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   White House names 40 countries in China tariff dodge
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   Plus: Trump hits imported drones with up to 100% tariffs, and Bessent threatens severe action on Iran
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         Friday, August 14, 2026
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          White House says China runs a global tariff-evasion network costing the US up to $26 billion a year
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          The Trump
administration released a report Thursday accusing China of systematically routing goods through more than 40 countries — including Mexico, Israel, Canada, Japan, South Korea, and members of the European Union — to dodge tariffs first imposed in 2018. The report, titled 'The Great Transshipment Scam,' describes what it calls a 'global Shadow Transshipment Network' in which Chinese exporters repackage, relabel, or minimally assemble products in third countries before shipping them to the U.S. at lower tariff rates. The White House estimates the 
practice costs between $19 billion and $26 billion in lost federal tax revenue annually. A separate Commerce Department analysis put total rerouted goods at roughly $67 billion.
         </p>
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          White House trade adviser Peter Navarro told reporters the scheme allows China to 'launder its exports.' The administration acknowledged that several named countries, including major U.S. trading partners in Europe and Asia, also conduct large volumes of legitimate trade.
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         <p style="margin:12px 0 0;">
          For businesses and investors, the 
report sets the stage for broader enforcement action and potential new tariffs or trade restrictions affecting supply chains that run through dozens of countries. Companies sourcing through third-country suppliers should expect heightened customs scrutiny in the months ahead.
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         Trade &amp; Tariffs
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          Court clears Trump to collect tariffs on sub-$800 imports, ending a long-standing exemption
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          A 
three-judge panel of the Court of International Trade ruled Aug. 13 that the Trump administration may collect tariffs on low-cost imports valued at $800 or less, overturning the longstanding 'de minimis' exemption that had shielded small packages — many shipped directly from Chinese e-commerce platforms — from duties. Trump estimated the policy would have generated $10.8 billion in 2024 had the exemption not been in place. The court held that the exemption was a privilege the president could revoke, even after the Supreme Court struck down his 
broader emergency tariffs under the International Emergency Economic Powers Act. The ruling poses an immediate cost threat to import-dependent online retailers and logistics businesses, particularly those built around high-volume, low-price goods from China, and signals that the administration retains meaningful tariff leverage even after the Supreme Court's broader ruling.
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          Trump imposes tariffs of up to 100% on imported drones, citing national security
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          President Trump signed an order imposing tariffs of up to 100% on imported 
drones, citing national security concerns. The move targets a sector where Chinese manufacturers hold dominant global market share and could significantly raise costs for commercial operators, agriculture, infrastructure inspection firms, and defense contractors that rely on foreign-made drone hardware. Domestic producers stand to benefit, but near-term supply disruptions are likely for industries that have not yet built out U.S.-sourced alternatives.
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          Australia's Albanese says AUKUS is 'full steam ahead' after Trump call, presses for full tariff exemption
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          Australian Prime Minister Anthony Albanese said Friday that the AUKUS defense pact remains on track after a phone call with President Trump, and that he had urged Trump to fully exempt Australia from all U.S. tariffs. Albanese said both leaders agreed the pact, under which Australia has committed A$368 billion over three decades and which will see U.S.-commanded Virginia-class submarines based in Australia from next year, continues to benefit all three partner nations. Trump agreed to consider the tariff exemption request, 
leaving a significant trade question unresolved for one of Washington's closest strategic allies.
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          Read more at Reuters ›
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          Paramount puts CNN on the table to salvage its $110 billion Warner Bros. deal
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          Paramount Skydance Chief Legal Officer Makan Delrahim said at Politico's California Agenda 
conference that a sale of CNN is 'on the table' as the company seeks to resolve a state antitrust lawsuit blocking its $110 billion acquisition of Warner Bros. Discovery. California Attorney General Rob Bonta and 11 other states sued to stop the deal, arguing it would raise prices and reduce competition. Offering to divest CNN — one of the most recognizable brands inside Warner Bros. Discovery — is the clearest signal yet that Paramount views closing the merger as worth surrendering its most prominent news asset.
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          Read more at The Charlotte Observer ›
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          White House report names 40-plus countries in Chinese tariff-evasion network
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          The White House on Thursday released a report accusing China of 
funneling goods through more than 40 countries — including Mexico, Israel, Canada, Japan, South Korea, and European Union members — to circumvent U.S. tariffs. The administration estimates the scheme costs $19 billion to $26 billion in annual federal revenue. Businesses that source goods through third-country suppliers should anticipate heightened customs scrutiny and potential new enforcement measures as the administration moves to close the loopholes it has identified.
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          Read more at Quartz ›
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          Federal judge approves Justice Dept. settlement clearing HPE's $14 billion Juniper Networks deal
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          A federal judge approved the Justice Department 
settlement allowing Hewlett Packard Enterprise to acquire Juniper Networks for $14 billion, overruling objections from attorneys general in 12 states and the District of Columbia who called the settlement ineffective and corrupt. Judge P. Casey Pitts of the U.S. District Court for the Northern District of California found that the states had not proved the agreement was against the public interest, though he noted the DOJ and companies should have disclosed more details of the settlement negotiations. The ruling is a win for the Trump 
administration and removes the last major legal barrier to the deal.
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         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at The New York Times ›
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         Iran &amp; Oil
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        <h3 style="margin:0 0 8px;font-family:Inter, Arial, sans-serif;font-size:24px;line-height:1.3;color:#17253d;text-align:left;">
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          Bessent promises unprecedented economic pressure on Iran as Strait of Hormuz talks stall
         </a>
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          Treasury Secretary Scott Bessent said Thursday the Trump administration will announce new economic measures against Iran next week, describing them as unlike anything seen 'in the history of the economic isolation of a country.' Bessent said President Trump has ordered the Treasury to apply maximum pressure on Tehran as ceasefire negotiations remain deadlocked and the U.S. maintains a naval blockade that has already cost Iran roughly $4.8 billion in oil revenue. He said the effort will combine further economic isolation with a
continued blockade of the Strait of Hormuz. For energy markets and global supply chains, the prospect of an indefinite blockade on a waterway that previously carried 20% of the world's oil supply represents a sustained source of price risk and geopolitical uncertainty.
         </p>
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         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read 
more at The Hill ›
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        <h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#17253d;text-align:left;">
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          Oil steadies near $87 a barrel after US signals indefinite Iran blockade
         </a>
        </h4>
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          Brent crude futures edged up to $87.16 a barrel Friday 
after the U.S. threatened to maintain its naval blockade of Iran indefinitely, reviving supply-side concerns a day after prices fell more than 2% on a weaker global demand outlook. WTI rose to $81.29. Both benchmarks remained on track for weekly gains of around 4%. Treasury Secretary Scott Bessent's pledge to unveil unprecedented economic measures against Iran next week reinforced concerns about prolonged disruptions to crude flows through the Strait of Hormuz, keeping energy markets on edge.
         </p>
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0;text-align:left;">
         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at Reuters ›
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        <h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#17253d;text-align:left;">
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          European stocks edge higher but head for a weekly loss as Iran tensions push oil up
         </a>
        </h4>
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         <p style="margin:0;">
          The STOXX 600 rose 0.05% Friday to 659.65, 
hovering near record levels but on pace for a modest weekly decline as stalled U.S.-Iran ceasefire talks and higher oil prices weighed on investor sentiment. Oil futures climbed 1% to $87.93 a barrel after the U.S. threatened an indefinite blockade of Iranian ports. Supporting the index was a robust earnings season, with aggregate STOXX 600 profits now forecast to grow 23.4%, led by energy and materials. Softer U.S. consumer and producer price data reinforced expectations the Federal Reserve may pause further rate hikes, offering some offset to
geopolitical headwinds.
         </p>
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        <div style="padding:8px 0 0;text-align:left;">
         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at Reuters ›
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        <h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#17253d;text-align:left;">
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          Iran-linked drone attacks hit two UAE tankers in the Strait of Hormuz
         </a>
        </h4>
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         <p style="margin:0;">
          Two tankers owned by Abu Dhabi's state oil company ADNOC were
struck by drones Thursday evening while transiting the Strait of Hormuz, the UAE said Friday, blaming Iran and calling the attacks acts of piracy. No casualties were reported and ADNOC said the situation was under control, but the incident underscores the continued threat to commercial shipping through the waterway — the corridor through which a fifth of the world's oil flowed before the conflict began — as Iran maintains a firm grip on passage through the strait.
         </p>
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        <div style="padding:8px 0 0;text-align:left;">
         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at San Francisco Chronicle ›
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        <h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#17253d;text-align:left;">
         <a style="color: #17253d; text-decoration: none;">
          US expands Iran diplomacy to Austria and Greece as traditional mediators stall
         </a>
        </h4>
        <div style="font-size:16px;line-height:1.6;color:#121721;text-align:left;">
         <p style="margin:0;">
          With Oman-, Pakistan-, Turkey-, and Qatar-mediated talks between Washington 
and Tehran making uneven progress, the Trump administration has quietly broadened its diplomatic outreach to Austria and Greece. Secretary of State Marco Rubio met with Austria's foreign minister Tuesday and called Greece's foreign minister Wednesday; both ministers then spoke Thursday with Iranian Foreign Minister Abbas Araghchi. The sequencing suggests the U.S. is testing new back-channel routes to break the negotiating logjam over the Strait of Hormuz conflict, widening the field of potential interlocutors as economic and military pressure 
on Iran intensifies.
         </p>
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        <div style="padding:8px 0 0;text-align:left;">
         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at Newsday ›
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         <a style="color: #17253d; text-decoration: none;">
          USS George Washington heads toward Middle East as Lincoln nears record deployment length
         </a>
        </h4>
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         <p style="margin:0;">
          The 
aircraft carrier USS George Washington departed Da Nang, Vietnam, last week and has been spotted crossing the Singapore Strait, heading toward the Middle East as the USS Abraham Lincoln surpasses 260 consecutive days at sea — a record-setting deployment supporting the U.S. war against Iran. Democratic lawmakers are pressing the Pentagon over reported mental health and supply problems aboard the Lincoln, which Defense Secretary Pete Hegseth called 'completely misrepresented.' With Hegseth saying the U.S. can sustain its Iranian port blockade 
'indefinitely,' carrier rotation signals a war posture with no near-term end in sight.
         </p>
        </div>
        <div style="padding:8px 0 0;text-align:left;">
         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at NPR ›
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         Regulation &amp; Markets
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        <h3 style="margin:0 0 8px;font-family:Inter, Arial, sans-serif;font-size:24px;line-height:1.3;color:#17253d;text-align:left;">
         <a style="color: #17253d; text-decoration: none;">
          SEC proposes relaxing pay-to-play rules that limit investment advisers' political giving
         </a>
        </h3>
        <div style="font-size:17px;line-height:1.6;color:#121721;text-align:left;">
         <p style="margin:0;">
          The 
SEC submitted a proposal to the White House on Wednesday to ease its 'pay-to-play' rule, which currently imposes a two-year ban on investment advisers collecting fees for managing public pension assets if the firm, key personnel, or an affiliated PAC donates to state or local political campaigns. The regulator said the current rule 'creates unnecessary compliance burdens and overly restricts investment advisors,' and is seeking public feedback on the proposed changes. The rule change is at an early stage, but if finalized it would meaningfully 
reshape the political and fundraising calculus for asset managers competing for the roughly $5 trillion in U.S. public pension mandates — and raise fresh conflict-of-interest concerns among pension beneficiaries and watchdog groups.
         </p>
        </div>
        <div style="padding:8px 0 0;text-align:left;">
         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at Reuters 
›
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        <h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#17253d;text-align:left;">
         <a style="color: #17253d; text-decoration: none;">
          Warren demands RFK Jr. disclose terms of TrumpRx drug pricing deals with pharma
         </a>
        </h4>
        <div style="font-size:16px;line-height:1.6;color:#121721;text-align:left;">
         <p style="margin:0;">
          Sen. Elizabeth Warren sent a letter to Health Secretary 
Robert F. Kennedy Jr. on Aug. 13 demanding he publicly release the terms of drug-pricing agreements with pharmaceutical companies that list medicines on TrumpRx, the administration's direct-to-consumer drug pricing website. Warren said Kennedy committed to releasing the details at an April Senate Finance Committee hearing but has not done so. The disclosure fight matters for investors: the administration has announced most-favored-nation deals with 17 large drug companies, but without published terms, it is impossible to assess whether the 
agreements structurally lower prices or primarily benefit the companies involved.
         </p>
        </div>
        <div style="padding:8px 0 0;text-align:left;">
         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at USA TODAY ›
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        <h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#17253d;text-align:left;">
         <a style="color: #17253d; text-decoration: none;">
          Postmaster General warns thousands of post offices could close without congressional action
         </a>
        </h4>
        <div style="font-size:16px;line-height:1.6;color:#121721;text-align:left;">
         <p style="margin:0;">
          Postmaster General David Steiner told 
the USPS Board of Governors that thousands of unprofitable post offices could close and prices could rise if Congress does not provide legislative changes and additional funding. Steiner said USPS would not act before the end of the holiday peak season but plans to submit a legislative proposal that addresses what he described as a 17-year imbalance between costs and revenue. For businesses that depend on last-mile delivery — especially in rural markets — a contraction of the postal network could force a costly shift to private 
carriers.
         </p>
        </div>
        <div style="padding:8px 0 0;text-align:left;">
         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at cleveland.com ›
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        <h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#17253d;text-align:left;">
         <a style="color: #17253d; text-decoration: none;">
          EPA sued for approving semiconductor chemicals despite its own finding of health risks
         </a>
        </h4>
        <div style="font-size:16px;line-height:1.6;color:#121721;text-align:left;">
         <p style="margin:0;">
          Environmental groups including the Sierra Club filed suit Friday 
challenging the EPA's approval of two unnamed chemicals for use in semiconductor manufacturing, alleging the agency green-lit the substances despite its own findings of reproductive, developmental, and acute health risks to workers and the public. The EPA acknowledged insufficient information to calculate exact risk levels but approved both chemicals anyway. The case adds regulatory and litigation risk to chipmakers and their suppliers at a moment when the U.S. semiconductor industry is expanding domestic production under heavy federal 
subsidy.
         </p>
        </div>
        <div style="padding:8px 0 0;text-align:left;">
         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at The Hill ›
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          NYC's pied-à-terre tax can proceed during court appeal after judge allows rollout to continue
         </a>
        </h4>
        <div style="font-size:16px;line-height:1.6;color:#121721;text-align:left;">
         <p style="margin:0;">
          An appellate judge ruled Thursday that New York City's pied-à-terre tax
on second homes above a certain value may continue its rollout while it faces a legal challenge, overriding a temporary restraining order issued by a Staten Island judge earlier in the week. The tax, a signature policy of Mayor Zohran Mamdani, has drawn opposition from President Trump, who called on the federal government to stop it. The ruling clears the city to proceed with notifying the roughly 17,000 homeowners identified as potentially subject to the surcharge, though litigation over the rollout process continues.
         </p>
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        <div style="padding:8px 0 0;text-align:left;">
         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at CNBC ›
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          Consumer sentiment drops 8% in early August, with the steepest fall among Republicans
         </a>
        </h4>
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          The University of Michigan's consumer sentiment index fell 8% in early August to 51, down
from 55.2 in July, snapping two months of improvement. The sharpest month-to-month decline was among self-identified Republicans, whose outlook is now 19% below pre-Iran-war readings and at its lowest since the 2024 election. One-year inflation expectations ticked up to 4.3%. Only 8% of respondents expect their income growth to outpace inflation in the coming year, down from 18% in December 2024 — a signal that consumers across demographics expect price pressures to persist, with direct implications for retail spending and business revenue 
forecasts.
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