“Six months into his new administration, President Trump’s assault on global trade has lost any semblance of organization or structure,” the New York Times reports.

“He has changed deadlines suddenly. He has blown up negotiations at the 11th hour, often raising unexpected issues. He has tied his tariffs to complaints that have nothing to do with trade, like Brazil’s treatment of its former president, Jair Bolsonaro, or the flow of fentanyl from Canada…”

“The resulting uncertainty is preventing companies and countries from making plans as the rules of global commerce give way to a state of chaos.”

“North Korea is now supplying as much as 40% of Russia’s ammunition for the war in Ukraine as the partnership between Pyongyang and Moscow deepens, according to the head of Ukrainian military intelligence,” Bloomberg reports.

“Kim Jong Un’s regime is also sending other weapons to Russia, including ballistic missiles and artillery systems.”

“President Donald Trump is weighing a new military aid package for Ukraine worth hundreds of millions of dollars, the first potential aid sent by the administration to the beleaguered country,” Politico reports.

“A new weapons package, which senior Republican lawmakers have sought, would underline the administration’s internal divisions over Ukraine assistance as its battle against Russia grinds past a third year.”

“The State Department is laying off more than 1,300 employees as part of a sweeping reorganization plan that Trump administration officials say will cut down on unwieldy bureaucracy and modernize the agency,” the Wall Street Journal reports.

“The department on Friday began notifying the employees being let go, including more than 1,100 civil servants and around 250 foreign-service officers.”

“It seems that nothing Canada has tried so far has shielded it from the threats of Donald Trump,” Bloomberg reports.

“Barely a week after Trump and Prime Minister Mark Carney restarted trade talks, with Canada targeting an agreement by July 21, Trump published a new broadside on one of the US’s largest trading partners, threatening a 35% tariff.”

New York Times: Trump threatens higher tariffs on Canada in the middle of trade talks.

“Vietnam’s leadership was caught off guard by US President Donald Trump’s announcement last week that it agreed to a 20% tariff, and the Southeast Asian nation is still seeking to lower the rate,“ Bloomberg reports.

“Straight after last Wednesday’s call with Trump, Vietnam’s party chief To Lam told his negotiating team to keep working to bring the tariff rate down… The 20% figure came as a surprise as Vietnam believed it had secured a more favorable tariff range.”

New York Times: “But for Netanyahu, a truce also came with personal risk. As prime minister, he led a fragile coalition that depended on the support of far-right ministers who wanted to occupy Gaza, not withdraw from it. They sought a long war that would ultimately enable Israel to re-establish Jewish settlements in Gaza. If a cease-fire came too soon, these ministers might decide to collapse the ruling coalition. That would prompt early elections that polls showed Netanyahu would lose.”

“Out of office, Netanyahu was vulnerable. Since 2020, he had been standing trial for corruption; the charges, which he denied, mostly related to granting favors to businessmen in exchange for gifts and favorable media coverage. Shorn of power, Netanyahu would lose the ability to force out the attorney general who oversaw his prosecution — as indeed his government would later attempt to do.”

“President Trump’s threat for a 50% tariff on Brazilian imports expanded his use of punitive duties over matters that have nothing to do with trade, breaking with more than a half-century of global economic precedent,” the Wall Street Journal reports.

“Trump cited the trial of the president’s close political ally, former Brazilian President Jair Bolsonaro, as the rationale for new tariffs set to take effect Aug. 1 on imports from the largest economy in Latin America.”

“It is one of the latest—and perhaps most brazen—examples of Trump using tariffs as a cudgel for political priorities outside of trade.”

President Trump said he plans to make a “major statement” on Russia, as the U.S. prepares to send more American weapons to Ukraine via purchases from NATO allies, Bloomberg reports.

“President Donald Trump said Thursday he plans to impose blanket tariffs of 15% or 20% on most trade partners, dismissing concerns that further tariffs could negatively affect the stock market or drive inflation,” NBC News reports.

Said Trump: “We’re just going to say all of the remaining countries are going to pay, whether it’s 20% or 15%. We’ll work that out now.”

“Blanket tariffs are currently set at 10%.”

However, Bloomberg reports Trump will levy a 35% tariff on goods coming into the US from Canada.

“President Donald Trump for the first time since returning to office will send weapons to Kyiv under a presidential power frequently used by his predecessor, a move suggesting new interest by the president in defending Ukraine,” Reuters reports.

“State Department employees are bracing for mass layoffs as soon as Friday after the Supreme Court cleared the way for the Trump administration to proceed with reorganization and downsizing,” Semafor reports.

“The high court on Tuesday lifted a lower-court judge’s decision that had blocked the planned layoffs, which could number in the thousands.”

“Israel has concluded that some of Iran’s underground stockpile of near-bomb-grade enriched uranium survived American and Israeli attacks last month and may be accessible to Iranian nuclear engineers,” the New York Times reports.

“Donald Trump threatened to impose a 50% tariff on Brazil over its domestic political affairs, the most extreme case yet of the US president weaponizing trade policy to make unrelated demands,” Bloomberg reports.

“Trump’s latest threat, against a nation that sells fewer goods to the U.S. than it buys, risks reinforcing concerns that formal trade agreements may offer limited protection against future tariff hikes. It also again shows that the rates Trump unveiled in April on “Liberation Day” carry little meaning.”

“Trump has previously used tariff threats to accomplish other geopolitical goals. In January, he announced sweeping tariffs on Colombia before abruptly pulling the threat after reaching a deal on the return of deported migrants. He’s also put 20% tariffs on China for its alleged failure to stop the flow of fentanyl to the US, and threatened BRICS nations with higher duties for undermining the dollar.”

“Secretary of State Marco Rubio on Thursday expressed frustration with Russia over the lack of progress in peace talks on Ukraine, echoing President Trump’s increasing criticism of President Vladimir Putin over his escalation of the war,” the New York Times reports.

Said Rubio: “Look, the president’s been pretty clear. He’s disappointed and frustrated that there’s not been more flexibility on the Russian side to bring about an end to this conflict.”

JPMorgan Chase chief executive Jamie Dimon warned European leaders they have a competitiveness problem and that they are currently “losing” the battle to rival the U.S. and China, the Financial Times reports.

Said Dimon: “Europe has gone from 90 percent US GDP to 65 percent over 10 or 15 years. That’s not good. You’re losing.”