The Morning Sixpack - July 31, 2025
Trump blasts Epstein files as hoax by Garland & Comey; tariffs hit Brazil; Hawley backs stock ban; ICE arrests Maine cop amid work authorization dispute; #Epstein
Inflation Just Got a Wake-Up Call—Tariffs Are Now Punching Prices Upward
Inflation surged in June by the biggest amount in four months, as the delayed sting of U.S. tariffs begins to bite consumers at the checkout.
The Federal Reserve’s favorite inflation gauge, the PCE index, climbed 0.3%, marking a noticeable uptick that raises eyebrows about the timing of any potential rate cuts this fall.
The core inflation rate, which strips out the usual noise of food and energy costs, also rose 0.3%, signaling that the inflationary pressure isn’t just a flash in the pan. The annual inflation rate crept up to 2.6%, inching further away from the Fed’s 2% target, while the core inflation held steady at 2.8%, but with prior months’ figures revised upward.
Normally, inflation at these levels might prompt the Fed to loosen the reins by cutting interest rates to boost borrowing and spending. However, with tariffs—the highest in decades—still filtering through the economy, Fed officials are choosing to hold off, wanting to see the full fallout before making a move.
Markets took this news in stride, with the Dow and S&P 500 set to open higher following new trade deals, while the 10-year Treasury yield dipped slightly.
But the bigger picture remains: tariff-induced inflation may be forcing the Fed to rethink its playbook. Rates are going to hold steady until the economy tanks OR Fed chairman Powell really fears for his job.
Source: MarketWatch - Inflation posts biggest rise in four months, PCE shows (gift article)
Trump Drops a Tariff Bombshell: 50% on Copper Pipes, Brazilian Goods, and More—Here’s What It Means
Brace yourself: President Trump just unleashed a flurry of tariffs hitting copper products, Brazil, South Korea, and even small overseas shipments.
With the August 1 deadline looming, he’s doubling down on his trade shakeup, but with some unexpected twists that reveal a mix of muscle flexing and strategic backpedaling.
The headline-grabber is a 50% tariff on copper pipes, wiring, and semi-finished copper products starting Friday—though surprisingly, it doesn’t cover copper ore or raw materials. That selective hit sent U.S. copper prices tumbling over 17% as markets scrambled to reprice the fallout. As one analyst put it, “Someone must have finally got through to Trump that the U.S. economy simply can't afford this new trade-hit.” So, it’s a win for manufacturers using copper but leaves the domestic copper mining industry, which desperately needs reforms, mostly hanging.
Brazil also got hit with a 50% tariff on most goods in retaliation over political disputes, though some sectors like aircraft and orange juice escaped the worst. Brazil’s Treasury Secretary called it “a more benign outcome than it could have been,” and shares in key Brazilian exporters actually rallied. Meanwhile, South Korea dodged a full tariff blast with a new trade deal that includes a $150 billion shipbuilding partnership to revive U.S. shipyards and a commitment to buy $100 billion in LNG and energy products.
And for the everyday online shopper? Trump axed the “de minimis” exemption, meaning small-value overseas packages under $800 now face tariffs starting August 29. That’s going to sting Amazon addicts and drop-shippers alike.
This tariff blitz shows Trump’s push to rewrite global trade isn’t just about pressure—it’s about reshaping alliances and industries, though with some unexpected pragmatism slipping in. If you ask me, it’s a game of chess, not checkers, and the markets are watching every move.
Source: Yahoo Finance - Trump imposes 50% tariff on copper pipes, Brazilian goods, and more
Trump Strikes Back at Brazil: Tariffs and Sanctions Target Bolsonaro’s Judicial Opponents
The Trump administration just slammed Brazil with a 50% tariff and sanctions on a top Supreme Court judge, turning up the heat over what it calls political persecution of former President Bolsonaro.
The sanctions zero in on Justice Alexandre de Moraes, accused by the U.S. Treasury of abusing judicial power to silence Bolsonaro and his allies through “oppressive censorship” and arbitrary detentions. Treasury Secretary Scott Bessent called de Moraes out for leading a “witch hunt” against political opponents, freezing his U.S. assets and investments under the Global Magnitsky Human Rights Accountability Act.
Trump’s tariffs and sanctions come on the heels of escalating tensions after Bolsonaro’s indictment in what Trump calls an “international disgrace” and “witch hunt” that should end immediately. The move also follows visa revocations for de Moraes and his family by Secretary of State Marco Rubio, emphasizing a hardline U.S. stance on foreign nationals who “censor protected expression.”
Not everyone in Brazil is on board. Left-wing politicians denounced the sanctions as an attack on Brazil’s sovereignty, vowing not to “accept external intimidation.” Meanwhile, Bolsonaro’s supporters hail the U.S. action as a crucial step to defend democracy and freedom.
Whether you see it as righteous pushback or meddling in a foreign judiciary, this Trump-era showdown puts trade and politics on a collision course, with free speech and diplomatic relations hanging in the balance. This isn’t just trade policy—it’s a direct challenge to Brazil’s judicial system, with real implications for free speech and international diplomacy.
Source: UPI - Treasury Department sanctions Brazilian judge Alexandre de Moraes
Maine Police Chief Demands Answers After ICE Arrests Federally Approved Officer
An Old Orchard Beach police reserve officer, legally authorized to work in the U.S., was arrested by ICE for allegedly overstaying his visa and attempting to buy a firearm—sparking calls for a federal investigation.
The town’s police chief is calling foul on the arrest, saying the Department of Homeland Security had verified Jon Luke Evans’ work authorization as recently as May, valid through 2030.
ICE claims Evans entered the U.S. legally in 2023 but overstayed his visa and admitted trying to purchase a firearm for his police duties, which triggered coordination with the ATF leading to his arrest. Yet the police chief insists the department followed all federal verification steps using the E-Verify system and only learned about the detention through an ICE news release.
The department is now launching an internal review to figure out how such a disconnect happened and how to avoid future compliance failures. This case highlights the messy overlap between local law enforcement hiring, federal immigration enforcement, and the complexities noncitizen officers face in states like Maine, which allow them limited law enforcement roles.
ICE’s Boston field director accused the police department of knowingly employing an illegal immigrant, a claim the chief strongly disputes given Evans passed all background, medical, and training requirements. This controversy unfolds against the backdrop of a busy summer season in this popular Maine resort town, where the demand for seasonal officers spikes.
This isn’t just a paperwork snafu—it’s a clear clash between local reality and federal enforcement that deserves a full investigation. Until then, trust is on the line for the department tasked with enforcing the law.
Source: AP News - Maine police officer arrested by ICE despite federal work authorization
Trump Throws Shade at Hawley After Bipartisan Push to Ban Congressional Stock Trading
President Trump is firing shots at Sen. Josh Hawley, calling him a “second-tier Senator” for backing a bipartisan bill that would ban stock trading by Congress—including the president and vice president.
This comes after the Honest Act sailed through a key Senate committee with Hawley teaming up with Democrats to push it forward despite GOP opposition.
Hawley’s bill aims to stop members of Congress from profiting off insider knowledge by banning them, plus the president, vice president, and their spouses, from buying or selling stock while in office. The legislation also demands divestment starting with the next term, conveniently shielding Trump from immediate effects.
Trump’s complaint isn’t just about the ban; he’s also upset that Hawley helped block a GOP amendment that would have probed stock trades of Nancy Pelosi and her husband—a frequent target in these discussions, even though Pelosi’s office denies she owns stocks personally.
Pelosi supports the bill, saying, “The American people deserve confidence that their elected leaders are serving the public interest — not their personal portfolios.” Meanwhile, some Republicans, like Sen. Ron Johnson, dismiss the effort as “legislative demagoguery,” claiming existing laws already cover insider trading.
Bottom line? Trump’s taking this personally, trying to rally his party while Hawley plays spoiler to the president’s wishes. It’s a clear sign that even within GOP ranks, things aren’t exactly harmonious when it comes to ethics reform and political power plays.
Source: AP News - Trump lashes out at Hawley over stock trading ban
Trump Claims His Name Was “Planted” in Epstein Files by Garland, Comey, and Biden
President Trump insists the Epstein files are a “hoax” manipulated by political enemies to target him, blaming former Attorney General Merrick Garland, ex-FBI Director James Comey, and President Biden.
Speaking from his Turnberry golf resort in Scotland, Trump said those files were controlled by “the worst scum on earth” and that if there were real dirt, it would have been released by now.
He also slammed the Steele dossier as “fake news,” suggesting phony information was deliberately slipped into the Epstein files to tarnish his reputation. “They can put things in the file that was a fake,” Trump claimed, doubling down on the narrative that this is all politically motivated.
But I thought the Epstein files didn’t have anything in them? Trump is a dumbass. And so are you—if you believe this horseshit.
When asked about the possibility of pardoning Ghislaine Maxwell, Epstein’s convicted trafficker, Trump reiterated he has the power to pardon her but said no one has asked and it would be “inappropriate” to discuss now.
Trump recounted how he kicked Epstein out of Mar-a-Lago after repeated breaches of trust, proudly stating, “I’m glad I did if you want to know the truth.” Despite his name appearing multiple times in released Epstein documents, Trump denies any wrongdoing and highlights that inclusion in the files doesn’t imply guilt.
Trump’s MO is clear: First deny it exists, then say he’s not in the Epstein files, then say this is a political witch hunt designed to undermine him by a cast of familiar characters. Whether you buy that or not, it’s a deflection strategy that keeps him front and center in the Epstein saga, which is hilarious because, by all accounts, Trump wants the Epstein story to go away.
Source: Newsweek - Donald Trump says his name was planted in Epstein files