AnewZ Morning Brief - 26th July, 2025
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 26th of July, covering the latest developments you need to kno...
High tariffs are expected to remain a core feature of Donald Trump's trade policy even after new trade agreements are reached, according to several current and former advisers who spoke with Reuters.
Despite internal differences over the theory behind tariffs, most advisers agree the U.S. will emerge from ongoing trade negotiations with elevated duties on imports.
Trump’s recent imposition of tariffs last month has roiled global markets, angered trade partners, and contributed to a slowdown in the world economy. The U.S. economy contracted in the first quarter of 2025—the first time since 2022—as trade weighed heavily on growth. Opinion polls show growing voter concern over Trump’s tariff strategy and overall economic management.
Stephen Miran, chair of the Council of Economic Advisers, told Reuters that Trump is redefining U.S. trade strategy and argued that volatility in markets and data is temporary. He supported the idea of an “optimal tariff rate” that could boost both tax revenue and economic performance. While Miran previously published a paper suggesting a 20% tariff rate could benefit the U.S., he clarified the paper predated his current role and does not represent administration policy.
Peter Navarro, Trump’s senior counselor for trade and manufacturing, also backed the concept of an optimal tariff. He argued tariffs could correct trade imbalances and bring back jobs, calling current efforts “the last chance” to reverse decades of unfair trade.
On Friday, Trump signaled further escalation, saying tariffs of 80% on Chinese goods “seems right,” just ahead of planned trade talks with Beijing. A limited bilateral deal with the UK announced Thursday kept a 10% tariff on British exports, while easing restrictions on cars and agriculture.
However, economists remain deeply divided. Nouriel Roubini, known for predicting the 2008 financial crisis, said under a baseline scenario with average tariffs at 10%—and 60% on China—inflation could rise to 4%, potentially triggering a recession by year’s end. He warned that higher tariffs could result in a deeper global downturn.
Former Treasury official Lawrence Summers also cautioned that broad-based tariffs could lead to a recession, noting there may be limited cases for targeted tariffs but not for sweeping restrictions.
Trump’s aggressive trade stance—long a feature of his political identity—has become more potent in his second term. According to former Commerce Secretary Wilbur Ross, the administration has discovered extensive executive powers to impose tariffs unilaterally. Trump now wields greater control over Congress and the Republican Party, giving him freer rein to link tariffs to issues such as national security and fentanyl trafficking.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 26th of July, covering the latest developments you need to know.
Liberal MPs are openly urging the Canadian government to follow France in recognising Palestine as a state.
U.S. Secretary of State Marco Rubio on Friday praised Pakistan's role in promoting regional stability and discussed deeper cooperation on counterterrorism, trade, and critical minerals during a meeting in Washington with Deputy Prime Minister Ishaq Dar.
President Volodymyr Zelenskyy said on Friday that Ukrainian forces are engaged in intense battles near the eastern city of Pokrovsk, a critical logistics center where Russian forces have been steadily advancing and claiming new territory almost daily.
President Donald Trump arrived in Scotland on Friday, combining diplomacy with business as his family prepares to open a new golf course on 13 August in Balmedie, Aberdeenshire.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment