Author: Newyorki

U.S. inflation rose to 2.7% in June, surpassing economists’ expectations and reflecting the early effects of President Donald Trump’s tariff campaign on consumer prices. The increase in the Consumer Price Index (CPI), reported Tuesday by the Bureau of Labor Statistics, marked a jump from 2.4% in May and exceeded Bloomberg’s consensus forecast of 2.6%. The uptick adds pressure to an already heated debate over monetary policy, with President Trump renewing calls for the Federal Reserve to aggressively cut interest rates. “Consumer Prices LOW,” Trump posted on Truth Social. “Bring down the Fed Rate, NOW!!!” Tariffs Begin to Influence Inflation Economists…

The U.S. dollar fell sharply on Wednesday following reports that President Donald Trump asked congressional Republicans whether he should dismiss Federal Reserve Chair Jay Powell, a move that raised concerns about the independence of the central bank and rattled global financial markets. According to a senior White House official who spoke with the Financial Times, Trump broached the topic during a meeting in the Oval Office late Tuesday with Republican lawmakers. The official added that those present were generally supportive of the idea. Speculation intensified after Florida Congresswoman Anna Paulina Luna posted on X that she was “hearing” Powell’s dismissal…

The United States has deported five foreign nationals to the southern African kingdom of Eswatini as part of a broader effort under President Donald Trump’s administration to accelerate deportations to third countries. The move is part of a growing trend of transferring non-citizens—many with criminal records—to nations with which the U.S. has no previous immigration ties. The individuals deported—originating from Cuba, Laos, Jamaica, Vietnam, and Yemen—arrived early Wednesday on what the Department of Homeland Security (DHS) described as a “safe third country deportation flight.” According to DHS spokesperson Tricia McLaughlin, the five had been convicted of serious crimes including murder,…

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…