U.S. defense bill. The House of Representatives passed a $900 billion defense funding bill yesterday and sent it to the Senate, where it is expected to be approved. The bill raises military pay, cuts diversity programming in the Pentagon, and puts new limits on the withdrawal of U.S. forces in Europe. It also establishes penalties if the Defense Department does not release footage to Congress of recent U.S. boat strikes in Latin America.
New model of health aid. The United States and Uganda signed a deal yesterday that sets up a new model for U.S. support to Uganda’s health system following the dismantling of the U.S. Agency for International Development (USAID) earlier this year. Washington will provide up to $1.7 billion in support while the responsibility for programs against diseases such as HIV/AIDS, malaria, and tuberculosis will gradually transition to the Ugandan government. Kenya and Rwanda signed similar deals with the United States in recent days.
New U.S. gold card. A U.S. government website began accepting applications for the Trump administration’s new gold card visa, which offers U.S. residency and an expedited pathway to citizenship for individuals paying $1 million and companies paying $2 million to sponsor an employee. Applicants would also owe a $15,000 fee. The administration also previewed a platinum card allowing people paying $5 million to stay up to 270 days per year in the United States without paying U.S. taxes on foreign income, though U.S. Commerce Secretary Howard Lutnick has said this would require congressional approval.
Warning from Danish intel. For the first time, Denmark’s defense intelligence service listed the United States as a potential security concern in its annual report, following bilateral tensions this year over Trump’s desire to acquire Greenland. While focusing more on threats posed by Russia and China, the report says the United States uses economic power to enforce its will and does not rule out the use of force against allies.
Argentina’s return to markets. Argentina sold $1 billion in dollar-denominated bonds on international markets yesterday, the first time it has done so since 2018. Argentine officials did not attempt such a sale in the interim years as they worked to overcome a domestic economic crisis. Buyer interest in the bonds yesterday was a positive signal for President Javier Milei’s pro-market overhaul of the Argentine economy.
Tensions in Yemen. The leader of Yemeni separatist group the Southern Transitional Council yesterday called on his group to seize control of the country’s capital following their recent takeover of eastern regions and oilfields. Separately, the U.S. State Department yesterday condemned the Houthi rebels’ ongoing detention of current and former staff of the U.S. Mission to Yemen, without providing details on how many Americans were detained, or since when. On Tuesday, the United Nations said the Houthis had also detained dozens of its local staffers.
Mexico’s new tariffs. Mexico’s legislature approved a bill yesterday authorizing up to 50 percent tariffs on goods from countries it doesn’t have a free trade deal with, the most significant of which is China. President Claudia Sheinbaum is expected to sign it into law. Washington has urged Mexico City to restrict Chinese goods entering the country, though Sheinbaum denies the move is due to U.S. pressure. China launched a probe into trade barriers from Mexico earlier this year, and a commerce ministry spokesperson said today that Beijing hopes Mexico City will reverse its measures as soon as possible.
EU raids at Temu. The European Commission carried out raids at the facilities of Chinese e-commerce giant Temu as part of a probe into whether the firm received unfair government subsidies, unnamed officials told the Financial Times. The Commission confirmed it carried out raids at an e-commerce company but did not name the firm. Temu did not immediately comment. European Union (EU) officials have used the bloc’s foreign subsidies regulation in recent years as concerns have risen about oversupply of Chinese exports hurting EU industries.
