Authored by Peter Jacobsen via TheDailyEconomy.org,

Perhaps the greatest example that good policymaking intentions go awry is the minimum wage. Proponents of increasing the minimum wage argue that doing so will help the poor. 

If we could snap our fingers and make the poor suddenly rich, there would be no reason to object. Unfortunately, in a world of scarce resources, this is not a possibility. The minimum wage actually tends to make many poor workers worse off and increases unemployment. A recent study on California minimum wage increases demonstrates that fact (yet again).

Professors Jeffrey Clemens, Jonathan Meer, and Olivia Edwards recently put out a working paper for the National Bureau of Economic Research (NBER) that demonstrates some adverse effects of minimum wage laws.

The paper covers California’s 2023 law, which enacted a $20 minimum wage for restaurants that had at least 60 locations in the US.

This was a significant increase from the fast food minimum wage for California, which had been $16 (though some localities had higher minimum wages). They examine the impact of the law on employment and find:

Fast food employment in California had declined by 2.64 percent, whereas employment in non-minimum-wage-intensive industries had increased by 0.58 percent. This contrasts with the rest of the United States, where fast food restaurant employment had increased marginally while employment in all non-minimum-wage-intensive industries had risen by one percent.

The authors estimate that the negative employment effect is anywhere from -2.3 to -3.9 percent, (as compared to all states, or just to states with no minimum wage changes). Relative to a world where California did not increase the minimum wage, 18,000 jobs were lost. 

This is a large number, but it’s even more jarring when you realize how limited this law change was. Again, this bill only applied to restaurants with over 60 locations, so many other low-wage jobs were exempted. Even within the restaurant industry, implementation was limited.

In other words, those 18,000 more unemployed workers were the victims of a relatively limited change. This large drop puts talks of a national “living wage” — often proposed as $15 or more — in serious doubt. California has a relatively high cost of living, which means all else being constant, a $20 minimum wage would have an even larger unemployment effect where average wages are lower.

This result is another nail in the coffin for minimum wage arguments.

As recently as 2022, a survey of research on the effects of the minimum wage was conducted. Authors David Neumark and Peter Shirley found, “there is a clear preponderance of negative estimates in the literature.”

What’s behind this consistent trend? Basic economics. When governments set a minimum wage above what businesses are paying, it has two primary effects:

1. An increase in the number of people who want to work (due to the higher wage)

2. A decrease in the number of workers businesses want to pay (as they are more expensive)

Imagine the prevailing wage in the restaurant industry is $15. Restaurants will have hired as many workers as they can use whose skills produce at least $15 of revenue per hour. After the new minimum is instituted, workers who produce less than $20 cost more than they add to revenue. Businesses cut back hours or substitute other factors (like self-checkout stations) for workers. 

When the number of job seekers is greater than the number of available jobs, we have unemployment. This is usually cured by job-seekers being willing to work for lower wages (and in a wide range of productive roles), but minimum wage laws make this illegal. 

So why, if the economic research and real-world results are so clear, do minimum wage laws persist?

Unfortunately, policies like the minimum wage, which sound compassionate, will often be popular even if they don’t work. 

Like voters, populist politicians — Democrat and Republican — may desire to improve the well-being of the poor, but the laws of economics and the attendant research confirm again and again that an increase in the minimum wage is terrible for the poor. For at least some — perhaps 18,000 in California — it takes away their opportunity to make any money at all.

Unfortunately, politicians have an incentive to ignore economic laws in favor of nice-sounding slogans about improving the lives of the least advantaged. Austrian economist Ludwig von Mises famously pointed out the role of the economist as an empirical counterweight: 

It is impossible to understand the history of economic thought if one does not pay attention to the fact that economics as such is a challenge to the conceit of those in power. An economist can never be a favorite of autocrats and demagogues. With them he is always the mischief-maker.

Economic evidence should serve as a valuable prophylactic against the utopian visions of politicians.

Having rendered much of Gaza uninhabitable and displacing a huge proportion of its population, Israeli Prime Minister Benjamin Netanyahu is expected to propose a plan by which Israel will begin claiming parts of Gaza to be Israeli territory, with an eye on eventually seizing all of it. The scheme — which is said to have President Trump’s backing though also certain to trigger international condemnation — is aimed at preventing his extremist ruling coalition from splintering, according to Israeli newspaper Haaretz, which first reported on it.  

Under the scheme, Israel will give Gaza political and militant group Hamas a short deadline for accepting a ceasefire. After Hamas refuses to accept Netanyahu’s terms (which will likely be written to guarantee refusal) Israel will start annexing portions of Gaza, starting with the buffer zone it has created along the perimeter of the territory, before proceeding to claim more land in the north. Eventually, all of Gaza will be claimed as Israeli land, fulfilling the wishes of extremist ministers who are vital to Netanyahu’s ruling coalition. 

One of those powerful coalition members is Finance Minister Bezalel Smotrich, leader of the Religious Zionism party, which seeks to move the Israeli state closer to a theocracy. Smotrich is himself a West Bank settler who has long agitated for the annexing of that territory. In May, Smotrich told a settler conference that “Gaza will be totally destroyed,” with all 2.3 million residents “concentrated” in the extreme south, where they will be “totally despairing” with “no hope” and “looking for relocation to begin a new life in other places.” 

Smotrich opposed Netanyahu’s decision — in the face of rising malnutrition and starvation in Gaza accompanied by growing global condemnation — to even slightly increase the flow of food and medicine into the besieged strip. So did another minister of note: Itamar Ben Gvir, who leads the National Security Ministry, called Netanyahu’s move “a capitulation to Hamas’s deceitful campaign,” and reiterated his demand that nothing at all be allowed to flow into Gaza, and for the IDF to conquer the territory and encourage the Palestinians to move to other countries. To get a sense of his extremism, consider that Ben Gvir infamously adorned his home with a photo of Baruch Goldstein, who mass-murdered 28 Muslims in the 1994 Cave of the Patriarchs massacre. 

Compounding the anger of Ben Gvir and Smotrich, Netanyahu made the decision to facilitate a small increase in aid flow (largely cosmetic) on Saturday — at a time when the two were supposedly unavailable for consultation because they both observe Shabbat. Ben Gvir called that an excuse for acting without him, saying, “I am available all Shabbat, 24/7, because I am the national security minister and receive updates all the time.” 

Netanyahu’s annexation scheme is designed to ease that latest political firestorm on his right, with particular focus on Smotrich, who reportedly told Netanyahu he will “remain in the government for the time being,” and will “judge by actions” as to whether the promised annexation of Gaza proceeds. 

“The Israelis don’t want us to film out of the [airplane] window at the devastation inside Gaza. But I’ve spent 10 minutes looking at it with my own eyes and I can tell you communities in the north of Gaza, that I knew well, are flat. There’s nothing left of them.” — Jeremy Bowen pic.twitter.com/hFBKTZSAir

— paulusthewoodgnome 🇺🇦 🦋 💂🏻‍♂️ (@woodgnomology) July 28, 2025

According to Haaretz, Netanyahu assured his ministers that the annexation plan has been presented to US Secretary of State Marco Rubio, and that the Trump administration supports it. Annexation could encourage more Western governments to recognize Palestine as a state. On Thursday, French President Macron announced that he intends to recognize Palestine at the September United Nations General Assembly, and Monday brought reports that British Prime Minister Keir Starmer has swiftly moved closer to making the same move, under pressure from his Labour Party and growing global consensus that Israel is committing genocide in Gaza. 

Update (0928ET):

President Trump was briefed about the lone shooter who stormed a Midtown office building and killed four people on Monday evening.

“I have been briefed on the tragic shooting that took place in Manhattan, a place that I know and love,” Trump wrote on Truth Social. 

The president continued, “I trust our Law Enforcement Agencies to get to the bottom of why this crazed lunatic committed such a senseless act of violence,” adding, “My heart is with the families of the four people who were killed, including the NYPD Officer, who made the ultimate sacrifice. God Bless the New York Police Department, and God Bless New York!

Earlier, New York City Mayor Eric Adams said law enforcement officers found a suicide note in the pocket of the now-deceased shooter, 27-year-old Shane Devon Tamura of Las Vegas.

Adams also posted on X that one of the victims was NYPD Officer Didarul Islam, a four-year veteran of the force and a married father of two young boys, with a third child on the way.

Police Officer Didarul Islam represented the very best of our department.

He was protecting New Yorkers from danger when his life was tragically cut short today.

We join in prayer during this time of incomprehensible pain. We will forever honor his legacy.#FidelisAdMortem pic.twitter.com/vkBZetsz2N

— NYPD NEWS (@NYPDnews) July 29, 2025

Officer Didarul Islam died as he lived, a hero and protector of New York City. We will never forget you. pic.twitter.com/vNYpjpNDTd

— Mayor Eric Adams (@NYCMayor) July 29, 2025

I’m on the way to the dignified transfer of fallen police officer Didarul Islam, who was killed in tonight’s senseless mass shooting in Midtown Manhattan. He put his life on the line for all of us and died a hero. He and his family are in my prayers tonight, and I’m praying for… pic.twitter.com/UMMZYjwfSi

— Mayor Eric Adams (@NYCMayor) July 29, 2025

The New York Post reported that among the four victims killed by Tamura was a Blackstone executive.

*   *   * 

The gunman who shot five people, killing four, in a Midtown Manhattan office tower home to Blackstone and the National Football League was identified late Monday as 27-year-old Shane Devon Tamura. He reportedly had grievances with the NFL but ended up on the wrong floor during the attack, ultimately killing himself on Rudin Management’s floor. 

Authorities say Tamura drove from Las Vegas to 345 Park Ave. in Manhattan. According to a CNN source, a suicide note was found in Tamura’s pocket expressing Chronic Traumatic Encephalopathy (CTE)-related struggles. One victim remains in critical condition, and an NFL employee was seriously injured. 

Here’s what CNN sources are saying:

• Shooter Identified: Shane Devon Tamura, 27, from Las Vegas, drove to New York and carried out a deadly shooting at a Midtown Manhattan office tower. He opened fire in the lobby, then continued shooting on the 33rd floor before fatally shooting himself in the chest.

• Mental Health & Motive: Tamura had a documented mental health history. A suicide note found in his pocket cited possible CTE-related struggles and grievances with the NFL, writing: “You can’t go against the NFL, they’ll squash you.” He asked for his brain to be studied. Tamura had played competitive football in his youth.

• The Attack: Tamura mistakenly arrived on the 33rd floor after following a woman into an elevator. The NFL’s offices, his apparent target, are located on the fifth floor.

• Weapon & Gear: He carried an AR-15-style rifle. Police also recovered a revolver, ammo, magazines, medication, and a rifle case from his vehicle. He had a Nevada concealed carry permit.

Latest headlines (courtesy of CNN): 

• Suspect’s calm walk-up to office tower suggests he knew he was going to die, retired NYPD captain says

• High school friend of gunman says he never caused problems, was a “great teammate”

• An NFL employee was seriously injured in the attack, says staff memo

• Officials pay respects to slain NYPD officer as his body is transferred from Manhattan hospital

• Park Avenue attack is the deadliest shooting in New York City in 25 years

A lot can be inferred from the setup of a rifle for a specific operation. Notably, Tamura used a knockoff Trijicon ACOG (Advanced Combat Optical Gunsight), which is designed for effective engagement out to 800 meters. Unless the shooter had an offset red dot sight (e.g., mounted at 45 degrees) for rapid target acquisition in close quarters, the optic choice suggests he wasn’t equipped for close-range combat—though that has not been confirmed.

Office workers at 345 Park Ave barricaded themselves to prevent the shooter from entering their floor. 

The shooter was found dead on the 33rd floor, which is Rudin Management’s floor. 

Alleged interview of Tamura when he was a football player in high school. 

This is Shane Tamura from high school football star to NYC shooter. Domestic terrorist coward.

Wow. pic.twitter.com/vooMSVTWql

— J (@JayTC53) July 29, 2025

. . . 

Home prices in America’s 20 largest cities fell for the 3rd straight month in May (the latest data available from S&P CoreLogic’s Case-Shiller data released this morning).

The 0.34% MoM drop matches the plunge in May and is equal to the largest drop since Dec 2022, dragging YoY price growth down to +2.79% (the weakest since Aug 2023)…

Source: Bloomberg

“National home prices were just 2.3% higher than a year ago, the smallest increase since July 2023, and nearly all of that gain occurred in the most recent six months,” said Nicholas Godec, S&P Dow Jones Indices.

” The spring market lifted prices modestly, but not enough to suggest sustained acceleration.”

Given the trend higher in (lagged) mortgage rates, the next couple of months do not bode well…

Source: Bloomberg

Home prices are now lower on a YoY basis in Denver, San Francisco, Dallas, and Tampa (-2.4% YoY)…

However, home price appreciation does seem to track very closely with bank reserves at The Fed (6mo lag), which implies prices are going continue to lag for the next couple of months before re-accelerating once again…

Source: Bloomberg

So 100bps of rate-cuts prompted a re-acceleration in home prices… and now prices are tumbling again as you pause… Well played Fed!!

The US merchandise-trade deficit shrank in June by more than expected, reflecting a broad decline in imports as the pre-tariff rush to secure goods unwinds.

The shortfall in goods trade narrowed 10.8% from the prior month to $86 billion…

Source: Bloomberg

This deficit was smaller than all economists’ forecasts…

Source: Bloomberg

Imports fell 4.2% to $264.2 billion, including the smallest value of inbound shipments of consumer goods since September 2020.

Imports of industrial supplies and motor vehicles also fell. US exports of merchandise decreased 0.6%.

Source: Bloomberg

In addition to the merchandise-trade data, the latest advance economic indicators report showed retail inventories rose 0.3% last month, the most since September and reflecting a surge at car dealers. Stockpiles at wholesalers climbed 0.2%.

More complete June trade figures that include the balance on the services account are due Aug. 5, but for now, this seems like a win for President Trump.

Authored by Aldgra Fredly via The Epoch Times,

The Department of Justice (DOJ) on Monday filed a misconduct complaint against District Court Chief Judge James Boasberg, the judge presiding over a case against the Trump administration’s deportation of Venezuelan illegal immigrants to El Salvador in March.

Attorney General Pam Bondi stated on X. that she had directed the DOJ to file the complaint against Boasberg, alleging “improper public comments” made against President Donald Trump and his administration.

The complaint, filed by DOJ Chief of Staff Chad Mizelle on July 28, refers to comments made by Boasberg during a session of the Judicial Conference of the United States on March 11.

Boasberg has yet to respond publicly to the complaint. The Epoch Times has reached out to Boasberg’s chambers for comment and did not receive a response by publication time.

The DOJ alleged that Boasberg had “attempted to improperly influence” Chief Justice John Roberts and about two dozen other federal judges at the session by expressing his view that the Trump administration would “disregard rulings of federal courts” and trigger a “constitutional crisis.”

The DOJ accused Boasberg of breaching his judicial duties and claimed he attempted to sway judges at the session—whom it said were presiding over other cases involving Trump and his administration—by expressing his “preconceived belief” that the administration would violate court orders.

The complaint also references Boasberg’s March 15 ruling in a case involving Venezuelan illegal immigrants suspected of being members of the Tren de Aragua criminal gang—a U.S.-designated terrorist organization—who were deported to El Salvador under Trump’s proclamation invoking the Alien Enemies Act.

In that ruling, Boasberg halted the deportations and ordered the return of flights already en route to El Salvador. The order was later vacated by the Supreme Court.

“Throughout the proceedings, Judge Boasberg rushed the government through complex litigation, sometimes giving the Trump administration less than 48 hours to respond and threatening criminal-contempt proceedings and the appointment of an outside prosecutor against senior Trump administration officials for failing to comply with an order that had already been vacated,” it stated.

The DOJ stated that Boasberg’s actions warranted a formal investigation, saying they violated the judicial code of conduct and eroded public confidence in judicial neutrality.

The department also requested that Boasberg be taken off the deportation case and asked that the case be reassigned to another judge.

Hundreds of Venezuelan illegal immigrants were deported to El Salvador in March after Trump signed a proclamation on March 15 invoking the Alien Enemies Act, which noncitizens “with actual hostility against the United States” to be deported without legal process during wartime or invasion, despite an order from Boasberg that blocked the removal.

The White House has said that the deportation flights did not conflict with the judge’s order because the ruling was issued after the flights had already left U.S. territory.

Boasberg stated in June that the administration had “plainly deprived” the illegal immigrants of their right to seek habeas relief—or an opportunity to challenge their detention—before being deported from the United States.

Trump has previously called for the impeachment of Boasberg after the judge blocked his proclamation. But Supreme Court Chief Justice John Roberts rejected that call.

Via The Cradle

The Netherlands has, for the first time, included Israel on a list of states which pose a threat to its national security, according to a report from the Dutch National Coordinator for Security and Counterterrorism (NCTV) – the country’s main counterterrorism agency. 

The report bears the title Assessment of Threats from State Actors. It notes that Israel has made efforts to manipulate and influence public opinion and policy in the Netherlands, via disinformation campaigns. 

According to the Dutch report, an Israeli ministry circulated a document to journalists and officials in the Netherlands last year, which included personal details of Dutch citizens. 

This took place after fans of the Israeli football team Maccabi Tel Aviv carried out provocative acts after their team lost a match in Amsterdam in November 2024, triggering tension and clashes with locals. 

The report by the Dutch agency also noted concerns over threats against the International Criminal Court at The Hague, from both Washington and Tel Aviv. It said these threats could negatively affect the court’s work. 

Israel has long posed a threat to the ICC. According to a report by The Guardian from May last year, Tel Aviv has waged a years-long intimidation campaign against the ICC, which included the “stalking” and “threatening” of its officials in a bid to stifle investigations into Israeli war crimes.

Since the court issued arrest warrants against Israel’s premier and former defense minister last year, Washington has imposed sanctions on the ICC. Israel and the US are not signatories of the 1998 Rome Statute nor members of the ICC. 

The American Servicemembers’ Protection Act of 2002, nicknamed the “Hague Invasion Act,” authorizes a US president to use “all means necessary and appropriate” to free any US or allied personnel detained by the ICC. This includes the potential use of military force. The law also restricts US cooperation with and support for the ICC.

The Dutch Assessment of Threats from State Actors notes that the Netherlands has a “special responsibility” to protect the operations of the international legal institutions it hosts. 

While the NCTV has previously listed Israeli spyware as a concern, this latest report does not include Israel in its espionage section. 

Israeli spyware has infected the devices of millions across the planet, including journalists and activists. It has also been used as a tool for targeted assassinations. 

From Coastal Australia to the turquoise waters of Fiji, billionaires have snapped up private islands as the ultimate status symbols.

The graphic below, by Made Visual Daily, compares the acreage and sticker prices of some of the best-known billionaire islands, revealing just how uneven the market is.

Why Size Isn’t Everything

Island valuations depend on far more than acreage alone. Proximity to major airports, protected harbors, and existing resort infrastructure can drive prices exponentially higher. Bell Island’s $100 million price tag for just 349 acres reflects its prime location in the Exumas archipelago in The Bahamas, a renowned luxury-yacht destination with established high-end amenities.

The location premium becomes clear when comparing cost per acre: Bell Island costs roughly 87 times more per acre than Lānaʻi, demonstrating that exclusivity and accessibility often outweigh sheer size in determining value.

The Tech Billionaire Land-Grab

Technology entrepreneurs have emerged as dominant players in the private island market. There are a few reasons behind this trend:

1. Unprecedented wealth accumulation: The tech boom has created liquidity that enables nine-figure recreational purchases previously reserved for oil barons and industrial magnates.

2. Remote work capabilities: Modern satellite communications and digital infrastructure allow tech leaders to maintain business operations from virtually anywhere, making isolated islands viable as working retreats.

3. Privacy and security concerns: High-profile tech executives increasingly seek refuges from public scrutiny and potential security threats, with private islands offering unparalleled isolation and control.

Cost per Acre: The Luxury Premium

The private island market reveals stark disparities in pricing based on location and amenities. Ellison’s $300 million acquisition of 98% of Lānaʻi in 2012 included not just land but two Four Seasons resorts, championship golf courses, and existing infrastructure serving the island’s 3,000 residents.

In contrast, smaller Caribbean properties like the Aga Khan’s Bell Island purchase command premium prices due to their proximity to established luxury tourism circuits and superior accessibility via private aircraft and superyachts.

This market segmentation suggests that beyond a certain size threshold, factors like location, climate, and existing development become the primary value drivers rather than raw acreage.

What are the world’s most populated islands? Find out with this post on the Voronoi App.

Authored by Owen Evans via The Epoch Times (emphasis ours),

Downloads of virtual private network (VPN) apps have surged in the UK as users look for ways to bypass new age verification rules introduced after the latest provisions of the Online Safety Act took effect on July 25.

The rules require online platforms to implement strict age checks to shield children from content deemed harmful, including bullying, pornography, self-harm, and hateful content.

They effectively mean that all adult internet users in the UK must prove they are not children to access certain websites.

Rather than upload their ID or have their faces scanned, users are moving towards VPNs.

A VPN allows users to establish a secure and encrypted connection over the internet. They effectively mask Internet Protocol (IP) addresses and anonymize online presences, making it more difficult for websites, advertisers, and government agencies to track a user’s activities.

On July 25, ProtonVPN said on X it was experiencing a surge in sign-ups from UK users.

“Just a few minutes after the Online Safety Act went into effect last night, Proton VPN signups originating in the UK surged by more than 1,400,” ProtonVPN stated. “Unlike previous surges, this one is sustained, and is significantly higher than when France lost access to adult content.”

Created by the former Conservative government as the world’s first comprehensive online safety law, the Online Safety Act received Royal Assent in October 2023.

The now-Labour government states on its website that platforms “have a legal duty to protect children online.”

Telecommunications regulator Ofcom said on July 25 that the most popular adult service providers, including Pornhub, along with thousands of smaller sites, have committed to deploying age checks across their services.

“This means it will be harder for children in the UK to access online porn than in any other OECD country,” it said, referring to Organisation for Economic Co-operation and Development member nations.

Ofcom also said that other online platforms have now announced they will deploy age assurance, including Bluesky, Discord, Grindr, and X.

News aggregation website Reddit said that, from July 14, a third-party provider called Persona will perform age verification for the social media platform either through an uploaded selfie or “a photo of your government ID,” such as a passport.

“Reddit will not have access to the uploaded photo, and Reddit will only store your verification status along with the birthdate you provided so you won’t have to re-enter it each time you try to access restricted content,” it said.

The Age Verification Providers Association lists several approved methods for age checks, including mobile phone account verification, credit database matching, transactional records, and digital ID apps.

Biometric age estimation can be done using facial or even voice blueprints, gestures, and keystrokes (how you type), though it is said that these methods are currently less well-developed than facial analysis, but are progressing fast.

Ofcom said that it is now actively checking compliance.

If companies fail to comply with their new duties, Ofcom has the power to impose fines and, in very serious cases, apply for a court order to block the site or app in the UK.

Google Trends data showed that searches for VPNs in the UK quadrupled following the law’s implementation.

A recent petition to repeal the act has already gathered more than 350,000 signatures. Many of the top 10 free apps in the UK Apple Store are currently VPNs.

‘Unintended Effects’

Economist Maxwell Marlow told The Epoch Times that he believed that the rise in the use of VPNs is “indicative of how short-sighted, malicious, and authoritarian this Act is.”

“It seems members from all parties were taken in by the spiel of ’safety first,’ disregarding concerned critics and specialists, about how this legislation will only crush freedom of speech and association, and not protect a single vulnerable person,” he said by email.

“Young and old know what VPNs are, no matter if the government tries to prevent their usage, they are ubiquitous and will easily side-step the provisions in the law. The government should repeal this dreadful law,” Marlow said.

Conservative Peer Lord Daniel Moylan told The Epoch Times that during the passage of the Online Safety Act, he challenged the government over the “unintended effects of implementing blanket protections for children from harm.”

“The government was not keen to engage and, remarkably, expressed confidence in Ofcom to get these fine balances right,” he said via email.

“I’m not surprised that many people appear to be seeking to circumvent requirements to disclose personal details to often foreign websites with no proven track record of data security. Wasn’t this predictable? And how many of those doing so are in fact children?”

Moylan previously told NTD’s “British Thought Leaders” that while the intention to protect children is “laudable,” he doesn’t believe that seeking to “regulate the entire internet is a proportionate or effective answer to that particular problem.”

‘Not a Silver Bullet’

An Ofcom spokesman told The Epoch Times by email that some teenagers might bypass checks.

“Until now, kids could easily stumble across porn and other online content that’s harmful to them without even looking for it. Age checks will help prevent that. We’re now assessing compliance to make sure platforms have them in place, and companies that fall short should expect to face enforcement action,” the spokesperson said.

“But age checks are not a silver bullet, and some determined teenagers may get round them. Ultimately, this needs to work alongside education, awareness campaigns and through supportive conversations with trusted adults.”

VPNs are legal in the UK.

A government spokesman told The Epoch Times by email that platforms “have a clear responsibility to prevent children from bypassing safety protections.”

“This includes blocking content that promotes VPNs or other workarounds specifically aimed at young users,” he said.  “Where platforms deliberately target UK children and promote VPN use, they could face enforcement action, including significant financial penalties.”

Submitted by Thomas Kolbe

On Sunday, the United States and the European Union agreed on a new framework for transatlantic trade. The outcome exposes Europe’s open flank – its dependency on foreign energy.

It was a home game for U.S. President Donald Trump, albeit on foreign soil, as he and European Commission President Ursula von der Leyen stepped in front of the cameras at Trump’s golf resort in Turnberry, Scotland. In a visibly upbeat mood, Trump announced what he called “the greatest trade deal ever” between the U.S. and the European Union.

America Reshapes Global Trade

The framework agreement—still pending ratification by EU member states and the European Parliament—imposes a 15% tariff on most EU exports to the United States. That’s half the originally threatened 30%, but still far above historic norms.

In return, the EU commits to energy imports worth $750 billion over the next three years—including liquefied natural gas (LNG) and petroleum products. And then there’s the MAGA component: investment in the American heartland. A whopping $600 billion is to be mobilized from European industries and invested in the United States, with a strong focus on defense manufacturing. The message from Trump is clear: if Europe wants to keep fighting its proxy war in Ukraine, it will now have to pay for American weapons. Nothing comes free—not even Europe’s newly rediscovered belligerence, which the U.S. appears increasingly reluctant to subsidize.

For selected strategic goods—aircraft components, key chemicals, semiconductor equipment, and generic pharmaceuticals—a “zero-for-zero” rule will apply.

Europe Without Leverage

This clause rounds out the package, which von der Leyen, visibly exhausted, praised as delivering “security and predictability” for both sides. Not exactly false—but the deal starkly reveals the EU’s geopolitical decline. Europe has now been forced into the energy orbit of the United States. In the end, Brussels looks like a student dutifully copying the dictation of its transatlantic teacher.

The EU is not the first to swallow Washington’s bitter pill. Recent deals with Japan and the UK suggest the new normal for tariffs is somewhere between 15% and 25%. The price of accessing the world’s largest consumer market has now been made explicit.

A Great Deal—for America

From a U.S. perspective, this is a great deal. Hundreds of billions in capital will flow from Europe to America. Some of it will help Europe paper over its self-inflicted wounds—its energy crisis being one, after cutting ties with Russian gas and shutting down German nuclear power.

Trump has secured two outcomes. First, U.S. tariff revenues will continue to rise. Second, the president has scored another PR win for American industry—following up on his Middle East tour a month ago, where he clinched multi-trillion-dollar investment commitments for U.S.-based projects.

EU-Europe Stays the Course Toward the Wall

Trump is doing what any rational realpolitik leader should do—pursuing national interest through trade leverage. His foreign policy is essentially trade policy. His domestic economy is made more competitive through deregulation, tax incentives, and aggressive promotion abroad. That, dear Chancellor Friedrich Merz, is what’s called location competition—a challenge Germany and the EU might embrace rather than resist. It could be a moment to reconsider failed policies and return to economic reason.

But that didn’t happen. During negotiations, the EU’s entrenched interests won out—at the expense of ordinary citizens. Brussels could have used the talks to scrap entire catalogs of non-tariff trade barriers. Instead, nothing was touched. Climate regulations, the Digital Services Act, harmonization rules that deter foreign investment—all remain intact.

The EU’s hidden protectionism, the true power base of Brussels’ corporatist ambitions, remains untouched.

Short-Term Relief, Long-Term Price

For Germany, the deal offers some short-term relief—especially for carmakers, chemical producers, and machine builders. Strategic industries benefit from zero tariffs on high-tech goods like aircraft parts and specialty chemicals. That helped avoid a trade escalation that would have devastated Germany’s export-heavy economy. Chancellor Merz called it a “desperately needed signal of economic pragmatism.”

But this partial reprieve comes at a price. The punitive 50% tariffs on steel and aluminum remain—a crushing burden for German basic industries. This deal is no fair trade; it’s an asymmetric arrangement in which Washington selectively relieves and structurally dominates.

Lessons from the Deal

What’s being sold as a “trade deal” is, in truth, a geopolitical alignment. EU-Europe has maneuvered itself into a dead-end by burning its last diplomatic bridges with Moscow. Now, with 60% of its energy needs dependent on imports, Brussels finds itself tethered to U.S. energy dominance. And Trump has no intention of letting Europe’s green welfare utopia flourish at America’s expense. Energy comes at a cost—and Brussels is beginning to grasp the real price tag of its green transformation experiment.

That green experiment, like Europe’s resurgent militarism, will weigh heavily on public finances. It’s now up to the voters to push for a course correction—or sink ever deeper into the pit they’ve dug themselves.

The deal also has major implications for monetary policy. It forces the EU deeper into the energy-mercantilist world of the U.S., reinforcing the petrodollar system. The investment shift toward U.S. soil will help shore up the dollar’s role as king of fiat currencies. The dollar remains the unit of account. The euro wasn’t even mentioned.

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About the author: Thomas Kolbe, a German graduate economist, has worked for over 25 years as a journalist and media producer for clients from various industries and business associations. As a publicist, he focuses on economic processes and observes geopolitical events from the perspective of the capital markets. His publications follow a philosophy that focuses on the individual and their right to self-determination.