USPolitics

European businesses are facing a serious challenge. Starting Friday, new U.S. tariffs of 15% will apply to most goods imported from the European Union. These duties represent the highest U.S. tariffs on European products in nearly a century, with serious consequences for industries ranging from winemaking to cosmetics and consumer goods.

🔹 Delays, Price Hikes, Uncertainty

From small family-owned companies to global corporations, exporters are scrambling to adapt. Some are delaying shipments, others are raising prices, and many warn that squeezed profit margins could lead to layoffs and cutbacks.
German winemaker Johannes Selbach from the Mosel Valley says, “It’s a 15% loss for everyone.” European vineyards and U.S. distributors that rely on these imports may soon face serious strain. Champagne producer Hugo Drappier adds, “This work cannot be relocated. Champagne only comes from one place.”

🔹 Premium Brands May Survive, Smaller Ones Must Fight

Large brands like Procter & Gamble or Adidas have more flexibility—they can either pass costs on to consumers or shift production closer to U.S. markets. But smaller companies, like French perfume maker Corania, face steeper hurdles.
“Our perfumes must remain competitive despite the 15% tariff,” said CEO Laurent Cohen. “The U.S. market accounts for 25% of our revenue.” Still, he welcomes the clarity: “Better a known tariff than constant uncertainty.”

🔹 Trump: Protecting American Industry – Firms: Unrealistic

Donald Trump defends the tariffs as necessary to correct trade imbalances and revive American manufacturing. He argues that producers will return home. But many goods, such as wine and regional perfumes, cannot simply be relocated.

🔹 Impact on Markets and EU Indexes

The tariffs are also dragging down European markets. The FTSE 100 (London) is expected to open down 0.2%, Germany’s DAX down 0.6%, while France’s CAC 40 remains flat. Broader indices, Stoxx Europe 600 and Euro Stoxx 50, are down 0.3% and 0.5%, respectively.
In short, Europe’s export sector is facing a historic test—one that could rewrite the trading relationship between the EU and the U.S. For now, companies must weather the storm and hope diplomacy brings relief.

#TrumpTariffs , #TradeWars , #Geopolitics , #DonaldTrump , #USPolitics

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U.S. Treasury Secretary Scott Bessent, a key figure in Donald Trump's administration, said Thursday morning that the United States and China are close to reaching a trade agreement — just under two weeks before harsh tariffs could return.
“I believe we have the foundations for a deal,” Bessent stated on CNBC’s Squawk Box. “There are still a few technical details to be finalized on the Chinese side. I’m confident we’ll get there, but it’s not 100% done yet.”

🔹 Deadline Approaching: August 12 Ceasefire Expires

The current truce on reduced tariffs ends on August 12. Without a new agreement, previous punitive rates could be reimposed — 145% U.S. tariffs on Chinese imports and 125% Chinese tariffs on U.S. goods. Temporary reductions had lowered those to 30% and 10%, respectively, helping to cool tensions and calm global markets.
🔹 Tough Talks, Trump Holds the Pen

Two days of negotiations in Stockholm were intense, Bessent admitted. He hasn’t yet discussed a final agreement with Trump, and the president’s signature is essential for any deal to go through. “The Chinese are tough negotiators. But so are we,” Bessent said.
🔹 More Than Just Trade

Trade isn’t the only sticking point. Washington is increasingly uneasy over China's purchase of Iranian oil and its delivery of tech components to Russia that could serve military uses. While not officially on the trade agenda, these issues are adding to the tension between the two superpowers.

Trump’s Tariff Strategy Faces Legal Challenge
Meanwhile, Trump’s entire tariff strategy is under legal scrutiny. A federal appeals court is now reviewing VOS Selections v. Trump, a case that questions whether the president had the legal authority to impose tariffs under emergency powers.
Trump posted on Truth Social Thursday morning:

“Wishing my brilliant legal team the best of luck in today’s major American case.”
The lawsuit argues that Trump overstepped constitutional limits by bypassing Congress. Neal Katyal, former acting U.S. Solicitor General, stated on MSNBC:

“The Constitution is clear… Only one branch of government has the power to impose tariffs, and it’s not the president or the courts. It’s the United States Congress.”
This high-stakes drama now unfolds on multiple fronts — diplomacy, the law, and presidential power. With the deadline ticking down, the world watches to see whether Trump will once again rewrite the rules of global trade.

#TRUMP , #USPolitics , #Tariffs , #Geopolitics , #ScottBessent

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On Wednesday, U.S. Senators Ruben Gallego and Jim Justice introduced the “Keep Call Centers in America Act of 2025”, a bipartisan bill aimed at curbing the use of artificial intelligence and outsourcing in customer service. The proposal seeks to protect American jobs, increase transparency, and safeguard consumer data privacy.
If passed, the legislation would require companies to give consumers the option to speak with a human representative based in the United States. It would also penalize businesses that offshore their customer support services, for example, by making them ineligible for federal grants and loans. According to Gallego, the bill responds to widespread frustration with automated systems that often make it difficult to reach a real person.

Tighter Rules on Outsourcing and Transparency Around AI Use
Under the proposed law, any business planning to move its call center operations overseas would be required to notify the Department of Labor (DOL) at least 120 days in advance. The DOL would then publish the employer’s name on a publicly accessible list, where it would remain for five years unless the company brought those jobs back to the U.S.
Conversely, companies that choose to keep their call centers domestic would receive preferential treatment when bidding for federal contracts.
The bill would also require customer service agents to disclose their physical location and whether AI is being used at the beginning of any interaction. Additionally, the Department of Labor would be tasked with tracking job losses in the call center industry caused by AI adoption.
Senator Justice emphasized:
“When Americans call for help, they shouldn’t be speaking to robots or people halfway across the world. This bill puts American workers first.”

Unions Warn of AI’s Threat to Jobs and Service Quality
The legislation has gained strong support from the Communications Workers of America (CWA), a union representing tens of thousands of call center employees. Dan Mauer, CWA’s Director of Government Affairs, said the bill addresses two major threats to the U.S. workforce: outsourcing and the uncontrolled spread of AI.
“This much-needed legislation protects U.S. call center jobs and addresses growing risks posed by artificial intelligence and offshoring,” Mauer said. “Companies are now using AI to de-skill work, speed up processes, and replace jobs — all of which undermines workers’ rights and lowers the quality of service for consumers.”
Senator Gallego echoed those concerns, warning that foreign-based AI systems and workers may not be held to the same data security standards, raising the risk of misuse of Americans' private information.

AI Is Rapidly Transforming the Workforce, Experts Warn
Concerns around job displacement are growing as artificial intelligence increasingly takes over tasks once done by humans — from customer service to software development and administrative duties. In May, Anthropic CEO Dario Amodei warned that up to 20% of office jobs could disappear within five years due to AI. Meanwhile, Nvidia CEO Jensen Huang told CNN that AI would only cause job loss “if the world runs out of ideas.”

#AI , #USGovernment , #Regulation , #USPolitics , #worldnews

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Tyler and Cameron Winklevoss, founders of crypto exchange Gemini and prominent supporters of Donald Trump, have derailed the nomination of Brian Quintenz as the next chair of the Commodity Futures Trading Commission (CFTC). Their direct call to Trump just one day before the scheduled Senate vote halted the confirmation process entirely.

A Phone Call That Changed Everything
According to Politico, the twins told Trump bluntly that Quintenz was not the right fit to lead the CFTC — the agency responsible for overseeing much of the U.S. crypto market. They warned that he lacked the resolve to drive the reforms they believe are necessary and that he was too tied to the old regulatory approach.
One major point of contention was Quintenz’s support for expanding the agency’s budget to increase crypto oversight. The Winklevoss twins argued this would lead to more bureaucracy instead of meaningful progress.

Senate Vote Frozen, White House in Limbo
The pushback was strong enough that the Senate Agriculture Committee paused the vote, reportedly at the request of the White House. Though the administration has not officially withdrawn the nomination, sources say an internal battle is underway.
“Brian Quintenz remains President Trump’s nominee for CFTC Chair,” said White House spokesperson Liz Huston in a statement. She added that he is expected to help fulfill Trump’s mission of making America the global capital of crypto innovation.

From Endorsement to Rejection: What Changed?
Strikingly, the Winklevoss twins had previously praised Quintenz’s nomination. Earlier this year, Cameron called him “exactly the kind of leader CFTC needs,” while Tyler described him as “a great choice for crypto and for America.”
But everything changed after Gemini settled a $5 million case with the CFTC over allegedly misleading information tied to one of its products. The company later accused some CFTC lawyers of using the case to “build their careers by scoring a headline-making win against Gemini.”
That episode appears to have shaken the twins’ trust in the agency’s leadership — and by extension, in Quintenz himself.

The Fight for Crypto Market Control
Quintenz, who previously served as a CFTC commissioner and later worked on crypto policy at Andreessen Horowitz, had built solid backing from both traditional finance and the crypto world. But now, his establishment ties are being seen as a liability.
Historically, the CFTC regulated commodities like corn and oil. But under Trump’s new vision, it would be granted direct authority over major crypto tokens like bitcoin and ether. That makes the role of CFTC chair a pivotal position in shaping U.S. crypto regulation.
The Winklevoss twins don’t want a caretaker — they want a reformer who will clean house.

What’s Next?
Though Quintenz’s nomination remains technically active, it’s effectively frozen following the Winklevoss intervention. The big question now is whether Trump will stand his ground — or yield to pressure from some of his most influential crypto backers.
This is no longer just about one man — it’s about who gets to define the future of crypto policy in America.

#TRUMP , #USPolitics , #crypto , #Regulation , #DigitalAssets

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U.S. President Donald Trump has stirred up global trade once again. On Wednesday, he signed an executive order imposing a sweeping 50% tariff on all copper imports and goods from Brazil, marking one of his most aggressive trade moves since returning to the White House.

Brazilian Exports in the Crosshairs, Exceptions Offer Little Relief
The tariffs on Brazilian products will take effect in seven days, but they are already rattling Brazil’s economy and financial markets. While the order includes some exemptions — such as for orange juice, civilian aircraft, and aircraft parts — many of Brazil’s key exports were left unprotected. One notable beneficiary is aerospace company Embraer, which employs over 2,000 people in the U.S. and successfully lobbied to shield its operations.
The Trump administration claims that Brazil represents a “national security threat” to the United States. The order also includes harsh criticism of the ongoing trial of former Brazilian President Jair Bolsonaro, who faces charges of attempting a coup. The document refers to the proceedings as “politically motivated persecution.”

Markets React Swiftly
Following the announcement, the Brazilian real initially plummeted, but rebounded after the exemptions were published. The real strengthened by 0.6% against the dollar, becoming one of the few emerging market currencies to post gains that day. Shares of Embraer surged by 11.5% in São Paulo, while other exporters like Weg SA and Suzano SA recovered and rose by over 1.7%.

Blanket Tariff on Copper: Immediate and Harsh Impact
While Brazil faces a targeted strike, the 50% tariff on copper applies globally, without singling out any particular country. The measure will go into effect in just two days, hitting not only exporters but also American manufacturers who rely on copper for electronics, construction materials, and industrial equipment.
The market reaction was swift — U.S. copper prices plunged 18%, marking the largest one-day drop since 1989. Shares of mining giants Freeport-McMoRan and Southern Copper took a hit — the former dropped 10%, while the latter lost more than 6%.
The White House defends the move as a way to support domestic industry and fix a “trade imbalance,” but analysts warn it could backfire by raising costs for U.S. businesses and slowing economic growth. The Tax Foundation noted that the growing list of industry-specific tariffs — already affecting steel, aluminum, autos, lumber, and pharmaceuticals — could significantly strain the U.S. economy.

End of the $800 Duty-Free Rule: No More Exemptions
Trump also signed an order abolishing the de minimis exemption, which previously allowed goods worth up to $800 to enter the U.S. duty-free. Starting August 29, all low-value shipments will be subject to tariffs based on their price and origin — with no exceptions, even for U.S. allies.
This builds on Trump’s earlier decision in May to close the loophole for China and Hong Kong, citing abusive trade practices. Though some companies tried to block the new rule in court — including an auto parts seller who argued the change was illegal and harmful — a federal trade judge on Monday ruled in Trump’s favor.
The impact will be felt most by e-commerce platforms and small businesses that relied on cheap international imports. From now on, every international parcel will be taxed — and no country, no merchant, no shipment will be spared.

#TRUMP , #Tariffs , #TradeWars , #USPolitics , #Geopolitics

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The World Liberty Fi DeFi project, linked to the Trump family, has made a bold bet on Ethereum by purchasing more than 250 ETH at a price of $3,895 per token, totaling an investment of $1 million.
📈 This move comes as Ethereum surges to its highest levels in 2025, with its price crossing $3,940 for the first time since January. A purchase at such a high level suggests strong conviction in continued growth and possibly a breakout to new all-time highs.

On-Chain Data Confirms: Over 256 ETH Acquired
According to blockchain data, the transaction originated from an address starting with “0xee” and ending with “174dc.” World Liberty Fi acquired 256.75 ETH using USDC worth $1 million. This further strengthens the project’s position in Ethereum.

Over $200 Million in Crypto Portfolio
Arkham Intelligence reports that World Liberty Fi currently holds more than $211 million in digital assets. The portfolio is diversified as follows:
🔹 USDT: $85 million

🔹 WETH: $30 million

🔹 WBTC: $19.33 million

🔹 stETH: $19.18 million

🔹 USDC: $16.43 million
The Ethereum purchase likely represents a strategic reallocation of stablecoin reserves in preparation for upcoming internal initiatives such as tokenization or DeFi development.

Trump’s Stake Shrinks, but Influence Remains
While the project increases its crypto exposure, World Liberty Fi’s ownership structure is evolving. Initially, the Trump family held over 75% of the project, but this stake has gradually declined:
🔹 January 24: Dropped to 60%

🔹 Recent days: Further reduced to approximately 40%
According to Forbes, Trump or associated entities may have liquidated up to $190 million worth of WLFI, potentially netting Trump himself around $135 million from the sale.

Bitcoin vs. Ethereum: Diverging Strategies
The Ethereum investment by World Liberty Fi comes at a time when Trump’s other project, Trump Media and Technology Group (TMTG), confirmed it holds $2 billion worth of Bitcoin, accounting for two-thirds of its liquid reserves.
TMTG has also invested $300 million in Bitcoin derivatives and filed for several crypto ETF funds—including one with a 75% Bitcoin and 25% Ethereum allocation.

Politics and Crypto: Ethical Concerns Emerge
Analysts are raising concerns as Trump’s political career becomes increasingly intertwined with direct financial exposure to crypto. His Truth Social posts are known to influence the market, and critics warn that this combination of political influence and financial interest could compromise market fairness.

#TRUMP , #ETH , #Ethereum , #USPolitics , #WLFI

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The United States is approaching a pivotal moment for the entire crypto industry. On July 30, 2025, the first-ever comprehensive White House report on cryptocurrency policy is expected to be released, potentially rewriting the rules of the game. Experts say the report will have a global impact and marks the first outcome of a 180-day review of the government's digital asset strategy.

🔍 What Is the White House Crypto Policy Report?
This major document stems from Executive Order No. 14178, titled “Strengthening American Leadership in Digital Financial Technologies.” It replaces guidelines from the Biden era and focuses on national security, technological dominance, and regulatory readiness in the field of crypto.
The goal is to establish a clear, technology-neutral framework for digital assets that eliminates legal uncertainties and creates a stable environment for innovation.

📋 What Will the Report Include?
The report is being prepared by a newly formed Presidential Task Force on Digital Assets, led by David O. Sacks, the White House adviser on crypto and AI, and Congressman Bo Hines. Key areas of focus include:
🔹 Regulatory Clarity:

The report is expected to redistribute oversight of the crypto market among federal institutions. The Fed, FDIC, and OCC would take control of stablecoin supervision—replacing the SEC and CFTC in this role.
🔹 Stablecoin Reform and CBDC Ban:

The report introduces new licensing standards for stablecoin issuers, access to Fed payment systems, and USD-backed token reserves. A complete ban on central bank digital currencies (CBDCs) is also under discussion.
🔹 Consumer and Market Protection:

The report emphasizes AML/KYC compliance, regular audits, reserve transparency, and investor protection against hacks and fraud. It also addresses national security concerns, such as preventing crypto from being used to launder money or finance terrorism.
🔹 Creation of a Strategic Bitcoin Reserve:

One of the most eye-catching proposals is to use the approximately 200,000 confiscated BTC to establish a U.S. Strategic Bitcoin Reserve. This would make Bitcoin an official national strategic asset, potentially influencing central bank policy. Rumors also suggest the creation of a broader National Digital Asset Reserve, including XRP and other key altcoins.

💡 Why Does This Matter to Investors?
This report is one of July’s most optimistic events for the crypto world. Investors are eager for it, hoping that regulatory clarity will eliminate persistent legal uncertainty.
🔹 Crypto companies would gain access to Federal Reserve payment systems, bolstering their standing in traditional finance.

🔹 A U.S. Bitcoin reserve would significantly strengthen the industry and encourage global adoption.

🔹 Most importantly, it could create a domino effect, inspiring other countries to follow suit.
The White House crypto policy report could very well mark the beginning of a new era, where digital assets play a central role in global finance and geopolitics.

#whitehouse , #USPolitics , #DigitalAssets , #crypto , #Regulation

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Democratic Senator Maggie Hassan is calling on Elon Musk to take urgent action to stop transnational criminal groups in Southeast Asia from abusing SpaceX’s Starlink satellite internet service to scam American citizens. According to her, the service is being used to run large-scale cyber fraud operations targeting the West.
These criminal syndicates are reportedly operating from countries like Myanmar, Cambodia, Laos, and Thailand. In these regions—marked by weak infrastructure and limited oversight—they have established so-called “fraud centers” used to run phishing campaigns, fake investment platforms, romance scams, and other cybercrimes. Starlink’s satellite internet allows them to stay online even when disconnected from local networks.

📡 Starlink Under Fire
In her letter to Musk, Senator Hassan pointed out that Starlink’s own terms of service allow the company to terminate access if used for illegal activity—and she urged SpaceX to enforce that policy.
“SpaceX has a responsibility to ensure its technology isn’t being used as a tool by global cybercriminals targeting Americans,” Hassan wrote.
So far, SpaceX has not publicly responded to the senator’s concerns or the allegations made in the letter.

🛰️ Satellite Internet as a Weapon for Scammers
Despite measures taken by Thailand in February—including cutting off electricity, fuel, and internet access in five border areas—Starlink remains a crucial tool for these criminal groups. Its portability and independence from local infrastructure allow uninterrupted communication with victims and collaborators abroad.
Concerns deepened after the shocking kidnapping of Chinese actor Wang Xing. After arriving in Thailand in January, Wang was abducted and taken across the border into Myanmar, where he was held in one of the fraud compounds before being rescued by Thai police. The incident sparked public outcry and reinforced regional cooperation to dismantle the networks responsible.

🌐 Organized Crime Costing Billions
According to the U.S. Institute of Peace and the U.S. Treasury’s FinCEN (Financial Crimes Enforcement Network), these Southeast Asian fraud operations have cost American citizens billions in losses. Many of the scam centers are believed to be run by China-linked organized crime groups that take advantage of weak legal enforcement in regions like Myawaddy.
The United States is now calling on the private sector—including companies like SpaceX—to play a more active role in fighting this new era of tech-driven transnational crime.

#ElonMusk , #starlink , #cybercrime , #USPolitics , #SpaceX

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A group of U.S. Senate Democrats has launched an investigation into Federal Housing Finance Agency (FHFA) Director William Pulte over his proposal to incorporate cryptocurrencies into mortgage assessment processes. The initiative, which could significantly reshape access to housing finance, has sparked concerns about potential risks to financial stability.

Letter With Demands and Warnings
Five senators — including Jeff Merkley, Elizabeth Warren, and Bernie Sanders — sent an official letter to Pulte, requesting clarification on how the FHFA plans to factor in crypto assets when evaluating home loan applications. Pulte was given a deadline of August 7 to respond with a full explanation of the potential impact on the housing market and the financial system.
Lawmakers warn that such a proposal could “increase risks to consumers” and potentially destabilize the housing sector, especially if cryptocurrencies are not first converted to U.S. dollars before being considered.

What’s Being Proposed?
Under Pulte’s direction, mortgage giants Fannie Mae and Freddie Mac were ordered to develop frameworks that would allow crypto to be considered in assessing borrowers’ financial positions. Currently, existing guidelines require that crypto assets be liquidated into fiat currency before they are recognized in mortgage decisions.
Democrats highlight the extreme volatility and limited liquidity of cryptocurrencies, as well as the growing risk of loss through fraud or cyberattacks. “Consumers may be unable to quickly convert their crypto into cash in times of need,” the letter states.

Possible Conflicts of Interest and Trump Ties
The investigation is not just about the technological implications — it also focuses on potential conflicts of interest. Senators pointed out that Pulte’s wife reportedly holds up to $2 million in crypto, raising questions about impartiality. Additionally, they cited Donald Trump’s expanding influence in the crypto industry — from tokens and stablecoins to mining operations and memecoins.
The FHFA’s role is especially important here, as Pulte also chairs the boards of Fannie Mae and Freddie Mac. This dual role may give him direct influence over how these crypto proposals are implemented — a concern shared by the lawmakers.

Lack of Transparency
Democrats are demanding greater detail on how these proposals will be drafted and how public feedback will be collected. They argue the current order lacks a clear process and is particularly worrying in light of past failures to oversee crypto-related activities — such as the 2023 banking crisis, which saw the collapse of three banks partly due to crypto exposure.
They also referenced a 2021 internal report by Fannie Mae, which found that using crypto or stablecoins for deposits, payments, or collateral was “among the least attractive applications” of blockchain in the housing sector.

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

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The United States and the European Union have reached a new trade agreement that eases tensions along the transatlantic axis. The White House confirmed that President Donald Trump and European Commission President Ursula von der Leyen personally agreed on a crucial compromise in Washington—just ahead of the August 1 deadline that threatened sweeping tariffs.
Trump called the agreement “the greatest of all deals,” confirming the U.S. will impose a 15% tariff on most European goods, including automobiles. However, exemptions were granted to aircraft, certain chemicals, and pharmaceuticals—offering relief to countries like Germany and France, where these industries are vital.

💶 In Exchange for a Tariff Cap, the EU Pledges Massive Spending
Brussels agreed to purchase $750 billion worth of American energy and invest an additional $600 billion in the U.S. economy. During the press conference, Trump also hinted at large-scale orders for U.S. military equipment, although no specific details were provided.
These commitments prevented the previously threatened 30% tariffs and are intended to mark the beginning of a new era of cooperation. Ursula von der Leyen acknowledged the negotiations were tough but ultimately called the outcome a “huge success.”

⚠️ Trade War Was Looming
Just days ago, Trump claimed there was only a “50/50 chance” of reaching a deal. Meanwhile, the EU was preparing for the worst—poised to activate its Anti-Coercion Instrument, often referred to as the "trade bazooka,” and initiate countermeasures against American goods.
Some member states reacted cautiously. Irish Prime Minister Michael Martin welcomed the deal as bringing “clarity and predictability” to transatlantic relations, but warned that higher tariffs would “increase costs and complicate trade.” German Chancellor Friedrich Merz praised the tariff cut on cars—from 27.5% to 15%—as a “major relief” for Germany’s export-driven economy.

📊 Transatlantic Trade in Numbers
In 2024, total trade in goods and services between the U.S. and EU reached €1.68 trillion (over $1.9 trillion). While the EU recorded a surplus in goods, it had a deficit in services, leading to an overall trade surplus of €50 billion with the U.S. The shift to a 15% tariff structure is expected to significantly impact this balance—particularly in sectors reliant on consistent cross-border flows, such as machinery, pharmaceuticals, and vehicles.

#usa , #TradeDeal , #TRUMP , #Tariffs , #USPolitics

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