Former Proud Boys leader Enrique Tarrio has been jailed for 22 years for helping plan the January 6 US Capitol riots.
Tarrio – along with three other members of the far-right group – was convicted of the rare charge of seditious conspiracy for what prosecutors say was an attempt to overthrow democracy.
Described as a street gang and a hate group, the Proud Boys have been designated as a terror group in two countries – Canada and New Zealand.
At the trial earlier this year, assistant US attorney Jason McCullough said in the days after the 2020 US presidential election the defendants had started “calling for action, calling for war, if their favoured candidate was not elected”.
Tarrio made an apologetic statement today at his sentencing, where he was handed the longest jail term to date among more than 1,100 Capitol riot cases.
Prosecutors had sought 33 years behind bars for Tarrio and described him as the ringleader of a plot to use violence to shatter the cornerstone of American democracy and overturn the 2020 election result.
Although Tarrio was not present at the Capitol on January 6, because he had been arrested at a pro-Donald Trump event in the days beforehand, prosecutors say evidence suggests Tarrio “strategically calculated his arrest as a means to inspire a reaction by his followers”.
Image: Proud Boys chairman Enrique Tarrio. File pic
Before the judge delivered his sentence, Tarrio gave a contrite statement, apologising to the police, citizens of Washington DC, politicians and his family for the events of January 6 and his actions.
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“To the men and women of law enforcement who answered the call that day, I’m sorry,” Tarrio said.
“I have always tried to hold myself to a higher standard and I failed,” he said. “I failed miserably. I thought of myself morally above others and this trial has humbled me.”
During his statement, Tarrio tried to explain his actions leading up to January 6, saying that his thoughts were initially clouded by anger at his candidate having lost the election and media he consumed which reinforced those beliefs.
“I was my own worst enemy,” he said.
Tarrio also rowed back on comments he had made comparing his co-defendant Dominic Pezzola to George Washington, words that appeared to irk Judge Tim Kelly when they came up earlier in the proceedings.
Image: Trump supporters outside the US Capitol building during the January 6 riot. File pic: AP
“I have matured, however the cost of that maturity has been steep,” he said, expressing remorse for letting down family members and for not being able to attend the funeral of a relative who he said raised him to be a better person.
Tarrio also sought to downplay his political involvement, saying that he did not intend to change the results of the election on January 6 but only planned on going to speak at an event, to support Donald Trump and to support his friends.
“I am not a political zealot,” he said. “When I get back home I want nothing to do with politics, groups, activism or rallies.”
Tarrio added that he wouldn’t be saying anything different when Judge Kelly left the room, an apparent reference to his co-defendant Pezzola who shouted “Trump won” after receiving his 10-year sentence last week.
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“God bless this entire court,” Tarrio said in closing.
However, while Judge Kelly said he was glad to hear the apologetic comments, he said he found the remarks lacking.
“I don’t have any indication that he’s remorseful for the actual things that he’s convicted of,” he said, calling Tarrio’s statement “better than nothing”.
The Justice Department is preparing to put Mr Trump on trial at the same courthouse in Washington on charges that the then-president illegally schemed to cling to power.
The Republican frontrunner to contest the 2024 presidential election earlier this month denied the four charges – of conspiracy to defraud the United States, conspiracy to obstruct an official proceeding, obstruction of and attempt to obstruct an official proceeding and conspiracy against rights.
He also denounced the indictment as “a persecution of a political opponent”.
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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3:27
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.