Incoming US President Donald Trumpposted on Tuesday that he will create an “External Revenue Service” to oversee his planned trade tariffs, underlining his commitment to these policies – much to the chagrin of America’s neighbors.
“We will begin charging those that make money off of us with Trade, and they will start paying, FINALLY, their fair share,” wrote Trump.
The news came a day after Mexican President Claudia Sheinbaumlaid out a plan to decrease Mexico’s trade deficit with China in what was widely seen as an olive branch to Trump.
By aligning more closely with Trump against China, Sheinbaum hopes she can carve out a special exception for Mexico, and a stronger hand in renegotiations of the US-Mexico-Canada trade agreement. Her administration has already cracked down on the import of counterfeit goods from Asia and placed tariffs on Chinese e-commerce platforms Shein and Temu. She also plans to cut down on reliance on imports for textile and auto manufacturers based in Mexico — but whether that will spare her the wrath of the ERS is yet to be seen.
North of the border, meanwhile, outgoing PM Justin Trudeau is also working on a plan to defend Canada’s trade interests with the US. He will hold a cabinet retreat next week to hammer out a potential response to Trump’s tariffs.It's been a busy year for SCOTUS, and some major Court rulings are still looming. Yale legal scholar Emily Bazelon previews the cases that could reshape presidential power.
South Korea's President Lee Jae-myung's Democratic Party is poised to win 11 of 16 municipal races, a reversal from four years ago when the now-disgraced PPP dominated. But Lee’s surging popularity has foreign policy ramifications.
As America approaches its 250th anniversary, Bank of America is investing in the legacy of leadership — committing $5M to the Theodore Roosevelt Presidential Library and conserving 110 presidential portraits at the Smithsonian National Portrait Gallery, so the history of leaders who defined our nation is preserved for generations to come. Learn more here.
Chris, an Army veteran, started his Walmart journey over 25 years ago as an hourly associate. Today, he manages a Distribution Center and serves as a mentor, helping others navigate their own paths to success. At Walmart, associates have the opportunity to take advantage of the pathways, perks, and pay that come with the job — with or without a college degree. In fact, more than 75% of Walmart management started as hourly associates. Learn more about how over 130,000 associates were promoted into roles of greater responsibility and higher pay in FY25.