🌎 Geopolitics 101: Trump's Dollar Warfare
Also, Aussies are stuck between two powers
Editorial Team
April 12, 2025
Mentioned in this edition: Claudia Sheinbaum, Giorgia Meloni, Donald Trump, Emmanuel Macron, Keir Starmer, Javier Milei, Nayib Bukele, Anthony Albanese, and more.
Good morning. When you think “weak dollar,” you might think it means something bad. But President Trump may not think so — in fact, his tariff plans might just be designed to lower its value. Plus, there are elections coming up in the Land Down Under with major implications for America and China.
WHAT WE'RE WATCHING
🇲🇽 Mexico’s president said she would refuse American requests to strike cartels. After NBC News reported that the Trump administration was considering drone-striking cartel operations, President Claudia Sheinbaum said she would “categorically reject any such actions.” However, Trump is reportedly considering unilateral action. Doing so could risk worsening America’s relations with its allies, and it’s unclear how the administration would keep civilian casualties low.
🇮🇹 Giorgia Meloni is meeting Trump without other European leaders. The Italian prime minister announced she will meet with President Donald Trump to discuss his now-paused tariffs. Her move triggered concern in Brussels that European unity may fragment under Trump’s tariff onslaught. Meloni, who has a good relationship with Trump, may be seeking to help Italy over prioritizing the rest of Europe.
🇰🇷 South Korea won’t work with China to oppose America’s tariffs. The country’s acting president, Han Duck-soo, said fighting America economically would not help the situation. Instead, South Korea — upon which Trump levied 25 percent tariffs — will seek to cut a deal. All seems to have started out well: Trump described a call with Han as “great.” Han’s comments are noteworthy given that the Chinese press falsely claimed that South Korea, Japan, and China would mutually respond to Trump’s tariffs.
🇪🇪 Estonia seized a secret Russian oil tanker. Russia has been operating a “dark fleet” since the start of oil sanctions, sending their oil exports illicitly around the globe. Finland captured a similar boat last December, and Estonia recently passed a law allowing the use of force against them. The Baltic Sea has increasingly been a bubbling hotspot and possibly even a source for military conflict, with Russian and Chinese ships being caught cutting undersea cables.
EUROPE
Mentioned behind the paywall: A prisoner swap, a new surveillance law, Emmanuel Macron, and Keir Starmer.
ASIA-PACIFIC
Mentioned behind the paywall: Lego, the Korean demilitarized zone, and a plan to house wounded Gazans.
MIDDLE EAST AND AFRICA
Mentioned behind the paywall: Parliamentary elections, Tesla, and deteriorating relations in Africa.
THE AMERICAS
Mentioned behind the paywall: New visa requirements, a $20 billion bailout, and an upcoming White House meeting with President Trump.
Australian voters are torn between two powers
What’s happening: China has become increasingly aggressive with Australia, notably holding live-fire drills off the country’s southeastern coast, far from China’s traditional sphere of operations, without telling the Australians in advance. They have also warned Australia not to attempt to buy back Chinese-owned ports, such as a crucial port in the Australia’s north…
Trump might need a weak dollar to crush China
WHAT’S HAPPENING
What’s happening: President Donald Trump’s tariffs have roiled global stock markets in the past couple weeks — but they’ve also had another effect: weakening the value of the United States dollar (USD). Some have put forward the idea that Trump sought to do this on purpose, as it could help to reset an economic playing field tilted toward China…
THE DAILY DEBATE
📊 Which of these poses a greater threat to the United States?Results will be in tomorrow's newsletter |
POLL RESULTS FROM YESTERDAY
Would you support President Trump raising taxes on the nation's highest earners?
🟩🟩🟩🟩🟩🟩 👍 Yes (527)
🟨🟨🟨🟨🟨⬜️ 👎 No (451)
🟨🟨🟨⬜️⬜️⬜️ 🤔 Unsure (262)
⬜️⬜️⬜️⬜️⬜️⬜️ 💬 Other (32)
👍 Yes: “I know that the "really rich" may pay their taxes, but they have more tax angles and tax loop holes than the average American.” — J.L.B.
👎 No: “Highest earners already pay the highest taxes. This is not what Trump was elected to do!” — J. Lacy
🤔 Unsure: “Depends on how much & I think we have to be careful not to punish taxpayers who are successful.” — Mary
💬 Other: “There should be a flat tax applied to everyone, with punitive penalties for non-compliance.” — M.N.
POP QUIZ
Why are some European officials uneasy about Giorgia Meloni’s meeting with Trump? |
Today’s newsletter was written by Anthony Constantini, Brandon Goldman, and Ari David. We scoured 100s of sources to bring you stories and insights you won’t find in the mainstream media.