Treasury Secretary Scott Bessent asserts the U.S. holds a strategic advantage in its trade dispute with China, citing a significantly smaller volume of U.S. exports to China compared to Chinese exports to the U.S. The U.S. is implementing reciprocal tariffs to encourage negotiations and reshore jobs, with several countries already expressing interest in talks. While China has vowed to retaliate, the U.S. aims to address both tariffs and non-tariff barriers to create a fairer trade environment, ultimately generating revenue and jobs domestically. The administration hopes tariffs will act as a temporary revenue source, eventually diminishing as domestic manufacturing increases.
Read More
Right-wing commentators have linked Donald Trump’s tariffs to a purported “crisis in masculinity,” arguing that a return to factory jobs will improve men’s lives and boost birth rates. This perspective, amplified by figures like Jesse Watters and Milo Yiannopoulos, frames the policy not primarily as an economic stimulus, but as a means to restore a perceived ideal of postwar American masculinity. The arguments, however, often devolve into misogynistic claims about women’s roles in the workforce and family. The economic viability of this approach, and the actual impact of the tariffs on job creation, remains uncertain.
Read More
The US Justice Department’s recent disbanding of its crypto enforcement team, ostensibly due to a Trump administration order, has sparked widespread outrage and concern. The move, announced late one Monday night, raises serious questions about the government’s commitment to combating cryptocurrency fraud and the potential for rampant financial malfeasance.
This action immediately raises red flags. A dedicated team focused on crypto scams, a notoriously difficult area to police, has been effectively eliminated, leaving a gaping hole in efforts to protect consumers from potential exploitation. The timing is particularly troubling, occurring at a moment when cryptocurrency investment scams are proliferating, and individual investors are vulnerable to significant financial losses.… Continue reading
This article is protected by copyright and all rights are reserved by Fortune Media IP Limited. Use of this site is governed by the Terms of Use and Privacy Policy. The FORTUNE trademark is registered in the U.S. and other countries. Finally, the site may receive compensation for linked products and services; offers are subject to change.
Read More
In 2024, renewables and nuclear surpassed 40% of global power generation for the first time since the 1940s, driven largely by a record increase in renewable energy additions, particularly solar power. Solar energy doubled in three years, becoming the fastest-growing and largest source of new electricity, while fossil fuel generation saw a small increase primarily due to heatwaves increasing cooling demands. Despite this, clean energy growth is projected to outpace demand growth in the coming years, signaling a potential decline in fossil fuel reliance. This transition is significantly influenced by China and India’s substantial investments in renewable energy sources.
Read More
US auto tariffs, implemented via complex tariff codes, unexpectedly impacted computer imports. Tariff code 8471, encompassing all computers and related hardware, resulted in a 25% customs duty on affected products, specifically those intended for automotive use. While the current surcharge is limited to 25%, the situation remains fluid, with potential for further increases due to separate semiconductor tariffs. This ambiguity highlights the complexity and potential for unintended consequences within the tariff structure.
Read More
Recent polling data reveals a significant drop in Britons who view the US as an ally, falling from 49% in March to 43%. Concurrently, those perceiving the US as an enemy have nearly doubled. This shift in perception is linked to the negative impact many Britons anticipate from increased US tariffs on UK-US relations. A substantial portion (34%) remain neutral in their assessment of the relationship.
Read More
Ukrainian forces captured two Chinese citizens fighting alongside Russian troops in eastern Ukraine, prompting President Zelenskyy to demand an explanation from Beijing. Zelenskyy alleges the presence of numerous additional Chinese citizens within Russian units and views China’s involvement, whether direct or indirect, as an indication of Russia’s intent to prolong the war. Military analyst Michael Clarke notes that the implications for China depend on whether the captured soldiers were acting as mercenaries or under official orders, with the latter representing a serious legal and political breach. Zelenskyy also confirmed Ukrainian operations within Russia’s Belgorod region, stating that the war should be fought on Russian soil.
Read More
Musk’s DOGE using AI to snoop on U.S. federal workers, sources say – that’s a pretty alarming headline, isn’t it? It paints a picture of widespread surveillance, utilizing advanced AI technology to monitor the communications of government employees. The alleged target isn’t just any communication; it’s specifically focused on identifying sentiments considered hostile towards a particular political figure and their agenda.
This isn’t your typical workplace monitoring aimed at ensuring productivity. The scale and intent here are vastly different. We’re talking about a potential chilling effect on free speech within a federal agency, a situation where employees might self-censor their thoughts and opinions for fear of repercussions.… Continue reading
US Vice President JD Vance’s statement that the US borrows money from “Chinese peasants” to purchase Chinese goods has drawn sharp criticism from China’s foreign ministry, who labeled the remark “ignorant and impolite.” This comment follows escalating trade tensions between the US and China, fueled by President Trump’s threat of additional tariffs on Chinese imports. China has vowed to resist these actions, which economists warn could severely disrupt global markets and trigger a recession. Vance’s statement also sparked outrage on Chinese social media.
Read More