US News
LAST UPDATE: June 13, 2025
US House passes Trump cuts of $9.4 billion for foreign aid, broadcasting
On June 12, the U.S. House narrowly approved a $9.4 billion rescission package, slashing $8.3 billion from foreign aid and $1.1 billion from public broadcasting (NPR/PBS) in a 214–212 vote .
Insight
This marks a deepening of the “America First” fiscal agenda, prioritizing domestic spending over foreign commitments. Critics warn that cutting global health and media funding could erode U.S. influence and jeopardize lifesaving programs like PEPFAR.
Home appliances swept up in expansion of Trump steel tariffs
Effective June 23, under the expanded steel rule, a 50% tariff will now apply to eight new categories: dishwashers, washing machines, refrigerators, freezers, stoves, disposals, dryers, and welded wire racks .
Insight
By extending steel tariffs to consumer appliances, the administration is reinforcing protection for U.S. steel producers. However, this may raise prices for consumers and appliance retailers, underscoring the spillover effects of trade policy on everyday goods.
State department planning to lay off hundreds of US-based staff
The U.S. State Department, under Secretary Rubio and aligned with the Biden administration’s efficiency drive, plans to cut approximately 1,600 U.S.-based civil and foreign service jobs (~15% of domestic workforce), close 132 offices, and reshuffle layoff criteria—triggering union pushback (ft.com).
Insight
This sweeping reorganization signals a sharp shift in U.S. diplomacy capacity. By sidelining performance-based layoff rules, the administration risks losing institutional knowledge, drawing internal resistance. The tension between political appointees and career staff highlights governance strain and could impact foreign policy implementation.
Dollar’s Haven Status Faces a Key Test After Israel Strikes Iran
The U.S. dollar showed only a mild recovery following Israel’s strike on Iran—unusual for a traditional safe-haven. The Bloomberg dollar index remains near a three-year low despite surging oil prices and flight-to-safety flows .
Insight
This response suggests that shifting perceptions of risk and America’s changing global role may be eroding the dollar’s crisis premium. With competition from other currencies and evolving investor confidence, the dollar’s robustness during geopolitical crises may no longer be guaranteed.
