The previous week has been a whirlwind of financial and political occasions. From record-breaking customs responsibility collections to billionaire traders casting doubt on tariff outcomes, the week was crammed with intriguing tales. Right here’s a fast recap of the highest 5 tales that made headlines.
US Customs Responsibility Assortment Hits Report Excessive
The U.S. Treasury Division introduced that for the primary time in historical past, the nation’s customs responsibility collections have exceeded $100 billion in a fiscal 12 months. The record-breaking assortment for June 2025 alone was $27 billion, leading to a stunning funds surplus for the month. The surge is basically attributed to President Donald Trump’s tariffs, which have grow to be a big income supply for the federal authorities.
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Ray Dalio Questions Effectiveness of Trump’s Tariffs
Billionaire investor Ray Dalio expressed skepticism concerning the potential effectiveness of President Trump’s tariffs in reviving U.S. manufacturing. He warned that the tariffs might deepen “stagflation” and should not ship on guarantees to rejuvenate U.S. manufacturing facility flooring.
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Peter Schiff Warns Towards Trump’s Tax Cuts
Economist Peter Schiff cautioned that President Trump’s newest tax and spending bundle might hurt the U.S. financial system greater than it helps. He argued that the tax cuts, which add to funds deficits, received’t stimulate financial development however will as a substitute result in greater long-term rates of interest and inflation.
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Trump Threatens Brazil with 50% Tariffs
Tensions escalated between america and Brazil after President Trump threatened to impose 50% tariffs on imports from the South American nation. The menace got here in a letter to Brazilian President Luiz Inácio Lula da Silva, by which Trump additionally referred to as the trial of former President Jair Bolsonaro a “Witch Hunt.”
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Craig Shapiro Criticizes Jerome Powell’s Legacy
Macro strategist Craig Shapiro criticized Fed Chair Jerome Powell’s tenure, alleging that the Federal Reserve underneath Powell has deviated from its core mission of serving the general public. Shapiro accused the Fed of ceasing to battle inflation, deepening inequality, and quietly surrendering financial management again to the U.S. Treasury.
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This story was generated utilizing Benzinga Neuro and edited by Rounak Jain
Photograph courtesy: Shutterstock
