Snapshot · Schwab Network
President Trump imposed a 50% tariff on most Canadian goods, citing discriminatory Canadian trade barriers on American auto, dairy, and alcohol industries.
Where this was said
At 3:48 · chapter starts 3:23
The tariff calendar is about to flip. U.S. Trade Representative Jameson Grier told markets that new trade actions could be announced imminently as the administration finalises its strategy before temporary Section 122 tariffs under the 1974 Trade Act lapse at 12:01 a.m. Eastern on Friday. [1] — Marley Kayden "Temporary U.S. tariffs under Section 122 of the 1974 Trade Act expire at 12:01 a.m. Friday with no congressional action expected. New dutie…" 03:23 Congress has shown no appetite to intervene, meaning the expiration is effectively certain. The administration's next move appears to be a pivot to Section 301 — a separate provision of the same 1974 trade law that allows for retaliatory measures against alleged unfair foreign trade practices, in this case forced labor. Separately, President Trump has already imposed a 50% tariff on most Canadian goods, citing what he characterised as discriminatory trade barriers affecting American auto, dairy, and alcohol sectors — ratcheting up pressure on a long-standing trade relationship.
Temporary U.S. tariffs under Section 122 of the 1974 Trade Act expire at 12:01 a.m. Friday with no congressional action expected. New duties will likely come under Section 301, framed around alleged forced labor — and a 50% tariff on most Canadian goods is already in place.
Temporary U.S. tariffs brought under Section 122 of the Trade Act of 1974 will expire at 12:01 a.m. Eastern on Friday unless Congress intervenes.
A total of 8 states have filed lawsuits against social media platforms, including an ongoing case in Tennessee, using product liability and public nuisance theories to seek accountability.
France built 56 nuclear plants in the 1970s and now has the cheapest energy in Europe, making it independent of Russian or Middle Eastern energy geopolitics.
Estonia has a single tax form, a law preventing the government from asking citizens for the same information twice, and a flat rate of tax — enabling competitive taxation.
Portugal's Lisbon, once a city with a major heroin problem, legalised drugs and redirected enforcement spending into rehabilitation and housing, dramatically reducing crime.
The first Boland Amendment banning CIA and Defense Department funds for the Contras passed the House unanimously — yet the Reagan administration ignored it.
Over just two years, Saudi Arabia alone donated $32 million to the Contra rebels, giving loosely affiliated factions millions they had no way to spend on arms.
The National Endowment for the Preservation of Liberty raised $6.3 million for the Contras but only $3.3 million reached them — a shockingly low 52% program expense rate.
Richard Secord and Albert Hakim marked up their arms shipments to the Contras by as much as 300%, making enormous personal profits from the covert operation.
Lieutenant Colonel Oliver North, tapped to run the entire covert Contra support operation, had no prior experience in covert operations whatsoever — he was learning as he went.
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