☕️ Bezos v Trump, explained

Good morning!

President Donald Trump officially celebrated 100 days in office with a rally in Michigan, a throwback to the scenes of the 2024 presidential election. He spoke for 90 minutes and covered the major policy achievements from his first three and a half months in office.

The ‘100 Days of Greatness’ rally ended with a final promise from Trump: “You ain’t seen nothing yet”.

I’ve got 30 seconds

Some headlines from this morning:

• President Trump has announced American car manufacturers will be entitled to limited relief from his 25% auto vehicle tariff. Car manufacturers have complained that the tariffs on imported parts are increasing the overall cost of their products. Now, US car companies that pay the auto vehicle tariff will not pay the cost of other tariffs, such as those on steel and aluminium. They will also qualify for limited auto vehicle tariff relief based on how many cars they sell, and the price of each. The plan will be phased out in two years to encourage car makers to produce their parts in the US.

• Canada’s Liberal Party has won the federal election, but will need to negotiate to form a government. The party, led by former central bank governor Mark Carney, won 169 out of 343 possible electoral seats, three shy of a majority and ahead of the Conservative party’s 144 seats. Carney will require the assistance of either the Bloc Québécois or the New Democratic Party to pass legislation. Yesterday morning, it was confirmed that Conservative leader Pierre Poilievre, who positioned himself as an antidote to former Prime Minister Justin Trudeau, had lost the Ottawa seat he held for 20 years to a Liberal candidate.

• UPS has said it will cut 20,000 jobs this year as it increases the automation of its processes and begins to withdraw from a partnership with Amazon. The company stressed the job cuts were not related to the recently imposed tariffs, saying it was unclear how they would affect UPS's business. UPS announced it would begin to limit its interactions with Amazon, its largest customer, in January, aiming to halve business with the retail giant by mid-2026. UPS said the partnership was “not profitable for us, nor a healthy fit for our network.”

• Kamala Harris is set to deliver her first major speech since losing the 2024 presidential election. She will address the 20th anniversary gala for Emerge, an organization that supports women in political office. There is speculation Harris is considering a run for the governorship in her home state of California when the position becomes vacant in 2026. According to the Washington Post, Harris will discuss the positions of the current administration towards the use of executive powers, and pressure applied to universities.

I’ve got 1 minute

A spat between Amazon and the White House has been resolved after the retail giant denied reports that it would mark the impact tariffs were having on its product prices.

The day-long misunderstanding saw White House Press Secretary Karoline Leavitt call Amazon’s reported action "hostile and political."

This one has been a rollercoaster. Let's catch you up.

Background

Jeff Bezos, the billionaire owner of Amazon, has sought to mend his relationship with President Trump after tensions arose between the pair during Trump’s first term.

The President has been receptive to Bezos’ efforts, which included a large donation to his inauguration and funding a multi-million dollar documentary about the First Lady. He told the Atlantic recently: “[Bezos] has been great.”

What happened?

On Tuesday, Punchbowl News reported that Amazon would display a product's import cost alongside its total cost. This move would show consumers how much Trump’s recent tariffs have increased the cost of each specific product.

The White House publicly condemned the move, and Trump personally called Bezos to complain.

Amazon stocks dropped by 2% after Leavitt attacked Amazon, quoting a 2021 Reuters report alleging links between Amazon and a “Chinese propaganda arm.”

As you were

Hours later, Amazon clarified it had never considered displaying the import cost on its main site

Reportedly, Amazon’s low-cost goods subsidiary, Haul, discussed the move as most of its products were imported from China and, therefore, subject to a 145% tariff.

Amazon explained: “This was never approved and not going to happen”.

Trump said Bezos had “solved the problem very quickly,” calling the billionaire “very nice”.

I’ve got 2 minutes

The Trump administration has dismissed all the contributors to a two-decade-old climate change report.

Since 2000, the National Climate Assessment (NCA) has been released every four years. It assesses the impacts of rising temperatures on the US environment.

The report’s 400 contributors received an email on Tuesday terminating their employment. It means the next NCA, due in 2027, will likely not be completed.

Here’s some background.

What is the NAC?

The US Global Change Research Program (USGCRP) was created to coordinate climate change-focused research across 13 US federal agencies.

Congress mandated that USGCRP deliver the NCA to Congress every four years.

The assessment describes how climate change is affecting ecosystems, resources, and health across the US and forecasts future changes from human activity and natural forces over the next 25–100 years.

Each NCA is written by hundreds of experts and reviewed by the federal government and external reviewers, and is meant to inform decisions across all sectors of society.

What did Biden do?

The fifth and most recent NCA was released under President Biden in 2023. The Biden administration focused on making the report as accessible as possible.

The 5th report was accompanied by podcasts, an interactive atlas, and an art series, and it was also translated into Spanish.

The administration also asked the USGCRP to assess the impacts of climate change on Indigenous people and racial minorities.

What is Trump doing?

The dismissal of the NCA's contributors follows the slashing of USGCRP funds earlier this year, and the cancellation of a staffing contract.

These earlier moves reportedly made completing the report difficult, but one of the dismissed contributors said that now, “without the staff and many volunteers, [the report] won’t be done.”

The email dismissing the reports' contributors explained the administration was reevaluating "the scope of the [NCA]" but has not clarified further.

President Trump said he “did not believe” the fourth NCA when it was released during his first term.

What’s next for US climate policy?

Over the past 100 days, the Trump administration has retracted many Biden-era initiatives to combat climate change.

An expert quoted by the Washington Post said, “Not having the NCA is like driving a car with a dirty windshield,” referencing ongoing efforts to address climate issues.