Trump Fires Labor Chief Over Job Report Fallout
President Donald Trump dismissed the head of the Bureau of Labor Statistics following a jobs report that sharply underperformed expectations. The firing was paired with accusations of data manipulation, sparking bipartisan backlash. Former BLS commissioner Bill Beach defended the agency, calling the accusation "groundless" and highlighting the statistical norms around employment report revisions.
Larry Summers, a former Treasury Secretary, labeled the firing "authoritarian," warning that it undermines trust in U.S. institutions. The jobs numbers had been initially praised by Trump allies just a week earlier. Now, the White House faces a credibility crisis as it tries to reconcile Trump's reaction with its own narrative of economic reform.
Trade Negotiations Hit High Stakes Moments
Trump's deadline for new trade deals is quickly approaching. With August 7 and August 12 set as hard limits for countries to either finalize agreements or face severe tariffs, the administration is juggling major negotiations with Canada, Mexico, China, and India.
While deals have already been struck with Japan and the EU, tensions remain with Canada over newly imposed 35% tariffs. Canada's U.S. trade minister, Dominic LeBlanc, expressed optimism but noted the economic strain the tariffs could impose.
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