10 Mktx 03 -Highlight

Trump Officially Signs ‘Big, Beautiful Bill’– trendingpoliticsnews.com
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With a smile and stroke of a pen, President Donald Trump converted his “big, beautiful” bill into law on Friday, marking Independence Day with an accomplishment that Republicans hope will be rewarded by voters in 2026.

The bill passed the House on Thursday afternoon, giving Trump plenty of time to celebrate while speaking in Iowa where he called the first five months of his second term “a declaration of independence from a, really, national decline.”

White House Press Secretary Karoline Leavitt called the bill “an encapsulation of all of the policies that the president campaigned on and the American people voted on,” and said it’s a “victorious day for the American people.”

Shortly before holding a ceremonial signing, the president, accompanied by First Lady Melania Trump, emerged from the White House balcony to honor troops in attendance who participated in last month’s Operation Midnight Hammer, the clandestine bombing run which devastated Iranian nuclear enrichment facilities.

A B-52 bomber which dropped one of the 12 30,000-pound bombs flew over the White House, escorted by two F-35 fighters.

“That is some sight,” Trump remarked. “It was an incredible mission. I can say our country is more proud than it’s been in many, many years.”

Trump says countries aligning themselves with BRICS’ ‘anti-American policies’ will be hit with additional 10% tariffs– japantoday.com
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President Donald Trump said the U.S. will impose an additional 10% tariff on any countries aligning themselves with the “Anti-American policies” of the BRICS group of developing nations, whose leaders kicked off a summit in Brazil on Sunday.

With forums such as the G7 and G20 groups of major economies hamstrung by divisions and the disruptive “America First” approach of the U.S. president, BRICS is presenting itself as a haven for multilateral diplomacy amid violent conflicts and trade wars.

In opening remarks to the BRICS summit in Rio de Janeiro, Brazil’s President Luiz Inacio Lula da Silva drew a parallel with the Cold War’s Non-Aligned Movement, a group of developing nations that resisted joining either side of a polarized global order.

“BRICS is the heir to the Non-Aligned Movement,” Lula told leaders. “With multilateralism under attack, our autonomy is in check once again.”

In a joint statement released on Sunday afternoon, the group warned the rise in tariffs threatened global trade, continuing its veiled criticism of Trump’s tariff policies.

Hours later, Trump warned he would punish countries seeking to join with the grouping.

“Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy. Thank you for your attention to this matter!” Trump said in a post on Truth Social.

rump says countries aligning themselves with BRICS’ ‘anti-American policies’ will be hit with additional 10% tariffs– japantoday.com
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President Donald Trump said the U.S. will impose an additional 10% tariff on any countries aligning themselves with the “Anti-American policies” of the BRICS group of developing nations, whose leaders kicked off a summit in Brazil on Sunday.

With forums such as the G7 and G20 groups of major economies hamstrung by divisions and the disruptive “America First” approach of the U.S. president, BRICS is presenting itself as a haven for multilateral diplomacy amid violent conflicts and trade wars.

In opening remarks to the BRICS summit in Rio de Janeiro, Brazil’s President Luiz Inacio Lula da Silva drew a parallel with the Cold War’s Non-Aligned Movement, a group of developing nations that resisted joining either side of a polarized global order.

“BRICS is the heir to the Non-Aligned Movement,” Lula told leaders. “With multilateralism under attack, our autonomy is in check once again.”

In a joint statement released on Sunday afternoon, the group warned the rise in tariffs threatened global trade, continuing its veiled criticism of Trump’s tariff policies.

Hours later, Trump warned he would punish countries seeking to join with the grouping.

“Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy. Thank you for your attention to this matter!” Trump said in a post on Truth Social.

Trump did not clarify or expand on the “Anti-American policies” reference in his post.

Trump’s administration is seeking to finalize dozens of trade deals with a wide range of countries before his July 9 deadline for the imposition of significant “retaliatory tariffs”. India’s foreign ministry did not immediately respond to a request for comment.

BRICS nations now represent more than half the world’s population and 40% of its economic output, Lula noted in remarks on Saturday to business leaders, warning of rising protectionism.

The original BRICS group gathered leaders from Brazil, Russia, India and China at its first summit in 2009. The bloc later added South Africa and last year included Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the United Arab Emirates as members. This is the first summit of leaders to include Indonesia.

More than 30 nations have expressed interest in participating in the BRICS, either as full members or partners.

GROWING CLOUT, COMPLEXITY

Expansion of the bloc has added diplomatic weight to the gathering, which aspires to speak for developing nations across the Global South, strengthening calls for reforming global institutions such as the United Nations Security Council and the International Monetary Fund.

“If international governance does not reflect the new multipolar reality of the 21st century, it is up to BRICS to help bring it up to date,” Lula said in his remarks, which highlighted the failure of U.S.-led wars in the Middle East.

Urging the BRICS to take the lead on reforms, Lula reflected on the G20 summit hosted in the same locale last November: “In a short period of time, the international scene has deteriorated to the point that some of the initiatives we approved then would no longer be possible now.”

Stealing some thunder from this year’s summit, Chinese President Xi Jinping chose to send his premier in his place. Russian President Vladimir Putin is attending online due to an arrest warrant from the International Criminal Court related to his war in Ukraine.

Still, several heads of state were gathered for discussions at Rio’s Museum of Modern Art on Sunday and Monday, including Indian Prime Minister Narendra Modi and South African President Cyril Ramaphosa.

However, there are questions about the shared goals of an increasingly heterogeneous BRICS group, which has grown to include regional rivals along with major emerging economies.

In the joint statement, the leaders called attacks against Iran’s “civilian infrastructure and peaceful nuclear facilities” a “violation of international law.”

The group expressed “grave concern” for the Palestinian people over Israeli attacks on Gaza, and condemned what the joint statement called a “terrorist attack” in India-administered Kashmir.

The group voiced its support for Ethiopia and Iran to join the World Trade Organization, while calling to urgently restore its ability to resolve trade disputes.

The leaders’ joint statement backed plans to pilot a BRICS Multilateral Guarantees initiative within the group’s New Development Bank to lower financing costs and boost investment in member states, as first reported by Reuters last week.

In a separate statement following a discussion of artificial intelligence, the leaders called for protections against unauthorized use of AI to avoid excessive data collection and allow mechanisms for fair payment.

Brazil, which also hosts the United Nations climate summit in November, has seized on both gatherings to highlight how seriously developing nations are tackling climate change, while Trump has slammed the brakes on U.S. climate initiatives.

China and the UAE signaled in meetings with Brazilian Finance Minister Fernando Haddad in Rio that they plan to invest in a proposed Tropical Forests Forever Facility, according to two sources with knowledge of the discussions about funding conservation of endangered forests around the world.

© Thomson Reuters 2025.

China Tries Getting Rich In America’s Backyard– dailycaller.com
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Some major Chinese companies are attempting to gain a foothold in new markets such as Brazil, the New York Times reported on Friday.

Several big Chinese companies have been moving to attract consumers and hire more workers in recent months amid increased competition and mounting trade tensions with the U.S., according to the NYT. In May, Meituan, China’s largest food delivery platform, announced that it would shell out $1 billion to establish operations in Brazil, the NYT reported.

“The golden time for Meituan’s food delivery business in China may be over,” Ernan Cui, a consumer analyst at the research firm Gavekal Dragonomics in Beijing, told the NYT.

Cui also told the NYT that factors such as stringent regulations and increasing competition are “all adding pressure” on the company.

Moreover, Mixue, a Chinese multinational fast-food restaurant chain, recently said it was planning to hire thousands of employees in Brazil, the NYT reported. Similarly, Temu, a popular Chinese shopping site, began selling products in Brazil in June 2024. In May, the Trump administration ended a tariff loophole that allowed certain packages valued at $800 or less from China to enter the U.S. duty-free, which has impacted popular Chinese e-commerce websites such as Temu and Shein.

Fed Governor Breaks With Powell, Backs Trump On Interest Rates And Inflation– trendingpoliticsnews.com
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Christopher Waller, Governor of the Federal Reserve, revealed some good news on Friday that should assuage economic fears concerning tariffs and inflation.

During an interview with CNBC, Waller said that he, along with his colleagues, should begin the process of making cuts slowly, but then start to ease since inflation is no longer posing a major economic threat to the country. The central banker also said he expects that to continue.

“I think we’re in the position that we could do this as early as July,” Waller remarked during a “Squawk Box” interview with host Steve Liesman. “That would be my view, whether the committee would go along with it or not.”

According to CNBC, Waller’s comments come several days after the Federal Open Market Committee (FOMC) held a vote and decided to keep its key interest rate where it is currently. This marks the fourth straight hold since the last cut was made in December 2024.

Waller, who was nominated for the position of governor during President Donald Trump’s first term, has been persistently badgering the Fed to reduce interest rates in order to reduce borrowing costs on the $36 trillion national debt.

Trump administration and EU officials aim to clinch trade deal– www.washingtonexaminer.com
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Negotiations are underway between the United States and the European Union over a new trade deal; both sides publicly hope it will end their trade war.

Officials on both sides have expressed confidence that a deal will be reached before the July 9 deadline invoked by President Donald Trump, which will trigger a tariff hike on EU imports to 50%.

Since taking office on Jan. 20 for his second term, Trump has imposed an array of tariffs globally, even on countries and entities — like the EU — widely regarded as allies. Trump has framed tariffs as a tool to lure factories back to America, raise money for the Treasury Department, and strike more favorable trade agreements with other countries.

As for EU tariffs, Trump initially set the deadline for June 1 but agreed to delay it after a conversation with European Commission President Ursula von der Leyen.

The actual progress of the negotiations, however, depends on who you ask.

Trump Greenlights US Steel Merger, Projects 100,000 New Jobs– trendingpoliticsnews.com
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President Donald Trump issued an executive order Friday that approves U.S. Steel’s merger with Japan’s Nippon Steel through a National Security Agreement (NSA).

The NSA includes an agreement for more than $11 billion in new steelmaking investments in the United States by 2028, which is projected to create more than 100,000 new jobs for American workers. The deal also gives the U.S. government the “golden share” of the merger, which includes commitments to governance, domestic production and trade, Fox Business reported.

Trump’s order brings what has been a grueling, 18-month saga ever closer to a conclusion after two previous national security reviews and union opposition to an outright acquisition by Japan. The order will now allow a merger to go forward if the companies sign an agreement with the Treasury Department resolving national security concerns surrounding the deal.

“This partnership will bring a massive investment that will support our communities and families for generations to come. We look forward to putting our commitments into action to make American steelmaking and manufacturing great again,” U.S. Steel and Nippon Steel companies said in a joint statement.

The companies further revealed that they had completed the review process with the U.S. Department of Justice, stating that “all necessary regulatory approvals for the partnership have now been received, and the partnership is expected to be finalized promptly.”

Hundreds of protesters rally in downtown Calgary ahead of G7 summit– globalnews.ca
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They marched, chanted, waved flags and signs, and handed out pamphlets on the issues dear to their hearts, in hopes the G7 leaders would take notice.

Hundreds of protesters rallied in downtown Calgary on Sunday as leaders from around the world began arriving for the start of the G7 summit in the Rocky Mountain resort of Kananaskis, Alta., about an hour west of the city.

With the site of the summit closed to the public, organizers have set up three “designated demonstration zones” in Calgary and one in Banff and have promised that live video feeds of the protests will be broadcast on big screens in Kananaskis to the leaders in attendance.

Aside from some traffic disruptions, Sunday’s protests were largely peaceful.

Carol and Mike Schmidt held a small Canadian flag as they stood in front of Calgary city hall — one of the protest zones in Calgary — to denounce Donald Trump’s desire to make Canada the 51st state.

Russia withdraws ships, weapons from Syria, Ukrainian intelligence reports – The Kyiv Independent
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Russia has begun withdrawing its naval and military assets from Syria amid the collapse of Syria President Bashar al-Assad’s regime, Ukraine’s military intelligence agency (HUR) said in a post on Telegram on Dec. 8.

The withdrawal comes as rebels advancing from Damascus push toward Syria’s coastal provinces, including Latakia, Hama and Tartus, where Russian military bases are located, HUR wrote in its post.

HUR said the Russian army withdrew two ships, the frigate “Admiral Grygorovych” and the cargo ship “Inzhenier Trubin,” from the Tartus Naval Base, which was under Russian control as part of a security arrangement with the Assad regime.

Meanwhile, Russian military planes are transferring weapons and equipment from the Khmeimim Air Base, according to HUR.

Financial Giant Citi Finally Ending Discrimination and De-Banking of Conservatives– lidblog.com
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Financial giant Citi is finally admitting that they have been de-banking conservatives and is now promising to stop the discriminatory practice.

For years Citi was summarily closing the accounts of conservatives — especially if they support the Second Amendment. And, while the company spent years lying and claiming they were not targeting conservatives, now they are admitting to the nefarious practice and have pledged to stop doing it.

This comes as the Trump administration had begun to investigate financial services for discriminating against conservative customers.

“We will update our employee Code of Conduct and our customer-facing Global Financial Access Policy to clearly state that we do not discriminate on the basis of political affiliation in the same way we are clear that we do not discriminate on the basis of other traits such as race and religion,” the bank said in a statement.

“We also will no longer have a specific policy as it relates to firearms. Our U.S. Commercial Firearms Policy was implemented in 2018 and pertained to sale of firearms by our retail clients and partners. The policy was intended to promote the adoption of best sales practices as prudent risk management and didn’t address the manufacturing of firearms.”