President Trump signed an executive order slapping tariffs on virtually every country in the world, but there are some big exceptions and some big important uh details. This is an update to the so-called liberation day tariffs back in April. The big detail is that he delayed implementation for another week on most of the countries.So, we now have until August 7th. Administration officials say this is leaving room for some further negotiations. I will never count out the president.You've seen him do it befor ...

Steven is traveling to Israel. Yeah. Going to Israel and then he's going to Russia, believe it or not.Representative Marger Taylor Green has said that what is occurring there is a genocide. Do you agree. Oh, it's terrible what's occurring there. Yeah, it's a terrible thing.People are very hungry. You know, the United States gave $60 million to for food and uh it's a shame because nobody, you know, I don't see the results of it and we gave it to people that in theory are watching over it fairly closely. We w ...

Drug Pricing Discrepancy - Brand-name drug prices in the US are more than three times higher than in other developed nations [1][2] - The administration aims to end this burden on American families [2] Proposed Solutions and Demands - The administration rejects proposals that shift blame and request billions of dollars in handouts to the industry [3] - The administration demands immediate relief from inflated drug prices and an end to the free ride on American innovation [3] - Drug manufacturers are called upon to extend most favored nation pricing to Medicaid [4] - Drug manufacturers are called upon to guarantee most favored nation pricing for newly launched drugs [4] - Drug manufacturers are called upon to return increased revenues abroad to American patients and taxpayers [4] - Drug manufacturers are called upon to provide for direct purchasing at most favored nation pricing [4] Potential Actions - The administration will deploy every tool to protect American families from abusive drug pricing practices if manufacturers refuse to comply [4]

The government attaches the utmost importance to protecting and promoting the welfare of our farmers, workers, entrepreneurs, exporters, MSMES and all sections of industry. We will take all necessary steps to secure and advance our national interest. >> Do you expect something to happen before the deadline.>> Well, I don't I don't know what's going to happen. You know, it'll be up to India. India came to the table early.They've been slow rolling things. So I think that the president the whole trade team's a ...

Trade Agreement & Investment - South Korea needed a trade deal with the US due to competition in industries like semiconductors, autos, steel, and aluminum, aligning with the arrangements secured by the EU and Japan [1] - South Korea has pledged approximately 350 billion USD in investment, with about 200 billion USD earmarked for semiconductors, batteries, nuclear energy, and biopharmaceuticals [2] - 150 billion USD of South Korea's investment is allocated to shipbuilding, a top priority for both the US and South Korea, aiming to narrow the gap with China [3] Geopolitical & Strategic Implications - The US maintains roughly 28,500 troops in South Korea, hosting its largest overseas military base, raising questions about the future role and size of the US presence [4] - South Korea, under President Lee, aims for a broader foreign policy, seeking improved relations with China and Russia, differing from the approach of his predecessor [5] - The US views China as the primary threat in the Indo-Pacific region, and South Korea's potential role in this competition remains uncertain [6] US-South Korea Relations - Newly elected South Korean President EJN is scheduled to visit the White House, with the trade deal being a key topic alongside lingering tensions [4] - South Korean officials used the slogan "Make American ship building great again" during negotiations with the US [3]

Monetary Policy Stance - The Federal Reserve decided to hold interest rates steady for the fifth consecutive meeting, indicating a pause in rate adjustments [1] - Two Fed governors dissented, favoring interest rate cuts, marking the first time in over 30 years that two governors have dissented at a meeting [1] - The debate centers on whether tariff-related inflation should be treated as a one-off event or a persistent pressure [1] - The Fed is closely monitoring incoming data, including inflation numbers and jobs reports, to make future decisions regarding interest rates [5][6] - The Fed aims to manage inflation efficiently without causing unnecessary damage to the labor market [4] Economic Assessment - The US economy is considered to be in a solid position, with a low unemployment rate and a labor market at or near maximum employment [1] - Elevated uncertainty persists despite the economy's solid position [1] Future Outlook - The Fed has not made any decisions about potential interest rate cuts in September and will evaluate data to determine if the federal funds rate is appropriate [5] - The Fed acknowledges the risk of moving too soon (potentially not fixing inflation) or too late (potentially damaging the labor market) [4]

Trade Policy & Deadlines - The US is approaching an August 1st deadline for imposing reciprocal tariffs on nations without trade agreements [1] - Multiple trade deals have been made leading up to the August 1st deadline, including deals in Southeast Asia and with the European Union [2][3] - A deal with India seems unlikely, with potential for a 25% reciprocal tariff [3] - The August 1st deadline is firm and will not be extended [4] China Trade Relations - Tariffs on goods from China currently range from 50% to 55%, depending on the product [5] - The deadline for Chinese tariffs is August 12th, with potential for extension by 90 days [5][6] - If no agreement is reached and the deadline isn't extended, tariffs on China could increase from 50-55% to 80-85% [6] - US and Chinese delegations are in meetings to avoid escalating the trade war [6][7] Overall Impact - US tariffs are expected to be significantly higher than when the Trump administration took office [8] - The US is becoming a more protectionist economy [9]

Fed Independence - An independent central bank has served the public well and should be respected as long as it continues to do so [2] - Independence allows the Fed to make challenging decisions based on data and evolving outlook, not political factors [2] - Governments worldwide have chosen to distance monetary policy decisions from direct political control [3] - Without independence, there would be a great temptation to use interest rates to affect elections [3] - The importance of Fed independence is widely understood, particularly in Congress [4]

Economic Outlook - The economy is in a solid position with a low unemployment rate and a labor market at or near maximum employment [1] - Inflation has been running somewhat above the 2% longer-run objective [1][3] - There's also downside risk to the labor market [5] Monetary Policy - The Federal Open Market Committee decided to leave the policy interest rate unchanged [2] - The current stance of monetary policy is believed to be well-positioned to respond to potential economic developments [2] - The policy rate is characterized as modestly restrictive [3] - Financial conditions are accommodative [4] - The economy is not performing as though restrictive policy were holding it back inappropriately [4] Future Considerations - In coming months, a good amount of data will help inform the assessment of the balance of risks and the appropriate setting of the federal funds rate [5]

Federal Reserve Chair Jerome Powell holds a news conference following the central bank's decision on interest rates. #Fed #JeromePowell #WSJ ...