Our new book is The Comeback: The 2024 Elections and American Politics. The second Trump administration is off to an ominous start. His tariffs are hurting the economy. Predictable and predicted. Scandals and erratic behavior also continue.
The July jobs report showed nonfarm payrolls expanded by 73,000 last month, well beneath the consensus estimate from economists polled by Dow Jones that called for a 100,000 increase to payrolls. Prior months were significantly revised down. June job growth totaled just 14,000, down from 147,000. The May count came down to 19,000 from 125,000, signaling the labor market has been weakening for a while now.
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Not helping sentiment overnight were Trump’s updated duties ranging from 10% to 41% overnight at the Aug. 1 deadline. Goods that have been transshipped in a bid to avoid the tariffs will face another 40% levy, according to the White House.
Probably most shocking to markets was that for Canada, one of the U.S.′ biggest trading partners, goods imported into the country will now have a 35% levy, up from 25%.
Trump spent every day for 4 years saying that Biden was about to start World War 3 and if he got elected he would end the war in Ukraine and we would have peace with Russia because he has a great relationship with Putin. Here is today’s update on all that. pic.twitter.com/YDCUCgWPpK
— Ron Filipkowski (@RonFilipkowski) August 1, 2025
Ghislaine Maxwell quietly moved to cushy new Texas prison as she pushes for deal to tell-all on Epstein, his associates https://t.co/ldvrFhSVTM pic.twitter.com/W4xceQKtPA
— New York Post (@nypost) August 1, 2025
The Community Note. pic.twitter.com/11B3zQOPLz
— Ron Filipkowski (@RonFilipkowski) August 1, 2025
