Happy New Year 2025

Tag: trade

Trump announces reciprocal tariffs in Truth Social post amid trade policy overhaul

President Donald Trump wrote a lengthy Truth Social post about his trade policy overhaul on Saturday, emphasizing his plans to charge reciprocal tariffs to countries that the U.S. does business with.

In a post published Saturday afternoon, Trump explained how his reciprocal tariffs will work in a great amount of detail. In recent weeks, he has announced 25% tariffs on all aluminum and steel imports into the U.S., plus 25% tariffs on imports from Canada and Mexico and a 10% tariff on imports from China.

His recent move to implement reciprocal tariffs was decided “for purposes of Fairness,” Trump wrote.

“For purposes of this United States Policy, we will consider Countries that use the VAT [value-added tax] System, which is far more punitive than a Tariff, to be similar to that of a Tariff,” Trump wrote. “Sending merchandise, product, or anything by any other name through another Country, for purposes of unfairly harming America, will not be accepted.”

RED STATE AG PROMISES LEGAL FIGHT WITH ICE-RESISTING LOCAL GOVERNMENTS

President Donald Trump speaks to reporters in the Oval Office of the White House, where he signed an executive order, on Thursday, Feb. 13. (AP/Ben Curtis)

Most countries use a VAT system, including the United Kingdom, China and Mexico. Trump added that he will make provisions “for subsidies provided by Countries in order to take Economic advantage of the United States.”

“Likewise, provisions will be made for Nonmonetary Tariffs and Trade Barriers that some Countries charge in order to keep our product out of their domain or, if they do not even let U.S. businesses operate,” the president added. “We are able to accurately determine the cost of these Nonmonetary Trade Barriers.”

“It is fair to all, no other Country can complain and, in some cases, if a Country feels that the United States would be getting too high a Tariff, all they have to do is reduce or terminate their Tariff against us. There are no Tariffs if you manufacture or build your product in the United States.”

THIRD JUDGE BLOCKS TRUMP BIRTHRIGHT CITIZENSHIP ORDER

President Donald Trump speaks in the East Room of the White House, Wednesday, Feb. 5, 2025, in Washington. (AP Photo/Alex Brandon)

Trump concluded his post by claiming that the U.S. “has been treated unfairly by other Countries, both friend and foe.”

“This System will immediately bring Fairness and Prosperity back into the previously complex and unfair System of Trade,” the Republican continued. “America has helped many Countries throughout the years, at great financial cost. It is now time that these Countries remember this, and treat us fairly – A LEVEL PLAYING FIELD FOR AMERICAN WORKERS”

“I have instructed my Secretary of State, Secretary of Commerce, Secretary of the Treasury, and United States Trade Representative (USTR) to do all work necessary to deliver RECIPROCITY to our System of Trade!”

Earlier this week, Trump promised that U.S. will be “flooded with jobs” as foreign trading partners are incentivized to move their businesses to American soil – despite his tariffs being fiercely criticized in recent weeks.

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President Donald Trump speaks during the National Prayer Breakfast at Washington Hilton, Thursday, Feb. 6, 2025, in Washington. (AP Photo/Evan Vucci)

“They can build a factory here, a plant or whatever it may be, here,” Trump said Thursday afternoon from the Oval Office. “And that includes the medical, that includes cars, that includes chips and semiconductors. That includes everything. If you build here, you have no tariffs whatsoever. And I think that’s what’s going to happen. I think our country is going to be flooded with jobs.”

Fox News Digital’s Emma Colton contributed to this report.

Andrea Margolis is a writer for Fox News Digital and Fox Business. Readers can send story tips to [email protected].

February 15, 2025
Politicians trade roses and thorns this Valentine’s Day

Political power couples celebrated their love on social media this Valentine’s Day — but not without a few jabs from opposing political parties.

Several political organizations took to X to post Valentine’s Day messages trolling their rivals, including a meme from the White House with a message to illegal immigrants.

“Violets are blue, come here illegally, and we’ll deport you,” the official Trump White House X account posted.

Some X users embraced the deportation meme, while others found it insensitive. The top reply on the White House’s post says: “ROSES ARE RED VIOLETS ARE BLUE YOUR ANCESTORS WERE IMMIGRANTS AND SO ARE YOU LET’S EMBRACE OTHERS AND THEIR DREAMS TOO.”

Chris LaCivita, a GOP political strategist and a former advisor to President Donald Trump, posted a photo of Trump with a bandage on his ear from the July 2024 assassination attempt captioned, “I’d take a bullet for you.”

A Valentine from the Republican National Committee to the Democratic National Committee said: “Roses are red, violets are blue; We won seven Swing States, what did you do?”

Democrats had some fun with their Valentine’s Day message, too, poking fun at the power dynamics at play between Elon Musk and Trump.

“The left can’t meme,” multiple users replied to the Democrats’ post on X. Another X user replied with a photo of Trump and former first lady Jill Biden speaking at the reopening of the Notre Dame captioned: “Will you be my Valentine?”

Former President Barack Obama and former first lady Michelle Obama celebrated 32 years of marriage with matching selfies across their social media accounts amid divorce rumors.

“If there’s one person I can always count on, it’s you, @BarackObama. You’re my rock. Always have been. Always will be. Happy Valentine’s Day, honey!” Michelle said.

Former President Joe Biden joined the love fest with a photo of his wife Jill sporting a “LOVE” jacket captioned, “Happy Valentine’s Day, Jilly!”

PRINCE WILLIAM STEALS KISS FROM KATE MIDDLETON IN RARE VALENTINE’S DAY PHOTO

Former second gentleman Doug Emhoff posted a photo wishing former Vice President Kamala Harris a happy Valentine’s Day, saying, “Grateful to be by your side through it all.”

Robert F. Kennedy, Jr., fresh off being sworn in as Secretary of Health and Human Services, posted a photo on a hike with his wife, actress Cheryl Hines. He thanked her for “being my partner in this adventure.”

SENATE CONFIRMS ROBERT F KENNEDY JR. TO SERVE AS TRUMP’S HEALTH SECRETARY

“Thanking the love of my life Dina for her incredible support and love during the craziest year of our lives! Happy Valentine’s Day!” Sen. Dave McCormick, R-Pa., said to his wife Dina, who served as deputy national security advisor during President Donald Trump’s first term.

Sen. Chuck Grassley, R-Iowa, posted a charming photo with his valentine of 70 years.

Meanwhile, Sen. Tim Scott, R-S.C., wished his wife Mindy a happy first Valentine’s Day as a married couple. The 59-year-old was a longtime bachelor before announcing his engagement to a “lovely Christian girl” in January 2024. The couple got married in August at the Seacoast Church in Mount Pleasant, South Carolina.

California Gov. Gavin Newsom thanked his wife, Jennifer Siebel Newsom, for championing the rights of Californians.

“Happy Valentine’s Day, Jen. I’m lucky to call my best friend the love of my life. Thank you for all that you do to champion the rights of Californians. I love you,” Newsom said in a post.

From left: Former Vice President Kamala Harris and second gentleman Doug Emhoff; Sen. Tim Scott, R-S.C., and his wife Mindy; and former President Barack Obama and former first lady Michelle Obama celebrate Valentine’s Day. (Reuters/Getty/Fox Digital)

Rep. Byron Donalds, R-Fla., posted a throwback photo with his wife of 25 years, calling the life they built in Southwest Florida his “greatest blessing.”

“My high school sweetheart, the mother of our four amazing kids, the love of my life, and Pennsylvania’s First Lady! Happy Valentine’s Day, Lori,” Pennsylvania Gov. Josh Shapiro wrote in a post.

Speaker of the House Mike Johnson, R-La., wished his wife a happy Valentine’s Day with an Audrey Hepburn quote: “The best thing to hold onto in life is each other.

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New York City Mayor Eric Adams opted for a solo photo, holding up heart hands in his Valentine’s Day post and telling New Yorkers what he really loves is “making our city MORE affordable, building even MORE affordable housing, and making sure EVERY New Yorker has a job…so they can treat their boo to a night out.”

Deirdre Heavey is a politics writer for Fox News Digital.

February 14, 2025
Trump’s Treasury secretary shuts down tariffs concerns, praises ‘frictionless global trade’

Treasury Department Secretary Scott Bessent discusses President Donald Trump signing a reciprocal tariff plan, V.P. Vance threatening Russia with sanctions, a potential economic partnership agreement with Ukraine and government spending waste.

Less than one day after President Donald Trump signed off on a reciprocal tariff plan, the administration’s Treasury secretary shut down any economic concerns around the state of global trade.

“President Trump is serious about negotiating this. And look, I don’t understand why there’s any pushback on this, that if they want to bring all these barriers down, then we will have more frictionless global trade,” Scott Bessent said in an exclusive interview on “Mornings with Maria” Friday.

“As we’ve learned with President Trump, you should take him at his word. This is not theater,” he continued. “The April 1 deadline is for a study that the Commerce Department is doing on global tariffs that apply to U.S. products country by country.”

On Thursday, Trump announced a plan for the U.S. to look at implementing “reciprocal” tariffs against countries that tax or limit markets for American goods. Trump said he did not expect any exemptions or waivers for the plan, which could apply to both adversaries and allies.

TRUMP IS PLAYING A DANGEROUS TARIFF GAME DESPITE HIS ‘REALLY STRONG’ AGENDA, U.S. ECONOMIST WARNS

Commerce Secretary nominee Howard Lutnick and the U.S. trade representative would then submit a report detailing the tariffs on a country-by-country basis, a White House official said, previewing the announcement. The studies will be completed by April 1.

U.S. Treasury Secretary Scott Bessent discussed global trade and Trump’s tariff plans on “Mornings with Maria” Friday. (Getty Images)

The official added that Office of Management and Budget (OMB) Director Russ Vought would then have 180 days to produce a report assessing any financial impacts.

This comes just days after the Trump administration announced 25% tariffs on steel and aluminum imports, and a 10% across-the-board tariff on China last week.

“We’re going to come up with what is the equivalent of an index, what I would call a reciprocal index, country by country, the outstanding tariffs, non-tariff, the trade barriers and currency manipulation,” Bessent explained.

“I’m expecting that we will get this report and we will see how our trading partners choose to respond. But I can tell you that if he needs to, he will implement them,” the Treasury secretary added. “And as he said in the interview yesterday, this can be a big revenue source for the U.S. government.”

U.S. Treasury Secretary Scott Bessent addresses President Donald Trump’s economic and fiscal goals during his first interview on ‘Kudlow’ since joining the administration.

Bessent also responded to widespread criticism from some economists and market experts that tariffs may exacerbate inflation and create extra costs for consumers.

“I think that is a simplified, reductionist view. It’s typical of the old thinking, and it’s the reason the U.S. has been taken advantage of for years and years. It’s the reason we have these gigantic trade deficits. It’s the reason that many of our products aren’t allowed… to be sold abroad,” he said.

“All President Trump wants is for American businesses to have frictionless trade. And I will stand behind our American manufacturers to make the best products at the best price. And they can sell anywhere in the world without these barriers.”

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White House senior counselor for trade and manufacturing Peter Navarro emphasizes the economic importance of DOGE and President Donald Trump’s reciprocal tariff plan on ‘The Evening Edit.’

According to America’s top money manager, accrued revenue from tariffs solely relies on trade partners’ collaboration.

“It’s going to depend on our trading partners’ responses, how quickly they do it, how much they do it over time,” Bessent said. “But I could tell you that these could be very, very substantial if they don’t want to take their tariffs down because we will match them, percent for percent, dollar for dollar.”

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FOX Business’ Greg Norman contributed to this report.

February 14, 2025
Will tariffs reduce trade deficits? Experts weigh in

The Claman Countdown panelists Keith Fitz-Gerald and David Kudla unpack the pressure of tariffs.

President Donald Trump has spent his first few weeks in office rolling out his trade agenda, which has thus far focused on increasing tariffs. Part of that strategy is Trump’s belief that tariffs will help reduce trade deficits.

After his initial announcement of 25% tariffs on Mexico and Canada, Trump said the countries “have to balance out their trade” with the U.S. for him to consider not implementing those tariffs, which are currently delayed until at least March after the two countries announced border security measures.

“We have deficits with almost every country – not every country, but almost – and we’re going to change it,” the president added about America’s broader trade deficit. Trump has also announced higher tariffs on products imported from China and is planning to impose reciprocal tariffs on foreign trading partners after a review that’s expected to conclude by April 1.

In 2024, the U.S. trade deficit in goods grew by 14% in 2024 to reach a record of $1.2 trillion, while America’s trade surplus in services grew 5.4% to $293 billion – leading to a net trade deficit for goods and services of $918 billion last year, up $133 billion from the prior year. With the trade deficit growing and the president aiming to narrow it, FOX Business spoke with expert economists about whether trade deficits are a problem that tariffs can fix.

US TRADE DEFICIT HITS RECORD THAT WILL BE A TRUMP TARGET

President Donald Trump has taken issue with U.S. trade deficits with other countries and touted tariffs as a way to narrow them. (Chip Somodevilla/Getty Images / Getty Images)

Ryan Young, senior economist at the Competitive Enterprise Institute, told FOX Business that people buying goods and services from overseas is because they “value what they get more than the money they give up.”

He added that trade balances don’t “say anything about a country’s economic health, good or bad, it just means a lot of people are making beneficial decisions,” while noting that the U.S. has run trade deficits for more than 50 years.

“The U.S. has run a trade deficit every year since the 1970s, yet living standards are better by almost every measure, whether it’s income, unemployment rate, life expectancy, percentage of low-income households with air-conditioning, internet and other goods, or nearly any other measure. If the trade deficit were harmful, much of what we see all around us every day should not exist,” Young said. “Trump gives a lot of reasons for his tariffs. Trade deficits should not be one of them.”

TRUMP SIGNS RECIPROCAL TARIFF PLAN: ECONOMISTS WEIGH IN ON HOW IT COULD WORK

Scott Lincicome, VP of general economics at the Cato Institute, told FOX Business that Trump’s first term tariffs on China can serve as an example of how they impact bilateral trade between the two countries as well as the overall trade deficit.

“Trump imposed a ton of tariffs on steel and aluminum and on Chinese goods – and the U.S.-China bilateral trade balance did shrink a bit. But the overall U.S. trade deficit didn’t change, as a share of GDP it was basically flat,” Lincicome said, noting that trade deficits with countries like Vietnam grew as the China trade deficit decreased.

President Trump has touted the U.S. dollar’s role as the world’s reserve currency and recently threatened tariffs on countries in the BRICS alliance if they attempt to end that role. However, the dollar’s status also contributes to the trade deficit.

President Donald Trump has signed several executive orders related to trade and tariffs since returning to the White House. (Andrew Harnik/Getty Images / Getty Images)

TARIFFS COULD FACTOR INTO FED’S RATE-CUT PLANS AMID INFLATION CONCERNS, EXPERTS SAY

“The United States can run large trade deficits for a somewhat unique reason, and that is the dollar’s role as the world’s reserve currency,” Lincicome said. “Because the dollar is in demand abroad, that actually increases the dollar’s value… generally, a stronger dollar increases imports and decreases exports.

“So in that case, the trade deficit itself is a symptom of a good thing for the U.S. economy and something Trump likes,” he added.

Steven Kamin, a senior fellow at the American Enterprise Institute who specializes in macroeconomics and international finance, told FOX Business that deploying tariffs as a means of bringing back manufacturing jobs is unlikely to lead to a significant number of jobs being reshored.

“A lot of the destruction of manufacturing jobs was caused by technological change, not by import competition,” Kamin said. “A lot of that basically hemorrhage of manufacturing jobs to very low cost countries like China, like Mexico, was kind of inevitable. We were never going to keep those jobs, and more importantly, imposing tariffs at this point will bring some, but not very many jobs.”

The U.S. has run trade deficits since the 1970s. ((Photo by Qian Weizhong/VCG via Getty Images) / Getty Images)

ECONOMIST OFFERS BIPARTISAN PLAN TO AVOID FINANCIAL CRISIS BY STABILIZING AMERICA’S SURGING NATIONAL DEBT

Kamin also noted that the federal government’s fiscal budget deficit plays a role in contributing to the U.S. trade deficit.

“If you look at the private sector of the United States – households and businesses – they actually earn more than they spend on consumption and investment. So basically, on the whole, our private sector is running a small surplus. It’s the government that’s running a big deficit,” Kamin said. “So if you were serious about reducing the trade deficit, you would reduce the fiscal deficit.”

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“The trade deficit does not matter, the fiscal deficit does matter. The reason for that is because the fiscal deficits lead to higher government debt,” Kamin said. “As that debt grows, it competes with the private sector for borrowing funds and pushes up interest rates. And if that debt grows large enough, interest rates could go sky high – and this is something way far in the future – could lead to a financial crisis.”

February 14, 2025
Chinese companies shore up US-based production to avoid Trump trade crackdown

Rockwell Automation CEO Blake Moret explains how tariffs will be a ‘net positive’ for U.S. automation on ‘The Claman Countdown.’

Chinese companies are shoring up their U.S.-based production and warehouses to evade the Trump administration’s crackdown on Communist Party of China (CCP) imports.

Fashion brand Temu is pushing its locally made products after the Trump administration put an end to a lucrative trade loophole that allowed Chinese fast fashion and low-cost goods to make their way into the U.S. and evade tax enforcement.

Temu is now promoting items stored in its U.S. warehouses under its “lightning deals” section and a “local warehouse” section on its website.

The Trump administration ended an exemption known as “de minimus,” which allowed goods valued less than $800 to enter the U.S. without paying duties.

CHINA RESPONDS WITH TARIFFS ON US GOODS AFTER TRUMP’S TARIFFS ON CHINESE IMPORTS TAKE EFFECT

Fashion brand Temu is pushing its locally made products after the Trump administration cracked down on a lucrative trade loophole. (CFOTO/Future Publishing via Getty Images/File)

The de minimus rule helped Temu offer the U.S. suspiciously low-cost goods like $5 sneakers and $6 knockoff AirPods.

Singapore-based, China-founded fast fashion brand Shein has adopted a similar strategy, and it now has a growing U.S.-based workforce of 1,500 and is increasingly relying on warehouses in California and Indiana.

This month, Shein opened a Seattle hub for U.S. fulfillment and logistics operations as it seeks to localize deliveries.

Meanwhile, Chinese quartz company Sunfat Marble and Granite put out a pro-Trump news release promising “intentions for a historic investment into America, with a commitment to create tens of thousand (sic) new American jobs, including construction of new manufacturing facilities across the heartland of the U.S., with an investment totaling $250 million.”

“With President Trump in power, we’re more excited than ever to commit to the United States,” the company said in a release seen by Fox Business.

“We understand Americans are skeptical of Chinese companies and concerned about foreign investment. It’s why we are also announcing a commitment to only hire American workers. There will be no H1-B visas. There will be no undercutting of American wages.”

CHINA-LINKED FIRM GETS E-ZPASS CONTRACT IN NEW JERSEY, FORMER SENATOR CALLS IT ‘WORSE’ THAN TIKTOK

China’s CATL may look to build a plant in the U.S. (REUTERS/Jake Spring/File)

On Monday, Trump slapped 25% tariffs on all steel and aluminum imports, which came one week after Trump imposed a 10% tariff on all Chinese goods.

CATL, the world’s top battery maker, has said it will consider building a U.S. plant if Trump opens the door to Chinese investment in the American electric vehicle supply chain.

“Originally, when we wanted to invest in the U.S., the U.S. government said no,” CATL founder Robin Zeng told Reuters. “For me, I’m really open-minded.”

China’s EV and battery firms are heavily subsidized by the CCP and face some of the steepest trade restrictions due to competition and national security concerns. Chinese EV imports are slapped with a 100% tariff, an effective ban.

Trump says Xi Jinping, China’s president, knows where he stands when it comes to tariffs. (Ton Molina/Bloomberg via Getty Images/File)

It’s not clear how many of the Chinese-based efforts to build U.S.-based supply chains will be successful, and they pose a risk of furthering CCP intellectual theft by allowing such companies to do business here.

This week, Rep. Abe Hamadeh, R-Ariz., wrote a letter to the CEO of a Chinese battery company that operates in California, Stored Power Tech Technology Systems Inc., demanding to know more about its rumored links to China Shipbuilding Corp. (Fangfen), an entity controlled by the CCP. The company touts its ties to Fangfen on its LinkedIn page.

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“If these allegations are confirmed, the relationship would blatantly violate U.S. law,” said Hamadeh. “The notion of a Chinese state-controlled enterprise penetrating the U.S. battery industry, especially with potential ties to the Chinese military, is a grave threat.”

February 14, 2025
China carrying out customs fraud, trade expert says: ‘No doubt’

Daniel Pickard explains common misconceptions about how President Donald Trump is using tariffs and why we could see a crackdown on trade fraud.

China may be out of ways to evade U.S. trade laws as President Donald Trump’s tariffs and border crackdowns come into effect. International trade expert Daniel Pickard believes Trump’s return to the Oval Office could bring an end to shady Chinese trade practices.

“What we have seen repeatedly with a lot of the Chinese products is that they choose not to pass along that duty, but they actually absorb that cost and keep their price the same in the United States in attempts to continue to buy market share,” Pickard told Fox Business. “I think what we’re going to see is that the Chinese are going to continue to attempt to absorb those duties and export their way out of economic doldrums.”

Pickard says that while there is a lack of consensus about the rate at which China’s economy is slowing, there is an agreement among experts like himself that it is “considerably cooling,” and the CCP sees exports as a way out.

U.S. President Donald Trump attends a bilateral meeting with China’s President Xi Jinping during the G20 leaders summit in Osaka, Japan, June 29, 2019. (REUTERS/Kevin Lamarque/File Photo / Reuters)

USPS SUSPENDS INBOUND PACKAGES FROM CHINA, HONG KONG POSTS

However, the CCP’s gravy train could come to a grinding halt thanks to Trump’s policies and calls for “increased enforcement,” Pickard says.

On Feb. 1, President Trump signed an executive order implementing an additional 10% tariff on Chinese imports, something he spoke about throughout his 2024 campaign.

“Chinese officials have failed to take the actions necessary to stem the flow of precursor chemicals to known criminal cartels and shut down money laundering by transnational criminal organizations,” the White House wrote, citing the flow of fentanyl and other “contraband drugs” into the US as a reason for the heightened tariffs.

The White House went on to slam previous administrations that “failed to fully leverage America’s economic position as a tool to secure our borders.” President Trump sees tariffs as not only a way of boosting U.S. manufacturers and the economy, but also to curb the flow of illegal drugs and to protect U.S. intellectual property.

“In response to China’s intellectual property theft, forced technology transfer, and other unreasonable behavior, President Trump acted with conviction to impose tariffs on imports from China, using that leverage to reach a historic bilateral economic agreement,” the White House added.

President Trump discusses how he handled China while in office during his interview on ‘Mornings with Maria.’ (Wang Gang/VCG via Getty Images/ Fox Business / Fox News)

Pickard told Fox Business that instances of Chinese customs fraud and trade crimes are not “anecdotal or isolated.” He asserted that “everybody who is involved in this space is aware of at least dozens, if not more, stories of Chinese importers being involved in customs fraud.”

“There is no doubt that there is massive customs fraud going on,” Pickard told Fox Business, explaining that the fraud can take various forms. Chinese goods could be mislabeled as other products or may be shipped to other countries that will remove its “made in China” indication.

“What we’re seeing over and over again are essentially transshipment issues where China is shipping product to Thailand or Malaysia or sometimes Canada or Mexico, and then someone in that country is removing the ‘made in China’ indication, indicating that it’s now ‘made in Thailand,’ and shipping it into the United States, and therefore avoiding the duties,” Pickard said.

Trump says Xi Jinping, China’s president, knows where he stands when it comes to tariffs. (Ton Molina/Bloomberg via Getty Images / Getty Images)

CHINA RESPONDS WITH TARIFFS ON US GOODS AFTER TRUMP’S TARIFFS ON CHINESE IMPORTS TAKE EFFECT

In response to a Fox Business request for comment, Customs and Border Patrol said that its “Trade Enforcement Operational Approach demonstrates how CBP is using all of its authorities to combat trade fraud.” CBP also vowed to “use all methods at its disposal—including increased bonding, enhanced targeting and inspection of high-risk imports, and swift and thorough review of allegations to ensure a fair and competitive trade environment.”

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Rep. Ashley Hinson, R-Ia., introduced legislation in December 2024 to hold China accountable for tariff evasion. The bill would establish a task force to handle trade-related crimes and require the attorney general to submit an annual report on the Justice Department’s efforts to tackle such crimes.

“By strengthening the Trump’s DOJ’s ability to detect and prosecute international trade crimes, my bipartisan bill will ensure that Communist China and other perpetrators are criminally liable for illicit activity and that penalties are enforced,” Rep. Hinson said when introducing the legislation.

When speaking to Fox Business, Rep. Hinson emphasized the need for legislation to give the Justice Department the “tools” to protect Americans from Chinese threats and bolster the U.S. economy.

February 13, 2025
President Trump, India’s Modi to tackle trade, tariff tensions at high stakes meeting

John Catsimatidis, United Refining Co. and Red Apple Group chair and CEO, recalls the moment he reportedly told New York City’s mayor the DOJ was dropping charges against him; he also talks about consumer inflation.

President Donald Trump is expected to welcome Indian Prime Minister Narendra Modi to the White House on Thursday. As only the fourth world leader to meet with the president since beginning his second term, the meeting underscores the importance of the U.S.-India relationship.

Modi, India’s most prominent leader in decades, remains a largely popular yet polarizing figure both at home and abroad. Officials in New Delhi are optimistic that his visit will pave the way for a renewed strategic partnership. Trump and Modi are expected to cover a broad range of issues; trade and tariffs are expected to dominate it.

Reuters reported that Modi is also expected to meet with billionaire tech CEO Elon Musk, whose Starlink’s entry to the South Asian market could be discussed. The two men are said to have a friendly relationship, with Musk meeting Modi in 2023.

“Trade is by far the most important agenda, with defense and foreign policy taking a secondary position this time around,” Siddhartha Dubey, a visiting professor of journalism at Bennett University in India, told FOX Business. The countries have “no progress on a trade deal,” he said.

India, the world’s fastest-growing major economy, has been spared any tariffs so far. But the stakes remain elevated.

INDIA’S MODI SPEAKS WITH ‘DEAR FRIEND’ PRESIDENT TRUMP AMID HOPES OF FURTHERING TIES

President Donald Trump is shown with Indian Prime Minister Narendra Modi in Motera, on the outskirts of Ahmedabad, India, on Feb. 24, 2020. (MANDEL NGAN/AFP via Getty Images)

“This has been one of our strongest international partnerships in recent years,” Dubey said.

Trump and Modi enjoy a strong personal rapport, and their meeting is expected to shed more light on the evolving dynamics between the world’s most populous democracy and its most powerful one,

The U.S. is India’s largest trading partner, with trade reaching a record $129.2 billion in 2024. Currently, the trade surplus is around $35 billion in India’s favor. India is also one of the most protectionist economies, and Trump is sure to press for more access.

Dubey warned that “privately, many Indians feel Delhi could be in Trump’s crosshairs soon,” especially with the news of Trump saying he will implement reciprocal tariffs on any countries with tariffs on U.S. goods, which could include India. And most recently, he introduced a 25% tariff on all steel and aluminum imports with no exceptions. But Modi is keen to avert a potential trade war. Over the next few days, he is expected to offer some major concessions in an attempt to move toward what the White House calls a “fair bilateral trading relationship.”

India is already showing a willingness to ease its own tariffs in what are believed to be preemptive moves to stave off U.S. tariffs. India has slashed duties on key U.S. exports. This month, for example, India cut tariffs on motorcycles in a move that benefits American company Harley-Davidson. U.S. motorcycle exports to India amounted to only about $3 million last year.

INDIAN PRIME MINISTER MODI’S 3RD-TERM VICTORY A WIN FOR BUSINESS: ‘THE SKY IS THE LIMIT’

Indian Prime Minister Narendra Modi, right, meets with Elon Musk in New York on June 20, 2023. (Indian Press Information Bureau/Handout/Anadolu Agency via Getty Images)

Despite the steps India has taken to address Trump’s concerns, the country remains at risk. Trump has often criticized India as being one of the “very big tariff abusers,” and just last month he called the nation a “tremendous tariff maker.”

Trump’s top economic adviser, Kevin Hassett, echoed those criticisms on Monday, saying “India has enormously high” tariffs that act as an import barrier. During his first term, Trump railed against India’s steep tariffs, dubbing it a “tariff king.” In 2019, he revoked India’s special trade privileges, prompting India to retaliate by slapping tariffs on dozens of U.S. goods.

According to World Trade Organization data, India’s simple average tariff rate is 17%, significantly higher than the U.S. rate of about 3.3%.

“This is unfair,” Dubey told FOX Business. “And I do not believe that President Trump will turn a blind eye. India has to cut its high tariffs, there’s no question about it,” he added.

President Donald Trump signs executive orders on Monday imposing 25% tariffs on imported steel and aluminum, the latest salvo in his ongoing effort to overhaul the U.S. trading relationship with the rest of the world. (Jabin Botsford/Washington Post via Getty Images)

Nonetheless, India remains confident in being able to navigate Trump’s “America First” policies. During the upcoming meeting, Modi is anticipated to propose an increase in energy product imports from the U.S. to address the trade imbalance. India’s oil secretary says companies there are hoping to purchase U.S. liquefied natural gas after Trump lifted a ban on new export permits. As the fourth-largest importer of liquefied natural gas, India is well-positioned to further its energy trade with the U.S.

When it comes to defense imports, Reuters reports that Modi is negotiating the purchase and co-production of combat vehicles as well as finalizing a fighter jet engine deal. India is the world’s largest importer of military equipment, and Trump wants the country to buy more U.S.-made security equipment. The push comes as the U.S. and Russia are competing to secure India’s fifth-generation fighter jet deal. New Delhi is also focused on attracting greater investment from U.S. companies in manufacturing and services, particularly the insurance sector.

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Modi arrived in Washington on Wednesday after a visit to France for a global conference on artificial intelligence. During his time there, Modi met with Vice President JD Vance, further strengthening diplomatic ties. In a departure statement, Modi expressed eagerness for his meeting with “my friend, President Trump,” which is sure to present both opportunities and challenges.

Indo-U.S. trade ties have grown steadily over the years, but Modi has acknowledged that the partnership can be deepened in several critical areas, including technology, trade, defense, energy and supply chain resilience.

“Modi and his team need to do more to assuage Trump and his team that they will lift certain duties and make India a whole lot friendlier to U.S. exporters,” Dubey said.

February 13, 2025
Luka Doncic trade to Lakers couldn’t be vetoed, NBA commish says

The Dallas Mavericks trading Luka Doncic to the Los Angeles Lakers was so stunning, that fans have been asking NBA Commissioner Adam Silver to veto the trade.

Silver, 62, explained that he does not have the power to veto any trade during a recent appearance on Barstool Sports’ “Pardon My Take.”

“The answer is no, believe it or not. There’s some confusion people have yelled out to me for some reason in the last week or so when I’ve been at games that I should be vetoing that trade the way David Stern vetoed a trade back in the old days and there’s always some confusion there,” Silver said.

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NBA Commissioner Adam Silver speaks before the Paris Games 2025 NBA basketball game between the San Antonio Spurs and Indiana Pacers at Accor Arena. (Stephanie Lecocq/Reuters via Imagn Images)

Late NBA Commissioner David Stern vetoed a blockbuster three-way trade following the 2011 lockout.

The Lakers would have acquired 26-year-old superstar point guard Chris Paul to team up with Kobe Bryant from the then-New Orleans Hornets. The Lakers would have shipped out Lamar Odom and Pau Gasol. The NBA owned the Hornets at the time, and the general manager, Dell Demps, did not get Sterns’ approval for the trade.

Once Stern found out, he vetoed the trade, but he was only able to veto that blockbuster because the league owned the team, not because he was a commissioner.

Silver said regardless of the merits of the trade, he cannot veto a deal that he does not like.

“I mean the way we don’t put a thumb on the scale, so to speak, when a trade comes into the league office, what our basketball and legal folks do is they make sure that that trade works under the confines of the collective bargaining agreement, whatever rules are in place,” he said. “Then it’s up or down, it gets approved or not based on those rules. We don’t get to weigh in on what we think the merits of the trade are or should be.”

LUKA DONCIC MAKES LAKERS DEBUT AFTER BLOCKBUSTER TRADE

Los Angeles Lakers guard Luka Doncic gestures as he comes back in during the first half of an NBA basketball game against the Utah Jazz on Monday, Feb. 10, 2025 in Los Angeles. (AP Photo/Mark J. Terrill)

When asked if he at least thought it was cool that Doncic would be in a big market now in Los Angeles, Silver pointed out that Dallas is a large media market.

“Frankly, Dallas is a big market, and was I surprised that he was traded from that standpoint? Yeah, I’m a fan and the teams don’t necessarily give the league inside information on those kinds of things, so that trade wasn’t one that I saw coming. By the way, I love Luka. I’ve known him since the day he came into the league. He’s obviously a great player, he’s a great young man and teams make these trades for reasons that in some cases only they know,” Silver said.

Silver added he wanted both the Lakers and Mavericks to be successful following the seismic trade.

“The one thing I’ll say is having been with this league for a long time, like truly nothing is written. People who say they can predict the future generally can’t and we’ll see. I’m sort of rooting for Dallas, and I’m rooting for the Lakers. I’m rooting for Anthony Davis to recover quickly and be the All-Star, we know he can be and stay healthy for a long time and I’m definitely rooting for Luka to demonstrate to the world what a great player he is in LA.”

Davis suffered a groin injury in the Mavericks’ win over the Houston Rockets on Saturday and is expected to miss multiple weeks, per ESPN.

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Dallas Mavericks forward Anthony Davis, #3, leaves the game against the Houston Rockets during the third quarter at the American Airlines Center. (Jerome Miron-Imagn Images)

Doncic made his Lakers debut on Monday and scored 14 points in 24 minutes in the Lakers win. It was his first game back from injury since hurting his calf on Christmas.

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Ryan Canfield is a digital production assistant for Fox News Digital.

February 13, 2025
Mavericks fans ejected over ‘Fire Nico’ protests amid growing animosity over Luka Doncic trade

It was an exodus of disgruntled Dallas Mavericks fans at American Airlines Center on Monday night after security was seen escorting several people out of the arena after they called for general manager Nico Harrison’s job following the Luka Doncic trade.

Security escorted out several fans that either held up “Fire Nico” signs or shouted out the phrase during the Mavericks’ one-point loss to the Sacramento Kings.

A pair of fans, one waving, is escorted out of the game after holding up a sign that said “Fire Nico,” referencing the Mavericks general manager Nico Harrison, during the game against the Sacramento Kings in Dallas, Monday, Feb. 10, 2025. (AP Photo/Tony Gutierrez)

During a karaoke segment where fans sang along to Whitney Houston’s “I Wanna Dance With Somebody,” one man was shown on the Jumbotron mouthing the phrase “Fire Nico.”

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The camera quickly panned away.

That same man was also seen holding a sign with the same phrasing. He and another man holding the sign were later seen being escorted away from their seats in a video shared on social media.

According to The Dallas Morning News, two more fans were escorted out in the fourth quarter. Each time, the escorts were met by boos from fans in the surrounding area.

A fan yells, “Fire Nico,” referencing Mavericks general manager Nico Harrison as security approaches him during the Sacramento Kings game in Dallas, Monday, Feb. 10, 2025. (AP Photo/Tony Gutierrez)

MAVERICKS GM GETTING BOOST IN SECURITY FOR FIRST HOME GAME SINCE LUKA DONČIĆ TRADE AFTER DEATH THREATS: REPORT

Doncic led the NBA in scoring last season and helped the Mavericks reach an NBA Finals appearance, but was dealt away to the Los Angeles Lakers in one of the most controversial trades in recent memory.

Fans have since expressed their disdain for Harrison, the mastermind behind the trade, prompting the organization to reportedly increase his security before Saturday’s game over the weekend.

The Lakers acquired Doncic, Maxi Kleber and Markieff Morris, while the Mavericks got Anthony Davis, Max Christie and Los Angeles’ 2029 first-round pick. To complete the deal, the Utah Jazz acquired Jalen Hood-Schifino and two second-round picks.

Mavericks guard Luka Doncic drives against Los Angeles Lakers forward Anthony Davis in Dallas, Dec. 12, 2023. (AP Photo/LM Otero, File)

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But Davis sustained a groin injury in his debut for Dallas and will be sidelined at least through the All-Star break.

Fox News’ Ryan Morik contributed to this report.

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February 11, 2025
Cowboys star CeeDee Lamb sounds off amid teammate Micah Parsons trade rumors

Micah Parsons put together another strong performance this past season. The Dallas Cowboys linebacker recorded 12 sacks despite missing four games in his fourth NFL season.

Parsons is set to play the 2025 season on his fifth-year option before he is scheduled to become a free agent. The star pass rusher would then be free to sign with another team, unless his representatives and the Cowboys’ front office are able to reach an agreement on a contract extension.

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CeeDee Lamb, left, and Micah Parsons of the Dallas Cowboys celebrate after beating the Los Angeles Rams at AT&T Stadium on Oct. 29, 2023, in Arlington, Texas. (Richard Rodriguez/Getty Images)

While Parsons’ future remains uncertain, trade rumors have already started to swirl – much to the displeasure of one of his current teammates.

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A report from NFL Media recently surfaced saying “some internal discussions” have taken place among the Cowboys brass about the possibility of including Parsons in a trade. Dallas star wide receiver CeeDee Lamb apparently caught wind of the report, and questioned whether there was any fatigue concerning discussions about Parsons.

Micah Parsons of the Dallas Cowboys walks off the field after the New York Giants game at AT&T Stadium on Nov. 24, 2022. (Wesley Hitt/Getty Images)

He also suggested that having Parsons on the team gives Dallas the best opportunity to win games going forward.

“Y’all aren’t tired of this? Every offseason, top of the charts… Let’s just win ball games and that’s with 11! SMH,” Lamb wrote on X, formerly known as Twitter.

Parsons is scheduled to make $21.324 million this upcoming season. While he is listed on the Cowboys’ roster as a linebacker, he lined up at the defensive end position for the majority of the team’s defensive snaps last season and was tagged as such.

Dallas Cowboys wide receiver CeeDee Lamb and linebacker Micah Parsons celebrate during the NFL Pro Bowl Skills Competition in Orlando, Florida, Feb. 1, 2024. (Nathan Ray Seebeck-USA Today Sports)

San Francisco 49ers star Nick Bosa’s roughly $34 million represents the league’s highest annual salary for a defensive end.

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Lamb and Parsons will be under the guidance of a new head coach when they report to training camp in the coming months. The Cowboys parted ways with head coach Mike McCarthy last month and promoted Brian Schottenheimer from his offensive coordinator post to head coach.

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Chantz Martin is a sports writer for Fox News Digital.

February 11, 2025