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WASHINGTON (AP) — A major union representing U.S. postal workers endorsed Democrat Joe Biden, a move that comes after President Donald Trump acknowledged he was starving the postal service of money in order to make it more difficult to vote by mail in November’s election. The National Association of Letter Carriers, which represents 300,000 current and retired workers, said Thursday that Trump's longstanding hostility to the mail-delivering agency has heightened during the pandemic. They say his administration has taken “steps outside of the public eye to undermine the Postal Service and letter carriers." Union president Fredric Rolando said Biden is a "fierce ally and defender of the United States Postal Service." 732
WASHINGTON (AP) — Newly ascendant Democrats are promising congressional action on gun control amid a rash of mass shootings, including a late-night assault at a California bar that killed 12 people.Measures including expanded background checks and a ban on assault-style weapons are likely to reach the House floor when Democrats retake control after eight years of Republican rule."The American people deserve real action to end the daily epidemic of gun violence that is stealing the lives of our children on campuses, in places of worship and on our streets," said Rep. Nancy Pelosi of California, the Democratic leader who is running for a second stint as House speaker.Pelosi vowed to push for a range of actions to stem gun violence, including restrictions on high-capacity magazines and a measure allowing temporary removal of guns from people deemed an imminent risk to themselves or others.The measures could win approval in the Democratic-controlled House next year but will face opposition from the Republican-controlled Senate and the White House, where President Donald Trump has promised to "protect the Second Amendment."Still, gun control advocates believe they have the political momentum to make guns a central issue next year.The political calculus on guns is changing, said Democratic Rep. Ted Deutch, whose Florida district includes the Parkland high school where 17 people were killed in February."We saw it start on Tuesday and we're going to see it accelerate in January," he said. THOUSAND OAKS MASS SHOOTING: 1547
Wall Street is worried about a trade war.The Dow dropped 420 points on Thursday after President Trump said his administration will impose tariffs on steel and aluminum imports. The Nasdaq and the S&P 500 declined 1.3% apiece.Trump's controversial tariff announcement caught investors off guard and immediately raised concerns about retaliation from China or other major U.S. trading partners."This is the first shot across the bow over a trade war," said Art Hogan, chief market strategist at B. Riley FBR. "And nobody wins a trade war."Trump said his administration would impose a 25% tariff on steel imports and a 10% tariff on aluminum. It was not immediately clear whether Trump would exempt some countries from the tariffs, as his national security advisers have urged him to do to avoid hurting U.S. allies.Corporate America has warned Trump that tariffs could backfire. Last month, the Business Roundtable warned of the risk of "foreign retaliation" that would "harm the U.S. economy."Investors will be looking to see how U.S. trading partners react to the tariffs.Beyond worries about retaliation, the tariff news drove concerns about rising costs for companies that rely heavily on aluminum and steel, like auto and plane makers. Imports make up about a third of the steel American businesses use every year, and more than 90% of aluminum used here. Shares of Boeing fell 3% General Motors dipped 4%, and Ford dropped 3%.Related: NY Fed chief: Tariffs risk 'trade war'If the tariffs result in higher prices on steel and aluminum, companies that rely on those products may pass on some of the costs to consumers. That raises the specter of creeping inflation."This clearly will [lead to] higher prices in the production chain, which is part of the inflation path," said Quincy Krosby, chief market strategist at Prudential Financial.The timing of the tariff news surprised Wall Street. A formal announcement was expected at some point Thursday, but then it was called off. Later, Trump mentioned his tariff plans in a hastily arranged listening session with steel and aluminum executives. And he didn't provide crucial details, such as whether certain countries will be exempted.Concerns about trade come at an already shaky time on Wall Street. The S&P 500 and Dow fell about 4% in February, their worst month in two years. Fears about inflation and soaring bond yields caused a surge in volatility, including two 1,000-point plunges for the Dow.The market had come back as investors focused on the strong economy and booming corporate profits. But stocks fell sharply again on Tuesday and Wednesday, putting the Dow is back in negative territory for the year.Turbulence has picked up as well. The VIX volatility index spiked 15% on Thursday. Selling pressure will climb as volatility increases, Krosby said.At least two corners of the stock market cheered Trump's tariff announcement. U.S. Steel and AK Steel soared 6% and 10%, respectively.Century Aluminum also spiked 7%. Another major aluminum maker, Alcoa, gained 1%.Trump's tariff moves could force investors to confront another trade issue: NAFTA. Trump has repeatedly threatened to tear up this major trade deal with Canada and Mexico. Talks to renegotiate NAFTA, a major piece of the U.S. economy, have so far failed to produce a solution."It sets off the protectionist fears that had been lying dormant," said Hogan.— CNN's Jeremy Diamond contributed to this report.The-CNN-Wire? & ? 2018 Cable News Network, Inc., a Time Warner Company. All rights reserved. 3547
Voters in Idaho, Nebraska, Oregon and Pennsylvania head to the polls Tuesday and the outcomes will help clarify the ever-evolving midterms picture.The winners in the Pennsylvania primaries will set up some tough races in newly drawn districts that could determine control of the House of Representatives next year. Democrats hope to nominate a moderate candidate in Nebraska that could flip a seat, while an Idaho House Republican is trying to avoid a similar fate to his losing colleagues in Indiana and West Virginia. 527
WASHINGTON (AP) — President Donald Trump has been unable to land the big deal he sought with Congress to curb drug costs. But now he's moving on his own to allow imports of cheaper prescription medicines, along with other limited steps that could still have election-year appeal. Friday at a White House ceremony, Trump signed four executive orders. In addition to importation, they are about paying lower international prices for some Medicare drugs, passing rebates directly to consumers, and making discounted insulin available to low-income people. Democrats, including Joe Biden, are pushing a much more ambitious plan to empower Medicare to negotiate lower prices. 678