Politics

Political news that affects economic policies and markets.

Politics
Trump says Musk will step back from US government role
United States President Donald Trump has reportedly told his cabinet that Elon Musk will soon step back from his role in the administration, as his set government employment period nears its end and Tesla sales fall. Musk’s Department of Government Efficiency (DOGE) organisation has moved to drastically cut U.S. government spending, lay off its employees, and dismantle its agencies. At least 56,000 government workers have been fired since Trump’s inauguration, with 75,000 accepting buyouts, and another 171,000 dismissals are reportedly planned. “At some point Elon’s gonna want to go back to his company,” said Trump. “I’d keep him as long as I could keep him.” White House Press Secretary Karoline Leavitt denied the report. "Elon Musk and President Trump have both publicly stated that Elon will depart from public service as a special government employee when his incredible work at DOGE is complete,” she said on X. Special government employees are limited to 130 days of work at the U.S. government. This would expire at the end of May, if Musk was granted employee status immediately after Trump’s inauguration in January. Musk said last week that he expects to have completed his planned government spending cuts by the ex
Politics
'Not the act of a friend': Albanese responds to Trump taxes
Australia's Prime Minister Anthony Albanese has held firm in the face of new tariffs from the United States, saying he may use "dispute resolution" powers in Australia's free trade agreement with the States. President Donald Trump announced a broad range of new tariffs, as part of what he dubbed ‘Liberation Day’, including a baseline 10% tariff on Australian exports to the U.S. Just days before these tariff announcements were expected, Albanese took a firm stance on a new list of grievances from the U.S. over trade, saying that changes to biosecurity laws, Australian pharmaceuticals and the News Media Bargaining Code weren't going to happen on his watch. Speaking to the press today, Albanese has seemingly stuck to his guns, outlining a five-point election plan to handle the tariffs, and a threat of dispute resolution mechanisms for Australia's free trade agreement with the U.S. "The Australian people have every right to view this action by the Trump administration as undermining our free and fair trading relationship," Albanese said. "Our existing Free Trade Agreement with the United States contains dispute resolution mechanisms. We want to resolve this issue without resorting to using these." He also confirmed t
Politics
US Senator Booker holds 24-hour speech against Trump
United States Democratic Senator Cory Booker spoke on the Senate floor for more than 25 hours today in protest of President Donald Trump’s policies, breaking the Senate’s record for the longest individual speech. New Jersey Senator Booker began his speech at 7 pm on Monday, local time, and concluded at 8:05 pm the following day. Other Democratic senators, including Senate Minority Leader Chuck Schumer of New York and Mazie Hirono of Hawaii, supported Booker by asking questions, offering Booker a break in speaking without yielding the floor. “I rise with the intention of disrupting the normal business of the United States Senate for as long as I am physically able,” said Booker. “I rise tonight because I believe sincerely that our nation is in crisis.” In his speech, Booker urged Congress to hold Trump accountable for actions including sweeping cuts to the federal government, refusing to obey court orders, and the deportation of legal immigrants who have critiqued Trump. He has also read letters from New Jersey constituents outlining their opposition to Trump’s policies. He also criticised Elon Musk’s involvement with these government cuts through his Department of Government Efficiency organisation, and the Senate’s la
Politics
White House chipper as fear mounts on reciprocal tariffs
At a “Make America Wealthy Again” ceremony tomorrow (~6am AEDT) United States President Donald Trump is set to formally announce a series of so-called ‘reciprocal’ tariffs on America's global trading partners, which he says will “restore fairness, free the country from a dependence on foreign goods and stimulate the economy”. Yet the president’s allies and critics alike fear the new levies will plunge weary consumers into a new wellspring of economic uncertainty - and possibly a recession. According to Politico, some Republicans are on edge about losing their narrow congressional majority in the midterms, fearing the levies are likely to damage the president’s and the party’s popularity because of inflation. GOP lawmakers also worry privately that another round of tariffs will raise prices for U.S. consumers, cripple American farmers and rattle the stock market. In the crosshairs, U.S. Commerce Secretary Howard Lutnick - who's perhaps the biggest proponent of ”Liberation Day” - may well be liberated from his role in the administration, according to half dozen people close to the White House.How 'bout that weather?U.S. press secretary Karoline Leavitt addressed reporters on the White House lawn ahead of the looming tari
Politics
'Not on my watch': PM hits back at US trade grievances
Australia's Prime Minister Anthony Albanese issued stern words towards the United States today, saying that an updated list of grievances would not be changed on his watch. The new list was published by the U.S. trade office, outlining issues it believed affected exports and covering a range of nations including Australia. The USTO focused on Australia's pharmaceutical industry, biosecurity protections, and laws requiring social media platforms to pay for news. However, Albanese hit back, saying to press today that none of these will be touched "on my watch". U.S. President Donald Trump could dish out retaliations, with a round of new tariffs expected to be unveiled on 2 April, which he has labelled “liberation day”. The list focused on Australia’s stricter biosecurity laws, which protect unique and vulnerable flora and fauna. It said they were creating a “barrier” to U.S. produce, including beef, pork, poultry, apples and pears. The second key point the USTO disagreed with was Australia’s pharmaceutical laws. Thirdly, the News Media Bargaining Code, legislated under the former Morrison government. This code requires social media platforms to pay and support news organisations, as fair trade for hosting news c

Politics
Kremlin 'still working with the US' after Trump comments
The Kremlin says it is still "working with the U.S." after comments from President Donald Trump this week, saying he was "pissed off" with Russian President Vladimir Putin. In response to the comments spokesperson Dmitry Peskov addressed the issue during his daily news conference on Monday (Tuesday AEDT), seeming to look to downplay any tension between the two leaders. "We continue working with the U.S. side, first of all, on building our relations," Peskov, said. He added that while there were no current plans for a call between Putin and Trump this coming week, “if necessary” the Russian leader was open to one. Trump's comments were made during an interview with NBC News over the weekend that he was “very angry” with Putin for attacking Ukrainian President Volodymyr Zelensky's credibility, and threatened to impose a 50% tariff on countries buying Russian oil if Putin did not agree to a ceasefire. "You could say that I was very angry, pissed off, when... Putin started getting into Zelensky's credibility, because that's not going in the right location," Trump told NBC News." This has been the first sign of tension between Putin and Trump, marking a notable tone shift from the U.S. president towards his Russian co
Politics
Marine Le Pen banned from public office for 5 years
French far right wing politician Marine Le Pen has been banned from public office for five years, effective immediately. The decision was made in response to Le Pen, leader of the National Rally party in France, being found guilty of embezzling EU funds, a conviction she plans to fight. The guilty verdict came through on Monday, for Le Pen and eight of her party's members of the European Parliament. The ban from public office will put the brake on plans for Le Pen running in the 2027 presidential election, and she was also given a 100,000 euro fine, and a four-year prison sentence, two years suspended and two to be spent on house arrest, wearing an electronic monitoring tag. The decision has drawn ire from right wing leaders and figureheads across the globe, from the Kremlin, to Hungary’s right-wing Prime Minister Viktor Orban, to Elon Musk and the Trump administration in the U.S., with many throwing their support behind Le Pen. In an interview with French television network TF1, Le Pen herself said the ruling was a "political decision", and promised that in "no way" would she retire from political life as of yet. “I'm not going to let myself be eliminated like this,” she said. "I'm going to pursue whatever le
Politics
Irish officials won't back McGregor's presidential goals
Irish politicians have resoundingly refused to back former MMA fighter Conor McGregor if he tries to run for the nation's presidency. In a new Sky New Survey, 134 of Ireland's 234 Oireachtas (parliament) members were surveyed, with all respondents saying they would not support McGregor. Responses ranged from "I could not think of anyone more unfit" and "I would genuinely rather we didn't have a president at all". Irish parliament is comprised of 174 Teachta Dála (TD), or members of the lower house known as Dáil Éireann, and 60 senators in the house of representative, Seanad Éireann. A total of 104 TDs and 30 senators replied to the Sky News survey question of if they would give McGregor a nomination, with every single response coming back in the negative. McGregor is currently appealing a civil case where a jury found he had raped a woman, and would need the backing of at least 20 Oireachta members, or of four of Ireland's local authorities in order to run. “McGregor has become the cheerleader for misogyny in Ireland… a populist buffoon” said one anonymous Senator. “I genuinely would struggle to think of anyone worse to hold that position,” was the reply from Garret Ahearn, a senator for Fine Gael. Duncan S
Politics
Greenland: 'Let me be clear, the US won't get that' - PM
Greenland's Prime Minister Jens-Frederik Nielsen has hit back at United States President Donald Trump's claims he will “get Greenland”. Nielsen responded to Trump by saying “we’ll get Greenland” while speaking to NBC News, stating in no uncertain terms that this won't happen. "President Trump says that the United States is getting Greenland. Let me be clear: The United States won't get that," Mr Nielsen wrote. “We do not belong to anyone else. We determine our own future.” The U.S. president has repeatedly said he wants to take control of Greenland, a semi autonomous territory of Denmark, for military or strategic purposes, and during a visit to a U.S. military base in the north of Greenland last week, his Vice-President JD Vance accused Denmark of not doing a good job of keeping the island safe. “Our message to Denmark is very simple: you have not done a good job by the people of Greenland," Vance said. "You have underinvested in the people of Greenland and you have underinvested in the security architecture of this incredible, beautiful landmass.” Nielsen, who was sworn in last Friday and is the nation's youngest leader at just 33, wants his country to achieve independence from the Kingdom of Denmark through