Key events
BMW said it does not expect newly imposed US tariffs to remain in place until the end of the year, adding that if the situation changed, so would its outlook, reports Reuters.
BMW forecast a 5-7% earnings margin for its automotive segment in 2025, but that calculation was based on the assumption that the tariffs imposed so far would remain in place until the end of the year, which the carmaker does not expect to be the case, executives Oliver Zipse and Walter Mertl said. “If the situation changes, we will need to adjust the outlook,” chief financial officer Mertl added.
This week on the Guardian’s Politics Weekly America, Jonathan Freedland speaks to Heather Boushey, an economist and former adviser to Joe Biden, about what Donald Trump’s long game is with his trade war, and how voters will view his handling of the economy should there be a “Trumpcession”. You can listen to the podcast at the link below:
Here’s a little more on the comments to reporters by congresswoman Alexandria Ocasio-Cortez. According to a post on X by Kadia Goba, political reporter at Semafor, Ocasio-Cortez said:
There are members of Congress who have won Trump held districts in some of the most difficult territories in the United States; who walked the plank and took innumerable risks in order to defend the American people … just to see some Senate Democrats even consider acquiescing to Elon Musk. I think it is a huge slap in the face, and I think that there’s a wide sense of betrayal.”
Schumer decision to vote for Republican funding bill a betrayal and ‘huge slap in the face’, says AOC
The Senate finds itself on Friday in a familiar position, working to avoid a partial government shutdown with just hours to spare as Democrats confront two painful options: allowing passage of a bill they believe gives president Donald Trump vast discretion on spending decisions or voting no and letting a funding lapse ensue.
Senate Democratic leader Chuck Schumer gave members of his caucus days to vent their frustration about the options before them, but late on Thursday made clear he will not allow a government shutdown. His move gives Democrats room to side with Republicans and allow the continuing resolution, often described as a CR, to come up for a vote as soon as Friday, reports the Associated Press. Congresswoman Alexandria Ocasio-Cortez told reporters that Senator Chuck Schumer’s statement was “a huge slap in the face, and I think that there’s a wide sense of betrayal.”
A procedural vote on Friday will provide a first test of whether the package has the 60 votes needed to advance, before final voting likely later in the day. At least eight Democrats will need to join with Republicans to move the funding package forward.
“While the CR still is very bad, the potential for a shutdown has consequences for America that are much, much worse,” Schumer said.
Senate majority leader John Thune and others used their floor time on Thursday to make the case that any blame for a shutdown would fall squarely on Democrats.
Schumer said Trump would seize more power during a shutdown, because it would give the administration the ability to deem whole agencies, programmess and personnel non-essential, furloughing staff with no promise they would ever be rehired.
“A shutdown would give Donald Trump the keys to the city, the state and the country,” Schumer said.
More on that in a moment, but first, here are some other key developments:
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Senator Chuck Schumer, the Democratic minority leader in the Senate, said that he will vote to allow the deeply partisan Republican spending bill become law because a government shutdown would do more harm.
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Congresswoman Alexandria Ocasio-Cortez told reporters that Senator Chuck Schumer’s statement was “a huge slap in the face, and I think that there’s a wide sense of betrayal.”
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Stocks plunged again after Trump’s threat to impose a 200% tariff “on all wines, Champagnes, and alcoholic products” from European Union countries if the trading bloc makes good on its threat to retaliate for steel and aluminum tariffs announced by the US president by adding a 50% tariff on American products, including Kentucky bourbon.
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In a letter sent to the president of Columbia University and the co-chairs of its board of trustees on Thursday, the Trump administration’s antisemitism taskforce demanded nine specific changes to university policies and structures before negotiations over federal funding would begin.
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Columbia announced the same day it received the letter that it had complied with item one on the list of demands: expelling and suspending pro-Palestinian student protesters who occupied a campus building last year or took part in a Gaza Solidarity encampment.
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Representative Raúl Grijalva died after a long battle with cancer, his office announced on Thursday. His seat will remain vacant until at least September.
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In 1996 a federal judge found the legal provision now being used to target Mahmoud Khalil unconstitutional. She was Donald Trump’s sister.
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The Trump administration has appealed to the supreme court to uphold the president’s executive order curtailing birthright citizenship.
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The US Postal Service will reduce its staff by 10,000 through early retirements, and has signed an agreement with Elon Musk’s department of government efficiency (Doge) to streamline its operations, postmaster general Louis DeJoy announced.