U.S-India deal will be difficult, 7th Aug deadline / SODA off food stamps / Bessent out of FED race, decision time?

Stéphan
Aug 6
3 min read

Secretary RFK Jr. is now taking action to fully ban FOOD STAMPS from being used for obtaining SODA
Markets : India gets hit harder on tariffs again (''they're buying russian oil''), Pharmaceutical tariffs are no joke, MS chimes in, says recent jobs number revisions 4-5x larger than median absolute revision since 1979 (GS had comparison to 1968), Trump says Bessent took his name out of Fed chair race, four others in the running, decicion maybe before the week is over! ''in a week or so'' >>> Equity markets 'off highs' buit no more for now, 'shadow' FED chair could move USD and rates, tariffs 'war' continues, 7th Augus deadline coming up for a few, including Switzerland.
"I don't see a trade deal happening with America. We can keep up the pretense of talking. But India cannot surrender to Trump's whims and fancies. We must now figure out how to contain the damage," says former Finance Secretary Subhash Garg
U.S ISM >>> one of the lowest ISM employment gauge prints of the cycle
Trump: "We'll be putting an initially small tariffs on pharmaceuticals. But in one year, one in a half years maximum, it's gonna go to 150% and then it's gonna go to 250%, because we want pharmaceuticals made in our country."
Reuters: “China's biggest solar firms shed nearly one-third of their workforces last year, company filings show, as one of the industries hand-picked by Beijing to drive economic growth grapples with falling prices and steep losses.”
Trump: "I did something with Switzerland the other day. I spoke to their prime minster. The woman was nice but she didn't want to listen
The U.S may require foreign nationals from certain countries to pay $15'000 for visas
China Tests Renminbi Stablecoins in Hong Kong Amid Capital Outflow Fears
US adds OpenAI, Google, and Anthropic to list of approved AI vendors for federal agencies