Conflict reporter/writer/cartoonist Ted Rall and political analyst Jamarl Thomas deprogram you from mainstream media every weekday at 9 AM ET.
Today we discuss:
• Canadian trade officials acknowledge that their retaliatory tariffs of up to 50% on $20 billion in American goods are intended to exert pressure on key U.S. states. The tariffs could hit states in the Midwest and Northeast particularly hard.
• Meta reaches a landmark settlement with 47 states, the District of Columbia and U.S. territories, agreeing to pay up to $17.1 billion in penalties and make major changes to its products over claims it endangered children with addictive social media platforms. The settlement effectively ends a bellwether federal trial in the U.S. Northern District of California in Oakland, where California, Colorado, Kentucky and New Jersey were seeking roughly $200 billion over accusations that Meta harmed children. Meta’s stock rose on the news, closing up just over 1 percent. The company is valued at $1.47 trillion and most recently generated $60.8 billion in quarterly revenue. The full value of Meta’s payout depends on whether other social media companies also settle with the states and agree to financial penalties and product changes. Meta will initially pay about $12 billion. It will pay an additional $5 billion if Snap, TikTok and YouTube also settle with the states and agree to financial penalties and product changes.
• The massive expenditure of U.S. munitions in the Middle East is worrying Asian allies and frustrating Pentagon officials overseeing the Indo-Pacific, who fear that the prolonged war with Iran could undermine U.S. readiness for a conflict with China. One Taiwanese official said they expect “significant delays” of Pac-3 Patriot missiles due to the drain on supplies as the Pentagon has depleted most of its interceptor stockpile in the Middle East. Japan has been warned by the Pentagon of possible delays in defense shipments, including Tomahawk cruise missiles.
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