Trump's sweeping tariff pause ENDS next week... here's the everyday goods set to skyrocket in price
Unless Donald Trump decides to blink and impose another delay - a move he's made before - consumers could soon be forking out more for a range of goods.
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Reuters
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- Reuters
Congo army and rebels trade blame over clashes, troop buildup
KINSHASA, Aug 12 (Reuters) - Congo's army on Tuesday accused Rwanda-backed rebels of carrying out multiple attacks in eastern Congo which it said violated agreements signed in Washington and Doha, and warned it reserved the right to respond to provocations. The army statement came a day after the rebel group, known as M23, accused Congolese forces of mobilising more troops and violating the terms of a declaration of principles signed on July 19 in Doha voicing support for a permanent ceasefire. The conflicting statements came as peace talks scheduled to resume in Doha last week have been delayed. In the declaration of principles, Congo and M23 pledged to begin talks by August 8 and aim for a final deal by August 18. Neither side currently has delegations in Doha. M23 leader Bertrand Bisimwa said last week that the rebels had not received an invitation to the talks. Another rebel leader, speaking on condition of anonymity, told Reuters the group would not go to Doha "until Kinshasa begins to respect the declaration of principles, which provides for the release of our detained members". The statement on Tuesday from Congo's army said M23 was perpetrating almost daily attacks on its positions. The earlier M23 statement said Congo's army had carried out significant troop movements and military equipment deployments in six different locations. The Qatar-hosted talks were intended to run parallel to a mediation effort by U.S. President Donald Trump's administration involving Congo and Rwanda. Washington hopes the diplomatic push will produce a sustainable peace and attract billions of dollars of Western investment to a region rich in tantalum, gold, cobalt, copper and lithium. M23 rebels seized eastern Congo's largest city Goma in January as part of a rapid advance that has given them control of more territory than ever before. Rwanda, which has long denied helping M23, says its forces act in self-defence against Congo's army and ethnic Hutu militiamen linked to the 1994 Rwandan genocide.
Reuters
a few seconds ago
- Reuters
US crude production to hit record 13.41 million bpd in 2025 before falling, EIA says
NEW YORK, Aug 12 (Reuters) - U.S. crude production will hit a record 13.41 million barrels per day in 2025 due to increases in well productivity, though lower oil prices will prompt a fall in output in 2026, the Energy Information Administration forecasted on Tuesday in a monthly report. The decline in 2026 production to 13.28 million bpd would be the first drop in output since 2021 for the world's largest producer, the EIA data showed. Prices for the international benchmark Brent will average $51 per barrel next year, down from the EIA's previous forecast of $58 per barrel, after the Organization of the Petroleum Exporting Countries and its members decided to accelerate the pace of production increases. "Low oil prices in early 2026 will lead to a reduction in supply by both OPEC+ and some non-OPEC producers, which we expect will help moderate inventory builds later in 2026," the EIA said. In last month's report, the EIA had projected U.S. crude output at 13.37 million bpd in both 2025 and 2026. The United States produced 13.21 million bpd in 2024. U.S. producers this year have had to navigate President Donald Trump's on-again, off-again tariffs that have sparked economic uncertainty, rising supply quotas from OPEC+, and ongoing conflicts in the Middle East and in Ukraine. Lower crude prices are expected to push down retail prices for petroleum products, the EIA said, adding it expects retail gasoline prices in the U.S. to average less than $2.90 per gallon next year, about 20 cents per gallon less than this year. U.S. distillate fuel inventories will end 2025 at the lowest end-of-year level since 2000, after decreasing 14% over the course of the year due to increased exports and demand, the EIA said. Lower U.S. refinery capacity and continued strong export demand will keep inventory levels lower, with distillate inventories remaining relatively flat in 2026, the agency added. U.S. oil demand will increase to 20.4 million bpd in 2025, in line with previous forecasts, the EIA said. In 2026, oil demand will rise to 20.5 million bpd, versus a previous estimate of 20.4 million bpd.
Daily Mail
a few seconds ago
- Daily Mail
Illinois governor likens Trump's D.C. power-grab to Nazis as other 2028 Democrats wrestle with a response
Democratic Illinois Gov. JB Pritzker compared President Donald Trump federalizing Washington, D.C.'s police department and sending in the National Guard to moves made by the Nazis. During Trump's announcement Monday morning, the Republican president signaled he could make similar moves in other cities, including Chicago, which set Pritzker off. Pritzker, 60, charged that Trump 'doesn't follow the law.' 'I have talked about the fact that the Nazis in Germany in the '30s tore down a constitutional republic in just 53 days,' Pritzker said. 'It does not take much, frankly, and we have a president who seems hell-bent on doing just that,' the Democrat added, according to the Chicago Tribune. The comments came a day after Pritzker signaled that he was open to a 2028 presidential bid - something that Trump mocked during his raucous briefing. 'And now I understand he wants to be president,' Trump said. 'But I noticed he lost a little weight, so maybe he has a chance, you know? You never know what happen,' the president teased before adding, 'But Pritzker's a gross incompetent guy.' In a social media post, Pritzker sarcastically wrote, 'Donald, thanks for the compliment!' 'Let's not lie to the public, you and I both know you have no authority to take over Chicago,' he continued. 'By the way, where are the Epstein files?' A handful of other possible 2028 Democratic hopefuls were quick to criticize Trump too - though they didn't take it quite as far. California Gov. Gavin Newsom, who objected to Trump deploying U.S. Marines and the National Guard to Los Angeles earlier this year to quell anti-Immigration and Customs Enforcement protests, noted that the president 'was just getting warmed up in Los Angeles.' 'He will gaslight his way into militarizing any city he wants in America,' Newsom said. 'This is what dictators do.' Maryland Gov. Wes Moore, whose state is adjacent to Washington, D.C., said in an official statement that Trump's announcement 'lacks seriousness and is deeply dangerous.' He claimed Trump was 'simply using honorable men and women as pawns to distract us from his policies.' New Jersey Sen. Cory Booker, a failed 2020 White House candidate, took to X to claim that 'Trump doesn't care about the rule of law, and he doesn't care about D.C.' 'This insulting stunt and abuse of power is all a distraction from his corruption and incompetence,' the New Jersey Democrat said. Former Transportation Secretary Pete Buttigieg, who also ran an unsuccessful 2020 presidential bid, said the D.C. announcement amounted to a distraction and more. 'The president is doing this not in order to make the city safer - that's the job of local law enforcement - but to solve his own political problems,' Buttigieg said. 'I hesitate to use a word like "distraction," even though distraction is part of the goal, because it is legitimately important thing that he is taking power in this way.' Pennsylvania Gov. Josh Shapiro didn't chime in because he was distracted. On Monday a steel mill outside of Pittsburgh exploded killing two workers and hurting others. Other notable 2028 wannabes, including former Democratic nominee Kamala Harris and Michigan Gov. Gretchen Whitmer didn't immediately comment on the issue.
