USPolitics

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In a dramatic and unexpected turn of events, the U.S. political landscape witnessed a seismic shift today as former rivals joined forces in a historic alliance aimed at reshaping America’s future trajectory. In a surprise press conference held at Capitol Hill, key political figures from both parties stood shoulder-to-shoulder, announcing a bipartisan coalition focused on national innovation, defense tech, and global cooperation.

🤝 Unity Over Division
The alliance, dubbed the “American Forward Pact,” includes senior leaders from the Democratic and Republican parties as well as influential tech and defense executives. Sources indicate that months of secret negotiations led to this announcement, with the aim of accelerating innovation in AI, aerospace, and cybersecurity — sectors where the U.S. faces stiff competition globally.

“We’re putting country over party. This is not about red or blue — it’s about red, white, and blue,” said one senior senator during the address.
🚀 Technology, Defense, and Diplomacy
The pact outlines a roadmap for increased government investment in space exploration, quantum computing, and defense technologies, including partnerships with private giants like SpaceX, Palantir, and Lockheed Martin. There’s also a strong diplomatic dimension, with the coalition seeking to strengthen U.S. ties with allies across the Indo-Pacific and Europe.
🇺🇸 What’s Next
Analysts are calling this a game-changer ahead of the 2026 midterm elections, and global markets have already reacted — with defense and tech stocks seeing a surge within hours of the announcement. Critics, however, warn of overreach and question whether such unity can be sustained amid America’s deep ideological divides.
Nonetheless, this rare display of cross-party collaboration could signal a new era in U.S. leadership — one that focuses on unity, innovation, and strategic dominance on the world stage.#TrumpTariffs #CryptoRoundTableRemarks #Washington #USPolitics #AIPolicy

A U.S. appeals court has sided with the Trump administration, allowing controversial tariffs on goods from China, Canada, and Mexico to remain in place—for now. The court also called for a fast-tracked review of the ongoing legal challenge.
The U.S. Court of Appeals in Washington, D.C. extended the suspension of a lower court’s decision that invalidated Trump-era tariffs, originally imposed on Liberation Day. The ruling emphasized that a fresh review is necessary to determine whether Trump exceeded his legal powers. Until this review concludes, the reciprocal tariffs aimed at key U.S. trade partners remain in force.

Small Businesses and States Challenge Trump's Tariffs
Earlier this year, a coalition of small businesses and a dozen states filed a lawsuit in the U.S. Court of International Trade, arguing that Trump’s tariffs exceeded presidential authority under the International Emergency Economic Powers Act (IEEPA). In May, the trade court sided with the plaintiffs and ruled the White House must end the tariffs—separately applied to China, Canada, and Mexico.
The Trump administration swiftly appealed, and the next day a district court issued a stay on the ruling. Now, the appeals court has confirmed that the tariffs can stay in effect while the appeal is under review and ordered an expedited summer timeline, calling the matter “of exceptional importance.”

Reactions: Legal Disappointment vs. Political Support
Ilja Somin, law professor at George Mason University and legal counsel for the plaintiffs, called the ruling disappointing but acknowledged that the court has agreed to fast-track the case. Jeffrey Schwab, lead attorney at Liberty Justice Center, echoed this sentiment but expressed confidence that the tariffs will ultimately be overturned.
The White House, on the other hand, hailed the decision as a “welcome development,” stating that Trump’s actions were within the legal authority granted by the Constitution and Congress to address persistent trade deficits and drug-related concerns.

Trump Is the First to Use IEEPA for Tariffs
Traditionally, IEEPA has been used by presidents to sanction enemy states or freeze foreign assets. Donald Trump is the first to use it as a basis for imposing import tariffs—including February’s duties on China, Mexico, and Canada, which he claimed were necessary to combat fentanyl trafficking. April’s additional measures addressed broader trade imbalance concerns.
Critics argue that the national trade deficit does not constitute an emergency under IEEPA, and therefore the use of the law is not legally justified. Small business owners in particular claim the move was excessive and harmful.
The administration shows no signs of backing down and may pursue the case all the way to the Supreme Court.

Steel and Auto Tariffs Remain Unaffected
The current appeals court ruling does not impact broader industry-specific tariffs, such as those on steel, aluminum, automobiles, and auto parts. These were enacted under Section 232 of the Trade Expansion Act, which allows the president to impose tariffs if national security is at stake. This legal pathway remains available to the administration regardless of the IEEPA case’s outcome.

What Happens If Tariffs Are Removed?
JPMorgan estimates that if no new tariffs are imposed and the IEEPA-based ones are repealed, the U.S.’s effective tariff rate could drop to around 5%. Even then, it would still be double the level seen in 2024—highlighting the significant impact of Trump’s trade policies on the nation’s global economic strategy.

#TRUMP , #Tariffs , #TradeWars , #USPolitics , #TradingCommunity

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Tensions are rising once again behind the scenes of U.S. politics – former President Donald Trump is reportedly considering replacing Federal Reserve Chairman Jerome Powell. According to sources close to Trump’s team, current Treasury Secretary Scott Bessent is a leading candidate for the job. While formal interviews haven’t started yet, Trump’s advisors are said to be heavily pushing for Bessent’s nomination.

Race for the Fed: Bessent vs. Warsh
Powell’s term doesn’t end until May 2026, but Trump has hinted that he will announce a successor “very soon.” While Kevin Warsh, a former Fed board member, was interviewed for the role back in November 2024, Bessent’s name is now being discussed with equal – if not more – seriousness.
Bessent currently heads Trump’s economic team and plays a key role in overhauling trade policy, reforming taxes, and cutting back federal regulations. As Treasury Secretary, he would typically help select the next Fed Chair – but now, he might end up taking the job himself.
When asked about the possibility by reporters, Bessent smiled and said: “I have the best job in Washington. It’s the President’s decision to choose what’s best for the economy and the American people.”

Bessent’s Star Is Rising
Tim Adams, president of the Institute of International Finance, called Bessent a strong candidate who enjoys a high level of trust among global financial leaders. He referred to Bessent as a “dark horse” in the race but acknowledged his growing momentum. Warsh, however, remains a serious option – Trump recently stated he has “great respect” for him.
Bessent is also directly involved in negotiating a new trade deal with China, which is a top priority in Trump’s global economic reset. His leadership is praised by former White House chief strategist Steve Bannon, who said: “Bessent isn’t just a cabinet star, he’s a safe hand for global capital markets.”

Trump’s Frustration with Powell Grows
Trump has long criticized Powell, whom he nominated in 2017, for being too cautious with interest rate cuts. Despite economic uncertainty, the Fed has held rates steady through 2025 – a decision Trump recently challenged during a meeting with Powell at the White House.
Fed officials argue the pause is necessary due to inflation risks, particularly from Trump’s evolving tariff strategy. They warn that new tariffs could slow growth and push consumer prices higher, calling for a more cautious approach.
Trump disagrees, claiming the Fed is making a mistake. He has also expressed the belief that presidents should have more influence over monetary policy – raising concerns about the Fed’s independence under new leadership. Whoever replaces Powell will need to prove they’re not a puppet of the White House.

Other Names in the Mix
Besides Bessent and Warsh, other potential candidates are being floated within Trump’s inner circle:
🔹 Kevin Hassett – Head of the National Economic Council

🔹 Christopher Waller – Current Fed Governor

🔹 David Malpass – Former World Bank President during Trump’s first term
Despite Bessent’s strong global financial relationships, some experts point out that monetary policy isn’t his primary area of expertise. Economist Arthur Laffer, a longtime Trump ally, said: “Bessent is great, but he already has a job. Warsh is simply perfect for this role.”
So, who will ultimately take the Fed’s top seat? The decision is expected soon – and it could reshape not only U.S. monetary policy but also financial markets worldwide.

#TRUMP , #Fed , #FederalReserve , #USPolitics , #TradingCommunity

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Elon Musk once again found himself in the middle of a political firestorm – not for Tesla or SpaceX this time, but for a dramatic altercation with U.S. Treasury Secretary Scott Bessent. The long-simmering tension between the two culminated in a physical fight inside the White House.

👊 What exactly happened?
According to The Washington Post, the incident occurred in April. The conflict centered around who should be appointed acting commissioner of the IRS. Musk had his eyes on the position, but Donald Trump sided with Bessent, leaving Musk furious. As the two men exited the Oval Office, the argument escalated into a shouting match.
Steve Bannon later revealed that Bessent accused Musk of being a fraud, referring to Elon’s unfulfilled promise to save the government over $1 trillion. Musk reportedly responded by jabbing Bessent in the ribs like an NFL locker room scuffle. Bessent hit back, and the confrontation only ended when White House staff stepped in and escorted Musk out of the building.

🚨 Musk’s Washington Influence Is Fading
At the beginning of the year, Musk was one of Trump’s closest allies — even staying in the Lincoln Bedroom. He wielded serious power, with his agency DOGE slashing budgets, laying off federal employees, and dismantling aid programs.
But internally, Musk was seen as reckless. In February, he shocked federal officials — including judges — by emailing them demanding a list of their “achievements.” It was clear to many that Musk lacked an understanding of how the government works.
While Trump and adviser Stephen Miller still supported him, others like Susie Wiles had grown tired of the chaos. Public support for Musk’s political role also plummeted. Protesters waved signs reading "No one voted for Elon Musk."
Then came the Wisconsin Supreme Court election, where Musk backed a pro-Trump candidate who lost badly. The defeat served as a warning to Republicans that Musk might be more liability than asset.

📉 Tariffs, Insults, and the Final Straw
On April 2, Trump repealed new tariffs. Musk blasted the move on X, calling Trump adviser Peter Navarro a “moron” and begging Trump to reinstate the duties. Trump ignored him. Markets took a hit, and Musk’s credibility in D.C. collapsed. That rough week led directly to his explosive clash with Bessent.

🛰️ NASA Nomination Collapses
After the altercation, Musk announced he would step back to focus on Tesla, managing DOGE remotely. But his opponents weren’t done yet.
Jared Isaacman, Musk’s pick to lead NASA and a key figure in his Mars ambitions, had donated to Democrats. Sergio Gor, Trump’s personnel director, revealed documentation of the donations. Trump swiftly killed the nomination.
Musk suspects Gor was also behind negative leaks to The New York Times. The two had clashed for months over staffing. For Gor, this was revenge — and he got it.
Trump spokesman Steven Cheung backed the move: “Sergio is a vital part of the team and helped the president build an unmatched administration.”

📺 TV Confrontation and Trump's Silence
Meanwhile, Fox host Maria Bartiromo grilled Trump aide Karoline Leavitt live on air, asking whether Musk really assaulted the Treasury Secretary. Leavitt laughed nervously and downplayed it as a “disagreement.” But Maria pressed harder: “Was it a fight?”
Leavitt responded: “I wouldn’t call it a fistfight, Maria. It was definitely a disagreement. I wasn’t there, but I heard second-hand.”
Trump has remained mostly silent, but behind closed doors, he’s reportedly furious. He’s allegedly called Musk a “huge druggie,” referencing reports of ketamine and Adderall use. The New York Times even reported that Musk’s drug use may be affecting his bladder.
Sources say Trump wants no more public drama and has instructed allies like J.D. Vance to keep quiet. But the damage is already done.

💬 Republican Anxiety Grows
Trump also posted on Truth Social calling for more oversight of Musk’s government contracts. Some Republicans fear Musk could retaliate — or even launch a third political party.
Senator Ted Cruz summed it up in his podcast: “It feels like being a kid of divorced parents. I just wish mom and dad would stop yelling.”
By the end of April, Elon Musk had no real influence left in Washington. His NASA dreams were dead, and the brawl with Bessent was the final headline in a very public fall from political grace.

#ElonMusk , #TRUMP , #Bessent , #worldnews , #USPolitics

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Senate Republicans are facing an internal deadlock, unable to unify behind Donald Trump’s massive new tax and spending proposal. With less than a month until their self-imposed July 4 deadline, tensions are rising over how to handle a bill that could add $2.4 trillion to the federal deficit over the next decade.
According to The Wall Street Journal, Majority Leader John Thune is trying to push out a new version of the bill, but progress is slow as the GOP fractures over key provisions.
Trump’s so-called “big, beautiful bill” narrowly passed the House in May by just one vote. But in the Senate, Republicans are gridlocked — unable to agree on which federal programs to cut in order to fund Trump’s proposed tax breaks, border security expansion, and military upgrades.

Medicaid, Food Aid, and Energy Tax Credits Spark Division
📌 Main flashpoints:

🔹 Stricter work requirements for Medicaid recipients

🔹 Cuts to food assistance, requiring states to shoulder 5% of the cost

🔹 Rollback of clean energy tax incentives from the Inflation Reduction Act
Senator Lisa Murkowski summed it up: “Everyone’s pulling this Gumby in different directions — we don’t have a unified vision.”
The proposed Medicaid reforms have triggered sharp debate. The Congressional Budget Office warns that the changes could leave 4.8 million people without insurance by 2034. While some Republicans back the move, others worry about impacts on rural hospitals and vulnerable communities.

Tax Showdowns and Lobbying Pressure
More tension surrounds tax relief for businesses. Senator Steve Daines of Montana has drawn a red line: no permanent expensing provision, no support.
Senator John Curtis of Utah slammed the proposed repeal of clean energy incentives, warning it could hurt companies like Fervo Energy, which is building the world’s largest geothermal plant in his state. His colleague Mike Lee and others are angry over proposed changes to the SALT deduction cap — raising it from $10,000 to $40,000 — which they argue disproportionately benefits wealthy blue-state residents.

GOP Infighting Threatens Bill’s Survival
Deep rifts remain between GOP fiscal hawks demanding more cuts, and pragmatists protecting their states' interests. Trump is pressuring lawmakers to pass the bill quickly to showcase strong leadership heading into the election, but some senators remain unconvinced.
“I want Trump to succeed,” said Senator Ron Johnson of Wisconsin. “But I can’t support something that could blow up our budget.”
Without unity, even a few GOP defections could derail the legislation. And if the Senate amends the bill significantly, sending it back to the House could trigger another showdown.
As it stands, Trump’s “beautiful bill” risks collapsing under the weight of its own political contradictions.

#TrumpBill , #TRUMP , #USPolitics , #USGovernment , #worldnews

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The U.S. Senate is preparing for a critical vote that could significantly shape the future of stablecoins in the United States. This week, lawmakers are set to resume deliberations on the GENIUS Act — a proposed piece of legislation aiming to establish federal regulations for stablecoins, enhance transparency, limit access to foreign-issued tokens, and safeguard the country’s financial stability.

🏛 What is the GENIUS Act and Why Does It Matter?

The GENIUS Act is a bipartisan proposal designed to create a comprehensive framework for stablecoins — digital assets pegged to fiat currencies like the U.S. dollar. Its goal is to unify issuance rules, mitigate associated risks, and establish a safe environment for investors and the broader economy.
This week, Senator John Thune officially initiated a cloture motion to end debate on the bill. This move triggers a 30-hour discussion window, after which the Senate is expected to hold a final vote — likely by Wednesday. The vote will address both the full bill and key amendments.

📄 What’s in Amendment No. 2307?

At the heart of the current phase is Amendment No. 2307, which introduces major revisions to the original bill. The amendment aims to balance the interests of both the banking and crypto sectors by introducing new oversight rules for stablecoins:
🔹 Issuers with a market cap under $10 billion may opt for state-level regulation.

🔹 Larger players would fall under direct federal oversight.

🔹 Issuers must publish monthly reports on reserves, which must be fully backed by U.S. dollars or highly liquid assets such as Treasury bonds.

💸 Controversies: Interest-Bearing Stablecoins and Foreign Tokens

One of the most hotly debated aspects of the bill is the proposed ban on interest-bearing stablecoins — tokens that pay interest to holders. This provision reflects pressure from traditional banks, which see such products as competition to savings accounts.
Another key part of the law addresses foreign-issued stablecoins. To operate on the U.S. market, they would need to comply with the same standards as domestic issuers. Lawmakers justify this requirement as a matter of national security and an effort to prevent foreign digital assets from threatening the American financial system.

🧭 What Comes Next?

After the Senate debate and vote, the GENIUS Act will move to the House of Representatives, where a parallel bill — the STABLE Act — is currently being drafted. It shares a similar goal of regulating stablecoins, although with slightly different parameters.
The final phase will involve merging both versions into a single unified bill to be presented to President Donald Trump for signing. This harmonization will require lawmakers to reach agreements on several contentious issues — from childcare provisions to the balance of power between state and federal authorities.

✅ Chances of Passage Are Rising

There is growing optimism in the Senate that the bill could be approved this week. The reason: strong bipartisan support, even though a few amendments still need to be refined. The GENIUS Act represents a major step toward legitimizing stablecoins in the U.S., and its passage could influence global approaches to digital asset regulation.

#Stablecoins , #crypto , #Regulation , #DigitalAssets , #USPolitics

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The U.S. Senate is preparing for a key vote on a bill that could reshape the rules for stablecoins – digital currencies pegged to the U.S. dollar.

The legislation, supported by former President Donald Trump, aims to establish clear guidelines for using stablecoins in payments, reduce credit card fees, and boost market competition. A crucial procedural vote is expected on Wednesday, potentially paving the way for swift bipartisan approval.

🔹 Bipartisan support – but tensions rising

In recent weeks, the bill has gained backing from crypto-friendly Democrats such as Angela Alsobrooks and Mark Warner. Senate Majority Leader John Thune has prioritized the legislation, hoping it will advance both financial innovation and competition in card processing by challenging the dominance of Visa and Mastercard.

🔹 Opponents warn of security risks and conflicts of interest

Progressive Democrats, led by Senator Elizabeth Warren, have raised red flags. They argue the bill lacks necessary safeguards to prevent stablecoins from being exploited by criminals or foreign regimes. Critics also point to Trump's personal ties to the crypto world – a Trump-associated stablecoin has already reached a market valuation of over $2 billion.
Warren warned that the legislation could allow anonymous actors to use the stablecoin as “secret bank accounts” without oversight, and as a possible channel for bribing the former president. She described it as a "two-for-one deal for criminals."

🔹 Division among Democrats – support and fierce debate

While Warner called the bill “imperfect but a step forward,” Warren passionately opposed it. A heated argument even broke out between her and Senator Kirsten Gillibrand, a supporter of the measure.

🔹 Credit card reform emerges as another battleground

Another contentious part of the bill includes a proposal to force more competition in card payment processing. Senators Roger Marshall (Republican) and Dick Durbin (Democrat) want merchants to have access to multiple payment networks, not just Visa and Mastercard, to lower transaction fees.
However, Senate Banking Committee Chair Tim Scott has suggested that credit card rules should be handled separately from the stablecoin bill.

🔹 Negotiations ongoing, amendments still possible

Although preparations for the vote are underway, senators could still introduce amendments to modify the bill. Behind-the-scenes negotiations are continuing.

🔹 Banking sector on alert

Bankers fear that stablecoins could drain deposits from traditional banks, making it harder for small businesses and farmers to access credit. The banking industry has long tried – mostly unsuccessfully – to stop tech giants and major retailers from launching their own tokens.

#stablecoin , #TRUMP , #crypto , #Regulation , #USPolitics

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