Donald Trump

The Federal Register published a presidential memorandum concerning a committee of inquiry into allegations against Lisa Cook. The memorandum directs the committee to conduct an in-person hearing on November 5, 2026.

The American Farm Bureau Federation said it wanted the rules to remain in place. It also asked that the rules be highlighted in the report sent to the president.

Donald Trump established a committee of inquiry to investigate allegations that Lisa D. Cook made false statements in connection with mortgage instruments. Associated Press reported that the committee was part of Trump’s effort to remove Cook from the Federal Reserve Board.

The White House announced that nearly 70 million Trump Accounts had been created, including more than 60 million through automatic enrollment. ABC News reported that Donald Trump described enrollment of 70 million children as historic.

Donald Trump announced that the administration would send a one-time payment to around one-third of people enrolled in Medicare Part B. The announcement was made on October 2.

Donald Trump said he wanted Federal Reserve Chair Kevin Warsh to vote as Trump wanted on interest rates. The statement followed Warsh's participation in the September rate increase.

Donald Trump said he would probably have voted against the Federal Reserve Board if he were Kevin Warsh. He said Warsh should have voted against the Federal Reserve's recent decision to raise interest rates while saying he did not hold Warsh personally responsible.

Jamieson Greer said Donald Trump was comfortable with the United States' position on Canada. Greer said there was no urgency on the U.S. side to conclude a trade deal with Canada.

The American Farm Bureau Federation said its economists tracked 41 locations since Labor Day. It reported that average prices had fallen 16 cents per pound.

Lisa Su said she would attend the state dinner scheduled for the following night. She said technology leaders would seek stability across the technology ecosystem.

Donald Trump said the United States would continue to buy potash from Canada. He said Belarus wanted to sell potash at a lower price.

Donald Trump said the United States was working on a deal to purchase potash from Belarus. The statement described a prospective arrangement and did not announce a completed contract.

Ahead of Trump's meeting with Xi Jinping, House Select Committee on China chairman John Moolenaar wrote to the president asking him to slow China's AI development by strengthening controls on advanced AI products, closing the cloud-service loopholes that let Chinese companies dodge them, and halting exports of American and allied semiconductor-manufacturing technology. The letter argued the PRC is not a long-term market for American AI because Beijing is refusing to let its own labs legally buy American technology.

Donald Trump signed a memorandum directing U.S. agencies to examine Canadian-origin items in federal civil procurement. The memorandum instructed the United States Trade Representative to monitor Canada's treatment of U.S.-origin items in Canadian procurement markets.

Donald Trump threatened possible new tariffs against the European Union over the proposal to make Canada an EU associate member. He said the tariffs would depend on whether he judged the proposal's intention to be bad.

Donald Trump said he told Kevin Warsh to vote with the Federal Reserve Board because the outcome would not change. Axios reported Trump's statement on September 17.

Revisions to the Section 338 tariff schedule under the U.S. motor-vehicles proclamation took effect on September 15, 2026. The changes applied to goods entered for consumption or withdrawn from warehouse for consumption on or after that date.

After Trump said a deal could come fairly soon, Carney said a mutually advantageous agreement remained possible, one respecting Canadian sovereignty and cultural institutions, and that Canada was ready to sit down and negotiate. He said he remained in regular contact with Trump and was open to re-engagement if the United States respected Canada's red lines.

Donald Trump said a trade deal with Canada could come fairly soon. Reporting said he gave no details on whether formal talks between the two economies had resumed.

Mark Carney said Canada might hold off on further retaliation against the latest U.S. trade measures. The federal government was studying the tariffs and import bans while considering whether to adjust retaliatory tariffs.

Alongside the import bans, Trump directed the U.S. Trade Representative and the General Services Administration to remove Canadian-origin products from GSA's Multiple Award Schedules, the catalogue federal agencies buy from. USTR put the affected products at $50 billion and Trump posted that U.S. companies were barred from equivalent Canadian programs: no reciprocity, no access.

Within hours of Canada's duties, Trump signed five more Section 338 proclamations. Because the provincial alcohol bans and the dairy quotas remained, the orders ban certain Canadian alcohol, dairy and other goods outright from September 29, mirroring the provincial bans on American liquor, and swap cement, road salt and hospital pads out of the 50 percent list for ATVs, more cheeses and motorboats from September 15. Officials said the threatened 50 percent tariff on Canadian cars and trucks from January 1 remained on the table.

On the eve of Canada's counter-tariffs, Trump posted that Bombardier could no longer sell in the United States unless it built there, saying more than half its revenue came from American buyers and that Canada had blocked Gulfstream. Bombardier replied that it employs people in more than 20 states and builds its jets with American engines and avionics; Senator Jerry Moran noted its 1,000-plus workers in Wichita. How a sales halt would be enforced, given that the FAA certifies aircraft, was unclear.

Executive Order 14425 directed the Secretary of Agriculture to review authorities that may allow mandatory country-of-origin labeling for beef products. The Secretary was directed to consult the United States Trade Representative within 90 days.

Executive Order 14424 directed the Secretary of Agriculture to prioritize and expand investigations of possible Packers and Stockyards Act violations. The order called for attention to practices that restrain commerce or manipulate prices.

AsiaToday reported that Howard Lutnick told CNBC on September 2 that he did not expect export-control easing to be on the summit agenda. NationPress, published September 3, quoted him as saying that Donald Trump had offered China H200 chips and equivalent chips from AMD and other suppliers.

Politico reported that NVIDIA and AMD urged the Trump administration to discourage lawmakers from including China-related chip-export restrictions in the annual defense policy bill. The reported outreach sought to prevent the proposed restrictions from being added to that bill.

The August proclamation raised the aggregate in-quota quantity by 300,000 metric tons for 2026, administered first come, first served in three 100,000-tonne tranches opening September 1, October 1 and October 31. The volume was allocated entirely to "other countries or areas," leaving the February Argentine allocation untouched, and the Agriculture Secretary and USTR were told to check whether the imports were in fact selling 25 percent below the market price.

The Section 338 duties started at midnight on roughly $20 billion of exports including wine, furniture, dairy, cement, clothing and hockey equipment, about 4 percent of what Canada sells to the United States. At a press conference Carney promised dollar-for-dollar retaliation from September 8, concentrated in steel, dairy, appliances, farm equipment, pulp and paper and electronics, and when asked why it felt like going to war, said 'because we were attacked'. The Canadian dollar fell on Monday.

In a Truth Social post Trump said he had concluded a deal under which the United States would let up to 300,000 metric tons of ground-beef product in with no out-of-quota tariff for 90 days, with a commitment that it be sold 25 percent below market prices. Cattle markets fell that morning, and NCBA chief executive Colin Woodall said flooding the market with government-subsidised below-market beef was not the way to rebuild the American herd.

With the 50 percent duties due at 12:01 a.m. on August 19, Trump posted that they were paused for three days because the two countries had a deal subject to finalizing documents. A proclamation said Canada had committed to remove the alcohol, dairy and vehicle measures. Carney's statement said substantial progress had been made with important work still to do, and confirmed the postponement to end of day August 21.

Following the Supreme Court's instruction that Cook was entitled to notice and a chance to respond, deputy chief of staff Dan Scavino wrote that the president was considering removing her and gave her until August 26 to answer the mortgage allegations. Her lawyers called the allegations as baseless as a year earlier and, in a five-page reply on August 26, noted that the Treasury secretary and the attorney general had faced similar accusations.

Trump revived Section 338 of the Tariff Act of 1930, which lets a president impose up to 50 percent duties on a country that discriminates against U.S. commerce, and signed three proclamations targeting Canada's auto tariffs and quotas, the provincial bans on American alcohol and the cheese tariff-rate quotas. Unlike the fentanyl tariffs, the duties applied regardless of USMCA origin, covering goods from wine to hockey sticks to cement, and were to take effect in 30 days. Carney said Canada had merely matched U.S. measures and was ready to intensify talks.

The first market open after the launch was marked by a joint NYSE and Nasdaq bell-ringing in the Oval Office with Bessent and CEOs including Michael Dell. Trump's praise of Dell sent the company's shares sharply higher during the session.

On July 4, 2026 Treasury launched the full app and the accounts themselves: the $1,000 pilot deposits began flowing to eligible children, families could contribute up to $5,000 a year, and balances were invested in low-cost index funds from providers including State Street, BlackRock and Vanguard, locked until age 18.

Chief Justice Roberts, joined by Sotomayor, Kagan, Kavanaugh and Jackson, denied the government's application to remove Cook while her suit proceeds, holding that the Federal Reserve Act's for-cause protection is constitutional and that a governor must receive notice and some opportunity to respond before removal, which Cook had not. The Court said eliminating that protection was for Congress, even as it had allowed at-will removal at most other independent agencies.

Justice Clarence Thomas administered the oath in the East Room with Trump present, saying he wanted Warsh to be totally independent. The Fed noted that Trump had formally nominated Warsh on March 4, the Senate had confirmed him as a governor on May 12 and as chair on May 13, and that his term as chair runs to May 21, 2030, with a board term to January 31, 2040. The same day the FOMC unanimously chose him as its chairman.

At the Great Hall of the People, He Lifeng invited multinationals including AMD to deepen cooperation, citing the outcomes of the May 13 to 15 Xi–Trump summit, and Su said AMD would expand its operations and investment in China. Su had not been part of the executive delegation that travelled with Trump.

Chief Judge James E. Boasberg granted the Federal Reserve Board's motion to quash Justice Department subpoenas. The ruling concerned the Powell investigation.

A White House release credited the administration with mortgage rates at their lowest level since 2022, refinance applications up 132 percent and the Realtors' affordability index at its highest since March 2022. It listed the US$200 billion directive to Fannie Mae and Freddie Mac among the actions taken to lower borrowing costs.

In Learning Resources v. Trump the Court held 6 to 3 that IEEPA does not authorize tariffs, ending the 35 percent fentanyl tariff on non-USMCA goods and the 10 percent energy rate. The relief for Canada was limited: about 90 percent of its exports were already exempt, the Section 232 tariffs on steel, aluminum, autos and lumber were untouched, and Trump replaced the lost tariffs with a Section 122 global surcharge from February 24 that exempted CUSMA-compliant goods.

Hours after the ruling Trump signed Proclamation 11012 under Section 122 of the Trade Act of 1974, a balance-of-payments authority that allows an import surcharge of up to 15% for at most 150 days without Congress. The 10% surcharge applied to imports from all countries from February 24 with product exceptions, and by statute expired on July 24, 2026. Trump called the Court's decision extraordinarily anti-American and briefly raised the rate to 15%, drawing a new suit from 24 states.

Trump signed a proclamation temporarily raising the beef tariff-rate quota, letting an additional 80,000 metric tons of Argentine lean beef trimmings in duty-free during 2026 in four quarterly tranches of 20,000 tonnes. Lean trimmings are blended with fattier domestic trimmings to make ground beef, so the action targeted the single most politically visible price in the grocery store.

Ending a search that had run since the summer of 2025 and considered nearly a dozen names, including governors Waller and Bowman, Trump announced on Truth Social that former governor Kevin Warsh, 55, would be his nominee for chair when Powell's term ended in May. Warsh, a Fed governor from 2006 to 2011 who had called for regime change at the central bank, would take the board seat held by Miran, whose term expired the next day. Gold and silver fell on the pick as markets read it as less of a threat to independence.

Trump posted that he was decertifying Bombardier's Global Express jets and all aircraft made in Canada until Canada certified Gulfstream's newest planes, and would charge 50 percent on any aircraft sold into the United States if the situation was not corrected. Bombardier shares fell 9 percent the next morning; a White House official said planes already in service were not affected.

Donald Trump said Brad Gerstner was donating $250 to Trump Accounts for all Indiana children under five. Trump made the statement at the Trump Accounts summit.

Days after Carney's Davos speech about middle powers and economic coercion, and after Ottawa and Beijing agreed to lower tariffs on Chinese EVs and Canadian canola, Trump posted that 'Governor Carney' would not make Canada a drop-off port for China and threatened 100 percent tariffs if Canada made a deal. Carney said Canada had no intention of pursuing a free-trade agreement with China and that the arrangement was consistent with CUSMA.

Following Trump's December 8 decision to allow H200-class sales to approved Chinese customers, BIS revised its licensing policy so that applications for the H200, the AMD MI325X and similar chips are reviewed case by case rather than under a presumption of denial. Applicants must show exports will not shrink capacity available to US customers, that the buyer screens its own customers, and that the chips pass independent third-party testing in the United States.

Jerome H. Powell said the Justice Department subpoenas were pretexts. The statement concerned subpoenas served on the Federal Reserve Board.

In a Truth Social post, Trump said he was instructing his representatives to buy US$200 billion in mortgage bonds, arguing that Fannie Mae and Freddie Mac had the cash because he had not sold them in his first term. The Federal Reserve has traditionally been the largest buyer of mortgage-backed securities.

The Trump administration reversed course and said Nvidia could sell its H200 to approved commercial customers in China vetted by the Commerce Department, with 25 percent of the revenue going to the U.S. government. Nvidia welcomed the decision.

The order told the Attorney General and the FTC chairman each to stand up a Food Supply Chain Security Task Force to investigate whether anti-competitive behaviour exists in US food supply chains, and whether foreign control of food industries raises prices or creates a national security risk. It named meat processing alongside seed, fertiliser and equipment, and directed the Attorney General to open criminal proceedings if the task force found collusion.

The Dells announced the largest gift the program had drawn: $250 for every child aged 10 and under living in a ZIP code with median income of $150,000 or less, roughly 25 million children, extending the accounts' reach beyond the newborns covered by the federal $1,000. Trump announced it at the White House with the Dells; the money began landing in accounts in September 2026.

Trump posted an image on Truth Social pairing Franklin Roosevelt under the words 30-year mortgage with himself under 50-year mortgage. FHFA Director Bill Pulte confirmed on X that the agency was working on the product, calling it a game changer. No detail was published on the White House press page, and a 50-year term would not meet the qualified-mortgage rules written after 2008.

In a Truth Social post, Trump said he had asked the Justice Department to investigate the meatpacking industry for collusion and price fixing, arguing that ranchers were being blamed for prices set by what he called majority foreign-owned packers. Ground beef was up about 13 percent year over year at the time, rising faster than almost anything else in the Consumer Price Index.

The department finalized a rule, effective July 1, 2026, amending the definition of a qualifying Public Service Loan Forgiveness employer to exclude organizations it finds engage in illegal activity such as supporting terrorism, aiding illegal immigration or providing gender-transition care to minors. It followed Executive Order 14235 of March 7, 2025, a July negotiated rulemaking and nearly 14,000 public comments.

Ford agreed to pull the ad from Monday but let it run through the weekend's World Series games between the Dodgers and the Blue Jays. From Air Force One on the way to Asia, Trump announced a further 10 percent tariff on Canada on top of existing rates. Trade minister Dominic LeBlanc said Canada still hoped for constructive discussions.

Ontario Premier Doug Ford's government had spent C$75 million to run a U.S. television ad built from Ronald Reagan's 1987 radio address against tariffs. Late on October 23, after the Reagan Foundation complained the speech was edited without permission, Trump posted that all trade negotiations with Canada were terminated, accusing Canada of a fraudulent ad meant to sway the Supreme Court's pending tariff case.

Speaking to reporters aboard Air Force One, Trump said the United States would buy beef from Argentina to bring prices down and to help Buenos Aires. The National Cattlemen's Beef Association objected that the move rewarded a country that sells far more beef to the US than it buys, and Senator Chuck Grassley told AgriTalk the president ought to stop talking about beef prices.

The chair of the Council of Economic Advisers took the oath as a Fed governor one day after a party-line Senate confirmation and two weeks after his nomination, filling Adriana Kugler's seat with a term ending January 31, 2026. He took unpaid leave from the White House rather than resigning, which drew criticism about the Fed's independence, and voted at the next day's meeting.

In a letter posted on Truth Social the president said he was removing Cook for cause, effective immediately, citing FHFA director Bill Pulte's allegation that she had claimed two primary residences in 2021. No president had ever removed a Fed governor. Cook said no cause existed and she would not resign, hired Abbe Lowell and sued; a district court and the D.C. Circuit let her keep her seat while the case went to the Supreme Court.

After a call with Trump, Carney announced Canada would match the U.S. exemption by removing its tariffs on American goods covered by USMCA, saying the two countries had re-established free trade for the vast majority of goods and that Canada had the best deal of any U.S. partner. The steel, aluminum and auto counter-tariffs stayed. Critics asked whether 'elbows up' had become folding; the White House called the move long overdue.

Intel agreed to sell the U.S. government 433.3 million new shares at US$20.47 each, a 9.9 percent stake, paid for with US$5.7 billion of CHIPS Act grants that had been awarded but not disbursed and US$3.2 billion from the Secure Enclave program. The stake is passive, with no board seat.

Six U.S. senators wrote to President Donald Trump asking him to reverse the arrangement allowing AMD and Nvidia to sell advanced AI chips to the People's Republic of China for a fee. The letter said the sales conflicted with U.S. national-security interests and questioned the fee's legal basis.

After the Financial Times reported the arrangement, a White House official confirmed to CBS News that Nvidia and AMD had agreed to pay the US government 15 percent of revenue from H20 and MI308 sales in China as a condition of the export licenses granted the previous week. No regulation was published, a point AMD would later flag to investors.

Reports, first from the Financial Times, said Nvidia and AMD had agreed to hand the U.S. government 15 percent of revenue from H20 and MI308 sales in China as the condition for export licenses. The Register described the arrangement as revealed that week; President Trump confirmed the terms publicly.

With no deal by August 1, Trump signed the executive order lifting the IEEPA tariff on non-USMCA Canadian goods from 25 to 35 percent, citing continued fentanyl flows and Canada's retaliation. Goods qualifying under USMCA remained exempt, which kept the practical hit far smaller than the headline rate, and goods transshipped to evade the tariff faced 40 percent.

The day after Nvidia said it had been assured H20 licenses would be granted, AMD said the Commerce Department would move forward with its MI308 license applications and that it planned to resume shipments as approvals came, praising the administration's trade negotiations. The stock rose more than 6 percent.

Instead of the July 21 deal, Carney got a letter posted to Truth Social raising the fentanyl tariff to 35 percent from August 1, citing Canada's retaliation and its dairy and other trade barriers. Trump warned that any Canadian increase would be added to the 35 percent. Carney replied that Canada had made vital progress on fentanyl and would keep defending its workers toward the new deadline.

The law signed on July 4 added section 530A to the tax code: a tax-deferred account for every child under 18 with a Social Security number, a one-time $1,000 Treasury deposit for children born from January 1, 2025 through December 31, 2028, contributions of up to $5,000 a year (employers up to $2,500 of that), investment limited to low-cost US index funds, no withdrawals until 18, and accounts opening no earlier than July 4, 2026.

President Trump signed the reconciliation law (P.L. 119-21, later rebranded by the administration as the Working Families Tax Cuts Act). For student loans it created the Repayment Assistance Plan and a Tiered Standard plan, ended Grad PLUS for new borrowers and capped graduate ($20,500 a year, $100,000 total), professional ($50,000, $200,000) and Parent PLUS borrowing from July 1, 2026, sunset SAVE, PAYE and ICR by July 1, 2028, and allowed a second loan rehabilitation. Some provisions, such as dropping IBR's partial-financial-hardship test, took effect immediately.

Hours after Congress passed the tax and spending law, the agency issued a press release and a mass email saying nearly 90 percent of beneficiaries would no longer pay federal income tax on their benefits. The law in fact adds a temporary $6,000 deduction for taxpayers 65 and over for 2025 through 2028 and leaves benefit taxation in place; the agency posted a correction on July 7 after tax experts objected. The lost benefit-tax revenue would later show up as a quarter of the deterioration in the 2026 trustees report.

On June 27 Trump said he was terminating all trade discussions with Canada over the 3 percent digital services tax on U.S. tech companies, due for its first collection on June 30. On June 29 Finance Minister François-Philippe Champagne rescinded the tax, and the two leaders agreed to resume negotiations toward a deal by July 21, the deadline set at the G7 summit in Kananaskis.

Weeks after the House passed its reconciliation bill, Trump convened Michael Dell, Uber's Dara Khosrowshahi, Goldman Sachs' David Solomon, Robinhood's Vlad Tenev and others to promote the child investment accounts, renamed from 'MAGA accounts' in the House text. Dell pledged $1,000 for each new child of a Dell employee; the other CEOs promised contributions 'at a level appropriate to their company'. Investor Brad Gerstner's Invest America campaign had pushed the idea.

Trump's proclamation raised the Section 232 tariff on steel and aluminum from 25 to 50 percent, with only the United Kingdom left at 25 percent. For Canada, which ships more of both metals to the United States than any other country, the rate made much of that trade uneconomic, and it stayed at 50 percent through every later negotiation.

A week after winning the election on an anti-Trump platform, Carney sat beside Trump for a cordial but pointed first meeting. Trump said there was nothing Carney could say to make him lift the tariffs, and that morning had posted that the United States was subsidizing Canada by $200 billion a year and did not need its cars, energy or lumber.

Oregon and allied states filed a complaint in Oregon v. Trump at the Court of International Trade. The case challenged executive orders increasing tariffs under IEEPA.

On what the White House called Liberation Day, Executive Order 14257 declared a national emergency over the $1.2 trillion goods trade deficit and used IEEPA to impose a 10% duty on imports from nearly every country from April 5, with country-specific rates of up to about 50% for around 60 trading partners from April 9. Rates were then repeatedly modified: the higher rates were suspended for 90 days, China's rate was raised to 125% and later cut, and the pause was extended into August. These are the reciprocal tariffs at the centre of the litigation.

The day after Trump announced 25 percent tariffs on imported vehicles, new Prime Minister Mark Carney told reporters after a cabinet meeting that the relationship built on deepening economic integration and security cooperation was over, that the United States was no longer a reliable partner, and that Canada would have to dramatically reduce its reliance on it. The line became the frame for his election campaign and his government's trade strategy.

After Ford, GM and Stellantis executives lobbied the White House, Trump amended the orders so that goods qualifying for USMCA preference paid no tariff, energy and potash outside the agreement paid 10 percent, and everything else paid 25 percent. The exemption, which covered roughly 90 percent of Canadian exports, defined the shape of the fentanyl tariffs for the next year.

When the pause ran out, the 25 percent tariff and the 10 percent energy tariff took effect on March 4. Trudeau said less than 1 percent of fentanyl intercepted at the U.S. border came from Canada and that seizures had fallen 97 percent, and put the first C$30 billion tranche of counter-tariffs in place at 12:01 a.m. the next day, with the remaining C$125 billion to follow in 21 days.

Announced at the White House with President Trump, the expansion took TSMC's planned U.S. investment from US$65 billion to US$165 billion, covering three additional fabs, two advanced packaging facilities and a major R&D team center in Arizona.

Hours after pausing the Mexico tariffs, Trump paused Canada's for 30 days. Trudeau said Canada would appoint a fentanyl czar, list cartels as terrorist organizations and put nearly 10,000 personnel on the border under a C$1.3 billion plan announced in December; Trump called it an initial outcome to see whether a final economic deal could be structured.

Using the International Emergency Economic Powers Act and a declared fentanyl emergency, Trump ordered a 25 percent tariff on Canadian goods with a 10 percent rate for energy, to take effect February 4. Prime Minister Justin Trudeau announced 25 percent counter-tariffs on C$155 billion of American goods: C$30 billion immediately and C$125 billion after 21 days.

Three executive orders signed on February 1, 2025 used the International Emergency Economic Powers Act, a 1977 sanctions statute never before used for tariffs, to impose duties on the three largest U.S. trading partners, citing fentanyl trafficking and migration as a national emergency. The China order took effect February 4; the Canada and Mexico duties were paused for a month and then imposed in March. These trafficking tariffs became one of the two sets of IEEPA duties later struck down.

Three weeks after the election, Trump posted on Truth Social that one of his first-day executive orders would put a 25 percent tariff on all products from Canada and Mexico, to stay in place until the two countries stopped drugs, especially fentanyl, and migrants crossing into the United States. It was the opening move of a trade war with a partner that had a free-trade agreement Trump himself had signed in 2018.