Cuts are expected to come from hire freezes, dismissing some probationary workers and by people taking up an offer to resign
The Washington Post reports that the Trump administration is planning additional tariffs on imports to the US running into “trillions” of dollars.
Speaking anonymously to the paper, a person described as familiar with the planning confirmed the sum involved would be in the “trillions” of dollars.
Continue reading...Canadian foreign minister condemns ‘unjustified’ trade war and condemns ‘Trump’s talks of annexing our country through economic coercion’
Congressional brinkmanship, including repeated near-misses with shutdowns and over the nation’s $36 trillion in debt, has contributed to global ratings agencies’ moves to downgrade the US federal government’s once-pristine credit rating, reports Reuters.
Democrats have long chided Republicans for threatening or voting for government shutdowns, and Republicans were quick to call them out for considering votes that could risk one.
Continue reading...Trump says Ice took the Palestinian student protester into custody after his executive order
Secretary of state Marco Rubio has announced that USAid will cancel the majority of its programs, while the rest will be folded into the state department.
Writing on X, Rubio said:
After a 6 week review we are officially cancelling 83% of the programs at USAID.
The 5200 contracts that are now cancelled spent tens of billions of dollars in ways that did not serve, (and in some cases even harmed), the core national interests of the United States.
Continue reading...Move comes even as Trump has tried to show that Musk’s cost-slashing agency doesn’t have the final say
The US Environmental Protection Agency (EPA) has issued new guidance directing that spending items greater than $50,000 now require approval from Elon Musk’s so-called “department of government efficiency” (Doge), even as Donald Trump began putting some distance between Musk’s reach and the power of government department heads – at least over job cuts.
“Any assistance agreement, contract or interagency agreement transaction [valued at] $50,000 or greater must receive approval from an EPA DOGE team member,” the EPA guidance says, according to documents obtained by the Associated Press. The EPA did not respond to a request from the news agency on Friday for comment.
Continue reading...Key presidential ally, whose agency has operated in secrecy, also makes claim – without evidence – of fraud at USAid
Elon Musk claimed in the Oval Office on Tuesday that his so-called “department of government efficiency” (Doge) was providing maximum transparency as it bulldozed its way through the federal government, remarks contradicted by the reality of how he has operated in deep secrecy.
The appearance from Musk was the first time he had taken questions from the news media since his arrival in Washington, and he used his time standing next to Donald Trump at the Resolute Desk to defend the aggressive cost-cutting measures the Doge team has pursued.
Continue reading...US president accused of ‘shifting goalposts’ by premier of Ontario for adding further tariffs on top of existing metal duties
Donald Trump has said he will announce new 25% tariffs on all steel and aluminum imports into the US on Monday that would affect “everybody’, including its largest trading partners Canada and Mexico, in another major escalation of his trade policy overhaul.
The US president, speaking to reporters on Air Force One on Sunday, also said he would announce reciprocal tariffs – raising US tariff rates to match those of trading partners – on Tuesday or Wednesday, which would take effect “almost immediately”. “And very simply, it’s, if they charge us, we charge them,” Trump said of the reciprocal tariff plan.
Continue reading...Members reportedly sought access to IT systems at agency that Project 2025 has called ‘harmful to US prosperity’
Staffers with Elon Musk’s “department of government efficiency” (Doge) reportedly entered the headquarters of the National Oceanic and Atmospheric Administration (Noaa) in Silver Spring, Maryland, and the Department of Commerce in Washington DC today, inciting concerns of downsizing at the agency.
“They apparently just sort of walked past security and said: ‘Get out of my way,’ and they’re looking for access for the IT systems, as they have in other agencies,” said Andrew Rosenberg, a former Noaa official who is now a fellow at the University of New Hampshire. “They will have access to the entire computer system, a lot of which is confidential information.”
Continue reading...Atsuko Sato announces death of her shiba inu, whose 2010 photo led her to be described as the ‘Mona Lisa of the internet’
The Japanese dog whose photo inspired a generation of oddball online jokes and the £18bn Dogecoin cryptocurrency beloved by Elon Musk has died, her owner said.
“She quietly passed away as if asleep while I caressed her,” Atsuko Sato wrote on her blog on Friday, thanking the fans of her shiba inu called Kabosu – the face of the ‘Doge’ meme.
Continue reading...Territory’s financial sector risks reputational damage and diplomatic sanctions if complex regulations of crypto hub fail
On the southern Mediterranean coast, nestled in the shadow of the Rock’s sheer limestone cliffs and its tangle of wild olive trees, the Gibraltar Stock Exchange (GSX) is quietly preparing for a corporate takeover that could have global consequences for the former naval garrison.
Less than half a mile away, next to the blue waters of Gibraltar’s mid-harbour marina, the peninsula’s regulators are reviewing a proposal that would prompt blockchain firm Valereum to buy the exchange in the new year – meaning the British overseas territory could soon host the world’s first integrated bourse, where conventional bonds can be traded alongside major cryptocurrencies such as bitcoin and dogecoin.
Continue reading...Fall comes amid warnings over speculation by novice investors in cryptocurrencies such as dogecoin
Bitcoin has posted its biggest one-day drop in almost two months, amid warnings that novice investors could suffer heavy losses from speculating in crypto assets such as “meme coin” dogecoin.
Bitcoin tumbled more than 11% on Sunday, dropping from about $62,000 (£45,000) to $55,000 – its lowest level since the end of March. Last week, the cryptocurrency had hit fresh record highs at nearly $65,000.
Continue reading...