Good morning. This is Horizon's Middle East and Africa. Our top stories this morning, Israel's security cabinet approves Prime Minister Benjamin Netanyahu's plans to take full control of Gaza City.President Trump nominated Steven Miron to temporarily fill Adriana Kugler seat on the Fed board. Meanwhile, Christopher Waller is the leading choice amongst Trump's advisors as the next chair. Plus, Japan's top trade negotiator says the US has confirmed it will end stacking of universal tariffs on Tokyo and cut ca ...

Epstein Scandal & White House Response - The White House allegedly held a meeting to discuss the Epstein scandal, despite initial denials from VP Vance [1] - Reports suggest a strategy meeting was cancelled in response to reporting about it, indicating an attempt to manage optics [1] - Trump's claims about banning Epstein from Mar-a-Lago are being questioned, fueling further scrutiny [1] - MAGA figures are expressing discontent with the administration's handling of the Epstein case, signaling a potential revolt [1] Trump's Actions & Economic Impact - Trump is accused of using Soviet-style tactics, creating an alternate reality and potentially chilling free speech [5] - The administration's interventionist approach is likened to that of strongmen in countries like Turkey and Argentina [4] - New tariffs are described as a $300 billion tax hike, disproportionately affecting working and middle-class Americans [4] - Concerns are raised about Trump's meddling in private companies, including suggesting CEOs should resign, leading to market instability [3] Free Speech & Corporate Influence - Bob Woodward criticizes Trump's First Amendment crackdowns as "pathetic" [5] - Corporations are allegedly influenced by Trump, with examples given of Paramount/Skyance merger and Colbert's cancellation [5] - A novelist who grew up in Russia draws parallels between Trump's actions and Soviet censorship, raising concerns about self-censorship [5] - There are concerns that people are afraid to voice their true feelings, leading to a distorted reality [5]

The US government has placed tariffs on imports of one-kilogram gold bars, threatening to shake up the bullion market and dealing a blow to Swiss trade, the Financial Times has reported https://t.co/aBG4jI6656 ...

Economic Policy & Impact - Tariffs are viewed as a tax increase on working people, potentially the largest since the 1930s [2][11] - The manufacturing sector experienced job losses, with approximately 26,000 jobs lost in May and June, and a preliminary estimate of 11,000 jobs lost in July [5] - Concerns exist regarding the feasibility of rapidly reshoring manufacturing, comparing the US manufacturing sector's current state to a person who hasn't exercised in 30 years [6] - Potential loss of energy tax credits could negatively impact employment in the renewable energy sector and innovation in battery technology [7] - Companies are challenging the legality of tariffs and demanding repayment of tariff fees already paid, which could undermine the argument that tariffs generate revenue for tax cuts [9][10] - Tariffs on American chips could undermine the progress made by the CHIPS Act in ensuring competitiveness with China in vital technologies [12][13] - The application of tariffs to allies is driving them closer to China, effectively prioritizing China's interests over America's [13][14] Political & Public Perception - Voters were dissatisfied with the economy under the Biden administration [1] - The speaker believes Trump is repeating the mistake of ignoring the discontent among American voters [1] - Trump's promises to quickly end inflation are not being met, and his actions, such as tariffs, are seen as contributing to rising costs [2] - Trump is perceived as treating people as unintelligent, particularly regarding the Epstein files and economic data [3][4] - Trump is accused of lying about the revenue generated by tariffs and its use for tax cuts [10] - Special treatment for corrupt elites is seen as the opposite of what people were promised, leading to outrage [12]

The premium for gold futures in New York jumped as markets opened in Asia on Friday, following a Financial Times report that said imports of one-kilogram bullion bars are now subject to US tariffs https://t.co/5Xlj9uvJmb ...

Hey, I'm Kramer. Welcome to Mad Money. Welcome to Crane America. Other people do my make friends. Hey, I'm just trying to make you a little money. My job is not just to teach you, but to educate, entertain, too. So, call me at 1800743 CBC. Tweet me at Jim Kramer. In any given market, you need to understand the themes, what's really going on, not in the averages, but underneath. So, on a day where the Dow lost 224 points, as we shed 008%, but the NASDAQ, where the hottest stocks are, gain 35%. Let's take a m ...

Market Sentiment & Economic Indicators - The market showed some discouragement due to Bloomberg's report suggesting Waller, perceived as less dovish, as a top candidate for Fed chair [2] - Continuing claims experienced a jump, indicating a situation where companies are not firing but also not actively hiring [2] - Tepid treasury auctions, particularly the 30-year and 10-year, contributed to market pullback after a significant run [2] - Earnings are generally strong, and guidance is positive, even with upcoming tariffs [4] Tariff Impact & Trade Policy - The Trump administration is showing flexibility regarding tariffs, offering better deals to those who come to the table [5] - UBS suggests the US effective tariff rate will settle around 15%, enough to weigh on growth and lift inflation but not derail the US economy or equity rally [6] - New tariffs were announced, but exceptions were made for chip manufacturers who build in the US, removing tariffs for them [4] Monetary Policy & Interest Rates - Waller and Bowman have urged the Fed to see through the tariffs as a one-time tax increase, not as demand-driven inflation [7] - If the view of seeing through tariffs becomes more pervasive at the Fed, interest rates could decrease due to the inversion of the curve [7] - The spread between Fed funds at 44 basis points (0.44%) and the 10-year at 42 basis points (0.42%) suggests room for rates to move down [8]

If there’s a playbook companies can follow to avoid more tariffs, Apple may have found it. https://t.co/CaVQAH7kBt ...

Modi will visit China and speak with Brazil’s Lula amid US tariffs hitting both nations https://t.co/yoXLojwBbk ...

Tariff Policy & Economic Impact - The market has largely priced in the volatility stemming from current tariff policies [2] - Uncertainty surrounding tariff policies persists, hindering clarity for US companies and consumers [3] - Tariffs can be effective when their purpose and cost-benefit analysis are clear [3] - The Trump administration is employing tariffs in novel ways, the economic consequences of which remain uncertain [4][5] - A Yale University study suggests that existing tariffs could cost the average American family an additional $2,500 per year [8] Trade Negotiations & Agreements - The threat of high tariffs has prompted key trading partners like the EU, Japan, and Korea to engage in negotiations [10] - Agreements reached are currently frameworks, lacking specific details and enforcement mechanisms [11][12] - It remains uncertain whether these trade actions will lead to positive global trade outcomes [13] - The administration's dual aim of using tariffs as a negotiating tool and revenue source presents a challenge [14] Geopolitical Considerations - The president is using secondary tariffs, initially on India, to pressure Russia to end the war, but China is the largest consumer of Russian oil [18][19]