‘We’ve got trillions of manufacturing that’s going to come back,’ says treasury secretary Bessent
As Donald Trump’s tariffs take effect today, his treasury secretary Scott Bessent said in an interview with MSNBC earlier that things have “just gotten out of balance, we’ve stopped making things in the US,” when asked about tariffs issued against key allies like South Korea, Japan, Australia, and the EU.
Bessent added that he’s confident that tariffs will reinvigorate American manufacturing, citing the corporate commitments from the likes of Apple.
“We want to get rid of these big deficits that we have with countries that have created these big surpluses and gutted our manufacturing base,” he said. “We’ve got trillions and trillions of manufacturing that’s going to come back, and we’re going to see that over the next couple of years.”
Bessent went on to describe this period as a “manufacturing renaissance”.
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Updated at 14.30 BST
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Bessent says ‘$300bn’ likely in tariff revenue
When asked about how much money the US can expect to bring in from Donald Trump’s tariffs, treasury secretary Scott Bessent said that $300bn was “a good start”. He compared this to the $77bn brought in from tariff revenue in 2024.
“This year, we could have about 300 billion of new revenue, which is 1% of GDP. And then there’s a chance that that could be higher in ‘26,” Bessent said.
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‘We’ve got trillions of manufacturing that’s going to come back,’ says treasury secretary Bessent
As Donald Trump’s tariffs take effect today, his treasury secretary Scott Bessent said in an interview with MSNBC earlier that things have “just gotten out of balance, we’ve stopped making things in the US,” when asked about tariffs issued against key allies like South Korea, Japan, Australia, and the EU.
Bessent added that he’s confident that tariffs will reinvigorate American manufacturing, citing the corporate commitments from the likes of Apple.
“We want to get rid of these big deficits that we have with countries that have created these big surpluses and gutted our manufacturing base,” he said. “We’ve got trillions and trillions of manufacturing that’s going to come back, and we’re going to see that over the next couple of years.”
Bessent went on to describe this period as a “manufacturing renaissance”.
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Updated at 14.30 BST
Trump to sign executive orders on 401k choice and ‘debanking’
A White House official tells the Guardian that the president will sign two finance-related executive orders today.
The first will be an action that allows 401k holders to “to access alternative assets” such as private equity, according to details shared with the Guardian.
The second order will focus on Trump’s claims of banks discriminating against conservatives. This would punish banks for the process of “debanking” – which involves limiting financial services based on religious or political beliefs.
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More details emerge about shooting at Georgia military base
We’ve gotten more details about the shooting on an army base in Georgia on Wednesday. A reminder that an active-duty soldier opened fire at Fort Stewart military base yesterday, wounding five other soldiers before being taken into custody.
Officials said the alleged shooter was 28-year-old Sgt Quornelius Radford, who was assigned to Fort Stewart.
Brig Gen John Lubas, commander of the third infantry division and Fort Stewart-Hunter army airfield, said soldiers in the area who witnessed the shooting “immediately and without hesitation tackled the soldier, subdued him. That allowed law enforcement to then take him into custody.”
The base said in a Facebook post that the shooting occurred in the 2nd Armored Brigade Combat Team area. “All soldiers were treated on-site and moved to Winn Army Community Hospital for further treatment,” the base said.
Lubas confirmed the shooter did not use a military weapon. “We believe it was a personal handgun,” he said.
According to reporting from The New York Times, Radford sent a text message to his aunt on Wednesday morning which said that he “loved everybody, and that he’ll be in a better place because he was about to go and do something”.
The Times also spoke with Radford’s father, who said he hasn’t noticed anything unusual about his son’s behavior recently, and didn’t know what might have led him to attack his fellow soldiers.
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Updated at 14.10 BST
Donald Trump is at the White House today. His day is looking quiet until noon EDT, when he’ll sign executive orders. Then at 4pm EDT he’s deliver remarks in the East Room.
We’ll be watching and bringing you the latest.
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President Donald Trump on Thursday called for the Intel new CEO Lip-Bu Tan to immediately resign, saying he is “highly conflicted” after questions arose about his ties to Chinese firms.
“There is no other solution to this problem,” he said in a Truth Social post.
It comes as Republican senator Tom Cotton sent a letter to Intel’s board chair on Wednesday with questions about Tan’s ties to Chinese firms and a recent criminal case involving his former company Cadence Design.
Writing to “express concern about the security and integrity of Intel’s operations and its potential impact on US national security”, Cotton asked in the letter to Intel chairperson Frank Yeary whether the company’s board was aware of the subpoenas sent to Cadence during Tan’s time there as CEO before Intel hired him.
Cotton asked what measures were taken to address those concerns.
ShareSam Levin
US border patrol agents carried out a raid outside a Home Depot in Los Angeles on Wednesday, with officers jumping out of an unmarked rental truck and chasing and arresting more than a dozen people.
Videos of the operation, and federal officials’ statements boasting about the detentions, have raised questions about whether the US government was complying with a federal court order halting indiscriminate raids in the region due to evidence of racial profiling. That ruling, upheld last week by an appeals court, followed reports of Latino US citizens getting swept up in LA raids and accounts of undocumented people being targeted based on their appearance and whether they spoke Spanish.
Clips of the early morning raid by Home Depot in the Westlake neighborhood, near MacArthur Park, showed masked, heavily armed officers jumping out of a yellow truck from Penske, a private rental company, and people fleeing. Day laborers often gather outside Home Depot stores looking for work and have been subject to aggressive immigration raids in southern California.
One day-laborer present for the Wednesday raid told the Los Angeles Times that the Penske truck pulled up to the parking lot around 6.45am, with the driver telling people gathered in Spanish that he had work to offer. Someone then rolled up the back of the truck, and masked agents, including one in a cowboy hat, jumped out as people scattered, the witness said.
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Dara Kerr
Donald Trump said he would impose a 100% tariff on foreign computer chips, likely raising the cost of electronics, autos, household appliances and other goods deemed essential for the digital age.
“We’ll be putting a tariff on of approximately 100% on chips and semiconductors,” Trump said in the Oval Office while meeting with Apple CEO Tim Cook. “But if you’re building in the United States of America, there’s no charge.”
The Republican president said companies that make computer chips in the US would be spared the import tax. During the Covid-19 pandemic, a shortage of computer chips increased the price of autos and contributed to an overall uptick in inflation.
Trump and Cook were meeting on Wednesday to discuss an agreement for Apple to invest $100bn in manufacturing in the US over the next four years. That comes after the iPhone maker already pledged to invest $500bn domestically earlier this year. With Apple’s new investment, the total figure is now at $600bn.
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Trump directs Commerce Department to create new US Census
President Donald Trump said on Thursday that he has instructed the Department of Commerce to begin creating a new Census “based on modern day facts and figures” and that uses the results and information from the 2024 presidential election.
“People who are in our Country illegally will not be counted in the census,” he said in a Truth Social post.
He added:
I have instructed our Department of Commerce to immediately begin work on a new and highly accurate CENSUS based on modern day facts and figures and, importantly, using the results and information gained from the Presidential Election of 2024.
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Nick Robins-Early
Donald Trump on Wednesday celebrated a commitment by Apple to increase its investments in US manufacturing by an additional $100bn over the next four years.
Apple’s plan to up its domestic investment comes as it seeks to avoid Trump’s threatened tariffs, which would increase the tech giant’s costs as it relies on a complex international supply chain to produce its iPhones. Apple’s CEO, Tim Cook, warned during an earnings call in May that the tariffs could cost the company up to $900m that fiscal quarter alone.
After Cook gifted Trump a US-made souvenir with a 24-karat gold base at the Oval Office on Wednesday, the president praised the corporation, telling reporters: “Companies like Apple, they’re coming home … This is a significant step toward the ultimate goal of ensuring that iPhones sold in America also are made in America.”
Cook said many components of the iPhones are already made domestically, including glass, semiconductors and face ID, but that final assembly of the devices would remain overseas “for a while”. In an earlier statement, Cook had said the new investments involve work with 10 companies across the US that produce components used in Apple products.
Apple had previously said it intended to invest $500bn domestically, a figure it will now increase to $600bn. Apple also claimed that it would directly hire 20,000 US workers over the next four years.
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Stephanie Kirchgaessner
JD Vance’s team had the army corps of engineers take the unusual step of changing the outflow of a lake in Ohio to accommodate a recent boating excursion on a family holiday, the Guardian has learned.
The request from the US Secret Service was made to “support safe navigation” of the US vice-president’s security detail for an August outing on the Little Miami River, according to a statement by the US army corps of engineers (USACE).
Vance was spotted in the south-western Ohio area on 2 August, his 41st birthday, according to social media posts that noted he was seen canoeing on the river, a tributary that Caesar Creek Lake feeds into.
One source with knowledge of the matter who communicated with the Guardian anonymously alleged that the outflow request for the Caesar Creek Lake was not just to support the vice-president’s Secret Service detail, but also to create “ideal kayaking conditions”. The Guardian could not independently confirm this specific claim.
The news raises questions about whether Vance’s office was potentially exploiting public infrastructure resources for his personal recreation at a time when the Trump administration has cut billions of dollars in foreign aid, scientific research and government jobs as part of its “efficiency” drive.
The vice-president’s office did not respond to a request for comment.
ShareDavid Smith
Leading Democrats are sounding the alarm over Donald Trump’s reported plan to divert funds from the US nuclear arsenal to convert a luxury jet gifted by Qatar into a new Air Force One.
The US president provoked an outcry in May when it emerged that he would accept a $400m Boeing 747-8 jet as a free gift from the Qatari royal family. Stripping down and securing the plane so it can transport Trump for a few years will cost taxpayers an estimated $1bn.
Now Democrats are seizing on media reports that the retrofit will be part funded by money redirected from Sentinel, a nuclear missile modernisation programme already running years behind schedule and said to be 81% over budget.
In a letter obtained by the Guardian, senators Elizabeth Warren, Tammy Duckworth, Ed Markey and Adam Schiff, along with representatives John Garamendi and Jamie Raskin, demand answers from Troy Meink, the secretary of the air force.
The letter reminds Meink that, in testimony to the Senate armed services committee, he acknowledged the Qatari plane needs “significant modifications” to meet Air Force One standards. These are likely to include defences against threats ranging from surface-to-air missiles to a nuclear blast, secure and reliable communications systems and protections against counterintelligence.
The Democrats write: “In June, you told Congress that the cost of retrofitting the Qatari Boeing 747-8 ‘wouldn’t be anywhere near’ the reported $1 billion estimate. Do you still believe this to be the case?”
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Switzerland’s government will hold an emergency meeting on Thursday to decide its next move after its president returned home empty-handed from an 11th-hour trip to Washington aimed at averting a crippling 39% US import tariff on Swiss goods.
An urgent meeting of the seven-member Federal Council – Switzerland’s governing cabinet – will take place in Bern in the early afternoon, the government said a post on X.
Swiss president Karin Keller-Sutter left Washington on Wednesday without a new deal and did not meet with US president Donald Trump or any of his top trade officials, two sources told Reuters.
Her proposal for a 10% tariff rate was rejected by US officials, one of the sources added.
Negotiations between Switzerland and the United States over tariffs will continue, but more time is needed to strike a deal, according to a Swiss source familiar with the discussions.
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President Donald Trump on Wednesday said he may use the National Guard to police the streets of Washington, DC, and a White House official said federal law enforcement would increase its presence in the city this week.
The threat – and the move to follow through on it – is the latest step by Trump and his administration toward taking over running the city that serves as the seat of the US government.
“We have a capital that’s very unsafe,” Trump told reporters at the White House. “We have to run DC This has to be the best-run place in the country.”
A White House official told Reuters that operational details about the increased federal presence were still being finalized.
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South African president Cyril Ramaphosa held a telephone call with US president Donald Trump on bilateral trade and the two countries’ trade negotiating teams will have more detailed talks, Ramaphosa’s office said on Thursday.
South Africa tried for months but failed to negotiate a trade deal with Washington ahead of Trump’s deadline. US imports from South Africa now face a 30% duty.
“The two leaders undertook to continue with further engagements, recognising the various trade negotiations the US is currently involved in,” Ramaphosa’s office said in a statement.
“Respective trade negotiating teams will take forward more detailed discussions.”
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Kremlin aide says Putin-Trump meeting is likely to take place next week, RIA reports
A meeting between Russian President Vladimir Putin and United States president Donald Trump is likely to take place next week, Russian state news agency RIA Novosti quoted Kremlin aide Yuri Ushakov as saying on Thursday.
More on this development as we get it.
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Trump’s higher tariffs hit major US trading partners
The US Customs and Border Protection agency began collecting the higher tariffs of 10% to 50% at 12.01am EDT after weeks of suspense over Trump’s final tariff rates and frantic negotiations with major trading partners that sought to lower them.
The leaders of Brazil and India vowed not to be cowed by Trump’s hardline bargaining position, even while their negotiators sought a reprieve from the highest tariff levels.
The new rates will test Trump’s strategy for shrinking US trade deficits without causing massive disruptions to global supply chains or provoking higher inflation and stiff retaliation from trading partners, Reuters reported.
After unveiling his ‘Liberation Day’ tariffs in April, Trump has frequently modified his plan, slapping much higher rates on imports from some countries, including 50% for goods from Brazil, 39% from Switzerland, 35% from Canada and 25% from India. He announced on Wednesday a separate, 25% tariff on Indian goods, to be imposed in 21 days, over India’s purchases of Russian oil.
“RECIPROCAL TARIFFS TAKE EFFECT AT MIDNIGHT TONIGHT!,” Trump said on Truth Social just ahead of the deadline. “BILLIONS OF DOLLARS, LARGELY FROM COUNTRIES THAT HAVE TAKEN ADVANTAGE OF THE UNITED STATES FOR MANY YEARS, LAUGHING ALL THE WAY, WILL START FLOWING INTO THE USA. THE ONLY THING THAT CAN STOP AMERICA’S GREATNESS WOULD BE A RADICAL LEFT COURT THAT WANTS TO SEE OUR COUNTRY FAIL!”
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US national parks staff in ‘survival mode’ to keep parks open amid Trump cuts
Oliver Milman
Across the US’s fabled but overstretched national parks, unusual scenes are playing out this summer following budget cuts by Donald Trump’s administration. Archeologists are staffing ticket booths, ecologists are covering visitor centers and the superintendents of parks are even cleaning the toilets.
The National Park Service (NPS), responsible for maintaining cherished wildernesses and sites of cultural importance from Yellowstone to the Statue of Liberty, has lost a quarter of its permanent staff since Trump took office in January, with the administration seeking to gut the service’s budget by a third.
But the administration has also ordered parks to remain open and accessible to the public, meaning the NPS has had to scramble remaining staff into public-facing roles to maintain appearances to the crowds of visitors. This has meant much of the behind-the-scenes work to protect endangered species, battle invasive plants, fix crumbling infrastructure or plan for the future needs of the US’s trove of natural wonders has been jettisoned.
“It’s nearly impossible to do the leadership role expected of me,” said one superintendent who heads a park in the western US who didn’t want to be named for fear of retribution from the administration.
“I’m doing everything now. That means I regularly have to make sure the doors are open, I have to run the visitor center, I have to clean the bathrooms. I’d say I’m cleaning the bathroom on a weekly basis now because there’s no one else to do it.”
This sort of triage situation is occurring across the 433 sites and 85m acres – including 63 national parks and an array of battlefields, monuments and cultural sites – that make up the national park system in the US, multiple current and former NPS staff have told the Guardian, risking long-term degradation of prized parks.
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Updated at 13.49 BST
Vance to visit Indiana to discuss redistricting amid Trump pressure on GOP states
Good morning and welcome to our live coverage of US politics as JD Vance prepares to visit Indiana on Thursday to discuss redistricting with Republican leaders.
The vice president’s trip comes as Donald Trump ramps up pressure on GOP states to redraw congressional boundaries and give the party more winnable seats in the 2026 midterm elections. In Texas, Democrats who left the state in an effort to block a new congressional map from being implemented say they experienced a bomb threat at their Illinois hotel on Wednesday morning amid the standoff.
Vance is scheduled to hold private meetings with Gov. Mike Braun and others before attending a GOP fundraiser on Thursday night in the solidly Republican state. Braun had earlier told reporters he expects to discuss several matters with the vice president — including redistricting — but said no commitments have been made.
“It looks like it’s going to happen across many Republican states,” Braun said. As Associated Press reports, Indiana is staunchly Republican, outnumbering Democrats in Indiana 7-2, limiting the possibilities of squeezing out another seat.
Opponents of any redistricting attempt are planning to make their objections known on Thursday with protests and a news conference by the two Democratic members of the state’s congressional delegation. The constitutionality of the move would also almost certainly be challenged in court.
We’ll bring you all the developments throughout the day. In other news:
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Donald Trump has claimed “great progress was made” during talks on ending the war in Ukraine between his special envoy, Steve Witkoff, and Vladimir Putin in the Kremlin on Wednesday. The three-hour talks came two days before a deadline the US president set for Russia to reach a peace deal in the war or face fresh sanctions.
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The White House is placing an additional 25% tariff on imports from India, bringing total tariffs up to 50%, in retaliation for the country’s purchase of oil from Russia, according to an executive order signed on Wednesday morning. India has 21 days to respond to the potential tariffs before they go into effect. The tariffs will be tacked on to a 25% tariff on India Trump set last week as a “penalty” for the country’s trading relationship with Russia.
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A new report has found hundreds of reported cases of human rights abuses in US immigration detention centers. The alleged abuses uncovered include deaths in custody, physical and sexual abuse of detainees, denial of access to attorneys, and child separation.
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Trump on Wednesday celebrated a commitment by Apple to increase its investments in US manufacturing by an additional $100bn over the next four years. Apple’s plan to up its domestic investment comes as it seeks to avoid Trump’s threatened tariffs, which would increase the tech giant’s costs as it relies on a complex international supply chain to produce its iPhones.
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South Africa’s President Cyril Ramaphosa held a telephone call with US president Donald Trump on bilateral trade matters, Ramaphosa’s office said in statement.
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Switzerland’s government will hold an emergency meeting on Thursday to decide its next move after its president returned home empty-handed from an 11th-hour trip to Washington aimed at averting a crippling 39% US import tariff on Swiss goods. An urgent meeting of the seven-member Federal Council – Switzerland’s governing cabinet – will take place in Bern in the early afternoon, the government said a post on X. Swiss president Karin Keller-Sutter left Washington on Wednesday without a new deal and did not meet with Donald Trump or any of his top trade officials, two sources told Reuters.
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The man charged with killing the top Democrat in the Minnesota House and her husband, and wounding a state senator and his wife, is expected to plead not guilty when he’s arraigned in federal court on Thursday, his attorney said. Vance Boelter, 58, of Green Isle, Minnesota, was indicted 15 July on six counts of murder, stalking and firearms violations. The murder charges could carry the federal death penalty, though prosecutors say that decision is several months away.
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Updated at 13.57 BST