Geopolitical and Economic Developments

New US Tariffs:

President Trump has announced new 30% tariffs against Mexico and the European Union, to begin on August 1st. He also plans to hit Canada with a 35% tariff and has signaled new tariffs for Iraq, Brazil, and the Philippines. Brazil has warned of retaliatory levies if Trump imposes a 50% tariff.

Gaza War:

The conflict in Gaza continues, with Israel intensifying attacks and reports of dozens of aid seekers killed. Rights advocates are calling for accountability after an American citizen was reportedly beaten to death by Israeli settlers in the West Bank.

Russia-Ukraine War:

The conflict is ongoing, with Russia hitting western Ukraine with drone and missile attacks. North Korea's Kim Jong Un has voiced "unconditional" support for Russia in Ukraine. Germany and the US are reportedly shifting gears to provide more aid to Kyiv.