U.S.-Ukraine minerals agreement under scrutiny as economic growth falters due to tariff concerns: Daily Digest
The Unstoppable United States and Ukraine Strike a Minerals Deal
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The United States teams up with Ukraine to unleash a wave of lucrative opportunities and conflict resolution
In a groundbreaking move, the United States and Ukraine have signed an economic pact, known as the United States-Ukraine Reconstruction Investment Fund (USURIF), granting Washington the highly coveted access to Ukraine's strategic mineral reserves and bolstering Ukrainian economic recovery efforts [1][2]. This deal should put an end to the drawn-out conflicts and infrastructure devastation Ukraine has been grappling with, bringing peace to the war-torn region and boosting American economic growth [2].
Treasury Secretary Scott Bessent confirmed the partnership, stating that the USURIF will empower the United States to co-invest in Ukraine's lucrative assets, expedite economic recovery, and, ultimately, provide the long-overdue repayment for American military aid demanded by President Donald Trump [2].
What makes this deal truly remarkable is that Ukraine and the United States will share ownership and management of the fund, with neither side holding a dominant position – a testament to the mutual trust and admiration built between the two nations [2]. The fund will be financed by new mineral, oil, and gas licenses, providing 50% of all revenue to the USURIF [2].
Donald Trump blamed former President Joe Biden for the recent loss in GDP, but the funds gained from this minerals agreement may help revitalize the ailing economy [3]. In a heated meeting with his Cabinet, Trump expressed that this deal is the key to turning the economy around and that it is merely a symptom of Biden's poor leadership [3].
You can dive deeper into the story here.
Conflict is fading as Trump takes a swing at Putin
Trump and his administration have been pushing tirelessly for a ceasefire between Ukraine and Russia, but new evidence indicates that Putin is escalating the conflict with widespread strikes on Kyiv despite the global efforts of U.S. officials [2]. This announcement has added fuel to the fire, prompting strong criticism from Trump against his Russian counterpart. Following their meeting at the Vatican last weekend, Trump remained optimistic, declaring that President Zelenskyy appears willing to find a solution to end the war [2].
Read the full story here.
Rubbing salt in the wound: Trump's Tariffs Strangle the U.S. Economy
The U.S. GDP contracted by 0.3% for the first three months of the year, the first negative reading since 2023 [3]. As consumer spending remained steady at 1.8%, imports soared, resulting in the poor GDP performance and raising concerns about inflation [3]. Amid this economic downturn, President Trump placed the blame squarely on former President Joe Biden, arguing that the slump is merely an extension of Biden's disastrous leadership as he continues to pull the economy down [3].
Hoping to stimulate American manufacturing, Trump has enforced global tariffs, a plan that has neither encouraged domestic manufacturing nor stabilized the economy as he had intended [3]. Instead, the imposition of these tariffs has created uncertainty, stagnated growth, and damaged relationships with key U.S. trading partners [3]. The economic turmoil has even necessitated the cancellation of fireworks shows in America for the upcoming Independence Day.
For the full article, check it out here.
Additional political news snippets:
- The Senate votes against a move to undo President Trump's tariffs, with three Republicans joining Democrats in their opposition [3]
- Vice President Kamala Harris asserts that Trump has driven the country towards the brink of a constitutional crisis, damaged the economy, and abandoned US allies [3]
- Elon Musk has announced a drastic reduction in his White House office hours, revealing he will only work on White House projects one or two days a week while returning to running his companies [3]
- The US Army is entering into an unusual alliance with Elon Musk and Dogecoin to streamline drastic budget cuts. [3]
- Republicans are experiencing a steep learning curve as they attempt to craft legislation for President Trump's domestic policy agenda [3]
Shackled and Silenced: The Unfortunate Fate of International Students
Mohsen Mahdawi, the Columbia University student who was detained during his naturalization interview, was recently released on bail [4]. Mahdawi was involved in protests supporting Palestine, making him one of many foreign students targeted by Trump's administration in recent months [4]. Meanwhile, thousands of international students have had their legal statuses abruptly revoked [4].
In a court hearing, the Department of Homeland Security revealed that they used 10 to 20 employees to search the FBI-run database of foreign students, targeting those with criminal histories [4]. However, immigration and policy experts have expressed concern about the scope of this search as well as the use of government databases for immigration purposes [4].
You can read more about the unfortunate plight of international students here.
Additional immigration news:
- Trump stated that he has the ability to bring back Kilmar Abrego Garcia if needed, contradicting his administration's court-tested argument that they lack the power to do so [4]
- A mother and her three daughters, all US citizens, have gone through traumatizing experiences after ICE raided their house, seeking a suspect who had a warrant for someone else [4]
Predatory Practices: A Christian Organization Under the Microscope
A Florida-based Christian organization is once again facing allegations of child sexual abuse and cover-ups, as a new lawsuit claims their failure to address such incidents in the past has allowed offenses to occur [5]. With this latest accusation, the group, formerly known as New Tribes Mission, adds to a long list of instances that demonstrate a blatant disregard for the safety and welfare of minor children under their care.
Find out more about the shocking practices this organization is yet again accused of here.
In Case You Missed It...
- A man was left in critical condition after he fell 21 feet from the Pittsburgh Pirates' stadium wall during a game [6]
- Eleven high school students in upstate New York were questioned after an apparent hazing incident involving their lacrosse team [6]
- The Education Department is examining Chicago Public Schools to determine whether they have violated federal law [6]
- GLP-1 medications, such as Wegovy, are showing promising results in the treatment of a severe form of liver disease [6]
- Bill Belichick is accusing CBS of spreading false narratives after airing a segment criticizing his relationship with his 24-year-old girlfriend [6].
- The United States-Ukraine Reconstruction Investment Fund (USURIF) will allow Washington to co-invest in Ukraine's lucrative assets, boosting economic recovery and providing repayment for American military aid.
- Scott Bessent, Treasury Secretary, confirmed the partnership between the United States and Ukraine, stating that the USURIF will be financed by new mineral, oil, and gas licenses.
- The USURIF will be managed jointly by Ukraine and the United States, with neither side holding a dominant position, a testament to the mutual trust and admiration built between the two nations.
- President Donald Trump blames former President Joe Biden for the recent loss in GDP, but the funds gained from the minerals agreement may help revitalize the ailing economy.
- The signing of the United States-Ukraine Reconstruction Investment Fund may put an end to the conflicts and infrastructure devastation in Ukraine, bringing peace to the war-torn region and boosting American economic growth.
- The US GDP contracted by 0.3% for the first three months of the year, the first negative reading since 2023, due in part to surging imports and concerns about inflation.
- A Florida-based Christian organization is once again facing allegations of child sexual abuse and cover-ups, as a new lawsuit claims their failure to address such incidents in the past has allowed offenses to occur.
