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What's 9 + 10?
Tariff totals jump to 21

TLDR
MARKET RECAP → Markets kept climbing Wednesday, as investors shrugged off Trump’s tariff threat. NVIDIA (NVDA) hit a record market cap, while Bitcoin (BTC) stayed resilient despite a weaker dollar. $BTC.X ( ▲ 2.47% )
TRUMP TARGETS 21 WITH TARIFFS → Trump doubled down on tariff threats, now targeting 21 countries with 20–40% rates starting August 1. Many are small U.S. trading partners, but the message is loud: trade deficits = tariffs, no exceptions.
SENATORS FACE CRYPTO SHOWDOWN → Crypto executives are calling for structured market regulation. The Senate is racing to finalize bipartisan frameworks by September, and the House is primed for a pivotal “Crypto Week” to align both chambers amid political pushback around conflicts of interest.
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POLL OF THE DAY
Which sector feels most undervalued right now? Investors are eyeing lagging sectors for potential upside in a volatile year. |
Politics
Trump Targets 21 With Tariffs

source DALL-E
Another Round of Tariff Letters: Trump sent new tariff warnings to seven more countries, bringing the total to 21. The latest batch, Philippines, Brunei, Moldova, Algeria, Iraq, Libya, and Sri Lanka, received letters via Truth Social screenshots, warning of steep tariffs starting August 1. Earlier letters went to the likes of Japan, South Korea, and Indonesia.
Tariff Ranges and Rationale: Tariffs will range from 20% to 40%, with vague flexibility based on U.S. relationships. Trump argues the moves are meant to address America’s trade deficits, despite the fact that some, like Moldova’s $85M deficit, are economically trivial. Critics argue this deficit obsession oversimplifies global trade dynamics.
Markets Brace for Aug. 1: These tariffs echo Trump’s chaotic “liberation day” tariffs from April, only now revived. That announcement triggered global market turmoil, which temporarily calmed after a 90-day pause. Trump has now signed an executive order locking in the new Aug. 1 start date, declaring, “No extensions will be granted.”
Crypto
Senators Face Crypto Showdown

source DALL-E
Industry Appeals for Certainty: At a July 9 Senate Banking Committee hearing, industry leaders including Ripple CEO Brad Garlinghouse argued that regulatory uncertainty has stifled innovation and investment in U.S. crypto markets. They urged lawmakers to define clear rules for commodity versus security classification, custody standards, and trading frameworks.
Politically Loaded Stakes: Sen. Tim Scott highlighted bipartisan momentum after the GENIUS stablecoin bill’s Senate passage, aiming for a September 30 deadline on stronger market structure legislation. Meanwhile, Sen. Elizabeth Warren criticized the absence of conflict of interest protections, particularly regarding President Trump’s crypto interests.
House Sets “Crypto Week”: As the House gears up for “Crypto Week,” it plans votes on the GENIUS stablecoin bill, the Clarity Act which allocates oversight authority between the SEC and CFTC, and the Anti-CBDC Surveillance State Act. These moves signal a broader push to create a U.S.-friendly regulatory environment.
KEEP READING
Linda Yaccarino steps down as CEO of Elon Musk’s X (CNBC)
Retailers log $7.9 billion in online sales in first 24 hours of Prime Day (CNBC)
OpenAI is launching its own AI-centric web browser very soon, per report (TechCrunch)
Global investors think Trump is bluffing on tariffs (Morning Brew)
The hiring process is a mess of robots (The Hustle)
How to Change Your Money Mindset: 9 Tips for Abundance Thinking (ML)
NOTABLE POSTS
BREAKING: Goldman Sachs now requires junior bankers to certify every 3 months that they haven’t accepted private equity offers
The move aims to curb aggressive poaching by buyout firms targeting analysts just months into the job, as on-cycle recruiting continues to accelerate
— Exec Sum (@exec_sum)
12:25 PM • Jul 9, 2025
Goldman Analysts getting called into their quarterly “loyalty pact” meeting
— High Yield Harry (@HighyieldHarry)
11:54 AM • Jul 9, 2025
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