Key Events (10)
Trump announced a deal with NATO allies to arm Ukraine with billions of dollars in military equipment paid for by European allies, marking a significant shift in his approach to the Russia-Ukraine war. Trump stated the US would not provide long-range missiles but discussed supplying Patriot missiles and Tomahawk systems, and warned Russia of severe sanctions if they do not comply with demands.
The Trump administration's handling of the Jeffrey Epstein files release has triggered significant backlash from MAGA supporters and conservative figures, with critics including Candace Owens, Tucker Carlson, and Marjorie Taylor Greene questioning Trump's approach. House Speaker Mike Johnson called for release of the Epstein files, and Democrats demanded hearings with Attorney General Pam Bondi and FBI chief Kash Patel.
US inflation rose in June as Trump's tariffs begin to appear in consumer prices, with the inflation rate reaching 2.7%. New data showing price increases could foreshadow higher costs if the president imposes steep tariffs on August 1st.
The Trump administration removed 2,000 National Guard troops deployed in Los Angeles under Defense Secretary Pete Hegseth, after the city had erupted in protests over ICE immigration raids. The administration also announced a new policy seeking to end bond hearings for immigrants without legal status.
Trump unveiled a $70 billion AI and energy plan at a Pittsburgh summit with oil and tech executives, linking AI expansion to oil and gas development while sidelining renewable energy. The administration announced $90 billion in AI infrastructure investments as part of its priority to win the artificial intelligence race with China.
JPMorgan Chase CEO Jamie Dimon publicly defended Federal Reserve Chair Jerome Powell's independence amid Trump's stated intention to replace him. Dimon cautioned against interference with the Fed's leadership, marking a rare break by a major business figure with Trump during his second term.
Trump's tariffs are significantly impacting US-Europe trade, with the Port of Antwerp-Bruges reporting a 15.9% drop in exports of vehicles to the United States. Thousands of vehicles remain idle at EU ports as tariff policies take effect.
The Supreme Court cleared the way for the Trump administration to move forward with plans to dismantle the Education Department, with administration officials already beginning the process of transferring certain functions to other agencies.
The Trump administration indefinitely halted a $1.6 billion Biden-era plan for a gas-powered blast furnace at a steel mill in Middletown, Ohio, Vice President JD Vance's hometown. The administration also yanked $15 million in research funding into PFAS (per- and polyfluoroalkyl substances) contamination on US farms.
China's economy grew 5.2% in the second quarter, beating expectations despite Trump's trade war, with economists noting the country 'front-loaded' shipments before tariffs take effect. Meanwhile, hard-right Republican lawmakers criticized Trump's shifts on Epstein, Iran, and Ukraine, suggesting a broader fraying of his political coalition.