What’s in Trump’s major tax bill? Extended cuts, deportations and more

President Trump is gearing up to roll out new tariffs—some as high as 70%—with official notices expected soon. These levies, set to kick in by August, signal a sharp escalation in trade policy that could ripple through consumer prices and global markets.

Editor’s Note: This isn’t just another headline about tariffs—it’s a big deal because these rates are some of the highest we’ve seen. Businesses relying on imports could face major cost hikes, and consumers might feel the pinch at the checkout. It also raises the stakes in ongoing trade tensions, potentially sparking retaliation from other countries. Buckle up.

OPEC+, the oil cartel led by Saudi Arabia and Russia, is likely to greenlight another modest production boost—around 411,000 barrels per day—for August. This follows their recent pattern of slowly turning the taps back on after pandemic cuts. While some members might not hit their quotas, experts don’t expect this move to shake up prices much.

Editor’s Note: Gas prices and inflation are still top of mind for everyone, so OPEC+’s decisions ripple straight into wallets and economies. This incremental hike suggests they’re playing it safe—balancing profit with fears of tipping the world into recession. Not a blockbuster move, but a signal of cautious control.

Former President Donald Trump announced that his administration will send letters to 10–12 countries this Friday regarding tariff rates, though he didn’t specify which nations or what changes might be coming. It’s part of his broader push to renegotiate trade terms, something he’s emphasized since his first term.

Editor’s Note: Tariffs can shake up global markets and consumer prices, so even vague hints about changes are worth watching. If Trump follows through, this could signal tougher trade stances—or just posturing ahead of elections. Either way, businesses and investors will be eyeing those letters closely.

Mexico's Finance Ministry is splitting off the trust operations of two banks—CIBanco and Intercam—that were taken over by the government. This comes after U.S. authorities accused them of allegedly laundering money tied to drug trafficking. Essentially, the government is trying to isolate and manage these risky parts separately.

Editor’s Note: Money laundering scandals in banks don’t just hurt reputations—they can force governments to step in and clean up the mess. Mexico’s move signals it’s serious about untangling these banks’ shady dealings, but it also raises questions about how deep the problem goes and whether more fallout is coming. For everyday customers and investors, it’s another reminder that financial crime can have real-world consequences.

A US judge has ruled that eight migrants can be deported to South Sudan imminently, removing a legal barrier that had previously delayed their removal. The decision comes amid ongoing debates about immigration enforcement and the treatment of asylum seekers.

Editor’s Note: This story highlights the real-world consequences of immigration policies—people facing deportation to a country still grappling with instability and conflict. It also underscores the power of judicial decisions in shaping individual lives, especially in contentious areas like asylum and deportation. For those following immigration debates, it’s another example of how legal rulings can swiftly alter fates.