President-elect Donald Trump vows to hit Canada, Mexico and China with new tariffs on their products coming into the U.S. And TSA is laying out its expectations as the Tuesday before Thanksgiving is one of the busiest travel days of the year. These stories and more highlight your Unbiased Updates for Tuesday, Nov. 26, 2024.
Trump plans new tariffs on Canada, Mexico, China over drugs, migrants
President-elect Donald Trump has announced some of the first executive orders he plans to issue on day one of his administration. Trump said he will make good on a campaign promise by raising tariffs on goods from China, Canada and Mexico – the latter two being the top trading partners of the U.S. – due to illegal border crossings and drugs entering the country.
Trump made the announcements Monday night, Nov. 25, on his Truth Social platform. He targeted Canada and Mexico first.
The president-elect said on his first day in office, he will impose a 25% tariff on all products coming into the United States from those two countries, which account for 30% of trade volumes. Trump said the tariffs will remain in effect until drugs, specifically fentanyl, and illegal immigrants stop crossing into the U.S.
— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) November 26, 2024
“Both Mexico and Canada have the absolute right and power to easily solve this long simmering problem,” Trump said. “We hereby demand that they use this power, and until such time that they do, it is time for them to pay a very big price!”
In a second post on Truth Social, Trump turned his attention to China, saying he’ll charge China an additional 10% above any other tariffs on all their products coming into the U.S.
While he said he has had many talks with Chinese officials about drugs being sent into the U.S., Trump said nothing has changed. He added, “Representatives of China told me that they would institute their maximum penalty, that of death, for any drug dealers caught doing this but, unfortunately, they never followed through, and drugs are pouring into our country, mostly through Mexico, at levels never seen before.”
Reaction has been coming in from the countries affected by Trump’s tariff plans.
Chinese Embassy Spokesperson Liu Pengyu said, “China believes that China-U.S. economic and trade cooperation is mutually beneficial in nature. No one will win a trade or a tariff war.”
In a joint statement, Canada’s deputy prime minister, Chrystia Freeland, and public safety minister, Dominic LeBlancr, said, “Canada and the United States have one of the strongest and closest relationships – particularly when it comes to trade and border security. Canada places the highest priority on border security and the integrity of our shared border.”
Ricardo Monreal, Mexico’s lower house leader for the ruling party, responded in a post on X, saying, “The imposition of a possible tariff on Mexican products goes against the United States–Mexico–Canada agreement and does not solve the common problems of the border between Mexico and the United States…escalating trade retaliation would only hurt the people’s pocketbooks.”
Scott Bessent, Trump’s nominee for treasury secretary — who says tariffs would not add to inflation — supports the move, but many economists forecast tariffs would increase prices for U.S. consumers.
The Peterson Institute for International Economics estimated over the summer the tariff plan Trump promised on the campaign trail, which included 60% tariffs on Chinese goods, would cost the typical U.S. household more than $2,600 a year.
A CNBC analysis said retail chains like Five Below and Dollar Tree, along with online outlet Wayfair, would be some of the most vulnerable companies when it comes to a trade war.
Meanwhile, multiple reports said President-elect Trump spoke with Canadian Prime Minister Justin Trudeau Monday night following the social media posts. The reports said the two had a “good conversation” about trade and border security.
Federal judge dismisses Trump’s 2020 election interference charges
Special Counsel Jack Smith has dropped all federal charges against President-elect Trump in connection with attempting to overturn the 2020 election results. He filed the motion Monday and a federal judge granted it within hours.
A different judge had already dismissed the federal charges against Trump for mishandling classified documents. Smith was appealing that decision before he dropped those charges as well on Monday.
The Justice Department’s longstanding position that a sitting president cannot be charged with a crime is set to apply to Trump once he takes office again in January, which is why Smith decided to give up the cases against him.
On Truth Social, Trump posted, “I persevered, against all odds, and won.”
FBI agent acquitted in 2020 shooting arrested on sexual assault charges
An FBI agent has been arrested on charges of sexually assaulting two women, according to police in Montgomery County, Maryland. Authorities there also said they believe there might be other victims out there.
Special Agent Eduardo Valdivia, 40, is facing ten counts, including two of second-degree rape. Court records indicate the incidents happened in May and September of this year.
Valdivia is now suspended from the FBI pending the outcome of this case.
This is not his first brush with the law. In 2020, prosecutors charged Valdivia with attempted murder in an off-duty shooting on a metro train in Bethesda, Maryland. A Montgomery County jury found him not guilty in that case in 2022.
Macy’s says employee hid $154M in expenses, delays Q3 report
Macy’s said one employee intentionally created so many accounting inconsistencies it had to delay its quarterly report.
While the department store chain said it saw stronger-than-expected sales from July to October this year, it also discovered a now-former employee hid up to $154 million in expenses over nearly three years. The company said the issue was related to delivery expenses in one of its accrual accounts.
Macy’s delayed its third-quarter earnings report after the retailer said an employee hid up to $154 million in delivery expenses over several years, prompting an investigation https://t.co/7PlNTb2qp0
— The Wall Street Journal (@WSJ) November 25, 2024
While the questionable expenses only account for a small fraction of the $4.36 billion in delivery expenses during that almost three-year period, the company found the errors to be significant enough to delay reporting its full quarterly earnings.
That report was originally set to be released Tuesday, Nov. 26. It has now been pushed back until Dec. 11.
TSA preparing for ‘busiest Thanksgiving ever’ for air travel
Thanksgiving travel is taking off and this year is expected to be another for the record books. The Transportation Security Administration said it’s ready for the rush and expects to screen 18.3 million people at U.S. airports from Tuesday through next Monday, Dec. 2.
Today we kick off our busiest travel week of the year! Flying to visit with family or friends? Start your packing with an empty bag. Leftover items from past adventures often include prohibited items. Unsure what’s allowed in your carry-on or checked bag? Send a DM to our @AskTSA… pic.twitter.com/kduiVqKY5a
— David P. Pekoske (@TSA_Pekoske) November 25, 2024
The Sunday after Thanksgiving, Dec. 1, is expected to be the busiest day for air travel. The TSA estimates more than three million people are likely to pass through their checkpoints that day alone.
Meanwhile, AAA predicts nearly 80 million Americans will travel at least 50 miles from home — most of them by car.
The busiest days for Thanksgiving travel this year are expected to be Tuesday, Wednesday, Nov. 27, and Sunday.
Dictionary.com chooses ‘demure’ as word of the year
Dictionary.com has named its 2024 Word of the Year. This year’s pick is “demure.”
The word went viral after a video was posted on TikTok by user @JoolsLebron in August. Dictionary.com said demure saw a nearly 1,200% increase in usage in digital web media alone from January to the end of August, mainly attributed to the video.
The website said while demure was traditionally used to describe those who are reserved and quiet, the new usage seen on social media is meant to describe refined and sophisticated appearance or behavior.
