News from the South - South Carolina News Feed

Former Republican congressman warns Trump’s tariffs could bring ‘severe consequences’

Published

4 months ago

April 3, 2025

www.youtube.com – WPDE ABC15 – 2025-04-03 09:17:46

SUMMARY: Former President Trump announced aggressive new tariffs, calling it a “liberation day” for the U.S. and declaring economic independence. A baseline 10% tariff will apply to nearly all imports, with additional “discounted reciprocal tariffs” targeting countries like China. Trump argues this will boost American manufacturing and bring jobs back. However, critics, including a former Republican congressman, warn these measures could worsen inflation and risk a recession. Businesses say price hikes could hit consumers quickly. European nations plan retaliatory tariffs, and a Senate effort to curb Trump’s powers over Canadian goods is unlikely to succeed in the House.

During a Rose Garden signing ceremony Wednesday afternoon, President Donald Trump marked what he believed will be America’s “declaration of economic independence” by announcing an aggressive arsenal of tariffs he said will usher in a “golden age” of American manufacturing, but economists and many executives warn will exacerbate inflation and increase the odds of a recession.

“For American families that are sitting around the kitchen table trying to figure out their budgets, any disruption is a lot on them right now and there’s got to be some sensitivity to that,” said former Rep. Drew Ferguson, a Republican who completed his fourth term representing Georgia’s 3rd Congressional District earlier this year.

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News from the South - South Carolina News Feed

Wall Street flirts with its records on hopes for coming cuts to interest rates

Published

1 hour ago

August 12, 2025

Staff Editor

www.abccolumbia.com – Associated Press – 2025-08-12 10:02:00

SUMMARY: On July 29, 2025, the U.S. stock market neared record highs as July inflation data showed a 2.7% year-over-year increase, slightly below expectations. The S&P 500 rose 0.6%, the Dow gained 1%, and the Nasdaq was up 0.5%. This fueled optimism for a Federal Reserve interest rate cut in September to support economic growth, despite inflation risks from tariffs. The Fed remains cautious, balancing inflation control with job market health. Internationally, Australia cut rates again, and Asian markets reacted to tariff delays with mixed moves. Key stocks showed volatility amid mixed earnings and economic forecasts.

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The post Wall Street flirts with its records on hopes for coming cuts to interest rates appeared first on www.abccolumbia.com

News from the South - South Carolina News Feed

Trump is promising new steps to tackle homelessness and crime in Washington

Published

1 day ago

August 11, 2025

Staff Editor

www.abccolumbia.com – Associated Press – 2025-08-11 09:58:00

SUMMARY: President Donald Trump announced plans to address homelessness and crime in Washington, D.C., proposing to deploy about 500 federal law enforcement officers—including FBI, ATF, DEA, ICE, and Marshals—to patrol the city. He vowed to “liberate” the capital and remove homeless people “immediately,” relocating them away from the city, while promising to incarcerate criminals. Washington Mayor Muriel Bowser expressed skepticism about using the National Guard and urged federal support through prosecutors and judges instead. Despite Trump’s claims of a crime surge, D.C. officials report a 26% decrease in violent crime this year. Any federal takeover would require repealing the Home Rule Act, likely facing strong opposition.

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The post Trump is promising new steps to tackle homelessness and crime in Washington appeared first on www.abccolumbia.com

News from the South - South Carolina News Feed

Watching the tropics

Published

2 days ago

August 10, 2025

Staff Editor

www.youtube.com – WYFF News 4 – 2025-08-10 07:47:25

SUMMARY: Happy Sunday starts mild and gloomy in the Upstate, with temperatures in the low 70s, cooler in the mountains. Afternoon highs reach the low 80s, below average, with a 20% chance of rain and some sunshine. Showers increase Monday and Tuesday, with scattered storms likely, especially during the morning commute. Tropical activity is increasing, with a tropical wave off Africa having an 80% chance of developing into Invest 97L, potentially becoming Hurricane Erin, the season’s first hurricane. Track uncertainty remains, ranging from Bermuda to Florida. Locally, expect scattered showers and storms through the week, with temperatures returning near average by next weekend.