Trump and the Epstein Files Split the GOP
U.S. President Donald Trump reiterated that the Jeffrey Epstein case is “boring,” sparking an unusual rift within the Republican Party. House Speaker Mike Johnson has called on the Justice Department to release all related documents, while more than 20 GOP lawmakers demand an independent probe. Analysts warn the feud could dent party support ahead of the 2026 mid-terms. The dispute pushed the U.S. Dollar Index down 0.2 % as safe-haven demand ticked higher.
New 19 % Tariff on Indonesian Imports
Trump unveiled a 19 % duty on Indonesian goods, expanding his protectionist stance after slapping 30 % tariffs on Europe and Mexico. The U.S. trade deficit with Indonesia is roughly $18 billion a year, while the EU threatens €21 billion in counter-tariffs if the measures widen. The announcement briefly lifted the Dollar Index to 98.10 before gains faded and knocked European auto stocks 1.5 % lower. TD Securities estimates the broader tariff package could add 0.3 percentage point to U.S. inflation in 2025.
Los Angeles Protests Add Market Jitters
Protests continued in Los Angeles against ICE deportations, with National Guard units deployed and over 575 arrests in a week, according to city police. The unrest dragged the S&P 500 down 0.6 % on fears of broader disturbances. In FX, USD/JPY slipped to 147.05 as investors partially shifted to safe havens, while gold hit $3 345 an ounce—its highest in three weeks. Oxford Economics warns that combined political and tariff tensions may cap risk appetite until the next U.S. inflation data release.
