aacj

July 17 2025

Senate cuts public broadcasting; Trump attacks Fed; Coke with cane sugar; China blocks ports deal; UAE chip deal delayed

Greg Loving

17 Jul 2025 • 5 min read

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Senate Votes to Cut $9B for Foreign Aid, NPR, PBS

Trump Escalates Attack on Fed Chair Over $2.5B Renovation

Trump Announces Coca-Cola Agrees to Make Cane Sugar Version in U.S.

China Threatens to Block $23B Ports Deal Unless State Firm Gets Stake

Trump-Backed Nvidia Chip Deal With U.A.E. Delayed Amid China Fears

1. Senate Votes to Cut $9B for Foreign Aid, NPR, PBS

The Senate early on Thursday morning approved a White House request to claw back $9 billion for foreign aid and public broadcasting, as Republicans bowed to President Trump in an unusual surrender of congressional spending power. The 51-to-48 vote came over the objections of two Republicans, who argued that their party was ceding Congress’s constitutional control over federal funding. The Republicans who opposed the measure were Senators Susan Collins of Maine and Lisa Murkowski of Alaska. The bulk of the funds targeted — about $8 billion — was for foreign assistance programs. The remaining $1.1 billion was for the Corporation for Public Broadcasting, which funds NPR and PBS. The House is expected to give final approval to the package later this week, sending it to Mr. Trump for his signature.

NYT

2. Trump Escalates Attack on Fed Chair Over $2.5B Renovation

President Trump on Wednesday continued his assault on Jerome H. Powell, the chair of the Federal Reserve, saying it was “highly unlikely” that he would fire him “unless he has to leave for fraud.” The warning shot related to Mr. Powell’s handling of a renovation of the Fed’s headquarters in Washington, involving a pair of buildings that are around 100 years old and undergoing a roughly $2.5 billion revamp. The president and his allies have seized on the project, which kicked off in 2021, as a potential avenue to fire Mr. Powell over allegations of mismanagement. But firing a Fed chair is a legally knotty endeavor and one that has not been tested in modern U.S. history. That’s because, under the Federal Reserve Act of 1913, the chair can be ousted only for “cause,” which is typically interpreted to mean malfeasance or gross misconduct.

NYT

3. Trump Announces Coca-Cola Agrees to Make Cane Sugar Version in U.S.

Mexican Coca-Cola, which is made with cane sugar, unlike the U.S. version sweetened with high-fructose corn syrup, has many fans — and American soda drinkers might soon have more options for getting their sweet cola fix. President Donald Trump on Wednesday wrote on Truth Social that he had been in touch with Coca-Cola executives, who he wrote had agreed to produce the nation’s top-selling soft drink domestically using cane sugar, as it is done south of the border. “I have been speaking to Coca-Cola about using REAL Cane Sugar in Coke in the United States, and they have agreed to do so,” Trump wrote. “I’d like to thank all of those in authority at Coca-Cola.” He put in a personal plug for the product, even though the president famously drinks Diet Coke, which is made with the sugar substitute aspartame. “This will be a very good move by them — You’ll see,” he wrote. “It’s just better!”

WaPo

4. China Threatens to Block $23B Ports Deal Unless State Firm Gets Stake

China’s government is threatening to block a deal that would transfer ownership of dozens of seaports to Western investors if Cosco, China’s largest shipping company, doesn’t get a stake. The proposed sale includes two ports at the Panama Canal and more than 40 others around the world, all owned by Hong Kong-based CK Hutchison. China is pushing for state-owned Cosco to be an equal partner and shareholder of the ports with BlackRock and Mediterranean Shipping Co., a containership operator, according to people familiar with the deal talks. BlackRock and MSC in March reached a preliminary agreement to buy the ports in a deal valued at nearly $23 billion. Now, BlackRock, MSC and Hutchison all are open to Cosco’s taking a stake, the people familiar with the talks said.

WSJ

5. Trump-Backed Nvidia Chip Deal With U.A.E. Delayed Amid China Fears

Some Trump administration officials are holding up efforts to finalize a landmark agreement that would open the door to the United Arab Emirates buying billions of dollars in Nvidia’s cutting-edge artificial-intelligence chips, due to national-security concerns. President Trump championed the agreement during a Middle East trip in May, and the sides hoped to work out the details quickly. Chip designer Nvidia looked forward to the sales. Yet the countries haven’t been able to hash out the specifics to date, in part because some U.S. officials have expressed concerns that China could get access to the cutting-edge U.S. technology, people familiar with the talks said. The disagreement might not be resolved unless the U.A.E. agrees to different terms to address the U.S. officials’ national-security concerns, the people said.

WSJ