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North Carolina-headquartered Barings named in Climate Action 100+ probe

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The Judiciary Committee of the U.S. House of Representatives, in a report, says its probe has led to a loss of $17 trillion worth of assets under management by the Climate Action 100+. That includes $6.6 trillion from BlackRock, $4.1 trillion by State Street, $3.1 trillion by JPMorgan, $1.89 trillion by PIMCO, and $1.6 trillion by Invesco.

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An interim report by the Judiciary – Climate Control: Exposing the Decarbonization Collusion in Environmental, Social and Governance (ESG) Investing – labels the initiative a “climate cartel,” one which is involved in collusion and has not been investigated by the Biden administration.

One North Carolina company is among more than 130 in the United States being asked by a congressional committee about involvement with environmental, social and governance initiative Climate Action 100+.

U.S. Reps. Deborah Ross and Dan Bishop, a Democrat and Republican respectively from North Carolina, are among the 42 members of the Judiciary Committee in the House of Representatives seeking answers. In addition to the letter sent to Charlotte-headquartered Barings, the probe also seeks answers on involvement by retirement systems and government pension programs.

The probe and letters dated last Tuesday to Climate Action 100+ is trying to find answers to how the companies are operating with tactics, requests and actions; and garner documentations. A noon Aug. 13 deadline is set for responses.

Antitrust law, and the possible breach of it, is cited in each letter. Antitrust laws, the Department of Justice says, “prohibit anticompetitive conduct and mergers that deprive American consumers, taxpayers, and workers of the benefits of competition.”

An interim report by the Judiciary – Climate Control: Exposing the Decarbonization Collusion in Environmental, Social and Governance (ESG) Investing – labels the initiative a “climate cartel,” one which is involved in collusion and has not been investigated by the Biden administration.

“The climate cartel has declared war on our way of life, escalating its attacks on free markets and demanding that companies slash output of the critical products and services that allow Americans to drive, fly, and eat,” the report says. “The Biden administration has failed to act upon the climate cartel’s apparent violations of longstanding U.S. antitrust law. The committee, in contrast, is actively investigating their anticompetitive behavior.”

The report says with launch of the probe came withdrawals from the effort by BlackRock, State Street and JPAM, “three of the world’s largest asset managers.” Asset managers BlackRock, State Street and Vanguard own 21.9% of shares, and vote 24.9% of the shares, within the Standard and Poor’s (S&P) 500.

More than 272,000 documents and 2.5 million pages of nonpublic information were reviewed, the Judiciary says.

Most of the letters went to addresses in New York, Massachusetts and California.

Barings, according to its website, “is a global asset management firm which seeks to deliver excess returns across public and private markets in fixed income, real assets and capital solutions.”

In general, ESG investing – an acronym used in conjunction with environmental, social, and governance policies in investments – measures company policy. These policies typically align with progressive, or left, thoughts when it comes to politics.

Other names of description are sustainability, such as treatment of natural resources, gas emissions and climate regulations. A company’s policies for profits shared in the community, and how health and safety are impacted, relates to the social aspect. Governance usually aligns not only with integrity of accountability toward shareholders, but also diversity in leadership.

Issues in a company’s industry and the principles of ESG often shape policy.

Bishop is a member of the Subcommittee on the Administrative State, Regulatory Reform, and Antitrust within the Judiciary Committee. The 26-member subcommittee is chaired by Rep. Thomas Massie, R-Ky.

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Trump confirms 35% tariff on Canada, warns more could come

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Quick Hit:

President Trump on Thursday confirmed a sweeping new 35% tariff on Canadian imports starting August 1, citing Canada’s failure to curb fentanyl trafficking and retaliatory trade actions.

Key Details:

  • In a letter to Canadian Prime Minister Mark Carney, Trump said the new 35% levy is in response to Canada’s “financial retaliation” and its inability to stop fentanyl from reaching the U.S.
  • Trump emphasized that Canadian businesses that relocate manufacturing to the U.S. will be exempt and promised expedited approvals for such moves.
  • The administration has already notified 23 countries of impending tariffs following the expiration of a 90-day negotiation window under Trump’s “Liberation Day” trade policy.

Diving Deeper:

President Trump escalated his tariff strategy on Thursday, formally announcing a 35% duty on all Canadian imports effective August 1. The move follows what Trump described as a breakdown in trade cooperation and a failure by Canada to address its role in the U.S. fentanyl crisis.

“It is a Great Honor for me to send you this letter in that it demonstrates the strength and commitment of our Trading Relationship,” Trump wrote to Prime Minister Mark Carney. He added that the tariff response comes after Canada “financially retaliated” against the U.S. rather than working to resolve the flow of fentanyl across the northern border.

Trump’s letter made clear the tariff will apply broadly, separate from any existing sector-specific levies, and included a warning that “goods transshipped to evade this higher Tariff will be subject to that higher Tariff.” The president also hinted that further retaliation from Canada could push rates even higher.

However, Trump left the door open for possible revisions. “If Canada works with me to stop the flow of Fentanyl, we will, perhaps, consider an adjustment to this letter,” he said, adding that tariffs “may be modified, upward or downward, depending on our relationship.”

Canadian companies that move operations to the U.S. would be exempt, Trump said, noting his administration “will do everything possible to get approvals quickly, professionally, and routinely — In other words, in a matter of weeks.”

The U.S. traded over $762 billion in goods with Canada in 2024, with a trade deficit of $63.3 billion, a figure Trump called a “major threat” to both the economy and national security.

Speaking with NBC News on Thursday, Trump suggested even broader tariff hikes are coming, floating the idea of a 15% or 20% blanket rate on all imports. “We’re just going to say all of the remaining countries are going to pay,” he told Meet the Press moderator Kristen Welker, adding that “the tariffs have been very well-received” and noting that the stock market had hit new highs that day.

The Canadian announcement is part of a broader global tariff rollout. In recent days, Trump has notified at least 23 countries of new levies and revealed a separate 50% tariff on copper imports.

“Not everybody has to get a letter,” Trump said when asked if other leaders would be formally notified. “You know that. We’re just setting our tariffs.”

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Trump slaps Brazil with tariffs over social media censorship

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From LifeSiteNews

By Dan Frieth

In his letter dated July 9, 2025, addressed to President Luiz Inácio Lula da Silva, Trump ties new U.S. trade measures directly to Brazilian censorship.

U.S. President Donald Trump has launched a fierce rebuke of Brazil’s moves to silence American-run social media platforms, particularly Rumble and X.

In his letter dated July 9, 2025, addressed to President Luiz Inácio Lula da Silva, Trump ties new U.S. trade measures directly to Brazilian censorship.

He calls attention to “SECRET and UNLAWFUL Censorship Orders to U.S. Social Media platforms,” pointing out that Brazil’s Supreme Court has been “threatening them with Millions of Dollars in Fines and Eviction from the Brazilian Social Media market.”

A formal letter dated July 9, 2025, from The White House addressed to His Excellency Luiz Inacio Lula da Silva, President of the Federative Republic of Brazil, discussing opposition to the trial of former President Jair Bolsonaro and announcing a 50% tariff on Brazilian products entering the United States due to alleged unfair trade practices and censorship issues, with a note on efforts to ease trade restrictions if Brazil changes certain policies.

A typed letter from Donald J. Trump, President of the United States of America, discussing tariffs related to Brazil, digital trade issues, and a Section 301 investigation, signed with his signature.

Trump warns that these actions are “due in part to Brazil’s insidious attacks on Free Elections, and the fundamental Free Speech Rights of Americans,” and states: “starting on August 1, 2025, we will charge Brazil a Tariff of 50% on any and all Brazilian products sent into the United States, separate from all Sectoral Tariffs.” He also adds that “Goods transshipped to evade this 50% Tariff will be subject to that higher Tariff.”

Brazil’s crackdown has targeted Rumble after it refused to comply with orders to block the account of Allan dos Santos, a Brazilian streamer living in the United States.

On February 21, 2025, Justice Alexandre de Moraes ordered Rumble’s suspension for non‑compliance, saying it failed “to comply with court orders.”

Earlier, from August to October 2024, Moraes had similarly ordered a nationwide block on X.

The court directed ISPs to suspend access and imposed fines after the platform refused to designate a legal representative and remove certain accounts.

Elon Musk responded: “Free speech is the bedrock of democracy and an unelected pseudo‑judge in Brazil is destroying it for political purposes.”

By linking censorship actions, particularly those targeting Rumble and X, to U.S. trade policy, Trump’s letter asserts that Brazil’s judiciary has moved into the arena of foreign policy and economic consequences.

The tariffs, he makes clear, are meant, at least in part, as a response to Brazil’s suppression of American free speech.

Trump’s decision to impose tariffs on Brazil for censoring American platforms may also serve as a clear signal to the European Union, which is advancing similar regulatory efforts under the guise of “disinformation” and “online safety.”

With the EU’s Digital Services Act and proposed “hate speech” legislation expanding government authority over content moderation, American companies face mounting pressure to comply with vague and sweeping takedown demands.

By framing censorship as a violation of U.S. free speech rights and linking it to trade consequences, Trump is effectively warning that any foreign attempt to suppress American voices or platforms could trigger similar economic retaliation.

Reprinted with permission from Reclaim The Net.

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