By JOSH BOAK, FATIMA HUSSEIN, PAUL WISEMAN and DIDI TANG Associated Press
President Joe Biden says in defending his new tariffs on Chinese products that China's government subsidies ensure its companies don't have to turn a profit, giving them an unfair advantage in global trade. The Democratic president on Tuesday slapped tariffs on Chinese electric vehicles, advanced batteries, solar cells, steel, aluminum and medical equipment — taking potshots at presidential rival Donald Trump along the way as he embraced a strategy that's increasing friction between the world's two largest economies. The Chinese foreign ministry lashed out at the announcement. The tariffs come during a heated campaign between Democrat Biden and Republican predecessor Trump, both of them trying to show who's tougher on China.
Gov. Gavin Newsom says the state's budget deficit is $27.6 billion. The figure Newsom announced Friday is smaller than the deficit he anticipated in January. That's because it doesn't take into account $17.3 billion worth of budget actions he and lawmakers have agreed to take to close the gap. He's now proposing to help balance the budget by eliminating 10,000 vacant state jobs and suspending some business tax deductions. The Democratic governor says some of those cuts will also help balance next year's budget, as state revenues are projected to keep falling. The state Legislature must pass a spending plan by June 15.
The California Supreme Court is weighing whether to remove a measure from the November ballot that would make it harder for the state and local governments to raise taxes. The court heard oral arguments Wednesday on the measure that would require all new and higher taxes to be approved by voters. Right now, the Legislature can raise taxes with a two-thirds vote in both the Senate and Assembly. The initiative would require statewide voters to weigh in after, with the new tax taking effect only if a majority approve it. Opponents say it would curtail revenue needed by communities to fund public services.
By MICHAEL R. SISAK, JENNIFER PELTZ, ERIC TUCKER and JAKE OFFENHARTZ Associated Press
The judge presiding over Donald Trump's hush money trial fined him $1,000 on Monday and warned of jail time for future gag order violations while jurors heard testimony for the first time about the financial reimbursements at the center of the case. The testimony from Jeffrey McConney, the former Trump Organization controller, provided a mechanical but also vital recitation of how the company came to reimburse payments meant to suppress embarrassing stories from surfacing during the 2016 presidential campaign and then record them in internal ledgers as legal expenses in a manner that Manhattan prosecutors said broke the law.
