Author

admin

Browsing

It can be tempting for investors to focus on specific assets or strategies when building an investment portfolio, but those taking a long-term approach will want to diversify in order to balance out potential portfolio instability.

Gold has a reputation for being a reliable diversifier because it can act as a hedge against various risks.

For those unfamiliar with the term, put simply, a hedge is an investment position whose main purpose is to offset potential losses or gains related to another asset. But how does that work, and what’s the best way to get exposure to gold as a hedge?

Read on for a look at how this strategy works and why it’s worth considering.

In this article

    Why use gold investments as a hedge?

    Gold is looked at as a hedge investment in many different situations. The first and most popular use of gold as a source of protection is as a hedge against the decline of a currency, typically the US dollar. When the dollar slips, the yellow metal not only becomes less expensive to hold, but also tends to rise in value.

    “Gold’s relationship with the dollar is determined by US-based gold supply and demand, as well as by the status of the dollar as the reserve currency globally,” states the World Gold Council. “Historically, a weak dollar tends to provide a stronger boost to gold’s performance than the drag created by a strong dollar.”

    By holding the precious metal as a diversification tool when the economy negatively affects currencies, investors can incur gains from the metal’s increased value.

    The second reason why gold makes a good hedge is that it can act as a defense against inflation. When the cost of living begins to rise, the stock market often falls. In those cases, investors with assets that are negatively affected by a volatile market need something to balance that out — that’s where gold comes in.

    Over the past 50 years, investors have seen gold make huge gains when the stock market is crumbling. As Investopedia points out, “This is because, when fiat currency loses its purchasing power to inflation, gold tends to be priced in those currency units and thus tends to arise along with everything else.”

    Interestingly, the yellow metal has also been used as a hedge against deflation, which happens when prices drop, the economy is in a downturn and excessive debt looms. This situation has not occurred since the Great Depression of the 1930s, and to a much smaller degree after the 2008 financial crisis.

    Market participants may decide to hoard cash in this type of scenario, and the safest place to hold cash is in gold. Again, while this situation is not commonplace, many investors keep the yellow metal in their portfolios on the off chance that another massive period of deflation will take place.

    Finally, gold can be used as a general portfolio hedge when market participants hold investments that are not related to one another. Since the precious metal generally has a negative correlation to stocks, bonds and other financial instruments, investors often diversify by creating a portfolio that combines gold with stocks and bonds in order to reduce both volatility and risk.

    While it is true that the yellow metal goes through times of volatility, it has always maintained its value over the long term, making it a steady addition to investors’ portfolios.

    Those who have decided to add gold to their portfolio as a hedge have a variety of options. Here’s an overview of three of the most popular ways of getting exposure to gold.

    1. How to use physical gold as a hedge

    Investors can get the most direct exposure to gold by buying physical gold, and holding the physical metal also adds diversification from digital assets. Physical gold can be purchased through government mints, private mints, precious metals dealers and even jewelry stores.

    Physical gold investors should generally focus on 0.999 fine items, as these will also be the easiest to sell. The majority of gold bullion products fit this description.

    One of the most common choices for investors are gold bullion coins, such as the South African Krugerrand or the Canadian Gold Maple Leaf, which are 0.999 fine. The American Gold Eagle is reputable and popular as well, but has a lower purity at 91.67 percent. Another option is gold rounds, which are similar to coins, but are not legal tender, making them often slightly cheaper.

    Gold bars are another popular option, and because they come in a variety of sizes, they can accommodate a range of investors. Large investments may best be made in bars since bigger sizes are available. Further, it is often easier to manage several large products than it is to manage an array of smaller gold items.

    When deciding on what to purchase, gold buyers will want to keep their plans for selling in mind. For example, large products may be more difficult and thus slower to sell, meaning it could be harder to take advantage of gold price movements or convert it to cash in an emergency. Individuals making ongoing or significant investments may therefore want to consider purchasing gold in various weights to give them versatility.

    Click here to learn more about physical gold as an investment.

    Click here to learn what moves the gold price and the highest price for gold is.

    2. How to use gold ETFs as a hedge

    One of the common ways investors add gold as a hedge is through investing in a gold exchange-traded fund (ETF), which trade on a stock exchange just like equities. There are several kinds of gold ETFs, offering exposure to different aspects of the gold market. Gold ETFs can offer investors access to gold price movements by holding physical gold or the gold futures market through holding futures contracts. There are also gold ETFs focused on gold mining stocks, providing a more stable alternative to investing in individual gold stocks.

    It is important to keep in mind that investors who own gold ETFs do not own any physical gold — even gold ETFs that track physical gold generally cannot be redeemed for it, with the exception of the Vaneck Merk Gold ETF (ARCA:OUNZ). Nonetheless, gold ETFs are a good option for getting exposure to the precious metal without personally trading physical gold, gold futures or gold stocks.

    Click here for a list of five biggest gold ETFs and more information on gold ETFs.

    Click here for a list of top ASX-listed gold ETFs.

    3. How to use gold futures as a hedge

    A futures contract is an agreement to buy or sell gold on a date in the future for a price determined when the contract is initiated. In a gold futures transaction, two parties agree on a price, the amount of gold being purchased and the future delivery month.

    The futures market is often referred to as an arena for paper trading. The bulk of the activity is just that, as metal is not actually exchanged and settlements are made in cash. It allows investors to buy or sell gold as they want without management fees, and taxes are split between short-term and long-term capital gains.

    In some cases, the futures market can be an arena for purchasing physical gold. However, obtaining gold through the futures market requires a large investment and involves a list of additional costs. The process can be complicated, cumbersome and lengthy, which is why actually buying physical gold through futures is considered best for highly experienced market participants.

    Click here to learn more about gold futures.

    Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.

    This post appeared first on investingnews.com

    The House Oversight Committee is setting its sights on insurance companies that may have discriminated against entities with right-wing views.

    The panel is also looking into whether retirees’ pension accounts were being used to invest in progressive policies they may not necessarily agree with, Fox News Digital has learned.

    ‘The Committee on Oversight and Government Reform is investigating improper restrictions on access to capital and capital markets of individuals and entities based on political viewpoints or involvement in certain industries (such as cryptocurrency, energy, and firearms),’ Committee Chairman James Comer, R-Ky., wrote to the National Association of Insurance Commissioners (NAIC).

    ‘The Committee has engaged with whistleblowers who had their insurance policies cancelled for widely-held political positions or for operating legal businesses considered out of favor by progressive activists.’

    The move is an expansion of the House Oversight Committee’s ongoing investigation into whether public financial institutions engaged in debanking against people and entities with right-wing views.

    Comer is also probing whether companies implementing progressive policies are doing so at the expense of millions of retired Americans’ personal investments.

    He wrote to Treasury Secretary Scott Bessent, in his capacity as acting commissioner of the Internal Revenue Service (IRS), that his panel ‘is investigating the prolific use of proxy proposals and other activism targeting corporate boards of directors by activists pursuing political agendas at the expense of the retirement and personal savings of Americans.’

    ‘Specifically, the Committee seeks to understand how giant investment managers and pension fund managers, aided by proxy advisory firms, sidestepped or abandoned their fiduciary duties to beneficiaries to pursue a political agenda and whether new legislation is needed to protect investors,’ Comer stated.

    ‘At a minimum, Americans deserve to fully know if their hard-earned savings are being used in a progressive playbook.’

    The letter accused certain large asset management firms like BlackRock of putting clients’ money into green energy initiatives, for example, rather than more profitable areas, in order to promote a left-wing agenda.

    BlackRock pushed back on such accusations in a public statement on its website, however.

    ‘One of the most critical tasks of an asset manager is to provide clients with insights on short- and long-term trends in the global economy that can impact their portfolios. We do this across all sectors – from healthcare to technology to energy,’ the company wrote.

    ‘Climate risk is one such trend given its implications for the economy. We believe that companies that better manage their exposure to climate risk and capitalize on opportunities will generate better long term financial outcomes.’

    BlackRock’s website also asserted that the ‘choice of where to invest ultimately rests with our clients.’

    ‘We are bound to adhere to their investment guidelines and objectives. We do not dictate particular investment strategies,’ it said.

    And on a broader scale, the committee looking into whether publicly-traded companies are running afoul of President Donald Trump’s executive order outlawing diversity, equity, and inclusion (DEI) practices by simply listing it under another name.

    ‘[T]he Committee remains concerned following reports of publicly traded companies intentionally camouflaging or rebranding diversity, equity, and inclusion (DEI) and environmental, social, and governance (ESG) policies to hide such discrimination from ‘the Trump Administration, courts or influential activists,” Comer wrote to several organizations opposing corporate discrimination, including the Alliance Defending Freedom. 

    ‘At minimum, shareholders and retirement plan beneficiaries deserve transparency around discriminatory practices employed by corporate directors and officers as such behavior is rebranded. Replacing DEI and ESG titles with ’employee engagement’ or ‘inclusion and impact’ represents yet another deceptive practice.’

    Trump’s order, signed in January 2025, barred financial institutions, major corporations, colleges and universities, law enforcement agencies and specific industries like medicine and commercial airlines from promoting or implementing DEI standards.

    Comer accused the previous White House of promoting discriminatory practices, however, in a statement to Fox News Digital.

    ‘The Oversight Committee is investigating discriminatory practices in the American financial system and the Biden Administration’s role in supporting them,’ he wrote. ‘Whether it is using the boardroom to achieve what the political left could not accomplish at the ballot box, or canceling Americans’ insurance policies and debanking them for their political views, these actions are wrong and deprive Americans of their constitutional rights.’

    Fox News Digital reached out to the IRS and NAIC for comment but did not immediately hear back.

    This post appeared first on FOX NEWS

    Jurors in Fort Pierce, Florida, began deliberations Tuesday in the federal criminal trial of Ryan Routh, the man accused of attempting to assassinate then-presidential candidate Donald Trump at his Palm Beach golf course last year.

    Routh, 59, faces five federal charges, including attempting to assassinate a major presidential candidate, assaulting a federal officer, and multiple firearms offenses. He has pleaded not guilty to all charges. If convicted, he could face life in prison.

    Prosecutors used their closing arguments Tuesday to emphasize both the digital and forensic evidence presented at trial and what they described as Routh’s clear intent: to kill Trump. 

    ‘This was not a publicity stunt,’ Assistant U.S. Attorney Christopher Browne told the jury. ‘The evidence has shown one thing and one thing only — the defendant wanted Donald Trump dead,’ Browne said, adding that the worst part was that he ‘almost got away’ with it.

    Browne told jurors that Routh ‘excessively’ stalked Trump’s locations and whereabouts in the weeks before the alleged assassination attempt on Sept. 15, 2024. 

    He noted that Routh allegedly traveled on 17 separate occasions to scope out the Trump International Golf Club in West Palm Beach. These were ‘reconnaissance’ missions, Browne argued.

    Browne reminded jurors that there were 19 rounds found in the magazine of the SKS rifle recovered at the scene, including one in the chamber. 

    There is ‘no doubt, no reasonable doubt, no doubt whatsoever that it was the man,’ Browne said, pointing at Routh, ‘who was hiding’ in the sniper’s nest. 

    Browne told jurors that his motives were also on clear display, pointing to lyrics from a rap song Routh wrote about killing Trump with a sniper rifle — one he penned after he was caught and arrested by the FBI. 

    ‘It’s not every case where the defendant writes down his intent on a piece of paper,’ Browne said.

    The prosecution spent most of its time Tuesday focusing on count one of the five federal criminal charges Routh is facing: Attempting to assassinate a major presidential candidate. 

    The contrast between Routh’s defense and federal prosecutors is a dynamic that has been on stark display throughout the trial. 

    Federal prosecutors spent roughly two weeks walking jurors through hundreds of exhibits and testimony from 38 witnesses to make their case against Routh.

    Prosecutors methodically built their case with cellphone data placing Routh at Trump International Golf Club in West Palm Beach, where they said he created a ‘sniper’s nest’ near the sixth hole. They also introduced bank records, burner phone purchases, and DNA evidence linking him to the SKS rifle recovered at the scene.

    Routh confirmed he understood and told Cannon he would not testify on his own behalf, despite her repeated offers for him to reconsider and consult with standby counsel.

    Fox News’ Samantha Daigle and Jennifer Johnson contributed to this report.

    This post appeared first on FOX NEWS

    President Donald Trump sharply criticized a wave of European nations that recently recognized a Palestinian state, warning that such moves reward Hamas and encourage continued conflict in Gaza.

    ‘As everyone knows, I have also been deeply engaged in seeking a cease-fire in Gaza. Have to get that done. You have to get it done,’ Trump said. 

    ‘Unfortunately, Hamas has repeatedly rejected reasonable offers to make peace. We can’t forget Oct. 7, can we? Now, as if to encourage continued conflict, some of this body is seeking to unilaterally recognize a Palestinian state… this would be a reward for these horrible atrocities, including Oct. 7.’

    His remarks came one day after French President Emmanuel Macron announced his nation would recognize a Palestinian state, hosting a meeting at the United Nations General Assembly along with Saudi Arabia on a two-state solution. 

    Several other longtime Israeli allies — the United Kingdom, Australia and Canada — did the same on Sunday, citing the ongoing humanitarian crisis in Gaza and expanding settlements and violence by settlers in the West Bank.

    The U.S. remains squarely on the side of Israel, and Trump said such recognition undermines efforts to free hostages held in Gaza and risks emboldening Hamas.

    ‘Even while they refuse to release the hostages or accept the cease-fire, instead of giving to Hamas and giving so much because they’ve taken so much, they have taken so much. This could have been solved so long ago,’ Trump said. ‘Instead of giving in to Hamas as ransom demands, those who want peace should be united with one message: release the hostages now. Just release the hostages.’

    Trump said he always knew the last 20 remaining hostages would be ‘the hardest’ to get back — but said the bodies of the deceased were just as important to reclaim.

    ‘Those parents came to me and they want them back… as though they were alive. They want them every bit as much as if their son or daughter were alive.’

    On Monday, France became the first major Western nuclear power and a permanent member of the U.N. Security Council from the G7 to formally recognize Palestine.

    Macron said: ‘The time has come to no longer talk about the existence of Israel — it’s self-evident. The time has come to do justice to the Palestinians, to recognize the state of Palestine.’

    ‘We must do this to save lives.’

    Meanwhile, Israeli Ambassador to the U.N. Danny Danon warned there will be ‘consequences’ for nations that recognize Palestine. 

    On Tuesday, Trump will hold a closed-door meeting with Arab leaders who are expected to implore him to urge Prime Minister Benjamin Netanyahu to do more to end the war in Gaza.

    Trump is expected to present his Middle Eastern counterparts with the U.S. outlook for peace and post-war governance in Gaza.

    This post appeared first on FOX NEWS

    French President Emmanuel Macron’s push for Palestinian statehood at the United Nations clashed sharply with Donald Trump’s message — but the two leaders’ rivalry also played out in the streets of New York in an unexpected way.

    At the UN General Assembly, Macron formally announced France’s recognition of a Palestinian state, insisting the move was ‘essential to peace.’ Trump, speaking today, blasted the recognition as a ‘reward’ for Hamas’s ‘horrible atrocities, including October 7,’ that would only prolong conflict.

    But away from the UN stage, the two presidents collided in an unusual moment when Macron was stopped at a crosswalk by New York police as Trump’s motorcade rolled through Manhattan. ‘Sorry President, everything is frozen, the motorcade moving now,’ one officer told him. Macron, visibly frustrated, replied, ‘If you don’t see it, let me cross.’

    With the road blocked, Macron picked up his phone and called President Trump directly. According to a video circulating online, the French president said: ‘Guess what, I’m waiting in the street because everything is frozen for you.’ Only after the call was the road eventually cleared.

    Macron then walked through the city for nearly half an hour, trailed by passersby who stopped him for selfies. One person planted a kiss on his head. Macron laughed off the encounter, saying, ‘It’s just a kiss, makes no harm.’

    France’s embassy in the U.S official X account leaned into the moment with humor: ‘It’s a good thing our presidents have each other on speed dial… If you’ve ever had to walk through NYC during UNGA, this is 110% relatable content.’

    This post appeared first on FOX NEWS

    House Minority Leader Hakeem Jeffries, D-N.Y., criticized recent remarks by President Donald Trump as ‘unhinged’ during a press conference on Tuesday, as the federal government lurches toward a potential shutdown at the end of this month.

    Jeffries held a media availability in his Brooklyn, New York district after Trump canceled a planned meeting with congressional Democrat leaders on the issue of government funding.

    Trump accused Democrats of making ‘unserious and ridiculous demands’ in their push for a compromise deal to avert a shutdown.

    ‘The statement that Donald Trump issued today was unhinged, and it related to issues that have nothing to do with the spending bill that is before the Congress, and the need to try to avoid a government shutdown,’ Jeffries said in response.

    He said at an earlier point, ‘Leader Schumer and I are ready to meet with anyone, anytime, at any place, to discuss the issues that matter to the American people and avoid a painful, Republican-caused government shutdown.’

    ‘Democrats do not support the partisan Republican spending bill because it continues to gut the healthcare of the American people,’ he added.

    Schumer held his own press conference later in the afternoon, where he charged ‘Today seems to be tantrum day for Donald Trump.’ 

    ‘Mr. President, do your job,’ he said. ‘Stop ranting, stop these long diatribes that mean nothing to anyone. Get people in a room and let’s hammer out a deal.’

    The House passed a short-term extension of fiscal year (FY) 2025’s government funding levels intended to keep federal agencies running through Nov. 21, in order to give Senate and House appropriators more time to reach a deal on FY 2026.

    If not passed by the Senate by the end of Sept. 30, Congress risks plunging the government into a partial shutdown.

    Democrats, infuriated by being sidelined in discussions on the bill, have been pushing for the inclusion of enhanced Affordable Care Act (ACA) subsidies that are set to expire at the end of 2025 without congressional action.

    During his press conference, Jeffries also appeared to reference Republicans’ ‘One Big, Beautiful Bill,’ conservative policy legislation that imposed new restrictions and work requirements on Medicaid coverage for certain able-bodied Americans.

    ‘Our top priority is to make sure that we cancel the cuts, lower the costs and save healthcare for the American people. That’s eight words – not difficult for Donald Trump to process. Cancel the cuts, lower the cost, save healthcare. Eight words,’ Jeffries said.

    ‘And we’ve been very clear that if Republicans want to go it alone, then go it alone and continue to do damage to the American people. But as House Democrats, partnered in lockstep with [Senate Minority Leader Chuck Schumer] and Senate Democrats, we are not going to participate in the Republican effort to continue to gut the healthcare of the American people. That’s immoral, and we want no part of it.’

    Jeffries and Schumer were set to meet with Trump on Thursday to discuss a path forward to avert a partial government shutdown.

    But Trump nixed the meeting in a lengthy post on his social media platform Truth Social, where he blasted the duo for pushing ‘radical Left policies that nobody voted for.’ 

    ‘I have decided that no meeting with their Congressional Leaders could possibly be productive,’ Trump said. 

    ‘They must do their job! Otherwise, it will just be another long and brutal slog through their radicalized quicksand. To the Leaders of the Democrat Party, the ball is in your court. I look forward to meeting with you when you become realistic about the things that our Country stands for. DO THE RIGHT THING!’ the president continued.

    The Senate already voted against moving forward with the House GOP stopgap bill on Friday.

    With 60 votes needed to proceed on the measure, at least some Democratic support will be needed to avert a shutdown.

    Fox News Digital reached out to the White House for a response to Jeffries’ comments.

    This post appeared first on FOX NEWS

    Former Vice President Kamala Harris detailed her running mate Tim Walz’s debate performance in her new book and recounted a showdown with then-Sen. JD Vance, which ultimately left her disappointed. 

    Harris writes in her new book, ‘107 Days,’ that she needed the Minnesota governor to be the ‘closer’ at the Oct. 1, 2024, debate given that she was not going to have another opportunity to debate Trump. But during the debate, she turned to her husband in frustration.

    ‘When Tim fell for it and started nodding and smiling at J.D.’s fake bipartisanship, I moaned to Doug, ‘What is happening?” Harris wrote, explaining how she believed Walz was duped by Vance’s ‘mild-mannered aw-shucks’ attitude. 

    ‘I told the television screen: ‘You’re not there to make friends with the guy who is attacking your running mate.’’

    Harris, who lamented that there was ‘more riding on Tim’s debate than there should have been,’ said that being the ‘closer’ and debating on such a large scale was ‘not a comfortable role’ for Walz. 

    ‘He had fretted from the outset that he wasn’t a good debater,’ Harris wrote. ‘I’d discounted his concerns. He was so quick and pithy in front of the crowds at our rallies, I thought he’d bring those qualities to the podium.’

    Harris referred to Vance as a ‘shape-shifter’ and said he ‘complained petulantly,’ along with more critiques of Walz. 

    ‘Tim fell into a pattern of defending his record as a governor,’ Harris wrote. ‘Then he fumbled his answer when the moderator, predictably, questioned why he had claimed to be in Hong Kong during the democracy protests in Tiananmen Square.’

    ‘Tim had been on his way to teach in China that summer but hadn’t yet left the United States on the date of the massacre. Instead of simply stating that he’d gotten his dates mixed up, but that being in China during a period of human rights oppression had profoundly influenced him, he talked about biking in Nebraska.’

    Harris mentioned a ‘Saturday Night Live’ skit after the debate that depicted Harris and her husband Doug watching the debate and spitting out wine in shock. Harris wrote that while she did not actually spit out wine while watching, ‘it was otherwise uncanny in its portrait of our evening.’

    ‘Tim felt bad that he hadn’t done better,’ Harris wrote. 

    ‘I reassured him that the election would not be won or lost on account of that debate, and in fact it had a negligible effect on our polling. In choosing Tim, I thought that as a second-term governor and twelve-year congressman he would know what he was getting into. In hindsight, how could anyone?’

    Harris wrote that she encouraged Walz to be ‘resilient’ during the campaign and suggested that he struggled with the ‘unfair’ attacks on his record and that it took a toll on his family. 

    ‘For the candidate, the family that is your source of strength can become your weakness in a presidential campaign,’ Harris wrote, adding that Tim was ‘outraged by the unfairness.’

    ‘When I was a newly elected DA, an elderly gentleman in Atlanta pulled me aside with a bit of advice: ‘Baby, you be sure and don’t make it look too easy,’’ Harris wrote. ‘He knew it was not. And the higher you rise in the political food chain, the harder it gets. This is not a genteel profession. You must be ready to brawl.’

    Harris also detailed in her book the decision process she used to ultimately choose Walz over Pennsylvania Gov. Josh Shapiro, Arizona Sen. Mark Kelly and former Transportation Secretary Pete Buttigieg.

    Harris made a point of noting that her senior staff ‘strongly favored Tim’ and that her godson, along with her sister and brother-in-law, also preferred Walz.

    ‘Doug and I went back and forth,’ Harris wrote. ‘He had known Josh longer and leaned that way. It was always going to have to be my decision. I told my staff and family that I didn’t want any more input, and I went to do something practical: I made a tasty rub and seasoned a pork roast. By the time I went to bed, I’d decided on Walz.’

    This post appeared first on FOX NEWS

    President Donald Trump drew laughs from world leaders within moments of taking the stage at the United Nations General Assembly on Tuesday.

    Trump joked about a broken escalator in the UN building as well as the broken teleprompters right in front of him.

    ‘Thank you very much, I very much appreciate it,’ he said to the applause as he took the stage.

    ‘And I don’t mind making this speech without a teleprompter because the teleprompter is not working,’ he said as the leaders laughed.

    ‘I feel very happy to be up here with you nevertheless, and that way you speak more from the heart. I can only say that whoever’s operating this teleprompter is in big trouble,’ he added, drawing more laughter.

    Trump again drew laughs later on by recounting his dissatisfaction with the UN’s assistance in global conflicts.

    ‘I ended seven wars, dealt with the leaders of these countries and never even received a phone call from the United Nations offering to help in finalizing the deal,’ Trump said. ‘All I got from the United Nations was an escalator that on the way up stopped right in the middle.’

    ‘If the first lady wasn’t in great shape she would’ve fallen. But she’s in great shape, we’re both in good shape. We both stood,’ he added, drawing more laughter.

    ‘These are the two things I got from the United Nations: a bad escalator and a bad teleprompter,’ he said.

    Throughout his speech, Trump hailed efforts for peace and warned European nations against continuing to tolerate illegal immigration. Trump also blasted the global climate change agenda as a ‘con job.’

    This post appeared first on FOX NEWS

    Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer met with Chinese Vice Premier He Lifeng and Commerce Minister Li Chenggang in Madrid last week. They announced a ‘framework agreement’ over TikTok, the Chinese-owned app used by millions of Americans. 

    But the story isn’t only about TikTok. It’s also about how America uses TikTok as a lever – and why that lever is more necessary than ever.

    TikTok is an important issue in and of itself: control over data, algorithmic influence, foreign ownership – all of which are critical for national security. In addition, however, TikTok is a tool the U.S. can and should use in ongoing trade engagement, as well as to counter China’s growing leverage in rare earths, critical minerals and semiconductors.

    When I served in President Donald Trump’s first administration (‘Trump 45’), the core issues we confronted included a massive trade imbalance, intellectual property theft, cyber-theft and China’s Belt and Road infrastructure expansion. These were predatory practices in trade, tech and finance. Today, in ‘Trump 47,’ the battlefront has broadened – but one thing that hasn’t changed is the psychological warfare the Chinese employ any time negotiations are underway.

    I was at the center of one of the most dramatic examples of this during Trump 45… 

    After an exhausting month of prep work, I boarded my flight to Beijing in March 2018 with wary optimism. I had worked intensively leading up to this trip, drafting a comprehensive framework document outlining a new trade deal with China, a proposal that would overhaul virtually every aspect of the U.S.-China economic relationship.

    We’d sent the proposal to our Chinese counterparts several days earlier, and now our high-level trade delegation was en route to Beijing to negotiate the largest change to trade relations in at least 10 years. The cast of characters illustrates just how significant this trade deal could be. It included Secretary Steven Mnuchin (head of the delegation), Under Secretary David Malpass and me (Treasury), Secretary Wilbur Ross (Commerce), U.S. Trade Representative Robert Lighthizer and several of his deputies, NEC Director Larry Kudlow, Under Secretary Ted McKinney (Agriculture), and Peter Navarro (special assistant to the president and director of trade and manufacturing policy).

    We arrived at the U.S. Embassy in Beijing with about an hour to review our plans one more time before we had to depart for Diaoyutai – the state guest house where Mao and every leader since has entertained foreign dignitaries. But there was a surprise waiting for us at our embassy:a brand-new proposal, drafted by the Chinese, which they were putting forth at the eleventh hour, and which we had never seen. It was about 15 pages long – and completely in Chinese!

    I was one of the few people in the room who could read it. After a quick scan, I told the group: ‘This is wholly unacceptable. This document doesn’t say anything – they’re just messing with us.’ A heated debate ensued over how to respond, and how the Chinese were likely to react. But there was no time to reach a consensus; it was time to leave for Diaoyutai.

    There was a mass exit from the secure room where we met at the embassy, and, almost like a well-choreographed ballet with a hundred moving parts, we all shuffled to our designated cars. As Secretary Mnuchin stepped into the limousine to take us to the meeting, Malpass insisted that I ride with the secretary and pushed me into the seat next to Mnuchin, saying, ‘We need to know exactly what this says – can you translate it on the way?’

    As we sped through the streets of Beijing, I sat in the back seat, literally shvitzing as a technical term in Chinese got the better of me, and furiously translated as I read out loud, in English, what the Chinese had dropped in our laps.

    Even as we climbed the stairs into the building and entered the meeting room, none of us was quite sure how Mnuchin was going to handle this hot potato. After Vice Premier Liu He’s flowing stream of diplomatic pleasantries welcoming us to China, the secretary calmly stated in response, ‘We received your draft. Thanks for sending it over – but we’re going to use our draft for today.’ It wasn’t the preamble they expected. But it was entirely consistent with the new tone that President Trump had set from the day he took office.

    Today, China has moved from using tariffs and IP theft to controlling choke points – especially in rare earth elements, critical minerals, semiconductors and advanced manufacturing capacity. The numbers are clear indicators of China’s leverage. 

    China accounts for about 70 % of global rare earth mining and about 90 % of the world’s rare earth refining and separation capacity. In 2023, China controlled 61 % of global mining of rare earth magnet elements and 92 % of refining capacity for those magnets. 

    On semiconductors: while U.S. companies remain strong in chip design and advanced R&D, China’s share of the semiconductor industry’s value-added has surged (from about 8 % in 2001 to over 30 % by 2016), and China is pushing aggressively to become self-sufficient in mature node production.

    These are not passive metrics. They are active levers China already uses in the trade negotiations through export restrictions, licensing controls or by threatening disruptions. For example, in April 2025 China – clearly in response to President Trump’s bold tariff moves – added export licenses and restrictions for seven heavy rare earth elements, including dysprosium, terbium, samarium, plus rare earth magnets—materials critical to EV motors, wind turbines, electronics and defense systems.

    The challenges faced in Trump’s first term have only evolved – not eased. The trade deficit is large, IP and tech theft are growing more dangerous, predatory development finance practices continue and China’s leverage in rare earths, semiconductors and control over supply chains threatens global development and American autonomy.

    TikTok is a headline issue impacting critical issues of data, influence and national security. But it is also an essential lever to counter the new pressure points China is pressing. Madrid and Friday’s Trump–Xi call offer a chance to reshape this broader contest. 

    As I demonstrate in ‘A Seat at the Table,’ President Trump’s strategy and policies during his first administration allowed us to exert maximum pressure on our counterparts and to stay the course with firm negotiating positions and clear red lines. Last week’s dialogues demonstrate that Trump will continue to insist on substance over symbolism, an approach critical to our national interest. 

    This post appeared first on FOX NEWS

    President Trump just fired a top federal prosecutor because he failed to bring charges against two despised opponents, New York Attorney General Letitia James and ex-FBI chief James Comey.

    The ouster of Erik Siebert, U.S. attorney for Virginia’s Eastern District — and Trump’s own appointee — came after he couldn’t find sufficient evidence to charge James with mortgage fraud.

    The president blamed the firing on Siebert having been put forward by two Democratic senators – hardly a secret – under the archaic ‘blue slip’ requirement that should be abolished.

    ‘Yeah, I want him out,’ Trump said after ABC broke the story. Tish James is ‘very guilty of something.’

    What’s more, ‘he didn’t quit, I fired him!’

    It’s a blip of a story, compared to Trump and his team naming a special prosecutor to again investigate Russiagate allegations from 2016; dropping corruption charges against New York’s Mayor Eric Adams, and suspending security clearances for the law firm that Robert Mueller left four years ago (later blocked by a judge).

    The larger point is that perhaps we’ve become inured to the serious spectacle of a president not just interfering with the Justice Department but literally dictating who should be charged and who should be protected.

    Trump told Pam Bondi over the weekend, ‘They impeached me twice, and indicted me (five times!), OVER NOTHING. JUSTICE MUST BE SERVED, NOW!!!’ 

    He said he believes James, Comey and Democratic Sen. Adam Schiff are ‘all guilty as hell’ but that nothing is being done.

    As someone who used to roam the halls of the Justice Department — and covered three independent counsels involving Ronald Reagan’s AG, Ed Meese — I am acutely aware of the ethical boundaries. 

    After the Watergate scandal, which included Attorney General John Mitchell going to prison, led to reforms, the idea of a wall between the White House and DOJ was further cemented. 

    Joe Biden saw any involvement in criminal probes as radioactive, and no evidence of his tampering has surfaced (though he did pardon a bunch of allies, including his son).

    There was a huge uproar back when Bill Clinton had a chance tarmac meeting with his AG, Loretta Lynch, while his wife was under investigation over her private email server. She said they talked about grandchildren and travel. A CBS reporter called the meeting ‘absolutely shocking.’ 

    But you don’t have to rely on unnamed sources to learn about Trump giving his attorney general marching orders. He broadcasts it, even boasts about it.

    Of course, Trump stretching his executive powers goes well beyond DOJ. There are his funding freezes against universities, dispatching of the National Guard in D.C. and elsewhere, and attempting to fire members of supposedly independent agencies such as the Federal Reserve.

    The escalation against the media has been nothing short of stunning. Trump cheered ABC’s suspension of Jimmy Kimmel against the backdrop of FCC Chairman Brendan Carr threatening to take action against its local licenses. ‘We can do this the easy way or the hard way,’ he said, prompting some conservatives to say he sounded like a mafioso.

    Trump won a $16 million settlement from ABC over George Stephanopoulos saying Trump had been held liable for ‘rape,’ not sexual abuse. He also won $16 million from CBS over the biased editing of a ’60 Minutes’ interview with Kamala Harris. 

    It just so happens that Nexstar, which preempted Kimmel and owns many CBS affiliates, needs administration approval to take over Tegna, another media conglomerate.

    Trump filed suit against the Wall Street Journal for reporting he’d sent a birthday message to Jeffrey Epstein with a silhouette of a naked woman–and when that surfaced with what closely resembled his signature, continued to deny he had done it.

    And then there is his $15 billion suit against the New York Times, which a judge threw out after just four days for its ‘inexcusable’ breaking of the rules in a filing filled with ‘vituperation.’ It’s a strange suit because it wasn’t triggered by any particular story, just a general charge that the Times campaign coverage was illegal, including a Harris endorsement that ran on the front page.

    Even the largest corporations have to spend big bucks to defend such suits, which is sort of the point.

    But nothing is as sensitive and powerful as law enforcement, whose officials can shield allies and prosecute opponents.

    The president’s position is that DOJ was weaponized against him during the Biden administration, and therefore he’s entitled to payback.

    The latest news just broke. The Justice Department was investigating border czar Tom Homan for allegedly offering to help win federal contracts to businessmen — who were actually undercover FBI agents — in exchange for $50,000.

    But as MSNBC reports, Trump’s DOJ dropped the case after he took office.
    Since the hidden-camera encounter took place before Trump was elected, when Homan was a private citizen, I could argue he was just doing what hundreds of lobbyists do. Except for one nagging detail — Homan took the 50K in cash, in a Cava fast-food bag. No paper trail.

    And yet Pam Bondi’s department gave him a pass.

    Prosecutors in every administration must make difficult judgment calls about whether they have enough evidence to convict, especially against government officials or high-profile figures. 

    And next time there’s a Democrat in the White House, what’s to stop that person from playing the same kind of hardball, saying their party was entitled to payback? The cycles could be endless.

    As for now, it would be easier to have confidence in these prosecution decisions if the president wasn’t openly calling the shots. 

    This post appeared first on FOX NEWS