We are examining the latest news on President Trump’s economic policy: prices, transactions and of course, the massive spending bill which is now in front of the Senate.
Ayesha Rascoe, host:
The major bill on President Trump’s taxation is on the way to the Senate, and he still includes major discounts in programs like Medicaid and food coupons. Meanwhile, the legal prices on the president’s rates continue while businesses and consumers try to understand where things are. The main correspondent for the White House NPR, Tamara Keith, joins us now. Hello, Tam.
Tamara Keith, Byline: Hello, Ayesha.
Rascoe: So, is it clear what Trump’s economic policy is really at this stage?
Keith: Well, the plan is to make this bill, to inject money into the economy through tax reductions, hunger from the government as much as they can, then, in theory, to negotiate trade agreements which are favorable in the United States in reality, we have exceeded the median point of the 90-day tariff pause. Officials of the White House said that they have been about to do agreements for weeks now, but there is not yet much to show. As you mentioned, the prices have difficulties in court, although the current state of play is that they can proceed for the moment. And Trump’s pricing policy was a kind of high roller coaster – huge prices announced and then partially behind.
On Friday, there were good economic news. A key measurement of inflation has shown little change. The increase in prices focused on prices that many have warned of consumers have not yet struck consumers. The stock market was also positive in May after a truly rocky April after the launch of the Trump trade war. Trump therefore declared victory with his usual grandiosity.
Rascoe: OK. Well, President Trump’s rallying cry is America first. You have made some reports on an agreement he announced between Nippon Steel and US Steel. What do we know about this offer?
Keith: Yes, he organized a rally outside Pittsburgh to celebrate the planned partnership, as he called, but the agreement is not yet signed. The way it has been structured for more than a year has been that the Japanese company acquires American steel to a very heavy surplus, and this is important because President Biden blocked the sale when he was president for reasons of national security. And during the campaign, Trump promised that he would do the same, but he has now reversed, saying that Us Steel will still be controlled by the United States. But no one seems to know how it will work. Friday evening, when I asked President Trump after the rally if it was an acquisition, if Japanese would have an American steel, Trump did not respond directly, but he described it as an investment.
Rascoe: OK. The Chamber therefore barely adopted the bill on the tax reductions of President Trump, and it is now heading for the Senate. What are you looking for there?
Keith: Yeah. The big questions are how difficult it will be for the Senate republicans to pass this and the number of changes they will bring to the room version. There is a lot of pressure on the Senate Republicans, as it essentially contains the Trump’s inner agenda in a single bill – tax reduction, immigration expenditure, Medicaid reductions and other programs. Democrats are accompanied by food assistance and Medicaid cuts, which provides health care to low -income Americans.
And the republican senator Joni Ernst of Iowa gave them a gift with his comments now viral to a town hall. It was a controversial gathering, and at one point, someone in the public made fear that the Medicaid cuts could have fatal consequences for the millions of people who could lose the coverage. And Ernst replied, quote: “We are all going to die. For the sakes of paradise, friends.” And then yesterday, she doubled in a sarcastic post on Instagram.
(Soundbit of archived registration)
Joni Ernst: I made the incorrect hypothesis that everyone in the auditorium understood that, yes, we will all perish this land. So I apologize. And I’m really, really happy not to raise the subject of the dental fairy as well.
Keith: He must therefore not disappear very quickly. Trump demands that his party make a tail, but some republican senators are alarmed by the quantity that should add to the deficit, and at least one has made an alarm on Medicaid reductions being a political poison.
Rascoe: And finally, late last night, President Trump announced that he was withdrawing the appointment of the technological billionaire Jared Isaacman, an partner of Elon Musk, to direct NASA. What do we know about it?
Keith: You know, his confirmation process was good, but President Trump displayed last night that he had made this decision after an in -depth examination of the previous associations of Isaacman. In this version of the Trump administration, loyalty is required, the verification is improved and Isaacman had made contributions to the campaign to the Democrats over the years.
Rascoe: He’s the main correspondent for the White House of NPR, Tamara Keith. Thank you for talking to us.
Keith: You are welcome.
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