Hello,

Power spoke in different languages this week. In one room, it promised cooperation. In another, it prepared for confrontation.

In the markets, it reached new heights. In the palace, it fell from grace.

And elsewhere, a few words of faith turned into a national argument about belief and belonging.

Each story reminded us that control is never fixed. It’s negotiated, challenged, and sometimes lost.

Let’s dig in.

In today’s edition:

Trump's '12 out of 10' meeting with Xi

Iran quietly rebuilding its ballistic missile program

Faith, family and fallout

No longer a prince

Senator films critics in bed

White South Africans welcome

The United States and China have reached a new trade understanding following a face-to-face meeting between President Donald Trump and Chinese leader Xi Jinping in South Korea.

Trump called the talks a “roaring success,” announcing that the U.S. would lower tariffs imposed earlier this year on chemicals used to make fentanyl from 20% to 10%. The cut brings the total combined tariff rate on Chinese goods down from 57% to 47%.

In return, Beijing agreed to lift its export restrictions on rare-earth elements and resume large-scale purchases of American soybeans. Treasury Secretary Scott Bessent said China would buy 25 million metric tons of U.S. soybeans annually for the next three years, beginning with 12 million tons before January.

Trump told reporters that the meeting exceeded expectations, calling it “a 12 out of 10.” He added that both sides were exploring further cooperation on technology and manufacturing, including possible talks involving U.S. chipmaker Nvidia and Chinese officials.

Xi described the outcome as a step toward “peace of mind” for both nations, emphasizing that the world’s two largest economies should focus on long-term cooperation rather than “a cycle of mutual retaliation.”

Western intelligence agencies have reportedly detected new activity at several military sites across Iran that suggest the country is rebuilding its long-range ballistic missile program. Satellite imagery and communications intercepts indicate construction at facilities that were previously dormant under the 2015 nuclear agreement.

The effort appears to involve the development of solid-fuel missiles capable of reaching greater distances and carrying heavier payloads. Analysts believe this signals a renewed focus on deterrence and regional leverage rather than direct confrontation, but it has nonetheless raised concern in Washington and Tel Aviv.

Iranian officials have not publicly confirmed the reports. However, state media has recently aired footage of military tests described as “defensive modernization,” part of what Tehran calls its right to self-defense.

The revelation comes as tensions in the Middle East remain high. The collapse of the original nuclear deal, rising oil prices, and growing cooperation between Iran, Russia, and China have created a new layer of strategic uncertainty. U.S. officials say they are closely monitoring developments but have not announced any formal response.

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Vice President JD Vance became the focus of a significant controversy this week that underscores the complexities of religion, culture, and politics in America today. Addressing an event hosted by Turning Point USA at the University of Mississippi, Vance spoke candidly about his family and faith and expressed hope that his wife would eventually embrace Christianity, his own religious faith. Usha Vance, born Usha Chilukuri, was raised in a Hindu household by Indian immigrant parents and has largely kept her religious beliefs private. His remark quickly sparked a public backlash, igniting debates on religious respect, cultural identity, and what belonging means in modern America.

His comments quickly spread across political and cultural circles. While his supporters said Vance was simply speaking about his personal faith, critics argued that his words carried a different weight because of who he is, the Vice President of a country that prides itself on religious freedom.

Several advocacy groups representing South Asian and interfaith communities released statements calling the remark insensitive, saying it reinforced stereotypes about cultural assimilation.

In a damage-control move, Vance's team described his remarks as “a personal expression of faith” and rejected claims that they were disrespectful. The Vice President himself addressed the controversy in a local radio interview, saying that while he understood why some might have taken offense, he was “speaking from the heart,” adding that “people of faith should be able to talk about their beliefs without being vilified for it.”

However, instead of calming the discussion, his comments seemed to have widened it. From religious leaders to political commentators, everyone began weighing in on whether a public figure should keep personal beliefs away from public speeches or whether politicians have a right to personal conviction that can be stated openly.

For Vance, the timing of this episode is also politically sensitive. Already facing renewed scrutiny over past campaign dealings, which he denies involved any wrongdoing, the Vice President has been trying to project discipline and control as the administration prepares for a midterm election cycle. This controversy, though personal in nature, has drawn attention away from policy and back toward perception: how he is seen, not just what he stands for.

Usha Vance has not commented publicly, and those close to her say she is unlikely to. Her silence has only deepened public curiosity, but it has also reminded many that this debate began not with her, but around her. In an age when political spouses are often drawn into controversy, her restraint has been seen by some as a quiet assertion of independence.

The Buckingham Palace has said that Prince Andrew will be stripped of his “prince” title and will be evicted from his sprawling residence, Royal Lodge. He will now be known as Andrew Mountbatten-Windsor. Last week, Andrew announced he would give up the use of his other most prominent title, the Duke of York. In a statement on Thursday, the Palace said the King “has today initiated a formal process to remove the style, titles and honours of Prince Andrew.” As well as the title, the Palace said “formal notice has now been served to surrender the lease” on Royal Lodge. Andrew will move into private accommodation on the Sandringham Estate, which is understood to be privately funded by King Charles III. The Palace also expressed its support for victims of “any and all forms of abuse”.

Andrew’s fall from grace traces back to his long-criticized association with Jeffrey Epstein and the allegations brought by Virginia Giuffre. Giuffre claimed she was trafficked by Epstein’s network and forced into sexual encounters with Andrew beginning when she was 17. Andrew has consistently denied any wrongdoing. In August 2021 Giuffre filed a civil lawsuit in New York against Andrew for sexual assault and emotional distress. That case was settled out of court in February 2022, with Andrew making a large donation to Giuffre’s charity and neither side admitting liability.

The public and media backlash grew especially strong after a 2019 BBC interview in which Andrew attempted to explain his links with Epstein and Giuffre, a backlash that led to his withdrawal from public duties and the loss of his military roles. With the latest move by the Palace, the royal institution appears to have drawn a line under his role in public life. The step comes amid intense scrutiny of his past relationships and the wider concerns over how those relationships reflect on the monarchy.

Maryland State Senator Dalya Attar has been indicted on eight federal charges after prosecutors accused her of secretly filming two of her critics in bed and threatening to release the footage to silence them.

Court documents say Attar, 35, enlisted her brother and several associates to plant hidden cameras and tracking devices targeting a former political consultant who had once worked on her campaign.

The recordings were allegedly used to intimidate the consultant and a married man, warning them not to speak out against her.

Attar, a Democrat representing Baltimore City and the first Orthodox Jewish woman to serve in the Maryland Senate, has rejected the accusations, describing the case as a baseless attack by a “disgruntled former employee.”

President Donald Trump has set the refugee ceiling for 2026 at 7,500, the lowest level ever recorded in the United States. The decision, outlined in a White House memorandum, sharply narrows who can enter the country under humanitarian grounds.

Officials say the new policy will prioritize white South Africans who claim they face racial persecution, a claim South Africa’s government has dismissed as false and politically charged.

The Trump administration argues that the reduced cap reflects a need for “tighter screening” and “greater national security.” Rights groups and Democratic lawmakers have criticized the move, saying it abandons America’s long tradition of offering refuge to those fleeing conflict and repression.

Last year, the U.S. admitted nearly 100,000 refugees under the previous administration. Trump’s new limit, combined with a narrower definition of who qualifies for entry, marks one of the steepest pullbacks in the program’s four-decade history.

Nvidia on October 29 became the first company in history to reach a valuation of $5 trillion.

The company’s stocks rose by as much as 3.4% at the market open following news of big future AI chip orders, its plan to build seven supercomputers for the US Department of Energy, tie-ups with telecom companies on a wireless 6G buildout, new robotics initiatives, as well as potential breakthrough in talks over sales in China.

So how does the $5 trillion valuation compare to other companies?

It is roughly equivalent to: two Amazons, six JPMorgan Chases, 10 Exxon Mobils, 12 Costcos23 McDonald’s, 25 Disneys, 50 Nikes, 96 Ford Motors, 945 Macy’s, 3,311 JetBlues.

Nvidia is also now three times the size of the entire S&P 500 energy sector and more than double the size of the Germany DAX and France CAC indexes.

Amazon has announced it will slash around 14,000 corporate jobs as it ramps up spending on AI.

In a letter to employees on Tuesday, Beth Galetti, Senior Vice President of People Experience and Technology, said that the employees impacted by the job cuts will be given 90 days to look for a new position internally.

Those who are unable to find a new role within the company or those who opt to not take up one, will be be provided severance pay, outplacement services and health insurance benefits.

The company plans to invest $10 billion to expand its cloud computing and AI infrastructure.

A Toyota executive refuted President Trump’s recent assertion that the company had pledged a $10 billion investment in U.S. auto plants.

While reaffirming the automaker’s commitment to ongoing investments in the country, Hiroyuki Ueda said that the $10 billion mentioned by Trump could be a number discussed during his first administration.

“During the first Trump administration, I think the figure was roughly around $10 billion, so while we didn’t say the same scale, we did explain that we’ll keep investing and providing employment as before,” Ueda told reporters, according to Reuters.

“So, probably because of that context, the figure of about $10 billion came up,” he continued. “Therefore, we didn’t specifically say that we’ll invest $10 billion over the next few years.”

Trump, meanwhile, encouraged U.S. troops to buy Toyota cars while addressing them aboard the USS George Washington at the Yokosuka Naval Base.

“Go out and buy a Toyota,” the president said, garnering applause.