and one of Trump’s lead policy advisers, rebuked the court in a brief social media post, writing: “The judicial coup is out of control.” At least five other legal challenges to the tariffs are pending. Oregon Attorney General Dan Rayfield, a Democrat whose office is leading the states’ lawsuit, called Trump’s tariffs unlawful, reckless and economically devastating. “This ruling reaffirms that our laws matter, and that trade decisions can’t be made on the president’s whim,” Rayfield said in a statement. Trump has claimed broad authority to set tariffs under the International Emergency Economic Powers Act (IEEPA), which is meant to address “unusual and extraordinary” threats during a national emergency. The law has historically been used to impose sanctions on enemies of the U.S. or freeze their assets. Trump is the first U.S. president to use it to impose tariffs. The Justice Department has said the lawsuits should be dismissed because the plaintiffs have not been harmed by tariffs that they have not yet paid, and because only Congress, not private businesses, can challenge a national emergency declared by the president under IEEPA. Story Continues In imposing the tariffs in early April, Trump called the trade deficit a national emergency that justified his 10% across-the-board tariff on all imports, with higher rates for countries with which the United States has the largest trade deficits, particularly China. Many of those country-specific tariffs were paused a week later. The Trump administration on May 12 said it was also temporarily reducing the steepest tariffs on China while working on a longer-term trade deal. Both countries agreed to cut tariffs on each other for at least 90 days. Trump’s on-and-off-again tariffs, which he has said are intended to restore U.S. manufacturing capability, have shocked U.S. financial markets. The U.S. dollar rose against both the Swiss franc, a traditional currency safe-haven, and the Japanese yen following the court decision. (Reporting by Dietrich Knauth and Daniel Wiessner; Editing by Sandra Maler) Source link #trade #court #blocks #Trumps #tariffs Pelican News View the full article at [Hidden Content] For verified travel tips and real support, visit: [Hidden Content]

Credit default swaps are in demand again amid U.S. fiscal worries Credit default swaps are in demand again amid U.S. fiscal worries Traders work on the floor of the New York Stock Exchange (NYSE) at the opening bell on May 27, 2025, in New York City. Timothy A. Clary | Afp | Getty Images Investors are getting nervous the U.S. government might struggle to pay its debt — and they are snapping up insurance in case it defaults. The cost of insuring exposure to U.S. government debt has been rising steadily and is hovering near its highest level in two years, according to LSEG data. Spreads or premiums on U.S. 1-year credit default swaps were up at 52 basis points as of Wednesday from 16 basis points at the start of this year, LSEG data showed. Credit default swaps are like insurance for investors. Buyers pay a fee to protect themselves in case the borrower — in this case the U.S. government — can’t repay their debt. When the cost of insuring the U.S. debt goes up, it’s a sign that investors are getting nervous. Spreads on the CDS with 5-year tenor were at nearly 50 basis points compared with about 30 basis points at the start of the year. In a CDS contract, the buyer pays a recurring premium known as the spread to the seller. If a borrower, in this case, the U.S. government defaults on its debt, the seller must compensate the buyer. CDS prices reflect how risky a borrower seems and are used to guard against signs of financial trouble, not just a full-blown default, said Rong Ren Goh, portfolio manager in Eastspring Investments’ fixed income team. The recent surge in demand for CDS contracts is a “hedge against political risk, not insolvency,” said Goh, underscoring the broader anxiety about U.S. fiscal policy and “political dysfunction,” rather than a market view that the government is verging on failing to meet its obligation. Investors are pricing in the increased concerns around the unresolved debt ceiling, several industry watchers said. “The credit default swaps have become popular again as the debt ceiling remains unresolved,” said Freddy Wong, head of Asia Pacific at Invesco fixed income, pointing out that the U.S. Treasury has reached the statutory debt limit in January 2025. The Congressional Budget Office said in a March notice that the Treasury had already reached the current debt limit of $36.1 trillion and had no room to borrow, “other than to replace maturing debt.” Treasury Secretary Scott Bessent said earlier this month that his department was tallying the federal tax receipts collected around April 15 filing deadline to come up with a more precise forecast for the so-called “X-date,” referring to when the U.S. government will exhaust its borrowing capacity. Data from Morningstar shows that spikes in CDS spreads on U.S. government debt have typically aligned with periods of heightened worries around U.S. government’s debt limit, particularly in 2011, 2013 and in 2023. Wong pointed out that there are still several months before the U.S. reaches the X-date. The U.S. House of Representatives has passed a major tax cut package which could reportedly see the debt ceiling raised by $4 trillion, pending approval from the Senate. In a May 9 letter, Bessent urged congressional leaders to extend the debt ceiling by July, before Congress leaves for its annual August recess, in order to avert economic calamity, but warned “significant uncertainty” in the exact date. “There is still enough time for the Senate to pass its version of the bill by late July to avoid a technical default in U.S. Treasury,” added Wong. During the debt ceiling crisis in 2023, the U.S. Congress passed a bill suspending the debt ceiling just days before the U.S. government entered into a technical default. In the past, the U.S. has come dangerously close to a default but in each case, Congress acted last minute to raise or suspend the ceiling. Fiscal reckoning The surge in CDS prices is likely a “short-lived” reaction while investors wait for a new budget deal to raise the debt limit. It is unlikely a sign of an impending financial crisis, according to industry watchers. During the 2008 financial meltdown, institutions and investors actively traded CDS linked to mortgage-backed securities, many of which were filled with high-risk subprime loans. When mortgage defaults soared, these securities plummeted in value, resulting in enormous CDS payout obligations. However, the implications for soaring demand for sovereign CDS are very different compared to demand for corporate CDS which was the case in 2008, where investors were making an actual call about growing default risk at corporations, said Spencer Hakimian, founder of Tolou Capital Management. “Traders seem to believe that CDS provides a speculative instrument for betting on a government debt crisis, which I view as extremely unlikely,” said Ed Yardeni, president of Yardeni Research, who added that the the U.S. will “always prioritize” paying interest on its debt. “The U.S. government won’t default on its debt. The fear that it might do so is not justified,” he told CNBC. Moody’s earlier this month downgraded the U.S. sovereign credit rating to Aa1 from Aaa, citing the government’s deteriorating fiscal health. Should the Senate pass the bill in time, the massive ceiling increase will push up the Treasury supply, putting the U.S. fiscal deficit condition back in the spotlight, Wong warned. Source link #Credit #default #swaps #demand #U.S #fiscal #worries Pelican News View the full article at [Hidden Content] For verified travel tips and real support, visit: [Hidden Content]

Elden Ring Nightreign Review | TheSixthAxis Elden Ring Nightreign Review | TheSixthAxis TSA writes: Taking Elden Ring and blending it with multiplayer, roguelikes and battle royale, Elden Ring Nightreign is fun, but can it add to the lore? Source link #Elden #Ring #Nightreign #Review #TheSixthAxis Pelican News View the full article at [Hidden Content]

What trade imbalance? China presses ahead with manufacturing push What trade imbalance? China presses ahead with manufacturing push A worker works in a workshop of a textile products manufacturing enterprise in Qingzhou Economic Development Zone in Qingzhou City, Shandong Province, China, on May 10, 2025. Costfoto | Nurphoto | Getty Images Forget the factory lines for socks, sneakers and T-shirts. U.S. President Donald Trump wants to boost the domestic production of high-tech products, and not apparel or footwear, he told reporters Sunday. However, China is doubling down on its efforts to bolster advanced manufacturing, which could put both countries on a collision course. Just last week, ******** President Xi Jinping reaffirmed his plans for manufacturing-led growth during a visit to the northern province of Henan, pressing ahead with a strategy long criticized by the U.S. and major trade partners for deepening global trade imbalances. Xi told workers at a state-owned ball-bearing factory that self-reliance in advanced manufacturing is “the right path” for China and the “backbone” of its economy, according to an official statement. The manufacturing sector contributed to over 25% of China’s GDP in 2023, according to the World Bank. While China’s push to expand its manufacturing capabilities is part of its goal to achieve self-reliance, especially in high-tech sectors, this could run counter to the Trump administration’s core demands in the ongoing trade talks, experts warn. Trump wants China to address the trade imbalances and has slammed Beijing for providing state subsidies to ******** companies, thereby distorting competition. However, there is “little scope” for China to budge and scale back its manufacturing-led strategy, which is closely tied to Beijing’s drive for self-reliance, said Allan von Mehren, China economist at Danske Bank. “I’m not too optimistic on a big deal between the U.S. and China,” Mehren said, anticipating U.S. tariff rates on ******** goods to hold at around 40%. The “Made in China 2025” ten-year plan, released in 2015 — two years after Xi came into power — aimed to transform China into a leading high-end manufacturer, from electric vehicles and commercial aircraft to semiconductors and robots. The Center for Strategic and International Studies estimated in a 2022 report that China’s spending in funding favored industries amounted to at least 1.73% of its GDP in 2019, significantly higher than the U.S., which spent 0.39% of its GDP on industrial support in 2019. These include direct grants and tax benefits to its prized sectors, with nearly all large, listed ******** firms receiving some form of state subsidies, according to economic consulting firm Rhodium Group. Despite the support, China missed several key targets from its ten-year plan, including those for aerospace and high-end robots, and fostered unhealthy industrial competition that worsened global trade tensions, according to the European Chamber of Commerce in China. Trade rebalance unlikely U.S. Treasury Secretary Scott Bessent, in an interview with CNBC earlier this month, sounded optimistic about reaching a middle ground with China: “We need more manufacturing, they need more consumption, so there is a chance to rebalance together, we’ll see if that’s possible.” But it remains unclear whether Bessent will make that a priority during the ongoing trade negotiation with Beijing as part of the 90-day trade truce. The U.S. trade deficit with China is unlikely to “narrow substantially,” Jing Wang, China economist at Nomura, and the team said in a note. They expect Beijing to reduce its reliance on U.S. imports and for American manufacturers to take years to shift manufacturing onshore and find suitable alternatives. “As the U.S. is the most buoyant consumer market worldwide, a sudden flood of cheaper ******** goods to the rest of the world will inevitably spark global backlash,” Wang added. Dumping anxiety China’s continued industrial push and ramped-up exports are stirring anxiety in non-U.S. markets and inviting fresh trade barriers. As the specter of U.S. tariffs loomed at the start of the year, ******** toy manufacturers in Yiwu city, a manufacturing hub, rushed to redesign Santa Claus figurines with rounder faces and blue eyes in hopes of appealing more to European consumers. But their search for new markets to compensate for the opportunities lost in the U.S. is stirring anxiety in Europe, said Nick Marro, principal economist at Economist Intelligence Unit. “By the end of this year, it’s not just U.S.-China tensions that we need to watch, it’s going to increasingly be EU-China tensions … And it’s no longer just going to be about electric vehicles [but] across a whole wide range of different products,” Marro added. Top finance officials from G7 nations, led by the U.S., convened last week to discuss steps to address overcapacity and unfair trade practices — “with a clear aim of curbing China’s export saturation,” said Wang Dan, China director at Eurasia Group. These moves could still be interpreted in Beijing as a “deliberate provocation” and prompt it to use other ways to create headaches for foreign businesses eyeing the ******** market. “Delays in licensing, exclusion from local incentive schemes, or tighter oversight may follow if tensions rise in other areas of the bilateral relationship,” Eurasia’s Wang said. China’s grip on low-end manufacturing could also undercut manufacturing in developing nations, according to Leah Fahy, China economist at Capital Economics. For example, India’s share of global exports in furniture, toys and games has stagnated in recent years, while garment exports declined. China widened its lead for these goods in the same *******. India, Vietnam and Indonesia have imposed various protectionist measures to provide some relief for domestic producers from intense price competition, particularly in sectors facing overcapacity, cheap imports. That said, some argue that excess ******** capacity could offer a silver lining for inflation-weary economies by easing price pressures. “China is going to be exporting deflation to the rest of the world,” said Marro, noting that for markets with limited manufacturing bases, like Australia, cheap ******** imports could ease the cost-of-living crisis and help bring down inflationary pressure. Weekly analysis and insights from Asia’s largest economy in your inbox Subscribe now No easy fixes Economists at home and abroad have called on Beijing to shift to a consumption-led model and reduce reliance on manufacturing, a strategy widely blamed for deepening deflationary pressure in the economy. ******** customs data in April offered a fresh reminder of the imbalance between China’s productive capacity and its domestic demand. Its trade surplus hit a record high of $992.2 billion, driven by persistent imbalances with major partners including the U.S., the European Union and Southeast Asia. The ******** leadership has stepped up its support, aiming to divert U.S.-bound goods to sell to domestic consumers. But convincing consumers, wary of income and job prospects, to spend again has proven to be a challenging task. China’s retail sales growth slowed to 5.1% in April, missing economists’ expectations, with automobile sales lagging significantly, growing just 0.7% from a year earlier, compared with a 5.5% jump in March. Beijing’s shift toward a more consumption-led model will see a “very slow reform momentum,” said Louise Loo, lead economist at Oxford Economics, forecasting consumption to account for half of China’s economy only by mid-century, well below the 70% shares seen in the U.S. However, Xi’s focus on manufacturing is not entirely unjustified, as Washington is likely to maintain a firm grip, restricting Beijing’s access to more advanced technology. “The Trump administration, by treating China as the most potent near-peer adversary, would make the yard ******* and fence higher,” Nomura’s Wang said. The “small yard, high fence” was a strategy adopted by the Biden administration aimed at safeguarding a narrow set of critical technologies (small yard) with tough and extensive restrictions (high fence), while maintaining normal economic exchange in other areas. “Strategic decoupling remains inevitable on national security concerns,” Wang added. — CNBC’s Evelyn Cheng contributed to this story. Source link #trade #imbalance #China #presses #ahead #manufacturing #push Pelican News View the full article at [Hidden Content] For verified travel tips and real support, visit: [Hidden Content]

These South Park Blu-Rays Are The Best Way To Get Every Episode Of The Show These South Park Blu-Rays Are The Best Way To Get Every Episode Of The Show The next season of South Park, season 27, premieres on July 9, just a few days after making the jump to Paramount+ from HBO Max. Fans are a bit concerned about the move, however, as several episodes will be banned from the new streaming platform. This includes episodes from seasons 1, 2, 4, 5, 6, 7, 8, 9, 10, 14, 16, and 17. It’s an unfortunate move, though it’s not without precedent for the streaming service. A controversial episode of Nathan For You–another Comedy Central series–is banned on Paramount+ even though it’s available on other networks like HBO. This has led to an increase in popularity for South Park Blu-rays and DVDs, which contain all episodes in their original, unedited format. More than a dozen episodes are likely to be banned from the streaming service, so if you’d like the most comprehensive collection of South Park content, you’ll need to spring for a physical Blu-ray. But with 27 seasons under its belt, there are a lot of different products to wade through. So, to help, we’ve put together a list of the best products to help you navigate all your options. From single-season releases and box sets to specials and movies, here’s a look at all the South Park Blu-rays available now. Note that, in some cases, it might be more affordable to pick up individual South Park seasons on DVD than it is to pick up the Blu-ray collections. Conversely, some Blu-rays are also on ***** for less than their DVD counterparts. For example, Season 15 (Blu-ray) is discounted to $13.19 while the DVD version $15. Pricing is subject to change–Amazon frequently runs deals on Blu-rays–so be sure to check all formats before making a purchase. South Park: Season 15, Seasons 1-5, and Season 2 South Park Box Sets If you want to grab as many episodes as you can in a single bundle, check out the many South Park Blu-ray and DVD collections. These include multiple seasons each, making it easy to snag dozens of episodes along with some special features and exclsuive packaging. The only season not included in these box sets is the latest, Season 26, but you’ll find Blu-ray and DVD versions of South Park Season 26 listed in the single-season section. South Park Blu-ray Collections South Park DVD Collections South Park Movies and Specials Many of South Park’s most iconic multi-episode arcs and specials, like The Streaming Wars and The End of Obesity, have also seen self-contained Blu-ray releases. There’s also the original South Park movie, which you won’t find on other South Park collections. We’ve listed them all below, along with a link for the 4K Blu-ray version of South Park creators Matt Stone and Trey Parker’s other theatrical movie, Team America: World Police. Specials (Blu-ray) Specials (DVD) Movies (4K Blu-ray) South Park: Individual Seasons (Blu-ray + DVD) The other option is to grab each South Park season on its own. All 26 are available on Blu-ray or DVD, and while the multi-season collections might be a better value or the only in-stock options for grabbing specific seasons on Blu-ray instead of DVD, these are the most affordable way to pick up a specific season. Some also include special features like commentaries, behind-the-scenes documentaries, trailers, and more. Season 1 Season 2 Season 3 Season 4 Season 5 Season 6 Season 7 Season 8 Season 9 Season 10 Season 11 Season 12 Season 13 Season 14 Season 15 Season 16 Season 17 Season 18 Season 19 Season 20 Season 21 Season 22 Season 23 Season 24 Season 25 Season 26 Source link #South #Park #BluRays #Episode #Show Pelican News View the full article at [Hidden Content] For verified travel tips and real support, visit: [Hidden Content]

Trump Live Updates: Pardons, Ukraine War and More – The New York Times Trump Live Updates: Pardons, Ukraine War and More – The New York Times Trump Live Updates: Pardons, Ukraine War and More The New York TimesTrump pardons former GOP congressman Michael Grimm over tax fraud charges CBS NewsTrump pardons former New York congressmember and Connecticut governor PoliticoDonald Trump pardons former Republican Rep. Michael Grimm for tax fraud conviction USA TodayExclusive: Trump pardons former Staten Island Rep. Michael Grimm Spectrum News NY1 Source link #Trump #Live #Updates #Pardons #Ukraine #War #York #Times Pelican News View the full article at [Hidden Content]

Court strikes down Trump reciprocal tariffs Court strikes down Trump reciprocal tariffs U.S. President Donald Trump holds up a chart while speaking during a “Make America Wealthy Again” trade announcement on April 2, 2025 in Washington, DC. Chip Somodevilla | Getty Images News | Getty Images A federal court ruled Wednesday that President Donald Trump exceeded his authority with his reciprocal tariffs, dealing a blow to the president’s economic plan that has roiled markets. Trump is all but certain to appeal, but the ruling by the U.S. Court of International Trade brings the plan that sparked a . The judges wrote that the International Emergency Economic Powers Act, a 1977 law which Trump invoked to justify the tariffs, does not actually give the president the power to issue the sweeping duties initiated last month. “The Worldwide and Retaliatory Tariff Orders exceed any authority granted to the President by IEEPA to regulate importation by means of tariffs. The Trafficking Tariffs fail because they do not deal with the threats set forth in those orders,” the judges wrote. The suit was brought on behalf of five U.S. businesses that rely on imports to some extent. The judges said that Trump’s tariff orders were “unlawful as to all,” not just those plaintiffs’ companies, so there would be “no question here of narrowly tailored relief.” The judges ordered the challenged tariffs to be “vacated and their operation permanently enjoined.” Lawyers for the White House could appeal the matter, but the case and decision put President Donald Trump’s economic agenda under pressure. This is breaking news. Please refresh for updates. Source link #Court #strikes #Trump #reciprocal #tariffs Pelican News View the full article at [Hidden Content] For verified travel tips and real support, visit: [Hidden Content]

Flood recovery insurance claims could take years: MP Flood recovery insurance claims could take years: MP It could take more than a year for some insurance claims to be resolved following record-breaking flooding as recovery operations step up. Premier Chris Minns has returned to Taree to meet with volunteers, farmers and businesses affected by deadly floods around the NSW mid-north coast. The Manning River exceeded a 1929 record during recent flooding in the town, peaking at almost 6.5 metres and bringing widespread devastation. Mr Minns on Thursday announced former NSW Police deputy commissioner Dave Owens will commence as flood recovery co-ordinator. “He is on the ground in Taree, ready to go, to help the community recover from these terrible floods,” Mr Minns said. Mr Owens will co-ordinate the response by agencies and community organisations and provide feedback to the government. He has previously co-ordinated recovery efforts following other disasters. “He knows how to get things done, and he’ll be a strong advocate for the community here,” Recovery Minister Janelle Saffin said. About 3500 people remained isolated on Wednesday, with more than 1000 buildings deemed uninhabitable following the floods, which killed five people. The floods have been declared a “catastrophe” by the Insurance Council of Australia. The declaration escalates the industry response, meaning claims are given priority and triaged to provide urgent assistance to the worst-impacted property owners. “It is confronting to see the extent of the damage across the region and it is clear the recovery is going to take some time and that means support must be ongoing,” the council’s chief executive Andrew Hall said. More than 6000 insurance claims have been filed, about a quarter of them coming from the MidCoast council area, based in Taree. Insurers should be keeping track of claims that take a long time to resolve, federal Assistant Treasurer Daniel Mulino said. “Generally, 90 to 95 per cent of claims are resolved within a year or so, but that still leaves a very large number of claims hanging on,” he told ABC Radio National on Thursday. “Hundreds, and sometimes thousands of people with still unresolved claims a year, or even two years after the disaster.” Dr Mulino said the government is working with insurers to strengthen the industry code as it implements recommendations from a 2024 federal parliamentary inquiry he chaired. Source link #Flood #recovery #insurance #claims #years Pelican News View the full article at [Hidden Content]

Pipistrello and the Cursed Yoyo Review Stringing you along | TheSixthAxis Pipistrello and the Cursed Yoyo Review Stringing you along | TheSixthAxis TSA writes: Can you go Round the World and Walk the Dog? WEll, Pippet can in the Zelda-like Pipstrello and the Cursed Yoyo. Source link #Pipistrello #Cursed #Yoyo #Review #Stringing #TheSixthAxis Pelican News View the full article at [Hidden Content]

Donald Trump’s tariffs on Canada, world blocked by U.S. trade court – National Donald Trump’s tariffs on Canada, world blocked by U.S. trade court – National The U.S. Court of International Trade on Wednesday struck down U.S. President Donald Trump’s sweeping tariffs on Canada and the rest of the world, ruling he exceeded his authority under an emergency-powers law. The three-judge panel’s decision blocks both the fentanyl and border security-related tariffs on Canada and Mexico and the global “reciprocal tariffs” Trump imposed in April that have unleashed widespread economic chaos. “The challenged tariff orders will be vacated and their operation permanently enjoined,” the ruling says. The White House did not immediately respond to a message seeking comment. The Trump administration is expected to appeal. Trump declared a national emergency on fentanyl to justify the tariffs on Canada and Mexico, saying they were necessary to elicit action from those countries to curb the flow of the deadly opioid. Story continues below advertisement He later ordered the United States’ trade deficits with several countries also amount to a national emergency, dubbing his announcement of “reciprocal” tariffs as “Liberation Day.” Both emergencies were declared under the 1977 International Emergency Economic Powers Act (IEPPA), which the Trump administration argued gives the president broad power over how to respond, including through actions on imports to the U.S. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. But the court sided with several states and businesses that challenged the tariffs, saying only Congress has authority under the U.S. constitution to approve tariffs. 1:44 Canada’s jobless rate ticks up as Trump’s tariffs cause cracks in labour market The plaintiffs argued that the IEPPA does not authorize the use of tariffs. Even if it did, they said, the trade deficits with foreign trading partners do not meet the law’s requirement that an emergency be triggered only by an “unusual and extraordinary threat.” Story continues below advertisement In the case of the tariffs on Canada and Mexico, the court said they do not fit the emergency law’s definition of measures to “deal with” a threat to the U.S. — in this case, fentanyl and ******** immigration. Trending Now Edmonton senior survives moose attack in own yard: ‘I could be dead’ Trump says Canada would pay $61B for Golden Dome, but zero as ’51st state’ “‘Deal with’ connotes a direct link between an act and the problem it purports to address,” the court’s decision says. “A tax deals with a budget deficit by raising revenue. A dam deals with flooding by holding back a river. But there is no such association between the act of imposing a tariff and the ‘unusual and extraordinary threat’ that the Trafficking Orders purport to combat.” More on World More videos A few U.S. senators have tried to introduce measures that would nullify Trump’s emergency orders and end the tariffs, but have failed to get them passed. One of those lawmakers, Sen. Tim Kaine of Virginia, told Global News during a visit to Ottawa last week that Trump’s fentanyl emergency declaration was only an excuse to impose tariffs on Canada. “I just view it as an effort by the president to try to impose tariffs unilaterally,” he said. “To do so, he had to declare an emergency, and that was the emergency he came up with.” Data from both countries shows that Canada is responsible for less than one per cent of fentanyl seized by U.S. border authorities. Story continues below advertisement However, a new U.S. Drug Enforcement Agency report said fentanyl production in Canada represents a “growing concern.” Fentanyl seizures at the northern U.S. border also spiked last month, according to U.S. Customs and Border Protection data, though remain a fraction of what’s seized at the southern border. &copy 2025 Global News, a division of Corus Entertainment Inc. Source link #Donald #Trumps #tariffs #Canada #world #blocked #U.S #trade #court #National Pelican News View the full article at [Hidden Content] For verified travel tips and real support, visit: [Hidden Content]

US says it will start revoking visas for ******** students US says it will start revoking visas for ******** students By Jasper Ward and Costas Pitas WASHINGTON (Reuters) -U.S. Secretary of State Marco Rubio said on Wednesday the United States will start revoking visas of ******** students, including those with connections to the ******** ********** Party or studying in critical fields. President Donald Trump’s administration has sought to ramp up deportations and revoke student visas as part of wide-ranging efforts to fulfill its hardline immigration agenda. In a statement, Rubio said the department will also revise visa criteria to enhance scrutiny of all future visa applications from China and Hong Kong. “The U.S. State Department will work with the Department of Homeland Security to aggressively revoke visas for ******** students,” he said. The ******** Embassy in Washington did not immediately respond to a request for comment. China is also at the epicenter of Trump’s global trade war that has roiled financial markets, upended supply chains and fueled risks of a sharp worldwide economic downturn. The number of ******** international students in the United States has dropped to about 277,000 in 2024 from a high of around 370,000 in 2019, driven partly by growing tension between the world’s two biggest economies and heightened U.S. government scrutiny of some ******** students. On Tuesday, Reuters reported the U.S. Department of State had halted new appointments for all foreign student and exchange visitor visa applicants, according to an internal cable. The Trump administration has expanded social media vetting of foreign students and is seeking to ramp up deportations and revoke student visas as part of its wide-ranging efforts to fulfill his hardline immigration agenda. (Reporting by Jasper Ward and Costas Pitas; Editing by Leslie Adler, Paul Thomasch and Lincoln Feast.) Source link #start #revoking #visas #******** #students Pelican News View the full article at [Hidden Content]

Apple might be about to make a major change to how it names its operating systems Apple might be about to make a major change to how it names its operating systems A new report from Bloomberg says Apple will change how it numbers its operating systems The change will be to match the year, so not iOS 19 but iOS 26 It’s said the change will be for iPadOS, macOS, watchOS, tvOS, and visionOS as well With just 12 days until Apple’s WWDC 2025 kicks off on June 9, 2025, with an opening keynote, rumors and reports are coming in hot about what the tech giant might announce. Given that it’s the Worldwide Developers Conference, we’re expecting CEO Tim Cook and a slew of executives to walk us through the next generation of platforms. Up until a new report, we fully expected iOS 19 and iPadOS 19, the next generation of macOS with a unique spot in California, giving it a name, and new versions of watchOS, tvOS, and visionOS, all going up by one number. According to Bloomberg’s Mark Gurman, though, Apple might be throwing a curveball and ditching the concept of naming the software by the next generational number. The report states that instead of unveiling iOS 19, the successor to iOS 18, Apple will introduce iOS 26. You may like (Image credit: Future) “The next Apple operating systems will be identified by year, rather than with a version number,” the report reads. Alongside iOS jumping to 26, it appears that Apple might roll out iPadOS 26, macOS 26, watchOS 26, tvOS 26, and maybe most shockingly, visionOS 26. The latter would be the most significant jump, as we currently only have visionOS 2, and the Vision Pro as a whole is not an aging device. It appears that Apple’s change, at least as described in this report, is aimed at clearing up some confusion and establishing uniformity in its branding. The new naming convention is rumored to arrive along with a far-reaching design refresh dubbed “solarium” that is expected to affect every one of Apple’s platforms – iOS, iPadOS, macOS, watchOS, visionOS, and tvOS included. I’m personally excited about the more transparent design refresh for the iPhone’s software and the rest of the platforms; it’ll reinvigorate and make the whole experience feel a bit cleaner, at least I think so. However, this new naming convention is a bit more confusing to me – Apple seems to be taking an approach similar to car manufacturers, naming its software for the year ahead. That feels a little confusing on paper, but I’m curious to see how Apple explains this on stage. It could also signal that the now delayed AI-powered Siri – the landmark feature of Apple Intelligence – may not land until 2026 – though that’s really anyone’s guess for an arrival. Sign up for breaking news, reviews, opinion, top tech deals, and more. (Image credit: Apple/Future) Apple wouldn’t be the first company to take a leap of faith with its naming conventions. Samsung jumped from the Galaxy S10 family to the Galaxy S20, and Microsoft has tried this for a few years, then reverted to generational numbers. The new naming strategy for iOS, iPadOS, macOS, tvOS, watchOS, and visionOS, won’t be the only news or changes, though. We’re expecting that redesign across platforms, plus the potential for a dedicated gaming app for the iPhone, iPad, and Mac, a redesigned translation app, and some enhancements to the Apple Intelligence feature set. Of course, this should all be taken with a grain of salt for now, but we’ll be reporting live from Cupertino come June 9, 2025, to break down everything that Apple announces at WWDC 2025 – so stick with TechRadar. You might also like Source link #Apple #major #change #names #operating #systems Pelican News View the full article at [Hidden Content] For verified travel tips and real support, visit: [Hidden Content]

Court strikes down Trump reciprocal tariffs Court strikes down Trump reciprocal tariffs U.S. President Donald Trump holds up a chart while speaking during a “Make America Wealthy Again” trade announcement on April 2, 2025 in Washington, DC. Chip Somodevilla | Getty Images News | Getty Images President Donald Trump exceeded his power when he enacted steep “reciprocal” tariffs on more than 180 countries and territories in April, a panel of federal trade judges ruled Wednesday. The judges wrote that the International Emergency Economic Powers Act, a 1977 law which Trump invoked to justify the tariffs, does not actually give the president the power to issue the sweeping duties initiated last month. “The Worldwide and Retaliatory Tariff Orders exceed any authority granted to the President by IEEPA to regulate importation by means of tariffs. The Trafficking Tariffs fail because they do not deal with the threats set forth in those orders,” the judges wrote. The suit was brought on behalf of five U.S. businesses that rely on imports to some extent. The judges said that Trump’s tariff orders were “unlawful as to all,” not just those plaintiffs’ companies, so there would be “no question here of narrowly tailored relief.” The judges ordered the challenged tariffs to be “vacated and their operation permanently enjoined.” Lawyers for the White House could appeal the matter, but the case and decision put President Donald Trump’s economic agenda under pressure. This is breaking news. Please refresh for updates. Source link #Court #strikes #Trump #reciprocal #tariffs Pelican News View the full article at [Hidden Content] For verified travel tips and real support, visit: [Hidden Content]

Trump's sweeping global tariffs blocked by federal court – Axios Trump's sweeping global tariffs blocked by federal court – Axios Trump’s sweeping global tariffs blocked by federal court AxiosFederal court says Trump doesn’t have the power to impose tariffs unilaterally ABC NewsTrump’s Global Tariffs Blocked by US Trade Court Bloomberg.comUS court blocks Trump’s ‘Liberation Day’ tariffs ReutersFederal court strikes down Trump’s April 2 tariffs Politico Source link #Trump039s #sweeping #global #tariffs #blocked #federal #court #Axios Pelican News View the full article at [Hidden Content]

Court strikes down Trump’s tariffs, ruling them ******** Court strikes down Trump’s tariffs, ruling them ******** Toymaker sues Trump over tariffs Toymaker sues Trump administration over tariffs, claiming they overreach authority 03:02 A federal court on Wednesday froze many of the large-scale tariffs imposed by President Trump on virtually every foreign nation, ruling the levies exceed the president’s legal authority. The ruling — issued by a panel of judges on the U.S. Court of International Trade — focused on the sweeping 10% tariffs the president assessed on virtually every U.S. trading partner last month, with higher tariffs threatened for dozens of countries. The court said the economic emergency powers law cited by Mr. Trump during his April rollout of the global tariffs — dubbed “Liberation Day” — didn’t give him the power to impose tariffs. The judges also said it would be unconstitutional for a law to give the president blanket authority to set tariffs. CBS News has reached out to the White House for comment. This is a developing story and will be updated. Joe Walsh Joe Walsh is a senior editor for digital politics at CBS News. Joe previously covered breaking news for Forbes and local news in Boston. Source link #Court #strikes #Trumps #tariffs #ruling #******** Pelican News View the full article at [Hidden Content]

Cole Palmer: Chelsea playmaker inspires Conference League final win Cole Palmer: Chelsea playmaker inspires Conference League final win No one needed this moment more than Chelsea striker Nicolas Jackson. Before the match, even Maresca said Jackson owed a “debt” to his team-mates after getting sent off in the 2-0 defeat at Newcastle on 11 May, a red card that could well have cost Chelsea qualification for the Champions League. After the match, Maresca said “this is the Nico that the team needs”. He is among those who have struggled to convince the Stamford Bridge fanbase – and the club are looking to sign a striker, with Ipswich Town’s Liam Delap among their targets. However, in that regard, the Senegal international is just like the head coach and the owners, who have all banked credit by winning a trophy. For Maresca, this was his chance to show the club could build a winning mentality after a season during which he has faced criticism for his style of football and a run of poor results over the winter. For the US consortium, their ownership was tarnished by 1,201 days without silverware but the moment captain Reece James lifted the Conference League trophy, the first in his captaincy, they earned valuable breathing room. Boehly was the first to go and celebrate with the team, followed reluctantly by influential Clearlake Capital duo Behdad Eghbali and Jose Feliciano. Boehly and Clearlake have not always seen eye-to-eye this season but this is a ******* of relative stability after the club decided they would stick with Maresca regardless of the result of their last two matches of the season. Chelsea beat Nottingham Forest to qualify for the Champions League and won against Betis to add silverware. But Chelsea didn’t sell out their allocation in Poland, for what was the final of European club football’s third-tier competition, and fans will quickly move on if it is not backed up with both progress and further success next season. Maresca told **** after the match: “I feel good – but also the fans, they deserve that. They have been waiting a few years for that so they deserve it. “The club have invested a lot of money in the last two, three years so they are also waiting for results. Hopefully this can be a starting point. From tonight, from this season, building something important.” Substitute Kiernan Dewsbury-Hall said: “There’s a lot more to come from me. Getting a taste of silverware makes you more hungry.” Source link #Cole #Palmer #Chelsea #playmaker #inspires #Conference #League #final #win Pelican News View the full article at [Hidden Content]

Federal trade court blocks Trump from imposing sweeping tariffs under emergency powers law Federal trade court blocks Trump from imposing sweeping tariffs under emergency powers law WASHINGTON (AP) — A federal trade court on Wednesday blocked President Donald Trump from imposing sweeping tariffs on imports under an emergency-powers law. The ruling from a three-judge panel at the New York-based Court of International Trade came after several lawsuits arguing Trump has exceeded his authority, left U.S. trade policy dependent on his whims and unleashed economic chaos. The White House did not immediately respond to a message seeking comment. The Trump administration is expected to appeal. At least seven lawsuits are challenging the levies, the centerpiece of Trump’s trade policy. Tariffs must typically be approved by Congress, but Trump says he has the power to act because the country’s trade deficits amount to a national emergency. He imposed tariffs on most of the countries in the world at one point, sending markets reeling. The plaintiffs argue that the 1977 International Emergency Economic Powers Act (IEPPA) does not authorize the use of tariffs. Even if it did, they say, the trade deficit does not meet the law’s requirement that an emergency be triggered only by an “unusual and extraordinary threat.” The U.S. has run a trade deficit with the rest of the world for 49 consecutive years. Trump imposed tariffs on most of the countries in the world in an effort to reverse America’s massive and longstanding trade deficits. He earlier plastered levies on imports from Canada, China and Mexico to combat the ******** flow of immigrants and the synthetic opioids across the U.S. border. His administration argues that courts approved then-President Richard Nixon’s emergency use of tariffs in 1971, and that only Congress, and not the courts, can determine the “political” question of whether the president’s rationale for declaring an emergency complies with the law. Trump’s Liberation Day tariffs shook global financial markets and led many economists to downgrade the outlook for U.S. economic growth. So far, though, the tariffs appear to have had little impact on the world’s largest economy. ___ Associated Press writers Zeke Miller and Paul Wiseman contributed to this story. Source link #Federal #trade #court #blocks #Trump #imposing #sweeping #tariffs #emergency #powers #law Pelican News View the full article at [Hidden Content]