US politics live: Volkswagen posts massive losses, blames Donald Trump’s tariffs

A major car brand has blamed the White House for massive losses posted this year, as Donald Trump’s tariffs decimate renowned manufacturers across the globe.

Welcome to our coverage of Thursday in US politics.

A major car brand has blamed Donald Trump for its losses.

In the US, Mr Trump made a very awkward trip to the Federal Reserve on Thursday, US time, as the White House continues its pressure campaign to get the central bank chair to resign because he won’t do its bidding and lower interest rates.

The Federal Reserve is legally independent in many ways so the Trump administration is limited in how it can actually sack Jerome Powell. But it reckons whipping up a scandal about the over budget renovations at its headquarters might be just the thing.

On his walkaround, Mr Trump produced a piece of paper detailing how the building was even further over budget than already stated. Mr Powell took the paper, examined it, nodded “No,” and said the new figures were for an entirely different building – and didn’t add up. So there.

The Epstein furore rumbles on with a top Trump official meeting with the pedophile financier’s jailed accomplice Ghislaine Maxwell on Thursday, US time.

Federal Reserve chair Jerome Powell hands back a piece of paper after rejecting the figure son it which US President Donald Trump said showed the renovation of the Central Bank building was even further over budget (Photo by ANDREW CABALLERO-REYNOLDS / AFP)

On social media on Thursday, Mr Trump appeared to make nice with Elon Musk after barely mentioning him for weeks. He said he no intention to “destroy Elon’s companies” but actually he wanted him to “thrive”.

And South Park has absolutely roasted Mr Trump in the first episode of its new series with the president portrayed as a needy lover of Satan who demands to know whether his name is in the Epstein files.

Read on for more updates about Thursday, US time, in American politics.

Originally published as US politics live: Volkswagen posts massive losses, blames Donald Trump’s tariffs