The BRICS+ alliance, under the chairmanship of Brazil, held a conference, "The Dilemmas of Humanity," in São Paulo, where the bloc’s members and partners discussed approaches to countering the tariff regime imposed by the Trump administration, a new financial architecture, and enhancing platforms to promote South-South cooperation.

Yaroslav Lissovolik attended the conference and shared recent updates with us. In our conversation, Yaroslav emphasized that President Trump’s tariffs are encouraging countries of the Global South to increase cooperation and establish joint commodity platforms, such as the BRICS+ Grains Exchange. With more than 30 countries expressing interest in joining the bloc, its expansion is an indicator of the global shift in power fueled by the economic and trade policies of the West.

To address the flaws in global economic governance, the BRICS+ advocates for establishing a regional governance layer between national economies and global institutions like the IMF and World Bank. This intermediate layer would include regional trade, financing, and development institutions, which already possess more combined resources than their global counterparts. While some progress has been made, a comprehensive system is still lacking. The Global South, with existing regional groups and financial institutions, is well-positioned to lead this initiative through integration and coordination.

Dr. Yaroslav Lisovolik is the founder of BRICS+ analytics, a valuable source of unbiased and professionally presented, highly detailed information on the BRICS+ economic alliance and its latest developments.

Thank you to all my subscribers for being part of World Affairs in Context. Your support makes the newsletter happen, and your questions, ideas, and suggestions inspire it. Please consider becoming a paid subscriber, which will help contribute to the resources needed to produce more content on the platform. If you’d like to make a one-time contribution, please do so via PayPal or Buy Me a Coffee.

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The interview is available on YouTube and Patreon.

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Greetings, All!

Let’s catch up on the latest top headlines, opinions, and recommendations.

Top Videos of the Week

Trump to FIRE Powell as the Fed Prepares to BAILOUT Wall Street After Freak Bond Sell-Off

In April 2025, the U.S. bond market experienced a sharp sell-off, with 10-year Treasury yields surging to levels unseen since 2007. This turmoil reflects growing investor fears over rising U.S. debt, inflation, and uncertainty around Federal Reserve policy and leadership. Trade tensions, especially with China, are adding inflationary pressure, while the Fed’s slow response has fueled doubts about its control. Massive government debt issuance is also flooding the market, driving yields up and bond prices down. Higher yields mean increased borrowing costs for consumers and businesses, raising recession fears. The Fed may intervene to stabilize markets amid mounting economic instability.

China SHUTS DOWN American LNG Deals: US Loses $2.5 Billion as Trade War Tensions Flare Up

China has suspended imports of U.S. liquefied natural gas (LNG) amid escalating trade tensions, effectively creating an embargo as of April 18, 2025. While U.S. LNG accounted for only 6% of China’s imports, the move puts $2.4 billion in trade and several U.S. and Mexican infrastructure projects at risk. China is swiftly replacing U.S. LNG with supplies from Russia, Iran, and others, highlighting its energy flexibility. Analysts warn of potential U.S. job losses and stalled investments. Meanwhile, Europe is buying diverted U.S. cargoes, increasing its reliance on American energy. The trade war’s economic fallout may rival or exceed previous rounds.

Trump Targets Drug Imports: What It Means for U.S. Healthcare Costs

The Trump administration's plan to impose tariffs on pharmaceutical imports could lead to higher drug prices and exacerbate the already struggling U.S. healthcare system. The U.S. heavily relies on pharmaceutical imports, including active ingredients and generic drugs, from countries such as China and India. Tariffs could increase production costs, reduce competition, disrupt supply chains, and delay the availability of generic drugs, ultimately driving up prices for consumers. Meanwhile, the U.S. healthcare system ranks lowest among wealthy nations in terms of access, outcomes, and efficiency, despite having the highest spending. With many Americans uninsured or underinsured, added costs from tariffs may make basic healthcare even more unaffordable for millions.

U.S. LOSING Trade War? Massive 245% Tariff on China as Trump Reveals His Global Isolation Strategy

On April 16, the White House announced a 245% tariff on Chinese imports, escalating an already strained U.S.-China trade war. Despite repeated tariff hikes, the strategy has failed to alter trade dynamics, with China demonstrating a level of resilience and maintaining its global economic influence. Beijing seeks respectful diplomacy and consistency from the United States, while continuing to invest in infrastructure and global partnerships, such as the Belt and Road Initiative. The U.S., meanwhile, risks economic fallout—higher consumer prices, job losses, and diminished global influence. Experts warn this aggressive strategy may backfire, as China remains the top trading partner for over 120 countries and shows no signs of backing down.

BRICS+ Dethrones the West as its Grain Exchange Undermines US Trade Dominance Globally

As trade tensions escalate, the Global South is moving forward with developing platforms to enhance its cooperation opportunities. In 2024, BRICS+ launched the BRICS+ Grain Exchange, quietly revolutionizing global agriculture and trade. With over 50% of the world’s grain production, BRICS+ now trades key staples like wheat, corn, and soy in local currencies, bypassing Western-controlled markets. This shift enhances food security and sovereignty for the Global South, reducing dependence on the U.S. dollar and Western pricing. Like OPEC controls oil, BRICS+ may now influence global food supply and prices. As new members join, the bloc strengthens its position, challenging the West’s dominance and ability to enhance its policy tools with economic measures. This signals a new era in geopolitics where food becomes both leverage and lifeline.

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This Week’s Top Headlines

Finance & Economics

• U.S. Bond Market Sell-Off: The U.S. bond market experienced a sharp sell-off, with the 10-year Treasury yield rising from 3.86% to 4.5% in just five days, marking its highest level since 2007. This surge in yields has raised concerns about inflation and potential recession, prompting discussions about possible Federal Reserve intervention.

  

• Intensifying U.S.–China Trade War: The U.S. imposed tariffs exceeding 100% on Chinese goods, leading to retaliatory measures from China. The escalating trade war has disrupted global supply chains, increased inflationary pressures, and prompted concerns about a potential global economic slowdown.

• UK Chancellor's Visit to Washington: UK Chancellor Rachel Reeves traveled to Washington to attend the IMF Spring Summit and meet with U.S. Treasury Secretary Scott Bessent. The goal of the discussions was to reduce tariffs on British goods and explore a potential free trade agreement, reflecting the UK's strategic pivot in global trade negotiations.

Geopolitics

• Xi Jinping's Southeast Asia Tour: Chinese President Xi Jinping visited Vietnam, Malaysia, and Cambodia from April 14–18, 2025, to strengthen diplomatic and economic ties amid escalating U.S.–China trade tensions. The visits aimed to fortify relationships with Southeast Asian nations and counterbalance Western influence in the region.

• Italian Prime Minister Giorgia Meloni's visit to the United States: On April 17, 2025, Italian Prime Minister Giorgia Meloni met with U.S. President Donald Trump at the White House. The discussions centered on enhancing U.S.-Italy relations, with Meloni offering strategic cooperation, including increased U.S. gas purchases and encouraging Italian investment in the U.S. Trump praised Meloni as a respected and influential European leader. The meeting presented Meloni as a favored ally in Europe under Trump’s administration .

  

  

  During the meeting with President Trump, PM Meloni commented that she wants to “make the West great again.”

• Witcoff's Visit to France on Ukraine Peace Talks: On April 17, 2025, U.S. Special Envoy for Ukraine, Mark Witcoff, visited France to meet European leaders regarding a potential peace agreement between Ukraine and Russia. The US tried to convince the EU to accept the possibility of negotiations with Russia; while the EU tried to convince the US to prolong the conflict.

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• The US continues to bomb Yemen, without Congressional approval: The Trump administration carried out multiple airstrikes across Yemen, including on the capital, Sana’a, and civilian infrastructure, Yemen’s Ras Isa oil port, killing dozens of innocent civilians, including paramedics who had arrived on the scene to rescue the victims. Two American strikes murdered 58 people and injured 126. Yet, there is no public condemnation in the US of such extreme violence and loss of innocent lives. Despite heavy losses, Yemen continues to support Palestinians.

• Israel continues to block food, water, and humanitarian aid to Gaza: more than 40 days without water, food, or basic necessities result in famine spreading in Gaza and a lack of medical supplies to treat the wounded and the sick.

  

  

• On Saturday, April 19th, the Kremlin unilaterally proposed an Easter ceasefire, effective from 6 pm on April 19th to 12 am on April 21st. President Putin’s proposal underscores the importance of Easter in Eastern Orthodoxy and Russia’s readiness to proceed with meaningful negotiations. Zelensky, on the other hand, appeared taken aback by the proposal and, after reacting negatively to it, accepted the Easter truce.

Remember to tune in to World Affairs in Context for more news, analysis, and upcoming interviews available on YouTube, Rumble, Patreon, Locals, and now Spotify.

Thank you to all my subscribers for being part of World Affairs in Context. Your support makes the newsletter happen, and your questions, ideas, and suggestions inspire it. Please consider becoming a paid subscriber, which will help contribute to the resources needed to produce more content on the platform. If you’d like to make a one-time contribution, please do so via PayPal or Buy Me a Coffee.

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Let’s examine a critical topic that affects all of us: the Trump administration’s push to impose tariffs on pharmaceutical imports. While this move may sound like just another policy headline, it could have serious consequences for millions of Americans, especially those already struggling to afford healthcare (unfortunately, there are millions of them!).

America’s Dependence on Imported Pharmaceuticals

The United States is the world’s largest importer of pharmaceutical products. In 2024 alone, the country imported around $214 billion worth of drugs and related products, while exporting only $95 billion, leaving us with a hefty $119 billion trade deficit in this sector.

But here’s what’s important: the U.S. doesn’t just import finished drugs. We also rely on foreign sources for active pharmaceutical ingredients (APIs)—the core compounds used in drug manufacturing. While about 54% of these were produced domestically in 2019, the rest came from countries like Ireland, China, India, and Germany.

This means that even “Made in America” medications still depend on global supply chains—and tariffs could disrupt the entire system.

Generic Drugs Are Especially at Risk

Generic medications, often more affordable than brand-name drugs, are particularly vulnerable. China, for example, supplies 95% of U.S. ibuprofen imports, 91% of hydrocortisone, and up to 45% of penicillin. The U.S. doesn’t currently have the manufacturing capacity to replace these imports at scale.

If tariffs are imposed, prices on everyday drugs—from antibiotics to over-the-counter painkillers—could skyrocket, leaving consumers with no choice but to pay more or go without.

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A Broken System on the Brink

Let’s not forget: the U.S. healthcare system is already broken (I will share more detailed posts on this in the near future).

According to the Commonwealth Fund, America ranks last among 10 high-income nations when it comes to healthcare access, outcomes, and equity. Despite spending 16% of its GDP on healthcare, the U.S. continues to fall short.

Here’s a snapshot:

• 26 million Americans remain uninsured.

• 1 in 4 working-age adults are underinsured.

• Over 40% of Americans spent $1,000 or more out-of-pocket on healthcare last year.

• Life expectancy is just 77.5 years—lower than many peer nations, and even comparable to Iran.

Now add tariffs on life-saving medicines? It’s a recipe for disaster.

Watch the latest video where I share more details on the subject, available on YouTube and Rumble:

How Tariffs Raise Drug Prices

Here’s how tariffs can hurt consumers:

1. Higher Production Costs – Tariffs raise the cost of importing ingredients, making medications more expensive to produce.

2. Less Competition – Smaller generic drug companies may not survive, reducing competition and driving prices up.

3. Disrupted Supply Chains – Delays and shortages could hit pharmacies across the country.

4. Fewer Generics – Delays in launching affordable generics mean consumers may be stuck paying for costly brand-name drugs.

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Therefore, tariffs on pharmaceuticals may sound like an economic strategy, but in reality, they hit everyday Americans the hardest. At a time when people are already drowning in medical bills, we need policies that lower healthcare costs, not drive them higher.

Should the U.S. impose tariffs on pharmaceutical imports? Drop a comment below—I’d love to hear your take.

Thanks again for reading!

Thank you to all my subscribers for being part of World Affairs in Context. Your support makes the newsletter happen, and your questions, ideas, and suggestions inspire it. Please consider becoming a paid subscriber, which will help contribute to the resources needed to produce more content on the platform. If you’d like to make a one-time contribution, please do so via PayPal or Buy Me a Coffee.

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Greetings, All!

Let’s catch up on the latest top headlines, opinions, and recommendations.

This week I enjoyed three fascinating conversations:

Collapse of the Fake Economic System: Threat of Iran War & Surging Debt Send Final Warnings with Dr. Ron Paul

Dr. Paul notes that the United States has been on an unsustainable fiscal path, and we are witnessing the collapse of the fake economic system. President Trump seeks to increase the Pentagon budget to $1 trillion as the federal deficit rises and the national debt surpasses $37 trillion. Interest on the debt is already larger than spending on Medicare and national defense combined – it is second only to Social Security. Ending the glorification of militarism and interventionism over peace, sound money policies, and the nation’s prosperity is the first step toward addressing economic and political challenges.

US-Russia Peace Talks Stall: Will US Abandon the Failed Proxy War to Attack Iran? with Prof. Pascal Lottaz

Dr. Pascal Lottaz notes that although the US-Russia peace talks are progressing much slower than originally expected, the peace in Ukraine is viewed by both sides as only a part of the bigger goal to re-establish an effective security architecture in Europe. The calls for a ceasefire are meant to freeze the conflict as Russia is decisively winning on the battlefield. The tensions within the Trump administration and the neocons who push to continue the fighting (such as Gen. Chris Cavoli) indicate internal policy misalignment as the military-industrial complex refuses to abandon a failed proxy war before it sets the stage for a pivot to another lucrative multi-billion-dollar conflict.

China Warns Philippines: The US Grooms New Pawn for War on China with Dr. Anna Malindog-Uy

The US State Department’s approval of a $5.58 billion military sale to the Philippines, featuring 20 cutting-edge F-16 fighter jets and a wide array of advanced weaponry and support systems, came amid reports of the deployment of yet another Typhon missile system to the country. After the recent social unrest caused by the ICC arrest of the former President Rodrigo Duterte, the Marcos Jr. administration welcomed US Secretary of Defense Pete Hegseth, whose main goal was to strengthen the military alliance between the two countries.

Anna Malindog-Uy notes that the new arms race in the region will drive China to an increasingly defensive posture and further destabilize the Indo-Pacific region. Tensions in the South China Sea and those surrounding Taiwan are escalating, and the multi-billion-dollar sales of weapons to the Philippines indicate that the country is being groomed as a new U.S. proxy in Asia.

Top Videos of the Week

US to Send $10,000 Checks to EACH Greenlander to Allow the US to Annex Their Land

Donald Trump’s push to acquire Greenland has turned from a bizarre idea into a formal U.S. strategy, now using taxpayer-funded PR campaigns and financial incentives to manipulate Greenland’s small population. Rather than respecting Greenlandic autonomy, the U.S. aims to “educate” residents into alignment while painting Denmark as a villain. Trump’s plan proposes $10,000 payments per resident to gain access to the island’s valuable resources—benefiting U.S. elites, not Greenlanders. Despite clear opposition from both Denmark and the island’s people, Trump remains confident. What looks like soft power is, in reality, a calculated attempt to buy influence and exploit Arctic resources under false pretenses.

China Is De-dollarizing: China Launches $1.2 Trillion Digital Yuan System, Bypasses Western SWIFT

The U.S.–China tariff war has sharply escalated, with China imposing a 125% tariff on U.S. goods in response to Trump’s staggering 145% tariff on Chinese imports. While Trump frames it as a punishment for China’s “disrespect,” critics argue it's reckless protectionism harming global trade and U.S. consumers. Treasury Secretary Scott Bessent downplayed China’s retaliation, ignoring how deeply these tariffs affect American wallets. Without broader economic reforms—like investing in labor, infrastructure, and raw materials—tariffs alone won’t revive U.S. manufacturing. This trade war may be more about political posturing than policy, and it’s the American public who will pay the price.

This Week’s Top Headlines

President Trump backtracks on tariffs, exempts phones, chips, and computers

The exclusions, published late Friday by US Customs and Border Protection, narrow the scope of the levies by excluding the products from Trump’s 125% China tariff and his baseline 10% global tariff on nearly all other countries.

The exclusions apply to smartphones, laptop computers, hard drives, computer processors, and memory chips. These popular consumer electronics items are generally not made in the US, and the US imports over $60 billion of smartphones per year.

Thank you to all my subscribers for being part of World Affairs in Context. Your support makes the newsletter happen, and your questions, ideas, and suggestions inspire it. Please consider becoming a paid subscriber, which will help contribute to the resources needed to produce more content on the platform. If you’d like to make a one-time contribution, please do so via PayPal or Buy Me a Coffee.

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Trump envoy: Ukraine could be divided like postwar Berlin

Keith Kellogg suggests the UK and France could lead the western zone of control while enjoying full control of Odessa, a critical naval point on the Black Sea, while Russia controls the left bank of the Dnipro River.

In an interview with The Times, Kellogg said the Anglo-French-led force west of the Dnipro River would “not be provocative at all” to Moscow. On numerous occasions, Russia made it clear that any Western troops would be escalatory and therefore unacceptable.

Following the release of the interview, Keith Kellogg said The Times misunderstood the meaning of what he said about "dividing Ukraine."

US-Iran Negotiations Begin in Oman

Following the bilateral talks on April 12 in Oman, Iran said the first formal talks with US envoy Steve Witcoff over its nuclear program were “constructive,” and both sides agreed to meet again next week. The indirect talks lasted 2.5 hours, after which US envoy Steve Witcoff and the Foreign Minister of Iran, Seyed Abbas Araghchi, spoke briefly.

The two sides discussed Iran’s nuclear program and the lifting of sanctions “in a constructive atmosphere and with mutual respect,” the Iranian foreign ministry said in a statement after indirect talks that lasted for more than two hours.

While the US seeks the full dismantling of Iran’s peaceful (civilian) nuclear program, Iran has proposed to the United States a nuclear-free Middle East, including a completely denuclearised Israel.

Former Iranian diplomat and participant in the 2015 nuclear talks Hossein Mousavian commented that Iran would never agree to the US demands to shut down its nuclear program, and the Iranian missile program would also be off-limits in these negotiations. If a deal is to be made, it has to consider the interests of all involved parties.

Vladimir Putin and US envoy Steve Witkoff met in St. Petersburg on April 11th 2025

This was the third meeting this year between President Putin and Steve Witkoff. Earlier this week, US Secretary of State Marco Rubio commented:

“We will know soon enough, in a matter of weeks, not months, whether Russia is serious about peace or not. I hope they are."

Although no details have been released, Turkiye announced that it will host the next round of negotiations between Russia and the United States.

Market Turmoil Amid Tariff Announcements

President Trump's sudden announcement of a 10% universal tariff on all imports, effective April 5, and additional “reciprocal” tariffs targeting specific countries, including a 145% tariff on Chinese imports, led to global market volatility. The MSCI All-Country Index lost over $5 trillion in value, reflecting investor unpreparedness for such aggressive trade policies and a deteriorating economic outlook as a result of the new tariff regime and instability.

What I’m Reading & Listening to This Week

This week, my top podcast was “Ukraine is a repeat of Afghanistan” by Neutrality Studies. Why is this an important topic? History repeats itself. Little-known facts, such as that the US used Mujahideen as proxies in its ideological war with the USSR, provide clarity and help set the stage for understanding hybrid warfare and current proxy conflicts.

Additionally, I enjoyed a recently published article, “Under Primacy, Weapons Sales Will Always Supersede Human Rights.” The U.S. government’s professed dedication to human rights is often at odds with its pursuit of global military dominance. Since the 1970s, when Congress enacted laws to restrict military aid to human rights violators, the U.S. has presented itself as a global defender of rights. However, this commitment has consistently taken a backseat to strategic interests, from the Cold War to the War on Terror. Despite legislation, Congress has never blocked a weapons sale, exposing the limits of these human rights protections.

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This pattern has continued through successive administrations, regardless of party. The U.S. frequently invokes human rights to criticize adversaries, while ignoring violations by allies. This hypocrisy is especially evident in the Biden administration’s unconditional military support for Israel during its 2023 invasion of Gaza, despite credible evidence of legal violations.

The author argues that as global power shifts toward multipolarity, Washington remains fixated on preserving U.S. military supremacy. In this environment, human rights remain secondary, and they are used selectively when convenient. Genuine progress requires a fundamental rethinking of U.S. foreign policy, emphasizing restraint and reducing reliance on military dominance to foster a more consistent and principled commitment to human rights.

Thank you to all my subscribers for being part of World Affairs in Context. Your support makes the newsletter happen, and your questions, ideas, and suggestions inspire it. Please consider becoming a paid subscriber, which will help contribute to the resources needed to produce more content on the platform. If you’d like to make a one-time contribution, please do so via PayPal or Buy Me a Coffee.

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Today, I was honored to connect with Dr. Ron Paul whose dedication to supporting a peaceful foreign policy and the protection of civil liberties at home has been unparalleled. Dr. Paul is a former Congressman, United States Presidential candidate, and the founder of The Ron Paul Institute for Peace and Prosperity. Dr. Paul is the host of The Ron Paul Liberty Report, a must-watch show on Rumble!

Dr. Paul notes that the United States has been on an unsustainable fiscal path, and we are witnessing the collapse of the fake economic system. President Trump seeks to increase the Pentagon budget to $1 trillion as the federal deficit rises and the national debt surpasses $37 trillion. Interest on the debt is already larger than spending on Medicare and national defense combined – it is second only to Social Security. Ending the glorification of militarism and interventionism over peace, sound money policies, and the nation’s prosperity is the first step toward addressing economic and political challenges.

Follow Dr. Ron Paul on X, watch The Ron Paul Liberty Report for daily updates, news, and analysis, and connect with the Ron Paul Institute for Peace and Prosperity.

The video is available on YouTube and Patreon.

Thank you to all my subscribers for being part of World Affairs in Context. Your support makes the newsletter happen, and your questions, ideas, and suggestions inspire it. Please consider becoming a paid subscriber, which will help contribute to the resources needed to produce more content on the platform. If you’d like to make a one-time contribution, please do so via PayPal or Buy Me a Coffee.

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Although President Donald Trump campaigned on ending the Ukraine-Russia conflict “in 24 hours”, the complexity of the US proxy war has proven to be far more nuanced. Since January 2025, the neocons in Washington spent $1 billion to bomb Yemen as the Trump Administration approved nearly $12 billion in major FMS sales to Israel. As the US buildup of military assets around Iran intensifies, will it seek to exit its failed proxy war in Ukraine to attack Iran?

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Dr. Pascal Lottaz notes that although the US-Russia peace talks are progressing much slower than originally expected, the peace in Ukraine is viewed by both sides as only a part of the bigger goal to re-establish an effective security architecture in Europe. The calls for a ceasefire are meant to freeze the conflict as Russia is decisively winning on the battlefield. The tensions within the Trump administration and the neocons who push to continue the fighting (such as Gen. Chris Cavoli) indicate internal policy misalignment as the military-industrial complex refuses to abandon a failed proxy war before it sets the stage for a pivot to another lucrative multi-billion-dollar conflict.

Dr. Pascal Lottaz is Associate Professor for Neutrality Studies at Kyoto University’s Faculty of Law & Hakubi Center. Follow Pascal on X and watch one of his recent interviews and analysis videos on Neutrality Studies.

The video is available on YouTube and Patreon.

Thank you to all my subscribers for being part of World Affairs in Context. Your support makes the newsletter happen, and your questions, ideas, and suggestions inspire it. Please consider becoming a paid subscriber, which will help contribute to the resources needed to produce more content on the platform. If you’d like to make a one-time contribution, please do so via PayPal or Buy Me a Coffee.

Subscribe now

The US State Department’s approval of a $5.58 billion military sale to the Philippines, featuring 20 cutting-edge F-16 fighter jets and a wide array of advanced weaponry and support systems, came amid reports of the deployment of yet another Typhon missile system to the country. After the recent social unrest caused by the ICC arrest of the former President Rodrigo Duterte, the Marcos Jr. administration welcomed US Secretary of Defense Pete Hegseth, whose main goal was to strengthen the military alliance between the two countries.

Anna Malindog-Uy notes that the new arms race in the region will drive China to an increasingly defensive posture and will further destabilize the Indo-Pacific region. The tensions in the South China Sea and those surrounding Taiwan are escalating as the multi-billion-dollar sales of weapons to the Philippines indicate it is being groomed as a new U.S. proxy in Asia.

Dr. Anna Malindog-Uy is the Vice President at the Asian Century Philippines Strategic Studies Institute. Follow Anna on X and read her latest articles on her site.

Thank you to all my subscribers for being part of World Affairs in Context. Your support makes the newsletter happen, and your questions, ideas, and suggestions inspire it. Please consider becoming a paid subscriber, which will help contribute to the resources needed to produce more content on the platform. If you’d like to make a one-time contribution, please do so via PayPal or Buy Me a Coffee.

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Greetings, All!

Let’s catch up on the latest top headl…

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As the new tariff regime is launched, its impact on the United States, the targeted countries, and the global economy is increasingly challenging to predict. After identifying China as a foreign “adversary”, the United States has doubled down on aggressive policies aimed at inflicting economic pain to weaken China’s manufacturing, military, and geopolitical capabilities.

Dr. notes that China’s trade ties are well-diversified, and the shift away from the US market will take no longer than two years. The new tariffs are unlikely to yield better results than the tariff regime imposed on China during President Donald Trump’s first term. In fact, China has already won the technology race. Warwick underscored that tariffs alone would not “bring manufacturing back to the United States”; instead, policies to reduce the dominance of the finance sector, raise substantial investments in infrastructure, and create highly skilled, well-educated human capital should be prioritized.

Follow Warwick Powell on X, and check out his recent articles here!

Thank you to all my subscribers for being part of World Affairs in Context. Your support makes the newsletter happen, and your questions, ideas, and suggestions inspire it. Please consider becoming a paid subscriber, which will help contribute to the resources needed to produce more content on the platform. If you’d like to make a one-time contribution, please do so via PayPal or Buy Me a Coffee.

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Follow World Affairs in Context on YouTube for more video content. In the comments section, let me know who you would like to see as a guest on the podcast in the future.

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As the gold price reached $3,000 per troy ounce, the Trump administration may consider revaluing U.S. gold reserves. Despite the fact that calls to audit Fort Knox have died down, the existence of nearly 8,000 tons of gold (worth about $750 billion) held at Fort Knox is still surrounded by mystery. Does the gold at Fort Knox even exist? What is its true origin? What’s driving the federal government’s lack of transparency? Will gold revaluation collapse the U.S. dollar, as so many gold brokers claim? Will gold reserves be used to pay off $37 trillion in U.S. national debt or buy Bitcoin for the newly created Federal Bitcoin Reserve? I discussed these and other questions with Ryan McMaken, economist and executive editor at the Mises Institute.

Ryan McMaken notes that the gold held at Fort Knox was effectively “stolen” from the American public by the U.S. government after President Franklin D. Roosevelt issued Executive Order 6102 in 1933. This order effectively made gold ownership, both in coins and bars, illegal for all Americans and punishable by up to ten years in prison.

Follow Ryan McMaken on X, and check out his books and articles here!

Thank you to all my subscribers for being part of World Affairs in Context. Your support makes the newsletter happen, and your questions, ideas, and suggestions inspire it. Please consider becoming a paid subscriber, which will help contribute to the resources needed to produce more content on the platform.

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Follow World Affairs in Context on YouTube for more video content. In the comments section, let me know who you would like to see as a guest on the podcast in the future.

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Chinese regulators recently blocked BlackRock’s $23 b…

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Greetings, All!

Let’s catch up on the latest top headl…

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The article was written by Dr. Ron Paul and originall…

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Greetings, All!

Let’s catch up on the latest top head…

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While it may be challenging to keep up with President Trump’s slew of statements, ideas, and new laws, changes to the U.S. tax code have been on Trump’s agenda since he kicked off his 2024 presidential campaign. Against the backdrop of the newly announced tariffs on China, Mexico, and Canada, expected changes to the tax code include reductions in income tax rates and increases in income tax credits. Despite these changes appearing promising at first glance, increases in tariffs (and thus, likely increases in consumer prices) may offset moderate reductions in individual income taxes.

Any changes to tax legislation will proceed through the legislative process called “reconciliation.” On January 17, 2025, a House Ways and Means Committee prepared and circulated a long list of proposed tax law changes.

While writing (and, to be fair, reading) about taxes is arguably the most boring way to pass the time, let’s quickly walk through the key proposed changes to the United States tax code and their expected impact on the U.S. economy. We’ll begin with the Tax Cuts and Jobs Act, which is the most important part of the proposal.

Extension of the 2017 Tax Cuts and Jobs Act (“TCJA”)

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U.S. Secretary of State Marco Rubio acknowledges that the unipolar world has come to an end. Despite the United States desperately attempting to maintain its global dominance, great powers China and Russia will continue to use available resources to advance their interests and enhance multipolarity.

The question is - will the United States accept its new role?

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