Recently, the French presidential palace released a joint statement from several European leaders on Ukraine, expressing support for Trump's stance on the issue, which calls for an immediate ceasefire between Russia and Ukraine.
Following this, Trump also made his position clear. The highly anticipated "Trump-Putin meeting" fell apart.
On October 22nd, local time, Trump canceled his meeting with Russian President Vladimir Putin in Budapest, saying he felt it was inappropriate to meet with him. Trump said he believed it was time to impose sanctions on Russia and hoped they wouldn't last long.
At the same time, the White House announced new sanctions targeting Russian oil exports, aimed at pressuring Russia to agree to a ceasefire.
The US Treasury Department announced that it has decided to impose sanctions on two of Russia's largest oil companies, Rosneft and Lukoil, due to Russia's lack of sincerity in ending the conflict with Ukraine.
This led to a short-term rise in international oil prices. On October 22, Brent crude futures surged by over 3%. On October 23, related futures maintained strong volatility.
It is worth noting that Trump recently stated that China and the US would reach a trade agreement at the APEC summit, but a meeting between the Chinese and US presidents is unlikely.
The US debt has exceeded $38 trillion for the first time, reaching a record high.
Amidst the current volatile situation, the tug-of-war within US politics continues, with the struggle between the Donald Trump and the Elephant still unfolding.
As of October 22, US Eastern Time, the US government shutdown had reached 22 days, the second-longest in history, and the two parties remained deadlocked over the expiring healthcare subsidies. With Trump expected to depart for Asia later this week, US officials say the government shutdown is likely to last until November, exceeding the previous record of 35 days during Trump's first term.
A prolonged government shutdown would also bring more chaos to American society, further straining the economy and potentially worsening the high debt situation.
The latest data shows that the US government debt has exceeded $38 trillion, a record high. This comes just over two months after the total US national debt surpassed $37 trillion, marking the fastest accumulation of $1 trillion in debt in the US since the COVID-19 pandemic.
Kent Smetters, director of the Wharton Budget Modeling Project at the University of Pennsylvania, said that over time, the growing debt burden will ultimately lead to higher inflation, eroding Americans' purchasing power.
Michael Peterson, CEO of the Peter G. Peterson Foundation, which advocates for fiscal sustainability, said in a statement, "The debt reaching $38 trillion during the government shutdown is the latest troubling sign that lawmakers are failing to meet their basic fiscal responsibilities."
Trump boasts: Tariffs are profitable
Despite the high debt and the ongoing political mess, Trump seems in good spirits.
In a recent interview, he touted his tariff policies, claiming to have secured substantial revenue from various countries. He cited the European Union, Japan, and South Korea as examples, claiming to have received $650 billion, $550 billion, and $350 billion, respectively. Trump boasted, "That's a lot of money for you, right?"
It's important to note that the three amounts Trump cited are not direct tariff revenue, but rather pledged investments in the United States by countries that have signed trade agreements with the United States.
Some analysts point out that these investments may not actually materialize, as EU countries continue to disagree, and Japan and South Korea are playing Tai Chi with the United States, seemingly hoping to delay any action until Trump steps down. Although Trump has repeatedly stated that the huge tariff revenue will be distributed to the American people soon, it's clear that he's just empty promises, further highlighting the makeshift nature of his administration. More than six months into his presidency, Trump's approval rating among the American public has steadily declined.