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Donald Trump on Monday dropped his $10 billion lawsuit against the Internal Revenue Service over a leak of his personal and business tax records, a bizarre case of a sitting president suing his own government and essentially acting as both plaintiff and defendant. This comes amid reports that Trump's Department of Justice was considering settling the case in exchange for the creation of a $1.7 billion fund to compensate victims of so-called weaponization of the DOJ under the Biden and Obama administrations. Trump allies who participated in the January 6, 2021, attack on the Capitol could file claims and be compensated.
"They want a $1.7 billion slush fund, which comes to a million dollars a head in terms of Proud Boys, the Oath Keepers, the insurrectionists, with $100 million left over of taxpayer money to spread around in different ways," says Congressmember Jamie Raskin of Maryland, the top Democrat on the House Judiciary Committee, who spoke with Democracy Now! shortly before news broke of Trump dropping the IRS lawsuit.
Raskin last week introduced the Protecting Our Democracy Act, which is geared toward curbing the president's profiteering from public office. "Corruption is the whole purpose of the Trump administration," says Raskin. "It's not like some eccentric peripheral thing; it's a vast money-making operation."
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U.S. President Donald Trump is in Beijing for a highly anticipated summit with his Chinese counterpart President Xi Jinping. It is the first U.S. state visit to China since 2017, during Trump's first administration. Trade, the Iran war, artificial intelligence and the fate of Taiwan are some of the issues being discussed, although it's not clear if any new agreements are likely. Trump traveled to China with Secretary of State Marco Rubio, Defense Secretary Pete Hegseth and Treasury Secretary Scott Bessent, along with a delegation of top U.S. executives including Apple CEO Tim Cook, Elon Musk of Tesla and Jensen Huang of Nvidia.
The summit comes after years of rising hostility between the two superpowers, but leaders recognize the importance of improving the bilateral relationship, says Zhao Hai, director of international political studies at the Institute of World Economics and Politics in Beijing. "This is a very critical historical moment [at] a crossroad, and both sides now are working together to establish a stable relationship that will have a global ramification," he says.
We also speak with Jake Werner, a historian of modern China and director of the East Asia Program at the Quincy Institute for Responsible Statecraft. He says the U.S.-Israeli war on Iran and the resulting economic chaos have strengthened China's position.
"China has ties to all the countries in the region. It has acted in the past to help broker the normalization of relations between Saudi Arabia and Iran," says Werner. "So it has some experience in this realm, sort of acting as a broker towards peace."
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