Published on 02/05/2025 11:02 PM
Welcome to our live blog tracking the latest developments from US President Donald Trump's second term in office. Get real-time updates on Trump's policy decisions, legislative actions, headline-grabbing statements and various other developments impacting the US and the world.
The Hill reports that Senate Armed Services Committee Chair Roger Wicker (R-Miss.) has criticized President Donald Trump's proposed 2026 budget, arguing it inadequately addresses military threats from China, Russia, and other adversaries. Wicker cautioned that the proposed spending levels would diminish President Donald Trump's military options and negotiating power.
Wicker's statement highlights ongoing debates over defense spending and the balance between fiscal conservatism and national security priorities within the Republican Party. The President's budget is a proposal, and Congress, particularly the Senate Armed Services Committee, will ultimately determine the final budget, said The Hill.
President Donald Trump's 2026 budget proposal is facing criticism from Senate Armed Services Committee Chair Roger Wicker, who argues it inadequately addresses military threats from China, Russia, and other adversaries, The Hill reports. Wicker cautioned that the proposed spending levels would diminish President Donald Trump's military options and negotiating leverage.
Wicker, a Republican, voiced concerns that the budget falls short of maintaining pace with growing global threats. He suggested that the proposed cuts would limit the President Donald Trump's ability to respond effectively to international crises, according to The Hill.
The Hill reports that the Trump administration has closed the de minimis tariff loophole for lower-value Chinese imports. This action is part of the ongoing trade war, particularly focused on China. However, the administration also waived a customs rule, which trade experts say will make collecting these tariffs very difficult.
The Trump administration has eliminated the de minimis tariff exemption for lower-value imports from China, a move intended to intensify the ongoing trade war, The Hill reports. However, the administration simultaneously waived a customs regulation, which trade experts suggest will complicate the process of collecting these tariffs. This decision arrives amid growing scrutiny of Chinese e-commerce platforms and congressional concerns about the de minimis exemption providing an unfair advantage.
The Hill reports that Mike Waltz is departing from his role as national security advisor, and Marco Rubio will take over on an interim basis. President Donald Trump announced Thursday that Waltz, previously a House GOP lawmaker, is his pick for U.N. ambassador, according to The Hill.
The Hill notes that there are 11 potential candidates to permanently replace Waltz as national security advisor. Waltz's nomination as UN Ambassador will likely face scrutiny in the Senate, similar to past nominations for the role, The Hill reports.
Fox News reports that Interior Secretary Doug Burgum exclusively shared his decision to adjust a rule regarding the financial assurances oil firms must provide against default. This move is expected to unleash drilling in the Gulf of Mexico by altering the requirements for how much money oil companies must set aside, as reported by Fox News.
Allies of Donald Trump in Congress are promoting proposals to sell off America’s public lands under the guise of addressing the housing crisis, according to The Hill. Critics argue that this approach is reckless and environmentally damaging. The proposal has sparked debate over the best use of public lands, balancing conservation and development.
President Donald Trump announced that Mike Waltz, the current national security advisor, will be nominated as U.N. ambassador, according to The Hill. Secretary of State Marco Rubio is set to replace Waltz on an interim basis, as reported by The Hill. The article also highlights 11 potential contenders to permanently replace Waltz as national security advisor.
A federal judge has denied a request from civil and human rights organizations to block the enforcement of key provisions in President Donald Trump’s executive orders involving diversity, equity and inclusion (DEI) and gender, The Hill reports. U.S. District Judge Timothy Kelly denied the advocacy groups’ request for a preliminary injunction, which would have prohibited the enforcement of the executive orders.
According to The Hill, Vice President Vance has described President Donald Trump's initial 100 days following his return to the White House as a 'revival' of the American spirit. Vance stated that the Trump administration is actively dismantling obstacles to restore the American Dream.
The Vice President's comments are part of a broader narrative that aims to contrast President Donald Trump's policies with those of the previous administration and galvanize support for his ongoing re-election campaign.
The New York Times reports that President Donald Trump's trade policies are leading to price increases that are impacting American consumers. Tariffs imposed by the Trump administration are raising the cost of imported goods, and companies are passing these costs on to consumers. These tariffs, initiated to protect American industries and reduce trade deficits, are now affecting the prices consumers see in their shopping carts.
The Hill reports that the White House has unveiled its budget proposal for the upcoming fiscal year 2026. Office of Management and Budget Director Russell Vought communicated to Senate Appropriations Committee Chair Susan Collins (R-Maine) that the budget seeks to reduce base nondefense discretionary budget authority by 22.6 percent, cutting spending levels.
The budget proposal is a "skinny" version, offering a high-level overview that sets the stage for negotiations, but lacks detailed line-item spending proposals, as reported by The Hill.
Senate Democratic Leader Chuck Schumer has strongly condemned President Donald Trump’s 2026 budget proposal, which outlines significant spending cuts across various government sectors, according to The Hill. Schumer stated that Trump's budget is an "all out assault on hardworking Americans," dismissing any pretense of populism.
Banks Or IT: Which Stocks Should You Buy Now? | Sectors To Watch | IT Stocks | Stock Market
Stock Market Holiday Jammu Kashmir News Live GT vs SRH Live Score Delhi Rain PM Modi on Shashi Tharoor Odisha 10th Result 2025 Ganga Expressway Indian Rupee Hyderabad Water Crisis IPL Points Table 2025
Business Markets Stocks India News City News Economy Mutual Funds Personal Finance IPO News Startups
Home Currencies Commodities Pre-Market IPO Global Market Bonds
Home Loans up to 50 Lakhs Credit Cards Lifetime Free Finance TrackerNew Fixed Deposits Fixed Deposit Comparison Fixed Income
Home MC 30 Top Ranked Funds ETFs Mutual Fund Screener
Income Tax Calculator EMI Calculator Retirement Planning Gratuity Calculator
Stock Markets
News18 Firstpost CNBC TV18 News18 Hindi Cricketnext Overdrive Topper Learning
About Us Contact Us Advisory Alert Advertise with Us SupportDisclaimer Privacy Policy Cookie Policy Terms & Conditions Financial Terms (Glossary) Sitemap Investors
You are already a Moneycontrol Pro user.