Job growth for the month of May again beat expectations as 139,000 jobs were added to the American economy, and the unemployment rate remained steady, according to the latest report from the Bureau of Labor Statistics. 
The <a href="https://www.bls.gov/news.release/empsit.nr0.htm" target="_blank" rel="noopener">report</a>, released Friday, found that the private sector continued to add jobs while government employment declined. The unemployment rate did not change from April, remaining at 4.2%.
White House Press Secretary Karoline Leavitt celebrated the news, saying it reflected President Donald Trump’s successful economic policies. 
“President Trump’s America First Economic Agenda has created a BOOMING economy — jobs are up, unemployment is down, wages are increasing, and inflation is dead,” she <a href="https://x.com/PressSec/status/1930980549906063803">said</a> on social media. “More than 139,000 good jobs were added to the private sector in May, all accounted for by American-born workers. Americans should continue to Trust in President Trump, who continues to beat expectations.”
The 139,000 job growth was more than the 125,000 that had been projected by the Dow Jones estimate. Last month, job growth also <a href="https://www.dailywire.com/news/solid-april-jobs-report-shows-govt-employment-drops-as-private-sector-growth-beats-expectations" target="_blank" rel="noopener">exceeded expectations</a>, although the increase was revised down by 30,000 jobs in the latest report. 
<a href="https://get.dailywire.com/gift/?utm_medium=website&amp;utm_source=wisepops&amp;utm_campaign=dad&amp;utm_content=fathersdaygiftpopups" target="_blank" rel="noopener">Gift Dad an All Access Membership. Use code DAD40 at checkout to save 40%!</a>
Industries that saw the most growth were health care (62,000), leisure and hospitality (48,000), and social assistance (16,000). Federal government employment declined by 22,000. 
The Bureau of Labor Statistics added that there was little change in mining, oil and gas extraction, construction, manufacturing, wholesale trade, retail trade, transportation and warehousing, and the financial activities industries from the previous month. 
At the same time, average hourly pay increased 15 cents to $36.24 last month. 
“The small business economy is growing and the private economy is growing. This is exactly what Donald Trump wanted to do for reversing everything that Biden had done,” <a href="https://www.whitehouse.gov/articles/2025/06/trump-effect-higher-pay-for-american-workers/">said </a>Job Creators Network CEO Alfredo Ortiz in response to the report. “It’s so good to see that we’re actually creating private economy jobs again.”
The stock markets rose after the job report was released, with the S&amp;P 500, Nasdaq Composite, and Dow Jones Industrial Average rising by more than one percent.
&#8220;GREAT JOB NUMBERS, STOCK MARKET UP BIG! AT THE SAME TIME, BILLIONS POURING IN FROM TARIFFS!!!&#8221; Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/114636826069773755">posted</a> on Truth Social Friday morning.
In a series of other posts, Trump lauded the economy and urged the Federal Reserve to take action to cut interest rates.
&#8220;AMERICA IS HOT! SIX MONTHS AGO IT WAS COLD AS ICE! BORDER IS CLOSED, PRICES ARE DOWN. WAGES ARE UP!&#8221; Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/114636535351943737">wrote</a>.
In another post, he said that the Fed&#8217;s decision not to cut rates was costing the United States &#8220;a fortune.&#8221;
&#8220;If &#8216;Too Late&#8217; at the Fed would CUT, we would greatly reduce interest rates, long and short, on debt that is coming due. Biden went mostly short term,&#8221; Trump added in another <a href="https://truthsocial.com/@realDonaldTrump/posts/114636734825372318">post</a>. &#8220;There is virtually no inflation (anymore), but if it should come back, RAISE &#8216;RATE&#8217; TO COUNTER. Very Simple!!! He is costing our Country a fortune. Borrowing costs should be MUCH LOWER!!!&#8221;

Donald Trump Speaks At Turning Point Convention In Detroit, Michigan

‘America Is Hot’: Job Growth Again Beats Expectations

Bureau of Labor Statistics

Donald Trump

Economy

employment

Jobs

Karoline Leavitt

Politics

Unemployment

President Donald Trump&#8217;s tariffs have driven a massive drop in the trade deficit — going from nearly $140 billion in March to $61.6 billion in April.
According to the latest numbers, which were detailed during a Thursday morning broadcast on CNBC, the sharp drop in the trade deficit also fueled a significant bump in the Gross Domestic Product (GDP) — the Atlanta Fed GDP now was at 4.64%.
&#8220;The big news is there is how much it bolsters GDP — just look at Atlanta Fed GDP now, which is at 4.64%,&#8221; the anchor noted.
WATCH:
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
CNBC: In April, the U.S. trade deficit fell to $61.6 billion — cut by more than HALF compared to March&#39;s $138.3 billion.
&quot;The big news is there is how much it bolsters GDP — just look at Atlanta Fed GDP now, which is at 4.64%.&quot; <a href="https://t.co/9R8hHlC9d6">pic.twitter.com/9R8hHlC9d6</a>
&mdash; Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1930610746276172238?ref_src=twsrc%5Etfw">June 5, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
A New York Times report digging into some of the latest numbers indicated that the March trade deficit may have been slightly artificially inflated as imports surged to get ahead of the tariffs that everyone knew were coming. In addition, the NYT also noted the fact that the drop in the trade deficit almost exclusively reflected a decrease in imports — meaning that as production picked up domestically, that could also drive the deficit even lower.
President Trump celebrated the drop in the trade deficit one week earlier, playing video from another CNBC broadcast in the Oval Office.
&#8220;Personal income is up 0.8%. That is almost triple the expectation. The income numbers, really for the first four months of the year, they’re stellar. They’re really stellar. I mean, I could go back and look at the first four months of many different years, really very strong numbers,&#8221; anchor Rick Santelli said at the time.
&#8220;How the hell did they already fix the trade deficit? Or not fix it, but to cut it in half? That&#8217;s crazy,&#8221; Joe Kernen added.
&#8220;Yeah, I’ll tell you what, it really does call into question some of the conventional wisdoms. And you know it’s going to be interesting to see what happens next month, when we get this number, or we see some of the other numbers—like current accounts—see how they fared. Because I don’t know, I’ve been watching these numbers a long time. I don’t think I’ve ever seen the trade deficit cut in half for one month,&#8221; Santelli concluded.
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
Trump Shows Off CNBC Touting Tariffs: &quot;How The Hell Did They Cut Trade Deficit In Half In One Month?&quot;<a href="https://t.co/RxWqWZSXdQ">https://t.co/RxWqWZSXdQ</a> <a href="https://t.co/FAzREzstRk">pic.twitter.com/FAzREzstRk</a>
&mdash; RCP Video (@rcpvideo) <a href="https://twitter.com/rcpvideo/status/1928519212584009990?ref_src=twsrc%5Etfw">May 30, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

‘Cut By More Than Half’: CNBC Details Massive Tariff-Driven Drop In Trade Deficit

'Cut By More Than Half': CNBC Details Massive Tariff-Driven Drop In Trade Deficit

CNBC

Media

Tariffs

Trade War

Senate Minority Leader Chuck Schumer made an attempt at renaming the Republican-led One Big Beautiful Bill on Wednesday, and the wave of backlash was almost immediate.
Schumer declared that President Donald Trump and Republicans were &#8220;lying&#8221; about what the bill would actually do — and claimed that a better name for it would be the &#8220;Well, We&#8217;re All Going To Die Act.&#8221; He then proceeded to argue that passing the bill would strip health care from 14 million Americans, cut 11 million people off from accessible food, and fund &#8220;tax cuts for billionaires on the backs of families.&#8221;
WATCH:
<blockquote class="twitter-tweet">
UNHINGED: <a href="https://twitter.com/SenSchumer?ref_src=twsrc%5Etfw">@SenSchumer</a> says &#8220;WE&#8217;RE ALL GOING TO DIE&#8221; if we pass the largest tax cut in history, block illegals from taxpayer-funded health care, and cut the deficit.
These are NOT serious people. <a href="https://t.co/AFeiDuaYjR">pic.twitter.com/AFeiDuaYjR</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1930308888437403877?ref_src=twsrc%5Etfw">June 4, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
&#8220;Here&#8217;s the &#8216;We Are All Going To Die Act,'&#8221; Schumer read from his visual aid.
Critics quickly pointed out that if Americans died every time Democrats claimed that the passage of some Republican-led measure would kill them, most would have already been killed several times over.
&#8220;I&#8217;m already dead from Net Neutrality, climate change, sequestration, and building a wall,&#8221; one said.
<blockquote class="twitter-tweet">
I&#8217;m already dead from Net Neutrality, climate change, sequestration, and building a wall <a href="https://t.co/ITMUcnv5vU">https://t.co/ITMUcnv5vU</a>
— Sarah (@sarah_wxtx) <a href="https://twitter.com/sarah_wxtx/status/1930328460955922693?ref_src=twsrc%5Etfw">June 4, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
&#8220;I was murdered by the repeal of Net Neutrality,&#8221; another said.
<blockquote class="twitter-tweet">
I was murdered by the repeal of Net Neutrality <a href="https://t.co/6hoEh9SmAI">https://t.co/6hoEh9SmAI</a>
— Fusilli Spock (@awstar11) <a href="https://twitter.com/awstar11/status/1930333466446704709?ref_src=twsrc%5Etfw">June 4, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
&#8220;Doesn’t this act get old? Everyone was going to die if we repealed net neutrality. Passing a Georgia law that expanded voter access was going to bring back segregation. Passing tax cuts will kill everyone. Even the emotional value is gone because no one takes it seriously,&#8221; AG Hamilton posted.
<blockquote class="twitter-tweet">
Doesn’t this act get old?
Everyone was going to die if we repealed net neutrality. Passing a Georgia law that expanded voter access was going to bring back segregation. Passing tax cuts will kill everyone.
Even the emotional value is gone because no one takes it seriously. <a href="https://t.co/nZ8fQUt4yI">https://t.co/nZ8fQUt4yI</a>
— AG (@AGHamilton29) <a href="https://twitter.com/AGHamilton29/status/1930324886863417441?ref_src=twsrc%5Etfw">June 4, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
&#8220;It really is like the Reason video when they mocked these clowns for saying &#8216;people will die&#8217; anytime a Republican proposed anything,&#8221; <a href="https://x.com/ProfessorF/status/1930356764136092033">another said</a>, sharing the video.
<iframe loading="lazy" title="Remy: People Will Die!" width="500" height="281" src="https://www.youtube.com/embed/eXWhbUUE4ko?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
&#8220;No one should ever &#8211; ever &#8211; take these people seriously ever again ever,&#8221; CNN Republican pundit Scott Jennings concluded.
<blockquote class="twitter-tweet">
No one should ever &#8211; ever &#8211; take these people seriously ever again ever. <a href="https://t.co/x5epm89Qp5">https://t.co/x5epm89Qp5</a>
— Scott Jennings (@ScottJenningsKY) <a href="https://twitter.com/ScottJenningsKY/status/1930323003818090905?ref_src=twsrc%5Etfw">June 4, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Senate Minority Leader Chuck Schumer (D-NY)

Chuck Schumer Renames Big Beautiful Bill, And No One’s Amused: ‘These Are Not Serious People’

Chuck Schumer Renames Big Beautiful Bill, And No One's Amused: 'These Are Not Serious People'

Chuck Schumer

President Donald Trump said early Wednesday morning that Chinese President Xi Jinping is &#8220;very tough&#8221; and &#8220;extremely hard to make a deal with&#8221; as the United States attempts to advance trade talks with China.
While the president&#8217;s top trade officials have met with their Chinese counterparts, Trump has yet to sit down with Xi since imposing massive tariffs on Chinese imports. A senior White House official told <a href="https://www.cnbc.com/2025/06/02/trump-xi-china-trade-tariffs.html">CNBC</a> that Trump and Xi would likely speak &#8220;very soon,&#8221; potentially this week.
&#8220;I like President Xi of China, always have, and always will, but he is VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH!!!&#8221; Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/114623632387180206">wrote</a> on Truth Social.
Last week, Trump <a href="https://www.dailywire.com/news/trump-accuses-china-of-violating-trade-agreement-so-much-for-being-mr-nice-guy?author=Zach+Jewell&amp;category=News&amp;elementPosition=11&amp;row=0&amp;rowType=Vertical+List&amp;title=Trump+Accuses+China+Of+Violating+Trade+Agreement%3A+%E2%80%98So+Much+For+Being+Mr.+Nice+Guy%E2%80%99">accused</a> China of violating its 90-day trade agreement with the United States, while Treasury Secretary Scott Bessent <a href="https://www.youtube.com/watch?v=xdyXQv5WTYE">said</a> that the talks with China &#8220;are a bit stalled.&#8221;
“Because of this deal, everything quickly stabilized and China got back to business as usual. Everybody was happy!” the president said, referring to the 90-day pause on tariffs. “That is the good news!!! The bad news is that China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US. So much for being Mr. NICE GUY!”
Trump&#8217;s frustration with China likely stemmed from the Chinese government&#8217;s slow progress in complying with the 90-day trade truce that froze most tariffs. U.S. Trade Representative Jamieson Greer told CNBC last week that China was not fulfilling its promise to export rare earth minerals to the United States after restricting shipments in response to Trump’s tariffs.
“We haven’t seen the flow of some of those critical minerals as they were supposed to be doing,” Greer said, adding, “China continues to slow down and choke off things like critical minerals and rare Earth magnets.”
Newly appointed Ambassador to China, David Perdue, met with Chinese Foreign Minister Wang Yi on Tuesday. During their discussion, Yi accused the United States of imposing &#8220;a series of negative measures for groundless reasons, infringing upon China&#8217;s legitimate rights and interests,&#8221; according to a <a href="https://english.www.gov.cn/news/202506/04/content_WS683fa6f3c6d0868f4e8f3109.html">readout</a> from the Chinese government. Perdue said that during the meeting, he &#8220;emphasized President Trump&#8217;s priorities on trade, fentanyl, and illegal immigration,&#8221; adding that &#8220;communication is vital&#8221; for the U.S.-China relationship.
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
In a meeting today with Central Foreign Affairs Commission Office Director and Foreign Minister Wang Yi, I emphasized President Trump&#39;s priorities on trade, fentanyl, and illegal immigration. Communication is vital to the 🇺🇸-🇨🇳 relationship. <a href="https://t.co/RszJpF6ItB">pic.twitter.com/RszJpF6ItB</a>
&mdash; U.S. Ambassador to China David Perdue (@USAmbChina) <a href="https://twitter.com/USAmbChina/status/1929922392089919653?ref_src=twsrc%5Etfw">June 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Bessent <a href="https://www.cbsnews.com/news/treasury-secretary-scott-bessent-trade-trump-xi-conversation/">told</a> CBS News in an interview on Sunday that he remains &#8220;confident&#8221; that the U.S.-China trade talks will be &#8220;ironed out.&#8221;
&#8220;The fact that they are withholding some of the products that they agreed to release during our agreement — maybe it&#8217;s a glitch in the Chinese system, maybe it&#8217;s intentional,&#8221; Bessent said. &#8220;We&#8217;ll see after the president speaks with the party chairman.&#8221;

Donald Trump/Xi Jinping

Trump Says Xi Is ‘Extremely Hard To Make A Deal With’ As China Trade Negotiations Stall

China

Communist China

Executive

Xi Jinping

President Donald Trump’s tariffs on steel and aluminum imports jumped up to 50% on Wednesday as he continues to push for American trading partners to propose new trade deals to avoid heightened levies.
In an executive order signed Tuesday, Trump said it was necessary to double steel and aluminum tariffs for national security purposes. The hike comes as the White House <a href="https://www.dailywire.com/news/trump-warns-trade-partners-that-deadline-for-new-proposals-looms-friendly-reminder?author=Tim+Pearce&amp;category=News&amp;elementPosition=3&amp;row=0&amp;rowType=Vertical+List&amp;title=Trump+Warns+Trade+Partners+That+Deadline+For+New+Proposals+Looms%3A+‘Friendly+Reminder’">gave</a> a Wednesday deadline for American trading partners to submit counterproposals to the &#8220;Liberation Day&#8221; tariffs Trump imposed back in April. 
“In my judgment, the increased tariffs will more effectively counter foreign countries that continue to offload low-priced, excess steel and aluminum in the United States market and thereby undercut the competitiveness of the United States steel and aluminum industries,” Trump wrote in the executive order. “I have determined that increasing the previously imposed tariffs will provide greater support to these industries and reduce or eliminate the national security threat posed by imports of steel and aluminum articles and their derivative articles.” 
Trump first announced last week that he would take action to increase the tariffs on steel and aluminum, saying it would help the industry and American workers. 
“Our steel and aluminum industries are coming back like never before. This will be yet another BIG jolt of great news for our wonderful steel and aluminum workers,” he <a href="https://truthsocial.com/@realDonaldTrump/posts/114599330494282325">said</a> in a Truth Social post after a speech at a steel plant in Pennsylvania on Friday.
Last month, Trump <a href="https://www.dailywire.com/news/made-in-america-trump-says-u-s-steel-will-remain-in-pittsburgh-partner-with-japanese-company?author=Zach+Jewell&amp;category=News&amp;elementPosition=24&amp;row=0&amp;rowType=Vertical+List&amp;title=‘Made+In+America’%3A+Trump+Says+U.S.+Steel+Will+Remain+In+Pittsburgh%2C+Partner+With+Japanese+Company" target="_blank" rel="noopener">announced</a> that U.S. Steel, once the largest steel company in the world, would partner with the Japanese company Nippon Steel. U.S. Steel, which has struggled in recent years, was set to be sold to the Japanese company before the deal was blocked by former President Joe Biden. The company will remain headquartered in Pittsburgh, and Trump said the partnership would result in 70,000 jobs. 
The tariff increases come after White House Press Secretary Karoline Leavitt said American trading partners had been reminded that the deadline to propose new trade agreements with the United States was on Wednesday, saying &#8220;the president expects good deals,&#8221; adding, &#8220;And we are on track for that, I will emphasize.&#8221; 
Most of Trump’s reciprocal tariffs have been paused until July 8 to allow time for negotiations.
 One major trade deal with the United Kingdom has already been announced, but talks with China have been rocky. After agreeing to significantly lower tariffs, Trump accused the communist country of violating their agreement. 
Trump said Wednesday on Truth Social that Chinese President Xi Jinping was being difficult in negotiations. 
“I like President XI of China, always have, and always will, but he is VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH!!!”

President Trump Holds Rally At US Steel Near Pittsburgh

Trump Doubles Tariffs On Steel And Aluminum Imports As Trade Deadline Hits

Steel industry

trade

The United States has notified trading partners of a Wednesday deadline to submit proposals for new deals to avoid heightened tariffs, Press Secretary Karoline Leavitt has confirmed.
The Office of the United States Trade Representative “sent this letter to all of our trading partners just to give them a friendly reminder that the deadline is coming up,” Leavitt said at a White House press briefing on Tuesday.
Leavitt added that President Donald Trump’s trade team – led by Trade Ambassador Jamieson Greer, Treasury Secretary Scott Bessent, and Commerce Secretary Howard Lutnick – is “in talks with many of our key trading partners around the globe.”
“This letter was simply to remind these countries that the deadline is approaching, and the president expects good deals. And we are on track for that, I will emphasize,” the press secretary added.
Leavitt’s comments confirm an earlier <a href="https://www.reuters.com/business/us-pushes-countries-best-offers-by-wednesday-tariff-deadline-looms-2025-06-02/">Reuters</a> report that the U.S. Trade Representative sent letters to trading partners warning of the upcoming deadline.
On April 2, Trump announced “Liberation Day” and rolled out substantial tariff hikes on dozens of countries while complaining about the United States’ trade deficit and unfair trade practices used against the United States. The president paused the tariffs for 90 days on April 9 until July 8 to give affected nations a chance to negotiate for new trade agreements.
<a href="https://get.dailywire.com/subscribe/plus/?utm_medium=website&amp;utm_source=editorial&amp;utm_campaign=memorial&amp;utm_content=editorialmemorialday&amp;_gl=1*1qdq03s*_gcl_au*MTYyNDg0MTE0OS4xNzQxODk4NTMz*_ga*MTEzOTk1NjkxNi4xNzI2MzI1MDQz*_ga_CZKR9ZYKJP*czE3NDgzNzg2NDgkbzEwMDMkZzEkdDE3NDgzODEwMTckajU4JGwwJGgw" target="_blank" rel="noopener">Get 40% Off New DailyWire+ Annual Memberships</a>
Leavitt said that trade agreements will be negotiated and finalized on a case-by-case basis based on the unique circumstances of each trading partner. Each deal could contain various exemptions and reprieves, such as <a href="https://www.whitehouse.gov/fact-sheets/2025/05/fact-sheet-u-s-uk-reach-historic-trade-deal/">lowering</a> the tariff on the first 100,000 cars imported from the United Kingdom to 10% from 25%.
“Each country has unique advantages, unique challenges based on their markets and what they export to us and what we export to them,” said Leavitt. “That’s why the president smartly advised his trade team to engage in tailor-made dealmaking. We saw that with the United Kingdom and we will see that with other countries, as well.”
Last month, the United States and United Kingdom announced the outline of a trade deal and hailed it as the first trade deal since Trump’s “Liberation Day” announcement.
Trump’s tariff regime is under review in the courts. The New York-based Court of International Trade ruled last month that Trump’s sweeping “Liberation Day” tariffs were outside the bounds of the president&#8217;s authority. An appeals court temporarily <a href="https://www.dailywire.com/news/appeals-court-puts-trumps-sweeping-liberation-day-tariffs-back-in-place">reinstated</a> Trump’s tariffs the next day while a series of legal challenges continued to wind through the court system.
Trump&#8217;s tariff announcements have caused chaos in markets, with stock prices swinging wildly on news of tariffs, tariff pauses, trade deals, and other related issues.
<iframe loading="lazy" title="WATCH LIVE: White House Press Briefing June 3, 2025 | FOX 5 News" width="500" height="281" src="https://www.youtube.com/embed/V8u1lTQx5uY?start=1769&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>

Trump Warns Trade Partners That Deadline For New Proposals Looms: ‘Friendly Reminder’

Global Politics

White House

World

According to a Reuters <a href="https://archive.is/lUgfe">report</a>, Disney is preparing to conduct mass layoffs that will affect hundreds of employees across various departments, including film and TV, publicity, casting, development, and corporate finance.
Reps for the entertainment company have declined to comment, and no exact numbers have been released yet.
This is just the latest in a series of layoffs over recent years. Disney laid off nearly 200 television and ABC News operations employees earlier this year after cutting ABC News and local station staff in October. In September 2024, an additional 300 people were let go, per <a href="https://variety.com/2025/tv/news/disney-mass-layoffs-tv-film-finance-departments-1236415786/">Variety</a>.
Disney cut 7,000 jobs in 2023 alone as it tried to save $5.5 billion in costs, Reuters reported.
During layoffs in 2023, company CEO Bob Iger said, “There will no doubt be challenges ahead as we continue building the structures and functions that will enable us to be successful moving forward.”
“In tough moments, we must always do what is required to ensure Disney can continue delivering exceptional entertainment to audiences and guests around the world, now, and long into the future,” he <a href="https://www.dailywire.com/news/disney-will-begin-mass-layoffs-this-week-ceo-announces">continued</a>.
Critics are quick to point out that Disney has had several big-budget flops recently, including the latest disaster, “Snow White.” The live-action remake is estimated to have cost the company approximately $115 million, based on a $410 million budget, including marketing, but it only earned a worldwide box office gross of $194.7 million. 
The film had multiple controversies, including a total change to the storyline and controversial statements made by Rachel Zegler, the actress playing the titular role. 
Many fans blame Disney’s downfall on increasingly leftist messaging, which Iger addressed during a shareholder meeting last April. When asked about Disney&#8217;s &#8220;wokeness,&#8221; the exec <a href="https://variety.com/2023/tv/news/disney-bob-iger-slams-ron-desantis-disney-florida-1235571743/">replied</a>, &#8220;I&#8217;m sensitive to that.&#8221;
&#8220;Our primary mission needs to be to entertain and then through our entertainment to continue to have a positive impact on the world. And I&#8217;m very serious about that. It should not be agenda-driven,&#8221; Iger added.

Disney

Disney Layoffs Will Affect Hundreds Of Employees In TV, Film, Corporate Finance: Report

Business

Entertainment

layoffs

With the Republican-led One Big Beautiful Bill over its first major hurdle in the U.S. House, Democrats and media are making sure the knives are out at every opportunity lest it pass the Senate and give President Donald Trump another win.
For those who don&#8217;t spend their Sunday mornings glued to the television — and their Sunday afternoons attempting to dig through a week&#8217;s worth of network and cable news media spin — The Daily Wire has compiled a short summary of what you may have missed.
Discussion regarding what the bill will and won’t cut — particularly with regard to Medicaid — took center stage on several broadcasts as Democrats and show hosts alike insisted people would lose health care coverage if it passed. The bill’s defenders argued that anyone stripped of coverage by this bill — namely illegal immigrants and those who were receiving payments through fraudulent means — should not have been getting Medicaid coverage in the first place.
On ABC News’ “This Week,” former Republican National Committee (RNC) Chairman Reince Priebus defended the measure, saying that Medicaid had become bloated in recent years but that the cuts being discussed were targeted to remove benefits going to people who were in the United States illegally.
Former Democratic National Committee (DNC) Chair Donna Brazile pressed the point by first claiming that the Trump administration was cutting aid across the board, particularly to areas hit by recent storms — and she argued that the American people would not be pleased with the &#8220;bone-crushing&#8221; changes.
&#8220;We had 50 million people on Medicaid in 2011. Today we’ve got 80 million people on Medicaid. This bill doesn&#8217;t cut Medicaid, he said. &#8220;It says that for illegal immigrants, there will be cuts.&#8221;
<blockquote class="twitter-tweet">
On GOP-led budget bill, former RNC chair <a href="https://twitter.com/Reince?ref_src=twsrc%5Etfw">@Reince</a> Priebus said: “We had 50 million people on Medicaid in 2011. Today we’ve got 80 million people on Medicaid. This bill doesn&#8217;t cut Medicaid &#8230; It says that for illegal immigrants, there will be cuts.&#8221; <a href="https://t.co/qjCkcbK2qg">https://t.co/qjCkcbK2qg</a> <a href="https://t.co/1qfVKhXEae">pic.twitter.com/1qfVKhXEae</a>
— This Week (@ThisWeekABC) <a href="https://twitter.com/ThisWeekABC/status/1929198183277600981?ref_src=twsrc%5Etfw">June 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The New York Times&#8217; national correspondent Astead Herndon said that Democrats were leaning in to what they saw as disappointment among Trump supporters because he&#8217;d been so focused on getting the budget bill over the line. He went on to claim that there was &#8220;a sense that he is not actually delivering on the core promises&#8221; — but he left out the fact that the One Big Beautiful Bill represents the fulfillment of major campaign promises such as &#8220;no tax on tips&#8221; and the permanent extension of the tax rates implemented under Trump&#8217;s 2017 Tax Cuts and Jobs Act.
<blockquote class="twitter-tweet">
NYT’s <a href="https://twitter.com/AsteadWH?ref_src=twsrc%5Etfw">@AsteadWH</a> said some of Pres. Trump&#8217;s supporters are surprised “about the things that he has been focusing on&#8221; like tariffs or the spending bill, adding that there&#8217;s a &#8220;sense that he is not actually delivering on the core promises.” <a href="https://t.co/naOG3dmK1b">https://t.co/naOG3dmK1b</a> <a href="https://t.co/LE58bUd94u">pic.twitter.com/LE58bUd94u</a>
— This Week (@ThisWeekABC) <a href="https://twitter.com/ThisWeekABC/status/1929199711711322544?ref_src=twsrc%5Etfw">June 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Brazile also brought billionaire entrepreneur Elon Musk into the conversation, saying that despite his announcement that he&#8217;d be stepping away from his role in the Trump administration, he had already done more damage than could easily be undone.
&#8220;Elon Musk may have walked away from his temporary special government job, but no one will forget the harm that he has done to not only America&#8217;s reputation across the world, but also the harm that he&#8217;s done to the American people,&#8221;she claimed.
<blockquote class="twitter-tweet">
“Elon Musk may have walked away from his temporary special government job, but no one will forget the harm that he has done to not only America&#8217;s reputation across the world, but also the harm that he&#8217;s done to the American people,” <a href="https://twitter.com/donnabrazile?ref_src=twsrc%5Etfw">@DonnaBrazile</a> said. <a href="https://t.co/88pTxxsTQQ">https://t.co/88pTxxsTQQ</a> <a href="https://t.co/pVk9msZd0L">pic.twitter.com/pVk9msZd0L</a>
— This Week (@ThisWeekABC) <a href="https://twitter.com/ThisWeekABC/status/1929204844448952549?ref_src=twsrc%5Etfw">June 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
On CBS News&#8217; &#8220;Face the Nation,&#8221; anchor Margaret Brennan highlighted the fact that the Senate — if it passed the One Big Beautiful Bill at all — was likely to make changes, and she spoke with Treasury Secretary Scott Bessent about how those changes might be received.
Bessent outlined the items that he said &#8220;have to stay in&#8221; — specifically: no tax on tips, no tax on overtime, no tax on Social Security, deductibility of auto loans for American-made automobiles — and made it clear that it was not his call, but President Trump&#8217;s. &#8220;They&#8217;re not necessarily my red lines. The president has his campaign promises that he wants to fulfill for working Americans,&#8221; he said.
<blockquote class="twitter-tweet">
President Trump’s “big, beautiful bill” will be taken up next in the Senate — with some changes expected. Treasury Secretary Scott Bessent says there are some items that &#8220;have to stay in&#8221; — no tax on tips, no tax on overtime, no tax on Social Security, deductibility of auto loans… <a href="https://t.co/MpAxXs2NBS">pic.twitter.com/MpAxXs2NBS</a>
— Face The Nation (@FaceTheNation) <a href="https://twitter.com/FaceTheNation/status/1929221177945272465?ref_src=twsrc%5Etfw">June 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Senator Rand Paul (R-KY) spoke with Brennan about the bill, which he opposes in its current form, saying that in his mind, &#8220;the math doesn&#8217;t really add up.&#8221; Paul has also vocally opposed Trump&#8217;s willingness to use tariffs as leverage to bring foreign nations to the table regarding trade agreements.
<blockquote class="twitter-tweet">
Sen. Rand Paul (R-KY) told &#8220;Face The Nation&#8221; on Sunday that &#8220;the math doesn&#8217;t really add up&#8221; on the cost of President Trump&#8217;s &#8220;one big, beautiful bill,&#8221; while outlining his opposition as the legislation moves to the Senate this week. <a href="https://t.co/p7VFMlpZcN">https://t.co/p7VFMlpZcN</a>
— Face The Nation (@FaceTheNation) <a href="https://twitter.com/FaceTheNation/status/1929251077364322647?ref_src=twsrc%5Etfw">June 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Paul also said that if a provision raising the debt ceiling was removed, he would likely support the measure. &#8220;I would be very surprised if the bill at least is not modified in a good direction,&#8221; he said of possible Senate changes.
<blockquote class="twitter-tweet">
Sen. Rand Paul (R-KY) says he thinks there are now four Senate Republicans who would vote to block President Trump&#8217;s &#8220;big, beautiful bill,&#8221; and &#8220;I would be very surprised if the bill at least is not modified in a good direction.&#8221;
Paul adds that he would likely support the bill… <a href="https://t.co/2VDikZ8hjZ">pic.twitter.com/2VDikZ8hjZ</a>
— Face The Nation (@FaceTheNation) <a href="https://twitter.com/FaceTheNation/status/1929199658779455997?ref_src=twsrc%5Etfw">June 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
On CNN&#8217;s &#8220;State of the Union,&#8221; anchor Dana Bash circled back to the idea of Medicaid cuts coming from the bill&#8217;s passage during an interview with OMB Director Russell Vought — and she cited Senator Josh Hawley (R-MO) and his comments suggesting that there would be cuts to the program.
&#8220;No one will lose coverage as a result of this bill,&#8221; Vought said.
&#8220;That&#8217;s not what Josh Hawley, who is not exactly a liberal Democrat, said. He said, &#8216;It&#8217;s wrong to cut health care for the working poor, and that&#8217;s what we&#8217;re talking about here with Medicaid,'&#8221; she said.
&#8220;Well, we continue to work with people in the Senate as to working them through with the specifics of the bill, what it does and what it doesn&#8217;t do,&#8221; Vought pushed back.
<blockquote class="twitter-tweet">
VOUGHT: “No one will lose coverage as a result of this bill.”
BASH: “That&#8217;s not what Josh Hawley, who is not exactly a liberal Democrat, said. He said, ‘It&#8217;s wrong to cut health care for the working poor, and that&#8217;s what we&#8217;re talking about here with Medicaid.’”
VOUGHT: “Well,… <a href="https://t.co/1w99EWULm9">pic.twitter.com/1w99EWULm9</a>
— State of the Union (@CNNSOTU) <a href="https://twitter.com/CNNSOTU/status/1929193721196609694?ref_src=twsrc%5Etfw">June 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Bash also brought in House Minority Leader Hakeem Jeffries (D-NY), who blasted the bill outright: &#8220;Trump&#8217;s one, big ugly bill narrowly escaped the House of Representatives. And we&#8217;re going to continue to press our case across the country, partner with Senate Democrats in making clear to the American people the type of damage that this bill would do if it ever became law.&#8221;
<blockquote class="twitter-tweet">
.<a href="https://twitter.com/RepJeffries?ref_src=twsrc%5Etfw">@RepJeffries</a> says Democrats “can’t let our foot off the gas pedal” in opposing Trump’s tax and spending cut bill:
“Trump&#8217;s one, big ugly bill narrowly escaped the House of Representatives. And we&#8217;re going to continue to press our case across the country, partner with Senate… <a href="https://t.co/ikJ5aeUu4s">pic.twitter.com/ikJ5aeUu4s</a>
— State of the Union (@CNNSOTU) <a href="https://twitter.com/CNNSOTU/status/1929173562033619424?ref_src=twsrc%5Etfw">June 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Spin Cycle: To Deal Or Not To Deal — On Tariffs, Trade, And One Big Beautiful Bill

ABC News

CBS News

NBC News

U.S. Senate

Treasury Secretary Scott Bessent challenged CBS journalist Margaret Brennan on Sunday over the potential inflationary impact of President Donald Trump&#8217;s tariffs.
In a &#8220;Face the Nation&#8221; <a href="https://www.cbsnews.com/news/scott-bessent-treasury-secretary-face-the-nation-06-01-2025/" target="_blank" rel="noopener">interview</a>, Brennan insisted &#8220;the reality is there will either be less inventory or things at higher prices, or both.&#8221; Bessent shot back, <a href="https://www.cbsnews.com/news/scott-bessent-treasury-secretary-face-the-nation-03-02-2025/" target="_blank" rel="noopener">alluding</a> to a previous conversation they had in March, days before Trump unleashed his &#8220;Liberation Day&#8221; tariffs upon the world.
&#8220;Margaret, when we were here in March, you said there was going to be big inflation. There hasn&#8217;t been any inflation,&#8221; Bessent said. &#8220;Actually, the inflation numbers are the best in four years. So why don&#8217;t we stop trying to say this could happen, and wait and see what does happen.&#8221;
<blockquote class="twitter-tweet" data-media-max-width="560">
.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a>: &#8220;When we were here in March, you said there was going to be big inflation. There hasn&#8217;t been any inflation. Actually, the inflation numbers are the best in four years. So why don&#8217;t we stop trying to say this COULD happen — wait and see what DOES happen.&#8221; 🔥 <a href="https://t.co/1LeTZf2UX1">pic.twitter.com/1LeTZf2UX1</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1929188418249965629?ref_src=twsrc%5Etfw">June 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Earlier, Brennan told Bessent that when he was on the program in March, the two of them were &#8220;trying to gauge&#8221; how American consumers might be affected by the tariffs. She then asked the Cabinet official where he is anticipating price increases.
&#8220;We wanted to make sure that there aren&#8217;t price increases, Margaret. And thus far, there have been no price increases. Everything has been alarmist,&#8221; Bessent said, adding that the &#8220;inflation numbers are actually dropping.&#8221;
<blockquote class="twitter-tweet" data-media-max-width="560">
.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a>: &#8220;We wanted to make sure that there aren&#8217;t price increases, Margaret — and thus far, there have been no price increases. Everything has been alarmist. The inflation numbers are actually dropping. We saw the first drop in inflation in four years.&#8221; <a href="https://t.co/asuc8YnHYZ">pic.twitter.com/asuc8YnHYZ</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1929187165830869432?ref_src=twsrc%5Etfw">June 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
A couple of weeks ago, the Labor Department <a href="https://www.dailywire.com/news/inflation-hits-lowest-point-in-over-4-years-as-april-report-better-than-expected" target="_blank" rel="noopener">released</a> data showing that inflation hit its lowest point — 2.3% — in four years, as Trump pursues trade deals with China and other countries hit by tariffs.
Brennan pressed Bessent on retailers such as Walmart, Best Buy, and Target <a href="https://www.cnbc.com/2025/05/31/trump-tariffs-here-are-the-retailers-raising-prices.html" target="_blank" rel="noopener">raising prices</a>. In response, Bessent noted that other companies, including <a href="https://www.axios.com/2025/05/20/home-depot-stock-prices-tariffs" target="_blank" rel="noopener">Home Depot</a> and Amazon, have taken a different tack. And he pointed out, &#8220;I know what the South China Morning Post wrote within the past 24 hours that 65% — 65%! — of the tariffs will likely be eaten by the Chinese producers.&#8221;
&#8220;So are there five or eight areas that you have identified, as you said back in March, where American consumers will be able to have lower prices, or should be warned of higher prices?&#8221; Brennan asked.
<a href="https://get.dailywire.com/subscribe/plus/?utm_medium=website&amp;utm_source=editorial&amp;utm_campaign=memorial&amp;utm_content=editorialmemorialday&amp;_gl=1*1qdq03s*_gcl_au*MTYyNDg0MTE0OS4xNzQxODk4NTMz*_ga*MTEzOTk1NjkxNi4xNzI2MzI1MDQz*_ga_CZKR9ZYKJP*czE3NDgzNzg2NDgkbzEwMDMkZzEkdDE3NDgzODEwMTckajU4JGwwJGgw" target="_blank" rel="noopener">Get 40% Off New DailyWire+ Annual Memberships</a>
&#8220;Well, a lot of it&#8217;s already working its way through the system,&#8221; Bressent replied. &#8220;So we&#8217;ve seen a substantial decrease in gasoline and energy prices. So that&#8217;s down 20% year over year. We&#8217;ve seen the food prices go down, these notorious egg prices. Through the good work of President Trump and [Agriculture] Secretary [Brooke] Rollins, egg prices have collapsed. So we&#8217;re seeing more and more.&#8221;
He added: &#8220;And what we want to do is even that out across all sections of the economy. So inflation has been very tame. Consumer earnings were up 0.8% last month, which is a gigantic increase for one month. So real earnings minus low inflation is great for the American people, and that&#8217;s what we&#8217;re seeing.&#8221;
Brennen also questioned Bessent about the &#8220;One Big, Beautiful Bill&#8221; that passed through the GOP-led House and is now under consideration by the Republican-controlled Senate.
&#8220;In it is increase or suspension to the debt limit that you need delivered on by mid-July. How close of a brush with default could this be, given how massive some of the Senate changes are expected to be to the other parts of the bill?&#8221; Brennan asked.
&#8220;Well, first of all, Margaret, I will say the United States of America is never going to default. That is never going to happen. &#8230; We are on the warning track and we will never hit the wall,&#8221; Bessent said, adding later, &#8220;We don&#8217;t give out the X date because we use that to move the bill forward.&#8221;
<iframe loading="lazy" title="Scott Bessent &quot;confident&quot; U.S.-China trade details &quot;will be ironed out&quot; when Trump, Xi talk" width="500" height="281" src="https://www.youtube.com/embed/jTK0fDt9K78?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>

US Treasury Secretary Scott Bessent Interview

Treasury Secretary Busts ‘Alarmist’ Inflation Predictions

Inflation

Margaret Brennan

Scott Bessent

Treasury Department

Personal income increased by 0.8% in April, well ahead of the forecasted 0.3%, CNBC <a href="https://www.cnbc.com/2025/05/30/inflation-rate-slipped-to-2point1percent-in-april-lower-than-expected-feds-preferred-gauge-shows.html#:~:text=Personal%20income%20surged%200.8%25%2C%20a,inflation%20components%2C%20increased%200.4%25.">reported</a> on Friday.
In an X post on Friday, the White House’s Rapid Response account posted a report by CNBC’s Rick Santelli in which he showed the data that reveals the 0.8% increase.
<blockquote class="twitter-tweet">
CNBC: Personal income increased 0.8% in April — &#8220;almost TRIPLE the expectations.&#8221; 🔥
&#8220;They&#8217;re powerful numbers — up 0.6% in January, up 0.7% in February, up 0.5% last month, up 0.8% this month. This is a GREAT four-month start to any year.&#8221; <a href="https://t.co/s1Rx1KAYFl">pic.twitter.com/s1Rx1KAYFl</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1928436481044910168?ref_src=twsrc%5Etfw">May 30, 2025</a></blockquote>
“Personal income is up eight-tenths of a percent,” Santelli states. “That is almost triple the expectations. … When you look at income for the first four months of the year, they’re powerful numbers. Up six-tenths in January, up seven-tenths in February, up a half of 1% last month, and up eight-tenths this month. This is a great four month start to any year.”
Per the U.S. Bureau of Economic Analysis, personal income <a href="https://www.bea.gov/news/2025/personal-income-and-outlays-april-2025#:~:text=Personal%20income%20increased%20%24210.1%20billion,U.S.%20Bureau%20of%20Economic%20Analysis">increased</a> by $210.1 billion in April. Disposable personal income (DPI) increased by $189.4 billion, which is also 0.8%, and personal consumption expenditures (PCE) increased by $47.8 billion, which is 0.2%.
<a href="https://get.dailywire.com/subscribe/plus/?utm_medium=website&amp;utm_source=editorial&amp;utm_campaign=memorial&amp;utm_content=editorialmemorialday&amp;_gl=1*1qdq03s*_gcl_au*MTYyNDg0MTE0OS4xNzQxODk4NTMz*_ga*MTEzOTk1NjkxNi4xNzI2MzI1MDQz*_ga_CZKR9ZYKJP*czE3NDgzNzg2NDgkbzEwMDMkZzEkdDE3NDgzODEwMTckajU4JGwwJGgw" target="_blank" rel="noopener">Get 40% Off New DailyWire+ Annual Memberships</a>
In spite of this, consumer spending slowed, showing just a 0.2% increase in April. This is in line with the consensus, but is significantly less than its 0.7% increase in March. Consumers also showed more wary spending habits, as April’s personal savings were $1.12 trillion and the personal saving rate was 4.7%.
“The increase in current-dollar personal income in April primarily reflected increases in government social benefits to persons and in compensation,” the Bureau <a href="https://www.bea.gov/news/2025/personal-income-and-outlays-april-2025#:~:text=Personal%20income%20increased%20%24210.1%20billion,U.S.%20Bureau%20of%20Economic%20Analysis">wrote</a>. “The $47.8 billion increase in current-dollar PCE in April reflected an increase of $55.8 billion in spending on services that was partly offset by a decrease of $8.0 billion in spending for goods.”
In his report, Santelli revealed the impressive news that “eight-tenths is the strongest month-over-month jump since May of 2021, when it was 1.9%.”

Cash

White House Celebrates Increase In Americans’ Personal Income: ‘Powerful Numbers’

Money

Trump Administration

U.S.

President Donald Trump said on Friday that China &#8220;HAS TOTALLY VIOLATED ITS AGREEMENT&#8221; with the United States as the administration continues to negotiate with the communist country on a larger trade deal.
Trump said that despite his efforts to &#8220;save&#8221; China from &#8220;a very bad situation,&#8221; the Chinese government did not abide by its deal with the United States. The president did not specify how China broke the agreement, but Trump&#8217;s top trade officials have said that China is slowing down trade talks and failing to fulfill its promises from the 90-day tariff truce struck between the two countries earlier this month.
&#8220;Two weeks ago China was in grave economic danger! The very high Tariffs I set made it virtually impossible for China to TRADE into the United States marketplace which is, by far, number one in the World. We went, in effect, COLD TURKEY with China, and it was devastating for them. Many factories closed and there was, to put it mildly, &#8216;civil unrest.&#8217; I saw what was happening and didn’t like it, for them, not for us. I made a FAST DEAL with China in order to save them from what I thought was going to be a very bad situation, and I didn’t want to see that happen,&#8221; Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/114596705340367716" target="_blank" rel="noopener">posted</a> on Truth Social.
&#8220;Because of this deal, everything quickly stabilized and China got back to business as usual. Everybody was happy!&#8221; the president added. &#8220;That is the good news!!! The bad news is that China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US. So much for being Mr. NICE GUY!&#8221;
The <a href="https://www.dailywire.com/news/u-s-china-release-details-of-agreement-to-dramatically-slash-tariffs" target="_blank" rel="noopener">deal</a> agreed upon earlier this month between the United States and China brought Trump&#8217;s so-called reciprocal tariff on China down to 10% while keeping the 20% fentanyl tariff in place. China, meanwhile, dropped its retaliatory tariff on U.S. goods to 10%. Those new tariff rates went into effect on May 14, but would only last for 90 days as the United States and China continue to negotiate a larger trade agreement.
<a href="https://get.dailywire.com/subscribe/plus/?utm_medium=website&amp;utm_source=editorial&amp;utm_campaign=memorial&amp;utm_content=editorialmemorialday&amp;_gl=1*1qdq03s*_gcl_au*MTYyNDg0MTE0OS4xNzQxODk4NTMz*_ga*MTEzOTk1NjkxNi4xNzI2MzI1MDQz*_ga_CZKR9ZYKJP*czE3NDgzNzg2NDgkbzEwMDMkZzEkdDE3NDgzODEwMTckajU4JGwwJGgw" target="_blank" rel="noopener">Get 40% Off New DailyWire+ Annual Memberships</a>
Trump&#8217;s post on Truth Social blasting China for violating the deal came just hours after Treasury Secretary Scott Bessent <a href="https://www.youtube.com/watch?v=xdyXQv5WTYE" target="_blank" rel="noopener">told</a> Fox News host Bret Baier that the talks with China &#8220;are a bit stalled.&#8221; Bessent added that negotiations will hopefully resume &#8220;in the next few weeks.&#8221;
Similarly, U.S. Trade Representative Jamieson Greer told CNBC that China has been slow-walking in its compliance with the trade agreement, particularly regarding the flow of rare earth minerals, which China promised to again export to the United States after restricting shipments in response to Trump&#8217;s tariffs.
“We haven’t seen the flow of some of those critical minerals as they were supposed to be doing,” Greer <a href="https://www.bloomberg.com/news/articles/2025-05-30/trump-says-china-violated-its-trade-agreement-with-us">said</a>, adding, “China continues to slow down and choke off things like critical minerals and rare Earth magnets.”
The Trump administration is also in a legal battle over the president&#8217;s &#8220;Liberation Day&#8221; tariffs. A federal appeals court <a href="https://www.dailywire.com/news/appeals-court-puts-trumps-sweeping-liberation-day-tariffs-back-in-place" target="_blank" rel="noopener">reinstated</a> Trump&#8217;s tariffs on Thursday after the New York-based Court of International Trade ruled on Wednesday that Trump overstepped his authority when issuing them.

Trump Accuses China Of Violating Trade Agreement: ‘So Much For Being Mr. Nice Guy’

On Thursday, after the Court of International Trade blocked President Donald Trump from imposing some of his harshest tariffs on foreign countries the day before, stock markets around the world soared.
“Futures for the S&amp;P 500 index jumped 1.5 percent, suggesting that stocks will open sharply higher when trading begins in New York,” the New York Times <a href="https://www.nytimes.com/2025/05/29/business/stocks-trump-tariffs.html" target="_blank" rel="noopener">reported</a>, adding that stocks rose in France, Germany, Hong Kong, Japan, and South Korea. The dollar rose on Wednesday after the ruling. The yield on the 30-year Treasury note climbed back over 5%. Chip giant Nvidia’s stock rose on Wednesday by more than 6%.
The Court’s ruling implies that ultimately “extreme tariffs and rapidly changing tariffs are less likely to happen going forward, which reduces uncertainty somewhat,” analysts at Panmure Liberum, a British investment bank, opined. But they cautioned that in the immediate future, the dispute between the Court and the Trump administration “will add significant uncertainty to the mix, making it even harder for U.S. businesses to plan.”
Trump had used the 1977 International Emergency Economic Powers Act to justify his call for higher tariffs. The Court gave Trump 10 days to end them, prompting the Trump administration to immediately file its plans to appeal the decision.
<a href="https://get.dailywire.com/subscribe/plus/?utm_medium=website&amp;utm_source=editorial&amp;utm_campaign=memorial&amp;utm_content=editorialmemorialday&amp;_gl=1*1qdq03s*_gcl_au*MTYyNDg0MTE0OS4xNzQxODk4NTMz*_ga*MTEzOTk1NjkxNi4xNzI2MzI1MDQz*_ga_CZKR9ZYKJP*czE3NDgzNzg2NDgkbzEwMDMkZzEkdDE3NDgzODEwMTckajU4JGwwJGgw" target="_blank" rel="noopener">Get 40% Off New DailyWire+ Annual Memberships</a>
“The ruling does not affect tariffs issued by the Trump administration under separate legal authorities, including levies on steel, aluminum and cars, and others that Mr. Trump has threatened on pharmaceuticals, semiconductors and other critical products,” The Times <a href="https://www.nytimes.com/2025/05/28/business/trump-tariffs-blocked-federal-court.html" target="_blank" rel="noopener">pointed out</a>.
The Court of International Trade has nine judges appointed by the president and confirmed by the Senate. The Court’s ruling on the tariffs was made by a tribunal of three judges; two of whom were appointed by Republicans and one of whom was appointed by Trump.
The panel did note two other statutes that Trump could use to justify tariffs, and that he has other avenues available to carry out his economic plans.
“The bottom line is that this ruling is just a <a href="https://www.barrons.com/articles/treasury-auction-boj-mof-debt-0b226a31?mod=article_inline" target="_blank" rel="noopener" data-type="link" data-testid="hyperlink">temporary setback</a> for the president and won’t really stop him. It makes things harder for Trump, but falls well short of taking tariffs off the table,” Barron&#8217;s <a href="https://www.barrons.com/articles/can-court-really-stop-trump-tariffs-a51402c1?mod=barronsgooglenews" target="_blank" rel="noopener">reported</a>.

Stock chart Stock market graph trading analysis investment financial, stock exchange financial or forex graph stock market graph chart business crisis crash loss and grow up gain and profits win up trend.

World’s Stock Markets React To Court Ruling Against Trump’s Tariffs

Stock Market

Menu