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Chris Hippensteel

We’re watching today as Scott Bessent, the US treasury secretary, and Kevin Warsh, the chair of the Federal Reserve, deliver their opening remarks at the G20 meetings in Asheville, North Carolina.

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On Wednesday, Trump officially signed a proclamation on Wednesday that suspends higher tariffs on 300,000 metric tons of foreign beef imports for 90 days. This comes after backlash to the proposal – designed to lower grocery costs for Americans in the run-up to the November midterms.

Several Republicans – in states with sizable cattle farming industries – have criticized the policy, saying it is a short term solution that will stymie ranchers’ ability to rebuild their herds.

Four leading livestock and agricultural organizations also wrote a letter to the president on Wednesday urging him to reverse course.

“Flooding the market with discounted foreign beef is not the way to rebuild the American cattle herd, strengthen food security, or lower grocery bills in a lasting way,” the groups wrote.

Donald Trump will begin his day in Washington, before traveling to Houston, Texas where he’ll headline a Republican National Commitee (RNC) fundraiser, and help boost Ken Paxton — the state’s attorney general and Republican nominee for Senate.

A reminder that Paxton beat long serving Senator John Cornyn in the GOP primary earlier this year after receiving Trump’s endorsement. Paxton is set to face Democratic state lawmaker James Talarico in November.

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A US military strike on an alleged drug trafficking boat in the Caribbean on Tuesday killed four people, officials said.

US Southern Command (SOUTHCOM) said in a post on X that the strike targeted a vessel “operating along established narco-trafficking routes in the Caribbean.”

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President Donald Trump posted an image of a map of the strait of Hormuz on his social media platform Truth Social, with a circle around the strait and the words “New US Territory” as the title on Tuesday morning.

This follows comments made on Friday at a speech at a police academy on Long Island, New York, where Trump said “After we finish defeating Iran, which is being very badly defeated, pretty soon I’ll be declaring the Hormuz strait a territory of the United States. … Essentially, that’s what it is. We have the blockade. No ships get through unless we want them to.”