SaveSave story

White House: tariff "carve-outs for Mexico and Canada" on the table

Sarah Sanders.
Photo: Chip Somodevilla / Getty Images

Press Secretary Sarah Sanders said on Wednesday that there are "potential carve-outs for Mexico and Canada based on national security," regarding the tariffs announced by President Trump.

Why it matters: The tariffs announced on steel and aluminum have been a controversial topic, getting backlash abroad and at home. Sanders said Trump "will sign something by the end of the week."

  • Sanders said the White House "sounds like a very functioning place of business to me," despite historic turnover, and top economic advisor Gary Cohn planning to resign soon.
    • She said the White House isn't "closing the door" on on the possibility of Cohn being brought back by the administration in another capacity.
  • The White House buckled down on denying the allegations from Stormy Daniels, who is suing Trump. Sanders said Trump had "no knowledge of any payments" to Daniels.
  • Sanders confirmed Trump will be traveling to California next week, for the first time of his presidency.
SaveSave story

Zuckerberg admits Facebook "breach of trust"

Facebook CEO Mark Zuckerberg walks wearing a t-shirt, with trees behind him
Photo: Drew Angerer/Getty Images

Mark Zuckerberg weighed in on what he called the "Cambridge Analytica situation" today in a Facebook post, saying there was a "a breach of trust between Facebook and the people who share their data with us and expect us to protect it. We need to fix that."

"We have a responsibility to protect your data, and if we can't then we don't deserve to serve you. I've been working to understand exactly what happened and how to make sure this doesn't happen again. The good news is that the most important actions to prevent this from happening again today we have already taken years ago. But we also made mistakes, there's more to do, and we need to step up and do it."

Why it matters: Facebook has been under extraordinary pressure from lawmakers, regulators and Wall Street to respond to the issue.

Jonathan Swan 7 hours ago
SaveSave story

Trump to announce anti-China tariffs tomorrow

President Donald Trump
Photo: Kevin Dietsch-Pool/Getty Images

President Trump plans to unveil his aggressive package of tariffs against China tomorrow, with a charge led by U.S. Trade Representative Robert Lighthizer that will use Section 301 of the Trade Act of 1974 to target Beijing.

The big picture: Two sources with direct knowledge tell me Kevin Hassett has been crunching the numbers, and the dollar value of the tariffs will likely be around $50 billion per year — or slightly less. The administration has used an algorithm to select a batch of Chinese products and then apply tariff rates to those products in a way that will hopefully limit the harm to American consumers.