Josh Boak, Author at The Rapid City Post

Canada's Prime Minister Mark Carney walks with President Donald Trump after a group photo at the G7 Summit, Monday, June 16, 2025, in Kananaskis, Canada. (AP Photo/Mark Schiefelbein)

Trump plans to hike tariffs on Canadian goods to 35%

July 11, 2025

Canadian Prime Minister Mark Carney says Canada will keep working toward a new trade framework with the United States despite U.S. President Donald Trump saying he’ll raise taxes on many imported goods from Canada to 35%. Trump’s move deepens a rift between two North American countries that have suffered a debilitating blow to their decades-old alliance. Trump’s letter Thursday to Carney is an aggressive increase to the top 25% tariff rates the Republican president first imposed in March after months of threats. Carney says through the current trade negotiations with the U.S., Canada has defended its workers and business. Stock market futures are down Friday, a sign Trump’s tariff letters may be concerning investors.

President Donald Trump attends a meeting with Israel's Prime Minister Benjamin Netanyahu in the Blue Room of the White House, Monday, July 7, 2025, in Washington. (AP Photo/Alex Brandon)

Trump’s previous tariff push terrified the world economy. He’s betting this time is different

July 8, 2025

The last time President Donald Trump rolled out tariffs this high, financial markets quaked, consumer confidence crashed and his popularity plunged. Only three months later, he’s betting this time is different. In his new round of tariffs being announced this week, Trump is essentially tethering the entire world economy to his instinctual belief that import taxes will deliver factory jobs and stronger growth in the U.S., rather than the inflation and slowdown predicted by many economists. There are three possible outcomes. Trump could prove most economic experts wrong and the tariffs could deliver growth as promised. Or he could retreat again on tariffs before their Aug. 1 start. Or he could damage the economy.

President Donald Trump speaks during an "Invest in America" roundtable with business leaders at the White House, Monday, June 9, 2025, in Washington. (AP Photo/Evan Vucci)

Trump’s tax bill could raise taxes on foreign companies, hurting investment from abroad

June 10, 2025

President Donald Trump likes to say he’s bringing in trillions of dollars in investments from foreign countries. But a provision in his tax cuts bill could cause international companies to avoid expanding into the United States. The House-passed version of the legislation would allow the federal government to impose taxes on foreign-parented companies and investors from countries judged to charge “unfair foreign taxes” on U.S. companies. A new analysis estimates that the provision would cost the U.S. 360,000 jobs and $55 billion annually over 10 years in lost GDP. The analysis estimates that the tax could cut a third off the economic growth anticipated from the overall tax cuts.

Office of Management and Budget director Russell Vought speaks to reporters at the White House, Thursday, May 22, 2025, in Washington. (AP Photo/Evan Vucci)

Trump formally asks Congress to claw back approved spending targeted by DOGE

June 3, 2025

The White House has officially asked Congress to claw back $9.4 billion in already approved spending. The process known as rescission will take funding away from programs targeted by Elon Musk’s Department of Government Efficiency. It requires President Donald Trump to get approval from Congress to return money that had previously been appropriated. Trump’s aides say the funding cuts target programs that promote liberal ideologies. The request to Congress is unlikely to meaningfully change the troublesome increase in the U.S. national debt. The Congressional Budget Office estimates the government is on track to spend roughly $7 trillion this year, with the rescission request equaling just 0.1% of that total.

President Donald Trump waves as he departs the White House, Friday, May 23, 2025, in Washington. (AP Photo/Jacquelyn Martin)

Trump’s big plans on trade and more run up against laws of political gravity, separation of powers

May 29, 2025

President Donald Trump’s big plans on trade, deportations and more are running up against the laws of political gravity and the separation of powers. On Wednesday, a New York court rejected the legal foundation of Trump’s most sweeping tariffs. The setback fit a broader pattern for a president who has advanced an extraordinarily expansive views of executive power. Federal courts have called out the lack of due process in some of Trump’s deportation efforts. His efforts to humble Harvard University and cut the federal workforce have encountered legal obstacles as well. The Trump White House insists it will prevail in the end.

President Donald Trump speaks during a swearing in ceremony for interim U.S. Attorney General for the District of Columbia Jeanine Pirro, Wednesday, May 28, 2025, in Washington. (AP Photo/Evan Vucci)

Trump rejects claim he’s ‘chickening out’ on tariffs just because he keeps changing rates

May 28, 2025

President Donald Trump wants the world to know he’s no “chicken” just because he’s repeatedly backed off high tariff threats. The U.S. president’s tendency to levy extremely high import taxes and then retreat has created what’s known as the “TACO” trade. It’s 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. Trump was visibly offended when asked about the phrase Wednesday. He said it’s not “chickening out,” it’s negotiation.

President Donald Trump silences his phone that rang twice as he was speaking to reporters after signing executive orders regarding nuclear energy in the Oval Office of the White House, Friday, May 23, 2025, in Washington, as Interior Secretary Doug Burgum and Defense Secretary Pete Hegseth watch. (AP Photo/Evan Vucci)

Trump threatens 50% tariffs on EU and 25% penalties on smart phones as his trade war intensifies

May 23, 2025

President Donald Trump is threatening a 50% tax on all imports from the European Union as well as a 25% tariff on smartphones unless the products are made in America. The threats were delivered over social media on Friday. They reflect Trump’s ability to disrupt the global economy with a burst of typing, as well as the reality that his tariffs aren’t producing the sufficient trade deals he’s seeking or the return of domestic manufacturing he’s promised to voters.

How much did Mideast countries promise to invest in the US? Trump keeps jacking up the number

May 20, 2025

President Donald Trump loves big numbers —- and he’s always happy to talk them up. After all, Trump years ago coined the phrase “truthful hyperbole” in his book “The Art of the Deal.” Over the last few days he has been steadily increasing the amount of money he says that countries in the Mideast pledged to invest in the U.S. when he visited the region last week. He didn’t provide underlying details. Based on statements from Trump and the White House, the figure has gone from $2 trillion last week to potentially $7 trillion as of Tuesday.

Josh Boak.

Trump plans to hike tariffs on Canadian goods to 35%

Trump’s previous tariff push terrified the world economy. He’s betting this time is different

Trump’s tax bill could raise taxes on foreign companies, hurting investment from abroad

Trump formally asks Congress to claw back approved spending targeted by DOGE

Trump’s big plans on trade and more run up against laws of political gravity, separation of powers

Trump rejects claim he’s ‘chickening out’ on tariffs just because he keeps changing rates

Trump threatens 50% tariffs on EU and 25% penalties on smart phones as his trade war intensifies

How much did Mideast countries promise to invest in the US? Trump keeps jacking up the number

Finance.

Contact

Sections

about Us