President Donald Trump hosted Crown Prince Mohammed bin Salman to the White House on Tuesday, with the Saudi de facto ruler seeking to further rehabilitate his global image after the 2018 killing of U.S.-based journalist Jamal Khashoggi and deepen ties with Washington.

Making his first White House visit in more than seven years, the crown prince was greeted with a lavish display of pomp and ceremony presided over by Trump on the South Lawn, complete with a military honor guard, a cannon salute and a flyover by U.S. warplanes.

Talks between the two leaders are expected to advance security ties, civil nuclear cooperation and multibillion-dollar business deals with the kingdom. But there will likely be no major breakthrough on Saudi Arabia normalizing ties with Israel, despite pressure from Trump for such a landmark move.

The meeting underscores a key relationship — between the world’s biggest economy and the top oil exporter — that Trump has made a high priority in his second term as the international uproar around the killing of Khashoggi, a Saudi insider-turned-critic, has gradually faded.

U.S. intelligence concluded that bin Salman approved the capture or killing of Khashoggi at the Saudi consulate in Istanbul. The crown prince denied ordering the operation but acknowledged responsibility as the kingdom’s de facto ruler.

The warm welcome for bin Salman in Washington is the latest sign that relations have recovered from the deep strain caused by Khashoggi’s murder.

Trump greeted bin Salman with a smile and a handshake on the red carpet, while dozens of military personnel lined the perimeter. The limousine was escorted up the South Drive by a U.S. Army mounted honor guard. The two leaders then looked skyward as fighter jets roared overhead, before Trump led his guest inside.

Before sitting down for talks, the two leaders chatted amiably as Trump gave bin Salman a tour of presidential portraits lining the wall outside the Oval Office.

During a day of White House diplomacy, bin Salman will hold talks with Trump in the Oval Office, have lunch in the Cabinet Room and attend a formal black-tie dinner in the evening, giving it many of the trappings of a state visit. U.S. and Saudi flags festooned lamp posts in front of the White House.

Trump expects to build on a $600 billion Saudi investment pledge made during his visit to the kingdom in May, which will include the announcement of dozens of targeted projects, a senior U.S. administration official said.

The U.S. and Saudi Arabia were ready to strike deals on Tuesday for defense sales, enhanced cooperation on civil nuclear energy and a multibillion-dollar investment in U.S. artificial intelligence infrastructure, the official said on condition of anonymity.

Trump told reporters on Monday, “We’ll be selling” F-35s to Saudi, which has requested to buy 48 of the advanced aircraft.

This would be the first U.S. sale of the fighter jets to Saudi Arabia and mark a significant policy shift. The deal could alter the military balance in the Middle East and test Washington’s definition of maintaining what the U.S. has termed Israel’s “qualitative military edge.” Until now, Israel has been the only country in the Middle East to have the F-35.

Beyond military equipment, the Saudi leader is seeking new security guarantees. Most experts expect Trump to issue an executive order creating the kind of defense pact he recently gave to Qatar but still short of the congressionally ratified NATO-style treaty the Saudis initially sought.

EYE ON CHINA

Former U.S. negotiator in the Middle East Dennis Ross, who is now at the Washington Institute for Near East Policy think tank, said Trump wants to develop a multifaceted relationship that keeps Saudi Arabia out of China’s sphere.

“President Trump believes all these steps bind the Saudis increasingly to us on a range of issues, ranging from security to the finance-AI-energy nexus. He wants them bound to us on these issues and not China,” Ross said.

Trump is expected to keep up pressure on bin Salman for Saudi Arabia to join the Abraham Accords and normalize relations with Israel.

The Saudis have been reluctant to take such a major step without a clear path to Palestinian statehood, a goal that has been forced to the backburner as the region grapples with the Gaza war.

Trump reached Abraham Accords agreements between Israel and Bahrain, the United Arab Emirates, Morocco and Sudan during his first term in 2020. In recent weeks, Kazakhstan agreed to join.

But Trump has always seen Saudi Arabia joining the Abraham Accords as the linchpin to achieving a wider Middle East peace.

“It’s very important to him that they join the Abraham Accords during his term and so he has been hyping up the pressure on that,” the senior White House official said.

Jonathan Panikoff, former deputy national intelligence officer on the Middle East, said that while Trump will urge bin Salman to move toward normalizing ties with Israel, any lack of progress there is unlikely to hinder reaching a new U.S.-Saudi security pact.

“President Trump’s desire for investment into the U.S., which the crown prince previously promised, could help soften the ground for expanding defense ties even as the president is determined to advance Israeli-Saudi normalization,” said Panikoff, now at the Atlantic Council think tank in Washington.

Source: Reuters

– Agencies

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Bitcoin and Ethereum’s latest surge has not only shaken up investors but also drawn a reaction from Eric Trump, who used the moment to warn traders against taking bearish positions. Over the past 24 hours, Bitcoin climbed back above the $120,000 level, while Ethereum reached a 24-hour high of $4,330, its highest price level since 2021. The rally delivered a punishing blow to short sellers, particularly in Ethereum, where liquidations ran into hundreds of millions of dollars. 

Stop Betting Against Bitcoin And Ethereum

The price action of Bitcoin and Ethereum in the past 24 hours was an opportunity for Eric Trump to reinforce the growing bullish sentiment surrounding the two largest cryptocurrencies. Notably, this is something the Trump family has been actively involved in throughout this cycle.

Taking to the social media platform X, Eric Trump noted, “It puts a smile on my face to see ETH shorts get smoked today. Stop betting against BTC and ETH – you will be run over.” In just a few words, he made it clear that he views bearish positioning against the top two cryptocurrencies as a dangerous gamble based on recent price action.

His comment came amid Ethereum’s powerful rally that saw over $212 million in short positions wiped out among traders caught on the wrong side of the move, according to liquidation data from Coinglass. Bitcoin’s breakout above resistance at $120,000 added further pressure to bears, and it showed that the momentum is now in the hands of the bulls.

By highlighting these moves with Bitcoin and Ethereum, Eric Trump not only celebrated the downfall of short sellers but also warned that the upward trend still had plenty of momentum left to play out. 

Trump Family Expanding Crypto Footprint

Eric Trump’s vocal support for Bitcoin and Ethereum reflects a larger pattern within the Trump family, which has embraced digital assets more than ever in this market cycle.  Their ventures include launching the $TRUMP and $Melania memecoins, establishing World Liberty Financial with its USD1 stablecoin and $WLFI token, and securing multi-million-dollar investments to scale their crypto operations. 

Interestingly, reports have noted that World Liberty Financial is now approaching large tech and crypto investors to raise $1.5 billion in a move to set up a public company that will hold its WLFI tokens. 

They have also moved into crypto mining through a venture called American Bitcoin and partnered with Hut 8 to build what they aim to be a strategic Bitcoin reserve. According to a Bloomberg report, Eric Trump’s stake in American Bitcoin could be worth $367 million when it goes public in coming weeks.

On the regulatory front, President Trump recently signed an executive order permitting cryptocurrencies in 401(k) retirement plans, a move that has the potential of boosting mainstream adoption very significantly.

At the time of writing, Bitcoin is trading at $121,670, while Ethereum is trading at $4,280.

Featured image from Pixabay, chart from Tradingview.com

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US President Donald Trump has said there will be no trade negotiations with India until a dispute over tariffs is resolved, following his administration’s decision to double tariffs on Indian imports.

When pressed by ANI at the Oval Office, whether he expected talks to resume in light of the new 50% tariff.

“No, not until we get it resolved,” he replied.

The White House on Wednesday issued an Executive Order imposing an additional 25 percentage points in tariffs on Indian goods, raising the total levy to 50%. The administration cited national security and foreign policy concerns, pointing specifically to India’s ongoing imports of Russian oil.

The order claims that these imports, whether direct or via intermediaries, present an “unusual and extraordinary threat” to the United States and justify emergency economic measures.

According to US officials, the initial 25% tariff came into effect on 7 August. The additional levy will take effect in 21 days and apply to all Indian goods entering US ports — with exceptions for items already in transit and certain exempt categories.

The order also provides flexibility for the president to modify the measures, depending on changing geopolitical circumstances or retaliatory actions by India or other nations.

India’s Prime Minister Narendra Modi responded defiantly during a speech at the MS Swaminathan Centenary International Conference in New Delhi, signalling that New Delhi would not back down in the face of economic pressure.

“For us, the interest of our farmers is our top priority,” PM Modi said. “India will never compromise on the interests of farmers, fishermen and dairy farmers. I know we will have to pay a heavy price for it, and I am ready for it. India is ready for it.”

India has consistently pushed back against opening sensitive sectors such as agriculture and dairy to international competition, citing the potential impact on millions of rural livelihoods.

The standoff marks a sharp escalation in trade tensions between the two countries, as both sides dig in over economic policy and matters of national interest.

Source: NDTV

– Agencies 

U.S. President Donald Trump said on Thursday the United States would impose a 35% tariff on imports from Canada next month and planned to impose blanket tariffs of 15% or 20% on most other trading partners.

In a letter released on his social media platform, Trump told Canadian Prime Minister Mark Carney the new rate would go into effect on August 1 and would go up if Canada retaliated.

The 35% tariff is an increase from the current 25% rate that Trump had assigned to Canada and is a blow to Carney, who was seeking to agree a trade pact with Washington.

An exclusion for goods covered by the United States-Mexico-Canada Agreement (USMCA) on trade was expected to stay in place, and 10% tariffs on energy and fertilizer were also not set to change, though Trump had not made a final decision on those issues, an administration official said.

Trump complained in his letter about what he referred to as the flow of fentanyl from Canada as well as the country’s tariff- and non-tariff trade barriers that hurt U.S. dairy farmers and others. He said the trade deficit was a threat to the U.S. economy and national security.

Canadian officials say a miniscule amount of fentanyl originates from Canada but they have taken measures to strengthen the border.

“If Canada works with me to stop the flow of Fentanyl, we will, perhaps, consider an adjustment to this letter,” Trump wrote.

Carney’s office did not immediately respond to a request for comment. The prime minister said last month that he and Trump had agreed to wrap up a new economic and security deal within 30 days.

Trump has broadened his trade war in recent days, setting new tariffs on a number of countries, including allies Japan and South Korea, along with a 50% tariff on copper.

In an interview with NBC News published on Thursday, Trump said other trading partners that had not yet received such letters would likely face blanket tariffs.

“Not everybody has to get a letter. You know that. We’re just setting our tariffs,” Trump said in the interview.

“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,” Trump was quoted as saying by the network.

Canada is the second-largest U.S. trading partner after Mexico, and the largest buyer of U.S. exports. It bought $349.4 billion of U.S. goods last year and exported $412.7 billion to the U.S., according to U.S. Census Bureau data.

Carney, who led his Liberal Party to a comeback election victory earlier this year with a pledge to tackle trade challenges with the U.S., had been aiming to negotiate a trade deal with its key trading partner by July 21.

Trump, in his letter, did not specifically address how trade negotiations were proceeding, but he said the “tariffs may be modified, upward or downward, depending on our relationship with your Country.”

Last month, the Carney government scrapped a planned digital services tax targeting U.S. technology firms after Trump abruptly called off trade talks saying the tax was a “blatant attack.”

Source: Reuters

– Agencies