US News
LAST UPDATE: July 23, 2025
Americans Are Paying for Trump’s Tariffs, Not Foreign Companies
Analysis from Deutsche Bank and Bloomberg shows that the economic burden of Trump’s tariffs is being absorbed primarily by US consumers and businesses, not foreign exporters.
Insight
This undermines the administration’s messaging, as the cost is effectively domestic—squeezing consumers and corporate profits rather than foreign producers.
US Treasury chief says no reason for Fed chair to step down
Treasury Secretary Scott Bessent said that Federal Reserve Chair Jerome Powell has no immediate reason to resign, noting Powell should complete his first term, which runs through May 2026.
Insight
Bessent’s stance reinforces support for central bank independence amidst pressure from the White House, signaling cohesion in fiscal-monetary coordination.
Mike Johnson shuts US House early to avoid Epstein vote
House Speaker Mike Johnson abruptly moved up the summer recess to avoid a vote on releasing Jeffrey Epstein-related documents, citing procedural gridlock and labeling it a “Democrat sideshow”.
Insight
The incident reveals internal GOP tensions and Trump-era influence, raising concerns about transparency and legislative responsiveness.
