The Bulletin
WORLD IN BRIEF
- Trump orders halt to new pennies: President Donald Trump has directed the Treasury Department to stop minting new pennies, citing the rising cost of producing the one-cent coin. Here's what he said.
- North Korea rejects denuclearization: North Korean leader Kim Jong Un has vowed to expand his country's nuclear arsenal while condemning the U.S. and its allies as a destabilizing force pushing the region toward war. Get more details.
- Japan tests fires new missile: Japan has test-launched a domestically developed ballistic missile in the United States, Tokyo said, amid the threats posed by China and North Korea. Find out more.
- Musk's Starlink featured in Super Bowl: Elon Musk's company, Starlink, appeared in a T-Mobile advertisement during the Super Bowl 2025. Know more.
- South Africans respond to Trump's offer: President Donald Trump signed an executive order on Friday promoting the resettlement of a portion of South Africa's white minority to the United States, but groups made it clear that they aren't going anywhere. Learn more.
- In the ongoing war in Ukraine, Russia has lost 850,000 troops and over 10,000 tanks, according to Ukraine's military, providing a staggering estimate of the toll nearly three years of grinding war has taken on the Russian military.
Trump Announces Tariffs on Steel, Aluminum Starting on Monday
The rundown: President Donald Trump announced on Sunday that he will implement tariffs of 25 percent on all steel and aluminum imports to the United States starting today. Know more.
Why it matters: Trump spoke with reporters on Air Force One and discussed a range of topics, including his announcement of the tariffs, The Associated Press reported. "Any steel coming into the United States is going to have a 25 percent tariff," he said, adding that he would announce reciprocal tariffs on Tuesday and Wednesday, but did not specify the level. Trump has made tariffs a centerpiece of his economic and foreign policy. The markets took a hit on Friday after Trump first revealed that he might impose reciprocal tariffs, causing stock prices to drop amid growing concerns of ever-escalating trade wars.
Read more in-depth coverage:
Trump Tariffs Could Nearly Triple Lumber Costs Raising Housing Concerns
TL/DR: Tariffs are taxes on imported goods, typically paid by the importing businesses, which can then pass costs onto consumers through higher prices.
What happens now? Countries will have a chance to respond to the tariffs over the next few days, especially once Trump implements his reciprocal tariffs. China's response with tariffs of its own might indicate that the U.S. will face an ever-escalating tariffs tit-for-tat for trade.
Deeper reading Donald Trump Announces Tariffs on Steel, Aluminum Starting on Monday
Looting Breaks Out in Philadelphia After Eagles Win Super Bowl
The rundown: Looting and vandalism has broken out on the streets of Philadelphia after the Eagles beat the Kansas City Chiefs 40-22 to win the Super Bowl. See the clips here.
Why it matters: A FreedomNews.TV video shows people throwing laundry out of a truck and cheering, with a row of law enforcement standing by. Another clip shows a large fire in the middle of the street, with police officers directing people to move away from it. Other officers on bicycles can be seen gathering as sirens sound in the background. In January, after the Eagles won the NFC championship game, there were more than 30 arrests, including some that were for assault on police officers. Teenage fan Tyler Sabapathy, 18, died from injuries sustained after falling from a street pole during celebrations.
Read more in-depth coverage:
Eagles Snap Chiefs Three-Peat History in Big Super Bowl LIX Win
TL/DR: An X account that usually shares updates on scanner activity in San Diego County started a specific thread for "scanner updates on the Eagles Celebration in Philly."
What happens now? Philadelphia Police have issued a public safety alert in the wake of the incidents. The full impacts of the looting, including how many people were arrested, the level of damage and whether anyone was hurt is yet to be seen.
Deeper reading Looting Breaks Out in Philadelphia After Eagles Win Super Bowl
The Borrowing Crisis Looming Over the Trump Presidency
The rundown: U.S. Treasury Secretary Scott Bessent said in an interview last week that he and President Donald Trump are eyeing 10-year Treasury yields as a way to cut borrowing costs for Americans, which remain high despite last year's interest-rate cuts. Learn more.
Why it matters: The 10-year Treasury yields, which impact medium and longterm rates, have risen over the past six months. At the end of August 2024, yields were hovering around 3.9 percent, lower than the 4.49 percent level they were hovering around Friday. Economists say that as long as these rates remain high, the cost of loans for purchases like homes, will also remain high, making it particularly difficult for those seeking to break into the housing market for the first time who do not benefit from the equity built up in a current home. These yields are influenced by a number of geopolitical and economic factors, with the policy of the Federal Reserve being a main driver.
Read more in-depth coverage:
Housing Market Predictions After Latest US Jobs Report
TL/DR: The Federal Reserve initiated a rate-cut cycle last year for the first time since March 2020, but 10-year Treasury yields have been rising since last year, chilling the impact of those cuts on mortgage rates for prospective homebuyers.
What happens now? The Trump administration is likely to continue implementing his conservative economic agenda over the coming months and years, and the full economic impact of those policies are yet to be seen.
Deeper reading The Borrowing Crisis Looming Over the Trump Presidency
Exclusive - Chinese Spy Balloon Was Packed With American Tech
The rundown: A Chinese spy balloon that crossed over the United States in 2023 was packed with American technology that could have enabled it to spy on Americans, according to two sources with direct knowledge of a technical analysis conducted by the U.S. military. Here's what we know.
Why it matters: The giant, white high-altitude balloon entered the United States via Alaska in January 2023 and floated across Canada and the American Midwest before being shot down on February 4. The balloon contained surveillance equipment and may have included launchable gliders for further data collection. Some of the technology, such as Iridium's satellite communication system, is commercially available and can be exported without a license. This highlights the failure of U.S. export control systems to prevent sensitive technologies from reaching adversaries like China.
Read more in-depth coverage:
Exclusive: How U.S. Forces and NASA could Inadvertently be Spying for China
TL/DR: The balloon is far from the only example of Western tech being used by adversaries against it and against allies.
What happens now? Experts point out that China's military is skilled at reverse engineering, making it crucial for the U.S. to improve its export controls.
Deeper reading Exclusive - Chinese Spy Balloon Was Packed With American Tech
Should Americans Pay for Insurance Risk in Disaster-Prone States?
The rundown: More frequent and more destructive natural disasters are shaking the foundation of the U.S. homeowners insurance systems, with coverage becoming more costly and harder to procure for millions of Americans. Learn how this crisis is unfolding.
Why it matters: States like California and Florida, prone to catastrophes, have seen insurers cut coverage to avoid enormous claims. Experts suggest a radical solution: centralizing insurance at the federal level—even if it's likely so unpopular that it would take a cross-states disaster to make it palatable. Since 1980, the U.S. has experienced 403 weather-related disasters, causing nearly $3 trillion in damages. Experts believe a national system could work, but only for catastrophic events with damages exceeding $5 billion or $10 billion. Past federal efforts, like the National Flood Insurance Program, have struggled with sustainability.
Read more in-depth coverage:
Where Insurance Premiums Are Rising Across US
TL/DR: A national system would help "soften the blow" to states that are exposed to extreme events like floods, wildfires, earthquakes, severe convective storms and hurricanes, according to Nyce.
What happens now? Experts believe a national system is likely to be introduced only after a cross-state disaster, such as a hurricane, generates widespread support
Deeper reading Should Americans Pay for Insurance Risk in Disaster-Prone States?
Florida Removes 1.3m People From Health Care Plan
Over one million Floridians have had their health insurance revoked as a result of a nationwide disenrollment from coverage that was previously safeguarded as part of the COVID-19 pandemic response.
Medicaid and Children's Health Insurance Program (CHIP) enrolment in Florida has fallen from 5.1 million to 3.8 million between March 2023 and October 2024, according to health care research non-profit the Kaiser Family Foundation (KFF).
Why It Matters
While some people may be re-enrolled, transition to employer-sponsored plans, or search for coverage in the wider healthcare marketplace, the decline poses a risk to Florida's most vulnerable populations and underscores challenges in effectively communicating healthcare policies to the public.
