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3 hours ago
Jack Montgomery
NatSec
World

Panamanians Pushed Out of Canal Work by Foreigners Back U.S. Return.

PULSE POINTS:

❓What Happened: President Donald J. Trump’s pledge to “take back” the Panama Canal from Chinese influence has won support from frustrated Panamanian workers, who say foreigners are favored over locals for canal jobs.

👥 Who’s Involved: President Donald J. Trump, Secretary of State Marco Rubio, Defense Secretary Pete Hegseth, Panama’s President José Raúl Mulino, and local workers like Marvin Moreno.

📍 Where & When: Panama Canal, with Trump’s campaign intensifying since his inauguration in January.

💬 Key Quote: “Right now [Trump] is the best option because the president we have is putting Panamanians practically against a wall,” said Panamanian welder Marvin Moreno.

⚠️ Impact: Trump’s pressure has secured U.S. military access to the canal and pushed Panama to ditch China’s Belt and Road, strengthening America’s grip on a vital trade route despite opposition from some local elites.

IN FULL:

President Donald J. Trump’s mission to reclaim influence over the Panama Canal is resonating with a growing cohort of Panamanian workers frustrated by their government’s mismanagement and perceived foreign favoritism. Construction workers see the return of U.S. influence as a path to restore local jobs and curb Chinese encroachment.

“May Trump come, take the canal in his pocket, and remove all those people from its administration. They are thieves,” one unemployed worker told The Telegraph, echoing the sentiment among laborers who claim Panama’s President José Raúl Mulino prioritizes foreign workers, particularly from a Chinese consortium building the canal’s $1.4 billion fourth bridge. Marvin Moreno, a 42-year-old welder, put it bluntly: “Right now [Trump] is the best option because the president we have is putting Panamanians practically against a wall. He is practically acting as a dictator.”

Trump has made the 51-mile waterway, which handles 40 percent of U.S. container traffic, a cornerstone of his foreign policy agenda, slamming the late Democratic President Jimmy Carter for “foolishly” ceding it to Panama. He accuses China of controlling the canal through CK Hutchison Holdings, a Hong Kong-based firm managing two adjacent ports, despite Panama’s denials.

Trump’s administration has successfully pressured the company to sell to a U.S. consortium and secured Panama’s exit from China’s Belt and Road Initiative after Secretary of State Marco Rubio’s February 2025 visit. He has also secured a Memorandum of Understanding (MOU) in April, granting U.S. military vessels free passage and allowing U.S. troops to train on Panamanian soil.

“We will take back the Panama Canal from China’s influence,” Defense Secretary Pete Hegseth declared in a press conference at the canal. Trump doubled down on Truth Social, demanding free passage for U.S. military and commercial ships through both the Panama and Suez canals, arguing they “would not exist” without America.

While some Panamanians, like opposition leader Ricardo Lombana, call the MOU a “camouflaged invasion” and challenge its legality, workers like Moreno see Trump as defending Panama’s sovereignty against their government’s failures.

Editor’s Notes

Behind-the-scenes political intrigue exclusively for Pulse+ subscribers.

RAHEEM J. KASSAM Editor-in-Chief
So here’s a little nugget for you, which I have tried to run up the DOD flagpole in recent months: what is the great Panamanian pasttime? It’s not soccer
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So here’s a little nugget for you, which I have tried to run up the DOD flagpole in recent months: what is the great Panamanian pasttime? It’s not soccer show more
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By Popular Demand.
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28 minutes ago
Immigration
UK

Far-Left PM Says Mass Migration Turning UK Into ‘Island of Strangers,’ But Farage Warns His Concern Is Insincere.

PULSE POINTS:

❓What Happened: Sir Keir Starmer announced plans to reform immigration rules, including extending the time required for migrants to apply for settlement in the United Kingdom.

👥 Who’s Involved: Reform Party leader Nigel Farage, Prime Minister Sir Keir Starmer, and migrants impacted by the proposed policies.

📍 Where & When: Announcement made in Britain, details discussed during an appearance on GB News on May 12.

💬 Key Quote: Farage: “Keir Starmer has spent his whole career campaigning for free movement of people… he’s just basically playing catch up with Reform.”

⚠️ Impact: Proposed changes aim to address public concerns over immigration but face criticism for perceived insincerity and potential loopholes.

IN FULL:

Nigel Farage has accused Sir Keir Starmer of insincerity following the Prime Minister’s announcement of new immigration reforms aimed at addressing Britain’s “broken” borders. Speaking on GB News, the Reform Party leader, who is leading Starmer’s Labour in the polls, argued that the government’s proposals are an attempt to “play catch up” on an issue that has long been a priority for his own party.

Starmer’s proposed White Paper includes a significant shift in immigration policy, requiring migrants to reside in Britain for ten years instead of five before applying for settlement or citizenship. Exceptions would be made for those demonstrating a “real and lasting contribution” to the nation’s economy and society.

Farage, however, was quick to point out inconsistencies in Starmer’s approach, stating, “Keir Starmer has spent his whole career campaigning for free movement of people… he’s just basically playing catch up with Reform.” He also noted that Starmer’s repeated use of the phrase “taking back control” during the announcement mirrors a Brexit campaign slogan from 2016, which Farage used as early as 2004.

Starmer claims the “One Nation experiment” in “open borders” is “over,” referring to the liberal “One Nation” wing of the Conservative Party to which former Prime Minister Boris Johnson belonged. Since replacing Labour in government in 2010, Conservative prime ministers David Cameron, Theresa May, Boris Johnson, Liz Truss, and Rishi Sunak all promised to reduce immigration “from the hundreds of thousands to the tens of thousands,” or at least an “overall” reduction—but the party left office having more than quadrupled it.

The Conservatives’ immigration numbers were so enormous that Labour, which instituted the modern era of mass migration under Tony Blair in the late 1990s, now feels able to position itself to the right on the issue. Starmer has gone so far as to say it is turning Britain into “an island of strangers“—angering some in his own party.

“If he was to succeed with all of this, I’d praise him to the heavens, but he’s not,” Farage said of Starmer’s promises, likening them to former Johnson and Sunak’s “stop the boats” promise on illegal immigration, which only increased under their tenure.

Labour is unlikely to be able to steal a march from Farage on immigration regardless, given Labour’s long history of promoting multiculturalism and diversity, equity, and inclusion (DEI) style ideology, with Starmer personally presiding over the draconian crackdown on anti-immigration protestors following the mass murder of a number of young girls in Southport, England, by the son of two African asylum seekers in July 2024.

WATCH:

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By Popular Demand.
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1 hour ago
Corruption
Immigration

Homeland Security Subpoenas California Over Benefits Going to Illegal Immigrants.

PULSE POINTS:

❓What Happened: The Department of Homeland Security (DHS) issued subpoenas to California state government officials, seeking records related to alleged misuse of federal funds to benefit illegal immigrants through the Cash Assistance Program for Immigrants (CAPI).

👥 Who’s Involved: DHS, U.S. Immigration and Customs Enforcement’s (ICE) Homeland Security Investigations (HSI) office in Los Angeles, California, Governor Gavin Newsom’s (D-CA) administration, and the Economic Policy Innovation Center (EPIC).

📍 Where & When: Subpoenas were issued in Los Angeles, California, on Monday, with records sought dating back to 2021.

💬 Key Quote: Homeland Security Secretary Kristi Noem stated, “Radical left politicians in California prioritize illegal aliens over our own citizens, including by giving illegal aliens access to cash benefits. If you are an illegal immigrant, you should leave now. The gravy train is over.”

⚠️ Impact: The investigation could expose alleged misuse of billions in federal taxpayer dollars and could lead to further scrutiny of California’s financial practices and immigration policies.

IN FULL:

The Department of Homeland Security (DHS) has issued subpoenas to California state government officials over allegations of federal funds being improperly allocated to illegal immigrants through the state’s Cash Assistance Program for Immigrants (CAPI). The subpoenas, filed by U.S. Immigration and Customs Enforcement’s (ICE) Homeland Security Investigations (HSI) office in Los Angeles, demand records dating back to 2021, including applicants’ names, birth dates, immigration status, and other program-related documents.

California’s CAPI program provides monthly cash benefits to aged, blind, and disabled non-citizens who are ineligible for federal Supplemental Security Income. However, the White House believes that the program has been extended to illegal immigrants who are barred from accessing federal social security benefits.

Homeland Security Secretary Kristi Noem blasted California’s state leadership, accusing them of prioritizing illegal immigrants over American citizens. “Radical left politicians in California prioritize illegal aliens over our own citizens, including by giving illegal aliens access to cash benefits,” she said in a statement. “If you are an illegal immigrant, you should leave now. The gravy train is over.”

The investigation follows a report from the Economic Policy Innovation Center (EPIC), which revealed that California may be using federal reimbursements to fund state programs benefiting illegal immigrants. EPIC alleged that nearly $4 billion in federal taxpayer dollars are being funneled to healthcare and other initiatives for illegal immigrants through Medicaid provider taxes. The report describes the process as a “money laundering scheme,” with California projected to receive over $19 billion in federal funds from April 2023 to December 2026 without contributing state funds.

Governor Gavin Newsom (D-CA) has yet to publicly respond to DHS’s allegations. However, a spokesman for California’s Department of Healthcare Services claims EPIC’s allegations are “misleading.”

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By Popular Demand.
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2 hours ago
William Upton
Politics

AOC Eyes Schumer Ouster, 2028 Presidential Bid.

PULSE POINTS:

❓What Happened: Representative Alexandria Ocasio-Cortez (D-NY) is using a series of cross-country rallies with Senator Bernie Sanders (I-VT) to consolidate support among progressive Democrats ahead of a potential primary challenge against Senate Minority Leader Chuck Schumer (D-NY), or even a possible 2028 presidential run. The New York Congresswoman raised nearly $10 million in campaign cash during the first quarter of 2025.

👥 Who’s Involved: Rep. Alexandria Ocasio-Cortez, Sen. Bernie Sanders, Sen. Chuck Schumer, President Donald J. Trump, Democratic voters.

📍 Where & When: Ocasio-Cortez and Sanders kicked off their Fighting Oligarchy Tour in February with recent rallies in Colorado, California, and Arizona.

💬 Key Quote: “We need a Democratic Party that fights harder for us,” Rep. Ocasio-Cortez argued at a recent rally in Tempe, Arizona. “I want you to look at every level of office around and support Democrats who fight, because those are the ones who can actually win against Republicans.”

⚠️ Impact: The Fighting Oligarchy Tour has positioned Ocasio-Cortez, a radical progressive, as a leading anti-Trump voice in the Democratic Party, fueling speculation she may soon launch a primary challenge to Sen. Schumer or launch a 2028 presidential bid.

IN FULL:

Disaffected Democrats and political progressives are rallying around the far-left populist message espoused by Representative Alexandria Ocasio-Cortez (D-NY), fueling increasing speculation that the 35-year-old New York Democrat may mount a primary challenge to 74-year-old Senate Minority Leader Chuck Schumer (D-NY) or even launch a 2028 presidential bid. Since late February, Ocasio-Cortez—often referred to as AOC—has been holding large rallies across the country with Senator Bernie Sanders (I-VT) as part of the Fighting Oligarchy Tour, resulting in the progressive Congresswoman raising nearly $10 million in the first quarter of 2025.

In March, a Fighting Oligarchy Tour rally in Denver, Colorado, featuring AOC and Sanders, drew a reported 34,000 attendees—eclipsing the crowds drawn during Sen. Sanders’s previous two presidential campaigns and dwarfing all other Democratic Party events that month. Subsequently, an April rally in Los Angeles, California, drew an estimated 36,000 people. The rallies often feature calls for Rep. Ocasio-Cortez to primary Sen. Chuck Schumer. AOC and progressive Democrats contend he was too quick to cave to President Trump and Congressional Republicans on a government funding bill.

“We need a Democratic Party that fights harder for us,” Rep. Ocasio-Cortez argued at a recent rally in Tempe, Arizona. “I want you to look at every level of office around and support Democrats who fight, because those are the ones who can actually win against Republicans.”

While AOC’s cross-country tour and rallies with Sanders have energized the Democratic Party’s far-left progressive faction, more moderate party leaders worry that the New York Congresswoman’s radical message will alienate independent voters. However, absent any other standard bearers stepping forward and gaining traction, Ocasio-Cortez, with the backing of Sanders, appears to be quickly consolidating her position as one of the Democratic Party’s most vocal anti-Trump leaders.

Despite not having ruled out a potential 2028 bid for the Democratic Party’s presidential nomination, AOC is believed to be best positioned to challenge Schumer for his Senate seat. Several House Democrats have encouraged their progressive colleague to mount a primary campaign, with Rep. Debbie Dingell (D-MI) stating, “I’ve already said it: Senate looks good.”

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By Popular Demand.
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3 hours ago
Jack Montgomery
NatSec
World

Trump Turns to Expert Finns to Build Fleet of Icebreakers, Dominate Arctic from Greenland.

PULSE POINTS:

❓What Happened: President Donald J. Trump’s plan to acquire Greenland and dominate Arctic commerce hinges on building a new U.S. icebreaker fleet. Finland’s unmatched expertise in designing and constructing these ships is poised to play a pivotal role in achieving this ambition.

👥 Who’s Involved: President Trump, Finnish President Alexander Stubb, Aker Arctic CEO Mika Hovilainen, and Helsinki Shipyard’s new Canadian owner, Davie Shipbuilding.

📍 Where & When: Finland and the U.S., with Trump’s icebreaker push gaining traction in May 2025.

💬 Key Quote: “What does Finland have to offer the United States? Number one is icebreakers,” Finnish President Alexander Stubb said.

⚠️ Impact: Finland’s icebreaker prowess could fast-track Trump’s Arctic strategy, strengthening U.S. presence in a contested region.

IN FULL:

President Donald J. Trump’s bold vision to secure Greenland and unlock the Arctic’s commercial and strategic potential is taking shape, with Finland’s world-leading icebreaker industry ready to answer the call. Having built or designed 80 percent of the world’s icebreakers, the European Union (EU) country offers unmatched expertise to help the U.S. construct a new fleet.

“Ice is our playground,” said Mika Hovilainen, CEO of Aker Arctic, a Finnish firm designing ships for Canada, Sweden, and now eyeing American contracts. “We want to be involved in every Western icebreaker,” Hovilainen added, noting his role in designing 10 ships, including one that operates sideways.

Trump, after meeting Finnish President Alexander Stubb, posted on Truth Social about boosting U.S.-Finnish ties, “and that includes the purchase and development of a large number of badly needed Icebreakers for the U.S.” Stubb echoed the sentiment, stating, “What does Finland have to offer the United States? Number one is icebreakers. We build them faster than anyone in the world and at about half the price.”

Finland’s edge stems from necessity—its Baltic Sea trade relies on ice-free routes—and a century of building over 120 icebreakers. Unlike the U.S., where expertise fades between rare projects, Finland’s shipyards and suppliers maintain continuous innovation.

With only a handful of aging vessels, the U.S. has lagged in icebreaker development. The Joe Biden-era ICE Pact with Canada and Finland, reaffirmed in March 2025, aims to share expertise, but Trump’s Greenland push demands more urgency. Icebreakers, built to smash ice over 10 feet thick, require specialized hulls, broad bows, and robust systems to withstand extreme cold.

Trump’s Arctic strategy, tied to Greenland’s vast natural resources and strategic location, positions the U.S. to counter Russia and China in a contested region.

Image by Marcusroos.

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By Popular Demand.
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4 hours ago
Christopher Tomlinson
Religion
UK

Young Brits Flock to Catholic Church – DATA.

PULSE POINTS:

❓What Happened: England is becoming Catholic once more as young people increasingly turn to the Roman Catholic faith over protestant Anglicanism.

👥 Who’s Involved: Roman Catholic Church, Church of England, young people in Britain.

📍 Where & When: A survey of young practising Christians in England and Wales was released on May 8.

💬 Key Quote: “Ten years ago, numbers might have been half that.” – Catholic priest Father Kensy Joseph on attendance at a London church youth program.

⚠️ Impact: If the trend continues, practising English Catholics will outnumber Anglicans for the first time since the Protestant Reformation.

IN FULL:

An increasing number of young people in England and Wales are joining or practicing the Roman Catholic faith, with the number of practicing Catholics now exceeding the number of practicing Anglicans. A poll from YouGov reveals that young men, particularly, are flocking to the Christian faith.

The poll, commissioned by the Bible Society, shows a 56 percent rise in those attending church at least once a month. Among those aged 18 to 24, regular church attendance jumped from just four percent in 2018 to 16 percent in 2024.

The Church of England, the state religion of England, headed by King Charles III, is not where young people are going. Many are attending Roman Catholic churches to the extent that practising Catholics now outnumber Anglicans among those aged 18 to 54.

If the trend continues, practising Catholics could be a more significant bloc than Anglicans for the first time since England’s Protestant Reformation, sparked by King Henry VIII in the 1500s.

“Ten years ago, numbers might have been half that,” said Catholic priest Father Kensy Joseph, speaking of the attendance at the Farm Street church in London, which normally attracts as many as 180 people for its young adult program.

The interest in Catholicism in England comes amid a surge of adult baptisms in France this year. The country saw a record 10,384 adult baptisms at Easter last month.

Young Catholics are also increasingly interested in the traditional Latin Rite, also known as the Traditional Latin Mass (TLM), in many parts of the world. A 2023 French survey found 40 percent of young French Catholics like the TLM, while the traditionalist pilgrimage from Paris to Chartres last year saw a record 18,000 attendees.

The rise in popularity of Catholicism in some parts of Western Europe comes amid the election of Pope Leo XIV, who some are optimistic may unify the liberal and traditional wings of the Church.

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By Popular Demand.
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4 hours ago
William Upton
Health
Politics

President Trump Signs ‘Most Favored Nation’ EO, Slashing Prescription Drug Costs.

PULSE POINTS:

❓What Happened: President Donald J. Trump signed an Executive Order implementing a “most favored nation” prescription drug pricing policy that could cut pharmaceutical costs by anywhere between 30 and 80 percent for Americans.

👥 Who’s Involved: President Trump, Medicare, foreign nations, the pharmaceutical industry.

📍 Where & When: The order was signed on Monday, May 12, 2025, at the White House.

💬 Key Quote: “We are going to pay the lowest price there is in the world. Whoever is paying the lowest price, that is the price we’re going to get—so we’re no longer paying ten times more than another country,” President Trump said after signing the Executive Order.

⚠️ Impact: The new drug pricing plan aims to significantly lower the costs for prescription drugs purchased through Medicare, providing savings for both the U.S. government and Americans enrolled in the federal health insurance program.

IN FULL:

President Donald J. Trump has signed an Executive Order establishing a “most favored nation” policy that will tie Medicare payments for pharmaceuticals administered by a medical doctor to the lowest price paid by other countries. The directive aims to bring down the cost of prescription drugs in the United States and provide significant savings to the federal government through reduced Medicare costs. Notably, the Trump White House contends the policy could cut pharmaceutical costs by anywhere between 30 and 80 percent for Americans.

The “most favored nation” pricing policy has been a long-standing goal for President Trump. An attempt to implement the plan late in his first term was sidelined after a federal court blocked the directive. However, according to Trump, the newest iteration will not only be implemented through his Executive Order but will also be codified into law as part of the budget reconciliation bill taking form in Congress.

“We are going to pay the lowest price there is in the world. Whoever is paying the lowest price, that is the price we’re going to get—so we’re no longer paying ten times more than another country,” Trump said after signing the order in the Oval Office on Monday. He continued: “I’m doing this against the most powerful lobby in the world, probably—the drug lobby and pharmaceutical lobby—but it’s one of the most important orders, I think, that’s ever been signed.”

The America First leader added: “Big Pharma will either abide by this principle voluntarily, or we’ll use the power of the federal government to ensure that we are paying the same price as other countries.”


While the specifics of the Executive Order and legislative provisions are not entirely known as of the time of publication, a “most favored nation” pricing policy essentially means the United States government will only pay pharmaceutical companies for a drug covered under Medicare at the lowest rate paid by similar advanced nations. For instance, while a pharmaceutical company might charge the federal government $300 for a specific medication, if that same medication is sold to the German government for just $30, by law, the U.S. government will only pay $30 instead of the higher price.

It is expected that Trump’s Executive Order will face a number of legal challenges from the pharmaceutical industry.

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By Popular Demand.
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5 hours ago
Politics
The Resistance

DDT Network Emerges as Hub for Never Trump Operatives.

PULSE POINTS:

❓What Happened: Defending Democracy Together (DDT), a Never Trump advocacy group, has expanded into a network of left-leaning political action committees (PACs), policy nonprofits, and media properties, raising at least $151 million since 2018.

👥 Who’s Involved: Former Republicans Bill Kristol and Sarah Longwell, who lead the DDT Network.

📍 Where & When: Washington, D.C.; network activities and fundraising have been ongoing since 2018.

💬 Key Quote: The New York Times described Kristol as “someone who has probably picked over as many greenroom fruit plates as anyone in Washington.”

⚠️ Impact: The DDT Network resembles a political party infrastructure and has directed significant funds towards opposing President Donald J. Trump and supporting Democratic causes.

IN FULL:

Defending Democracy Together (DDT), a Never Trump advocacy group spearheaded by former Republicans Bill Kristol and Sarah Longwell, has evolved into a substantial network comprising left-leaning political action committees (PACs), policy nonprofits, and media entities. Since its inception in 2018, the network has successfully raised over $151 million, with its financial momentum showing no signs of slowing down. A recent report from the Capital Research Center (CRC) has revealed the Never Trump organization’s vast network of far-left funders and affiliations with a web of anti-Trump political groups.

Kristol, a veteran of Washington politics and staunch neoconservative, serves as the principal officer, while Longwell is the executive director of both Defending Democracy Together and the Defending Democracy Together Institute (DDTI). The duo also oversees the Republican Accountability PAC, a political action committee (PAC).

In 2020, the network’s efforts to defeat President Donald J. Trump were bolstered by a $10,050,000 grant from the Sixteen Thirty Fund, part of the far-left Arabella Advisors dark money network. The network’s financial transparency remains limited, with a significant portion of its backing sourced from anonymous contributions.

Prominent donors to the DDT Network include Democracy Fund Voice, backed by eBay founder Pierre Omidyar, and American Future Republic, connected to LinkedIn founder Reid Hoffman. These contributions have enabled the network to direct substantial resources towards opposing Trump and supporting Democratic candidates, with Hoffman contributing $9.5 million directly to the Republican Accountability PAC. Other significant donors to the PAC include Netflix co-founder Reed Hastings, who has given $6.9 million; John Pritzker, a San Francisco real estate mogul and member of the Pritzker family, who has contributed $3 million; and the leftist daughter-in-law of Rupert Murdoch, Kathryn Murdoch, who gave $2 million.

The DDT Network has also funneled funds into media ventures such as The Bulwark, a Never Trump website, and The Liberal Patriot, a platform that critiques the Democratic Party’s focus on “woke” culture and climate issues. Additionally, the network supports groups like George Conway‘s Society for the Rule of Law (SFL) and the Never Trump group Principles First.

Sarah Longwell’s consulting firm, Longwell Partners, has received over $21 million as a contractor for the DDT Network, suggesting the network also serves as a significant income conduit for its leaders.

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By Popular Demand.
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6 hours ago
Wake Up Right
Economy
News

US and China Reach Trade Truce.

The U.S. and China agreed to suspend most tariffs for 90 days following high-stakes weekend trade negotiations in Geneva, Switzerland over the weekend.

The details: The agreement will see both nations slash their tariffs from 125 percent to 10 percent during the three-month reprieve. A separate 20 percent tariff on China for its role in the fentanyl trade will remain in place.

  • Treasury Secretary Scott Bessent said Sunday the talks led to “substantial progress,” and U.S. Trade Rep. Jamieson Greer added that the differences were “not as large as maybe thought.”
  • China echoed the optimism, calling the pending joint statement “good news for the world.”

Markets react: U.S. stock futures surged, with the tech-heavy NASDAQ rising more than three percent. The dollar and bonds also jumped.

Trump reacts: President Trump struck an optimistic tone on Sunday, writing:

  • “A very good meeting today with China, in Switzerland. Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner. We want to see, for the good of both China and the U.S., an opening up of China to American business. GREAT PROGRESS MADE!!!”

What happens next? Talks will continue, led by Treasury Secretary Scott Bessent, Trade Representative Jamieson Greer, and Chinese Vice Premier He Lifeng.

These terms go into effect on Wednesday.

Peace is in the air: Over the weekend, President Trump also announced that India and Pakistan agreed to a “full and immediate ceasefire” following negotiations mediated by the United States.

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The U.S. and China agreed to suspend most tariffs for 90 days following high-stakes weekend trade negotiations in Geneva, Switzerland over the weekend. show more
By Popular Demand.
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6 hours ago
Christopher Tomlinson
War
World

Ukraine Accuses Hungary Over Alleged Spy Ring.

PULSE POINTS:

❓What Happened: Ukrainian intelligence has arrested two people they accuse of spying for Hungary and attempting to find out if ethnic Hungarians in the country would favor Hungarian military intervention.

👥 Who’s Involved: Hungary, Ukraine, the Security Service of Ukraine (SBU), two unnamed alleged spies, Hungarian Secretary of State for Public Diplomacy and Relations Zoltán Kovács.

📍 Where & When: Ukraine announced the arrests on May 9.

💬 Key Quote: “It is unprecedented in the country’s recent history that a domestic political actor would work in tandem with the intelligence services of a neighboring state.” — Zoltán Kovács.

⚠️ Impact: The allegations further inflame tensions between the two countries, which have been brewing since well before the start of Russia’s “special military operation” in Ukraine in 2022.

IN FULL:

The Ukrainian government has accused Hungary of spying on its territory and allegedly trying to determine if ethnic Hungarians in the country would support an invasion by the Hungarian army. The claims have been fiercely dismissed by Hungarian authorities, who have linked the allegations to one of their country’s main opposition parties.

Media in Ukraine reported on May 9 that the Security Service of Ukraine (SBU) had uncovered the alleged Hungarian spy ring operating in the Transcarpathia region, home to many ethnic Hungarians. Hungary lost the territory to Ukraine following the First World War and the signing of the Treaty of Trianon.

The SBU arrested two Ukrainian citizens, who they alleged were seeking to find out if the locals would support an invasion by the Hungarian military to reclaim the land. SBU spokesman Artem Dekhtaryenko claimed the pair also collected information on Ukrainian military units and installations and tracked local government officials.

Hungarian Secretary of State for Public Diplomacy and Relations Zoltán Kovács dismissed the accusations as “political theater” in a blog post on May 9. Instead, he linked the accusations to what he called a “growing coordination” between Ukrainian intelligence and Hungary’s main opposition party, Tisza.

“It is unprecedented in the country’s recent history that a domestic political actor would work in tandem with the intelligence services of a neighboring state. This partnership, aimed at discrediting Hungary’s national security structures, amounts to an attack on sovereignty from within,” he said.

In response to the accusations, Hungary has expelled two Ukrainian diplomats who claim they are spies. Kovács stated that Hungary’s refusal to arm Ukraine in its ongoing war with Russia made the country a target and said potential coordination between Tizsa and Ukrainian intelligence was “destabilizing.”

Hungary has clashed repeatedly with Ukraine since well before the full-scale war with Russia began in 2022. For instance, Hungary has accused Ukraine of forcing ethnic Hungarians to study only in Ukrainian at schools and generally repressing them, as well as cutting off Russian gas to Hungary proper. Ukraine, in turn, has been angered by Hungary refusing to allow weapons shipments to Ukraine via its territory and scrutinizing European Union (EU) aid.

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May 10, 2025
Economy

Arizona Establishes Strategic Bitcoin Reserve, Following President Trump’s Lead.

PULSE POINTS:

❓What Happened: Arizona has established a Strategic Bitcoin Reserve by enacting House Bill 2749.

👥 Who’s Involved: Governor Katie Hobbs (D), State Representative Jeff Weninger (R), Satoshi Action Fund, and cryptocurrency exchange Coinbase.

📍 Where & When: Arizona, with the bill signed into law on Thursday, May 8, 2025.

💬 Key Quote: “Arizona just showed the country how to turn forgotten assets into a fortress against inflation,” said Dennis Porter, CEO of the Satoshi Action Fund.

⚠️ Impact: The law aims to transform unclaimed state assets into appreciating digital stores of value, positioning Arizona as a leader in digital asset management.

IN FULL:

Arizona has taken a significant step into the digital financial realm by establishing a Strategic Bitcoin Reserve, becoming the second state in the U.S. to do so. Governor Katie Hobbs (D) signed House Bill 2749 into law on May 8, 2025, officially launching the Arizona Bitcoin & Digital Assets Reserve. This innovative legislation redirects profits from unclaimed property into Bitcoin and other leading digital assets.

The bill, championed by State Representative Jeff Weninger (R), introduces a strategic approach to managing idle state assets. It includes provisions for using interest and staking rewards from abandoned property to fund acquisitions, while ensuring strong diversification rules to prevent Bitcoin from dominating the state’s investment portfolio. The law mandates U.S.-regulated custody for these assets and outlines clear steps for implementation, allowing the state to begin purchasing digital assets.

Dennis Porter, CEO and Co-Founder of the Satoshi Action Fund, a key advocate for the bill, praised the move. “Arizona just showed the country how to turn forgotten assets into a fortress against inflation,” Porter stated. He emphasized that the law converts dormant dollars into “digital gold” without impacting taxpayers.

Cryptocurrency exchange Coinbase also played a crucial role by providing expert testimony, which helped legislators understand the financial and technological implications of Bitcoin-based reserves. This support was pivotal in overcoming legislative hurdles and securing bipartisan backing for the bill.

The law aligns Arizona with New Hampshire in utilizing idle state assets as potentially appreciating stores of value, aiming to safeguard the treasury without raising taxes or dipping into the general fund. Representative Weninger highlighted the legislation’s importance, stating, “Digital assets aren’t the future—they’re the present.” He underscored the law’s role in ensuring Arizona doesn’t leave value on the table and positions the state to lead in digital currency management.

The National Pulse reported in March that President Donald J. Trump laid out key details of his plan to establish a national Bitcoin reserve, issuing an Executive Order creating a federal government reserve of Bitcoin with the goal of retaining an estimated 200,000—mainly sourced through cryptocurrency assets already seized by federal agencies in criminal proceedings.

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