Donald Trump
President Trump's 10 percent tariffs--instituted to replace his initial slate of tariffs which were struck down by the Supreme Court in February--are also illegal, a federal trade court ruled on Thursday, according to the New York Times. Owners of European-bred horses purchased abroad are now in the process of applying for refunds for tariffs paid under the International Emergency Economic Powers Act (IEEPA), as reported by Dan Ross in Thursday's TDN. It's too early to say if purchasers of European-breds who have brought them to America at the recent two-year-old...
Connections of some of the leading European-trained Dubai World Cup entries are said to be taking a watching brief on the conflict in the Middle East before firming up running plans for the fixture that boasts over $30 million in prize-money on Saturday, March 28. On Wednesday, it was confirmed that Shadai Race Horse Company's Masquerade Ball and Jantar Mantar would not travel from Japan to Meydan for their intended starts in the Dubai Sheema Classic and Dubai Turf. However, leading Irish trainer Joseph O'Brien and the Aga Khan Stud's...
The uncertainty felt by stakeholders within the European bloodstock industry appears likely to persist into the summer after US President Donald Trump announced a 15% "global tariff" which will be in place for around five months. Trump's "reciprocal tariffs", imposed on most of the rest of the world last April under an emergency powers law, were overturned by the US Supreme Court on Friday in a major blow to the President's economic agenda. Speaking at the White House on Friday, Trump initially said that the Supreme Court decision affirmed his...
DEAUVILLE, FRANCE-- When U.S. President Donald Trump made good on his threat to impose tariffs on countries around the world on August 1-including a 15% tax on goods coming into America from the European Union-markets across the world shuddered. In the bloodstock world, the first to be affected will be the Arqana August Sale, which starts this Saturday, August 16. An Arqana-sponsored plane full of Americans arrived Wednesday morning from Saratoga, and the TDN spoke with some of those who came over, and others who stayed home, and international buyers...
The NTRA's Tom Rooney has a lot to deal with in Washington right now, arguing on behalf of the racing industry for immigration, tax relief, and tariff relief. He appears on the TDN Writers' Room, presented by Keeneland, as the Gainesway Guest of the Week to discuss what progress is being made in Washington on those issues. Rooney was asked first about the new 30% tariffs recently announced by Donald Trump on racing-heavy regions like the European Union, Canada, and Japan, and how that would affect racehorses. The tariffs are...
Tom Rooney, President and CEO of the NTRA, joins this week's TDN Writers' Room to discuss implications of 'The One Big Beautiful Bill' Act for the industry.
Rep. Dina Titus, a Democratic Congresswoman from the gambling mecca of Nevada, has introduced what is being called the FAIR BET Act, which would restore a gambler's right to deduct 100 percent of his or her losses from gambling winnings. Titus is the co-chair of the Congressional Gaming Caucus. The latest version of the Trump bill stunned gamblers, racetracks, casinos and sports bettors when it became clear that a player could only deduct 90% of their losses from the winnings. Under the scenario, a gambler that won $1 million and...
The 1,116-page bill the House passed early Thursday morning could have a profound effect on the horse racing industry. Currently, horse owners can only write off 40 percent of the cost of a race horse once it enters service. Under the Trump bill, the write-off, known as bonus depreciation, will be 100% for five years. With the bill now headed to the Senate, there is some speculation that the 100 percent deduction will be made permanent. The Tax Cuts and Jobs Act of 2017 increased bonus depreciation to 100% until...
LOUISVILLE, KY-- Two months ago, trainer Dale Romans and California Horse Racing Board vice chairman Oscar Gonzales traveled to Washington, D.C. with the American Business Immigration Coalition (ABIC) to join more than 150 business leaders in a push for bipartisan immigration reform. On Thursday, May 1 after training hours concluded at Churchill Downs, the pair participated in a media briefing to share their insights from the trip and explain why the group believes that now is the time to reform U.S. laws and regulations affecting legal immigrant workers. Around 20...
Major immigration reform has been talked about for decades, but torpedoed legislation is as far as that has gone. Indeed, President Ronald Reagan was still just in his second term when he signed the last comprehensive immigration reform bill successfully steered through Congress. Amid the cavalcade of immigration-related actions that the current administration has sanctioned, however, the possibility has appeared for that trend to be bucked. In the process, it opens the door for some of the nation's backstretch immigrant workforce to potentially find themselves on a new pathway towards...