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AXIOS (Josephine Walker) - Trump revives dormant Smoot-Hawley authority

President Trump is invoking an unused provision of the 1930 Smoot-Hawley Tariff Act to impose additional tariffs on Canada over alleged discrimination against U.S. exports. Why it matters: As the Supreme Court limits Trump's ability to wield tariffs and a temporary tariff stopgap expires, the president is turning to a rarely used tariff authority. - While the Smoot-Hawley Act is often blamed for worsening the Great Depression, this provision went unused — until now. Driving the news: Trump on Monday announced an additional 50% tariff on select Canadian imports that would take effect in August under Section 338 of the Tariff Act of 1930, better known as the Smoot-Hawley Tariff Act after its congressional sponsors. - The…

What were the historical economic impacts of the original Smoot-Hawley Tariff Act?
The act increased the average tariff rate by about 20% and led roughly two dozen countries to protest or retaliate with their own tariffs within two years. One significant impact was on the U.S. auto manufacturing industry, where countries cut imports of American-made cars by roughly 46% according to a National Bureau of Economic Research report. While the tariffs had a "relatively minor" effect on overall U.S. GDP, the resulting slowdown in global trade deepened the economic downturn during the Great Depression.
Q&A ID 32a58499-c199-42ac-b69f-69b1f8b317bc
What was the original purpose of the Smoot-Hawley Tariff Act of 1930?
Originally passed by Congress to protect American farmers from lower-priced imports, the act was later expanded to cover a broad range of manufactured goods. It was signed into law by President Hoover on June 17, 1930.
Q&A ID c9130df0-9b67-4374-be44-d6401327935e
Why is President Trump turning to the Section 338 provision of the Smoot-Hawley Tariff Act?
The president is turning to this rarely used tariff authority because the Supreme Court has limited his ability to wield tariffs and a temporary tariff stopgap is set to expire.
Q&A ID dfce9b13-19eb-4609-9a85-1a78ad5e9194
How much value in Canadian goods is expected to be affected by the new 50% tariffs?
The administration says the measure will affect approximately $20 billion in Canadian goods.
Q&A ID 221a1b47-97fe-4954-a55e-89655e87e6d5

AXIOS (Avery Lotz) - N.J. removes noncitizens from voter rolls after finding software glitch

New Jersey Gov. Mikie Sherrill (D) ordered the removal of self-identified noncitizens erroneously added to voter rolls after a software error led to some 6,600 people being incorrectly registered. The big picture: Fewer than 400 people who were registered because of the error actually voted, but the incident could fuel the President Trump's unsupported claims of mass voter fraud that critics say threaten to undermine trust in elections. - Sherrill said there was no evidence at this time that any elections were swayed by the incident. Driving the news: The error — which occurred between June 2023 and June 2024, before Sherrill was sworn in — led to the voter registration of people applying for driver's licenses and ID cards, even…

What political legislation did the White House mention in response to the New Jersey voter registration incident?
White House spokesperson Abigail Jackson stated that the incident underscores the necessity of the SAVE America Act.
Q&A ID 6de2daa0-f193-48bf-8e9c-653f256d1fc8
Under which administration did the software error that led to the registration of noncitizens occur?
The error occurred under the administration of former Governor Phil Murphy, prior to Mikie Sherrill being sworn in.
Q&A ID 2323e228-d867-4d89-959c-6fbcf1612820
Which vendor was responsible for administering the system that contained the software glitch in New Jersey, and what is being done about it?
The system was administered by IDEMIA. The New Jersey Motor Vehicle Commission has begun the process of replacing IDEMIA with a new vendor, and MVC Chair and Chief Administrator Rosalie Johnson stated that a new system is expected to launch next year.
Q&A ID 2e1b67f7-a39a-4ab3-a789-f84a8f31ee91
According to Governor Mikie Sherrill, how many of the incorrectly registered noncitizens actually cast a vote?
Fewer than 400 people who were registered due to the software error actually voted.
Q&A ID 0ebb892c-6fd6-495d-a022-8c62f8aabe8e

AXIOS (Hans Nichols) - Scoop: Progressives scorch Gillibrand over crypto

Progressive groups are opening a vicious new front in the fight over crypto legislation , targeting Sen Kirsten Gillibrand as she tries to broker a compromise on the CLARITY Act, which has unresolved issues on its ethics provisions. Why it matters: The blistering — and deeply personal — attack from Indivisible, Demand Progress and the Revolving Door Project complicates already delicate negotiations. - It's also a warning shot to Democrats: Progressive groups are prepared to make support for the bill politically painful, even if it means another bruising intraparty fight over one of the crypto industry's top legislative priorities. - "Senator Kirsten Gillibrand, chair of the Democratic Senatorial Campaign Committee (DSCC), is a prime…

What was the outcome of the Senate Banking Committee vote on the CLARITY Act in May, and which Democrats supported it?
The bill cleared the Senate Banking Committee in May with support from two Democrats, Senators Ruben Gallego (Ariz.) and Angela Alsobrooks (Md.).
Q&A ID ca2e97f4-2ff3-430a-a127-bf99c87d8723
How much money does the crypto industry's flagship super PAC, Fairshake, have on hand?
Fairshake, the flagship super PAC for the crypto industry, has approximately $125 million on hand.
Q&A ID 96382049-f720-4157-993f-22a56fe52315
Which Republican Senators are working with the White House on compromise language for the ethics provisions of the CLARITY Act?
Senators Bernie Moreno (R-Ohio) and Cynthia Lummis (R-Wyo.) are working with the White House on compromise language for the ethics provisions of the bill.
Q&A ID 6085445f-02e7-4aa6-b408-bbf8faaa6136
What specific ethics provision has Senator Kirsten Gillibrand proposed regarding digital assets?
Senator Kirsten Gillibrand has called for Congress to prevent all elected officials and their spouses from issuing or sponsoring their own digital assets, stating in a June statement that "public officials and their spouses should not be issuing memecoins."
Q&A ID f2e7a4e0-67ac-4a88-8bf4-dc7f0637814a

AXIOS (Stef W. Kight) - Senate rabble-rousers are gaining power

Hardline conservatives are gaining power in the Senate atop key committees. Why it matters: The senators known for rankling GOP leadership now have gavels that let them hold hearings, advance legislation and even issue subpoenas. Driving the news: Sen. Ron Johnson (R-Wis.) will be the new chair of the Budget Committee, Senate Republicans agreed in their closed-door lunch Tuesday. - The committee, which has a key role in reconciliation, had been chaired by the late Sen. Lindsey Graham (R-S.C.) - Johnson also chairs the Homeland Security subcommittee on investigations, allowing him to launch probes into everything from former President Biden's health to Meta's alleged cooperation with China. What to watch: Sen. Mike Lee (R-Utah) is next…

What mechanism allows senators who criticize leadership to rise to committee leadership positions?
The Senate runs on seniority, which allows senators—even those willing to buck their party or criticize leadership—to climb the committee ranks.
Q&A ID 9cc8131b-719d-4065-80ec-ff176d5e36a5
What roles does Senator Rick Scott (R-Fla.) hold within the Senate and the GOP?
Senator Rick Scott chairs the Aging Committee and leads the GOP steering committee, which is described as an unofficial, conservative group. He uses the group's weekly lunch to bring in top government officials, including President Trump, to discuss current issues.
Q&A ID b26538e7-94cd-4b7d-a1f1-dfd11da8a6c4
What is Senator Rand Paul's (R-Ky.) current role in the Senate and his stance on agency spending?
Fiscal hawk Rand Paul chairs the Homeland Security Committee. In this role, he has been skeptical of massive agency budgets and recently voted "no" on the nomination of Markwayne Mullin to be DHS secretary.
Q&A ID e3f14648-1c17-460c-a630-d2b8a77d479f
Who is expected to chair the Senate Judiciary Committee in the next Congress, and why is this vacancy occurring?
Senator Mike Lee (R-Utah) is next in line to take the gavel on the Judiciary Committee. This follows the death of Senator Lindsey Graham (R-S.C.) and the primary loss of Senator John Cornyn (R-Texas). If he takes this role, Lee would forfeit his current position as chair of the Energy Committee, a move he has indicated he is willing to make.
Q&A ID e401c178-013d-4f50-a827-13cdd4a4663e

AXIOS (Kerry Flynn) - World Cup final draws record 62.8M U.S. viewers

Sunday's FIFA World Cup final drew more than 62.8 million viewers in the U.S., making it the most-watched World Cup final and soccer telecast in American history. Why it matters: The record audience underscores soccer's growing popularity in the U.S. and is likely to boost the value of future media rights. By the numbers: The game , which saw Spain beat defending champion Argentina 1–0 in extra time, also was the most-watched soccer match in Spanish-language media history, Telemundo said. - Nearly 39 million U.S. viewers watched the game on Fox, which had exclusive English-language broadcast rights in the U.S. Those figures are up 132% from the 2022 final on Fox, the company said . - Another nearly 24 million U.S. viewers tuned into…

What is the reported status of the media rights bidding process for the 2030 World Cup?
FIFA is expected to open the media rights bidding process for the 2030 World Cup and has reportedly alerted media companies that English- and Spanish-language U.S. rights will likely be sold together as a package, with Netflix, Disney, and YouTube showing interest.
Q&A ID 9fa1a5fa-b8ae-4db2-a437-1034a03d8eef
What factors contributed to the high viewership for the Telemundo broadcast among non-Spanish speakers?
Some viewers preferred Telemundo's energetic commentary, the lack of commercials during hydration breaks, and the cheaper cost of Peacock compared to Fox One.
Q&A ID a586b422-e4a2-4ace-85e5-f39b9e8caaeb
How did streaming services perform in terms of subscriber growth during the month of June?
Fox's streaming service, Fox One, added an estimated 2.8 million new subscribers in June, which was more than 2.5 times its previous monthly record from January. Peacock, which streams Telemundo, recorded an estimated 3.75 million U.S. sign-ups in June.
Q&A ID b417ccf8-455b-4f5f-b7ce-0e4c2645d3e7
What were the viewership numbers for the U.S. men's national team's matches during the tournament?
The U.S. opening match against Paraguay on June 12 averaged 18 million viewers on Fox. The victory over Bosnia and Herzegovina on July 1 drew 26.4 million viewers on Fox. The loss to Belgium on July 6 drew 37.2 million viewers on Fox and 12.9 million on Telemundo, totaling more than 50 million combined.
Q&A ID dcd84f22-14b0-4fe1-9103-ca0048364e1c

AXIOS (Sara Fischer) - Scoop: Lawmaker asks SEC to investigate Truth Social's plan to monetize access to its data

Rep. Ritchie Torres (D-N.Y.) has asked the Securities and Exchange Commission to investigate whether plans by Truth Social's parent company to sell Wall Street firms real-time access to President Trump's posts could violate federal securities laws, according to a copy of the letter obtained by Axios. Why it matters: The letter escalates scrutiny of Trump Media & Technology Group's plan to monetize faster access for institutional investors to President Trump's market-moving social posts . Catch up quick: TMTG's new Truth API product, which is slated to debut Aug. 1, will provide real-time access to publicly available posts from the platform's top 10 trending accounts, Axios reported last week. - TMTG executives reportedly pitched the…