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Stocks soar after Trump suspends tariffs

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From The Center Square

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One gets the feeling this isn’t over yet…

President Donald Trump continued ahead Wednesday with his on-again, off-again tariffs, with his latest tariff suspension sending U.S. markets soaring.

Trump announced Wednesday afternoon on his Truth Social app that he would pause the majority of the reciprocal tariffs he announced last week on “Liberation Day,” the April 2 start of the implementation of the tariffs only to reverse course and put everything on pause.

Stocks jumped on the news with the Dow Jones gaining nearly 6% Wednesday after sharp losses during the previous week.

Treasury Secretary Scott Bessent said it was all part of the plan.

“We saw the successful negotiating strategy that President Trump implemented a week ago today. It has brought more than 75 countries forward to negotiate,” Bessent said Wednesday. “It took great courage for him to stay the course until this moment.”

Trump’s pause includes all the tariffs that went into effect at midnight, except the additional levies on China. Trump has targeted the world’s second-largest economy in a tariff war that China has said it will “fight to the end.”

While many other nations called Trump’s trade team seeking deals to avoid reciprocal tariffs, China showed no signs of backing down.

“The U.S. threat to escalate tariffs is doubly erroneous, once again exposing its extortionist nature. China firmly rejects such actions,” China’s commerce ministry said Tuesday. “Should the U.S. persist in this reckless course, China will respond resolutely until the end.”

Trump’s decision to suspend tariffs came after tough questions from Republicans, including U.S. Sen. John Kennedy, R-La.

“I just don’t know what his goal is right now,” Kennedy said earlier in the day after comparing Trump to a dog chasing a car and catching it.

“President Trump has been a Rottweiler here, but now he’s the Rottweiler who has caught the car,” Kennedy said. “That’s the moment we are in now. My question is: What is he going to do with the car?”

Trump has made big, bold promises about his tariffs. He has said tariffs will make the U.S. “rich as hell,” bring back manufacturing jobs lost to lower-wage countries in decades past and shift the tax burden away from U.S. families. He’s also promised to help working Americans with his tariffs.

On Tuesday, Trump wrote “I’m proud to be the President for the workers, not the outsourcers; the President who stands up for Main Street, not Wall Street; who protects the middle class, not the political class; and who defends America, not trade cheaters all over the globe.”

Public Citizen, a progressive consumer rights advocacy group, said Trump’s latest suspension of tariffs showed he doesn’t support the workers who elected him.

“Who’s left out of his megalomaniacal game? The workers he claimed to support,” said Melinda St. Louis, global trade watch director at Public Citizen. “All he has shown is that he’ll cave to Wall Street’s handwringing and prioritize his own power over real people’s plight.”

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Canadian gov’t spending on DEI programs exceeds $1 billion since 2016

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From LifeSiteNews

By Clare Marie Merkowsky

Some departments failed to provide clear descriptions of how the taxpayer funds were used. For example, Prairies Economic Development Canada spent $190.1 million on projects related to diversity, equity and inclusion ventures but could not provide details.

Federal diversity, equity and inclusion programs have cost Canadian taxpayers more than $1 billion since 2016.

According to information published September 18 by Blacklock’s Reporter, diversity, equity and inclusion (DEI) government grants have totaled $1.049 billion since 2016, including grants for “cultural vegetables.”

A $25 million grant, one of the largest individual grants, was given to the Canadian Gay and Lesbian Chamber of Commerce to “strengthen Canada’s entrepreneurship ecosystem to be more accessible to LGBTQ small businesses.”

The government payouts were distributed among 29 departments, ranging from military to agricultural projects.

The Department of Agriculture spent $90,649 for “harvesting, processing and storage of cultural vegetables to strengthen food security in equity-deserving Black communities” in Ontario.

Some departments failed to provide clear descriptions of how the taxpayer funds were used. For example, Prairies Economic Development Canada spent $190.1 million on projects related to diversity, equity and inclusion ventures but could not provide details.

“PrairiesCan conducted a search in our grants and contributions management system using the keywords ‘equity,’ ‘diversity’ and ‘inclusion,’” the Inquiry said. “Certain projects were included where diversity, equity and inclusion were referenced but may not be the main focus of the project.”

DEI projects are presented as efforts by organizations to promote fair treatment, representation, and access to opportunities for people from varied backgrounds. However, the projects are often little more than LGBT propaganda campaigns funded by the Liberal government.

As LifeSiteNews reported, the University of British Columbia Vancouver campus posted an opening for a research chair position that essentially barred non-homosexual white men from applying for the job.

Canadians have repeatedly appealed to Liberals to end pro-LGBT DEI mandates, particularly within the education system.

As LifeSiteNews previously reported, in June 2024, 40 Canadian university professors appealed to the Liberal government to abandon DEI initiatives in universities, arguing they are both ineffective and harmful to Canadians.

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How the feds blew your money this week

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The Governor General’s closet: A queen’s dream and a taxpayers’ nightmare

Governor General Mary Simon is spending your money like it’s her personal fund for Buckingham Palace’s boutique.

The governor general dipped into her taxpayer piggy bank (a.k.a. your wallet) to fund her shoe collection — six new pairs in 12 months — and is even charging you for her undergarments.

You read that right. Apparently, hundreds of dollars in silk undergarments are now considered essential to public services.

Simon spent $330 of taxpayers’ money on silk camisoles, $1,117 on shoes, $875 on a single blazer, $1,500 on a “sealskin chest piece” and $2,510 on luxury wool suits during the last fiscal year.

Simon spent $144 on a “black dress cardigan.” The “value of the item” according to the expense sheet is half that, listed at only $72. Is there anything the government doesn’t go overbudget on?

It’s very rare for any minister or prime minister to expense clothing. Only two ministers expensed apparel last year — each less than $300 for work boots for an event at a construction site.

Simon billed you for a total of $7,576 on shoes and clothing last year.

Simon’s annual salary is $378,000 a year. Let’s just say she doesn’t need to force you to pay for her clothes.

And that’s not all! Simon’s expansive wardrobe isn’t the only way the governor general’s office is draining the public purse.

Her lavish wardrobe is just the start of the spending spree. Since her appointment, she spent more than $120,000 on speech writers — and don’t get us started on her crazy travel expenses.

Simon has been enjoying mile-high catering — meals on airplanes include beef Wellington, carpaccio, stuffed pork tenderloin and hundreds of dollars on lemons, limes and bottled water. The list goes on.

Simon and her entourage billed you about $100,000 for airplane food during their week-long trip to the Middle East. A separate four-day trip to Germany totaled $103,000 in catering costs. She also spent hundreds of dollars on flowers to go along with the lavish meals.

All on your dime.

Oh, and the cost of those trips totalled $1 million and $700,000, respectively.

Simon also famously spent $71,000 at “Icelimo Luxury Travel” during a four-day trip to Iceland. The total bill for that trip cost taxpayers $298,000.

In fact, the governor general’s travel during her first year in office cost you almost $3 million.

Why is she even going on these far-flung excursions? The governor general’s role is to represent the monarchy here in Canada.

When was the last time you took your family on a vacation? Next time you agonize over fuel or air travel costs, remember you’re already footing the bill for an unelected figurehead’s opulent jet-setting.

The worst part of all this? The governor general’s flamboyant spending is all within rules laid out by the federal government.

Governors general can bill you up to $130,000 on clothes over their five-year term.

And all those posh clothes need cleaning, right? The governor general’s office spent $117,000 on professional dry-cleaning services since 2018, despite having staff dedicated to doing the laundry.

That works out to more than $1,800 per month spent on dry cleaning.

It’s time to close the royal boutique and stop treating taxpayers like an unlimited credit card.

Franco’s note: I just want to give a shout out to the great investigative news outlet, Blacklock’s Reporter. They were the first outlet to report on this spending. And that’s not the only big taxpayer story they uncovered this week. Check this one out: https://www.blacklocks.ca/d-e-i-spending-tops-1-04b/

 

Carney shrinks from pro-active cuts — lets bureaucrats retire themselves

The Canadian Taxpayers Federation called out Prime Minister Mark Carney for his lackadaisical approach to Ottawa’s bureaucracy.

Carney needs to cut staff, not just wait for them to retire.

Here’s the back story:

The federal bureaucracy ballooned disproportionately under the Trudeau Liberals. Carney’s predecessor added nearly 100,000 paper pushers during his decade-long tenure.

The federal bureaucracy cost taxpayers $71.1 billion in 2024-25 — a 77 per cent increase from the $40.2 billion expense in 2016-17.

Enter Mark Carney, armed with a plan … based on inaction and procrastination.

The prime minister said he’s directed federal departments and Crown corporations to cut up to 15 per cent of their budgets over the next few years. He also claimed he would “balance the operating budget by Budget 2028.”

That seemed like a promising start — until Carney announced the cuts would “happen naturally through attrition.”

The bureaucracy now consumes about 55 per cent of the operating budget. And quality of service is decreasing.

Half of Canadians think services are worse than in 2016, according to a Leger poll commissioned by the CTF. Only 11 per cent say they’re better — proving the bureaucracy isn’t shrinking, it’s suffocating.

The poll showed most Canadians want to see the federal bureaucracy cut.

We’ll keep fighting for real cuts — not just a slow march to retirement.

 

Video: Carney clueless about his own gun confiscation

Carney called his gun confiscation “voluntary.”

Except the federal government announced a list of banned guns that many Canadians had stored in their homes.

Those firearms are suddenly illegal.

The Carney government plans to confiscate them in exchange for compensation. The penalty for illegal possession of a prohibited firearm under the Criminal Code is up to five years in jail.

And taxpayers like you are forced to pay those law-abiding Canadians after the government seizes their property.

“We’re not confiscating guns,” Carney said. “[It’s] an opportunity for Canadians to return guns for compensation.”

What does that mean? Taxpayers have questions.

The CTF’s Gage Haubrich and Kris Sims break it down in the video below and offer Carney an easy solution: scrap the gun ban and confiscation scheme.

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