Trump Suspends Military Aid to Ukraine

President Trump has ordered a temporary suspension of all U.S. military aid to Ukraine, affecting over $1 billion in arms and ammunition. The decision follows a tense meeting with Ukrainian President Volodymyr Zelensky and will remain in effect until Ukraine demonstrates a commitment to peace negotiations with Russia. The move puts the U.S. at odds with its NATO allies, who have pledged continued support for Ukraine. Analysts warn that a prolonged suspension could significantly weaken Ukraine’s military capabilities, particularly in advanced weaponry and air defense. European allies, including France, Britain, and Germany, have pledged increased support for Ukraine, but lack the stockpiles to fully replace U.S. aid.

Sources: The New York Times

25% Tariffs on Mexico and Canada to Take Effect Today

President Donald Trump announced that 25% tariffs on imports from Mexico and Canada would take effect starting Tuesday, citing efforts to curb fentanyl trafficking, illegal immigration, and trade imbalances. The decision, which also includes a 10% tariff on Canadian energy products, has rattled financial markets, with the S&P 500 dropping 2% in response. Canadian Prime Minister Justin Trudeau condemned the move and pledged retaliatory tariffs on $107 billion worth of U.S. goods. Mexico’s President Claudia Sheinbaum stated that her country had a response plan but waited for Trump’s final decision before acting. Businesses and economists warn that the tariffs could drive inflation higher, disrupt supply chains, and harm U.S. manufacturing. Meanwhile, Trump reaffirmed that tariffs on Chinese imports would double to 20% on the same day and hinted at further trade restrictions in April.

Sources: Associated Press

Senate Democrats Block Bill Banning Transgender Athletes in Women’s Sports

Senate Democrats voted unanimously to block the Republican-led Protection of Women and Girls in Sports Act, which sought to prohibit federally funded schools from allowing transgender athletes to compete in women’s sports. The bill, introduced by Sen. Tommy Tuberville (R-Ala.), failed to advance in a 51-45 vote, falling short of the required 60 votes. The legislation, which mirrors a previous executive order by President Trump, had already passed the House earlier this year. While Republicans view the issue as a crucial cultural battleground, Democrats dismissed it as a political distraction, arguing that it affects only a small number of athletes. Polls indicate broad public opposition to transgender participation in women’s sports, but Democrats argue that economic issues will remain the dominant focus in upcoming elections.

Sources: NBC News

TSMC to Invest $100 Billion in U.S. Chip Manufacturing, Expanding Arizona Facilities

Taiwan Semiconductor Manufacturing Company (TSMC) will invest an additional $100 billion to expand semiconductor production in the United States, President Donald Trump announced on Monday. The investment, which brings TSMC’s total U.S. commitment to $165 billion, will fund the construction of five new fabrication facilities in Arizona. The move aligns with Trump’s push to make the U.S. a global leader in artificial intelligence and semiconductor production, citing economic and national security concerns. TSMC, which supplies chips to major tech companies like Nvidia and Apple, has already secured a $6.6 billion subsidy from the U.S. Commerce Department. While Trump has previously criticized Taiwan for taking American chip manufacturing jobs, TSMC’s U.S. expansion signals continued collaboration between the company and the U.S. government.

Sources: CNBC

BYD Raises $5.59 Billion in Share Sale

Chinese electric vehicle giant BYD has raised $5.59 billion in a primary share sale in Hong Kong, marking the largest equity follow-on offering in the automotive sector globally over the past decade. The offering, which initially planned to sell 118 million shares, was expanded to 129.8 million due to strong demand. BYD priced the shares at HK$335.20 ($43.11) each, an 8% discount from its previous closing price, leading to a corresponding drop in its Hong Kong-listed stock on Tuesday. The United Arab Emirates-based Al-Futtaim Family Office was a key investor, signaling potential expansion into the Middle East. BYD, which sold over 4 million vehicles in 2024, continues its rapid growth, aiming for 5-6 million sales in 2025, competing with General Motors and Stellantis. The company will use the proceeds to fund R&D, global expansion, and general operations.

Sources: Reuters