_{US NEWS}

Aug. 1 is ‘hard deadline’ for Trump’s tariffs, Commerce Secretary Lutnick says

Commerce Secretary Howard Lutnick confirmed that the U.S. will impose new tariffs starting August 1, marking a firm deadline for trading partners to comply with President Trump's revised trade policy.

• Lutnick emphasized that while talks can continue beyond August 1, countries will begin paying the new tariffs immediately. Smaller nations, including many in Latin America, the Caribbean, and Africa, will face baseline rates of 10%, while larger economies must either negotiate or face higher tariffs—up to 40% in some cases.

• The announcement ends months of uncertainty since Trump first introduced the new tariff plan in April. Recent letters sent to foreign governments have triggered last-minute negotiations, as countries seek to avoid the steepest levies.

• Trump’s administration argues the tariffs are a means to force fairer trade, but critics warn they may provoke retaliation and raise global economic tensions, especially as the policy could dramatically impact U.S. allies and trade flows. Read More. 

_{US NEWS}

Fed Chair Jerome Powell hit with criminal referral by House GOP Trump ally

Rep. Anna Paulina Luna has formally referred Federal Reserve Chair Jerome Powell to the Department of Justice for criminal investigation, accusing him of perjury in connection with testimony about the costly renovation of the Fed’s Eccles Building.

Luna alleges Powell made materially false statements under oath during Senate testimony in June, specifically denying the existence of luxury features like a VIP dining room and rooftop garden, while claiming cost increases were minor—despite internal documents showing otherwise.

The referral intensifies pressure from Trump-aligned conservatives who want Powell removed before his term ends in 2026, though Powell denies wrongdoing and has launched an internal probe; critics warn firing him could destabilize markets already sensitive to Fed actions. Read More.