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Trump triggers economic alarm bells as exports of an American staple crater: report

The Trump administration erroneously touted export numbers for an American staple while the real numbers spark concern, per a report. Reuters reported that the U.S. Department of Agriculture had to revise beef export sales and slash numbers by 90 percent compared to the incorrect number offered for a sales period ending in late June.The USDA touted in early July that the exporters sold more than 126,000 metric tons of U.S. beef to foreign buyers, but the real number turned out to be just over 12,000 metric tons. The error came as U.S. beef prices have reached record highs this year because of "tight cattle supplies" and demand, and beef exports have also continued to decline since 2022, Reuters reported. Although domestic demand for hamburgers and steaks is strong, the increased price and reduced production of beef are feeding the declining exports, Reuters noted."We're priced out of the world market to a certain extent," Austin Schroeder, a commodity analyst at Brugler Marketing & Management, told Reuters. "It wouldn't make a lot of sense for that big of an export number."The USDA also erroneously reported record sales of more than 38,000 metric tons of beef to Chile and more than 32,000 metric tons to Italy, according to Reuters, which noted neither of those countries is a major market for U.S. beef. The corrected figures revealed the U.S. actually sold 367 tons to Chile and 350 tons to Italy, and revised sales downward to 14 other countries as well, according to Reuters.The U.S. also has low domestic supplies of beef and has had to increase the amount of beef it imports, Reuters added. The beef industry was threatened by the outbreak of screwworm earlier this year, which led to the declaration of a state of disaster in Texas.

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JD Vance gets shot across the bow as Fox News calls for Trump to put in new negotiators

Knives were out for Vice President JD Vance — and coming from an unlikely ally, The Daily Beast reported Thursday.Fox News host Brian Kilmeade fired off a tough demand and called for the Vice President to be pulled from the Iran negotiations.“The one thing we need is a different negotiating team. If we go to negotiations and that’s a big if, this team can’t do it,” Kilmeade said.Vance has stumbled through two rounds of high-stakes talks — first in Pakistan, then Switzerland — and has appeared shaky on the details of the deal he helped broker. Instead, the Fox anchor argued that Vance and Special Envoy Steve Witkoff should turn their attention to Ukraine as pressure grows for the U.S. to reach an agreement amid escalating fighting this week. As the fragile truce has unraveled quickly, Tehran has struck back at American allies from Qatar to Jordan, and both sides are trading blame over who broke the ceasefire first.Kilmeade referred to current negotiators as "a waste of time," and claimed the Islamic Revolutionary Guard Corps has been "calling the shots." "We should demand different people," Kilmeade said. "The foreign minister is a waste of time, and the speaker is a waste of time. The IRGC is calling the shots. So, why are we pretending to talk to the other guys? Talk to the people who make the decisions. Knowing ahead of time that they’re not to be trusted."

Floridians bash Trump's 'patently absurd' airport vanity project: 'Do not like it at all'

Florida travelers did not mince words after Palm Beach International Airport was rebranded as the Donald J. Trump International Airport on Thursday.MS NOW interviewed several people at the Florida airport to get their reactions. "I think it's patently absurd that we're spending taxpayer money to rename an airport after a criminal that's sitting in the White House," one traveler said. "I think it's disgusting, ridiculous, pompous and a lot of other bad things," another person said. "I do not like it at all." "I resent that the name is on every institution that we have, this included," another traveler told MS NOW. "I resent that we have to have every institution in this country being named after Donald Trump."Palm Beach is home to Trump's Mar-a-Lago resort.Trump is the first president seeking to trademark an airport. The Trump Organization has filed for trademark rights to the airport. No other sitting president has named an airport or roadway after himself during his current term — most are named after former presidents once they have served their term, and in some cases, after they have died, MS NOW reported.

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'Art of the Deal' writer rocked by WSJ for poorly-worded clause that disintegrated pact

President Donald Trump may call himself the master of making a deal, but four Wall Street Journal writers think he stinks at writing them. The Journal on Thursday published a stern rebuke of Trump's memorandum of understanding with Iran, arguing a single "poorly worded clause" resulted in the battle for the Strait of Hormuz. "The root of the dispute is Paragraph 5, which says Iran will make arrangements to restore shipping through the strategic waterway and then work with Oman to determine how to administer it in the future," the report states. "But it also includes an Iranian pledge to ensure safe passage and remove military obstacles such as mines." The pledge became a problem because it was open to different interpretations by both sides as the war ramps up again, the Wall Street Journal reporters argued."Trump administration officials saw that clause as unlocking the strait, the main accomplishment of the president’s deal." they wrote. "Iranian hard-liners, however, have used it to push a maximalist interpretation that gives the Islamic Republic exclusive control over the waterway as a key source of leverage."Geopolitical analyst Michael Horowitz agreed with their assessment. "Washington has tried to convince Tehran that compliance would be more profitable, but this framing misses the point," he reportedly said. "Iran's behavior isn't driven by financial motives but by security concerns and bargaining leverage. It's a power dynamic."Now the U.S. faces tough times ahead in the struggle, according to the analysis"Tehran has also repeatedly asserted that it will work out arrangements for future management of the strait with its weaker neighbor across the waterway, Oman," the Journal report stated. "The difficulty coming to terms on opening the Strait of Hormuz points to rough negotiations ahead."

Furore in Nigeria over fake federal agency set up in government HQ

President orders investigation after fictitious body given funding, triggering renewed scrutiny of alleged corruptionA fictitious federal entity that was allocated 1.3bn naira (£700,000) in Nigeria’s 2026 budget has precipitated a political storm in Africa’s largest democracy in the run-up to a general election set for January.The fake agency came to light last October when Femi Gbajabiamila, the president’s chief of staff, wrote to the police alleging that his signature, along with official seals and reference numbers, had been forged by Adeniyi Adeyemi Matthew, who was claiming to have been appointed by the presidency to head the presidential foreign intervention promotion council (PFIPC). Continue reading...