☕ Trump and Putin to meet

Good morning!

After deliberations that lasted over a decade, a multibillion-euro bridge between Sicily to Italy’s mainland has been given the green light. It will be the world’s longest single-span bridge. Now, all roads do actually lead to Rome.

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Some headlines from this morning:

• President Trump announced Tuesday he will impose a 100% tariff on foreign semiconductors, while exempting companies that manufacture the computer chips in the U.S. The tariffs target essential components used in phones, cars, and other electronics, affecting major global suppliers. According to industry reports, Taiwan Semiconductor Manufacturing Company and South Korean manufacturers may receive exemptions, though the White House has not confirmed specific details. The administration plans to formally announce the policy next week.

• A U.S. Army sergeant has allegedly shot five soldiers at Fort Stewart base in Georgia on Wednesday before being tackled by fellow service members. Sergeant Quornelius Radford, 28, used what authorities described as a personal handgun in the afternoon shooting. All five injured soldiers are expected to recover from their wounds, according to base officials. Army investigators have not released a motive for the shooting, and Radford remains in custody.

• U.S officials have ordered NASA to fast-track plans to install a nuclear reactor on the moon. The technology would generate enough electricity to power about 80 homes, and support a permanent lunar base. NASA has been given 60 days to develop industry proposals for the project, after China and Russia announced they were considering a joint effort to establish a nuclear power station on the moon. U.S. Transport Secretary Sean Duffy has warned that whoever gets there first could block other countries from setting up their own lunar bases. "We're in a race to the moon," Duffy said.

• A new study found Los Angeles wildfires in January caused an estimated 440 excess deaths, far beyond the official toll of 31 direct fatalities. Researchers from the Journal of the American Medical Association compared predicted mortality rates to actual deaths from January 5 to February 1, attributing the additional deaths to smoke exposure and healthcare disruptions. The two major fires destroyed nearly 16,000 structures across Pacific Palisades and Altadena, scorching 59 square miles. The findings highlight the need to track indirect wildfire deaths alongside direct casualties, according to the study authors.

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President Trump's long-delayed tariffs on global trading partners came into effect Thursday, marking the latest escalation in his trade war with dozens of countries. The tariffs range from 10% to 50% and will increase costs on imports from over 90 nations. Here's what you need to know.

Liberation Day

Trump first announced "Liberation Day" tariffs on April 2, imposing taxes on imports from every U.S. trading partner. The president suspended the tariffs for 90 days to allow countries to negotiate trade deals, then extended the deadline again in July.

Several countries secured deals to avoid the highest tariffs, including the United Kingdom, European Union, Japan, and South Korea. These nations now face reduced tariff rates between 10% and 20%.

Which countries are hit hardest?

The tariffs hitting Thursday range from 10% to 41% across more than 90 countries. Switzerland faces 39% tariffs while Syria faces 41% - the highest rate imposed.

Trump also targeted specific countries for "punitive" tariffs based on their policies. Brazil faces 50% tariffs over its prosecution of former right-wing President Jair Bolsonaro. India will see its tariffs increase from 25% to 50% starting August 27 over its continued trade with Russia.

"Nations still trading with Russia could expect the same," Trump said Wednesday.

The impact

The tariffs apply on top of existing product-specific taxes, meaning some imports could face combined tariff rates exceeding 50%.

Trade experts warn the measures could drive up costs for everyday items from electronics to clothing, though the full impact remains unclear.

Trump signaled that additional tariffs on pharmaceuticals and semiconductors may follow. A deadline for China to reach a trade deal expires August 12, with unknown consequences if negotiations fail.

Legal challenges are pending in U.S. trade courts. "The only thing that can stop America's greatness is a radical left court," Trump posted on Truth Social Thursday.

The administration has not released details on how specific tariff rates were calculated or provided economic projections for the policy's impact.

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An aide to Russian leader Vladimir Putin has confirmed he will meet with President Trump as soon as next week. It comes after Trump said there's a "good chance" he'll meet with Russian leader Vladimir Putin as soon as next week, signaling a potential breakthrough in efforts to end the war in Ukraine. The announcement comes just days before Trump's Friday deadline for Russia to agree to a ceasefire or face additional sanctions.

Shifting strategy

Trump began his second term with a softer approach toward Russia, becoming the first president in decades to call Putin directly and publicly confronting Ukrainian President Volodymyr Zelenskyy during an Oval Office visit.

But his tone shifted three weeks ago after failed ceasefire attempts. "Putin talks nice and then he bombs everybody," Trump said, announcing he would impose "secondary sanctions" on Russia's remaining trade partners if no ceasefire was reached within 50 days.

Pressure intensifies

Trump has escalated pressure on Russia by targeting countries that continue trading with Moscow. Last week, he shortened his ceasefire deadline to just 10-12 days.

On Wednesday, he imposed 50% tariffs on India over its purchase of Russian oil, effectively implementing secondary sanctions before his Friday deadline. The tariffs take effect August 27, and Trump indicated that other countries buying Russian oil will face similar treatment.

High-stakes diplomacy

Trump told European leaders Wednesday he expects to meet Putin next week, followed by a separate meeting with Zelenskyy. He hopes to arrange a three-way summit to discuss peace terms.

The announcement followed a meeting between Trump's Special Envoy Steve Witkoff and Putin earlier Wednesday. "My special envoy, Steve Witkoff, just had a highly productive meeting with Russian President Vladimir Putin," Trump posted on Truth Social. "Great progress was made."

State Department

Secretary of State Marco Rubio cautioned against expectations getting too high. "A lot has to happen" before a three-way meeting becomes reality, he said, emphasizing the U.S. needs to understand what concessions Russia and Ukraine are willing to make.

Rubio's comments suggest significant gaps remain between the warring parties despite Trump's optimistic assessment.

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