Money, Wealth & Power—A Daily Look at the Financial World
President Donald Trump announced late Friday night that the United States has entered an agreement handing it a majority claim on the output of 17 Venezuelan oil fields, an arrangement he called the biggest oil deal in world history. Trump said it was negotiated by Secretary of State Marco Rubio and Secretary of War Pete…
President Donald Trump has declared a national emergency over the foreign supply chain feeding America’s electric grid, invoking emergency economic powers to confront what the administration calls a deliberate vulnerability built into imported power equipment. The order, signed August 26, 2026, gives the Secretary of Energy sweeping new authority to block, condition, or unwind foreign-made…
President Donald Trump tore up months of negotiation with Canada this week and answered the collapse with a threat aimed straight at the heart of the Canadian economy: a 50% tariff on every car, truck, auto part and steel shipment crossing the border into the United States, set to take effect January 1, 2027. The…
The Trump administration opened a new and possibly final front against Iran on Monday, and it is being fought with banks and blacklists rather than bombs. Treasury Secretary Scott Bessent announced a sweeping sanctions campaign he called Operation Economic Outcast, framing it as the endgame of a confrontation that has already seen American forces batter…
California tried to stop the Trump administration’s order keeping a major coastal oil pipeline in operation. A federal judge rejected the state’s bid, leaving roughly 50,000 barrels a day moving through a system the administration says is vital to West Coast fuel supplies and military readiness. The ruling is a sharp federalism victory for President…
The grocery-price problem that has followed Republicans all year finally got a presidential answer on Friday, and the answer landed on the wrong people. Donald Trump announced that the United States would waive the out-of-quota tariff on as much as 300,000 metric tons of imported product for ground beef over the next ninety days, in…
The clock the White House started in Islamabad ran out on Monday. The memorandum of understanding that Donald Trump and Iranian President Masoud Pezeshkian signed remotely on June 17 gave the two governments 60 days to turn a ceasefire into a permanent settlement, and the deadline arrived with no negotiations underway, no deal in sight,…
The Trump administration went over the heads of every judge who has tried to slow construction of the president’s new White House ballroom and asked the Supreme Court to let the cranes keep running. The application reached Chief Justice John Roberts on Thursday, one week after a divided federal appeals court panel ruled that Congress,…
President Donald Trump’s threat to slam a 50% tariff on roughly $20 billion in Canadian cars, alcohol and dairy is now days from becoming real, and Ottawa is signaling it may respond by torching the trade talks meant to hold the two economies together. With the duties set to take effect Aug 19, Canadian negotiators…
President Donald Trump has never been shy about claiming a win, and on Monday he claimed one of the biggest of his second term: total command of the Strait of Hormuz. Standing in the Oval Office, the president told reporters the United States now controls the world’s most important oil chokepoint “100 percent,” describing the…
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