As the week comes to a close, let’s take a look at the top stories that made headlines over the past few days.
Xi Jinping Faces ‘Unprecedented’ Turmoil
Chinese President Xi Jinping is facing an extraordinary challenge within the Chinese Communist Party, as U.S.-China trade tensions continue to rise. This situation could lead to a significant leadership change in the party.
Political scientist Gordon Chang described the situation as “unprecedented,” citing the removal of nine senior military officers, including Xi’s top loyalist, General He Weidong. Chang suggested that Xi himself could be removed or emerge stronger amidst this turmoil.
Trump Scraps Trade Talks With Canada
Despite the collapse of trade discussions with Canada, “Shark Tank” star and investor Kevin O’Leary believes Americans should focus on long-term economic opportunities in Canada. This comes after President Donald Trump terminated all ongoing trade talks with Canada following an advertisement from Ontario criticizing U.S. tariffs.
O’Leary dismissed the trade talks’ collapse as mere noise and urged Americans to consider Canada as their best bet for long-term economic prospects.
Trump Hints At Tariff Cash Giveaway
President Donald Trump hinted at the possibility of Americans receiving direct cash payments funded by the soaring tariff revenues. This suggests a potential shift in his hardline trade strategy towards an economic stimulus tool ahead of the 2026 midterms.
The U.S. Treasury saw a remarkable $267.7 billion in tariff revenues during the second quarter of 2025, a 188.7% increase from the second quarter of 2024. When combined with the first quarter’s $96.97 billion, the total 2025 tariff revenues have already surpassed $360 billion as of June.
Trump's Tariff Threat Turns China's Rare-Earth Play Risky
China’s recent move to tighten its grip on rare-earth exports could backfire, warn analysts. The country’s near-total dominance in the sector, accounting for 92% of global refining and 98% of magnet manufacturing, is now under threat due to its expanded export controls on rare earths and magnet-related materials.
This high-stakes economic play could provoke harsher U.S. tariff retaliation and accelerate diversification efforts.
Bernie Sanders: ‘Elon Musk Became $186 Billion Richer’ Under Trump
Senator Bernie Sanders criticized the widening wealth gap amid the surge in the net worth of billionaires during President Donald Trump’s second term in office. Sanders pointed to the staggering gains among some of the richest and most high-profile billionaires in the country, including Elon Musk, Mark Zuckerberg, and Jeff Bezos.
This surge in wealth has raised concerns about the growing wealth inequality in the U.S.
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