President Trump celebrates passage of the One Big Beautiful Bill at the Iowa State Fairgrounds last week [from a White House video].
•President Trump imposes a 50% tariff on Brazil, despite our trade surplus with the country, in support of ex-President Jair Bolsonaro. Read Pundit-at-Large Stephen Macaulay’s take at our Substack.
THURSDAY 7/10/25
Trump Is Catching On – Almost half a year after Trump 47 Day One, the president is starting to play hardball with Russia’s dictator/President Vladimir Putin on ending the war in Ukraine. After President Trump reversed what appears to have been an unauthorized halt of US arms moving through Poland into Ukraine, Secretary of State Marco Rubio was in Kuala Lumpur, Malaysia, Thursday for the 58th Association of Southeast Asian Nations’ (ASEAN) foreign ministers meeting, where he had “a frank, important conversation” on the sidelines with Russian counterpart Sergei Lavrov, The Guardian reports.
“I echoed what the president said, both a disappointment and frustration at the lack of progress,” Rubio told reporters.
Agence France-Presse reported that Lavrov had shared a “new idea” on Ukraine, but Rubio said the “new idea” was not one that would automatically lead to peace but rather “could open a door to a new path.”
Meanwhile … Ukrainian President Volodymyr Zelenskyy Thursday called on Europe to launch a Marshall Plan-style reconstruction strategy for his country, on Day One of the Ukraine Recovery Conference in Rome, The Kyiv Independent reports.
“We need a Marshall Plan-style approach,” Zelenskyy said, “and we should develop it together. Rebuilding Ukraine is not just about our country. It’s also about your countries, your companies, your technology, your jobs.”
Quite the antithesis of the “my country first” approach being practiced in Trump’s isolationist US.
Zelenskyy’s remarks came after another heavy overnight attack on Kyiv by Moscow, in which drones and ballistic missiles killed two. In its largest-ever drone and missile strike on Ukraine, Moscow over the last couple of days dropped 18 missiles and about 400 drones on Kyiv, including 200 Shahed-type “kamikaze” models on the capital, killing 12 and injuring 60, according to Zelenskyy.
Back on the Hill … Majority Leader John Thune (R-SD) hopes to pass “tough” sanctions against Russia by the Senate’s August recess via a bipartisan bill sponsored by Trump ally and hardliner on Russia Sen. Lindsey Graham (R-SC), The Hill reports. –TL
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WEDNESDAY 7/9/25
First Elon, Now Putin? – President Trump Tuesday accused Russian dictator/President Vladimir Putin of “meaningless” gestures toward peace efforts in Ukraine, as well as lobbing “a lot of bullshit” at the US and his administration, per The New York Times.
Why wouldn’t Putin lob the B.S., after Trump admitted his promise to end the Russia-Ukraine War on Day One was a joke? Since then, Putin has taken advantage of unrealized ceasefires and Trump’s promise to cut off military aid to Ukraine to up his military’s attacks in order to have more of Ukraine under Russian control when (if) an agreement finally is reached.
Trump’s comments come as he has announced the US will resume Biden administration-arranged arm shipments to Ukraine that had been held up in Poland. CNN reported Tuesday that Defense Secretary Pete Hegseth ordered the shipments held from Ukraine without informing the White House.
[Read “Trump Brings His Art of Tariffs to Ukraine” at our Substack.]
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Take That, Copper – President Trump will impose a 50% tariff on copper, a core electrical component also found in many home appliances, he said at his Tuesday cabinet meeting. Trump did not say when the copper tariff would take effect, USA Today reports, and there was no such executive order listed at whitehouse.gov Wednesday.
“I believe the tariff on copper, we’re going to make 50%,” Trump said.
Watch out, Pharma … It gets much tougher on pharmaceuticals, which Trump said would face tariffs at “a very high rate, like 200%,” according to the report. The president said such a tariff would not go into effect for at least a year, to give pharmaceutical manufacturers time to prepare – presumably to move manufacturing from Northern Europe to the US. --TL
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TUESDAY 7/8/25
Hey! It’s Taco Tuesday – Here’s the latest, so start planning, importer/exporters. Japan, South Korea and South Africa are among the nations that will face tariffs of as much as 40% in tariffs by the Trump administration, which has delayed their implementation from Wednesday to Friday, August 1, The Guardian reports. Is that new deadline firm? asked a reporter.
“I would say firm, but not 100% firm,” Trump replied. “If they call up and they say we’d like to do something in a different way, we’re going to be open to that.”
The latest:
•Bangladesh: 35%
•Bosnia and Herzegovina: 30%
•Cambodia: 36%
•Indonesia: 32%
•Japan: 25%
•Kazakhstan: 25%
•Laos: 40%
•Malaysia: 25%
•Myanmar: 40%
•Serbia: 35%
•South Africa: 30%
•South Korea: 25%
•Thailand: 36%
•Tunisia: 25%
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Netanyahu Nominates Trump – What came out of Israeli Prime Minister Benjamin Netanyahu’s White House meeting with President Trump Monday? The two discussed Gaza’s future (will Netanyahu’s Israel run it after he ends the war? We don’t know just yet) and Israel’s relationship with its Persian Gulf neighbors, The New York Times reports.
They both celebrated US air strikes on Iran’s nuclear facilities, the selfsame facilities which Trump argues the strikes “obliterated.”
Then Netanyahu announced from the Blue Room where reporters were gathered that he had nominated Trump for a Nobel Peace Prize.
“He’s forging peace,” Netanyahu said, “as we speak, in one country in the region after another.
Trump compared his Defense Department’s strikes on Iran’s nukes to President Truman’s nuclear bombing of Hiroshima and Nagasaki, Japan, at the end of World War II.
“That stopped a lot of fighting and this stopped a lot of fighting,” Trump said.
Netanyahu has talks scheduled through Thursday with Vice President Vance, Defense Secretary Pete Hegseth and House Speaker Mike Johnson (R-LA). –TL
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MONDAY 7/7/25
On Again – President Trump’s 90-day hold on his April 2 tariffs end Wednesday, but it appears the rest of the world will have three more weeks to iron out a deal as dozens of letters go out to those countries informing them of their rates, Monday. Trump said last week new tariff rates could be between 10% to 70%, with payments due August 1, according to The Wall Street Journal.
“President Trump’s going to be sending letters to some of our trading partners saying that if you don’t move things along, then on August 1, you will boomerang back to your April 2 tariff level,” Treasury Secretary Scott Bessent told CNN’s State of the Union Sunday.
The administration has two tariff deals so far; With the UK, where auto import tariffs have been cut from 27.5% down to 10% and aerospace tariffs have been eliminated, and Viet Nam, where direct imports have a 20% tariff and imports that transfer through Viet Nam are 40%.
“We have far more than 170 countries,” Trump said per the WSJ. “And how many deals can you make? And you can take good deals, but they’re much more complicated.”
Hitting BRICS … Trump also has threatened an extra 10% tariff on countries he says align with ‘anti-American’ BRICS policies. The original BRICS members are Brazil, Russia, India and China, but more recently Egypt, the United Arab Emirates, Ethopia, Indonesia and Iran have been added and are meeting at the organization’s annual summit in Rio de Janeiro.
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Party On, Elon – Former DOGEmaster Elon Musk said on X-Twitter Saturday he has officially formed his America Party, a response to President Trump’s One Big Beautiful Bill and its effect on the federal deficit, The Hill reports.
“By a factor of 2 to 1, you want a new political party and you shall have it,” Musk tweeted. “When it comes to bankrupting our country with waste and graft, we have a one party system, not a democracy.”
Tesla shares fell 7% in pre-market trading Monday, CNBC reports. --Compiled and edited by Todd Lassa
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Beautiful?
INDEPENDENCE DAY 2025
Trump’s Independence Day Celebration – As anticipated, President Trump holds a bill-signing ceremony on Friday, July 4th, for the One Big Beautiful Bill Act, the tax and spending reconciliation that passed in the House Thursday after the Senate version contributed an extra $0.9 trillion to the federal deficit for the next decade, according to the Congressional Budget Office.
House Minority Leader Hakeem Jeffries (D-NY), tried to delay its passage as long as he could, speaking for more than eight hours on Thursday before its 218-214 passage, NPR’s Morning Edition reports. There were two Republican defections in the vote, according to Roll Call; budget hawk Thomas Massie, of Kentucky, and Brian Fitzpatrick, whose Pennsylvania district backed Vice President Kamala Harris in last November’s presidential election.
Conservative Republicans who back the president’s agenda contained in the bill say the its $3.3 trillion extra contribution to the federal deficit over the next decade, according to the CBO, is not “dynamic” scoring in that it does not consider what all those tax cuts extended to the wealthy and to corporations will do for business investment and good-job growth. Their argument against a “socialist” type of higher taxes for the wealthy and corporations, combined with federal regulations and “choosing winners” via green energy incentives goes back past Reaganism, to conservative arguments against FDR’s New Deal.
Trump has successfully carried this further for his supporters, easily slipping from calling Democrats “socialists” to calling them “communists.”
Democrats and some Republicans argue the bill’s Medicaid cuts and other federal safety net cuts will hurt many of the same citizens who voted for Trump’s populism. Those Medicaid cuts will result in the shutdown of hospitals across the nation, most of them in poor rural areas, they argue.
Also notable is that after decades of debt-ceiling resistance from Republicans in Congress, leading to several federal government shutdowns and near-shutdowns over the years, the One Big Beautiful Bill raises the ceiling for Trump by $5 trillion.
Meanwhile … Jeffries has said that Trump “ran up more debt than any other president in American history,” a statement that PoltiFact calls “mostly false.”
According to the website The Balance, covering economics and fiscal policy,
President Obama rang up $6.781 trillion to Trump’s $6.6 trillion in debt, though Obama took eight years to spend that, while Trump 45 took just four years to fall $181 billion short of his predecessor.
--Todd Lassa
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INDEPENDENCE DAY 2025