
Trump Truth Social: Trump Fires Both Barrels at Friends and Foes for ‘Ripping Off' the U.S. Army
Elevate Your Investing Strategy:
Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Grumpy Trumpy
In a tweet on Truth Social, the President, which according to our Trump Dashboard showed him in a grumpy Trumpy mood, took aim with the following soliloquy.
'The United States of America has been ripped off on TRADE (and MILITARY!), by friend and foe, alike, for DECADES. It has come at a cost of TRILLIONS OF DOLLARS, and it is just not sustainable any longer – And never was!
Countries should sit back and say, 'Thank you for the many year's long free ride, but we know you now have to do what's right for America.' We should respond by saying, 'Thank you for understanding the situation we are in. Greatly appreciated!'
Presumably, Trump is referring to the expenditure the U.S. has provided the NATO alliance over the years, as well as protecting other nations around the globe from attacks by communist, despotic or terrorist- friendly states.
Now, some guys and gals on the street would like to think that the U.S. had made these financial commitments in the name of democracy and freedom. The Band of Brothers standing together no matter the cost.
Trump Ain't No Rambo
Well, not in Trump's world who seems more rumbustious than Rambo, despite the comparisons.
U.S. defense stocks were lifted, however, with Northrop Grumman (NOC) edging up 1% and Lockheed Martin (LMT) up 0.5%.
These stocks will likely benefit from U.S. allies such as the U.K. spending more on defense because they produce most of the cutting-edge weapons needed in today's digital warfare.
Although, perhaps Trump should be careful with his war of words. U.S. Treasury data released late last week showed that Department of Defense spending across operations and maintenance (O&M), research and development (R&D), and procurement accounts was up 2% in the June quarter, a deceleration from 7% in the March quarter and 8% in the December quarter.
But rather than the old adage, a day is another day, Trump believes that an hour is another hour. There are hints that the U.S. is ready to spend big again on defending Ukraine. What will Trump's next shot and choice of words be?
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
18 minutes ago
- Yahoo
Voices: Why I've changed my mind about a state of Palestine
The tragic images of starvation emerging from Gaza have shocked and angered the world. Yet we've become dangerously desensitized to the daily toll of death and destruction, seemingly powerless to intervene. But when even President Trump is moved to acknowledge 'real starvation' in his press briefings, it signals a potential turning point. Israel's response to the barbaric attacks 21 long months ago is increasingly testing the international community. Every state has the right to defend itself – but also the responsibility to wield force judiciously. How retribution is carried out, how military power is applied, and how operations affect civilians in the invaded territories all matter deeply. It confirms our values and distinguishes us from those we must fight. The scale of continued suffering in Gaza cannot be justified solely by Israel's right to defeat Hamas. This is not to say Hamas should not be confronted – but rather Israel's absence of a discernible strategy to convert battlefield gains into lasting peace, or to separate Hamas from the broader Palestinian population. Two-thirds of Gaza lies in ruins. Two million people are displaced. And dozens die weekly, not in combat, but for inching forward in chaotic food lines, desperate for handouts. On the ground, Hamas forces have been severely weakened. Iran, its proxy backer, has also been constrained. And yet, famine now looms as the deadliest threat. Under international pressure, Israel has permitted food airdrops into Gaza. But, as UN aid chief Tom Fletcher has said, these are 'a drop in the ocean'. Airdrops are inefficient, especially while hundreds of aid trucks wait, fully loaded, at sealed border crossings. Prime minister Benjamin Netanyahu has kept those crossings closed and removed food distribution from UN agencies, handing it to the Israeli Defence Forces, who lack the infrastructure or experience to manage it effectively. Let's be blunt. Beyond 'destroying Hamas', Netanyahu offers no credible endgame, no plan for post-conflict governance in Gaza, no roadmap toward the long-promised two-state solution. His actions suggest a strategy of perpetual conflict. Regional powers, including Egypt, Jordan and the UAE, along with much of the international community, are eager to help. Not only to address the humanitarian crisis but to support the establishment of a credible post-Hamas governance structure that's likely to require international supervision. But Netanyahu rejects such support, shielded by continued backing from the White House, which has so far extended understandable but seemingly unconditional support following the Hamas attacks. However, Netanyahu's tactical decisions, lacking any strategic vision, are beginning to test that support. Where is he taking this conflict – a conflict that, in a broader sense, has been ongoing since 1948. His devastating campaign in Gaza and continued illegal settlement expansion in the West Bank suggest an intent to make a two-state solution unviable. In 2014, when the UK Parliament last debated Palestinian recognition, I responded as a foreign minister, saying Britain would recognise Palestine only when it judged such a move would aid the peace process, not as a symbolic gesture. It's a card that can only be played once, so it must be used wisely. It's easy to argue that now is not the right time – that we must focus on the immediate crisis. But I would argue that now is exactly the right time, to deliver a jolt that might reverse a dangerous trajectory, one that risks closing the window on a two-state solution forever. This issue is on the agenda at the UN in New York. Recognition could help shift global focus, isolate Hamas politically, and undercut Iran's justification for arming proxies in the region. Waiting endlessly for the 'perfect moment' is not a strategy. The current status quo, or the pursuit of a one-state solution, will only entrench a perpetual insurgency, fuelled externally and leaving Israel in a state of permanent tensions with its neighbours. As Trump's support for Netanyahu grows more conditional - including calls for decisive action to prevent famine – let's leverage this to refocus attention on the broader strategic imperative: achieving a two-state solution. Without that, suffering, extremism, and endless war will continue. Tobias Ellwood is a former foreign minister
Yahoo
18 minutes ago
- Yahoo
Trump's trade deal with the EU: What it means for your wallet
Imported cars, pharmaceuticals, apparel and more could grow more expensive in the months to come as the United States imposes a 15% tariff on most imports from the European Union. Analysts have labeled the agreement, announced July 27, as a win for President Donald Trump, whose administration had been working to complete deals by a self-imposed Aug. 1 deadline. U.S. stocks opened mostly higher on July 28, with the S&P 500 and Nasdaq reaching record highs after Trump announced a tariff far below the 30% rate threatened earlier in the month. But for U.S. consumers, even the reduced tariff is expected to spur higher prices. The Yale Budget Lab estimates that Trump's tariffs, including the new rate for EU imports, would raise prices by 1.8% in the short run, the equivalent of an average household income loss of roughly $2,400. While the increase may sound insignificant, 'the Federal Reserve's inflation target is 2%. So we're talking about almost a year's worth of inflation above and beyond the inflation that we would've gotten anyways,' said Ernie Tedeschi, director of economics at the Yale Budget Lab. 'So that's meaningful.' Here are some of the sectors that could see higher prices in the months to come. European cars Automobiles, one of the EU's largest export sectors, will likely see some of the most noticeable price hikes, according to Gary Hufbauer, a nonresident senior fellow at the Peterson Institute for International Economics. While the 15% tariff is a relief from the current 27.5% rate, Hufbauer said the auto industry's margins are thin enough that EU companies won't want to absorb the higher cost. 'I suspect European auto prices sold in the U.S. will go up probably at least 10%,' he told USA TODAY. German Association of the Automotive Industry President Hildegard Müller warned the 15% tariff could cost the German automotive industry 'billions annually.' Already, Volkswagen has trimmed its full-year sales forecast after reporting a $1.5 billion hit from tariffs over the first half of the year. Automobile price hikes will likely vary across European makes and models, according to Tedeschi, since many already operate factories in North America. That means trade deals with Canada and Mexico could also influence pricing. 'Consumers should keep an eye out for rising prices for European car imports, but they should not assume that all European brands are going to go up in price because of how complicated the supply chain is,' he said, adding that he expects to see price increases tied to the new EU tariffs play out this summer and fall. What were the EU tariffs before? What to know after trade deal Furniture Furniture is another sector that could get hit by tariffs, according to Stephen Brown, Capital Economics' deputy chief North America economist. The Swedish company IKEA, for instance, relies on China, Poland, Italy, Germany and Sweden to supply 'the majority' of products, according to its website. The company did not immediately respond to a request for comment, but Inter IKEA ‒ which produces IKEA furniture ‒ told Reuters in November that just 10% of the products it sells in the U.S. are made in the region. 'Unless they find somewhere else to import from or move around their supply chain, furniture prices ... could see some effects,' Brown said. Pharmaceuticals While certain sectors like wine and spirits appear to still be under negotiation, EU Commission President Ursula von der Leyen said pharmaceuticals will be covered by the 15% tariff, with certain generic drugs not subject to tariffs. The EU is behind about 60% of pharmaceutical imports to the U.S., according to Reuters, making them the largest European export to the U.S. by value. But Brown noted that pharmaceutical companies may be able to more easily shift production to the U.S. compared to other industries. For instance, the Danish manufacturer behind the GLP-1s Wegovy and Ozempic, Novo Nordisk, already has a presence in North Carolina and has plans to expand. 'Although there could be some short-term price increases, those might not be as durable as they are for other products,' Brown said. Additionally, consumers may not pick up on the industry's price hikes if their insurance covers the imported drug. Luxury items Luxury items like imported designer handbags and apparel could also see higher prices, as well as imported food. 'The difference between China and Europe, in terms of tariffs, is that the tariffs on China increase what people buy in Walmart and Target. The tariffs on European imports will mainly hit what people buy at Whole Foods and high-end retail stores,' said Hufbauer of the Peterson Institute for International Economics. He noted that the companies behind luxury goods tend to have higher margins, though, and may be more willing to absorb some of the higher costs tied to tariffs. Machinery Machinery and appliances are also major exports from the EU, accounting for roughly 20% of U.S. imports from the EU in 2021, according to the Commerce Department. While consumers won't buy machinery directly, experts warn the higher prices could eventually trickle down as manufacturers adjust to higher costs. 'These are not necessarily products that immediately or directly impact the consumers, but they can indirectly affect consumers, especially after many years,' Tedeschi said. This article originally appeared on USA TODAY: What Trump's EU trade deal means for your wallet Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18 minutes ago
- Yahoo
Trump visit gives Swinney golden opportunity to butter up president on Scotch whisky tariffs exemption
There had been much talk of the possibility of a frosty reception when the US president locked eyes with Scotland's first minister. Donald Trump and John Swinney are not natural friends. They couldn't be further apart politically speaking and personality-wise. However, it seems is enjoying his foreign holiday enough for the pair to park their differences and bond over their mutual love for . As Mr Trump departed the White House, he branded Mr Swinney a "good man" before turning up the love suggesting he had heard "good things" about the SNP leader. As close to an endorsement as it gets from Mr Trump. The White House extended an invite for a one-to-one meeting between the president and first minister but last night came another opportunity, in the form of a VIP dinner. Sources close to the Aberdeenshire banquet, where seafood was on the menu, described it as a "productive, interesting" event. I am told Mr Swinney and Prime Minister Sir Keir Starmer sat on either side of the president in an evening where they talked golf and trade in the company of around 20 others. POTUS (president of the United States) had earlier said he wanted to see Scotland "thrive" and clearly the presence of both Mr Swinney and Mr Starmer created the golden opportunity to butter up the president who is mulling over reducing Scotch whisky tariffs to zero. Sources in the room described the first minister as "landing some arguments" before the prime minister departed the event early. Ditching dessert apparently. But the dinner had all the ingredients to be an awkward encounter. The first minister previously called for the upcoming state visit with Mr Trump to be axed in the wake of the Volodymyr Zelenskyy White House shouting match earlier this year. And in true Mr Trump style, just hours before the Aberdeenshire summit the president had been freewheeling live on TV about Scottish independence - Mr Swinney's lifetime goal - saying a second vote on the country's future should be restricted to "50 or 75 years". An eye-bulging intervention from the leader of the free pair met again on Tuesday morning to talk business in a more formal, sober setting on the Aberdeenshire estate. Mr Swinney's team were wanting to talk about the growing humanitarian crisis in Gaza. Read more: Scotland has been at the epicentre of international politics for the past five days where, it seems, Mr Trump has been in listening mode. His new political friends will be hoping they have persuaded him to act harder on the pressing issues in the Middle East.