Author: Newyorki

Major US banks, including JPMorgan Chase, Citigroup, and Wells Fargo, have expressed confidence in the financial strength of American consumers, despite rising inflation, high interest rates, and the economic uncertainty sparked by President Donald Trump’s sweeping tariffs. Citigroup CEO Jane Fraser described the current strength of the US economy as “exceeding expectations,” citing the resilience of both American entrepreneurs and consumers. However, she also cautioned that the second half of the year could bring new challenges, including potential price increases on goods as tariffs begin to take fuller effect, along with signs of slowed capital spending and hiring. JPMorgan CFO…

Donald Trump’s aggressive tariff campaign has generated nearly $50 billion in additional customs revenue for the U.S., as global trading partners largely hold back from retaliating, opting instead for cautious negotiations to avoid further escalation. Four months into what many have described as Trump’s second major trade war, only China and Canada have implemented significant countermeasures in response to the sweeping tariffs imposed by the U.S. administration. These include a 10% global tariff, 50% duties on steel and aluminium, and 25% levies on autos. According to U.S. Treasury data, customs revenues reached a record $64 billion in Q2 2025 —…

President Donald Trump has issued a stark ultimatum to Russian President Vladimir Putin: reach a peace agreement with Ukraine within 50 days or face sweeping economic consequences. The warning, delivered during remarks in the Oval Office on July 14, signals a new phase in U.S. efforts to pressure Moscow into ending the war. Trump announced that if a deal is not reached soon, his administration will impose “very severe tariffs” — potentially as high as 100% secondary tariffs — on Russia and countries that continue to trade with it, particularly those buying Russian energy. These tariffs would target nations indirectly…

As part of his administration’s push to establish U.S. leadership in artificial intelligence, President Donald Trump is set to travel to Pennsylvania on July 15 to unveil more than $90 billion in private sector investments aimed at powering the country’s AI future. According to the office of Sen. Dave McCormick (R-Pa.), the investment wave includes funding for data centers, energy and power infrastructure, and workforce development — all critical components of the fast-growing AI industry. Pennsylvania, a key swing state in the 2024 election and a major player in energy production, is being positioned as a national hub for AI…

The Trump administration’s effort to dramatically reshape the U.S. Department of Education took a major step forward on July 14, when the Supreme Court allowed the layoff of over 1,300 department employees to stand—at least for now. The ruling did not evaluate the legal merits of the layoffs but permitted the administration to move forward with the terminations while litigation continues. For affected employees, the decision makes their March dismissals official unless reversed by a later court ruling. Despite the scale of the cuts, the Department of Education is not being eliminated. Education Secretary Linda McMahon acknowledged that dismantling the…

In a surprising twist following Chelsea’s dominant victory in the 2025 FIFA Club World Cup final, former U.S. President Donald Trump has claimed that the original tournament trophy now permanently resides in the White House. Chelsea clinched the title with a commanding 3-0 win over Paris Saint-Germain at MetLife Stadium in New Jersey, capping off the first edition of the newly expanded tournament. The final saw Trump make a high-profile appearance, stepping onto the pitch amid a chorus of boos before briefly mingling with Chelsea players during the post-match ceremony. Despite Chelsea captain Reece James lifting what appeared to be…

U.S. President Donald Trump has announced a new trade agreement with Indonesia, under which Indonesian exports to the U.S. will face a 19% tariff. The deal marks the latest development in Trump’s evolving trade strategy aimed at securing greater access to critical minerals and industrial commodities. Speaking to reporters on Tuesday, Trump confirmed that he had reached the agreement after a phone call with Indonesian President Prabowo Subianto. He described the agreement as one that would grant the United States “full access to Indonesia — everything.” Focus on Copper and Critical Minerals Trump highlighted Indonesia’s significant reserves of high-quality copper…

Former U.S. President Donald Trump reportedly asked Ukrainian President Volodymyr Zelenskyy whether Ukraine could launch strikes on Moscow and St. Petersburg if given long-range weapons, according to individuals briefed on their recent July 4 phone call. The conversation, confirmed by multiple sources familiar with U.S.-Ukraine discussions, marks a notable shift in Trump’s public position on Russia’s war and military engagement abroad. The call took place one day after Trump held a separate conversation with Russian President Vladimir Putin, which Trump later described as “bad.” Frustrated by the lack of progress in ceasefire talks, Trump reportedly told Zelenskyy that escalating pressure…

The U.S. Department of Commerce has initiated two new national security investigations into imports of drones and polysilicon, a key material used in semiconductors and solar panels. The inquiries could pave the way for fresh tariffs on vital technology sectors, further intensifying ongoing global trade tensions. According to notices published Monday evening, the Commerce Department will examine imports of unmanned aircraft systems (UAS) and their components, as well as conduct a separate study on the supply chains for polysilicon — a raw material crucial to both the semiconductor and renewable energy industries. Officials will assess whether foreign subsidies, unfair trade…

NATO Secretary-General Mark Rutte emerged from the latest summit with a key diplomatic win: U.S. President Donald Trump, long skeptical of NATO’s relevance and cost, publicly reaffirmed his commitment to the alliance. The breakthrough followed a series of strategic moves and tense moments as leaders of the 32 NATO member states convened to demonstrate unity and address global threats, particularly from Russia. A 5% Defense Spending Pledge to Appease Trump The headline announcement from the summit was the alliance-wide pledge to spend 5% of GDP on defense, a significant increase aimed at addressing U.S. concerns over burden-sharing. The move was…