The Epstein affair has proven to be an absolute headache for Trump. Attempts to put out the fire surrounding his ties with the pedophile, who was the linchpin in a network of the world’s powerful, fail time and time again. Mutiny has now even broken out in his own party.
Publication of Epstein files
On Tuesday, Congress wants to vote on the disclosure of all relevant files, including the documents that the Ministry of Justice keeps jealously secret. Democrats and Republicans in the House of Representatives are working together here, which means that Republican unity is in smithereens.
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At least four Republican lawmakers support the disclosure proposal. That was very much against the wishes of the White House. It has even led to an open rift between the president and MAGA star Marjorie Taylor Greene. Trump called his former supporter a ‘traitor’.
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Trump ceases resistance around Epstein
On Sunday evening, the president suddenly made a remarkable turn. He threw in the towel on his opposition to disclosure of the Epstein documents. “Republicans should vote to release the Epstein files because we have nothing to hide and it’s time to put this Democratic hoax behind us,” Trump wrote on social media.
The kneejerk indicates that the president is losing his grip on the party, which was absolute. At the same time, this is not the end. After the House, the Senate must consider the matter.
The chance that the proposal will survive is uncertain, but in any case it means that the Epstein case will drag on for weeks, which continues to draw attention to the president.
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The Epstein ghost returned last week with a press release from the Democrats based on new documents. It painted a picture of a president who has a lot to hide.
Investigation into Bill Clinton and Jeffrey Epstein ties
Trump has now ordered a judicial investigation into Epstein’s ties with prominent Democrats such as former President Bill Clinton and financial institutions. This has been interpreted as a diversionary maneuver, and possibly even as an incentive to block the release of documents at a later stage under the guise of ‘ongoing investigation’.
The Epstein troubles are not the only problem for the White House. The country is dying, that much is certain. Never before have American citizens thought so negatively about Trump during his second term as now. The approval rate of Republicans has plummeted to an average of 42 percent. Dissatisfaction is growing especially among baby boomers, previously Trump’s supporter.
Economic pain
The economy is a major reason for the grumpy. Groceries continue to become more expensive, despite Trump’s election promise. It became clear that the White House is feeling the pinch when import duties on many consumer goods were suddenly reversed by decree at the end of last week. This concerns more than two hundred products, including coffee, tomatoes, bananas and beef.
The measure was accompanied by a press statement that ‘great progress is being made on prices’ and the government will not rest until ‘everyone benefits’.
Shutdown
That remains to be seen. It is unclear exactly what the latest status of the messages is. Due to the historically long shutdown, important data on consumer prices, inflation and other economic indicators have not been published. These are expected again this week, starting with a September jobs figure on Thursday. Income dates are on the agenda a day later.
Wall Street is expected to remain in the dark in terms of economic figures for the time being. Much data was not collected during the 43-day federal government shutdown. There is great uncertainty as to whether, and if so, when all key figures will be released. The White House has suggested that certain data will no longer appear at all, such as a jobs figure for October.
US Supreme Court examines Trump’s import duties
The last data released in early September showed that US job growth has virtually evaporated this year and unemployment has risen to 4.3 percent. A poll by payroll processor ADP shows that companies are now seeing jobs disappear, namely 11,000 jobs at the end of October. In this context, Fortune mentions ‘flaming uncertainty in the financial markets’.
Sword of Damocles
In addition, a Supreme Court ruling on Trump’s import duties hangs over the market like a sword of Damocles. The oral session with litigants revealed that the chief justices are very critical of the legality of the approach, in which the president has introduced global levies by decree without intervention from Congress.
If this approach is rejected, not only the foundation of Trump’s trade policy will disappear, but also a cornerstone of economic and financial policy. Moreover, hundreds of billions of dollars in collected taxes may have to be repaid. It is not known when a ruling will follow.