Republic News 24

Wealthy business leaders are turning on US President Donald Trump over his plan to impose a colossal set of tariffs on America’s trading partners, as losses mount on stock markets around the world. Billionaire investor Bill Ackman, who endorsed Trump’s 2024 presidential bid , warned Sunday that going ahead with the new tariffs was tantamount to launching an “economic nuclear war.” On Wednesday, Trump said he would impose significantly higher “reciprocal” tariffs on dozens of countries that have the highest trade imbalances with the United States. In a post on X, Ackman said “business investment will grind to a halt, (and) consumers will close their wallets” if the new levies do indeed come into force. “We will severely damage our reputation with the rest of the world that will take years and potentially decades to rehabilitate,” he added in the post, which was viewed 10.6 mill...

  Elon Musk may be taking a step back from his full-time gig at the Trump administration’s Department of Government Efficiency. But his companies are still benefiting from the unprecedented relationship between the world’s richest man and the sitting US president. That message was on full display in Saudi Arabia on Tuesday, where Musk was part of a program of meetings and conversations held with business leaders such as Nvidia CEO Jensen Huang and OpenAI CEO Sam Altman at the Saudi-US Investment Forum. But Musk, who has been referred to as Trump’s “first buddy,” held a special role in the conference. The billionaire CEO was the speaker chosen to appear just before President Donald Trump and Saudi Crown Prince Mohammed Bin Salman gave their remarks. In conversation with Saudi Communications and Information Minister Abdullah Alswaha, Musk revealed new business de...

  Elon Musk’s prominent role in President Donald Trump’s White House appears to be fading, but the tech billionaire’s brainchild — the budget-slashing Department of Government Efficiency — is poised to continue its work after his departure. In less than four months, the DOGE effort has become embedded across the government — from personnel in key positions, to work already underway to remake agencies’ sometimes decades-old software systems, to a government-wide push to build a master database of sensitive personal data that would speed up immigration enforcement and help identify fraud in government payments. Those staffers could be in place for months or years to come. Some are temporary — “ special government employees,” the same title as Musk, and, like him, limited to working 130 days; or on contracts through September 30, the end of the fiscal year. Others are on renewable one-year agreements. A...

One expert cited the famous military strategem ‘The Art of War’ to warn that Beijing will seek to slow-walk negotiations to gain the advantage.    With the United States and China agreeing to a temporary trade truce, experts caution that Beijing will try to drag its feet over the next three months to gain an upper hand over Washington. After May 10–11 talks in Switzerland, the United States agreed to lower most incremental tariffs on China to 30 percent from 145 percent, while China reduced its retaliatory tariffs on U.S. goods to 10 percent from 125 percent. The reductions will hold for 90 days as both sides continue negotiations to reach a broader deal.William Lee, chief economist at the Milken Institute, viewed the result as a tie between the two countries. “It’s a win on both sides. Nobody got the upper hand,” he recently told The Epoch Times. Related Stories Shipping News Gives Insight Into the Impact of Tariffs on China 5/14/2025 Shipping News Gives Insight Into the Im...

  ST. LOUIS — At least seven people died and authorities were searching from building to building for people who were trapped or hurt after severe storms including at least one possible tornado swept through Missouri. The storms were part of a severe weather system Friday that caused severe damage in Missouri, spawned tornadoes in Wisconsin, left hundreds of thousands without power in the Great Lakes region and brought a punishing heat wave to Texas. The storms Friday afternoon tore roofs off buildings, blew out windows, ripped bricks off siding and yanked up trees and power lines. St. Louis Mayor Cara Spencer confirmed five deaths in her city and said more than 5,000 homes were affected and about 100,000 customers remained without electricity on Friday night.   adds     "This is truly, truly devastating," Spencer said, adding that the city was in the process of declaring an emergency and an overnight curfew Friday had been put into place in the n...