All articles tagged with #us politics and policy
Donald Trump urged voters to embrace AI data centres, saying opponents want to end up 'backwards and poor' while lawmakers from both parties pause or audit projects amid rising energy costs and concerns about Big Tech power, risking a slowdown in a $150bn nationwide infrastructure boom ahead of the midterm elections.
The Trump administration unveiled an agreement making Alejandro Betancourt’s NABEP the minority partner in a new company that will oversee more than 65 billion barrels of Venezuela’s oil reserves, with licences or joint ventures planned for 17 fields and potential investor guarantees from the Office of Strategic Capital to lure funding. While the aim is to restore confidence in Venezuela’s oil sector, analysts warn the deal raises questions about its long-term legitimacy, the possibility of future renegotiation, and the political risks for investors, as major oil companies remain cautious and no upfront funding is provided.
Karoline Leavitt, the youngest White House press secretary, announced she will resign at the end of August after 19 months in the role, a tenure longer than most predecessors and praised by Donald Trump for her combative, media-savvy style. She transformed the briefing room with influencer briefings and viral clips while clashing with reporters; her departure will force Trump to search for a successor to one of the administration’s most high-profile positions.
Francesca Hong, a Democratic socialist and Wisconsin state legislator, leads the Democratic primary for governor with a solid polling edge, signaling a rise of progressive candidates even as party figures worry her platform—abolishing the police and prisons—may complicate a general-election bid against Republican Tom Tiffany; her candidacy has drawn scrutiny over past social posts, but she remains the front-runner heading into Tuesday's primary in a swing state.
Even with more than $225 million spent by the crypto industry to influence Washington since Jan 2025, the Senate has stalled on the Clarity Act, a first-of-its-kind digital assets framework, with no vote scheduled as lawmakers negotiate; the House has passed its version, while Republicans and Democrats clash over bank customer protections, enforcement by Gary Gensler, and ethics rules around Trump’s crypto holdings—a lobbying push that has made crypto donors one of the top funding sources in the 2026 cycle.
Trump has renewed an effort to fire Federal Reserve Governor Lisa Cook despite a Supreme Court ruling allowing her to stay while her case proceeds, with a White House letter giving Cook 21 days to respond to mortgage‑fraud allegations and reigniting concerns about the Fed's independence.
Washington’s move to sell euros to buy yen blindsided the ECB, marking a rare, less-coordinated Western currency intervention. The action used the Exchange Stabilization Fund without formal coordination with foreign authorities, highlighting a break with decades of mutual trust among central banks and prompting questions about future cooperation in currency markets.
Oil fell about 4% to below $80 a barrel after Scott Bessent suggested a deal to reopen the Strait of Hormuz could come this week; two sources said Iran and Oman had agreed on a temporary shipping arrangement routing traffic through Iranian waters and an Oman‑run channel, awaiting final sign‑off by Iran’s leadership. If sealed, the US would lift its naval blockade and resume Iran’s oil sales, helping lift stocks as investors welcomed potential de‑escalation in the region.
Ro Khanna, the top Democrat on the House China committee, says the Trump administration undermined Biden-era Chips Act incentives to boost U.S. memory-chip manufacturing, risking higher consumer electronics prices and greater reliance on Chinese suppliers like CXMT, which the Pentagon has blacklisted over alleged military ties. Apple is lobbying for clearance to buy CXMT chips amid AI-driven demand, while Khanna seeks clarity on funding under the act that could be delayed or withheld.
President Trump announced on Truth Social that the US will launch a new tariff probe into the European Union in retaliation for fines on U.S. tech firms, a move that could sharpen transatlantic tensions after Brussels fined Google €890 million and had previously penalised Apple, Meta and Amazon under digital-regulation rules.
Trump Media & Technology Group reportedly pitched a $100,000-per-month premium feed, called the Truth API, to traders for ultrafast access to President Trump's Truth Social posts, arguing that every millisecond matters for market moves. The six-figure fee would target institutional data users like hedge funds, and the idea drew backlash as Trump’s posts have historically moved stock prices; the service would run 24/7, though the public would likely notice little speed difference.
White House adviser Stephen Miller told a state department–hosted international summit that left-wing extremism is a 'fatal cancer to civilisation' and warned it has been a blind spot in counterterrorism. The administration says left-wing violence has risen in the US since 2016 and has framed left-wing groups as anti-American or anarchist in its domestic strategy, while critics warn the focus could erode civil liberties and enable political targeting. Rubio called left-wing terrorism a 'distinctive and unique evil'; the administration has designated European left-wing groups as foreign terrorist organisations, and CSIS analyses show left-wing violence rising but still less lethal than right-wing or jihadi violence. Democrats and the ACLU have pressed for data and cautioned about potential abuses of domestic counterterrorism powers.
Trump dropped his objections to the Gordie Howe International Bridge, clearing a $4.5 billion link between Windsor, Ontario and Detroit, Michigan that is now set to open on July 27. Canada and the US agreed on toll governance measures and a 15-year economic development fund tied to bridge profits. Officials say the project will boost cross-border trade and regional economic activity for generations, though ties to donors and rival toll routes have colored the broader political backdrop.
Trump is piling pressure on US companies to cut prices as inflation remains elevated (about 4.2% in May). He has touted Walmart’s price reductions and urged others to follow, signaling increased government involvement in free markets ahead of the 2026 midterms. Analysts warn the approach risks longer‑term market distortions, even as some supply‑side actions show short‑term relief.
Outgoing Trump adviser Sriram Krishnan says there will be no centralized AI regulator or FDA-style licensing regime under Trump, advocating light-touch, industry-led oversight and a voluntary framework to avoid slowing innovation. The stance comes as the White House has used emergency powers to pause ultra‑advanced models (notably Anthropic’s Mythos and OpenAI’s 5.6), and ahead of a 30‑day model-review window established by a recent executive order. Krishnan also argues the AI backlash is fueled by industry messaging and that regular people should see tangible benefits from AI, not just a few powerful firms.