Donald Trump has said he will surrender himself to authorities in Georgia on Thursday, as he awaits trial on charges of trying to overturn his 2020 election defeat in the US state.
“Can you believe it? I’ll be going to Atlanta, Georgia, on Thursday to be ARRESTED,” the former US president wrote on his social media network Truth Social on Monday, hours after his bond was set at $200,000 (£157,000).
Trump was ordered not to send threatening social media messages to co-defendants, witnesses or victims, according to the bond agreement signed by Fulton County district attorney Fani Willis, Trump’s defence lawyers and the judge. It explicitly includes “posts on social media or reposts of posts” made by others.
He was also prohibited from communicating in any way about the facts of the case with any co-defendant or witness, except through lawyers.
Image: Pic: AP
Trump was indicted in the Georgia case last week along with 18 co-defendants, the fourth set of charges against him since April, when he became the first former president in US history to face indictment.
His appearances in New York, Florida and Washington DC have been box office media events. The former president has denied any wrongdoing.
Trump has repeatedly used social media to attack those involved in the criminal cases against him as he campaigns to reclaim the White House in 2024.
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He has railed against Ms Willis since before he was indicted, and singled out Florida’s governor, Brian Kemp – a Republican who rebuffed his efforts to overturn the election – by name in a social media post on Monday morning.
Ms Willis set a deadline of noon on Friday for Trump and his 18 co-defendants to turn themselves in at the Fulton County Jail to be booked or face arrest.
Trial could take place during presidential nominating season
The prosecutor has proposed arraignments for the defendants during the week of 5 September and has said she wants to try the defendants collectively and bring the case to trial in March, which would put it during the presidential nominating season.
Prosecutors have proposed the trial start on 4 March 2024, while Trump’s lawyers have asked for it to take place in 2026.
Mr Trump’s appearance in Georgia will come a day after the first Republican primary debate, which he has decided to skip.
He is expected to turn himself in at Fulton County Jail, where the Department of Justice opened a civil rights investigation into conditions last month, citing filthy cells, violence and the death last year of a man whose body was found covered in insects in the main jail’s psychiatric wing. Three people have died in Fulton County custody in the past month.
The Fulton County Sheriff’s Office said when Trump surrenders there will be a “hard lockdown” of the area surrounding the jail.
Trump is not expected to spend much time there.
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2:20
Fulton County District Attorney Fani Willis brought counts against Trump
Trump allies hand themselves in
It comes as the first of Trump’s co-defendants surrendered at the jail, with his former lawyer John Eastman and Republican poll watcher Scott Hall both surrendering to the county sheriff’s office.
Among the charges against Trump is “solicitation of violation of oath by a public officer” – in other words trying to persuade someone to betray their office.
The 13 counts also include forgery and racketeering, which is most often used to target members of organised crime groups.
According to Georgia’s Racketeer Influenced and Corrupt Organisations (RICO) Act it is a crime to participate in, acquire or maintain control of an “enterprise” through a “pattern of racketeering activity” or to conspire to do so.
The scheme does not need to have been successful for it to be considered criminal.
Global financial markets gave a clear vote of no-confidence in President Trump’s economic policy.
The damage it will do is obvious: costs for companies will rise, hitting their earnings.
The consequences will ripple throughout the global economy, with economists now raising their expectations for a recession, not only in the US, but across the world.
While the UK’s FTSE 100 closed down 1.55% and the continent’s STOXX Europe 600 index was down 2.67% as of 5.30pm, it was American traders who were hit the most.
All three of the US’s major markets opened to sharp losses on Thursday morning.
Image: The S&P 500 is set for its worst day of trading since the COVID-19 pandemic. File pic: AP
By 8.30pm UK time (3.30pm EST), The Dow Jones Industrial Average was down 3.7%, the S&P 500 opened with a drop of 4.4%, and the Nasdaq composite was down 5.6%.
Compared to their values when Donald Trump was inaugurated, the three markets were down around 5.6%, 8.7% and 14.4%, respectively, according to LSEG.
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Worst one-day losses since COVID
As Wall Street trading ended at 9pm in the UK, two indexes had suffered their worst one-day losses since the COVID-19 pandemic.
The S&P 500 fell 4.85%, the Nasdaq dropped 6%, and the Dow Jones fell 4%.
It marks Nasdaq’s biggest daily percentage drop since March 2020 at the start of COVID, and the largest drop for the Dow Jones since June 2020.
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5:07
The latest numbers on tariffs
‘Trust in President Trump’
White House press secretary Karoline Leavitt told CNN earlier in the day that Mr Trump was “doubling down on his proven economic formula from his first term”.
“To anyone on Wall Street this morning, I would say trust in President Trump,” she told the broadcaster, adding: “This is indeed a national emergency… and it’s about time we have a president who actually does something about it.”
Later, the US president told reporters as he left the White House that “I think it’s going very well,” adding: “The markets are going to boom, the stock is going to boom, the country is going to boom.”
He later said on Air Force One that the UK is “happy” with its tariff – the lowest possible levy of 10% – and added he would be open to negotiations if other countries “offer something phenomenal”.
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How is the world reacting to Trump’s tariffs?
Economist warns of ‘spiral of doom’
The turbulence in the markets from Mr Trump’s tariffs “just left everybody in shock”, Garrett Melson, portfolio strategist at Natixis Investment Managers Solutions in Boston, told Reuters.
He added that the economy could go into recession as a result, saying that “a lot of the pain, will probably most acutely be felt in the US and that certainly would weigh on broader global growth as well”.
Meanwhile, chief investment officer at St James’s Place Justin Onuekwusi said that international retaliation is likely, even as “it’s clear countries will think about how to retaliate in a politically astute way”.
He warned: “Significant retaliation could lead to a tariff ‘spiral of doom’ that could be the growth shock that drags us into recession.”
It comes as the UK government published a long list of US products that could be subject to reciprocal tariffs – including golf clubs and golf balls.
Running to more than 400 pages, the list is part of a four-week-long consultation with British businesses and suggests whiskey, jeans, livestock, and chemical components.
Meanwhile, Prime Minister Sir Keir Starmer said on Thursday that the US president had launched a “new era” for global trade and that the UK will respond with “cool and calm heads”.
It also comes as Canadian Prime Minister Mark Carney announced a 25% tariff on all American-imported vehicles that are not compliant with the US-Mexico-Canada trade deal.
He added: “The 80-year period when the United States embraced the mantle of global economic leadership, when it forged alliances rooted in trust and mutual respect and championed the free and open exchange of goods and services, is over. This is a tragedy.”
Tanking stock markets, collapsing world orders, devastating trade wars; economists with their hair ablaze are scrambling to keep up.
But as we try to make sense of Donald Trumps’s tariff tsunami, economic theory only goes so far. In the end this surely is about something more primal.
Power.
Understanding that may be crucial to how the world responds.
Yes, economics helps explain the impact. The world’s economy has after all shifted on its axis, the way it’s been run for decades turned on its head.
Instead of driving world trade, America is creating a trade war. We will all feel the impact.
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0:58
PM will ‘fight’ for deal with US
Donald Trump says he is settling scores, righting wrongs. America has been raped, looted and pillaged by the world trading system.
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But don’t be distracted by the hyperbole – and if you think this is about economics alone, you may be missing the point.
Above all, tariffs give Donald Trump power. They strike fear into allies and enemies, from governments to corporations.
This is a president who runs his presidency like a medieval emperor or mafia don.
It is one reason why since his election we have seen what one statesman called a conga line of sycophants make their way to the White House, from world leaders to titans of industry.
The conga line will grow longer as they now redouble their efforts hoping to special treatment from Trump’s tariffs. Sir Keir Starmer among them.
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President Trump’s using similar tactics at home, deploying presidential power to extract concessions and deter dissent in corporate America, academia and the US media. Those who offer favours are spared punishment.
His critics say he seeks a form power for the executive or presidential branch of government that the founding fathers deliberately sought to prevent.
Whether or not that is true, the same playbook of divide and rule through intimidation can now be applied internationally. Thanks to tariffs
Each country will seek exceptions but on Trump’s terms. Those who retaliate may meet escalation.
This is the unforgiving calculus for governments including our own plotting their next moves.
The temptation will be to give Trump whatever he wants to spare their economies, but there is a jeopardy that compounds the longer this goes on.
Image: Could America’s traditional allies turn to China? Pic: AP
Malcolm Turnbull, the former Australian prime minister who coined the conga line comparison, put it this way: “Pretty much all the international leaders I have seen that have sucked up to Trump have been run over. The reality is if you suck up to bullies, whether it’s global affairs or in the playground, you just get more bullying.”
Trading partners may be able to mitigate the impact of these tariffs through negotiation, but that may only encourage this unorthodox president to demand ever more?
Ultimately the world will need a more reliable superpower than that.
In the hands of such a president, America cannot be counted on.
When it comes to security, stability and prosperity, allies will need to fend for themselves.
And they will need new friends. If Washington can’t be relied on, Beijing beckons.
America First will, more and more, mean America on its own.