Originally published at: https://peakprosperity.com/daily-digest/us-reaches-deal-with-china-resumes-snap-for-now-funds-coal-plan-modernization/
Economy
The White House has outlined a new U.S.-China trade agreement reached during the Asia-Pacific Economic Cooperation summit. The agreement includes commitments to halt exports of fentanyl precursors, lift Chinese export controls on critical minerals such as rare earths and graphite, roll back tariffs and countermeasures imposed since March 2025, and have China purchase 12 million metric tons of U.S. soybeans by year-end, with 25 million metric tons annually through 2028. The deal also addresses the Nexperia semiconductor issue by allowing resumption of exports from its Chinese facilities, which had contributed to strains on global auto supply chains, including halted production at plants such as Volkswagen’s in Germany, though critics note potential challenges in enforcing the commitments and unresolved issues like intellectual property rights.
Meanwhile, income growth for U.S. workers aged 25 to 54 has reportedly slowed to its lowest pace since the 2010s, excluding pandemic disruptions, according to an analysis from the JPMorgan Chase Institute. The institute attributes this to persistent inflation eroding nominal pay gains, with younger workers reportedly facing a weakening labor market, reduced career progression, and greater exposure to housing affordability issues. Federal Reserve officials have indicated expectations for interest rate cuts to address rising downside risks to employment, amid a government shutdown that has delayed official data and led to reliance on private sources. ADP reported a drop of 32,000 private payrolls in September, though some reports highlight resilience in overall employment rates and opportunities in sectors like technology and healthcare.
US Politics
The Trump administration is complying with a federal judge in Rhode Island, who issued an order ensuring Supplemental Nutrition Assistance Program benefits for November, with a Monday deadline for full payments to 42 million recipients or partial issuance by Wednesday. The ruling requires the use of $5.25 billion in contingency funds from fiscal years 2024 and 2025, despite USDA statements that $8.5 billion total is needed and resources are insufficient, citing legal precedents including guidance from the Trump administration on shutdown lapses. A separate ruling in Boston deemed the suspension unlawful, amid some criticism that the administration’s handling of funding during the shutdown was inadequate.
Reports indicate continued escalation in attacks on Immigration and Customs Enforcement agents. In Ontario, California, a 24-year-old man was shot after he reportedly interfered in a vehicle stop and attempted to ram them with his SUV. The individual, identified as Carlos Jimenez, was wounded in the shoulder, treated at a hospital, and released on $10,000 bond with an ankle monitor, facing charges of assaulting a federal officer. ICE reported a 1,000% increase in assaults on officers, including vehicle attacks, and an 8,000% rise in death threats, while the man’s family claims he acted out of fear and civil rights groups call for an independent investigation into the use of force.
Geopolitics
Reports indicate that Venezuelan President Nicolás Maduro is associated with an organization called the “Cartel of the Sun,” which reportedly involves military and intelligence agencies and generates revenue from drugs and oil, allegedly using diplomatic immunity and government aircraft for operations. Some sources describe this as part of broader foreign influences in Latin America, including reported support from Russia, China, and individuals linked to past U.S. administrations, with assets allegedly positioned in the U.S. for potential destabilization.
In response, the U.S. has deployed military assets off Venezuela’s coast, including 16,000 troops, eight Navy warships, a special operations vessel, a nuclear-powered submarine, and the incoming aircraft carrier USS Gerald R. Ford with additional vessels and over 4,000 personnel. F-35 jets are stationed in Puerto Rico, and recent U.S. actions have targeted vessels suspected of drug smuggling. Maduro has denied the accusations and reportedly sought military aid from Russia and China, while Venezuelan officials emphasize diplomatic efforts to address narcotics issues and deny involvement in global threats like voter fraud.
In other news, Anduril Industries’ YFQ-44A Fury drone completed its maiden flight at Southern California Logistics Airport in Victorville, California, with chase planes present. The prototype is part of the U.S. Air Force’s Collaborative Combat Aircraft program Increment 1 and stems from a late-2010s aggressor drone concept that Anduril acquired in 2023. The flight occurred 556 days after the clean-sheet design and is intended to test autonomous behaviors, mission integration, and performance to support crewed fighters. Production is scheduled to ramp up at Anduril’s Arsenal-1 facility in Ohio starting in 2026, with plans for envelope expansion, weapons integration, and multi-aircraft operations. The Air Force plans to acquire 100-150 such aircraft, using platform-agnostic architectures for updates and allied integration, amid concerns raised about the ethical implications of autonomous weapons and potential budget overruns.
In the Ukraine conflict, Russia launched a record 270 missiles at Ukraine in October, a 46% increase from September, targeting energy facilities and railways, according to Ukrainian air force data. Ukrainian officials describe these strikes as aimed at creating chaos and psychological pressure. The country is experiencing rolling blackouts and infrastructure damage as winter approaches, with power demand straining the grid. Russia also deployed 5,298 long-range drones, near record levels. Ukraine has conducted thousands of drone strikes on Russian oil refineries and defense factories, reportedly to disrupt military funding, though the impact on exports has been limited, with Russian officials claiming the actions target military infrastructure in response to Ukrainian attacks.
Energy
The U.S. Department of Energy announced $100 million in funding for projects to modernize and refurbish coal-fired and natural gas power plants, with a focus on efficiency improvements and lifespan extension. The initiative follows a $625 million investment in September and aligns with executive orders to prioritize coal leasing on federal lands, rescind certain anti-coal policies, and designate steelmaking coal as a critical mineral. Coal capacity is projected to decline to 145 gigawatts by 2028 from 172 gigawatts, with retirements concentrated in the Midwest and Mid-Atlantic regions, drawing criticism from environmental groups for potentially hindering the transition to cleaner energy sources.
Meanwhile, Europe added solar capacity to reach 338 gigawatts in 2024, toward a 700-gigawatt goal by 2030, which is challenging aging grids designed for one-way power flows from central plants. Over-voltage incidents rose to 8,645 in 2024, nearly ten times the previous year, with nearly half of distribution networks expected to exceed 40 years old by 2030. Reported challenges include bidirectional flows from rooftop panels, scattered renewable sources requiring expanded cabling, and regional disparities, such as Spain’s April outages during periods of 21% solar reliance. Annual grid investments are projected to surpass $70 billion in 2025 but are said to lag behind clean-energy growth, leading to connection queues for over 1,700 gigawatts of renewables and an expected slight drop in new installations in 2025 due to bottlenecks and subsidy reductions, though some countries like Hungary have reduced incidents through targeted grid management.
European Politics
French President Emmanuel Macron has called for reduced reliance on social media for news, urging a return to traditional outlets and journalists. He stated that platforms prioritize excitement to generate advertising revenue and accused X of far-right dominance due to its owner’s reported involvement in political movements. Macron also warned of risks from TikTok and advocated for a stronger European regulatory agenda under the Digital Services Act to address foreign interference, including alleged Russian purchases of fake accounts. His proposals, linked to eIDAS digital identity frameworks, include requiring verified identities for online posts to eliminate anonymity, potentially integrating national IDs such as France Identité into platforms to trace content and combat disinformation. These ideas have drawn criticisms for potentially leading to over-compliance and erosion of free speech, with figures like Elon Musk arguing that such measures could threaten freedom of speech.
Sources
Venezuela’s Cartel Regime: A Communist Onslaught on America
You cannot tell the difference between the cartels and the government.
Source | Submitted by pinecarr
US Income Growth Slumps to Decade Low, Hammering Young Workers Amid Inflation and Job Weakness
Income growth in the US has slowed to a near-decade low, with young workers especially hard hit, in a sign American consumers are struggling with a weakening labour market and persistent inflation.
Source (Signup Required) | Submitted by Barbara
Anduril’s YFQ-44 Fury Drone Soars in Historic Maiden Flight
Anduril’s YFQ-44A ‘fighter drone’ prototype has now made its maiden flight.
October Onslaught: Russia Fires Record Missiles at Ukraine as Drones Target Moscow
Russia fired more missiles at Ukraine in October than in any month since at least the start of 2023, an AFP analysis of Ukrainian data showed.
Federal Judge Praises Trump’s SNAP Funding Response, Sets Monday Deadline for Benefits
The court greatly appreciates the president’s quick and definitive response to this court’s order and his desire to provide the necessary SNAP funding.
DOE Announces $100 Million to Revamp U.S. Coal Plants Amid Trump Push
The Department of Energy on Friday announced a $100 million funding package to revamp the nation’s existing coal-fired power plants, in a bid to support the US coal industry.
White House Reveals U.S.-China Trade Deal Details, Resolving Nexperia Auto Chip Crisis
The deal restores stability to global markets, strengthens U.S. industry, and marks a geopolitical win for Washington, according to the White House.
Europe’s Solar Boom Strains Aging Grids, Threatening Green Goals
Europe’s solar power boom is putting huge pressure on electricity grids that were never built to handle this much renewable energy, say analysts.
ICE Shoots Man Who Tried to Ram Agents During California Immigration Stop
“When told to leave, Jimenez drove forward, then reversed at speed toward agents, one of whom opened fire, wounding Jimenez,”
U.S. Masses 16,000 Troops Off Venezuela’s Coast Amid Rising Tensions
The US is deploying a massive military contingent to an area near Venezuela, including 10,000 soldiers and 6,000 sailors, the Washington Post has reported.
Macron’s War on Free Speech: Taming Social Media with Traceable Chains
His vision is of a Europe where free speech is tolerated only when it is traceable, and where platforms pre-emptively silence anything that might draw a regulator’s glare
In addition to sources submitted by community members, the following were also used in the creation of this report: Reuters, Venezuelan Foreign Ministry, The Wall Street Journal, Defense News, TASS, Sierra Club, The Guardian, The Hill, ACLU, and Elon Musk.
and inanities.
as well as an interview with those involved below, which I listened to yesterday - and learned some new things!