The Bulletin

• Canadian tariffs on US goods: Canada has imposed retaliatory tariffs on a wide range of American goods in response to the U.S. trade restrictions announced by Donald Trump on Saturday. Here are the US goods affected.

• USAID Chief of Staff resigns: Amid a wave of U.S. Agency for International Development (USAID) members being placed on leave, the agency's chief of staff Matt Hopson has resigned, according to Reuters. Know why.

• Grammy awards 2025: The 67th Grammy Awards took place in Los Angeles on February 2nd, with Beyoncé and Kendrick Lamar dominating the night, winning a combined eight awards. Here are the other big winners.

• Will Pete Hegseth survive Trump's whole term? Secretary of Defense Pete Hegseth clinched his nomination with a tiebreaking vote from Vice President JD Vance after some Senate Republicans opposed the former Fox host and veteran. Experts weigh in on whether he will serve Trump's full term.

• US combat jets training: United States fighter jets have been conducting training exercises at a strategic island in the Western Pacific Ocean, where a World War II airfield is being reclaimed. Here's what we know.

• In the ongoing war in Ukraine, a Ukrainian drone attack targeted Russian fuel facilities in the regions of Volgograd and Astrakhan in the early hours of Monday morning, according to local media reports.

The rundown: Cryptocurrency markets suffered a sharp decline after President Donald Trump announced new tariffs on major U.S. trading partners on Saturday, triggering widespread economic concerns. Here's what it means for investors.

Why it matters: Trump's latest trade policy includes a 25 percent tariff on imports from Canada and Mexico and a 10 percent tariff on Chinese goods, reigniting concerns about a global trade war. Investors worry that these measures could drive up inflation, weaken consumer purchasing power and slow economic growth. The cryptocurrency market reacted strongly to the tariff announcement, with more than $2 billion in leveraged liquidations recorded within 24 hours. Bitcoin dropped below $100,000 before sliding further to $92,000, marking one of its steepest declines since early January.

Read more in-depth coverage:
Trump Says Anybody Against His Tariffs 'Controlled by China'

TL/DR: Trump framed the new tariffs as a strategic move to address border security and combat the opioid crisis, specifically citing fentanyl trafficking from Mexico and China as a key issue.

What happens now? Despite speculation about bitcoin's long-term gains, traders remain cautious because of ongoing market volatility. If bitcoin falls below $90,000, it could trigger further selling pressure, potentially pushing prices toward $80,000. While some investors see this as a buying opportunity, others warn that continued inflation concerns and Federal Reserve policies could make cryptocurrencies even more vulnerable in the short term.

Deeper reading Why Are Cryptocurrencies Crashing? Trump Tariffs Spook Markets

The rundown: Initial findings from an investigation into air crash in Washington D.C. that killed 67 people have raised further questions about how high the U.S. Army's helicopter and the regional plane were flying at the time of the fatal collision. Delve into it here.

Why it matters: Investigators said on Saturday evening that readings from the passenger jet at the time of impact showed it was flying at 325 feet, plus or minus 25. The FBI recovered the voice recorder in the cockpit and the flight data recorder from the aircraft on Thursday. However, a preliminary review of information seen by air traffic controllers in the tower at the airport showed the Black Hawk traveling at roughly 200 feet shortly before the accident, Todd Inman, a member of the National Transportation Safety Board (NTSB) investigating the crash, said during a media briefing. The discrepancy cannot yet be explained, he said. The investigator said there had been "internal debate" over releasing details on the altitude data to the public.

Read more in-depth coverage:
US Army Corps of Engineers to Remove Downed Jet From Potomac on Monday

TL/DR: Inman told reporters on Saturday evening showed "at one point very close to the impact, there was a slight change in pitch, an increase in pitch [of the jet]."

What happens now? The NTSB said it will publish a preliminary report within 30 days of the accident, summing up the first phase of the investigation. A full report will be published between one and two years after the collision.

Deeper reading Washington DC Plane Crash Data Raises Questions

The rundown: Elon Musk has said the U.S. Agency for International Development (USAID) will be shut down. Learn more.

Why it matters: Musk said during an X Spaces stream early on Monday discussing the work of the Department of Government efficiency (DOGE) that President Donald Trump "agreed" with him that the agency should be shut down. Musk, who formed DOGE with the Trump administration with the aim of finding ways to slash federal spending, claimed during the stream that USAID's work was "incredibly politically partisan" without offering evidence. The U.S. is by far the world's largest provider of humanitarian aid, with USAID administering billions of dollars in humanitarian, development and security assistance in more than 100 countries.

Read more in-depth coverage:
Republican Lawmaker Addresses Reports USAID Will Fold Into State Dept

TL/DR: Trump signed an executive order on his first day back in office imposing an unprecedented freeze on foreign assistance that shut down many of USAID's programs, saying his administration will review spending to ensure money is distributed in line with his "America First" foreign policy.

What happens now? Two senior aides to Senate Democrats said lawmakers and staff had been meeting on Sunday and would meet again on Monday to consider next steps, including legal action, Reuters reported.

Deeper reading USAID 'Shutting Down'—Elon Musk

The rundown: A car bomb explosion in the northern Syrian city of Manbij on Monday killed at least 15 people, mostly agricultural workers, and wounded dozens, according to local civil defense authorities and war monitors. Read more about the incident.

Why it matters: The explosion occurred on a main road on the outskirts of Manbij, targeting a vehicle transporting agricultural workers. The Syrian Civil Defense, also known as the White Helmets, reported that 14 women and one man were killed, with 15 others, all women, sustaining injuries, some in critical condition. The attack underscores the persistent instability in northern Syria, particularly in areas contested by various armed groups. No group has immediately claimed responsibility for the attack, but the bombing comes amid rising tensions in the region following increased conflict between Turkish-backed forces and the SDF. Monday's attack was the second deadly car bombing in Manbij in three days.

Read more in-depth coverage:
Calls for 'Political New Beginning' With Post-Assad Syria

TL/DR: Manbij is strategically located near the Turkish border, making it a key area of contention.

What happens now? Humanitarian organizations, including the White Helmets, are providing medical care to the injured and assisting victims' families.

Deeper reading Car Bomb Kills at Least 15 in Northern Syria, Dozens Injured

The rundown: Secretary of State Marco Rubio will appoint a critic of U.S. military funding for Ukraine and American foreign policy to a top State Department position, it has been reported, prompting speculation about what it means for Kyiv. Find out here.

Why it matters: Darren Beattie will take up the role of acting under secretary for public diplomacy and public affairs, according to Semafor and other news outlets. Beattie is an anti-establishment media figure who has led the right-wing news aggregator Revolver News. A critic of American foreign policy, including funding for Ukraine, his reported appointment has prompted social media users to voice concern about what it signifies for Ukraine's fight against Russian aggression. Days before Vladimir Putin's full-scale invasion, he wrote on February 21, 2022, that the "US gov't has been supporting Ukranian neo-nazi groups in its obsessive proxy war against Russia."

Read more in-depth coverage:
Russia Forming 'Walking Wounded' Assault Groups Amid Losses: UK

TL/DR: Outlets have focused on Beattie's past, which included being fired as a speech writer in 2018 after attending a conference with white nationalists, although he told the Washington Post that he was not racist.

What happens now? The role that Beattie is said to be filling oversees American public diplomacy abroad and the high-profile office of the department spokesperson in Washington. Semafor said it was unclear whether Beattie will be nominated to fill the role on a permanent basis, and ABC News reported that he had declined to comment.

Deeper reading What Darren Beattie Has Said About Russia and Ukraine War