Free Republic

Police in Brazil swooped on the home and political headquarters of Jair Bolsonaro early Friday, searching the properties, ordering the former president to wear an electronic ankle tag, barring him from speaking to foreign officials or approaching embassies and prohibiting him from using social media. The restrictions, ordered by Brazil’s Supreme Court, were motivated by concerns that Bolsonaro would flee the country, amid his trial over an alleged plot to overturn the results of the 2022 presidential election to remain in power. Bolsonaro has denied wrongdoing. Federal police also accused Bolsonaro and his son, Eduardo, of conspiring with the US...

America is the biggest consumer market in the world. In 2024, Americans spent >$19 trillion on consumer goods. Over $4 trillion of this was on imports. This means, in nominal terms, that Americans bought more than just about any other country on earth produced. America is the world’s forum, the bazaar, the emporium, the supermarket—the shopping mall. And just like how the biggest store in town can pressure suppliers to cut costs, America’s buying power gives us leverage over prices—leverage that can be translated into profits via tariffs. Essentially, if foreign producers want to sell their goods to American consumers—which...

The University of Michigan's Survey of Consumers for July showed overall sentiment rose 1.8% from June to 61.8, exactly in line with the estimate and at the highest since February. On inflation, the outlook at both the one- and five-year horizons both tumbled, falling to their lowest levels since February. Consumers' worst fears about tariff-induced inflation have receded, though they are still wary of price increases to come, according to a University of Michigan survey Friday. The university's closely watched Survey of Consumers for July showed overall sentiment increased slightly, rising 1.8% from June to 61.8, exactly in line with...

While headlines chase shadows and social media churns with conspiracies about Jeffrey Epstein, something far more serious—yet underreported—is unfolding: America just ran a budget surplus in June.That’s right — the U.S. government, long buried under record-breaking deficits, posted a $27 billion surplus, the first for that month in eight years. And it wasn’t a fluke. It was driven largely by one policy move: tariffs.Back in April, critics warned that Donald Trump’s newly announced “Liberation Day” tariffs would tank the economy.Instead, those tariffs have proven to be a financial engine.Trump invoked the International Emergency Economic Powers Act (IEEPA) to declare a...

<p>MONTEROSI, Italy (Reuters) -Producers of Pecorino Romano cheese, one of Italy's best known food exports, are lobbying to be spared new U.S. tariffs that could raise consumer prices and take a chunk out of their export market.</p><p>Gianni Maoddi, president of the Consorzio di Tutela del Pecorino Romano, said the cheese has for more than 140 years been popular in the United States, which accounts for around 40% of annual exports.</p>

This morning I finalized an important Deal with the Republic of Indonesia after speaking with their Highly Respected President Prabowo Subianto. This landmark Deal opens up Indonesia’s ENTIRE MARKET to the United States for the first time in History. As part of the Agreement, Indonesia has committed to purchasing $15 Billion Dollars in U.S. Energy, $4.5 Billion Dollars in American Agricultural Products, and 50 Boeing Jets, many of them 777’s. For the first time ever, our Ranchers, Farmers, and Fishermen will have Complete and Total Access to the Indonesian Market of over 280 million people. In addition, Indonesia will pay...

The U.S. government posted a surplus in June as tariffs gave an extra bump to a sharp increase in receipts, the Treasury Department said Friday. With government red ink swelling throughout the year, last month saw a surplus of just over $27 billion, following a $316 billion deficit in May. That brought the fiscal year-to-date deficit to $1.34 trillion, up 5% from a year ago. However, with calendar adjustment, the deficit actually edged lower by 1%. There are three months left in the current fiscal year. A 13% increase in receipts from the same month a year ago helped bridge...

President Donald Trump on Monday confirmed that the U.S. has agreed to sell arms to NATO just moments after he said Russian President Vladimir Putin has 50 days to secure a peace deal with Ukraine or face "100%" tariffs. NATO Secretary-General Mark Rutte said Trump called him on Thursday to confirm he wanted to enter into a deal with NATO allies to sell them arms for aid to Ukraine. Trump said billions of dollars worth of U.S. arms would be purchased from allies like Germany, Finland and Denmark that will be "quickly distributed" to Ukraine. "This is really big," Rutte...

The EU is prepared to take the necessary steps to safeguard its interests if the U.S. proceeds with imposing a 30% tariff on European goods starting Aug 1, European Commission President Ursula von der Leyen said on Saturday. Von der Leyen, who heads the EU's executive arm, said in a statement that the bloc remained ready "to continue working towards an agreement by Aug 1". "Few economies in the world match the European Union's level of openness and adherence to fair trading practices," she continued. "We will take all necessary steps to safeguard EU interests, including the adoption of proportionate...

“Everyone Should Start Preparing For This....l Thomas Sowell” - They told you tariffs would destroy the economy. They told you foreign partnerships were sacred. They told you Donald Trump didn’t understand trade. But now—just months after the media assured us he was politically finished—he’s back at the negotiating table, and this time, he’s rewriting the rules in a way they never thought possible. On July 2nd, 2025, with almost no media fanfare, Trump announced a groundbreaking trade deal with Vietnam: 20% tariffs on all imports, 40% on transshipped goods—which are China’s favorite loophole—and in return, Vietnam will allow American exports...

President Donald Trump on Saturday announced he's levying tariffs of 30% against the European Union and Mexico. Trump announced the tariffs on two of the United States' biggest trade partners in letters posted to his social media account. In his letter to Mexico's leader, Trump acknowledged that the country has been helpful in stemming the flow of undocumented migrants and fentanyl into the United States. But he said the country has not done enough to stop North America from turning into a "Narco-Trafficking Playground." Trump in his letter to the European Union said that the U.S. trade deficit was a...

The federal government posted an unexpected budget surplus in June, fueled by a sharp rise in tariff revenues and higher-than-anticipated tax receipts, marking a notable vindication for President Donald Trump’s economic strategy. The $27 billion surplus reported Friday by the Treasury Department stood in stark contrast to forecasts for a $50 billion deficit, representing one of the largest upside surprises in recent budget data. Monthly surpluses typically occur in April, when many Americans file their taxes. Surpluses are also common in January and September. A June surplus is highly unusual. Much of the improvement stemmed from a 301 percent increase...

Brazil threatened to hit back against Donald Trump’s plan to introduce 50% tariffs on its exports with its own 50% tariff on US goods, setting the stage for a precipitous trade war. “If he charges us 50%, we’ll charge him 50%,” Luiz Inácio Lula da Silva, the Brazilian president, told local news outlet Record, a day after Trump threatened to impose steep duties on Brazilian goods and accused the country of conducting a “witch-hunt” against its former president Jair Bolsonaro, who is facing a trial over his attempt to overturn his 2022 election defeat. Brazil could appeal to the World...

When President Trump announced tariffs in April, officials in Kazakhstan were surprised to see their country on the list. Kazakhstan, a resource-rich country that borders Russia and China, does a minimal amount of trade with the United States. And based on how Kazakh government officials interpreted Mr. Trump’s new policies, more than 90 percent of its exports to the United States would be exempt from the tariff. American officials have spent much of the last decade promising money and support to prod the country to open up its economy, especially mining. "Many in the region saw the U.S. as a...

President Donald Trump announced a 35 percent tariff on Canadian imports starting August 1. The president's bold move is aimed at reinforcing the principle of putting America first, ensuring that American businesses can compete on a level playing field, and that workers receive the support they deserve. On Thursday, Trump revealed that the new tariffs would target Canadian goods entering the U.S., framing the move in response to “Canada’s retaliation” and persistent trade obstacles. In an official letter, he explained the reasons behind the sharp increase in tariffs, accusing Canada of not cooperating on critical matters—especially the flow of fentanyl...

On Tuesday, President Trump told reporters he plans to raise tariffs on copper to 50 percent. Copper futures surged by 17 percent shortly afterwards—the largest intraday gain since at least 1988. Many will make—or lose—a small fortune on Wall Steet in the coming days and weeks. No doubt, the winners will gas-up the Presidency for protecting America’s economy: tariffs are good! Meanwhile, the losers will accuse him of economic illiteracy: tariffs are bad! Which is it? Are tariffs good or bad? The answer: both. Tariffs are good when they promote economic growth or economic self-sufficiency. If not, then tariffs are...

Treasury Secretary Scott Bessent on Tuesday said the U.S. has taken in about $100 billion in tariff income so far this year, and this could grow to $300 billion by the end of 2025 as collections accelerate from President Donald Trump's trade campaign. Bessent, speaking to a White House cabinet meeting, said the major collections from Trump's new tariffs only started during the second quarter, when Trump implemented a near universal 10% duty on U.S. imports and boosted duties on steel, aluminum and autos. "So we could expect that that could be well over $300 billion by the end of...

President Trump sure knows how to spoil an economic mood. Three days after he signed the GOP’s big budget bill, saving the economy from a scheduled $4.5 trillion tax increase, Mr. Trump was back playing the role of Tariff Man. On Monday he announced 25% tariffs on Japan and South Korea, while adding to renewed will-he-or-won’t-he uncertainty for the U.S. economy and trading partners. In letters to Japan’s Prime Minister and South Korea’s President, Mr. Trump huffs and puffs again about bilateral trade deficits, which he mistakenly thinks are a sign of foreign exploitation. “We must move away from these...

The Trump Administration has extended the global trade negotiation deadline to August 1, 2025. So far, less than a handful of countries have been able to work out interim deals, including the United Kingdom, Vietnam, and (ironically) China. A few others, like India, have offered zero-for-zero tariffs with the United States—free trade, at least on paper. President Trump’s team has so far avoided making any “free trade” deals. They are right to be skeptical. Why? Real global free trade—much like real communism—has never been tried! And this is not for lack of trying. It’s because it is impossible. In reality,...

A new CESifo working paper, blandly titled “Making America Great Again? The Economic Impacts of Liberation Day Tariffs,” lands with all the drama of a footnote—until you read what it actually says. If the U.S. can impose tariffs without sparking retaliation, it can come out ahead. Higher wages. Smaller trade deficit. Slightly lower taxes. A net gain in welfare. That’s not a MAGA slogan. That’s a math-based result. The study, authored by economists from UC Davis, the Norwegian School of Economics, Indiana University, and the University of Milan, builds a global trade model to simulate Trump’s April 2 tariff policy—what...