Australia welcomes Trump's removal of beef tariffs, seeks more relief

U.S. President Donald Trump has reversed his previous stance and is now supporting a vote to release documents related to Jeffrey Epstein, the late sex offender. This change comes as Republicans are preparing to defy him regarding these documents, indicating a potential rift within the party over the handling of Epstein's case.

Former President Donald Trump has shifted his stance regarding the release of files related to Jeffrey Epstein, now urging Republicans to vote in favor of their release. Previously, Trump had dismissed the matter as a 'Democratic Hoax' and had been publicly feuding with Republicans advocating for the disclosure of these files. This change in position marks a significant turnaround in Trump's approach to the Epstein issue, reflecting a potential shift in his political strategy.

On November 16, 2025, President Trump announced a rollback of tariffs that had been affecting Indian farmers. This decision is expected to provide significant relief to the agricultural sector in India, which has faced challenges due to high tariffs on exports. The rollback is seen as a positive development for farmers who rely on international markets for their produce.

Trump has proposed $2,000 checks to address growing public frustration over the rising cost of living. However, according to Bessent, these checks would require a congressional vote to be implemented. This proposal comes amid reports of billions raised in US tariff revenue this year, which Trump has highlighted as a potential funding source for the checks.

The U.S. Coast Guard has reported a record seizure of 225 metric tons of cocaine over the past year, marking a nearly 40% increase compared to the annual average of the previous decade. This significant haul underscores ongoing challenges in drug interdiction efforts, particularly as former President Trump has publicly stated that such efforts have failed and has taken controversial actions, including blowing up suspected drug boats.

The most advanced U.S. aircraft carrier has arrived in the Caribbean as part of 'Operation Southern Spear,' which includes nearly a dozen Navy ships and approximately 12,000 sailors and Marines. This deployment comes amid increasing tensions in the region, particularly concerning Venezuela, where President Trump is reportedly expanding the fleet of warships. The operation signifies a significant military presence in the Caribbean, reflecting the U.S. commitment to regional security.

Australia's Big Four banks are taking steps to bypass mortgage brokers as they face squeezed profits. This strategic shift comes amid increasing pressure on the banks' profit margins, prompting them to reconsider their reliance on intermediaries in the mortgage market. The move reflects broader trends in the financial sector, where institutions are seeking to streamline operations and enhance profitability in a challenging economic environment.

Bessent has stated that the proposed $2,000 tariff checks require approval from Congress. This statement follows Trump's claim that the checks will be issued next year. The situation remains uncertain as it is unclear whether these checks have the necessary support from Congress.