Trump Rolls Back Tariffs Amid Depression Fears | JQJO

President Trump, facing criticism over his broad tariff plan, privately acknowledged the risk of a recession, even a depression. While he was willing to accept economic "pain," the escalating bond yields and market downturn, fueled by fears of foreign bond dumping, prompted him to partially roll back the tariffs. This reversal led to a significant stock market surge. The involvement of Treasury Secretary Scott Bessent and ongoing negotiations with multiple countries also influenced Trump's decision.

A powerful coalition of federal legislators, executive branch officials, and multinational technology corporations has coalesced around a strategy of "federal preemption," seeking to strip state governments of their authority over generative AI. The coalition argues that the legal frameworks governing these technologies are in a state of flux as generative AI affects every sector of the economy, from healthcare diagnostics to creative industries. The push aims to centralize regulation at the federal level, limiting state‑level oversight of AI development and deployment.