
President-elect has filled the key posts for his second term in office, prioritizing loyalty to him after he felt bruised and hampered by internal squabbling during his first term. Some of his choices could face difficult confirmation fights in the Senate, even with Republicans in control, and one candidate has already withdrawn from consideration. Chad Chronister, sheriff of Hillsborough County, Florida, pulled his name from consideration to lead the Drug Enforcement Administration just days after being tapped for the post, following backlash from some conservative figures. Here's a look at Trump's choices: Trump would turn a former critic into an ally as the nation's top diplomat. , 53, is a noted hawk on China, Cuba and Iran, and was a finalist to be Trump's running mate before the slot went to JD Vance. Rubio is vice chairman of the Senate Intelligence Committee and a member of the Senate Foreign Relations Committee. His selection punctuates the hard pivot has made with Trump, whom the senator once called a “con man" during his own unsuccessful campaign for the 2016 Republican presidential nomination. Their relationship improved dramatically while Trump was in the White House. , 44, was a co-host of Fox News Channel’s “Fox and Friends Weekend” and had been a contributor with the network since 2014. He developed a friendship with Trump, who made regular appearances on the show. served in the Army National Guard from 2002 to 2021, deploying to Iraq in 2005 and Afghanistan in 2011 and earning two Bronze Stars. He lacks senior military and national security experience and would oversee global crises ranging from Europe to the Middle East. in 2017 by Hegseth after he took her phone, blocked the door to a California hotel room and refused to let her leave, according to a detailed investigative report recently made public. Hegseth told police at the time that the encounter had been consensual and has denied any wrongdoing. , 62, is a former money manager for , a big Democratic donor, and an . He founded the hedge fund Key Square Capital Management after having worked on and off for Soros Fund Management since 1991. If confirmed by the Senate, Bessent would be the nation’s first openly gay treasury secretary. He told Bloomberg in August that he decided to join Trump’s campaign in part to attack the mounting U.S. national debt. That would include slashing government programs and other spending. Gabbard, 43, is a former Democratic House member from Hawaii who has been She unsuccessfully sought the party’s 2020 presidential nomination and left the party in 2022. Gabbard endorsed Trump in August and campaigned often with him. has served in the Army National Guard for more than two decades and deployed to Iraq and Kuwait. If confirmed she would come to the role as an outsider compared to her predecessor. The current director, Avril Haines, spent several years in top national security and intelligence positions. , 59, was Florida's first female attorney general, serving between 2011 and 2019. She was on Trump’s legal team during his first impeachment trial in 2020. Considered , Bondi also has served with the America First Policy Institute, a Trump-allied group that has helped lay the groundwork for his future administration. Bondi was among a group of Republicans who showed up to support Trump at his hush-money criminal trial in New York that ended in May with a conviction on 34 felony counts. A fierce defender of Trump, she also frequently appeared on Fox News and has been critical of the criminal cases against him. The narrowly lost her reelection bid on Nov. 5 but had received strong backing from union members in her district. As a potential labor secretary, Chavez-DeRemer would oversee the department's workforce and budget and put forth priorities that affect workers’ wages, health and safety, ability to unionize, and employer’s rights to fire employers, among other responsibilities. Chavez-DeRemer is one of a few House Republicans to endorse that would allow more workers to conduct organizing campaigns and penalize companies that violate workers’ rights. The act would also weaken “right-to-work” laws in more than half the states. heads the brokerage and investment bank Cantor Fitzgerald and is a cryptocurrency enthusiast. He is co-chair of Trump's transition operation, charged along with Linda McMahon, a former wrestling executive who previously led Trump’s Small Business Administration, with helping the president-elect fill key jobs in his second administration. As secretary, Lutnick would play a key role in carrying out Trump's plans to raise and enforce tariffs. He would oversee a sprawling Cabinet department whose oversight ranges from funding new computer chip factories and imposing trade restrictions to releasing economic data and monitoring the weather. is a well-known conservative who used her two terms as South Dakota's governor to vault to a prominent position in Republican politics. During the COVID-19 pandemic, Noem did not order restrictions like other states, instead declaring South Dakota “open for business.” More recently, faced sharp criticism for writing in her memoir about shooting and killing her dog. She is set to lead a department crucial to the president-elect’s hardline immigration agenda as well as other missions. Homeland Security oversees natural disaster response, the U.S. Secret Service and Transportation Security Administration agents who work at airports. , a former U.S. House member from Texas, was director of national intelligence during the final year and a half of Trump’s first term. He led U.S. government’s spy agencies during the coronavirus pandemic. If confirmed, Ratcliffe will have held the highest intelligence positions in the U.S. , 70, ran for president as a Democrat, then as an independent before he dropped out and . He's the Robert F. Kennedy, who was assassinated in 1968 during his own presidential campaign. Kennedy's nomination alarmed people who are concerned about . For example, he has long advanced the debunked idea that vaccines cause autism. , 52, is president and CEO of the America First Policy Institute, a group helping to lay the groundwork for Trump's second administration. She is a Texas attorney who was Trump's domestic policy adviser and director of his office of American innovation during his first term. previously was an aide to former Texas Gov. , who also served in Trump's first term. Rollins also ran the Texas Public Policy Foundation. is a former House member from Wisconsin who was one of Trump's most visible defenders on cable news. Duffy , sitting on the Financial Services Committee and chairing the subcommittee on insurance and housing. He left Congress in 2019 for a TV career and has been the host of “The Bottom Line” on Fox Business. Before entering politics, Duffy was a reality TV star on MTV, where he met his wife, “Fox and Friends Weekend” co-host Rachel Campos-Duffy. They have nine children. is a former Republican congressman from Georgia who gained recognition for defending Trump during his first impeachment trial. Trump was impeached for urging Ukraine to investigate Joe Biden in 2019 during the Democratic presidential campaign, but was acquitted by the Senate. Collins also served in the armed forces himself. He is a chaplain in the United States Air Force Reserve Command. The , 68, is a former Republican presidential primary contender who endorsed Trump after he dropped out of the running. Burgum then became a serious contender to in part because of his executive experience and business savvy. He also has close ties to deep-pocketed energy industry CEOs. Trump said Burgum would chair a new National Energy Council and have a seat on the National Security Council, which would be a first for the Interior secretary. A campaign donor and CEO of Denver-based Liberty Energy, is a vocal advocate of oil and gas development, including fracking — a key pillar of Trump’s quest to achieve U.S. “energy dominance” in the global market. He also has been one of the industry’s loudest voices against efforts to fight climate change. said the climate movement around the world is “collapsing under its own weight.” The Energy Department is responsible for advancing energy, environmental and nuclear security of the United States. McMahon, , would make a return appearance in a second Trump administration. She led the Small Business Administration from 2017 to 2019 in Trump’s first term and twice ran unsuccessfully in Connecticut as a Republican candidate for the U.S. Senate. She served on the Connecticut Board of Education for a year starting in 2009 and has spent years on the board of trustees for Sacred Heart University. She has expressed support for charter schools and school choice. does not appear to have any experience in environmental issues, but is a longtime supporter of the former president. The 44-year-old former U.S. House member from New York wrote on , “We will restore US energy dominance, revitalize our auto industry to bring back American jobs, and make the US the global leader of AI" and "we will do so while protecting access to clean air and water.” Trump often attacked the Biden administration’s promotion of electric vehicles, and incorrectly referred to a tax credit for EV purchases as a government mandate. Trump also often said his administration would “drill, baby, drill,” referring to his support for expanded petroleum exploration. is a former NFL player and White House aide. He ran the White House Opportunity and Revitalization Council during Trump’s first term in office. Trump, in a statement, credited Turner, the highest-ranking Black person he’s yet selected for his administration, with “helping to lead an Unprecedented Effort that Transformed our Country’s most distressed communities.” is a partner at King & Spalding, a Washington law firm. If confirmed by the Senate, he would be responsible for negotiating directly with foreign governments on trade deals and disputes, as well as memberships in international trade bodies such as the World Trade Organization. He previously was chief of staff to Robert Lighthizer, who was the trade representative in Trump's first term. , 67, was a senior adviser to Trump’s 2024 presidential campaign and its de facto manager. She has a , helping Ron DeSantis win his first race for Florida governor. Six years later, she was key to Trump’s defeat of him in the 2024 Republican primary. Wiles’ hire was Trump’s first major decision as president-elect and one that could be a defining test of his incoming administration considering her close relationship with him. Wiles is said to have earned Trump’s trust in part by guiding what was the most disciplined of Trump’s three presidential campaigns. Waltz is a three-term Republican congressman from east-central Florida. , he served multiple tours in Afghanistan and worked in the Pentagon as a policy adviser when Donald Rumsfeld and Robert Gates were defense chiefs. He is considered hawkish on China, and called for a U.S. boycott of the 2022 Winter Olympics in Beijing due to its involvement in the origin of COVID-19 and its mistreatment of the minority Muslim Uighur population. Hassett, 62, is a major advocate of tax cuts who was chairman of the Council of Economic Advisers in the first Trump term. In the new role as chairman of the National Economic Council, Trump said Hassett will play an important role in helping American families recover from inflation as well as in renewing and improving tax cuts Trump enacted in 2017, many of which are set to expire after 2025. Homan, 62, with Trump’s top priority of carrying out the largest deportation operation in the nation’s history. He led the U.S. Immigration and Customs Enforcement in Trump's first administration. Democrats have criticized Homan for defending Trump’s “zero tolerance” policy on border crossings in the first term, which led to the separation of thousands of parents and children seeking asylum at the border. Vought, 48, held the position during Trump’s first presidency. He the founded the Center for Renewing America, a think tank that describes its mission as “renew a consensus of America as a nation under God.” Vought also was closely involved with , a conservative blueprint for Trump’s second term that Trump tried to distance himself from during the campaign. Miller, an , was a vocal spokesperson during the presidential campaign for Trump’s priority of mass deportations. The 39-year-old was a senior adviser during Trump’s first term. Miller has been a central figure in some of Trump’s policy decisions, notably his move to separate thousands of immigrant families. Trump argued throughout the campaign that the nation’s economic, national security and social priorities could be met by deporting people living illegally in the U.S. Scavino was an adviser in all three of the president-elect's campaigns and was described by the transition team as one of “Trump’s longest serving and most trusted aides." He will be deputy chief of staff and assistant to the president. Scavino previously ran Trump’s social media profile in the White House. Blair was political director for Trump’s 2024 campaign and for the Republican National Committee. He will be deputy chief of staff for legislative, political and public affairs and an assistant to the president. Blair was key to Trump’s economic messaging during his winning White House comeback campaign. Budowich is a veteran Trump campaign aide who launched and directed Make America Great Again, Inc., a super PAC that supported Trump’s 2024 campaign. He will be deputy chief of staff for communications and personnel and assistant to the president. , 27, was Trump's campaign press secretary and currently a spokesperson for his transition. She would be the youngest White House press secretary in history. Leavitt worked in the White House press office during Trump's first term. In 2022, winning a 10-way Republican primary before losing to Democratic Rep. Chris Pappas. McGinley was Cabinet secretary during Trump's first administration and was outside legal counsel for the Republican National Committee's election integrity effort during the 2024 campaign. Patel spent several years as a Justice Department prosecutor before catching the Trump administration’s attention as a staffer on Capitol Hill who helped investigate the Russia probe. Patel has called for dramatically reducing the agency’s footprint, a perspective that sets him apart from earlier directors who have sought additional resources for the bureau. And though the Justice Department in 2021 during leak investigations, Patel has said he intends to aggressively hunt down government officials who leak information to reporters. The 67-year-old Witkoff is the president-elect's golf partner and they were golfing at Trump's club in West Palm Beach, Florida, on Sept. 15, when the former president was the target of a second attempted assassination. Trump also named Witkoff co-chair, with former Georgia Sen. Kelly Loeffler, of his inaugural committee. , 80, is a highly decorated retired three-star general and one of the architects of a staunchly conservative policy book that lays out an for Trump's second term. He has long been Trump’s top adviser on defense issues and served as national security adviser to Vice President . Kellogg also was chief of staff of the National Security Council under Trump and stepped in as an acting national security adviser for Trump after resigned the post. Huckabee is a and his intended nomination comes as Trump has promised to align U.S. foreign policy more closely with Israel's interests. Huckabee, who ran unsuccessfully for the Republican presidential nomination in 2008 and 2016, has been a popular figure among evangelical Christian conservatives, many of whom support Israel due to Old Testament writings that Jews are God’s chosen people and that Israel is their rightful homeland. Huckabee has rejected a Palestinian homeland in territory occupied by Israel. His daughter, Sarah Huckabee Sanders, served as White House press secretary in Trump's first term. Stefanik, 40, is a U.S. and one of Trump's staunchest defenders dating to his first impeachment trial. She was elected chair of the House Republican Conference in 2021, the third-highest position in House leadership, after then-Rep. Liz Cheney was removed from the post after she publicly criticized Trump for falsely claiming he won the 2020 election. Stefanik’s questioning of university presidents over antisemitism on their campuses helped lead to two of those presidents resigning, further raising her national profile. A former acting attorney general during Trump's first administration and tight end on the University of Iowa football team, , 55, has a background in law enforcement but not in foreign policy. A fierce Trump localist, Whitaker, is also a former U.S. attorney in Iowa and served as acting attorney general between November 2018 and February 2019 without Senate confirmation, until William Barr was confirmed for the role. That was when was drawing to a close. Whitaker also faced questions about his past business dealings, including his ties to an invention-promotion company that was accused of misleading consumers. A Republican congressman from Michigan who served from 1993 to 2011, Hoekstra was ambassador to the Netherlands during Trump's first term. , 64, is a former heart surgeon who hosted “The Dr. Oz Show,” a long-running daytime TV talk show. He ran unsuccessfully for the U.S. Senate as the Republican nominee in 2022 and is an outspoken supporter of Trump, who endorsed Oz’s bid for elected office. is a Johns Hopkins surgeon and author who argued against pandemic lockdowns. He routinely appeared on Fox News during the COVID-19 pandemic and wrote opinion articles questioning masks for children. He cast doubt on vaccine mandates but supported vaccines generally. Makary also cast doubt on whether booster shots worked, which was against federal recommendations on the vaccine. Nesheiwat is a general practitioner who serves as medical director for CityMD, a network of urgent care centers in New York and New Jersey. She has been a contributor on Fox News. is a former Florida congressman who recently ran for a Florida state legislative seat and lost; Trump backed Weldon’s opponent. In Congress, Weldon weighed in on one of the nation’s most heated debates of the 1990s over quality of life and a right-to-die and whether Terri Schiavo, who was in a persistent vegetative after cardiac arrest, state should have been allowed to have her feeding tube removed. He sided with the parents who did not want it removed. , 56, is a critic of pandemic lockdowns and vaccine mandates. As head of the NIH, the leading medical research agency in the United States, Trump said Bhattacharya would work with Kennedy Jr. to direct U.S. medical research and make important discoveries that will improve health and save lives. Bhattacharya is professor at Stanford University School of Medicine and was one of three authors of the Great Barrington Declaration, an October 2020 open letter maintaining that lockdowns during the COVID-19 pandemic were causing irreparable harm. Chronister removed himself from consideration to lead the nation's top controlled substances enforcement agency, just days after being tapped for the post. Trump's announcement that he would nominate Chronister, who has worked for the Hillsborough County Sheriff’s Office since 1992, was met with backlash from some conservative figures over his enforcement of lockdown measures during the COVID-19 pandemic, and his past comments he made that his sheriff’s office was not focused on enforcing federal immigration laws. Gaetz, 42, to become the top law enforcement officer of the United States amid fallout over a that cast doubt on his ability to be confirmed by the Senate. In choosing Gaetz, Trump had passed over more established lawyers whose names had been floated as possible contenders for the job. Gaetz resigned from Congress after Trump announced him on Nov. 13. The House Ethics Committee has been investigating an allegation that he paid for sex with a 17-year-old. Gaetz has denied wrongdoing. Associated Press writers Colleen Long, Zeke Miller, Farnoush Amiri, Lolita C. Baldor, Jill Colvin, Matthew Daly, Edith M. Lederer, Adriana Gomez Licon, Lisa Mascaro, Chris Megerian, Michelle L. Price, Will Weissert, Meg Kinnard and Darlene Superville contributed to this report.
(Bloomberg) — US President-elect Donald Trump warned the so-called BRICS nations that he would require commitments that they would not move to create a new currency as an alternative to using the US dollar and repeated threats to levy a 100% tariff. “The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER,” Trump said in a post to his Truth Social network on Saturday. “We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy,” he added. Trump on his campaign trail pledged that he would make it costly for countries to move away from the US dollar. And he’s threatened to use tariffs to ensure they complied. Saturday’s threat took on new relevance as the president-elect prepares to retake power in January. Trump and his economic advisers have been discussing ways to punish allies and adversaries alike who seek to engage in bilateral trade in currencies other than the dollar. Those measures include considering options such as export controls, currency manipulation charges and levies on trade, according to people familiar with the matter. Trump has long stressed that he wants the US dollar to remain the world’s reserve currency, saying in a March interview with CNBC that he “would not allow countries to go off the dollar” because it would be “a hit to our country.” The BRICS nations — as Brazil, Russia, India, China and South Africa are collectively known — discussed the issue of de-dollarization at a summit in 2023. Backlash against the dollar’s dominance gained traction in 2022 when the US led efforts to impose economic sanctions on Russia. Economic advisers to Trump and his campaign have spoken in particular about targeting the BRICS effort. Earlier: Trump Aides Discuss Penalties for Nations That De-Dollarize “There is no chance that the BRICS will replace the U.S. Dollar in International Trade, and any Country that tries should wave goodbye to America,” Trump said Saturday. The president-elect has already rattled world markets ahead of his second term with threats to levy an additional 10% tariffs on goods from China and 25% tariffs on all products from Mexico and Canada if those countries do not do more to stem the flow of illegal drugs and undocumented migrants across US borders. Canadian Prime Minister Justin Trudeau met with Trump on Friday to discuss trade and border issues in a bid to tamp down tensions between the two allied nations after the tariff threat.
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WASHINGTON (AP) — President Joe Biden faces a stark choice as he contemplates broad preemptive pardons to protect aides and allies from potential retribution by Donald Trump: Does he hew to the institutional norms he’s spent decades defending or flex the powers of the presidency in untested ways? The deliberations so far are largely at the level of White House lawyers. But the president has discussed the topic with senior aides, according to two people familiar with the matter who spoke on condition of anonymity to discuss the sensitive subject. No decisions have been made, the people said, and it is possible Biden opts to do nothing at all. Biden is taking the idea seriously and has been thinking about it for as much as six months — before the presidential election — but has been concerned about the precedent it would set, according to another person familiar with the president’s discussions who spoke to The Associated Press on condition of anonymity. Pardons are historically afforded to those accused of specific crimes –- and usually to those who have already been convicted of an offense — but Biden’s team is considering issuing them for some who have not even been investigated, let alone charged. The president could, if he chooses, issue blanket pardons to specific people whom Trump and his allies have threatened to punish. Or he could pardon a broad class of people — not unlike pardons issued to those convicted of federal marijuana offenses or those ensnared in the “don't ask, don't tell” military policies. Either way, he'd be using the powers of the presidency in a new way. Some worry that Trump and his allies, who have talked of enemies lists and exacting “retribution,” could launch investigations that would be reputationally and financially costly for targeted people even if they don’t result in prosecutions. The door has already been opened, given that Biden has extended a broad pardon to his son, Hunter , who was convicted and pleaded guilty in tax and gun cases. Biden explained that decision by saying he believed the prosecution of his son had been poisoned by politics. White House press secretary Karine Jean-Pierre said Friday that Biden plans additional pardons before leaving office though she would not elaborate on the process. She repeatedly referenced “changing factors” that motivated the president to pardon his son despite promising he wouldn’t. She said Republicans have continued to try to see Hunter Biden investigated for an array of alleged offenses, a rationale that could support additional pardons for Biden aides and allies. It was two weeks ago that one of the president’s closest allies in Congress, Rep, Jim Clyburn of South Carolina, encouraged Biden to pardon his son Hunter. The morning after that conversation, Clyburn told Biden’s staff that he believed the president should also pardon those being targeted by Trump. “I was very forceful in my discussions with him about what I thought he ought to do regarding his son,” Clyburn said Friday. “But I also told them that I thought he ought to go even further, because all the noise about Jack Smith and Liz Cheney and Doctor Fauci and all of that.” Special Counsel Jack Smith has been investigating Trump for his efforts to overturn the 2020 presidential election and for accusations he hoarded classified documents at his home. Liz Cheney, a conservative Republican , was the vice chairwoman of the congressional committee investigating the Jan. 6, 2021, Capitol insurrection and campaigned for Vice President Kamala Harris. Fauci, an infectious disease expert, was instrumental in the government's response to the coronavirus. All have raised the ire of Trump. Clyburn said he told Biden’s team, only half jokingly, that because the Supreme Court has already said that the president has certain immunities, “let’s give that same immunity to Jack Smith for carrying out his duties and to, Doctor Fauci, Liz Cheney, they were carrying out their duties.” Among those mentioned publicly for possible presidential pardons, there are different sentiments on whether pardons would even be wanted. Former House Speaker Nancy Pelosi supported the president’s move to pardon his son, but has been silent on the speculation that Biden is considering additional pardons for her or others. A top Pelosi ally, Rep. Adam Schiff, the Democratic congressman who led Trump’s first impeachment, has panned the idea of pardoning Biden's allies. He says “the courts are strong enough to withstand” the worst of Trump’s threats. “I don’t think a preemptive pardon makes sense,” the incoming senator told NPR recently. “I would urge the president not to do that. I think it would seem defensive and unnecessary,” Schiff said. Democratic Rep. Jamie Raskin, who was the lead manager on Trump’s second impeachment, on the charge of inciting the Jan. 6, 2021, insurrection at the Capitol, said members of Congress already are protected by the speech and debate clause in the Constitution, which protects them prosecution for participating in their legislative duties. Raskin said figures like Mark Milley, the former chairman of the Joint Chiefs of Staff, and John Kelly , Trump's former White House chief of staff, would similarly be protected by the First Amendment. But Raskin said the question is, “Should they go through the criminal investigation and prosecution for not doing anything wrong? I think that’s why this whole issue has erupted.” Raksin added that with Trump promising to pardon hundreds of people who assaulted police officers on Jan. 6th, “I can hardly fault President Biden for exploring the use of the pardon to protect people from a fraudulent and unjust prosecution.” House Democratic Leader Hakeem Jeffries said he’s had no conversations with the White House regarding any preemptive pardons for current or former members of Congress. Associated Press Writers Kevin Freking and Lolita C. Baldor contributed to this report.
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They come in long convoys of tractors, sometimes with months of food supplies with them, to stage protests. Their demands may differ, but concerns about rising costs and falling incomes are common. Farmer angst around the world has been intensifying since 2021, from Paris and London to Delhi . And increasingly, their protests have started looking similar. In London, hundreds of farmers stormed Britain’s heart of government, Whitehall, this week, protesting a proposed 20% inheritance tax they say will be a stab in their backs. Their angst reflects broader dissatisfaction among many farming communities around the world, especially since the pandemic, including in India and mainland Europe. According to the Centre for International Policy Studies, dozens of farm groups in six continents have been protesting agricultural policies since 2021. Read more: SC panel ready with list of issues affecting farm sector The London scenes brought back memories of a standoff outside Delhi, where an uprising by farm unions during 2020-21 prompted the government to scrap three market-oriented agricultural laws. There are other echoes of Delhi in London. “No farmers, no food,” said a protester on BBC. Another held a placard: “Small farmers will die. They’ll have to borrow to pay tax.” “Tax businesses not farms. A 20% inheritance tax? It’s ridiculous, if you ask me,” said Sarah Boulden, a farmer from Wiltshire, southwest England. These concerns are similar to the core issues raised by farmers in food bowl states, such as Punjab. “The reasons vary. The demands differ. But what may be common (about the disenchantment) is the feeling that governments don’t realise the old ways are gone, and the new problems are new,” said Jeremy Clark, a London-based campaigner with the World Farmers’ Organisation (WFO), over phone on Wednesday. The latest challenges all over the world, to a large extent, have emanated from changing markets, declining profits and climate change, resulting in a “unappreciated crises”, Clark said. The protest in London was joined by celebrity TV presenter Jeremy Clarkson and James Dyson, a prominent business tycoon who supported Brexit. Farm unions in India, the world’s second-biggest wheat and rice producer, are seeking guarantees, backed by law, for minimum purchase prices of crops. In Europe, farmers in Netherlands, Poland, Spain, Italy and France etc. have driven tractors across their countries to protest curbs on how much fertilisers they can use and even how many acres they can sow. The new EU measures are part of concerted steps being taken to meet climate and emission goals. Subsidies for crop inputs are being slashed. In India, experts say subsidies alone haven’t been enough for producers to keep up with cultivation costs. Farmers have also become politically savvy. “In Europe, the protests were held in the run-up to the EU parliamentary polls, while in India too farmers were seen intensifying protests ahead of major elections,” said Mukul Paranjape, a researcher with the Indian Institute of Technology Bombay. While India doesn’t tax farm income, cultivators have long claimed they never get federally fixed floor prices for many commodities. Studies have shown that Indian farmers are “net taxed” or implicitly taxed due to the government’s efforts to keep food prices low. India’s agriculture sector hasn’t been generating enough revenues to keep farmers profitable for nearly two decades, according to a landmark 2018 report by the Organisation of Economic Cooperation and Development (OECD), a grouping of 36 countries, and ICRIER, a think tank. The study looked at, among others indices, gross receipts — or total assets without adjusting for expenses— to the farm sector. Agriculture in India suffers negative total revenues despite large subsidies because of missed income opportunities due to frequent export bans and prohibition on stockpiling. So, prices paid by farmers have outstripped prices earned by them. Farm movements aren’t new. The Farmers’ Alliance, an American agrarian movement during the 1870s, sought to improve the economic conditions through collective bargaining through cooperatives and political advocacy. Cultivators in the US then faced similar problems as those in developing economies, such as India, a country with excess farm labour and small landholdings. Small land parcels typically lack economies of scale, which refers to falling costs with rising production. In January 1979, nearly 5000 farmers drove tractors to Washington, D.C., in a movement known as tractorcade to protest the Carter administration’s foreclosure of all loans, just as north Indian farmers had done in Delhi in January 2021, a protest that had turned violent. The group that led the rebellion, Sanyukt Kisan Morcha, has planned a renewed phase of protests from next month with their old demand: guaranteed floor prices. The Union government announces minimum support prices for more than 20 crops to set a floor rate, so that farmers get a basic price assurance. However, government agencies buy only rice and wheat at the assured rates in sufficiently large quantities, which means several other produce, such as soyabean, groundnut, mustard, millets, lentils and maize etc, are sold for any price depending on what the markets offer. “These problems are not unique to India in the sense that European farmers think that regulations to make farming environment-friendly will hit their earnings. It’s ultimately an income issue,” Paranjape said. The centre-left Kier Starmer government will levy, from April 2026, a 20% tax on inherited agricultural assets worth more than £1m, which were previously exempt. Still, this is half the non-farm inheritance tax rate. The argument for inheritance tax has been influential, especially after radical French economist Thomas Picketty published his book “Capital in the Twenty-First Century”, which called for “confiscatory” tax on inherited wealth to cut down inequality. Picketty, who marshalled centuries of data, argued that wages will always rise at a far slower pace than earnings from assets and profits, forever increasing the gap between rich and poor. His solution is a globally coordinated wealth tax, so that rich asset owners can’t relocate their assets to tax havens. In a recent paper, Picketty suggested a similar tax for India. “Raise phenomenally large tax revenues while leaving 99.96 per cent of the adults unaffected by the tax. In a baseline scenario, a 2 per cent annual tax on net wealth exceeding ₹ 10 crore and a 33 per cent inheritance tax on estates exceeding ₹ 10 crore in valuation would generate a massive 2.73 per cent of Gross Domestic Product (GDP) in revenues,” his India paper suggested. In the UK, the farm inheritance tax will similarly apply on big-ticket estates worth more £1 million. However, farmers say that while they are “asset rich” in terms of their land, many are cash poor. Clarks said that many farmers would be forced to sell their estates. “Farmers don’t mind paying taxes. Bring them on provided farmers can earn profits that can match non-farm earnings,” Clarks said. Rising costs of cultivation are a common concern across farming communities. According to Britain’s agriculture department, there are about 210,000 farm estates worth £1 million or more that could be subjected to the inheritance tax. Clarks says piggery costs have risen by 54%, cattle rearing by 44% and grain farming by 43% due to higher food, fuel and fertiliser prices because subsidies have been declining since Brexit. An average farm last year made profits of about £45,300, according to government estimates. But farmers say this an exaggerated estimate because it excluded farms with lower earnings. In India too, farmers complain of rising costs and uncertainties from extreme weather. India sets inflation-indexed minimum support prices such that they give one-and-a-half times profit over costs. However, cultivators want these prices to be legally enforceable. Moreover, they want the government to use a broader measure of cultivation costs. The government uses the so-called “A2” formula, a narrower measure that includes all out-of-pocket expenses, plus the value of family labour. Farmers instead want the government to use the “C2 formula”, which includes the actual paid-out costs (on seeds, fertilisers, irrigation, etc) plus the notional value of family labour and rent, besides interest on owned land and capital. “Agriculture worldwide is on its knees. Farmers have reached the end of the rope,” Clark said. This is what Indian farmers allege too. There’s a sense of a rupture in the “social contract” between farmers and governments.
Diontae Johnson is heading to the Houston Texans after being claimed on waivers, but another AFC contender was interested in adding the former Pro Bowl receiver. The Baltimore Ravens waived Johnson on Friday, marking the end of his brief and uneventful tenure with the team. The decision follows a series of incidents, including Johnson’s in the Dec. 1 game against the Philadelphia Eagles, which led to his suspension for one game. Additionally, he was excused from team activities during the week leading up to his release. Javascript is required for you to be able to read premium content. Thanks for the feedback.
NEW YORK--(BUSINESS WIRE)--Dec 6, 2024-- Certain BlackRock closed-end funds (the “Funds”) announced distributions today as detailed below. Declaration- 12/6/2024 Ex-Date- 12/16/2024 Record- 12/16/2024 Payable- 12/31/2024 National Funds Ticker Distribution Change From Prior Distribution * BYM $0.055500 - * BTA $0.049500 - .* MUA $0.055500 - * MUI $0.055000 - * BFK $0.050000 - * BKN $0.057000 - * BLE $0.054000 - BTT $0.046400 - * MHD $0.059500 - * MQT $0.051000 - .* MQY $0.058000 - * MUE $0.051000 - * MVT $0.054000 - .* MYD $0.054500 - * MYI $0.055500 - * MVF $0.036000 - BMN $0.093750 - State-Specific Funds Ticker Distribution Change From Prior Distribution * MUC $0.053500 - * BFZ $0.059000 - .* MIY $0.054500 - * MUJ $0.054000 - * MHN $0.051500 - * MYN $0.051200 - * BNY $0.051000 - * MPA $0.066000 - * BHV $0.051500 - Declaration- 12/6/2024 Ex-Date- 12/16/2024 Record- 12/16/2024 Payable- 12/23/2024 Fund Ticker Distribution Change From Prior Distribution * BBN $0.092900 - Declaration- 12/6/2024 Ex-Date- 12/16/2024 Record- 12/16/2024 Payable- 12/23/2024 Fund Ticker Distribution Change From Prior Distribution * BGT $0.120280 - * BHK $0.074600 - * BIT $0.123700 - * BKT $0.088200 - * BLW $0.113200 - * BTZ $0.083900 - * DSU $0.098730 - .* EGF $0.041000 - * FRA $0.123840 - * HYT $0.077900 - Declaration- 12/6/2024 Ex-Date- 12/16/2024 Record- 12/16/2024 Payable- 12/23/2024 Fund Ticker Distribution Change From Prior Distribution BMEZ $0.178090 0.001190 BSTZ $0.218000 0.002510 * BIGZ $0.086760 0.000430 Declaration- 12/6/2024 Ex-Date- 12/16/2024 Record- 12/16/2024 Payable- 12/23/2024 Fund Ticker Distribution Change From Prior Distribution BCAT $0.289190 0.000650 * ECAT $0.306840 0.001810 * In order to comply with the requirements of Section 19 of the Investment Company Act of 1940, as amended (the “1940 Act”), each of the Funds noted above posted to the DTC bulletin board and sent to its shareholders of record as of the applicable record date a Section 19 notice with the previous distribution payment. The Section 19 notice was provided for informational purposes only and not for tax reporting purposes. This information can be found in the “Closed-End Funds” section of . As applicable, the final determination of the source and tax characteristics of all distributions in 2024 will be made after the end of the year. BlackRock Capital Allocation Term Trust (NYSE: BCAT), BlackRock ESG Capital Allocation Term Trust (NYSE: ECAT), BlackRock Science and Technology Term Trust (NYSE: BSTZ), BlackRock Health Sciences Term Trust (NYSE: BMEZ) and BlackRock Innovation and Growth Term Trust (NYSE: BIGZ) have adopted a managed distribution plan (a “Plan”) to support a level monthly distribution of income, capital gains and/or return of capital, or in the case of BMEZ, BSTZ, BIGZ, ECAT and BCAT a monthly distribution based on an annual rate of 12% (for BMEZ, BSTZ and BIGZ) and 20% (for ECAT and BCAT) of the Fund’s 12-month rolling average daily net asset value calculated 5 business days prior to declaration date of each distribution. The December 2024 distribution for each of BMEZ, BSTZ, BIGZ, ECAT and BCAT was calculated based on the average net asset value from 11/28/2023 to 11/27/2024. Below are the 12-month rolling average daily net asset values used to calculate BMEZ, BSTZ, BIGZ, ECAT and BCAT’s December distributions: BMEZ: $17.808095 BSTZ: $21.799921 BIGZ: $8.675040 ECAT: $18.410000 BCAT: $17.351032 Under its Plan, each Fund will distribute all available investment income to its shareholders, consistent with its investment objectives and as required by the Internal Revenue Code of 1986, as amended (the “Code”). If sufficient income (inclusive of net investment income and short-term capital gains) is not available on a monthly basis, a Fund will distribute long-term capital gains and/or return capital to its shareholders in order to maintain a level distribution. Each Fund’s estimated sources of the distributions paid as of November 29, 2024 and for its current fiscal year are as follows: Fund Distribution Net Income Net Realized Short-Term Gains Net Realized Long-Term Gains Return of Capital BMEZ 1 $0.176900 $0 (0%) $0 (0%) $0 (0%) $0.176900 (100%) BSTZ 1 $0.215490 $0 (0%) $0 (0%) $0 (0%) $0.215490 (100%) BIGZ 1 $0.086330 $0 (0%) $0 (0%) $0 (0%) $0.086330 (100%) BCAT 1 $0.288540 $0.032627 (11%) $0 (0%) $0 (0%) $0.255913 (89%) ECAT 1 $0.305030 $0.015937 (5%) $0 (0%) $0 (0%) $0.289093 (95%) Fund Distribution Net Income Net Realized Short-Term Gains Net Realized Long-Term Gains Return of Capital BMEZ 1 $1.512960 $0.040694 (3%) $0 (0%) $0 (0%) $1.472266 (97%) BSTZ 1 $1.801010 $0 (0%) $0 (0%) $0.619326 (34%) $1.181684 (66%) BIGZ 1 $0.747140 $0 (0%) $0 (0%) $0 (0%) $0.747140 (100%) BCAT 1 $2.359050 $0.244754 (10%) $0 (0%) $0 (0%) $2.114296 (90%) ECAT 1 $2.554050 $0.163438 (6%) $0 (0%) $0 (0%) $2.390612 (94%) 1 The Fund estimates that it has distributed more than its income and net-realized capital gains in the current fiscal year; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the shareholder’s investment is paid back to the shareholder. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with ‘yield’ or ‘income’. When distributions exceed total return performance, the difference will reduce the Fund’s net asset value per share. Fund Average annual total return (in relation to NAV) for the 5-year period ending on 10/31/2024 Annualized current distribution rate expressed as a percentage of NAV as of 10/31/2024 Cumulative total return (in relation to NAV) for the fiscal year through 10/31/2024 Cumulative fiscal year distributions as a percentage of NAV as of 10/31/2024 BMEZ* 5.15% 12.30% 4.83% 7.74% BSTZ 11.57% 11.80% 11.18% 7.24% BIGZ* (14.24%) 12.60% (0.66%) 8.04% BCAT* 4.90% 20.66% 10.23% 12.35% ECAT* 6.70% 20.43% 12.89% 12.55% * Portfolio launched within the past 5 years; the performance and distribution rate information presented for this Fund reflects data from inception to 10/31/2024. BlackRock Enhanced Government Fund, Inc. (NYSE: EGF), BlackRock Debt Strategies Fund, Inc. (NYSE: DSU), BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE: FRA), BlackRock Floating Rate Income Trust (NYSE: BGT), BlackRock Corporate High Yield Fund, Inc. (NYSE: HYT), BlackRock Credit Allocation Income Trust (NYSE: BTZ), BlackRock Limited Duration Income Trust (NYSE: BLW), BlackRock Core Bond Trust (NYSE: BHK), BlackRock Multi-Sector Income Trust (NYSE: BIT), BlackRock Income Trust, Inc. (NYSE: BKT) and BlackRock Taxable Municipal Bond Trust (NYSE: BBN) have adopted a Plan to support a level monthly distribution of income, capital gains and/or return of capital. Under its Plan, each Fund will distribute all available net income to its shareholders, consistent with its investment objectives and as required by the Code. If sufficient income (inclusive of net investment income and short-term capital gains) is not available on a monthly basis, a Fund will distribute long-term capital gains and/or return capital to its stockholders in order to maintain a level distribution. Each of the above-listed Funds is currently not relying on any exemptive relief from Section 19(b) of the Investment Company Act of 1940, as amended (the “1940 Act”). Each Fund expects that distributions under the Plan will exceed current income and capital gains and therefore will likely include a return of capital. Each Fund may make additional distributions from time to time, including additional capital gain distributions at the end of the taxable year, if required to meet requirements imposed by the Code and/or the 1940 Act. Each Fund’s estimated sources of the distributions paid as of November 29, 2024 and for its current fiscal year are as follows: Fund Distribution Net Income Net Realized Short-Term Gains Net Realized Long-Term Gains Return of Capital EGF 2 $0.041000 $0.030660 (75%) $0 (0%) $0 (0%) $0.010340 (25%) BKT 2 $0.088200 $0.040551 (46%) $0 (0%) $0 (0%) $0.047649 (54%) DSU 2 $0.098730 $0.077696 (79%) $0 (0%) $0 (0%) $0.021034 (21%) FRA 2 $0.123840 $0.096014 (78%) $0 (0%) $0 (0%) $0.027826 (22%) BBN 2 $0.092900 $0.084923 (91%) $0 (0%) $0 (0%) $0.007977 (9%) BGT 2 $0.120280 $0.091087 (76%) $0 (0%) $0 (0%) $0.029193 (24%) HYT 2 $0.077900 $0.065724 (84%) $0 (0%) $0 (0%) $0.012176 (16%) BTZ 2 $0.083900 $0.060993 (73%) $0 (0%) $0 (0%) $0.022907 (27%) BLW 2 $0.113200 $0.099226 (88%) $0 (0%) $0 (0%) $0.013974 (12%) BHK 2 $0.074600 $0.048859 (65%) $0 (0%) $0 (0%) $0.025741 (35%) BIT 2 $0.123700 $0.083688 (68%) $0 (0%) $0 (0%) $0.040012 (32%) Fund Distribution Net Income Net Realized Short-Term Gains Net Realized Long-Term Gains Return of Capital EGF 2 $0.451000 $0.331478 (73%) $0 (0%) $0 (0%) $0.119522 (27%) BKT 2 $0.970200 $0.375393 (39%) $0 (0%) $0 (0%) $0.594807 (61%) DSU 2 $1.086030 $0.814092 (75%) $0 (0%) $0 (0%) $0.271938 (25%) FRA 2 $1.362240 $1.085287 (80%) $0 (0%) $0 (0%) $0.276953 (20%) BBN 2 $1.021900 $0.834551 (82%) $0 (0%) $0 (0%) $0.187349 (18%) BGT 2 $1.323080 $0.982460 (74%) $0 (0%) $0 (0%) $0.340620 (26%) HYT 2 $0.856900 $0.660644 (77%) $0 (0%) $0 (0%) $0.196256 (23%) BTZ 2 $0.922900 $0.620538 (67%) $0 (0%) $0 (0%) $0.302362 (33%) BLW 2 $1.213400 $1.026867 (85%) $0 (0%) $0 (0%) $0.186533 (15%) BHK 2 $0.820600 $0.519873 (63%) $0 (0%) $0 (0%) $0.300727 (37%) BIT 2 $1.360700 $0.846067 (62%) $0 (0%) $0 (0%) $0.514633 (38%) 2 The Fund estimates that it has distributed more than its income and net-realized capital gains in the current fiscal year; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the shareholder’s investment is paid back to the shareholder. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with ‘yield’ or ‘income’. When distributions exceed total return performance, the difference will reduce the Fund’s net asset value per share. Fund Average annual total return (in relation to NAV) for the 5-year period ending on 10/31/2024 Annualized current distribution rate expressed as a percentage of NAV as of 10/31/2024 Cumulative total return (in relation to NAV) for the fiscal year through 10/31/2024 Cumulative fiscal year distributions as a percentage of NAV as 10/31/2024 EGF (1.59%) 4.90% 1.39% 4.08% BKT (1.52%) 8.78% 1.76% 7.32% DSU 6.42% 11.08% 7.55% 9.24% FRA 6.63% 11.46% 7.56% 9.55% BBN (0.57%) 6.35% 2.66% 5.29% BGT 6.71% 11.42% 7.65% 9.52% HYT 5.53% 9.61% 8.34% 8.01% BTZ 2.98% 8.81% 6.47% 7.34% BLW 4.81% 9.62% 8.22% 7.79% BHK (0.49%) 8.45% 2.97% 7.04% BIT 5.58% 10.16% 7.65% 8.47% Each Plan will be subject to ongoing review by the Board to determine whether the Plan should be continued, modified or terminated. The Board may amend the terms of a Plan or suspend or terminate a Plan at any time without prior notice to the Fund’s shareholders if it deems such actions to be in the best interest of the Fund or its shareholders. The amendment or termination of a Plan could have an adverse effect on the market price of the Fund's shares. BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit BlackRock will update performance and certain other data for the Funds on a monthly basis on its website in the “Closed-end Funds” section of as well as certain other material information as necessary from time to time. Investors and others are advised to check the website for updated performance information and the release of other material information about the Funds. This reference to BlackRock’s website is intended to allow investors public access to information regarding the Funds and does not, and is not intended to, incorporate BlackRock’s website in this release. This press release, and other statements that BlackRock or a Fund may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to a Fund’s or BlackRock’s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions. BlackRock cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and BlackRock assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance. With respect to the Funds, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Funds or in a Fund’s net asset value; (2) the relative and absolute investment performance of a Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, and regulatory, supervisory or enforcement actions of government agencies relating to a Fund or BlackRock, as applicable; (8) terrorist activities, international hostilities, health epidemics and/or pandemics and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or BlackRock; (9) BlackRock’s ability to attract and retain highly talented professionals; (10) the impact of BlackRock electing to provide support to its products from time to time; and (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions. Annual and Semi-Annual Reports and other regulatory filings of the Funds with the Securities and Exchange Commission (“SEC”) are accessible on the SEC's website at and on BlackRock’s website at , and may discuss these or other factors that affect the Funds. The information contained on BlackRock’s website is not a part of this press release. View source version on : 1-800-882-0052 KEYWORD: NEW YORK UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: ASSET MANAGEMENT PROFESSIONAL SERVICES FINANCE SOURCE: BlackRock Closed-End Funds Copyright Business Wire 2024. PUB: 12/06/2024 04:56 PM/DISC: 12/06/2024 04:56 PM
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NoneDavid Coote will not appeal against the termination of his contract by referees’ body PGMOL, the PA news agency understands. Coote was sacked earlier this month after the emergence of a video in which he made derogatory remarks about Liverpool and their former manager Jurgen Klopp. Professional Game Match Officials Limited (PGMOL) said that a thorough investigation had concluded he was “in serious breach of the provisions of his employment contract, with his position deemed untenable”. “Supporting David Coote continues to be important to us and we remain committed to his welfare,” PGMOL’s statement on December 9 added. Coote had the right to appeal against the decision but PA understands the Nottinghamshire referee has decided not to. The video which triggered PGMOL’s investigation into Coote’s conduct first came to public attention on November 11. In it, Coote is asked for his views on a Liverpool match where he has just been fourth official, and describes them as “s***”. He then describes Klopp as a “c***”, and, asked why he felt that way, Coote says the German had “a right pop at me when I reffed them against Burnley in lockdown” and had accused him of lying. “I have got no interest in speaking to someone who’s f****** arrogant, so I do my best not to speak to him,” Coote said. Later in the video, Coote again refers to Klopp, this time as a “German c***”. The Football Association opened its own investigation into that video, understood to be centred on that last comment and whether Coote’s reference to Klopp’s nationality constituted an aggravated breach of its misconduct rules. The investigation by PGMOL which led to Coote’s contract being terminated is also understood to have looked at another video which appeared to show Coote snorting a white powder, purportedly during Euro 2024 where he was one of the assistant VARs for the tournament. European football’s governing body UEFA also appointed an ethics investigator to look into the matter. We do not moderate comments, but we expect readers to adhere to certain rules in the interests of open and accountable debate.