The U.S. trade deficit surged in July, exceeding $78 billion, marking a significant 32.5% increase from the previous month. This widening gap reflects the ongoing impact of President Trump’s tariffs on the global economy, with imports rising nearly 6% as businesses and consumers stocked up ahead of new tariffs. Small business owners have reported increased costs and challenges in selling products abroad due to tariffs on imported components, impacting their competitiveness. Furthermore, tariffs appear to have negatively affected the “Made-in-the-USA” brand, as indicated by declining global favorability ratings for the United States.
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Representative Thomas Massie stated that billionaire John Paulson, a major donor to Donald Trump, was listed in Jeffrey Epstein’s contact book. Paulson’s inclusion has sparked controversy amid demands for full disclosure of documents related to Epstein. A spokesperson for Paulson denied any relationship with Epstein, accusing Massie of a fabricated attack. Massie and others are pushing for the release of all files, while Trump has dismissed the matter as a “Democrat hoax.”
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Prime Minister Mark Carney announced a series of measures designed to bolster Canada’s economy against trade disruptions, particularly those stemming from the U.S. These measures include a pause on the electric vehicle (EV) mandate, a $5 billion strategic response fund to aid businesses, and a “Buy Canadian” policy to prioritize domestic procurement. Additional initiatives involve a reskilling package for up to 50,000 workers, expanded employment insurance benefits, and increased loan availability for small and medium-sized enterprises. The government will also provide assistance to the agricultural and seafood sectors, which have been negatively impacted by tariffs.
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The Trump administration has requested the Supreme Court to rule on the legality of his tariff policies, despite rulings against them from two lower federal courts. The petition itself presents factual claims that, if taken seriously, would likely lead the Court to strike down the tariffs under the “major questions doctrine.” However, the Court’s Republican justices have seemingly used this doctrine inconsistently, applying it against Democratic President Biden while potentially seeking a way to exempt Trump. This doctrine has no legal basis and appears to be a tool used selectively to invalidate policies, potentially offering an exception for foreign policy decisions.
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During a recent White House dinner with Silicon Valley leaders, President Trump notably kept his hands hidden from view, a departure from his usual expressive gestures. This behavior occurred while cameras were present, potentially linked to speculation about bruises on his hands and attempts by the White House to conceal them. The event, attended by prominent tech figures like Mark Zuckerberg and Tim Cook, focused on artificial intelligence, with executives offering praise and sharing their views with the President. Trump himself jokingly addressed rumors of his demise, reflecting on the media’s coverage of the situation.
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The Bureau of Labor Statistics (BLS) released August jobs numbers indicating a disappointing increase of only 22,000 nonfarm payrolls, far below the projected 75,000. While healthcare saw gains, losses in federal government employment, mining, quarrying, and oil/gas extraction offset those gains. This follows the firing of the previous BLS commissioner by President Trump due to weak employment data from the previous month. Furthermore, analysts are noting a possible rate cut by the Federal Reserve.
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ProPublica’s investigation reveals that the Trump administration, which has vowed to pursue those who misrepresented their primary residences on mortgage applications, could face scrutiny within its own Cabinet. At least three Cabinet members—Lori Chavez-DeRemer, Sean Duffy, and Lee Zeldin—have obtained primary-residence mortgages for multiple properties concurrently. These findings, discovered through financial disclosures and mortgage records, mirror the types of loans that have been cited to target political rivals for potential mortgage fraud. While real estate experts note the practice is common and rarely prosecuted, the administration’s focus on this issue could create a conflict of interest, as some of its own members may have engaged in the same practice.
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President Donald Trump downplayed the upcoming U.S. jobs report, suggesting the true economic figures would be apparent in a year. This statement follows Trump’s removal of the Bureau of Labor Statistics commissioner, Erika McEntarfer, after he disputed previous reports. While the August report is anticipated, economists offer differing projections, with some forecasting a slowdown in job growth. These actions have sparked concerns about the politicization of economic data and its trustworthiness.
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The New York City mayoral race has caught the attention of the White House, with President Trump expressing a desire for a one-on-one contest between candidates. Current frontrunner Zohran Mamdani, a Democratic socialist, has been challenged to debates by both former Governor Andrew Cuomo and, subsequently, challenged Trump himself. Cuomo, who lost the Democratic primary to Mamdani, has called for other candidates to drop out, believing he has the best chance of winning against Mamdani in a head-to-head race. Both Mayor Eric Adams and Republican Curtis Sliwa have indicated they will not be abandoning their campaigns, despite rumors of potential job offers and backroom deals.
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Former US President Donald Trump commented on the recent Shanghai Cooperation Organisation (SCO) Summit, expressing concern over the unity displayed between India, Russia, and China. In a Truth Social post, he shared a photo of the leaders at the summit, suggesting that the US had “lost” these countries to China. His remarks reflect growing American unease regarding the strengthening ties and potential shifts in global alliances, further fueled by trade disagreements and India’s ongoing purchase of Russian oil, which Trump has strongly criticized. Trump’s comments also underscore ongoing tensions and trade imbalances between the US and India, along with his continued tough stance on China.
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John Q. Hosedrinker