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WASHINGTON (AP) — Former President Donald Trump announced a sweeping set of new import tariffs in a late-night social media post, claiming the measures will boost U.S. revenue and protect domestic industries.
The move, made shortly before midnight, imposes a 41% tariff on imports from Syria, 10% on goods from the United Kingdom, and a combined 50% rate on products from Brazil — including a 40% penalty tied to legal troubles of former Brazilian President Jair Bolsonaro. The European Union will be exempt from additional increases due to an existing trade agreement, leaving its products subject to a 15% rate.
Trump, writing in all capital letters, accused a “radical left” court of standing in the way of broader tariff powers. The court is currently reviewing whether he has the legal authority to implement the “reciprocal” tariffs without congressional approval.
Governments in affected countries moved quickly Friday to open negotiations with Washington, warning that the tariffs could disrupt trade, reduce foreign investment, and threaten jobs.
Potential Impact on Cryptocurrency
Financial markets reacted sharply to the announcement, with analysts noting that uncertainty over global trade could benefit digital assets such as Bitcoin. Rising import costs and inflation concerns may prompt investors to seek alternatives to traditional currencies, particularly in times of geopolitical tension.

“Periods of economic and policy instability often drive interest in decentralized assets,” said one market strategist. “Crypto offers a degree of independence from central banks and government policy.”

The White House did not immediately respond to requests for comment on the potential market impact of the tariffs
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Steve Witkoff’s Three-Hour Meeting with Putin Ends in a Total Flop — Trump Furious, Turns to India**

Steve Witkoff sat down with Vladimir Putin for three hours behind closed doors on Wednesday — and walked out with absolutely nothing to show for it. Zero progress on Ukraine. Zero movement toward peace. Zero wins for Donald Trump.

The Kremlin tried to save face, calling the meeting “constructive and useful,” which is Russian for “we didn’t agree on squat.” The sit-down wrapped up just before Trump’s deadline for Russian sanctions, and Putin didn’t budge an inch.

Trump wanted momentum — even just a whisper of a peace deal. Instead, Russia ramped up attacks. Since the last Witkoff-Putin meeting in April, Ukraine has faced a surge of missile strikes and drone barrages. If anything, the war is accelerating.

### Putin Keeps Stalling, Trump Keeps Waiting

Russian state media like TASS and RIA Novosti claimed “signals were exchanged” on Ukraine — but as usual, no one said what that meant. No details. No deliverables. Just more Kremlin fog and empty talk. They even hinted more info would come **after** Witkoff briefs Trump. Translation: “We’ll tell you later.” Classic Putin stall playbook.

Witkoff landed in Moscow and was greeted by Russia’s investment envoy Kirill Dmitriev. State media filmed the handshake with Putin — and honestly, that handshake might be the only “progress” anyone saw.

Meanwhile, Trump is done waiting. He’s been losing patience for weeks. In early July, he warned Russia that new sanctions were coming if there was no peace movement. “We’ll see what happens,” he said back then. Well, **it happened** — and Trump is pissed.

Behind the scenes, Trump has reportedly called Putin’s recent phone calls “tense,” blasting his Ukraine excuses as “bullsh\*t,” and slamming the continued missile attacks as “disgusting.” But none of it seems to have landed. Putin is still doing what Putin does: delay, deny, deflect.

With Putin Stonewalling, Trump Targets India

Minutes after the Moscow talks collapsed, Trump shifted gears — hard. His new target? **India.** The White House dropped a hammer: a **25% tariff** on all Indian imports, on top of existing rates — pushing the total to **50%**.

The official reason? India keeps buying Russian oil. Trump’s executive order made it clear:

> “I find that the Government of India is currently directly or indirectly importing Russian Federation oil. Accordingly... articles of India imported into the customs territory of the United States shall be subject to an additional ad valorem rate of duty of 25 percent.”

Trump had been warning India for a week — saying they’d face a tariff plus a “penalty” for supporting Russia’s war machine. Nobody knew what the “penalty” meant — until now.

He laid it all out Tuesday morning on CNBC’s *Squawk Box*:

> “They’re buying Russian oil. They’re fueling the war machine... and if they’re going to do that, then I’m not going to be happy.”

### The Death of a Trade Deal

Just a month ago, Washington and Delhi were buzzing about a shiny new trade deal. Headlines were optimistic. Negotiations looked close. Now? Dead in the water.

Things unraveled fast. On July 30, Trump publicly accused **China** of backing Putin, and threatened penalties for “everyone involved.” Days later, Indian officials responded: **we’re still buying Russian oil** — deal with it.
That was the last straw.
Now India is the latest front in Trump’s trade war. And this one isn’t just about economics — it’s personal. If Putin won’t listen to Trump, then Trump will squeeze the countries that bankroll him.
But if history has taught us anything, Putin doesn’t blink. He waits.
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In a major shake-up, former President Donald Trump has officially pulled Treasury Secretary Scott Bessent from the shortlist to replace Fed Chair Jerome Powell — confirming that Bessent declined the role to stay focused on his current position.

💬 Trump to CNBC:** “Scott’s great — but he’s happy where he is. I asked him last night, and he said, ‘Nope, not for me.’ So he’s off the list.”
New Names in the Mix
With Bessent out, Trump’s updated Fed chair contenders now include:

🧠 Kevin Warsh– Former Fed Governor with hawkish credentials
📊 Kevin Hassett– Former White House economist under Trump
❓ Two other **unnamed candidates** reportedly being vetted quietly

This latest move comes as Trump continues to hammer Powell for refusing to cut interest rates aggressively. Trump hasn’t held back, calling Powell everything from “a numbskull” to “a complete moron,” and has made it clear he wants a Fed chief who will **slash rates fast** to jumpstart growth ahead of the 2026 cycle.

📉 Fed in Turmoil
The Fed recently opted to hold interest rates steady, citing **trade tensions** and **economic uncertainty**. But the decision wasn’t without drama:

👎Governor Christopher Wallerand "Vice Chair Michelle Bowma"dissented — they wanted a cut now
🤯 "Governor Adriana Kugler resigned", unexpectedly vacating another key seat at the Fed

Trump says he’ll "fill Kugler’s seat within days", but only for a "4-month interim term" — a strategic move that could serve as a trial run for his pick to permanently replace Powell when his term expires in 2026.

🌍 Bessent Still in the Game — Just Not at the Fed

Even though Bessent’s Fed chapter is closed (for now), he remains central to Trump’s economic strategy. He’s currently leading **high-stakes trade negotiations** with China, with the latest round of talks unfolding in Sweden this week.

📅 'Mark Your Calendar:' The "August 12'deadline looms large — that’s when Trump must decide whether to extend or overhaul existing U.S.-China tariffs.

Meanwhile," Kevin Hassett confirmed"that Bessent is still **involved behind the scenes**, helping vet potential Fed candidates and advising on broader economic policy.

Trump’s Fed shake-up is far from over, and with the economy in flux, rate cuts in limbo, and new names rising, all eyes are on Trump’s next move.

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**Trump Moves to Kill \$7B Solar Program, Targeting Biden’s Climate Legacy**

The Trump administration is preparing to dismantle “Solar for All” — a \$7 billion clean energy initiative launched under President Biden to help 900,000 low-income households install rooftop solar panels. The program, funded by the Inflation Reduction Act, was designed to cut electricity bills and carbon emissions, but only \$53 million has been disbursed so far.

EPA Administrator Lee Zeldin plans to notify 60 grantees of the program’s termination, dismissing the initiative as a “green slush fund” with inadequate oversight. The decision is enabled by the new *One Big Beautiful Bill*, which gives the administration authority to reclaim unspent climate funds. Former President Trump, who has repeatedly criticized solar and wind as “unreliable,” continues to push for fossil fuels to “unleash American energy.”

This move is part of a sweeping rollback of over 70 Biden-era climate policies, including the lifting of offshore drilling bans and the reopening of coal production.

📉 **Backlash & Legal Uncertainty**
The announcement has sparked immediate backlash. Environmental groups, Democratic lawmakers, and even some Republican-led states like Georgia argue that the EPA lacks legal authority to cancel funds already approved by Congress. Legal challenges are expected, potentially setting the stage for a high-profile court battle over executive power and climate funding.

📊 **Market Impact**
Solar stocks like \$ENPH and \$FSLR are under pressure amid weakening federal support. Meanwhile, fossil fuel and nuclear-related equities — including \$OKLO and \$SMR — are gaining on hopes of accelerated project approvals and deregulation.

💬 **Divided Vision for U.S. Energy**
Supporters of the repeal, mostly conservatives, argue that taxpayer dollars should support “cheap, reliable” energy sources rather than what they label “woke green subsidies.” Critics say the move undermines both climate progress and U.S. leadership on clean energy.

🔮 **What’s Next?**
With most of the funding still untouched, the cancellation could move quickly unless halted by the courts. A successful repeal would slow the U.S. energy transition and could harm America’s climate credibility globally. However, if lawsuits prevail, the program might be restored — though continued legal uncertainty may chill future clean energy investment.

⚖️ The U.S. stands at a crossroads between fossil-fueled independence and a climate-driven energy future — and the path it chooses could reshape the global energy landscape for decades to come.

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