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3197729	无图 <p></p><p>Sarath Ratanavadi.</p><small>gulf development</small><p>This story is part of Forbes’ coverage of Thailand’s Richest 2025. See the full list here.</p><p></p><p>Four years after diversifying into telecoms, energy tycoon Sarath Ratanavadi is reaping the fruits of that strategic move. In April, he concluded the merger between his power producer Gulf Energy Development and Intouch Holdings, the biggest shareholder in Advanced Info Service (AIS), the country’s second-largest mobile phone operator by subscribers, with the listing of the rebranded Gulf Development on the Thai stock exchange. Its market cap of 640 billion baht ($20 billion), makes it Thailand’s fourth most valuable listed company.</p><p></p><p><small>ss</small></p><p>The tycoon’s net worth zoomed 30% to a record $12 billion and he jumped two places to become the country’s third-richest for the first time. Sarath, who founded Gulf in 2007, continues to eye new ventures.</p><p>Last year, the company joined with Google Cloud to build AI-powered cloud facilities in Thailand while its joint venture with Binance, cofounded by Changpeng Zhao, launched a Thai edition of the cryptocurrency exchange. Gulf has also acquired a roughly 5% stake in Kasikornbank, founded by fellow rich lister Banthoon Lamsam’s family. Notably, AIS is part of a consortium that secured approval in June to set up a virtual bank.</p> Energy-And-Telecoms Tycoon Sarath Ratanavadi Leaps Ahead To Become Thailand’s Third-Richest Person	查看 1389	福布斯	2025-01-01 00:00:00 2025-07-05 03:09:41	word
3197728	无图 <p></p><p>Dhanin Chearavanont, senior chairman, CP Group.</p><small>Zhang Ling/Xinhua via Getty Images</small><p>This story is part of Forbes’ coverage of Thailand’s Richest 2025. See the full list here.</p><p></p><p>The Chearavanont brothers’ agribusiness-to-telecoms conglomerate Charoen Pokphand Group (CP Group) has lately been on a digital and regional expansion drive. In June, its fintech arm Ascend Money secured approval to establish a virtual bank, which paves the way for the firm to leverage its digital platform TrueMoney, with its countrywide base of 34 million users.</p><p></p><p><small>ss</small></p><p>A month earlier, True IDC, the data center and cloud services arm of the group’s telecoms giant True, which is led by its chairman Suphachai Chearavanont, teamed up with a BlackRock unit to invest $1 billion over the next three to five years to build data centers in Thailand, an up and coming ASEAN digital hub. After its 2023 merger with rival Total Access Communications, True is now the country’s largest mobile operator with nearly 49 million subscribers.</p><p>With an eye on regional expansion, CP Group will be setting up a $1 billion private equity fund with Philippine sovereign wealth fund Maharlika Investment Corp. to invest in agriculture, digital innovation and renewable energy in the Philippines. Over the past 12 months, the net worth of the Chearavanont brothers has gone up by $6.7 billion to $35.7 billion.</p> Thailand’s Chearavanont Brothers Lead Their CP Group Into A Digital Future	查看 1451	福布斯	2025-01-01 00:00:00 2025-07-05 03:09:41	word
3197727	无图 The chairman and president of DMCI Holdings built his family"s construction business into an infrastructure empire. His $660 million acquisition of a loss-making unit of Mexico"s Cemex will test his skill of saving troubled companies.<p>The 2024 annual report of Philippine construction-and-mining giant DMCI Holdings has an arresting AI-designed cover depicting a stack of grey concrete blocks, geometrically arranged in the form of a futuristic building site. The company says the visual represents its “solid foundation and enduring strength” as well as its “long term vision.” But the image could well be a nod to the new challenge that DMCI chairman and president Isidro Consunji has taken upon himself.</p><p>Last December, the 102-billion-peso ($1.8 billion revenue) company completed its biggest acquisition to date, paying $660 million (including debt) for Mexican giant Cemex’s loss-making cement unit in the Philippines. This deal, which marked Cemex’s exit from the country after more than a quarter of a century, paved the way for DMCI’s entry into a sector that the company had been eyeing for years.</p><p>For Consunji, cement was the missing piece in the company’s portfolio of infrastructure assets, which, apart from the family’s legacy construction business, includes mining, energy, water and property development. The 76-year-old tycoon, who’s notched a respectable track record of reviving ailing businesses, exudes confidence. “We hope to turn it around within two to three years,” he says from DMCI’s headquarters in a modest five-story building on the edge of Makati’s business district.</p><p></p><p>A Concreat cement plant.</p><small>Courtesy of DMCI Holdings</small><p>The Cemex unit is among the top five cement producers in the country with two factories and an annual production capacity of 7.2 million tons. (This was recently expanded from 5.7 million tons.) It’s up against deep-pocketed competitors, such as Holcim Philippines, Eagle Cement, a subsidiary of billionaire Ramon Ang’s San Miguel, and Republic Cement, owned by the wealthy Aboitiz family.</p><p></p><p>Declining sales and rising energy costs pushed it into the red three years ago, a trend that has continued since, including in the first quarter of 2025 when it reported a net loss of 868 million pesos. Consunji says his game plan to make the unit more efficient and eventually profitable includes leveraging synergies with group companies. For example, as part of DMCI, the unit can procure coal and electricity on better terms from group companies and in turn, DMCI’s housing and infrastructure projects will be customers for its cement. Elaborating on his positive outlook, Consunji points to the imminent benefits of scale from the recent capacity upgrade by the company, now renamed Concreat Holdings Philippines—a play on his family name and “create.” The addition of a new production line was started by Cemex but was completed in April this year under DMCI’s watch.</p><p>“The outlook for the cementsectoris not rosy, mainly due to dumping from China and Vietnam.”</p><p>Concreat’s capacity expansion may appear mistimed with the current supply glut in the Philippines. Cheap imports have flooded the market, clobbering cement prices. Domestic factories are operating on average at just over half of their installed capacity, according to the Concrete Manufacturers Association of the Philippines. Some factories have been forced to temporarily shut down. John Gatmaytan, chairman of Manila’s Luna Securities, says, “The outlook for the cement sector is not rosy, mainly due to dumping from China and Vietnam.”</p><p>However, Consunji says he’s looking ahead and positioning Concreat for upcoming opportunities. According to DMCI, the per-capita consumption of cement in the Philippines is 304 kilograms, less than half of that in Vietnam. He expects cement demand to get a boost from the government’s Build Better More program that targets increased outlays on infrastructure projects, such as the 33-kilometer Metro Manila subway estimated to cost 489 billion pesos. Total government spending on infrastructure is projected by the Department of Finance to at least double to 2 trillion pesos by 2028, from 1 trillion pesos this year.</p><p></p><p>“DMCI will be one of the major beneficiaries of the government’s plan to boost infrastructure spending,” says George Ching, senior research manager at COL Financial. The Manila-based brokerage has a buy rating for DMCI and a 12-month share price target of 13.60 pesos, 22% above its June 27 closing price of 11.18 pesos.</p><p>Consunji is also counting on increased cement offtake by property arm DMCI Homes, which along with other developers, is looking to address the country’s housing shortage, notably in provincial areas where demand is still robust compared with Metro Manila. The country will have an estimated housing backlog of 10 million homes by 2028, up from 6.5 million in 2024, according to a forecast by the Department of Human Settlement and Urban Development, the central housing authority.</p><p>For the past two years, DMCI has been buffeted by the cyclical nature of the commodities business. Both revenue and net profit have declined by double digits mainly due to weaker coal, nickel and electricity prices. The company reported a 17% drop in revenue and a 23% fall in net profit for 2024, with both slumping by a similar range in 2023.</p>Mixed BagDMCI"s key mining business shored up 2024 earnings.<p></p><p><small>Source: DMCI Holdings</small></p><p>Consunji has navigated rough terrain before. Through it all, he’s preserved his family’s place among the country’s wealthiest, which his late father and DMCI founder David Consunji had secured in his lifetime.</p><p>Consunji Sr. joined the ranks of the Philippines’ richest in 2007 with a modest fortune of $210 million. Five years later, he became a billionaire, a status he held until his death in 2017. The patriarch’s fortune was divided among his eight children and is now listed under Isidro Consunji, who’s the eldest son and represents the family’s net worth of $3.4 billion, which puts them at No. 5 on the 2024 list of Philippines’ 50 richest. (Neither Consunji nor his siblings are individual billionaires.)</p><p>Consunji admits that as a young man, he had no desire to follow in his father’s footsteps. He enrolled for an economics degree at Ateneo de Manila University, which at the time was an all-boys’ institution. But he soon opted to transfer to civil engineering studies at University of the Philippines, a co-educational college that was his father’s alma mater. What drew him wasn’t the course but the chance to hang out with girls, he says candidly. “I told my father that I had changed my mind. He didn’t ask why. He was happy since that is what he wanted.”</p><p></p><p>During a semester break, Consunji started working in DMCI’s motor pool, overseeing the rentals of trucks and cranes. His job included doing the rounds of the city’s Chinatown district and sundry junkyards to buy spare parts. In 1971, the newly qualified civil engineer was dispatched by his father to Mindanao, an island in the south, to help with reviving a problematic logging business, which took him two years to fix. (Today, the family owns durian orchards in the area through its privately owned Dacon Holdings.)</p><p>To prepare himself for bigger responsibilities, Consunji took a two-year sabbatical for M.B.A. studies at Manila’s Asian Institute of Management, then went back to work with his father. Within three years, he spotted his first acquisition target, a logging company in financial distress. He took management control by acquiring shares against the cost of supplying heavy machinery, enlisting a business school classmate to assist him in turning it around. Backed by his father, he bought two more struggling lumber firms before returning to Manila to help manage the family’s construction business.</p><p></p><p>DMCI"s coal mine on the remote island of Semirara in the central Philippine province of Antique.</p><small>Courtesy of DMCI Holdings</small><p>By 1995, when the family was ready to list holding outfit DMCI Holdings, Consunji had earned his stripes and was promoted to the position of president. Along with his father, he oversaw the sale of a 34% equity stake in an IPO that that raised 3.5 billion pesos. Diversification was one of their top priorities and to fund that they tapped the public markets again two years later with an issue of preference shares that garnered 2.3 billion pesos. The capital raising proved to be well-timed.</p><p>The Asian financial crisis that soon followed provided DMCI an opportunity to acquire distressed businesses. The company bought a 40% stake in cash-strapped coal producer Semirara Mining, named after the remote island in the province of Antique where its mines were located. By 2004, DMCI’s golden jubilee year, Semirara was on a stable footing and DMCI increased its stake to 95%.“It took us all of seven years to turn around the company,” recalls Consunji. “We were learning. It was trial and error.” One major cost-saving move involved switching from the continuous, open-pit coal extraction method that deployed expensive “bucket-wheel” excavators to the more conventional but less environment-friendly system of using trucks and shovels.</p><p></p><p>A commodities boom and exports to China turned Semirara into a cash cow for DMCI; today, the company accounts for 97% of the country’s total domestic production of coal. Last year, despite weaker coal prices that dented earnings, it contributed more than half of DMCI’s net profit of 19 billion pesos.</p>King CoalThe Philippines continues to rely on fossil fuels to meet rising electricity demand, with the use of coal for power generation more than quadrupling since 2000.<p></p><p><small>Source: Philippine Department of Energy</small></p><p>The company was renamed Semirara Mining and Power in 2009 after it acquired an unprofitable coal-fired power plant operation in Calaca, Batangas Province, from the government for $362 million. With a capacity of 600 megawatts (MW), the plant was badly maintained and grossly underutilised, producing only 160MW of power. Consunji undertook an extensive upgradation, costing 9.9 billion pesos over about 15 months, that involved installing new turbines to crank up power production, which now stands at 540MW.</p><p>“The operational side wasn’t that difficult,” Consunji discloses. “It was changing the culture that was challenging. People had no profit-and-loss responsibility when it was government-owned. We had to reorient their thinking: you have to make money for each activity you do, there must be value-added.”</p><p>“Electricity prices would shoot up if we completely transition to renewable energy sources. We still need fossil fuels.”</p><p>Over the years, Semirara’s mining and power operations have faced criticism from the green lobby for their adverse environmental impact. Following the 300MW expansion of the Calaca power complex in 2016, activists protested about the pollution in the area. “We understand the environmental concerns associated with coal,” DMCI says. The company says it planted 2.8 million trees over nearly 700 hectares around the coal mines.</p><p>While acknowledging the government’s efforts to boost renewable energy, Consunji says he doesn’t foresee demand for conventional power reducing anytime soon. “Electricity prices would shoot up if we completely transition to renewable energy sources,” he avers. “We still need fossil fuels.”</p><p>Semirara is now reviving plans to build a 700MW coal-fired plant inside the Calaca power complex, which would be its single biggest power-generating faciilty and cost $1.4 billion. The project was shelved in 2019 in the wake of regulatory changes and delays in the construction of additional capacity by the state-owned transmission company.</p><p>DMCI initiated a 291-billion-pesos five-year plan through 2027 for its coal operations that includes the development of a new mine (adjacent to its operating mine) and boosting coal production to 20 million tons from 16 million tons. Semirara Island’s reserves are estimated to be depleted within 12 to 15 years based on latest studies.</p><p></p><p>Meanwhile, the outlook for DMCI’s property business is somewhat cloudy due to oversupply of urban housing. In Metro Manila, there are as many as 70,000 unsold condos, according to property consultant Colliers Philippines. Consunji is optimistic that DMCI Homes’ inventory of about 2,800 units in the city (as of end-March), will be sold within 18 months, helped by a rent-to-own program to make them more accessible “There are plenty of buyers who can afford the monthly payments but don’t have enough cash for the down payment,” he says.</p><p>DMCI Homes’ seven upcoming residential projects with over 3,000 units are mostly located outside Metro Manila. They include Moriyama Nature Park, a Japanese onsen-inspired project of “resort homes” covering a 40-hectare expanse in Laguna, a province south of Manila known for its hot springs.</p><p></p><p>Consunji at a residential project by DMCI Homes.</p><small>Courtesy of DMCI Holdings</small><p>Betting on sustained demand from makers of batteries for electric vehicles, DMCI is also building a $1.5 billion high-pressure acid leaching nickel processing plant with an annual production capacity of 60,000 metric tonnes. DMCI’s partner in the project is Nickel Asia, owned by the Zamora family. “Hopefully, the glut in nickel supply would have eased by the time the plant is ready in three years,” Consunji says.</p><p>He also foresees increasing profit contributions from Maynilad Water Services, a joint venture with Metro Pacific Investments, backed by Indonesian billionaire Anthoni Salim and Japanese investment giant Marubeni, which supplies water to over 10 million people in western Metro Manila. The utility has been steadily increasing its contribution to DMCI’s bottom line. Maynilad Water’s net profit rose nearly 60% to 3.3 billion pesos in 2024, or about 17% of DMCI’s total net profit, compared with nearly 9% the previous year.</p><p></p><p>Maynilad is now gearing up for an October IPO to raise 38.6 billion pesos to substantially upgrade its facilities. “There are still many things that can be done to improve Maynilad but it’s constrained by red tape in getting local government permits to replace old pipes and install new ones,” according to Consunji.</p><p>More than a decade ago, Consunji stepped back from day-to-day management, handing over operational charge to various family members and professional executives. His cousin Herbert, DMCI’s chief financial officer, now has dual responsibility as Concreat’s president and CEO. Consunji’s sister Cristina has been running Semirara since 2019 as president and CEO, while his brother Jorge runs the construction side overseeing bids for government infrastructure contracts. Two other sisters, Edwina Laperal and Luz Consuelo Consunji are executive directors.</p><p>The third generation has also entered the scene. Consunji’s nephew Tulsidas Reyes is president of DMCI Mining while Alexander Gotianun (the son of Cristina and Jonathan Gotianun, a scion of the family behind Filinvest Development) is in charge of special projects at Concreat. Consunji’s son Victor, who’s also a civil engineer, is developing his own boutique housing projects outside DMCI.</p><p>So far, Consunji says there’s been no formal discussion about succession and he’s agnostic about whether the next chairman is a family member or a professional. Consunji tries to draw on lessons he gleaned from his father, who he says wasn’t dictatorial and encouraged people to collaborate. His dictum: “No one among us is as good as all of us.”</p><p></p><p></p><p>David Consunji</p><small>COURTESY OF DMCI HOLDINGS</small>Construction Pioneer<p>Born in a family of farmers, David Consunji (d. 2017) started out as a concrete inspector during the post-war rebuilding effort in the Philippines. He had studied civil engineering at the University of the Philippines and his fascination with construction later propelled him to become an independent contractor. He set up D.M. Consunji in 1954 with a second-hand cement mixer, a pickup truck and a few foremen.</p><p>At first, he undertook small construction jobs for friends then secured bigger contracts. The firm went on to build some of the country’s most notable structures, from the Cultural Center of the Philippines overlooking Manila Bay to the Shrine of Valor (with a 95-meter-tall cross) in Bataan Province. D.M. Consunji was also involved in the construction of the Sultan of Brunei’s palace, with close to 1,800 rooms and a banquet hall big enough to seat 5,000 people.</p><p>After six decades as chairman, he ceded the position to his son Isidro in 2014, though he retained his links to DMCI as chairman emeritus. He was posthumously named grandfather of the country’s construction industry by the Construction Industry Authority of the Philippines, a government agency. —I.S. and J.B.</p>MORE FROM FORBESForbesPhilippine Developers Turn Cautiously Optimistic Amid Metro Manila Condominium Supply Glut<small>By Ian Sayson</small>ForbesConsunji Family’s Semirara Plans $5 Billion Coal Mine Expansion<small>By Ian Sayson</small>ForbesBillionaire Consunji Family To Inject $177 Million Into Philippines’ DMCI<small>By Ian Sayson</small> Philippine Construction-To-Mining Tycoon Isidro Consunji Takes On Concrete Challenge	查看 17472	福布斯	2025-01-01 00:00:00 2025-07-05 03:09:41	word
3197726	无图 <p>Topline<p>The House passed the Senate’s version of President Donald Trump’s sweeping domestic policy bill Thursday, sending it to Trump to sign, as the bill proposes a major overhaul of student loan programs and repayment plans that restricts how much students can borrow and the payment plans they use to pay the loans back.</p><p></p><fbs-accordion><p>Speaker of the House Mike Johnson, R-La., and other Republican House members applaud the passage of ... More President Donald Trump"s spending bill at the Capitol in Washington on Thursday, July 3;</p></fbs-accordion><small>Copyright 2025 The Associated Press. All rights reserved</small></p>Key Facts<p><p>The House passed the bill Thursday in a 218-214 vote, giving the bill its final stamp of approval before it goes to Trump’s desk after the Senate passed it earlier this week.</p><p>The bill imposes significant changes to the federal student loan program, including new caps on student loans and restricting new borrowers to only two options for paying off their loans, either through a standard repayment plan (paying the same amount every month) or a new plan based on annual income.</p><p>The final version of the bill toned down some controversial proposals that were present when the House initially passed it, however, including calculating how much a student can get in loans based on the median cost of their similar program of study across all schools—rather than how much their tuition actually costs—and more stringent caps on how much students and their parents can borrow.</p><p>The Senate Parliamentarian also forced lawmakers to make changes to the bill before it passed, ruling last week some aspects of the student loan proposals should be struck from the bill because they don’t meet the criteria for the Senate to pass the bill through reconciliation—a process that allows the chamber to approve some budget-related measures with only a simple majority rather than 60 votes.</p><p>One part of the bill struck down by the Parliamentarian would have forced borrowers who are already paying off loans to switch to the new repayment plans, while another would have barred non-citizens from receiving student aid.</p><p>Student borrower advocates have harshly decried the legislation, with the Student Borrower Protection Center (SBPC) projecting based on an earlier version of the bill that it would force a typical borrower with a bachelor’s degree to pay $3,000 more per year.</p></p>Trump’s Bill Imposes New Maximum Borrowing Limits<p>The bill changes existing caps on federal student loans, but the final version tones down more extreme limits that had been proposed in the initial version passed by the House. The bill limits parents to borrowing $20,000 per year for each child, with a $65,000 total cap per student. It also limits graduate students to $20,500 per year in loans and $100,000 in total, while students in professional schools, like medical school, are limited to $50,000 in loans per year and $200,000 in total. The Senate slightly raised the overall lifetime cap on student loans from the original House version, now capping all federal student loans that a borrower receives—excluding Parent PLUS loans—at $257,500. Those limits will all take effect on July 1, 2026, but students who are already borrowing money will be allowed to use the old rules until they finish their program of study.</p>The Plan Cuts Some Loan Eligibility<p>The final bill gets rid of the Graduate PLUS loan program, eliminating the loans past July 1, 2026. Senators watered down restrictions from the original House bill, however, getting rid of language that would have limited when parents could take out loans and eliminated subsidized loans for undergrads. The Senate also tried to keep the restrictions on non-citizens receiving student aid, but the Senate Parliamentarian said lawmakers could not impose those restrictions.</p>Trump’s Policy Bill Gets Rid Of Most Student Loan Payment Plans <p>The final bill abolishes most of the current options borrowers have to repay their student loans, instead giving borrowers the choice of only a standard repayment plan or a new Repayment Assistance Plan (RAP) based on annual income. The standard repayment plan means borrowers will pay back their loan at a fixed rate each month. Loans of up to $25,000 will be paid over the course of 10 years, loans of up to $50,000 will be paid over 15 years, loans of up to $100,000 will be paid over 20 years and loans over that amount will be spread out over 25 years. RAP replaces existing income-driven repayment plans, but still allows borrowers to make their monthly payments based on income. Borrowers pay rates based on their annual income (including their spouse’s income), which ranges from $120 per year for those making less than $10,000 (divided up into $10 monthly payments) to 10% of gross annual income for those making over $100,000. Unlike previous income-based plans, RAP allows borrowers’ remaining loans to be forgiven after 30 years of making payments—up from 20 or 25 years under current plans—and has a minimum payment of $10 each month, while low-income borrowers have been able to qualify for $0 repayments.</p><p></p>Who Will The Changes To Student Loan Payments Affect? <p>While the initial House and Senate versions of the bill would have forced all existing borrowers paying off loans to switch to the new repayment plans, the Senate Parliamentarian struck that down, ruling senators cannot pass it with only a simple majority. The final bill restricts anyone who takes out loans after July 1, 2026, to only repay them through the new standard repayment plan or RAP, but keeps existing income-based repayment plans in place for those who are already paying off loans.</p>Trump’s Policy Bill Adds Restrictions For Pell Grants<p>The final bill got rid of previous restrictions the House originally proposed on Pell Grants for part-time students, but disqualifies students from Pell Grants if their student aid index—a number demonstrating a student’s financial need, based on their families’ financial resources and expenses—is at least twice the maximum Pell Grant given that year. The bill also establishes a new Pell Grant program for short-term workforce training programs, and says borrowers aren’t eligible for Pell Grants during any term where they’re already receiving other student aid (whether federal, state, from the institution or from private sources) that covers their full cost of attendance.</p>Trump’s Bill Changes Forbearance And Deferring Payments On Student Loans <p>Trump’s policy bill gets rid of rules that allow borrowers to temporarily have their loan payments deferred due to unemployment or economic hardship, which will apply to borrowers who take out loans starting in July 2025. The bill also places new limits on forbearance—a temporary pause on loan payments—which states loans can’t be in forbearance for more than nine months during any 24-month period. The legislation does help borrowers by allowing them to now rehabilitate their loans twice, rather than once. That refers to when borrowers can get out of being in default on their loans by making a certain number of on-time payments under a rehabilitation agreement.</p>Potential Impacts Of The Trump Policy Bill<p>The new restrictions on federal student loans could force more students and parents to turn to private lenders, which account for less than 10% of all student loans issued. Private loans have many disadvantages compared with federal ones, as they typically have higher interest rates, are not eligible for income-based repayment plans and don’t offer forgiveness programs. When it comes to paying off loans, SBPC projects RAP will broadly increase borrowers’ payments compared with previous Biden-era income-based payment plans designed to help borrowers make lower payments. The average borrower with a college degree will pay $2,928 more per year than under the Biden-era SAVE plan, SBPC estimates, and the bill also means borrowers will spend longer paying off their loans than they would under current rules.</p>Big Number<p>42.5 million. That’s the number of borrowers with outstanding federal student loan debt as of the second quarter of 2025, according to the Department of Education. </p>Key Background<p>Student loan debt has become a key political issue over the past few years, as Democrats have fought for loan forgiveness and the Biden administration sought to provide sweeping debt relief, only to have Republicans challenge it in court and the Supreme Court strike it down. While the Biden administration still made numerous piecemeal moves to forgive Americans’ debt, the Trump administration has not followed suit, with Education Secretary Linda McMahon saying in April that “American taxpayers will no longer be forced to serve as collateral for irresponsible student loan policies.” Trump has ordered the student loan portfolio to move under the Small Business Administration as he seeks to abolish the Department of Education, and he has also sought to restrict loan forgiveness for public servants so that it excludes employees working at organizations opposed to his policy agenda. Most notably, the Trump administration resumed debt collections May 5 for borrowers who have defaulted on their student loans, after collections had been on pause since the COVID-19 pandemic. The move is expected to impact millions of borrowers who haven’t paid their loans for approximately nine months, and the Trump administration intends to garnish a portion of workers’ wages if their loans remain unpaid.</p>Further ReadingForbesHouse Passes Trump’s Signature Spending Bill, Meeting July 4 Deadline<small>By Zachary Folk</small>ForbesTrump’s Presidency And Student Loans: What Move To Small Business Administration Means For Borrowers<small>By Alison Durkee</small>ForbesTrump Resumes Defaulted Student Loan Collections Today—Impacting Millions Of Borrowers. Here’s What To Know.<small>By Alison Durkee</small>ForbesGOP Will Extend Student Loan Forgiveness Tax Relief, But Only Narrowly<small>By Adam S. Minsky</small>ForbesCongress Takes Huge Step To Repeal 6 Student Loan Repayment Plans And Force Many Borrowers To Pay More<small>By Adam S. Minsky</small> Student Loans And Trump's Megabill: What To Know After House Passes Bill	查看 10265	福布斯	2025-01-01 00:00:00 2025-07-05 03:09:41	word
3197725	无图 <p>Topline<p>Trump advisor Stephen Miller has made headlines for spearheading many of the administration’s most controversial policies, but his influence was also felt nearby at the Supreme Court during its most recent term, as the legal group he founded played a role in some of the court’s biggest cases—underscoring how Miller has been able to shape right-wing politics beyond the executive branch. </p><p></p><fbs-accordion><p>White House Deputy Chief of Staff Stephen Miller speaks to the media outside the White House on May ... More 30.</p></fbs-accordion><small>Getty Images</small></p>Key Facts<p><p>Miller—a top Trump official overseeing the government’s immigration agenda—founded America First Legal, a right-wing legal group that has likened itself to a conservative version of the American Civil Liberties Union, bringing dozens of lawsuits since 2021 that advance right-wing interests.</p><p>The group represented parties in one major case at the Supreme Court this term, Affordable Care Act dispute Kennedy v. Braidwood Management, and filed amicus briefs urging the court to take a particular position in five other argued cases.</p><p>America First Legal and the White House confirmed to Forbes that Miller has not worked with the organization since joining the Trump administration in January.</p><p>The Supreme Court cases reflect Miller’s time at America First Legal, however: the organization had already filed at least one brief in a majority of its cases before the Supreme Court prior to Inauguration Day, and filings in two other cases came shortly afterwards in February.</p><p>The group’s president, Gene Hamilton, also previously served in the Trump administration as Deputy White House Counsel to President Donald Trump, though he left the White House to return to America First Legal in June.</p><p>The Supreme Court largely sided with America First Legal in cases where it filed amicus briefs, but dealt a blow to the organization in the one case where it was a party, ruling against client Braidwood Management’s effort to invalidate the task force deciding which preventive services are covered by insurance.</p></p>How Did The Supreme Court Rule On America First Legal’s Cases?<p>Despite its loss in the Braidwood case, America First Legal was on the winning side of four cases it filed briefs in this term. The Supreme Court agreed with the group’s arguments that the court should uphold state bans on gender-affirming care for minors, allow parents to opt their children out of being exposed to LGBTQ books in schools, rule in favor of a woman who argued she was discriminated against for being straight, and revive a lawsuit against the Palestine Liberation Organization. The fifth case the group weighed in on did not go in its favor, as the court rejected arguments that it should strike down the Federal Communications Commission’s universal service obligation to provide telecom services to underserved communities.</p>Who Is Stephen Miller?<p>Miller is one of Trump’s longest-serving advisors, initially joining his team during the 2016 presidential campaign and remaining at the White House throughout Trump’s first term. After founding America First Legal during Joe Biden’s presidency, Miller rejoined Trump as he returned to the White House, becoming the president’s deputy chief of staff of policy. He’s garnered the most attention and controversy for being a key architect of Trump’s harsh immigration policy and mass deportations, with the advisor reportedly recently pushing immigration officials to meet a quota of at least 3,000 arrests per day. But Miller’s influence over the White House and Trump’s agenda is more wide-reaching, Bloomberg reports, with the advisor also overseeing issues like the Trump administration’s attacks on top universities. “He’s probably as influential as any single person in the White House,” former House speaker Newt Gingrich told Bloomberg about Miller.</p>What Have America First Legal And Stephen Miller Said?<p>America First Legal has praised the Supreme Court’s rulings in cases that went its way this term, framing the court as siding with the organization after it filed briefs in each case. It touted one instance in which Justice Clarence Thomas noted the group’s brief in his opinion concurring with the court’s majority, claiming it reflected “the unmistakable impact of America First Legal’s ability to provide solid footing for the courts to uphold the rule of law for all Americans,” America First Legal Vice President Daniel Epstein said in a statement about the court’s ruling in Ames v. Ohio Department of Youth Services. In that case, a woman claimed she was discriminated against for being straight. Miller has not commented on the court’s rulings through America First Legal since joining the White House, though the Trump advisor has spoken out on social media and in media appearances in favor of several major decisions this term, such as the Supreme Court’s ruling on transgender healthcare and the court’s decision that restricted lower judges’ ability to block Trump administration policies nationwide. “With today’s action, the Supreme Court has said President Trump can fully deliver on the mandate the American people gave him in November,” Miller told Fox News about the court’s ruling on nationwide injunctions, which America First Legal did not participate in.</p><p></p>Who’s Bankrolling America First Legal?<p>Tax filings show America First Legal has received sizable donations from a number of known groups that contribute to conservative causes since its founding in 2021, including the Bradley Impact Fund and Conservative Partnership Institute, where Trump’s former White House Chief of Staff Mark Meadows holds a leadership role. The organization has also received more than $3 million from DonorsTrust, a donor-advised fund linked to conservative judicial activist Leonard Leo, whose groups have played a key role in right-wing lawsuits and judicial appointees. America First Legal received $1.5 million in 2023 from a foundation linked to Mike Rydin, a former construction software entrepreneur who’s become a major conservative donor, helping Meadows’ Conservative Partnership Institute expand its operations and buy real estate around Capitol Hill. Rydin is still helping to bankroll America First Legal, as the group is now advertising the donor will match up to $2 million in donations through the end of July. Tax filings have not yet been released showing how much America First made in 2024 or so far in 2025, but its most recent filings also indicate the organization had a need to bolster its donations: It ended 2023 with a deficit of $661,379, after taking in $9.4 million in donations but spending $10.3 million. Miller appears to have still benefited handsomely from his involvement with America First Legal, however, reporting $508,659 in income from the group on his White House financial disclosure.</p>Surprising Fact<p>America First Legal lost to the Trump administration at the Supreme Court in the Kennedy v. Braidwood Management case. The administration took over the lawsuit and kept the Biden administration’s position that the Preventive Services Task Force should stay in place. </p>Further ReadingForbesSupreme Court Keeps Healthcare Coverage For Preventive Services—At Least For Now<small>By Alison Durkee</small>ForbesHow Project 2025 Groups Influenced The Supreme Court This Year<small>By Alison Durkee</small>ForbesSupreme Court Upholds Ban On Gender-Affirming Care For Minors<small>By Alison Durkee</small>ForbesSupreme Court Lets Parents Opt Kids Out Of LGBTQ Books In Schools<small>By Alison Durkee</small> How Stephen Miller’s America First Legal Group Influenced The Supreme Court	查看 7666	福布斯	2025-01-01 00:00:00 2025-07-05 03:09:41	word
3197724	有图 <p>Topline<p>New Jersey granted temporary liquor permits to two of President Donald Trump’s golf clubs Monday—but is requiring alcohol profits be held in separate accounts and barring their payout to Trump’s companies—as the state’s investigation into whether his convictions disqualify the businesses from pouring enters its second year. </p><p></p><fbs-accordion><p>President Donald Trump sips a glass after making a toast at the United Nations during the 72nd ... More session of the General Assembly in 2017. (AFP PHOTO / Brendan Smialowski)</p></fbs-accordion><small>AFP via Getty Images</small></p>Key Facts<p><p>A Manhattan jury found Trump guilty in May 2024 on 34 felony counts of falsifying business records tied to hush-money payments during the 2016 campaign, crimes each punishable by up to four years in prison and a $5,000 fine.</p><p>New Jersey law bars anyone convicted of crimes “involving moral turpitude”—including “dishonesty, fraud or depravity” severe enough to typically be punishable by more than a year in prison—from holding a liquor license, according to a state handbook, first reported by Forbes in June 2024.</p><p>After Trump’s conviction, New Jersey’s Division of Alcoholic Beverage Control (ABC) declined to renew the liquor licenses at his Bedminster and Colts Neck clubs, instead issuing a series of temporary permits—first for 90 days pending a hearing, then extended.</p><p>On Monday, with the latest temporary licenses set to expire, the ABC issued six-month permits, letting the clubs continue to serve alcohol but requiring liquor proceeds be kept in separate accounts, banning their payout to Trump’s companies and demanding extra records on the clubs’ ownership, according to copies of the permits obtained by Forbes.</p><p>Losing the liquor licenses would be one of the few direct penalties Trump could face from his felony conviction.</p><p>“We are pleased with this latest extension of our licenses and look forward to working cooperatively with the ABC to ensure that our valued members and guests continue to enjoy the finest services and amenities at our world-renowned clubs,” a spokesperson for the Trump Organization told Forbes in a statement.</p></p>Contra<p>The Trump Organization contends Trump’s conviction shouldn’t matter because he isn’t listed as a holder, officer or director on any New Jersey liquor license, according to a statement provided after Forbes’ initial report.</p>Key Background<p>New Jersey regulators determined in 2024 that Trump holds a “direct beneficial interest” in the clubs’ liquor licenses, because he receives profits from them, countering his argument that the conviction shouldn’t matter. Court records and Trump’s financial disclosures show he is the sole owner of the clubs through a series of LLCs held by a revocable trust, of which he is also the sole beneficiary and sole provider of assets. The Trump Organization confirmed in an April regulatory filing in the United Kingdom that, as president, Trump retains control over his businesses. Other states, however, reached different conclusions: A spokesperson for California’s alcohol regulator, for example, previously told Forbes because Trump transferred the license for his Los Angeles-area club to Donald Trump Jr. in 2017, he is no longer part of the license—even though he remains the sole beneficiary of the underlying business. </p>Why Hasn’t New Jersey Made A Final Decision?<p>The ABC does not appear to have publicly explained why it’s taken more than a year to decide if Trump’s felony convictions should cost his clubs their liquor licenses.</p>Crucial Quote<p>“Profiting from a liquor license is a privilege, not a right granted by law,” Allison Inserro, a spokesperson for the New Jersey attorney general, told Forbes. She added the special conditions were “consistent with the division’s obligation to ensure that all liquor licensees comply with the law.”</p><p></p>Big Number<p>$49.2 million: That’s the income Trump reported from his Bedminster and Colts Neck golf clubs in his June 2025 financial disclosure, which appears to cover all of 2024.</p>News Peg<p>Trump’s conviction in May 2024 made him the first former U.S. president to become a felon.</p>Surprising Fact<p>Golf markers featuring the presidential seal have appeared at five Trump courses, including Bedminster, a potential violation of federal law barring its use for commercial purposes.</p>Tangent<p>Trump’s Bedminster club received a 32 out of 100 health inspection score in May, the lowest grade in Somerset County, and was issued a “conditionally satisfactory” C grade after it was flagged for 18 violations, including all three requirements in the “food protected from contamination” category. On a subsequent reinspection, the club earned a B grade with a score of 86—the lowest score possible to still receive that grade. </p>Forbes Valuation<p>Forbes estimates Donald Trump is worth about $5.3 billion, with crypto making up the bulk of his wealth.</p>Further Viewing<p><fbs-embedly iframe-src="https://embedly.forbes.com/widgets/media.html?src=https%3A%2F%2Fwww.youtube.com%2Fembed%2FaXwJkTW9QH4%3Ffeature%3Doembed&display_name=YouTube&url=https%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DaXwJkTW9QH4&image=https%3A%2F%2Fi.ytimg.com%2Fvi%2FaXwJkTW9QH4%2Fhqdefault.jpg&type=text%2Fhtml&schema=youtube"></fbs-embedly></p>Further Reading<p>After Years Of Lying, Trump Organization Tries To Figure Out How Big Its Properties Actually Are (Forbes)</p><p>Trump’s Properties Charged Defense Department $1 Million, New Documents Reveal (Forbes)</p><p>How Trump Built A Golf Empire With Secret Financing (Forbes)</p><p>Here’s How Much Trump Received For Hosting Saudi-Backed Golf Tournament (Forbes)</p><p>How Donald Trump Shifted Kids-Cancer Charity Money Into His Business (Forbes)</p> Trump Temporarily Keeps NJ Liquor Licenses—But Faces Special Rules	查看 5832	福布斯	2025-01-01 00:00:00 2025-07-05 03:09:41	word
3197723	无图 <p>Topline<p>The northern lights could appear across 10 states Thursday night, according to the National Oceanic and Atmospheric Administration, the second time this week sky gazers will have a chance at seeing the natural phenomenon.</p><p></p><fbs-accordion><p>Northern lights appearance in Oregon. (Photo by Mathieu Lewis-Rolland/Getty Images)</p></fbs-accordion><small>Getty Images</small></p>Key Facts<p><p>A Kp index of four has been issued by NOAA for Thursday night, meaning the aurora borealis “can be quite pleasing to look at” for those in the right areas with good viewing conditions.</p><p>The forecasted viewing line stretches as low as central South Dakota and southern Minnesota, with chances of seeing the northern lights rising the farther north viewers are from the line.</p><p>Auroral activity is forecast to significantly taper off Friday night, so northern lights viewers should make an effort to see aurora borealis Thursday for a better chance to see them.</p></p><p>Get Forbes Breaking News Text Alerts: We’re launching text message alerts so you"ll always know the biggest stories shaping the day’s headlines. Text “Alerts” to (201) 335-0739 or sign up here.</p>Where Will The Northern Lights Be Visible?<p>States and areas within or north of the viewing line include Alaska, northern Washington, northern Idaho, Montana, North Dakota, northern South Dakota, Minnesota, northern Wisconsin, northern Michigan and northern Maine.</p><p></p><fbs-accordion><p>Thursday"s viewing line.</p></fbs-accordion><small>NOAA</small><p></p>What’s The Best Way To See The Northern Lights?<p>Observers should head outside between the hours of 10 p.m. and 2 a.m., the time range that typically provides the best chance for seeing the northern lights. Vantage points and areas with clear skies and little to no light pollution will also help improve chances.</p>What’s The Best Way To Photograph The Northern Lights?<p>Smartphone users should use their mobile devices’ night mode feature and not use flash if possible, while observers with traditional cameras should use low apertures, wide-angle lenses and tripods for image stability. </p>Key Background<p>This year has been an active time for the northern lights, which had an extremely active 2024 as the sun reached the maximum phase in its 11-year cycle. The phase marks an increase in solar flares and coronal mass ejections that contribute to increased auroral activity, which lead to northern lights showings. NASA and NOAA forecasts predict active northern lights showings will last into 2026, when solar activity will eventually slow and lead to weaker auroral activity.</p>Further Reading<p>Northern Lights Displays Hit A 500-Year Peak In 2024—Here’s Where You Could Catch Aurora Borealis In 2025 (Forbes)</p> Northern Lights: These 10 States Could See Aurora Borealis Tonight	查看 2779	福布斯	2025-01-01 00:00:00 2025-07-05 03:09:41	word
3197722	无图 <p>Topline<p>President Donald Trump said Thursday he made no progress in a lengthy phone call with Russian President Vladimir Putin concerning the Russia-Ukraine war, which wages on after more than three years of fighting.</p><p></p><fbs-accordion><p>US President Donald Trump speaks to reporters at Joint Base Andrews in Maryland. </p></fbs-accordion><small>Photo by ANDREW CABALLERO-REYNOLDS/AFP via Getty Images</small></p>Key Facts<p><p>Trump said he talked with Putin about the war, adding, “I’m not happy about that” before telling reporters he made no progress with Putin, presumably on a peacemaking deal that could suspend or end the war.</p><p>Trump, who campaigned on ending the war between Russia and Ukraine, has become less involved in dealmaking between the two countries since February, when he and Ukrainian President Volodymyr Zelenskyy engaged in an Oval Office shouting match.</p><p>The U.S. was one of Ukraine’s most ardent supporters following Russia’s invasion in 2022 and has since distanced itself from the country under the Trump administration, which recently paused weapons shipments to Ukraine and cited concerns of decreasing U.S. stockpiles.</p><p>Trump noted he and Putin discussed Iran, which had multiple nuclear facilities bombed by Israel and the U.S. last month after Russia warned against escalation in the Middle East.</p></p><p>Get Forbes Breaking News Text Alerts: We’re launching text message alerts so you"ll always know the biggest stories shaping the day’s headlines. Text “Alerts” to (201) 335-0739 or sign up here.</p>Big Number<p>$66.9 billion. That is how much money in military assistance the U.S. provided Ukraine from Russia’s 2022 invasion to March 2025, according to the State Department.</p>What To Watch For<p>Russia appears unlikely to end its invasion of Ukraine unless Ukraine surrenders or the U.S. is able to establish a peace deal between the two countries that gives significant concessions to Russia. Vice President JD Vance told reporters the Russia-Ukraine war was “not going to end anytime soon” after the U.S. and Ukraine signed a minerals deal designed to provide compensation for the financial support the U.S. has provided.</p><p></p>Key Background<p>Trump and Zelenskyy’s relationship soured earlier this year after the two traded critical remarks in February, bringing relations between the U.S. and Ukraine to their lowest point in years. Trump falsely claimed Ukraine started the war with Russia and received backlash from Zelenskyy, who said the president was living in a Russian-made “disinformation space.” Trump then accused Zelenskyy of being a dictator and being uninterested in putting an end to the war. Trump and Zelenskyy had an Oval Office meeting alongside Vance and members of Trump’s Cabinet a little over a week later, with the two ending peace talks early following the combative discussion. Zelenskyy scrutinized Trump’s increasing communication with Putin, saying the Russian president has been an unreliable diplomat after citing failed deals with Putin. Trump said Zelenskyy disrespected the U.S. in the meeting and suggested the U.S. could fully withdraw support from Ukraine’s defense efforts.</p>Further Reading<p>Trump-Zelenskyy Talks End Early After Trump Threatens Him In Tense Live Meeting: ‘Make A Deal Or We’re Out’ (Forbes)</p><p>Trump-Zelensky Feud: Trump Calls Zelensky A ‘Dictator’—After Ukraine’s President Criticizes Him Amid Russia Talks (Forbes)</p> Trump-Putin Call: President Says No Progress Made With Putin On Ukraine-Russia War	查看 3469	福布斯	2025-01-01 00:00:00 2025-07-05 03:09:41	word
3197721	无图 <p>Topline<p>President Donald Trump on Thursday said he plans to host a UFC mixed martial arts event at the White House grounds and multiple other special events across the country next year—including an athletic competition called the ‘Patriot Games’—as part of a celebration marking 250 years of American independence. </p><p></p><fbs-accordion><p>President Donald Trump has been seen at multiple UFC events in the recent years, the the promotion"s ... More president Dana White has been among his most prominent supporters.</p></fbs-accordion><small>POOL/AFP via Getty Images</small></p>Key Facts<p><p>Speaking to supporters at a rally in Iowa on Thursday evening, Trump said he plans to host “some incredible events” across the country next year to mark the 250th anniversary of its independence.</p><p>“We’re going to have a UFC fight. We’re going to have a UFC fight — think of this — on the grounds of the White House,” the president told his supporters, adding: “We have a lot of land there.”</p><p>Trump said UFC President Dana White will build the setup for the event and added it"s going to be a “championship fight, full fight, like 20,000 to 25,000 people, and we’re going to do that as part of ‘250’ also.”</p><p>White reshared a video of the president’s announcement on Instagram and wrote, “This will be EPIC,” while the official UFC page asked followers, “Who would you like to see headline the event?”</p></p>What Do We Know About Trump’s Ties With The Ufc?<p>Trump has been a regular attendee at UFC fighting events in recent years. Most recently, the president attended the UFC 316 event last month, held at the Prudential Center in Newark, New Jersey. Trump was also in attendance at UFC 314, which took place in April at Miami’s Kaseya Center, alongside Elon Musk and several cabinet members. White has been a long-time supporter of Trump and has spoken at several of his rallies and events. During his announcement on Thursday, Trump praised the UFC President and said, “Dana is great, one of a kind.”</p>What Other Events Are Being Planned For The 250th Anniversary Celebration?<p>In addition to the UFC event, the president said he plans to host a youth athlete competition called the “Patriot Games” as part of the “America 250” celebration. The event will feature “top high school athletes from all 50 states” will be “nationally televised.” The Patriot Games will be helmed by Health and Human Services Secretary Robert F. Kennedy Jr. Trump also announced the launch of the “year-long Great American State Fair,” which the White House said will “begin in Iowa and travel to state fairs across the country” before culminating with a “festival at the National Mall” next year.</p>Further Reading<p>Populist Capitalist: How The UFC’s Dana White Epitomizes Business In The Trump Era (Forbes)</p><p></p> Trump Plans To Host A UFC Event On White House Grounds Next Year	查看 2826	福布斯	2025-01-01 00:00:00 2025-07-05 03:09:41	word
3197720	有图 <p>Topline<p>An overwhelming majority of Americans are worried about inflation as concerns about tariffs stalled progress in bringing price increases down to a more palatable level – and the starkest impact of tariffs has likely yet to show up meaningfully in data. </p><p></p><fbs-accordion><p>Tariffs have not yet meaningfully affected broader inflation data, but the levies will soon cause ... More inflation to shoot back up to the highest level since 2023, according to Goldman Sachs economists.</p></fbs-accordion><small>AFP via Getty Images</small></p>Key Facts<p><p>Some 87% of Americans are somewhat or very concerned about rising inflation, according to a Reuters/Ipsos survey of 4,306 adults conducted in late April, shortly after Trump paused his most aggressive “Liberation Day” country-by-country tariffs.</p><p>Just 32% of Americans approve of Trump’s handling of inflation, according to the Reuters/Ipsos poll, compared to 56% who disapprove.</p><p>Respondents were divided heavily along party lines, as just 4% of Democrats approve of Trump on inflation compared to 25% of independents and 71% of Republicans.</p><p>Other polling also indicates sustained concerns about inflation.</p><p>An annual April survey from Gallup revealed inflation was Americans’ top financial concern for the fourth year in a row – and the University of Michigan’s inflation expectation survey peaked at a 44-year high this spring.</p></p>Contra<p>Inflation data was largely benign during 2025’s first half despite the angst propelled by economist warnings of significantly higher prices as import taxes increased more than 700%. The most commonly cited measure of inflation, the Bureau of Labor Statistics’ consumer price index, cooled to a four-year low of 2.3% by April, rising slightly to 2.4% in May, the last month for which data is available. The Federal Reserve’s pet measure of inflation, the core personal consumption expenditures (PCE) index, dipped from 2.9% in December to 2.7% in May, though it still remains above the Fed’s long-held 2% goal. </p>What To Watch For<p>Trump has misleadingly and repeatedly celebrated this steady decline in annual price increases as proof of “NO INFLATION,” but experts believe the impact of tariffs will soon materialize. Goldman Sachs economists predict core PCE inflation will shoot up more than half a percentage point to 3.4% by December, the highest rate since 2023. </p><p><fbs-embedly iframe-src="https://embedly.forbes.com/widgets/media.html?src=https%3A%2F%2Fdatawrapper.dwcdn.net%2FPlYPB%2F1%2F&display_name=Datawrapper&url=https%3A%2F%2Fdatawrapper.dwcdn.net%2FPlYPB%2F1%2F&image=https%3A%2F%2Fdatawrapper.dwcdn.net%2FPlYPB%2Fplain-s.png%3Fv%3D1&type=text%2Fhtml&schema=dwcdn"></fbs-embedly></p><p></p>Big Number<p>4.25% to 4.5%. That’s where the Fed-determined interest rates have stood all of 2025, higher than they were from 2008 to 2022, bookending the Great Recession and the post COVID-19 inflation surge. The central bank’s refusal to bend to Trump’s demands to take the growth-friendly move of dramatically lowering rates, instead urging caution on the impact of tariffs on inflation, has made the Fed and its top official Jerome Powell primary enemies of Trump during his second term.</p> Almost 90% Of Americans Are Concerned About Inflation	查看 3271	福布斯	2025-01-01 00:00:00 2025-07-05 03:09:41	word
3197719	无图 <p>Topline<p>“A Minecraft Movie” has led this year’s domestic box office to a total of $4.1 billion in U.S. ticket sales for the first six months of 2025, a marked improvement from last year—though the biggest global film success was the Chinese blockbuster “Ne Zha 2,” which earned a staggering $1.9 billion on its own.</p><p></p><fbs-accordion><p>Audiences line up for "Ne Zha 2," which became a smash hit in China. (Photo by Ma Ping/Xinhua via ... More Getty Images)</p></fbs-accordion><small>Xinhua News Agency via Getty Images</small></p>Key Facts<p><p>There’s just over $4.1 billion in total gross at North American theaters between January 1 and June 29, according to data shared with Forbes by Comscore.</p><p>The box office total for 2025 so far is 15.5% higher than the $3.5 billion grossed at this point last year, according to Comscore data, thanks largely to a strong spring moviegoing season (April and May 2025 grossed 90% more than April and May 2024).</p><p>The ever-growing “Hunger Games” franchise propelled Suzanne Collins’ “Sunrise on the Reaping,” released in March, to the top of this year’s best-selling fiction books lists, according to data shared with Forbes by Circana BookScan.</p><p>This year’s best-selling nonfiction book so far, according to Circana, is John Green’s “Everything Is Tuberculosis,” the second nonfiction work by Green, known for novels like “The Fault in Our Stars.”</p><p>Of all the songs released in 2025 to hit No. 1 on the Billboard Hot 100 this year so far, Sabrina Carpenter’s “Manchild” appears to be the biggest, boasting more than 126 million Spotify streams.</p></p>Top Fiction Book Sales Of 2025<p>(From Jan. 1 - June 26, according to Circana BookScan)</p>“Sunrise on the Reaping (A Hunger Games Novel)” by Suzanne Collins: 1,667,012 books sold“Onyx Storm (Deluxe Limited Edition)” by Rebecca Yarros: 1,614,239 books sold“The Crash” by Frieda McFadden: 410,225 books sold“Great Big Beautiful Life” by Emily Henry: 335,020 books sold“Fearless” by Lauren Roberts: 320,759 books soldTop Nonfiction Book Sales<p>(From From Jan. 1 - June 26, according to Circana BookScan)</p>“Everything Is Tuberculosis: the History and Persistence of Our Deadliest Infection” by John Green: 162,621 units sold“The Next Conversation: Argue Less, Talk More” by Jefferson Fisher: 137,003 units sold“Abundance” by Ezra Klein: 135,558 units sold“The House of My Mother: a Daughter"s Quest For Freedom” by Shari Franke: 101,432 units sold“Careless People: a Cautionary Tale of Power, Greed, and Lost Idealism” by Sarah Wynn-Williams: 97,632 units soldTop 10 Movies Of 2025 (domestic)<p>According To Box Office Mojo</p>“A Minecraft Movie”: $423,941,548“Lilo & Stitch”: $400,019,803“Sinners”: $278,036,257“Captain America: Brave New World”: $200,500,001“How To Train Your Dragon”: $200,250,960“Thunderbolts”: $189,796,527“Mission Impossible – The Final Reckoning”: $186,001,201“Final Destination: Bloodlines”: $136,739,975“Mufasa: The Lion King”: $126,423,748“Dog Man”: $97,970,355Top 10 Movies Of 2025 (worldwide)<p>According To Box Office Mojo</p>“Ne Zha 2”: $1,899,639,136“A Minecraft Movie”: $954,441,548“Lilo & Stitch”: $945,919,803“Mission Impossible – The Final Reckoning”: $562,001,201“How To Train Your Dragon”: $456,084,960“Captain America: Brave New World”: $415,101,577“Thunderbolts”: $381,670,701“Sinners”: $364,536,257“Final Destination: Bloodlines”: $283,239,975“Snow White”: $205,679,463Biggest Billboard No. 1 Songs Released In 2025<p>According to Spotify streams</p>“Manchild” by Sabrina Carpenter: 126,823,256 streams“4x4” by Travis Scott: 121,802,187“What I Want” by Morgan Wallen and Tate McRae: 97,143,569 streamsHow Does This Year’s Box Office Compare To Previous Years?<p>Paul Dergarabedian, a box office analyst for Comscore, told Forbes that 2025 could be the best year for movies since the industry was rocked by the Covid-19 pandemic and the Hollywood labor strikes of 2023. Though this year’s box office is performing better than 2024, it is still behind the 2019 box office by about 26%, according to Comscore data. Dergarabedian said the first quarter of 2025 was slightly underwhelming because of the lack of blockbusters released in December that could have carried over into this year. He said the box office has had built up momentum since April, when “A Minecraft Movie” overwhelmingly beat box office expectations and “Sinners” became a word-of-mouth hit, which he noted is an original movie not connected to an existing franchise, unlike most other box office hits this year. Dergarabedian said the second half of the year is stacked with potential blockbusters, including “Jurassic World Rebirth,” “Superman” and “Avatar: Fire and Ash.”</p><p></p>Tangent<p>“Sunrise on the Reaping,” a prequel novel to the “Hunger Games” book series written by Collins, has had a film adaptation in development since before the book was released. Film studio Lionsgate has already been working to build hype for the film, slated to release in 2026, by revealing the cast one at a time in social media posts since April. Australian actor Joseph Zada stars as a younger version of Haymitch Abernathy, the protagonist of “Sunrise on the Reaping” who participates in the 50th Hunger Games. Other cast members include Elle Fanning as a younger Effie Trinket, Ralph Fiennes as President Snow and Kieran Culkin as Caesar Flickerman.</p>How Did “ne Zha 2” Become A Smash Hit Overseas?<p>The Chinese film “Ne Zha 2” became one of the highest-grossing movies of all time this year—with little help from the United States. The animated film is a sequel to “Ne Zha,” a box office hit released in 2019, and its main character is based on the Chinese mythological character Nezha. “Ne Zha 2” became an immediate smash hit in China upon release in January, and about a month later, took the crown from “Inside Out 2” as the highest-grossing animated film of all time. Only about $20 million of “Ne Zha 2”’s total gross is from U.S. theaters, according to Box Office Mojo, which lists “Ne Zha 2” as the eighth highest-grossing film of all time. Much of its gross comes from Chinese theaters, and multiple outlets reported more than 300 million tickets have been sold in China, a staggering total equaling about one-fifth of China’s population. The film was helped with its release coinciding with the Lunar New Year period, when people had time off from work, and China’s effort to build more movie theaters, Deadline reported, adding that support for the film became a source of national pride. Government subsidies helped fund about $80 million in movie tickets, Deadline reported, adding some companies gave employees the day off to go see the movie. The film’s basis on a traditional Chinese story and its appeal to all generations helped the film connect with audiences, Chinese film critic Raymond Zhou told the New York Times. The success of “Ne Zha 2” comes as Chinese interest in Hollywood films wanes, with only “Godzilla x Kong” ranking in the top 10 at the Chinese box office last year, CNBC reported. </p>Further Reading<p>‘Sinners’ Will Barely Drop From Opening Gross In Its Second Weekend As Movie Continues To Defy Projections (Forbes)</p><p>Who’s Who in ’The Hunger Games: Sunrise on the Reaping’ Cast (The Hollywood Reporter)</p> 2025 In Entertainment—So Far: ‘Minecraft,’ ‘Sinners’ Boost Box Office 16% From Last Year	查看 7294	福布斯	2025-01-01 00:00:00 2025-07-05 03:09:41	word
3197718	有图 <p>Topline<p>Elon Musk hasn’t won any popularity contests in 2025, a stretch plagued by declining popularity among liberals as Musk cozied to President Donald Trump before a messy public divorce from Trump, which weighs heavily on Musk’s most prominent venture, the electric and autonomous vehicle giant Tesla. </p><p></p><fbs-accordion><p>Democrats, Republicans and independents agreed on one thing during 2025’s first six months – they ... More all like the world’s richest man a lot less.</p></fbs-accordion><small>AFP via Getty Images</small></p>Key Facts<p><p>Some 55% of Americans have an unfavorable view of Musk compared to 37% who hold a positive opinion, according to a dashboard from statistician Nate Silver’s Silver Bulletin aggregating hundreds of polls on Musk.</p><p>That’s Musk"s highest unfavorability since the tracker’s inception in January 2024, and Musk’s unfavorability shot up 10 percentage points over 2025’s first half.</p><p>Public perception of Musk predictably soured among Democrats given Musk’s highly powerful role as the top lieutenant to Trump, to whom Musk donated more than $200 million to help elect, as just 16% of Democrats hold a favorable opinion of Musk, according to a June 6-8 poll by Morning Consult, compared to 82% with an unfavorable view of the billionaire.</p><p>But Republicans’ perception of Musk also soured while his tenure as Trump’s chief cost-cutter ended in flames.</p><p>Two-thirds (67%) of Republicans have a favorable opinion of Musk compared to 28% favorable, according to a June 6-9 survey from The Economist/YouGov poll, down from 83% and 9% favorable and unfavorable marks in the December iteration of the survey.</p><p>Independents’ views on Musk also deteriorated, as Musk went from an even 42% favorable/unfavorable split in December to a 27% to 59% favorable/unfavorable split in June, according to the Economist/YouGov survey.</p></p><p><fbs-embedly iframe-src="https://embedly.forbes.com/widgets/media.html?src=https%3A%2F%2Fdatawrapper.dwcdn.net%2FdkXEA%2F1%2F&display_name=Datawrapper&url=https%3A%2F%2Fdatawrapper.dwcdn.net%2FdkXEA%2F1%2F&image=https%3A%2F%2Fdatawrapper.dwcdn.net%2FdkXEA%2Fplain-s.png%3Fv%3D1&type=text%2Fhtml&schema=dwcdn"></fbs-embedly></p>Tesla Crushed As Musk Falls Out Of Favor<p>Musk and Tesla are impossible to untangle – Wall Street analysts often describe the trillion-dollar company as Musk’s “child” – and the car company is off to a slow start to 2025. In the annual Axios Harris Poll 100 ranking of the U.S.’ 100 most visible brands, Tesla tumbled from 63rd to 95th over the last year, and just 32% of Americans view the company favorably, according to a June poll from Associated Press/NORC surveyAssociated Press-NORC Center for Public Affairs Research. Tesla’s financials show clear evidence of brand damage. The company delivered 13% less vehicles to customers over 2025’s first half than it did during the same period last year, as profits shrank an estimated 29% year-over-year, according to FactSet’s blended forecasts of first-quarter results and consensus analyst projections for second-quarter earnings due later this month.</p>Big Number<p>$280 billion. That’s about how much market value Tesla lost during 2025’s first half, more than six times the total valuation of Ford. Tesla stock tumbled 21% during the period. The S&P 500 gained 6% during the period, including reinvested dividends, as Tesla ranked among the 30 worst performers of the 500-stock index.</p><p></p><p><fbs-embedly iframe-src="https://embedly.forbes.com/widgets/media.html?src=https%3A%2F%2Fdatawrapper.dwcdn.net%2Fp9EFF%2F2%2F&display_name=Datawrapper&url=https%3A%2F%2Fdatawrapper.dwcdn.net%2Fp9EFF%2F2%2F&image=https%3A%2F%2Fdatawrapper.dwcdn.net%2Fp9EFF%2Fplain-s.png%3Fv%3D2&type=text%2Fhtml&schema=dwcdn"></fbs-embedly></p>Forbes Valuation <p>Musk remains by far the wealthiest person on Earth with a $407 billion net worth as of June 30’s market close, according to our latest calculations. His fortune declined by $14 billion from where it stood at the end of 2024, as the South Africa-born Musk enjoyed boosts to the value of his stakes in his privately held companies xAI, the generative artificial intelligence startup which absorbed the social media company formerly known as Twitter in March, and SpaceX, the aerospace and satellite internet giant.</p>Crucial Quote<p>“We struggle to think of anything analogous in the history of the automotive industry, in which a brand has lost so much value so quickly,” J.P. Morgan analyst Ryan Brinkman wrote in a note to clients this spring.</p>Further Reading ForbesElon Musk Has Fired One Of His Top Tesla Lieutenants<small>By Alan Ohnsman</small>ForbesTesla’s Newest Nightmare Is Donald Trump<small>By Alan Ohnsman</small> Elon Musk (And Tesla) Became Much Less Popular In 2025	查看 4811	福布斯	2025-01-01 00:00:00 2025-07-05 03:09:41	word
3197717	无图 <p>Topline<p>The number of mass shootings across the country, which spiked during the pandemic, has plummeted 44% from a high in 2023 to a seven-year low so far this year. </p><p></p><fbs-accordion><p>Police tape on June 15, 2025 in Brooklyn Park, Minnesota. </p></fbs-accordion><small>Getty Images</small></p>Key Facts<p><p>Nationwide, 195 mass shootings have been reported through July 2, a 25% decrease from the 262 shootings reported in the same time period last year, and a 44% decrease from the 12-year high of 342 in the first six months of 2023, according to the Gun Violence Archive, which defines a mass shooting as an incident where four or more people are injured or killed, not including the shooter. </p><p>The first six months of 2025 have seen the lowest rate of mass shootings through July 2 since 2018, when 159 incidents were recorded.</p><p>So far in 2025, 165 people have been killed in mass shootings and 897 injured, 40% and 21% lower, respectively, than the 274 deaths and 1,139 injuries reported through July 2, 2024. </p><p>Through July 2, fewer people had died by mass shooting than in any year since 2014, when 107 people were killed, and fewer people were injured than any year since 2019 (784).</p></p><p>Get Forbes Breaking News Text Alerts: We’re launching text message alerts so you"ll always know the biggest stories shaping the day’s headlines. Text “Alerts” to (201) 335-0739 or sign up here: joinsubtext.com/forbes.</p>Big Number<p>4. That"s how many people were killed in each of the six deadliest shootings so far this year. Those incidents took place in Chicago; St. Louis; Minneapolis; Hallandale, Florida; Lake Station, Indiana; and Byron, Wyoming. </p>Key Background<p>Mass shootings spiked in the United States in 2023 when a total of 659 took place, including 338 in the first six months of the year. It was the deadliest year of the last decade, 402 people died by the end of June and 723 by the end of the year. Even before 2023, the U.S. experienced a significant uptick in shootings in concert with the COVID-19 pandemic (there were 199 mass shootings in 2019, which rose to 253 in 2020, 321 in 2021 and 302 in 2022). Researchers from Boston and Chicago, who co-authored a paper on the phenomena in September of 2021, suggested the stresses and pressures of the pandemic could have been to blame as the nation experienced an overall uptick in several types of violent crime. The researchers said the “sudden and additional psychological and financial strains” caused by the pandemic—including lockdowns, general uncertainty, fear of death and social isolation—could have helped trigger the increase in mass shootings. Numbers have steadily fallen since. </p>Tangent<p>The Bureau of Justice Statistics reported last year that violent crime rates fell 72% nationally in the past 30 years, including nonfatal violent crimes such as sexual assault, robbery and aggravated assault, and property crimes such as burglary, trespassing and motor vehicle theft. </p><p></p>Further ReadingForbesU.S. Violent Crime Is Down. Many Voters Refuse To Believe It<small>By Arthur L. Kellermann</small>ForbesJustice Department’s New White Collar Crime Priorities<small>By Steve Weisman</small>ForbesU.S. Mass Shootings And Gun Deaths Fell To Lowest Level In Five Years In 2024<small>By Molly Bohannon</small> Mass Shooting Deaths At 12-Year Low	查看 3337	福布斯	2025-01-01 00:00:00 2025-07-05 03:09:41	word
3197716	无图 <p>Topline<p>The long-awaited live-action remake of Disney’s classic “Snow White” has been hailed by critics as the worst of 2025’s widely released films so far after years of pre-premiere controversies that included racist backlash, concerns about the casting of dwarves and politically motivated criticism of its two leading ladies. </p><p></p><fbs-accordion><p>Rachel Zegler stars in "Snow White." </p></fbs-accordion><small>Disney</small></p>Key Facts<p><p>“Snow White,” which was released in 4,200 theaters in March, was reviewed favorably by only 39% of critics on Rotten Tomatoes.</p><p>With more than 250 critics weighing in, the movie was called "contrived," "cheesy" and “mediocre” on its way to becoming the worst reviewed of the year"s biggest films so far. </p><p>Despite the unfortunate claim to fame, "Snow White" has grossed $87.2 million to become the 11th highest-grossing film of the year as of June 30. </p><p>“Snow White” is one of five of the year’s highest-grossing releases that received a positive rating from less than 60% of reviewers, as did “A Working Man (47%), "A Minecraft Movie” (48%), "Captain America: Brave New World” (48%) and “Karate Kid: Legends” (59%). </p></p><p>Get Forbes Breaking News Text Alerts: We’re launching text message alerts so you"ll always know the biggest stories shaping the day’s headlines. Text “Alerts” to (201) 335-0739 or sign up here: joinsubtext.com/forbes.</p>Surprising Fact<p>Despite also being among the worst-reviewed films of the year, “A Minecraft Movie” has made more than any other U.S. release. The film has grossed $423.9 million since April.</p>Key Background<p>Plans for a live-action remake of 1937’s "Snow White and the Seven Dwarfs" were first reported almost a decade ago, and news broke in 2021 that Rachel Zegler, a Latina actress, would star as the title character. Since then, the film has been a hot bed of controversy. The decision to cast Zegler was met with immediate backlash online and racist comments about the decision to cast a person of color as the "fairest of them all.” Others were angered when Zegler called the original story, first told in a 1937 animated movie, "dated" and referred to the story’s Prince Charming as a "stalker," vowing the new adaptation would take a “different approach.” The inclusion of actress Gal Gadot as the film"s Evil Queen was met with calls for a boycott over her pro-Israel stance. The actress is Israeli, served in the Israel Defense Forces and has publicly supported Israel since the start of the recent Israeli–Palestinian conflict in 2023. Zegler has been publicly pro-Palestinian rights. In 2022, the concept of the new “Snow White” film was criticized by actor Peter Dinklage, who has achondroplasia, a form of dwarfism, when he questioned the need for dwarfs in a modern-day retelling of the story, calling the original “backwards.” Other actors with dwarfism spoke up to express the opposite view, saying not casting dwarfs would be a "missed opportunity to make a movie with seven little people." Ultimately, the seven dwarves in the remake were created using CGI, instead of being played by actors. </p><p></p><fbs-accordion><p>Gal Gadot in "Snow White." </p></fbs-accordion><small>Disney</small><p></p>Crucial Quote<p>“You’re progressive in one way but then you’re still making that f—ing backwards story about seven dwarfs living in a cave together, what the f— are you doing, man?” Dinklage said. “Have I done nothing to advance the cause from my soap box? I guess I’m not loud enough. I don’t know which studio that is, but they were so proud of it. All love and respect to the actress and all the people who thought they were doing the right thing. But I’m just like, ‘What are you doing?’”</p>Tangent<p>Supporters of President Donald Trump vowed to boycott “Snow White” after Zegler spoke out against his election in 2024. Zegler posted on Instagram to say she hoped "Trump supporters and Trump voters and Trump himself never know peace". She said his election would lead to "another four years of hatred." Trump supporters demanded Disney fire Zegler, including conservative media personality Megyn Kelly, who called Zegler "a pig." Zegler later apologized, saying, "I let my emotions get the best of me." Disney reportedly hired a social media guru to vet any further online posts from Zegler between the election and the film’s March release. </p>Further Reading<p>Report the details...</p> Disney’s Controversial ‘Snow White’ Is 2025’s Biggest Critical Failure—So Far	查看 4443	福布斯	2025-01-01 00:00:00 2025-07-05 03:09:41	word
3197715	无图 <p>Topline<p>The Department of Labor reported the number of Americans remaining on unemployment benefits multiple times rose to its highest level since 2021—indicating the labor market might be slightly softening, experts say, although largely remaining stable in the face of economic uncertainty.</p><p></p><fbs-accordion><p>About 1,974,000 Americans remained on unemployment rolls in June, the Department of Labor reported ... More last month.</p></fbs-accordion><small>Copyright 2020 The Associated Press. All rights reserved</small></p>Key Facts<p><p>The number of Americans continuing to apply for unemployment benefits rose in June to its highest level since November 2021, with 1,974,000 receiving continuing claims, according to the Department of Labor’s most recent data released June 26, adjusted for seasonal discrepancies.</p><p>The number of Americans applying for new unemployment benefits decreased over the same period by about 241,500, while the economy added roughly 147,000 jobs in June, according to the Bureau of Labor Statistics most recent report published on Thursday.</p><p>The most recent ADP Employment Report released on Wednesday found that private sector employment shrank by 33,000 jobs in June after months of declining growth.</p><p>And while jobs in some sectors, including construction, manufacturing and trade and transportation grew slightly, larger losses in the service-providing industries including education, professional services, and finance spurred negative job growth for the first time since March 2023, according to ADP’s data.</p><p>These figures have not seen major changes since January, Dr. Ioana Marinescu, an economics professor at the Wharton School of Business at the University of Pennsylvania told Forbes, which she said was “surprising given the turmoil that’s going on and the high level of policy uncertainty.”</p></p>How Are Experts Interpreting This Data?<p>“The fact that the continuing claims are rising more would mean that people are beginning to be unemployed for longer,” Marinescu told Forbes. “And so for that reason, if the economy is slowing down just a tiny bit, some of those people who maybe were unemployed for longer, now they might find it a tiny bit harder to get into the door.” Marinescu said the hiring outlook is also a bit tougher for more inexperienced workers trying to land a first job, such as recent college graduates.</p>How Are Recent College Graduates Faring?<p>One group that has seen a particularly tough job market are young people entering the workforce after finishing college. The unemployment rate for recent college graduates between the ages of 22 to 27 rose to 5.8% in the first quarter of 2025, according to data from the Federal Reserve. That’s much higher than the 2.7% unemployment rate for all college graduates, suggesting that entering the job market is getting harder for young people even if they have a four-year degree. The unemployment rate for recent college graduates rose steadily during the Great Recession, finally peaking at 7.9% in 2010. That figure trended downward for a decade, according to the Fed’s data, but spiked again when the COVID-19 pandemic hit in early 2020.</p>Contra<p>Marinescu said the numbers could point to a “slight slowdown” in the economy, but did not necessarily indicate a larger trend just yet, saying the shift was actually “surprisingly small” given the amount of economic policy uncertainty, citing data compiled by economists at Northwestern and Stanford. “I would expect that businesses would be a little more concerned about hiring.” Instead, hiring has remained fairly flat, albeit lower, than the previous year, Marinescu said.</p><p></p>How Has The Fed Responded?<p>Despite the stagnant numbers, Federal Reserve Chair Jerome Powell has resisted lowering interest rates to stimulate the economy, primarily citing economic uncertainty at least partially driven by President Donald Trump’s tariff policy implemented earlier this year. He also cited largely stable conditions in the labor market for keeping rates stable, telling reporters “the labor market is not crying out for a rate cut,” in June. “Overall, a wide set of indicators suggests that conditions in the labor market are broadly in balance and consistent with maximum employment,” Powell wrote in his June 24 report to Congress. “The labor market is not a source of significant inflationary pressures.” Powell pointed to the overall unemployment rate, which ticked down to 4.1% in June, as well as moderating wage growth on track to outpace inflation.</p> More Americans Staying On Unemployment Amid ‘Slight Slowdown’ Of Economy	查看 4573	福布斯	2025-01-01 00:00:00 2025-07-05 03:09:41	word
3197714	无图 <p>Topline<p>President Donald Trump’s pardons and commutations have cost more than $100 million in fines owed to the federal government and another $1.5 billion in restitution to victims.</p><p></p><fbs-accordion><p>President Donald Trump, accompanied by White House staff secretary Will Scharf (L), and Commerce ... More Secretary nominee Howard Lutnick (R), speaks as he signs a series of executive orders including a pardon for former Illinois Gov. Rod Blagojevich at the White House on February 10, 2025 in Washington, DC. (Photo by Andrew Harnik/Getty Images)</p></fbs-accordion><small>Getty Images</small></p>Key Facts<p><p>Trump has pardoned or commuted the sentences of 16 people or companies whose sentences included fines ranging from $50 to $100,000,000 and total $102,647,458, according to a Justice Department list, though the figure is likely even higher as the DOJ list omits some previously reported fines and restitution payments. </p><p>Meanwhile, Trump has granted clemencies and commutations to people who owe more than $1.3 billion in restitution money, combined, to victims of white collar crime, according to the former U.S. pardon attorney Liz Oyer, who tallied the money using court records. </p><p>Fines are paid to the Treasury Department, while restitution is paid to crime victims. </p><p>Oyer’s tally does not include $2.6 million in restitution payments the 1,270 pardoned Jan. 6 defendants owed, according to a report by House Democrats.</p><p>Trump issued the pardons at the same time his administration has lamented the size of the federal government’s debt.</p></p>Who Were Among Those Trump Pardoned Who Owed Money?<p>The people included in Oyer’s tally include Nikola founder and Trump donor Trevor Milton, who owed nearly $680 million in restitution to Nikoka shareholders; Todd and Julie Chrisley, reality TV stars convicted of bank and wire fraud who were ordered to pay more than $22 million in restitution combined; and Paul Walczak, who was convicted of tax crimes and owed $4.4 million in restitution before he was pardoned by Trump after his mother attended a $1 million-per-person fundraising dinner for the president.</p>What We Don’t Know<p>It’s unclear how much of the fines had already been paid to the federal government at the time of the pardons and commutations. Money already paid would not be refunded to those who received clemencies. </p>Big Number<p>70. That’s the total number of pardons and commutations Trump has issued this year, according to the DOJ, not counting Jan. 6 defendants. </p>Surprising Fact<p>Former President Joe Biden granted 4,245 acts of clemency during his time in office, more than any other president in history, according to Pew Research Center. </p><p></p>Tangent<p>The Justice Department and some Jan. 6 defendants have argued they should be reimbursed for the fines and restitution they already paid. At least one federal judge, Randolph Moss, ruled recently against a refund request, writing that “once a conviction has been "established by judicial proceedings," any penalties imposed are "presumed to have been rightfully done and justly suffered," regardless of whether the defendant later receives a pardon," Law & Crime reported.</p>Key Background<p>Trump has made a multitude of controversial pardons since taking office, many for people he claims were politically persecuted by the Biden administration or those who align with him politically. He pardoned the Chrisleys, for example, after their daughter, Savannah Chrisley, spoke at the Republican National Convention and fiercely advocated for the pardons. Devon Archer and Jason Galanis, both convicted of defrauding Native Americans, were pardoned after they testified in the Republican impeachment inquiry against Biden. </p>Further Reading<p>Pardon Applications Are Being Carefully Crafted With One Man In Mind: Donald Trump (Associated Press)</p><p>Former FBI Agent Pardoned By Trump For Jan. 6 Charges Now Serving In Justice Department: Sources (ABC News)</p><p>Trump Pardons Drug Kingpins Even As He Escalates U.S. Drug War Rhetoric (NPR)</p> Here’s How Much Trump’s Pardons And Commutations Have Cost The Federal Government	查看 4100	福布斯	2025-01-01 00:00:00 2025-07-05 03:09:41	word
3197713	无图 <p>Topline<p>President Donald Trump and his administration have won less than one in three of the significant rulings that courts have issued over his policies in the months since Inauguration Day, though judges he appointed have sided with him 76% of the time—and the Supreme Court’s ruling limiting lower courts could give the president a slew of new wins.</p><p></p><fbs-accordion><p>President Donald Trump shakes hands with Supreme Court Chief Justice John Roberts after he was sworn ... More into office on January 20.</p></fbs-accordion><small>Getty Images</small></p>Timeline<p><p>The Trump administration has lost approximately 60% of the court rulings against it since Inauguration Day and won 30%—while another 10% were mixed rulings both in favor and against the administration—based on a total of 182 rulings between Jan. 20 and June 30, with 55 in the government’s favor and 109 against it.</p><p>Feb. 6LOSS: Judge John Coughenour issued the first major ruling of Trump’s second term, imposing an injunction that blocked the president’s new restrictions on birthright citizenship from taking effect nationwide.</p><p>Feb. 11LOSS: Judge John Bates ordered the Trump administration to restore health-related government websites that it had taken offline following Trump’s inauguration, after Doctors for America argued the information being removed violated federal law and the loss of information harmed its membership.</p><p>Feb. 12WIN: Judge George O’Toole cleared the way for the Trump administration to enforce its policy asking federal employees to decide if they wanted to take a buyout offer, as O’Toole reversed a previous order he issued that blocked the deadline for employees to respond, ruling the unions that brought the lawsuit didn’t have standing to challenge the policy.</p><p>Feb. 19LOSS: A federal appeals court ruled for the first time in Trump’s second term, upholding the injunction blocking Trump’s restrictions on birthright citizenship—one of numerous district and appeals court rulings that also sided against the president on the executive order.</p><p>Feb. 21LOSS: The Supreme Court weighed in for the first time on Trump’s second-term actions, keeping an order in place that temporarily allowed former head of the U.S. Office of the Special Counsel Hampton Dellinger to stay in his role while the court considered whether Trump firing him was legal—though Dellinger later ended his case after an appeals court then ruled against him.</p><p>WIN: The Trump administration also won in court that day, as Judge Carl Nichols—a Trump appointee—denied a request by labor unions to block the Trump administration from dismantling the U.S. Agency for International Development, as he backed the Trump administration’s argument that putting employees living abroad on administrative leave will not be as harmful as the unions claim.</p><p>Feb. 28LOSS: Judge Lauren King blocked two Trump executive orders targeting transgender rights, siding with Democratic-led states and blocking policies that would bar federal funding from being used to “promote gender ideology” or to give grants to any organizations that provide gender-affirming care to minors.</p><p>March 5LOSS: The Supreme Court ruled 5-4 not to grant Trump’s request to halt a lower court ruling requiring the administration to pay out money for work by foreign aid groups that had already been completed; in his dissent, Justice Samuel Alito—joined by Justices Neil Gorsuch, Clarence Thomas and Brett Kavanaugh—chided the majority for giving a lower court judge “the unchecked power to compel the Government of the United States to pay out (and probably lose forever) 2 billion taxpayer dollars.”</p><p>March 6LOSS: Judge John McConnell issued a more lasting order blocking the Trump administration’s directive for agencies to halt all federal spending, after previously issuing a more temporary pause right after the freeze was announced, with McConnell writing the policy “fundamentally undermines the distinct constitutional roles of each branch of our government.”</p><p>March 7WIN: Judge Colleen Kollar-Kotelly denied labor unions’ effort to block officials with the Elon Musk-led Department of Government Efficiency (DOGE) from accessing sensitive Treasury Department data—at least while the case moves forward—ruling that while the plaintiffs’ concerns are “understandable,” they hadn’t met the high bar to show access must be blocked while the litigation moved forward.</p><p>March 24LOSS: Judge Deborah Boardman granted labor unions’ request to block DOGE officials from accessing Americans’ personal information through databases at the Department of Education, Office of Management and Budget and Treasury Department, including the database with information about student loan borrowers.</p><p>March 25WIN: The Trump administration largely received a win as an appeals court allowed the government to suspend refugee admissions, pausing a lower court order that blocked the suspension—though the three-judge panel, which included one Trump appointee, did allow any refugee admissions for anyone who was conditionally approved to enter the U.S. before Inauguration Day.</p><p>March 31MIXED: Judge Anthony Trenga partially granted federal employees who work in diversity, equity and inclusion’s request to halt their termination, barring the Trump administration from firing them without court approval, but rejecting a request by the plaintiffs to extend that block to other employees with similar jobs who aren’t parties in the case.</p><p>April 7MIXED: The Supreme Court threw out lower court orders that barred the removal of some migrants under the Alien Enemies Act—which Trump has sought to use to deport alleged members of the Venezuelan Tren de Aragua gang—but also ruled people subject to deportation under the act are entitled to judicial review before they can be deported, as the Trump administration has faced criticism for deporting people without affording them due process.</p><p>LOSS: After the Supreme Court ruled the Trump administration must “facilitate” the return of Kilmar Abrego Garcia—a Maryland man mistakenly deported to El Salvador—to the U.S., a federal appeals court similarly upheld a lower court order requiring the government to return Garcia to the U.S., ruling the Trump administration defending its decision to deport the man without any due process was “unconscionable.”</p><p>April 8WIN: While lower courts barred the Trump administration from firing probationary employees at multiple federal agencies, the Supreme Court cleared the way for the mass terminations to take place, ruling 7-2 to pause the lower court rulings and let the firings take place while the appeals process plays out.</p><p>April 18 LOSS: Judge Brian Murphy blocked the Trump administration from deporting immigrants to third countries—places that aren’t the U.S. or their original homeland—while litigation moves forward; the judge later asserted his ruling in May and said the Trump administration had “unquestionably” violated it by sending some migrants to South Sudan.</p><p>May 6 WIN: The Supreme Court let the Trump administration’s ban on transgender Americans serving in the military take effect, ruling 6-3 to pause a lower court ruling that blocked the ban while the appeals process plays out.</p><p>LOSS: The 3rd Circuit Court of Appeals also dealt a blow that day, denying the Trump administration’s effort to appeal an order over the detention of Columbia University student and pro-Palestinian activist Mahmoud Khalil—who remained in detention until June 20, when a federal district judge ordered his release after declaring the Trump administration’s main argument for detaining him to be insufficient.</p><p>May 12 WIN: Judge Dabney Langhorne Friedrich, a Trump appointee, denied a request by immigrant rights groups to block the Internal Revenue Service from sharing taxpayer information with the Department of Homeland Security for immigration enforcement purposes, as plaintiffs warned the government could use people’s private tax information in order to deport or detain them.</p><p>May 16 LOSS: The Supreme Court ruled 7-2 to block the Trump administration from continuing to remove people from the U.S. under the Alien Enemies Act, which is a temporary ruling while the litigation moves forward; the court did not make any judgment on whether or not Trump can lawfully use the act to deport people more generally.</p><p>May 19 WIN: Supreme Court justices ruled 8-1 to let the Trump administration halt the government’s Temporary Protected Status for some 500,000 migrants while litigation moves forward—paving the way for those immigrants to be deported—with only Justice Ketanji Brown Jackson dissenting from the court’s decision.</p><p>May 22 LOSS: Judge Jeffrey Steven White blocked the Trump administration’s decision to cancel thousands of international students’ visas, at least while litigation remains pending, issuing a preliminary injunction that bars the Trump administration from broadly taking action against student visa holders after hundreds of individual students had separately challenged their visa revocations in court. </p><p>WIN: The Supreme Court delivered a win for the Trump administration that same day, allowing the government to fire a member of the National Labor Relations Board and a member of the Merit Systems Protection Board who had challenged their removals, with the court ruling 6-3 along partisan lines to pause lower court orders that kept the board members in their jobs while their lawsuits moved forward.</p><p>May 26 WIN: The Supreme Court ruled 5-4 to allow the Trump administration to cancel grants through the Department of Education while litigation remains pending, with Chief Justice John Roberts joining the court’s liberal justices in dissenting from the court’s opinion and voting to leave the grants in place.</p><p>May 27 LOSS: Judge Richard Leon ruled in favor of law firm WilmerHale as it fought Trump’s executive order retaliating against the firm for bringing cases and hiring lawyers he doesn’t like, with the judge writing that doing anything but striking down the executive order “would be unfaithful to the judgment and vision of the Founding Fathers”—one in a suite of court rulings that have unanimously been in favor of the law firms Trump has targeted.</p><p>MIXED: Judge Tanya Chutkan—who previously oversaw one of the criminal cases against Trump—ruled both for and against the Trump administration in a case challenging Elon Musk and DOGE’s broad authority over the federal government, with Chutkan denying the government’s motion to dismiss the case when it came to the allegations against Musk and DOGE, but throwing out claims against Trump himself.</p><p>May 30 WIN: The Supreme Court ruled 7-2 to let the Trump administration dissolve the temporary legal status for some asylum-seekers from Cuba, Haiti, Nicaragua and Venezuela while litigation moves forward, meaning the government can deport more than 500,000 immigrants, throwing out a lower court order that kept the protections in place while the lawsuit proceeded.</p><p>June 4 LOSS: Judge James Boasberg issued a preliminary injunction saying the migrants the Trump administration deported to El Salvador under the Alien Enemies Act were unlawfully denied their due process rights, after the judge previously ordered the Trump administration to halt its flights to El Salvador while they were still in the air—and then ruled in April to hold Trump officials in criminal contempt for violating that order.</p><p>LOSS: Trump suffered two court losses that day, as a federal appeals court also denied the government’s effort to pause a lower court ruling that blocked the Trump administration’s efforts to dismantle the Department of Education, including firing workers en masse and moving department functions to different agencies.</p><p>June 6 WIN: The Supreme Court ruled 6-3 along party lines to block a lower court order requiring DOGE to turn over depositions and other evidence about its activities, as part of a lawsuit over its authority to comply with federal public disclosure rules, with justices also ordering a lower court to narrow the scope of the information that DOGE must provide.</p><p>WIN: The Supreme Court also ruled 6-3 to halt a lower court order that barred DOGE’s access to Social Security data, meaning officials with the agency can access Social Security information while the case moves forward.</p><p>June 10 WIN: After the Court of International Trade blocked Trump’s sweeping “Liberation Day” tariffs and ruled they were unlawfully imposed, a federal appeals court then put that ruling on hold, meaning the tariffs will stay in effect until the appeals court can issue a further ruling in the case—though the court did not uphold the tariffs’ legality, as Trump claimed.</p><p>June 16 LOSS: Judge William Young, a Reagan appointee, ordered the Trump administration to restore research grants through the National Institutes of Health, harshly rebuking the government during a hearing and saying its “appalling” actions “[represent] racial discrimination and discrimination against America’s LGBTQ community,” adding, “The Constitution will not permit that … Have we fallen so low? Have we no shame?”</p><p>June 19 WIN: The 9th Circuit Court of Appeals paused an order that blocked Trump deploying the National Guard in response to protests in Los Angeles, allowing the president to keep troops in place in California while the appeal is pending.</p><p>June 23 WIN: The Supreme Court ruled 6-3 to pause Murphy’s April 18 order barring the Trump administration from deporting migrants to third countries, clearing the way for the administration to resume deportations, though Murphy ruled shortly after that the high court’s ruling did not affect his decision barring the Trump administration from deporting people to South Sudan.</p><p>June 27 WIN: The Supreme Court delivered its biggest ruling on Trump’s agenda thus far, ruling 6-3 along partisan lines to restrict lower federal judges’ ability to block the government’s policies nationwide, though justices declined to weigh in on whether his birthright citizenship order at the heart of the case is constitutional.</p></p>Big Number<p>302. That’s the total number of lawsuits that have been brought against the Trump administration as of June 27, according to a tally by Lawfare, which does not include separate cases in which the Trump administration has brought lawsuits under state laws.</p>How Will The Supreme Court’s Birthright Citizenship Order Impact Cases?<p>The Supreme Court’s ruling restricting judges’ ability to constrain Trump is likely to upend how litigation against the administration plays out going forward. Justices ruled that while the Supreme Court can still block policies nationwide, lower courts can only issue rulings that provide relief to the parties in the lawsuit and do not extend beyond that. The Trump administration intends to move quickly in court to challenge existing court orders that block its policies nationwide, Reuters reports, singling out orders restricting DOGE and federal layoffs as being particularly big priorities. That means there could soon be an influx of judges who, constrained by the high court’s ruling, let Trump policies take effect after previously blocking them. The court’s ruling did keep in place several ways that federal judges can still block policies nationwide even without nationwide injunctions, such as plaintiffs bringing class-action lawsuits on behalf of specific demographics (like people subject to certain immigration orders) or challenging federal statutes under the Administrative Procedure Act, which lets judges block actions by federal agencies if they’re deemed to be unlawful. Courts could also block policies nationwide when doing so is logistically necessary to give parties relief: States challenging Trump’s birthright citizenship order argued the policy has to be blocked nationwide, for instance, because otherwise people could be citizens in their states but not other states. While plaintiffs are likely to try and tailor their cases to fit one of those carveouts going forward, the Supreme Court’s ruling is still likely to have widespread impacts. It could create a patchwork situation where policies are only in place in some states but not others, and likely ensures more major policies will be ultimately decided by the conservative-leaning Supreme Court.</p><p></p>How Have Trump-Appointed Judges And Non-Trump-Appointed Judges Ruled?<p>Trump and his allies have railed against judges as the administration has faced a series of court losses, claiming they’re biased against Trump and in some cases calling for the judges’ impeachment. While there’s no evidence that any judges’ decisions are motivated by anti-Trump bias, the data does suggest the Trump administration overwhelmingly has far better luck in court when a Trump-appointed judge is considering its case. While the government has only had success about 30% of the time in court overall, that number shoots up to 76% when a Trump judge has ruled on the case, whether alone as a district court judge or as part of a panel of appeals court judges. Trump’s appointments of judges to appeals courts has been particularly helpful to him: Every single ruling by an appeals court that the administration has won, as of June 30, has included at least one Trump-appointed judge on the panel. There are only two occasions so far in which a Trump appointee has voted against the president in an appeals court and three in district courts. Rulings decided by judges appointed by other presidents are much less favorable, by contrast, coming out in Trump’s favor only 13% of the time, not including mixed rulings. That includes judges appointed by presidents of both parties, including Republican Presidents Ronald Reagan, George H.W. Bush and George W. Bush.</p>How Has The Supreme Court Ruled?<p>Trump has reportedly been privately lamenting that the three conservative justices he appointed to the Supreme Court are not doing his bidding as much as he’d like, CNN reported in early June, though his win in the birthright citizenship led him to praise the justices and say they should be “proud.” While Trump has singled out the birthright citizenship case as benefiting him, the 6-3 conservative court has largely ruled in his favor even beyond that decision: Of the 15 cases the full court had issued rulings on as of June 30, ten of them have sided with the Trump administration. Three rulings were against the government, while another two were more of a mixed bag that had wins for either side. (That tally does not include any temporary rulings that only one Supreme Court justice made, which would be interim decisions before the full court could weigh in.) With the exception of the birthright citizenship case, those rulings have so far only been through what’s known as the “shadow docket,” which means the court rules on an issue without taking it up for oral arguments, as it typically does for big cases. Those rulings will typically put a policy on hold or keep it in place while litigation moves forward in lower courts, which means the high court could still issue rulings on it again in the future.</p>What Court Rulings Are Still Coming Up?<p>There are still a number of pending cases in which courts haven’t reached any major rulings yet, such as Trump’s defunding of NPR and the government’s agreement with El Salvador to imprison migrants. In other cases, judges have only issued temporary restraining orders that are set to expire if the court doesn’t grant more lasting injunctions, such as in cases regarding various grant freezes at federal agencies.</p>Methodology<p>Forbes’ tally of court rulings is based on lawsuits that have been brought against the Trump administration since Inauguration Day, as compiled with the help of legal trackers by Fix the Court, Lawfare and Just Security. The tally does not include temporary restraining orders issued by district courts or administrative stays issued by appeals courts—which just immediately put actions or rulings on hold while the court considers whether to issue a more lasting decision—but does include rulings on preliminary injunctions, which are not final rulings, but rather block Trump administration policies or court rulings while litigation moves forward. It also includes rulings by appeals courts to pause lower court rulings while the appeals process plays out. Rulings on summary judgment—final rulings on an issue without it having to go to trial—and permanent injunctions against policies were also included, as were cases in which a judge rules on a motion to dismiss a case. Any rulings based on parties voluntarily dismissing their case were excluded. While the tally includes a number of immigration-related cases, it does not include court rulings on immigration cases brought by an individual who’s seeking relief from being detained or deported, given the hundreds of such cases that have been brought. It does include rulings on those cases at the appeals court level or by the Supreme Court. In instances where two or more lawsuits have been consolidated and the court only issues one ruling applying to multiple cases, that only counts as one ruling for the sake of the analysis. The count only includes one ruling per case in a certain court, meaning if a judge were to rule against the Trump administration but then in favor of it, that would count as a win.</p>Further ReadingForbesCan Democrats Still Fight Trump In Court? What Supreme Court’s Birthright Citizenship Ruling Means For President’s Agenda<small>By Alison Durkee</small>ForbesSupreme Court Limits Judges From Blocking Some Trump Policies—But Punts On Birthright Citizenship Rule<small>By Alison Durkee</small> Trump’s Wins And Losses In Court: Has Only Won 30% Of The Time	查看 21888	福布斯	2025-01-01 00:00:00 2025-07-05 03:09:41	word
3197712	无图 <p>Topline<p>While tourism is booming across the rest of the world, the U.S. is a notable loser this year as tens of millions of international visitors are choosing to travel elsewhere—costing the economy up to $29 billion—and risking millions of jobs. </p><p></p><fbs-accordion><p>U.S. inbound tourism is in decline this year as millions of international visitors choose to travel ... More elsewhere.</p></fbs-accordion><small>getty</small></p>Key Facts<p><p>Last month, a study from the World Travel & Tourism Council (WTTC) that analyzed the economic impact of tourism in 184 countries revealed the U.S. was the only country forecast to see international visitor spending decline in 2025.</p><p>The WTTC projects the U.S. to be on track to lose $12.5 billion in international visitor spending this year compared to last year, according to the research.</p><p>It could be argued, however, that the actual losses will be significantly larger, given that Tourism Economics, a division of Oxford Economics, had originally forecasted the U.S. would see a 9% jump in international inbound travel in 2025.</p><p>A 9% increase would have equated to a boost of about $16.3 billion in revenue for the U.S. economy.</p><p>Instead, Tourism Economics has revised its baseline forecast to a year-over-year decline of 8.2%—a significant 17.2% variance from its original 9% increase.</p><p>From the anticipated $16.3 billion increase in revenue to a loss of between $8.3 billion (Tourism Economics estimate) and $12.5 billion (WTTC estimate), the U.S. is facing a shortfall of $25 billion to $29 billion this year.</p></p>Why Are International Travelers Avoiding The U.s. This Year?<p>“While other nations are rolling out the welcome mat, the U.S. government is putting up the ‘closed’ sign,” Julia Simpson, president and CEO of WTTC, said in a statement. In its latest client note, Tourism Economics blamed “sentiment headwinds” for its projections of significant declines in visitation from Canada (-20.2%) and Western Europe (-4.9%) in 2025. President Donald Trump’s tariffs, travel bans, inflammatory rhetoric and harsh immigration policies have combined for a chilling effect on visitors—and there’s little indication of a reversal anytime soon. “Given we’re halfway through the year and we’ve seen these impacts, we don"t know when the stiffest headwind is, but I think it does stay sustained,” Aran Ryan, director of industry studies at Tourism Economics, told Forbes. “We’re generally assuming that this persists for a while and that some of it is going to persist throughout the end of the administration.” </p>Which Tourists Are The Most Missed By U.s. Destinations?<p>The significant decline in visitors from Canada is particularly costly, as Canadian tourists made up roughly one-quarter of all foreign travelers who came to the United States in 2024, according to the U.S. National Travel and Tourism Office (NTTO). Last year, Canadians spent $20.5 billion—nearly twice what Americans spent at McDonald’s restaurants in all of last year. And the Canadians show no signs of relenting. In May, Canadian visitation dropped 38% by car and 24% by air compared to the same month in 2024. It was the fifth consecutive month of steepening year-over-year declines, following double-digit drops in April and March. On first-quarter earnings calls in early May, executives from major hotel and travel companies noted that Canadians were still traveling as much as ever—just not to the United States. Hyatt chief executive officer Mark Hoplamazian called the phenomenon “a flyover.”</p>Have Trump’s Policies Impacted Americans Traveling Abroad?<p>In recent months, news outlets from CNN to USA Today to the BBC have reported an increase in anxiety among Americans fearing backlash or hostility when traveling abroad. In a snap survey conducted by Global Rescue in March after Trump’s address to Congress, 72% of 11,000 respondents—the majority based in the U.S. and Canada—believed Americans would be “perceived more negatively abroad in 2025 due to recent U.S. international policy proposals.” (The U.S. State Department’s “worldwide caution,” issued one day after the U.S. bombed Iran, which advises Americans to “exercise increased caution” while out of the country, is a separate issue.) Other outlets have reported that some Americans are more concerned about being detained or harassed by U.S. Customs and Border Protection agents when they re-enter the U.S., perhaps in retaliation for anti-Trump criticism on social media. During both Trump administrations, the American Civil Liberties Union (ACLU) has repeatedly warned Americans that agents have searched the electronic devices of U.S. citizens at the border, sometimes holding phones or laptops for weeks or even months. “All travelers crossing the United States border are subject to CBP inspection,” the Customs and Border Protection website confirms. “On rare occasions, CBP officers may search a traveler’s mobile phone, computer, camera, or other electronic devices during the inspection process,” adding that“less than 0.01 percent of arriving international travelers” have their electronic devices searched.But reports of the agency targeting individuals for anti-Trump sentiment persist. Last month, Turkish-American influencer Hasan Piker was reportedly detained for hours at Chicago O"Hare International Airport after returning from France. Piker claims federal agents asked him, “Do you like Donald Trump?” Last week, an American political consultant returning from a family vacation in Turks and Caicos was detained for 45 minutes in a holding room at the airport, the Los Angeles Times reported. The consultant said agents didn’t give him a reason for the delay but he “speculated that perhaps it was because of the Obama-Biden T-shirt packed in his suitcase.”</p><p></p>Can The Downward Trend Be Turned Around?<p>“This is a wake-up call for the U.S. government,” Simpson said. “Without urgent action to restore international traveler confidence, it could take several years for the U.S. just to return to pre-pandemic levels of international visitor spend.” Yet the Trump administration and Republican party do not appear to be taking note. A Senate committee led by Senator Ted Cruz (R-Tex.) slashed the budget of Brand USA, the country’s public-private destination marketing organization, from $100 million to $20 million. The U.S. Travel Association said it is “deeply concerned,” claiming that “for every $1 spent on marketing, Brand USA adds $25 to the U.S. economy,” and warning such drastic cuts will “significantly impact every sector of our industry.”</p>Further Reading<p>How Trump Is Torpedoing Foreign Tourism To The US—Potentially For Years To Come, Say Analysts (Forbes)</p> Trump Policies Will Cost The U.S. Up To $29 Billion In Tourism	查看 6756	福布斯	2025-01-01 00:00:00 2025-07-05 03:09:41	word
3197711	无图 <p>Topline<p>U.S. stock futures slumped early on Friday after President Donald Trump said his administration will start sending out letters to trading partners to inform them about the unilateral tariff rate to be imposed on them, which he suggested could be as high as 70%.</p><p></p><fbs-accordion><p>President Donald Trump speaks with reporters as he arrives on Air Force One, Friday, July 4, 2025, ... More at Joint Base Andrews, Md. (AP Photo/Alex Brandon)</p></fbs-accordion><small>Copyright 2025 The Associated Press. All rights reserved</small></p>Key Facts<p><p>All major U.S. futures indexes were hit hard early on Friday, led by the benchmark S&P 500 futures, which dropped nearly 0.6% to 6,288 points.</p><p>Dow Futures fell 0.5% to 44,865 points, while the tech-heavy Nasdaq Futures dropped by 0.56% to 22,932.25 points.</p><p>The futures slump follows the S&P 500 and Nasdaq"s record closing highs after Thursday’s shortened trading session, buoyed by stronger-than-expected job data.</p><p>U.S. markets will remain closed on Friday for Independence Day.</p><p>European stocks also appeared to be hit by news of the unilateral tariffs, as the pan-European STOXX 50 index fell by 0.7% and the London Stock Exchange’s FTSE 100 index dropped by 0.3%.</p></p>What Did Trump Say About Setting Tariff Letters?<p>Trump told reporters on Thursday that his administration will likely start sending out letters on Friday informing trading partners about the tariff rates they will face starting next month. The president said that “10 or 12” letters are likely to be sent out on Friday, with more letters to follow in the “next few days.” Trump expects all such unilateral tariff letters to be sent out by July 9, the deadline he had previously set for concluding trade negotiations and ending a 90-day pause on his ‘Liberation Day’ tariffs. Trump told reporters: “They’ll range in value from maybe 60 or 70% tariffs to 10 and 20% tariffs.” The president, however, didn’t specify which countries are likely to receive such letters.</p>What Has Trump Previously Said About Unilateral Tariffs?<p>Last month, Trump said the U.S. was holding trade negotiations with around 15 countries, but noted that the U.S. has “150 plus” trading partners and “at a certain point, we’re just going to send letters out…saying this is the deal, you can take it or leave it.” At the time, Trump had said the letters would go out “in about a week and a half, two weeks.”</p>Further Reading<p>U.S. Futures Drop As Trump Says He’ll Send Out ‘Take It Or Leave It’ Tariff Deals In 2 Weeks (Forbes)</p><p></p> U.S. Futures Slide As Trump Says Tariff Letters Will Be Sent Out Today	查看 2596	福布斯	2025-01-01 00:00:00 2025-07-05 03:09:41	word
3197710	无图 <p>Topline<p>President Donald Trump vowed Thursday to send letters out to at least a dozen countries imposing tariff rates as high as 70%, in order to secure new rates before the 90-day pause on his sweeping tariffs expires—the latest tariff policy change, as the president and his administration have frequently flip-flopped its trade policy in the months since “Liberation Day.”</p><p></p><fbs-accordion><p>Treasury Secretary Scott Bessent (2nd R) and Commerce Secretary Howard Lutnick look on as President ... More Donald Trump speaks after signing an executive order at White House on April 9.</p></fbs-accordion><small>AFP via Getty Images</small></p>Timeline<p><p>Feb. 7Trump made his first public comments about imposing sweeping tariffs on foreign imports—after already announcing separate tariffs on goods from China, Canada and Mexico—telling reporters he wanted reciprocal tariffs that match the duties countries levy on American goods, saying he wants to make sure “we’re treated evenly” and that “we don’t want any more, any less.”</p><p>Feb. 13Trump signed a memorandum directing his administration to fix its “non-reciprocal trade arrangements” with other countries by “determining the equivalent of a reciprocal tariff with respect to each foreign trading partner,” taking into account what tariffs a country levies on American goods, but also related costs like value-added taxes and nontariff trade barriers like regulations that make it harder for the U.S. to import their goods.</p><p>March 26The Trump administration announced 25% tariffs on imported cars to be imposed starting April 3, with an extension to imported auto parts starting May 3, as Trump suggested the levies would accelerate “tremendous growth in the automobile industry” as automakers build more U.S.-based plants.</p><p>March 27Trump indicated his auto tariffs would be “permanent” throughout his second term.</p><p>March 31White House Press Secretary Karoline Leavitt told reporters there would be “no exemptions at this time” to Trump’s impending tariffs on foreign goods.</p><p>April 2Trump rolled out his tariff policy at a “Liberation Day” event at the White House, releasing details of the plan that showed nearly all countries (even uninhabited ones) facing tariffs ranging from 10% and 50%—but the Trump administration appeared to calculate by just dividing a country’s trade surplus with the U.S. by its export value, rather than the more sophisticated formula the administration claimed (flip-flop No.1 ).</p><p>Contrary to Leavitt’s March 31 comments, the executive order imposing the tariffs exempted “copper, pharmaceuticals, semiconductors, lumber articles, certain critical minerals, and energy and energy products” (flip-flop No. 2).</p><p>Trump also backtracked on his previous commitment for the U.S. to charge reciprocal tariffs matching the ones other countries impose on American goods, saying in his speech the administration would instead “charge them approximately half of what … [other countries] have been charging us, so the tariffs will be not a full reciprocal,” adding, “I could have done that, I guess, but it would have been tough for a lot of countries and we didn’t want to do that” (flip-flop No. 3).</p><p>April 3, 4 p.m. EDTTrump trade adviser Peter Navarro denied to CNBC that Trump intended to negotiate his tariffs with other countries—saying, “This is not a negotiation. This is not that. This is a national emergency”—after Lutnick told CNN earlier that day Trump was “not going to back off” his tariffs.</p><p>April 3, 5 p.m. EDTTrump told reporters aboard Air Force One he was open to negotiating the tariffs—less than an hour after Navarro’s comments—saying the U.S. has “great power to negotiate” because of the tariffs and he was open to making a deal “if somebody said that we’re going to give you something that’s so phenomenal, as long as they’re giving us something that’s good” (flip-flop No. 4).</p><p>April 4, 8:44 a.m. EDTTrump insisted he wouldn’t back off his tariff policy, writing on Truth Social, “TO THE MANY INVESTORS COMING INTO THE UNITED STATES AND INVESTING MASSIVE AMOUNTS OF MONEY, MY POLICIES WILL NEVER CHANGE.”</p><p>April 6, 9-11:30 a.m. EDTMultiple Trump advisers suggested on Sunday shows Trump will not back off his tariffs for the foreseeable future, with Treasury Secretary Scott Bessent telling “Meet the Press” the tariffs are “not the kind of thing you can negotiate away in days or weeks” and Lutnick telling CBS News “there is no postponing” the tariffs taking effect.</p><p>Trump aides also suggested the president was open to negotiations, however, with White House economic adviser Kevin Hassett telling ABC News “more than 50 countries” have reached out about starting talks, while Bessent said negotiations were “gonna be a decision for President Trump, but … he"s created maximum leverage for himself” (flip-flop No. 5). </p><p>Lutnick seemingly doubled down on tariffs being imposed on smartphone imports, despite the tariffs causing Apple’s stock price to decline, telling CBS, “The army of millions and millions of human beings screwing in little, little screws to make iPhones, that kind of thing is going to come to America.”</p><p>April 7, 11:14 a.m. EDTTrump threatened additional 50% tariffs on China in response to Beijing retaliating against his tariffs and said “all talks” with the country’s government “will be terminated,” but said his administration would begin tariff negotiations “immediately” with other countries that have reached out—with Bessent then confirming shortly after the president had directed him to begin negotiations with Japan.</p><p>April 7, 3 p.m. EDTSpeaking to reporters in the Oval Office, Trump said he was “not looking at” pausing his tariffs, and, when asked if his tariffs were permanent or if they could be negotiated, said, “Both can be true,” adding, “There can be permanent tariffs, and there can also be negotiations.”</p><p>The president also insisted he would move forward with his tariff agenda despite them roiling the stock market, saying, “No other president would be willing to do what I’m doing,” but “I don’t mind going through it because I see a beautiful picture at the end.”</p><p>April 8Trump trade representative Jamieson Greer testified to the Senate Finance Committee the White House “will have the president’s plan go into effect” on April 9 as scheduled—denying there would be any delay—but the government was “coupling that with immediate negotiations.”</p><p>April 8, 1 p.m. EDTLeavitt told reporters during a press briefing that Trump has directed his trade team to “have tailor-made trade deals with each and every country that calls up this administration to strike a deal,” and emphasized Trump intended to bring manufacturing of tech products to the U.S., saying the president “absolutely” thinks iPhones and other products could be made in the U.S. and Trump “believes we have the labor, we have the workforce, we have the resources to do it.”</p><p>April 9, 9:33 a.m. EDTTrump told Americans to “BE COOL” after the stock market plunged in response to his tariffs taking effect at 12:01 a.m. EDT, writing on Truth Social, “Everything is going to work out well,” and later urging Americans to buy stock and for companies to move their operations to the U.S.</p><p>April 9, 1:18 p.m. EDTIn a stunning about face, Trump announced on Truth Social he was pausing the worst of his tariffs on most countries for 90 days, though he would continue a baseline 10% tariff rate and raise his tariffs on most Chinese goods by 125%. (flip-flop No. 6).</p><p>Trump officials suggested immediately after his announcement the pause was part of the president’s negotiating strategy, with Bessent telling reporters, “This was his strategy all along” and Trump “goaded China into a bad position,” while Leavitt told reporters, “Many of you in the media clearly missed the art of the deal.”</p><p>The president almost immediately contradicted those comments, telling reporters later Wednesday he had decided to pause the tariffs because “people were jumping a little bit out of line. They were getting yippy,” also saying his plan to pause the tariffs “probably came together early this morning,” after the tariffs had taken effect (flip-flop No. 7).</p><p>April 9, 3 p.m. EDTTrump also told reporters in the Oval Office he still intends to impose additional tariffs on pharmaceuticals as well as semiconductor chips, saying the U.S. will build a chips factory that “will be one of the largest plants in the world” and everything needed in order to approve it will be “done in a matter of months.”</p><p>April 10, 11 a.m. EDTTrump stood by his tariff policy as markets went down again after an initial rally in response to the 90-day pause, saying at a Cabinet meeting, “We think we’re in very good shape. We think we’re doing very well. Again, there’ll be a transition cost and transition problems, but in the end, it’s going to be a beautiful thing.”</p><p>April 11, 5 p.m. EDTTrump told reporters on Air Force One he thinks his 10% baseline tariff rate is likely “the floor,” though there “could be a couple of exceptions,” also saying he’s “very comfortable now” with at least 145% tariffs on Chinese imports while still leaving room for negotiations.</p><p>April 11, 10:36 p.m. EDTU.S. Customs and Border Protection issued “Reciprocal Tariff Exclusion” guidance saying smartphones, computers and other electronic devices were now exempt from the tariffs, countering the previous statements from Trump and his officials suggesting they wanted to move such manufacturing to the U.S. (flip-flop No. 8).</p><p>April 12The White House said in response to the exemption on tech products the administration still wants to move manufacturing of those products to the U.S., with Leavitt saying in a statement, “President Trump has made it clear America cannot rely on China to manufacture critical technologies such as semiconductors, chips, smartphones, and laptops … these companies are hustling to onshore their manufacturing in the United States as soon as possible.”</p><p>April 13, 9 a.m. EDTLutnick told ABC’s “This Week” the exemption on semiconductors and other goods is only temporary, claiming Trump is still crafting tariffs on tech goods and pharmaceuticals that will be rolled out “in probably a month or two.”</p><p>April 13, 3:36 p.m. EDTTrump claimed on Truth Social that contrary to the customs announcement, there was “no Tariff ‘exception’ announced on Friday” and the tariffs on smartphones and other goods are “just moving to a different Tariff ‘bucket,’ adding his administration will be “taking a look at Semiconductors and the WHOLE ELECTRONICS SUPPLY CHAIN in the upcoming National Security Tariff Investigations” (flip-flop No. 9).</p><p>Later in the day, Trump told reporters aboard Air Force One that he would soon announce tariff rates for chips, semiconductors and pharmaceuticals, also promising that tariffs would be restored for electronics “very soon,” but he would also “talk to companies,” arguing, “You have to show a certain flexibility. Nobody should be so rigid.”</p><p>April 14Trump told reporters he would consider pausing his tariffs on automobiles as he noted some automakers moved production to the U.S., saying, “I’m looking at something to help some of the car companies, where they’re shifting to parts that were made in Canada, Mexico and other places.”</p><p>April 17, 4 p.m. EDTTrump told reporters his administration is “going to make a deal with everybody” on trade and he thinks the deals will be “concluded” “over the next three or four weeks,” adding, “At a certain point, if we don’t make a deal we’ll just set a limit, we’ll set a tariff … and we’ll say, ‘Come in and shop.’” </p><p>Trump also told reporters that day he’ll “make a very good deal with China” and he’s “100 percent” sure the U.S. can make a trade deal with the European Union, adding he’s “in no rush” to announce deals with specific countries.</p><p>April 22, 4 p.m. EDTTrump told reporters he won’t play “hard ball” with China in their tariff negotiations and floated that he could lower his punishing 145% tariff rate on Chinese imports, saying it is “very high” and the rate will “come down substantially, but it won’t be zero”—contradicting his previous comments that he’s “comfortable” with where the tariffs now stand (flip-flop No. 10).</p><p>April 23, 11 a.m. EDTBessent countered Trump’s comments about lowering China’s tariffs, telling reporters Trump had not made any offer to unilaterally lower the tariff rate on Chinese goods—though he added, “I don’t think either side believes that the current tariff levels are sustainable, so I would not be surprised if they went down in a mutual way.”</p><p>The president and his treasury secretary also conflicted on whether the U.S. is already in trade negotiations with China: Trump told reporters his administration is “actively” talking with China, while Bessent told reporters in a separate appearance that “both sides are waiting to speak to the other,” adding when asked if that meant the two countries aren’t in trade discussions, “Not yet.”</p><p>April 29Trump signed an executive order exempting companies paying the 25% tariff on imported cars and auto parts from paying other tariffs, such as those on steel and aluminum (flip-flop No. 11).</p><p>Companies will also receive a reimbursement on tariffs for imported parts equal to up to 3.75% of the value of a new car in the first year and 2.5% of the car’s value in the second year before it’s phased out, multiple outlets reported.</p><p>May 6, 12 p.m. EDTTrump tamped down hopes of imminent trade deals with other countries in comments to reporters, complaining about people asking, “How many deals are you signing this week?” and suggesting his officials were misspeaking about wanting to sign deals with every country who asks—despite previously saying he would make deals with “everybody.” (flip-flop No. 12).</p><p>“I think my people haven’t made it clear, we will sign some deals,” Trump told reporters, “but much bigger than that is we’re going to put down the price that people are going to have to pay to shop in the United States. Think of us as a super luxury store, a store that has the goods.”</p><p>The president also suggested to reporters he did not feel any urgency to start negotiating with China, claiming the U.S. is “losing nothing” by not trading with Beijing and answering “no” when asked if he would bring the tariff rate on Chinese goods down in order to start negotiations.</p><p>May 6, 7 p.m. EDTShortly after Trump’s comments, however, Bessent and Greer said they would participate in discussions with Chinese officials in Switzerland over the weekend—which Beijing claims the Trump administration requested, though Trump later denied that (flip-flop No. 13).</p><p>May 8Trump announced his administration’s first trade deal—or at least the framework for one—which was made with the United Kingdom, and still leaves the 10% baseline tariff on U.K. imports in place.</p><p>May 9, 7:26 a.m. EDTTrump floated a potential 80% tariff rate on Chinese imports, writing on Truth Social, “80% Tariff on China seems right! Up to Scott B.”—after floating to reporters the day before he was now open to lowering tariffs on China, saying that if negotiations over the weekend went well, “You know [the tariff rate is] coming down” (flip-flop No. 14).</p><p>May 9, 1 p.m. EDTLeavitt told reporters Trump’s 10% tariffs on foreign goods will be permanent even after the Trump administration completes trade deals with other countries, saying the president is “determined to continue with that 10% baseline tariff.”</p><p>May 12After suggesting Sunday they had reached some kind of agreement, Bessent and Chinese officials announced Monday a 90-day pause on the worst of the two countries’ tariffs on the other’s goods, with the U.S. lowering its tariff rate on most Chinese goods to a combined 30%, which includes both the “Liberation Day” tariffs and the 20% tariffs the Trump administration had previously imposed—and is far below the 80% figure Trump floated (flip-flop No. 15).</p><p>May 16Trump suggested he will reimpose new tariff rates without completing trade deals with other countries—despite the White House claiming he would offer trade deals to “each and every country that calls up this administration to strike a deal”—telling reporters, “We have ... 150 countries that want to make a deal, but you’re not able to see that many countries” (flip-flop No. 16).</p><p>The president suggested Lutnick and Bessent will be “sending letters out” in the coming weeks to foreign governments that the administration won’t reach trade deals with, in which the Trump administration will “be telling people what they’ll be paying to do business in the United States.”</p><p>May 18Bessent told CNN the Trump administration is largely focused on negotiating with just 18 key trading partners and backtracked on Trump’s claim letters imposing new tariff rates will be sent out to other countries the Trump administration doesn’t have time to negotiate with, telling CNN and “Meet the Press” that letters will only be sent to nations who don’t negotiate in “good faith” informing them their tariffs will return to their previous April 2 rates (flip-flop No. 17).</p><p>Bessent also suggested for the first time that the Trump administration could impose blanket tariff rates on different global regions, such as central America or parts of Africa.</p><p>May 19Hassett claimed Monday to Fox Business the Trump administration has a “number of deals” on the table that could be finalized over the next two weeks, suggesting those could serve as a template for other countries’ trade deals with the U.S., and echoed Bessent in suggesting the Trump administration will reimpose its April 2 tariff rates on any countries who don’t reach deals.</p><p>May 23, 7:19 a.m. EDTAfter previously reversing his tariffs on Apple products, Trump threatened 25% tariffs on iPhones in an early morning Truth Social post, saying he will impose the tariff on Apple if its phones being sold in the U.S. are not “manufactured and built in the United States, not India, or anyplace else” (flip-flop No. 18).</p><p>May 23, 7:43 a.m. EDTThe president also threatened new 50% tariffs on imports from the European Union starting June 1, writing on Truth Social that the bloc “has been very difficult to deal with” and claiming, “Our discussions with them are going nowhere!” (flip-flop No. 19).</p><p>May 23, 9:30 a.m. EDTAfter Hassett previously suggested that deals with other countries could be announced imminently in the coming weeks, Bessent offered a more pessimistic view, telling Fox News only that he expects there to be “more and more” deals announced “as we approach the end of the 90-day period,” which doesn’t expire until July (flip-flop No. 20).</p><p>May 25Following a call with European Commission President Ursula von der Leyen, Trump said he would postpone imposing 50% tariffs on the European Union to July 9, stating he would “rapidly get together” with European leaders to “see if we can work something out” (flip-flop No. 21).</p><p>May 28Trump was asked about criticism he’s “chicken[ed] out” by backing down from the harsher tariff rates he imposed, which the president called a “nasty question,” claiming about his decision to set high tariff rates and then lower them, “It’s called negotiations.”</p><p>“You set a number” so it will go down, Trump said, adding he thought the 145% tariff rate that was in place for Chinese imports was “high” and suggesting he set the 50% tariff rate on the EU in order to get it to the negotiating table—with Trump going on to muse that he’ll face criticism calling him “chicken” if he negotiates with Europe and gets its tariffs down to a more “reasonable” rate.</p><p>May 30Trump announced a raise on steel tariffs from 25% to 50% during an event in Pennsylvania, saying the new rate would go into effect on June 4 (flip-flop No. 22).</p><p>June 4The steel and aluminum tariff hike took effect, raising import fees on those products to 50%—except for those from the U.K., which will faces a lower 25% tariff rate thanks to the trade deal the country’s government reached with the Trump administration.</p><p>June 11Bessent testified to House lawmakers it’s “highly likely” Trump will extend his tariff pause in order to complete negotiations with trading partners, claiming the administration is prepared to “roll the date forward,” while Trump told reporters later that day he wouldn’t rule out an extension. (flip-flop No. 23)</p><p>June 27Trump said his administration can “do whatever we want” on the tariff deadline, saying, “We could extend it, we could make it shorter,” and claimed the White House would send out letters to other countries “over the next week and a half or so, or maybe before,” in which the administration is “just going to tell them what they have to pay to do business in the United States.”</p><p>June 30Bessent then suggested tariff rates for any countries who don’t reach deals could return to the initial April 2 levels, telling Bloomberg TV that other countries negotiating with the administration “should be aware that if we can"t get across the line because they are being recalcitrant, then we could spring back to the April 2 levels.”</p><p>July 2Trump announced the U.S. had reached a trade deal with Vietnam, in which goods from the country will receive a 20% tariff, with 40% for goods that pass through Vietnam from other countries like China.</p><p>July 3Bessent told Bloomberg TV there are likely to be a “flurry” of deals made before the July 9 deadline and that approximately 100 countries would receive a 10% tariff rate on their goods, which Reuters notes would be fewer than the number of countries that were slated to get 10% tariffs before the 90-day pause.</p><p>Trump told reporters he would start sending out letters Friday to other countries imposing new tariff rates, which he said would range from “maybe 60 or 70% tariffs” to “10 or 20%”—suggesting he could pose significantly higher tariff rates for some countries than what he first proposed on “Liberation Day,” when rates maxed out at 50% (flip-flop No. 24).</p><p>The president also suggested countries would have to start paying their new tariff rates on August 1 “in pretty much all cases,” rather than when the 90-day pause is set to expire July 9.</p></p><p>Get Forbes Breaking News Text Alerts: We’re launching text message alerts so you"ll always know the biggest stories shaping the day’s headlines. Text “Alerts” to (201) 335-0739 or sign up here.</p>What Does ‘taco Trump’ Mean?<p>Trump’s frequent flip-flopping on tariffs—and taking rates down after the markets get spooked—has earned him the nickname of “TACO Trump” on Wall Street, which stands for “Trump always chickens out.” Trump has called the nickname “nasty” and White House spokesperson Kush Desai decried it as “asinine” in a statement to The Washington Post. The moniker and belief that Trump will back off his worst tariff threats has stuck around, however, with Deutsche Bank strategists on Tuesday raising their forecasts for the S&P 500 index based on the belief Trump has “already relented” on tariffs and there will be “further relents” in the future. Democrats have also seized on the “TACO Trump” nickname, with the Democratic National Committee parking a taco truck—adorned with a poster of Trump wearing a chicken suit—outside the Republican National Committee’s D.C. office.</p><p></p>Crucial Quote<p>“You know, if I set a number, a ridiculous high number, and I go down a little bit, a little bit, they want me to hold that number,” Trump told reporters in May as he railed against the “TACO Trump” name and the suggestion he was “chickening out” by lowering tariff rates. Referring to the 145% tariff rate previously in place on Chinese goods, Trump continued, “You know, 145% tariff, even I said, ‘Man, that really got up … Whoa, that’s high. That’s high.’”</p>Can The Courts Stop Trump’s Tariffs?<p>Two courts have already ruled that Trump’s “Liberation Day” tariffs are unlawful and the president exceeded his authority by imposing them. The tariffs remain in place, however, as appeals courts then put those rulings on hold while the litigation plays out. The appeals court is scheduled to hold oral arguments on July 31 on the most sweeping lawsuit over the tariffs, so there won’t be any changes to the tariffs’ legality before that date. Plaintiffs in one of the lawsuits over the tariffs asked the Supreme Court to take up the issue on an urgent timeline, requesting that justices hear oral arguments over the tariffs’ legality as soon as their next term begins, or even sooner. The court rejected that request, however, so while it’s still possible the Supreme Court will ultimately decide whether Trump’s tariffs are legal, they won’t be doing so within the coming months.</p>What We Don’t Know: Will There Be More Tariff Changes?<p>Trump and other officials still haven’t yet suggested what specific countries could still reach deals with the Trump administration or have high tariff rates imposed on them, and it’s ultimately still unclear what the tariff rates will look like when the 90-day deadline runs out next week. The trade deals aren’t expected to completely get rid of tariffs on any country, however, as Lutnick claimed after the trade deal with the U.K. was announced that for countries that have trade deficits with the U.S., “The best they can do is 10%—most likely they’ll be higher.” While Trump has threatened tariffs on iPhones and EU goods, it remains to be seen if those will take effect and how long they’ll stay in effect, and whether more goods could be either tariffed or exempted from the tariffs. No tariffs have yet been imposed on critical imports like semiconductors, as Lutnick and Trump claimed would be implemented, but they still could impose them in the future. Democratic lawmakers have asked the Trump administration to exempt baby products from its tariffs, which Bessent testified was “under consideration.” </p>Chief Critic<p>Democrats have decried the constant changes in Trump’s tariff policy, which they argue further harm the economy. “The White House has no idea what it’s doing on tariffs and keeps flip flopping. Lutnick now says the tariff exemptions on, for example iPhones, are temporary. Why even do an exemption if you’re going to reverse it soon?” Rep. Ted Lieu, D-Calif., said on X on April 13. The White House “has no strategy, and is rapidly losing credibility.”</p>Key Background<p>Trump has long touted tariffs as a cornerstone of his policy agenda, making them a centerpiece of his campaign and repeatedly pledging to put them in effect. His flip-flopping on the “Liberation Day” tariffs comes after Trump previously shifted his stance in how he handled tariffs on Mexico and Canada, initially announcing hours after his inauguration that he would impose 25% tariffs on Canada and Mexico on Feb. 1, which briefly took effect before he ultimately paused them for 30 days on Feb. 3. The tariffs then took effect again on March 4, though Trump later paused tariffs on automobiles and exempted many products from the tariffs on March 6. Trump has charged forward with his tariff plans despite longstanding warnings from economists that doing so would raise prices for American consumers and harm the economy, which have played out as the tariffs have taken effect, roiling the stock market and leading economic experts to warn of a looming recession.</p>Further ReadingForbesWill Trump Negotiate Tariffs? Countries Start Using 90-Day Pause To Reach Deals With White House<small>By Alison Durkee</small>ForbesTrump’s Tariffs On China Are Now At Least 145%, White House Confirms—Higher Than He Previously Claimed<small>By Alison Durkee</small>ForbesStocks Shoot To One Of Biggest Gains Ever As Trump Announces 90-Day Tariff Pause<small>By Derek Saul</small>ForbesForbes Recession Tracker: JPMorgan’s Jamie Dimon Says Recession ‘Probably’ Coming<small>By Derek Saul</small> See Trump’s Major Tariff Flip-Flops—As President Floats 70% Tariff Rates	查看 28160	福布斯	2025-01-01 00:00:00 2025-07-05 03:09:41	word
3197709	无图 <p>Topline<p>President Donald Trump’s net approval rating is three points below where it was at this point during his first term, according to the latest survey, though a second survey released earlier this week shows a significant improvement in Americans’ view of his job performance linked to a cease-fire agreement between Israel and Iran. </p><p></p><fbs-accordion><p>President Donald Trump speaks to the press before boarding Marine One on the South Lawn of the White ... More House on Friday April 25, 2025.</p></fbs-accordion><small>The Washington Post via Getty Images</small></p>Timeline<p><p>July 2-16 net approval rating: Trump’s approval rating stands at 40% in a Yahoo/YouGov poll of 1,597 U.S. adults conducted June 26-30 (margin of error 3.2), a four-point decrease from the groups’ March poll, while 56% disapprove.</p><p>Trump’s -16 net approval rating is three points worse than it was at this point during his first term, according to YouGov data, while former President Barack Obama had a +14 net approval rating and former President Joe Biden had a +7 approval rating halfway through their first years in office.</p><p>June 30-3: Trump’s disapproval rating improved from 53% to 50% in Morning Consult’s weekly poll compared to its survey last week, while his approval rating increased from 45% to 47% (the survey of 2,202 registered voters was conducted June 27-29 and has a two-point margin of error).</p><p>The rating was Trump’s best since May and coincides with an uptick in respondents’ approval of his handling of national security issues since last week, following a cease-fire agreement between Israel and Iran. </p><p>June 23-16: Trump’s approval rating dipped one point, to 41%, in a Reuters/Ipsos survey of 1,139 U.S. adults taken June 21-23 from its June 11-16 survey, with 57% disapproving (the latest poll has a 3-point margin of error).</p><p>The poll also found a plurality, 45%, of U.S. adults surveyed do not support the airstrikes on Iranian nuclear facilities over the weekend, while 36% support them and 19% said they were unsure.</p><p>June 17-13: An Economist/YouGov poll found 54% of voters disapprove of Trump’s job performance, while 41% approve (the survey of 1,512 U.S. adults was conducted June 13-16 and has a 3.3-point margin of error). </p><p>The survey also found Trump’s approval rating is underwater when it comes to his handling of Iran, with 37% approving and 41% disapproving, while 60% of respondents, including 53% of 2024 Trump voters, say the U.S. should not get involved in the conflict between Israel and Iran, as Trump has repeatedly threatened U.S. military intervention.</p><p>June 17-17: Trump’s net approval rating improved two points in the latest Pew Research survey taken June 2-8, compared to the group’s last poll in April, with the latest survey showing 41% approve and 58% disapprove (the survey of 5,044 U.S. adults has a 1.6-point margin of error).</p><p>June 16-6: Trump’s net approval rating dipped two points in Morning Consult’s latest weekly survey of 2,207 registered U.S. voters (margin of error 2), with 46% approving and 52% disapproving of his job performance, numbers the pollster notes are on par with his ratings in April and early May, during a downward spiral that coincided with his shock tariffs. </p><p>June 16-12: Trump’s approval rating remained stagnant at 42% in a Reuters/Ipsos poll taken June 11-16, compared to the groups’ May poll, but his disapproval rating increased two points, to 54%, in the latest survey of 4,258 U.S. adults (margin of error 2).</p><p>June 16-4: Trump’s approval rating declined one point, from 47% to 46%, in the latest Harvard CAPS/Harris survey, compared to the groups’ poll taken last month, while 50% of respondents said they disapprove of his job performance (the online survey of 2,097 registered voters was conducted June 11-12 and has a 2.2-point margin of error).</p><p>Trump’s approval rating in the Harvard CAPS/Harris poll has dropped every month since February, when he had a 52% approval rating. </p><p>Trump’s approval rating for nine separate issues also declined from May to June, with less than half of voters saying they approve of each of them, with tariffs and trade policy receiving the lowest marks (41%) and immigration receiving the highest (49%).</p><p>June 15-10 net approval rating: More than half, 55%, of voters said they disapprove of Trump’s job performance and 45% said they approve in an NBC survey of 19,410 U.S. adults conducted May 30-June 10 (margin of error 2.1).</p><p>June 11-16: Trump’s approval rating dipped three points, to 38%, in Quinnipiac University’s latest poll conducted June 5-9 among 1,265 registered voters (margin of error 2.8), compared to its previous poll in April, when he had a 41% approval rating, while his disapproval rating dropped one point, to 54%.</p><p>The survey also found more voters, 57%, have an unfavorable opinion of Musk, while 53% have an unfavorable opinion of Trump, though more than half, 53%, oppose Trump’s “One Big Beautiful Bill Act” that was the source of Musk’s rant against Trump last week.</p><p>June 9-10: A CBS/YouGov poll conducted June 4-6 found 45% approve of Trump’s job performance, while 55% disapprove (the poll of 2,428 U.S. adults has a, 2.4-point margin of error). </p><p>In a separate, one-day YouGov survey conducted June 5, amid Trump’s feud with Musk, the majority of 3,812 U.S. adults (52%) said they side with neither Musk nor Trump, while 28% said they side with Trump, 8% said they side with Musk and 11% said they aren’t sure. </p><p>June 9-4 net approval rating: Trump’s approval rating improved one point, to 47%, in Morning Consult’s weekly poll, while 51% disapprove of his job performance for the third week in a row (the survey of 1,867 registered U.S. voters has a 2-point margin of error). </p><p>Trump’s feud with Musk doesn’t appear to have dented his approval ratings in the first two polls that overlapped with their public spat—though it’s unclear how Americans perceive his response to protests in Los Angeles over his aggressive deportation push, as no reliable polling has been released since the protests began over the weekend. </p><p>June 4-4: For the first time in two months, less than half (49%) of U.S. adults surveyed by the Economist/YouGov disapprove of Trump’s job performance, compared to 45% who strongly or somewhat approve, representing a significant improvement from the groups’ April 19-22 poll, when Trump had a net -13 approval rating (the latest poll of 1,610 U.S. adults conducted May 30-June 2 has a 3-point margin of error). </p><p>June 2-5: Trump’s approval rating dropped from 48% to 46% in this week’s Morning Consult poll compared to its previous survey, while his disapproval rating was stagnant at 51% (the May 30-June 2 poll of 2,205 registered voters has a 2-point margin of error).</p></p>Surprising Fact<p>The share of registered voters who say they identify with Trump’s Make America Great Again movement has increased sharply during Trump’s second term, according to NBC polling. A total of 36% of 1,000 registered voters polled March 7-11 said they consider themselves part of the MAGA coalition, compared to a 23% average in NBC’s March polling and 27% in the network’s 2024 polls (the most recent poll has a 3.1-point margin of error).</p>Big Number<p>43%. That’s Trump’s average approval rating so far during his second term, higher than his 41% average approval rating throughout the duration of his first term, according to Gallup.</p><p></p>What Was Biden’s Approval Rating At This Point In His Term?<p>56%, according to Gallup’s June 1-18 average.</p>Key Background<p>In the fifth month of his term, Trump launched a military strike against Iran’s nuclear facilities, leading to a cease-fire agreement during Iran and Israel. Congress also approves his signature policy legislation that would enact some of his most significant campaign promises, including an extension of his 2017 tax cuts and tighter border controls, while his mass deportation push has prompted protests and numerous lawsuits. Trump’s approval rating has declined since the start of his term, coinciding with his wide-ranging “Liberation Day” tariffs he announced on April 2 against nearly all U.S. trading partners, though he has largely backed off most of the levies. Other big moments in Trump’s presidency include the leak of U.S. military attack plans to Atlantic editor-in-chief Jeffrey Goldberg and his efforts to slash the federal workforce with the help of the Elon Musk-led Department of Government Efficiency. He’s hosted several world leaders for explosive Oval Office sit downs, including South African President Cyril Ramaphosa, who Trump argued with over false claims that white farmers in the country were victims of a genocide, and Ukrainian President Volodymyr Zelenskyy in February. Trump and Vice President JD Vance berated the Ukrainian president in front of the media. </p>Further Reading <p>Here’s Where Medicaid Cuts Stand In Trump’s Mega-Bill—As GOP Senators Want To Cut Even More (Forbes)</p><p>Trump Announces Reciprocal Tariff Rates—54% For China, 20% On EU (Forbes)</p><p>Iran Calls Trump Claim They Reached Out ‘Despicable’ (Forbes)</p> Trump Approval Rating: Down 4 Points In Latest Survey	查看 9236	福布斯	2025-01-01 00:00:00 2025-07-05 03:09:41	word
3197708	无图 <p>Topline<p>President Donald Trump said Friday he didn’t know the term “Shylock” was antisemitic, after he was slammed by groups including the Anti-Defamation League for using the word during a campaign rally Thursday night.</p><p></p><fbs-accordion><p>President Donald Trump arrives at a rally at the Iowa State Fairgrounds on July 3 in Des Moines, ... More Iowa.</p></fbs-accordion><small>Copyright 2025 The Associated Press. All rights reserved</small></p>Key Facts<p><p>Trump was asked Friday about his use of the term “Shylock” during his campaign rally in Iowa, when the president said about his domestic policy bill, “Think of that: no death tax, no estate tax, no going to the banks and borrowings from in some cases a fine banker. And in some cases, Shylocks and bad people.”</p><p>The term “Shylock” has been widely recognized as antisemitic, with the Anti-Defamation League saying Friday it “evokes a centuries-old antisemitic trope about Jews and greed that is extremely offensive and dangerous.”</p><p>Trump, asked about his use of the term, claimed to reporters Friday he was not aware of its antisemitic connotations.</p><p>“I’ve never heard it that way. To me, Shylock is somebody that’s a money lender at high rates,” Trump told reporters after getting off Air Force One, claiming the reporters “view [the term] differently than me.”</p><p>The president’s comments come after he had come under criticism for his use of the term, with the Anti-Defamation League saying it was “very troubling and irresponsible” and Amy Spitalnick, CEO of the Jewish Council for Public Affairs, saying Trump using “Shylock” was “deeply dangerous” and “not an accident,” claiming the president has previously “normalized antisemitic tropes and conspiracy theories.”</p></p>Chief Critic<p>The Anti-Defamation League said Trump’s use of “Shylock” “underscores how lies and conspiracies about Jews remain deeply entrenched in our country,” according to a statement Friday morning on X. “Words from our leaders matter and we expect more from the President of the United States.”</p>Why Is The Term “shylock” Antisemitic?<p>The term “Shylock” is originally from William Shakespeare’s play “The Merchant of Venice,” which features a character named Shylock, a Jewish money lender. Shylock gives the main character Antonio a loan, demanding a “pound of flesh” if he cannot repay his debt, and ultimately seeks that punishment when Antonio does not pay. The play has long been a source of debate over whether it’s antisemitic, and Smithsonian Magazine notes it was frequently performed in Nazi Germany. The character of Shylock has long been considered to reflect stereotypes about Jewish people being “greedy” and the term has been recognized as antisemitic as a result, with Florida passing legislation in 2009 that removed “Shylock” and “shylocking” from state law.</p>Surprising Fact<p>Former President Joe Biden also sparked controversy for using “Shylock” in 2014, when speaking about members of the military his son knew in Iraq who needed legal help back home. “People would come to him and talk about what was happening to them at home in terms of foreclosures, in terms of bad loans that were being — I mean, these Shylocks who took advantage of these women and men while overseas,” Biden said in a speech. The then-vice president later apologized for his use of the term after it similarly garnered criticism, with the Anti-Defamation League saying Biden “should have been more careful.”</p><p></p>Key Background<p>Trump’s use of the term “Shylock” comes as the president and his allies have faced accusations of antisemitism in the past. Trump has had various connections to a number of people who identify as white supremacists, and the president came under fire after his former chief of staff, John Kelly, wrote in his memoir that Trump once told him Adolf Hitler “did a lot of good things.” Former ally Elon Musk was also embroiled in controversy after raising his hand in a way that mimicked a Nazi salute at Trump’s inauguration. At the same time, the Trump administration has taken harsh action against U.S. universities and student activists over perceived antisemitism, as the Trump administration has maintained the U.S.’ support for Israel in its war against Hamas. The White House has taken such steps as attempting to revoke visas for pro-Palestinian activists and levying punishments on schools like Harvard and Columbia Universities for perceived failures to combat antisemitism.</p>Further Reading<p>Denouncing Antisemitism, Trump Also Fans Its Flames (New York Times)</p> Trump Says He Didn't Know 'Shylock' Was Antisemitic Term	查看 4590	福布斯	2025-01-01 00:00:00 2025-07-05 03:09:41	word
3197707	无图 <p>Topline<p>Elon Musk suggested a third political party, which he’s floated as the “America Party,” will hold significant sway in the Senate and House under slim Republican margins, as he aspires to form a competing party after breaking with the GOP over President Donald Trump’s signature policy bill. </p><p></p><fbs-accordion><p>Elon Musk during a news conference with President Donald Trump on May 30, 2025 inside the Oval ... More Office at the White House in Washington. (Photo by Tom Brenner For The Washington Post via Getty Images)</p></fbs-accordion><small>The Washington Post via Getty Images</small></p>Key Facts<p><p>Musk tweeted a poll to his X followers Friday asking if they want “independence from the two-party (some would say uniparty) system.”</p><p>In a subsequent tweet, he said “one way to execute on this would be to laser-focus on just 2 or 3 Senate seats and 8 to 10 House districts,” noting the party could have significant sway under a slim majority that “would be enough to serve as the deciding vote on contentious laws, ensuring that they serve the true will of the people.” </p><p>Friday’s tweets are the latest threats from Musk this week to form a new political party, as he feuded with Republicans over Trump’s signature policy bill that passed the House Thursday: “If this insane spending bill passes, the America Party will be formed the next day,” he wrote Monday.</p></p>Big Number<p>55%. That’s the share of Americans who have an unfavorable view of Musk, compared to 37% who hold a positive opinion, according to a dashboard from statistician Nate Silver’s Silver Bulletin aggregating hundreds of polls on Musk. </p>Key Background<p>Musk and Trump have engaged in a heated back-and-forth over Musk’s criticism of what’s known as the “One Big Beautiful Bill Act that passed the House Thursday and now heads to Trump’s desk for signage. Musk—who spearheaded cost-cutting measures at the Department of Government Efficiency—took issue with the bill over the estimated $3.3 trillion it would add to the deficit over the next 10 years. Trump has responded to Musk’s threats by making veiled threats to revoke the government subsidies his companies receive and to “look into” deporting him. </p>Further Reading <p>House Passes Trump’s Signature Spending Bill, Meeting July 4 Deadline (Forbes)</p><p></p><p>Elon Musk (And Tesla) Became Much More Unpopular —As Unfavorability Soars To 55% (Forbes)</p><p>Musk-Trump Feud Timeline: Trump Goes After Tesla CEO Over Bill Criticism (Forbes)</p> Elon Musk Suggests His New Political Party Will Target Key Senate, House Seats	查看 2525	福布斯	2025-01-01 00:00:00 2025-07-05 03:09:41	word
3197706	无图 <p>Topline<p>The Social Security Administration (SSA) and President Donald Trump claimed Thursday the president’s domestic policy bill will “eliminate” taxes on Social Security, but that’s not quite accurate: while the bill does give a new tax break for seniors, it’s purposely not tied to their benefits—though the legislation still could speed up Social Security’s insolvency.</p><p></p><fbs-accordion><p>President Donald Trump holds a rally at Iowa State Fairgrounds on July 3 in Des Moines, Iowa.</p></fbs-accordion><small>Copyright 2025 The Associated Press. All rights reserved.</small></p>Key Facts<p><p>The SSA sent a mass email to Social Security recipients celebrating the passage of the spending bill, according to The Washington Post and various social media reports, which included a press release that claims the bill “eliminates federal income taxes on Social Security benefits for most beneficiaries.”</p><p>Trump also repeated claims Thursday evening that the bill eliminates taxes on Social Security—a campaign promise he made before the election—saying at a rally in Iowa that the bill delivered “no tax on Social Security for our great seniors.”</p><p>The claims echo a campaign promise of Trump’s that would be hard to actually enact, since changes to Social Security benefits must get 60 votes in the Senate.</p><p>In actuality, the bill does not make any direct changes to taxing of Social Security benefits, as senators are not allowed to make changes to Social Security through the reconciliation process, which was used to pass the spending bill and allows budget-focused policies to pass with only a simple majority of votes.</p><p>The bill does provide an enhanced tax credit for senior citizens ages 65 and older, which provides a maximum tax credit of $6,000 through 2028 that’s calculated based on the taxpayer’s income.</p><p>Though the group affected by that tax credit significantly overlaps with Americans who receive Social Security benefits, the tax credit is not tied to Social Security, and will not affect any Social Security recipients younger than age 65, such as people with disabilities.</p><p>The White House and Social Security Administration have not yet responded to requests for comment.</p></p>What To Watch For<p>Trump is expected to sign the spending bill into law at 5 p.m. EDT Friday, after the House approved the final version of the bill on Thursday.</p>How Does The Senior Tax Credit In Trump’s Bill Work?<p>The tax credit in Trump’s policy bill applies specifically to taxpayers who turned 65 during that tax year or are older, and who have a Social Security number. Those taxpayers are given a $6,000 tax credit per year through 2028 if they make $75,000 or less after other tax deductions, or $150,000 in the case of married couples filing jointly. For those earning more than $75,000 annually, the $6,000 tax credit goes down by 6% of whatever the taxpayer earns above $75,000, or $150,000 filing jointly. That means if someone earns $100,000 after other deductions, for instance, they would subtract 6% of $25,000 ($1,500) from their $6,000 tax credit. That math means no one who earns more than $175,000 annually, or $250,000 filing jointly, will receive the deduction.</p>Can Trump Still Get Rid Of Taxes On Social Security Payments?<p>Trump has promised to eliminate taxes on Social Security benefits since before the election, but in order to do so he would have to get 60 votes in the Senate, which is unlikely given Republicans’ narrow majority. Trump’s proposal to eliminate Social Security taxes has been controversial, as experts predict it would make Social Security run out of money faster. The nonpartisan Committee for a Responsible Federal Budget (CRFB) projected in 2024 that exempting taxes on benefits would result in Social Security and Medicare receiving $1.6 trillion less in revenue between 2026 and 2035 than if the current rules stayed in place. That would cause Social Security to become insolvent in 2032, followed by Medicare in 2030—one and six years sooner than currently projected, respectively. </p>How Will Trump’s Policy Bill Impact Social Security?<p>The spending bill’s provisions will still speed up Social Security’s insolvency, the CRFB projects, even though it doesn’t affect Social Security directly. The legislation will make Social Security and Medicare run out of money in 2032, one year sooner than had previously been projected, the CRFB predicts, based on other tax cuts in the bill that reduce the amount of revenue that’s used to fund Social Security and Medicare.</p><p></p>Which Policy Is Better For Taxpayers?<p>The policy bill’s senior tax credit is actually likely more beneficial for many taxpayers than getting rid of taxes on Social Security payments, according to the Tax Foundation, a center-right think tank. While eliminating taxes on Social Security payments would most benefit higher earners, lower-middle-class and middle-class seniors in the 20%-40% income percentiles save more money through the $6,000 tax credits. The Tax Foundation projects people in those middle percentiles would see their after-tax income go up by between 0.7% and 0.9% after the tax credit, versus only going up by 0.1% to 0.4% from a tax cut on Social Security payments. The top 20% of earners, who aren’t eligible for the $6,000 tax credit, meanwhile, will only see their income rise by less than 0.05%, versus the 0.6% bump in after-tax income they could have gotten without taxes on Social Security. The bottom 20% of earners are largely unaffected by either policy, as they already aren’t taxed on Social Security payments and largely have their tax liability wiped out through other deductions before the senior tax credit would apply.</p>Key Background<p>Changes to Social Security have long been considered a “third rail” in politics, and Trump repeatedly vowed ahead of the election that he would not make any changes to people’s Social Security benefits. Since taking office, Social Security has continued to be a source of concern, however, as Trump and former advisor Elon Musk falsely claimed the SSA was subject to widespread fraud and abuse and imposed staffing cuts that reportedly hamstrung the agency. Trump’s vow to eliminate taxes on Social Security payments was one of several tax-related pledges the president made on the campaign trail, along with a “no tax on tips” pledge and a proposal to eliminate taxes on overtime. While the policy bill did not include the Social Security tax provision, it did deliver on Trump’s other campaign promises, exempting tax on tips for up to $25,000 and taxes on overtime for up to $12,500 for single filers. Those policies will both phase out in 2028, like the senior tax credits.</p>Further ReadingForbesHouse Passes Trump’s Signature Spending Bill, Meeting July 4 Deadline<small>By Zachary Folk</small>ForbesSenate Passes Trump’s Megabill: Here’s What’s In And Out<small>By Sara Dorn</small>ForbesHow Trump Could Affect Social Security And Medicare—Group Warns Funds Could Run Out In 6 Years Under His Plans<small>By Alison Durkee</small>ForbesHere’s What We Know About Trump And Musk’s Social Security Plans—As Agency Reportedly Mulls Cutting Phone Services<small>By Alison Durkee</small> Does Trump Spending Bill Eliminate Social Security Taxes? What To Know	查看 7250	福布斯	2025-01-01 00:00:00 2025-07-05 03:09:41	word
3197705	无图 <p>Every year on the Fourth of July, we gather under the banner of celebration—barbecues, parades, fireworks, and the familiar ritual of patriotic cheer. Yet amid the fun and games, we should also pause to remember why we celebrate. When the Founders signed the Declaration of Independence nearly two and a half centuries ago, they did not merely separate themselves from a distant king. They redefined the purpose of government itself. In place of royal decrees, they asserted natural rights, envisioning self-government as a preservation of liberty that would last generations.</p><p>This vision remains the foundation of what it means to be American. And no modern figure championed those principles more clearly than Barry Goldwater.</p><p>In The Conscience of a Conservative, Senator Goldwater articulated a vision of limited government that the signers of the Declaration would have applauded. He wrote, “The legitimate functions of government are actually conducive to freedom. Maintaining internal order, keeping foreign foes at bay, administering justice, removing obstacles to the free interchange of goods—the exercise of these powers makes it possible for men to follow their chosen pursuits with maximum freedom.” Goldwater believed that government should focus solely on essential tasks, preserving the freedom of individuals to pursue their own goals.</p><p>Whether we are debating school choice, regulatory reform, or healthcare policy, the question is the same: Does this action empower individuals and communities or does it centralize control in distant agencies with little accountability?</p><p>The Goldwater Institute believes that the answer to most policy problems is not better management from bureaucrats and politicians in Washington or Phoenix, but greater freedom for states, localities, and citizens to shape their own futures. When decisions are made closer to the people they affect, they tend to reflect real needs, not abstract theories or one-size-fits-all mandates. Policy should grow from the ground up—not be imposed from the top down.</p><p>Goldwater’s voice endures not because he offered simple answers, but because he asked enduring questions: What is the legitimate purpose of government? Where should it stop? And who decides?</p><p>Independence Day should compel us to ask those questions every year. The promise of 1776 cannot be fulfilled by fireworks alone, nor does it continue naturally. It is kept alive by citizens who remain vigilant about the role of government, and who understand that being free includes the hard work to preserve it.</p><p>At the Goldwater Institute, we continue to advance that vision. In every policy we propose, and every case we litigate, we ask whether liberty is being enlarged or diminished—whether decisions are being returned to individuals or taken from them. We hold that fidelity to a constitutional structure designed, from the beginning, to secure human freedom through limited power grants us all the chance to pursue our own happiness.</p><p>This Independence Day, let us remember that patriotism is not just sentiment—it is stewardship. The American Revolution is not only something that happened a long time ago, it is a living promise to preserve our liberty, one that each generation must strive to uphold.</p><p>Happy Fourth of July!</p><p>Victor Riches is the President and CEO of the Goldwater Institute.</p> The Promise Of The Fourth of July	查看 3405	戈德华特研究所	2025-07-04 00:00:00 2025-07-05 03:07:27	word

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