Will Rhind, CEO of GraniteShares, discusses gold’s ongoing price momentum and latest all-time high, saying he sees fear as a key driver right now.
However, increasing M2 money supply is also an important underlying factor for the yellow metal.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
In a rapidly escalating economic conflict that now threatens to fracture global trade, the US and China are locking horns once again in a full-blown, protracted tariff war.
On Wednesday (April 9), US President Donald Trump announced sweeping new tariffs targeting Chinese goods, raising levies to a staggering 125 percent. Hours later, Beijing responded in kind, unveiling retaliatory tariffs of 84 percent on all American imports, as well as tightening restrictions on US companies operating in China.
The Asian country doubled down on Thursday (April 10), hiking tariffs to 125 percent.
Wednesday’s action from the US came as the Trump provided a 90 day pause on reciprocal tariffs for countries that had refrained from retaliating to its targeted tariffs last week. China was excluded from the reprieve because it did retaliate.
“I did a 90-day pause for the people that didn’t retaliate, because I told them, ‘If you retaliate, we’re going to double it,’” Trump told reporters on Wednesday, asserting that China has failed to approach negotiations in good faith.
“China wants to make a deal, they just don’t know how quite to go about it. They’re proud people. President Xi (Jinping) is a proud man. I know him very well. They don’t know quite how to go about it but they’ll figure it out,” he added.
But in Beijing, the narrative is starkly different. Chinese leader Xi has refused to yield to what the Chinese government calls America’s “unilateral bullying,” instead rallying domestic support through a campaign of economic nationalism.
China’s State Council Tariff Commission has sharply rebuked the US, stating that the American escalation severely infringes upon China’s legitimate rights and interests and seriously damages the global trading system.
It has added six US firms to its ‘unreliable entity list,’ barred 12 American companies from receiving dual-use technology with military and civilian applications, and filed a formal complaint with the World Trade Organization (WTO).
“The Chinese government have been preparing for this day for six years — they knew this was a possibility,” CNN quotes Victor Shih, director of the 21st Century China Center at the University of California, San Diego, as saying.
The spiraling tariffs are already having tangible effects. Shipping and logistics costs have surged, global stock markets have dipped sharply and economists are warning of looming inflation as supply chains face disruption.
According to JPMorgan (NYSE:JPM), American consumers may face the equivalent of a US$660 billion tax burden — the highest tax hike in recent decades — before supply chains adapt.
The latest tit-for-tat measures also come at a time of economic vulnerability for both countries. China is attempting to stabilize its economy after a severe downturn in real estate and local government debt.
The US, meanwhile, is grappling with volatile debt markets and rising consumer prices. Just this week, US Treasury yields spiked to 4.5 percent, their highest level since early 2023, prompting a brief but dramatic selloff in global equities.
Markets rebounded slightly after Trump announced the tariff pause for non-retaliating countries, with the S&P 500 (INDEXSP:.INX) closing up 9.5 percent and the Dow Jones Industrial Average (INDEXDJX:.DJI) surging nearly 8 percent.
Still, uncertainty remains around the world as Trump’s 90 day reprieve begins.
Europe, which had also faced stiff levies on steel and aluminum, announced its own retaliatory measures on Wednesday.
While it was later included in Trump’s pause list due to the delay in its response, the European Commission made clear that its tariffs “can be suspended at any time, should the US agree to a fair and balanced negotiated outcome.”
What began with campaign promises to revamp America’s trade relationships rapidly evolved into a tit-for-tat trade war with key US allies and competitors alike. Here’s a look at what happened.
Despite the mutual saber-rattling, both the US and China have left the door open to dialogue — albeit on vastly different terms. China’s Foreign Ministry urged the US to demonstrate “an attitude of equality, respect, and mutual benefit.” US Treasury Secretary Scott Bessent struck a defiant tone, dismissing China’s retaliatory measures as ineffective.
“They have the most imbalanced economy in the history of the modern world,” he told Fox Business. “They’re the surplus country. Their exports to the US are five times our exports to China. So, they can raise their tariffs. But so what?”
Yet economists and international trade experts warn the stakes are high — not just for the two economic giants, but for the world. According to WTO forecasts, the fallout could slash global trade volumes by hundreds of billions of dollars.
“Our assessments, informed by the latest developments, highlight the substantial risks associated with further escalation,” said WTO Director-General Ngozi Okonjo-Iweala in an April 9 statement.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Silver-mining companies and juniors have seen support from a strong silver price in 2025. Since the start of the year, the price of silver has increased by over 11 percent as of April 11, and it reached a year-to-date high of US$34.38 per ounce on March 27.
Silver’s dual function as a monetary and industrial metal offers great upside. Demand from energy transition sectors, especially for use in the production of solar panels, has created tight supply and demand forces.
Demand is already outpacing mine supply, making for a positive situation for silver-producing companies.
So far, aboveground stockpiles have been keeping the price in check, but the expectation is those stocks will be depleted in 2025 or 2026, further restricting the supply side of the market.
How has silver’s price movement benefited Canadian silver stocks on the TSX, TSXV and CSE? The five companies listed below have seen the best performances since the start of the year. Data was gathered using TradingView’s stock screener on February 12, 2025, and all companies listed had market caps over C$10 million at that time.
Year-to-date gain: 185.92 percent
Market cap: C$848.98 million
Share price: C$2.03
Discovery Silver is a precious metals development company focused on advancing its Cordero silver project in Mexico. Additionally, it is looking to become a gold producer with its recently announced acquisition of the producing Porcupine Complex in Ontario, Canada.
Cordero is located in Mexico’s Chihuahua State and is composed of 26 titled mining concessions covering approximately 35,000 hectares in a prolific silver and gold mining district.
A 2024 feasibility study for the project outlined proven and probable reserves of 327 million metric tons of ore containing 302 million ounces of silver at an average grade of 29 grams per metric ton (g/t) silver, and 840,000 ounces of gold at an average grade of 0.08 g/t gold. The site also hosts significant zinc and lead reserves.
The report also indicated favorable economics for development. At a base case scenario of US$22 per ounce of silver and US$1,600 per ounce of gold, the project has an after-tax net present value of US$1.18 billion, an internal rate of return of 22 percent and a payback period of 5.2 years.
Discovery’s shares gained significantly on January 27, after the company announced it had entered into a deal to acquire the Porcupine Complex in Canada from Newmont (TSX:NGT,NYSE:NEM).
The Porcupine Complex is made up of four mines including two that are already in production: Hoyle Pond and Borden. Additionally, a significant portion of the complex is located in the Timmins Gold Camp, a region known for historic gold production.
Discovery anticipates production of 285,000 ounces of gold annually over the next 10 years and has a mine life of 22 years. Inferred resources at the site point to significant expansion, with 12.49 million ounces of gold, from 254.5 million metric tons of ore with an average grade of 1.53 g/t.
Upon the closing of the transaction, Discovery will pay Newmont US$200 million in cash and US$75 million in common shares, and US$150 million of deferred consideration will be paid in four payments beginning on December 31, 2027.
According to Discovery in its full year 2024 financial results, the Porcupine acquisition will help support the financing, development and operation of Cordero. Discovery’s share price reached a year-to-date high of C$2.12 on March 31.
Year-to-date gain: 136.36 percent
Market cap: C$16.47 million
Share price: C$0.13
Almaden Minerals is a precious metals exploration company working to advance the Ixtaca gold and silver deposit in Puebla, Mexico. According to the company website, the deposit was discovered by Almaden’s team in 2010 and has seen more than 200,000 meters of drilling across 500 holes.
A July 2018 mineral resource estimate shows measured resources of 862,000 ounces of gold and 50.59 million ounces of silver from 43.38 million metric tons of ore, and indicated resources of 1.15 million ounces of gold and 58.87 million ounces of silver from 80.76 million metric tons of ore with a 0.3 g/t cutoff.
In April 2022, Mexico’s Supreme Court of Justice (SCJN) ruled that the initial licenses issued in 2002 and 2003 would be reverted back to application status after the court found there had been insufficient consultation when the licenses were originally assigned.
Ultimately, the applications were denied in February 2023, effectively halting progress on the Ixtaca project. While subsequent court cases have preserved Almaden’s mineral rights, it has yet to restore the licenses to continue work on the project.
In June 2024, Almaden announced it had confirmed up to US$9.5 million in litigation financing that will be used to fund international arbitrations proceedings against Mexico under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
In a December update, the company announced that several milestones had been achieved, including the first session with the tribunal, at which the company was asked to submit memorial documents outlining its legal arguments by March 20, 2025. At that time, the company stated it would vigorously pursue the claim but preferred a constructive resolution with Mexico.
In its most recent update on March 21, the company indicated that it had submitted the requested documents, claiming US$1.06 billion in damages. The memorial document outlines how Mexico breached its obligations and unlawfully expropriated Almaden’s investments without compensation.
Shares in Almaden reached a year-to-date high of C$0.135 on February 24.
Year-to-date gain: 98.43 percent
Market cap: C$373.48 million
Share price: C$2.52
Avino Silver and Gold Mines is a precious metals miner with two primary silver assets: the producing Avino silver mine and the neighboring La Preciosa project in Durango, Mexico.
The Avino mine is capable of processing 2,500 metric tons of ore per day ore, and according to its FY24 report released on January 21 the mine produced 1.1 million ounces of silver, 7,477 ounces of gold and 6.2 million pounds of copper last year. Overall, the company saw broad production increases with silver rising 19 percent, gold rising 2 percent and copper increasing 17 percent year over year.
In addition to its Avino mining operation, Avino is working to advance its La Preciosa project toward the production stage. The site covers 1,134 hectares, and according to a February 2023 resource estimate, hosts a measured and indicated resource of 98.59 million ounces of silver and 189,190 ounces of gold.
In a January 15 update, Avino announced it had received all necessary permits for mining at La Preciosa and begun underground development at La Preciosa. It is now developing a 350-meter mine access and haulage decline. The company said the first phase at the site is expected to be under C$5 million and will be funded from cash reserves.
The latest update from Avino occurred on March 11, when it announced its 2024 financial results. The company reported record revenue of $24.4 million, up 95 percent compared to 2023. Avino also reduced its costs per silver ounce sold.
Additionally, Avino reported a 19 percent increase in production in 2024, producing 1.11 million ounces of silver compared to 928,643 ounces in 2023. The company’s sales also increased, up by 23 percent to 2.56 million ounces of silver compared to 2.09 million ounces the previous year.
Avino’s share price marked a year-to-date high of C$2.80 on March 27.
Year-to-date gain: 90 percent
Market cap: C$160.17 million
Share price: C$1.90
Highlander Silver is an exploration and development company advancing projects in South America.
Its primary focus has been the San Luis silver-gold project, which it acquired in a May 2024 deal from SSR Mining (TSX:SSRM,NASDAQ:SSRM) for US$5 million in upfront cash consideration and up to an additional US$37.5 million if Highlander meets certain production milestones.
The 23,098 hectare property, located in the Ancash department of Peru, hosts a historic measured and indicated mineral resource of 9 million ounces of silver, with an average grade of 578.1 g/t, and 348,000 ounces of gold at an average grade of 22.4 g/t from 484,000 metric tons of ore.
In July 2024, the company announced it was commencing field activities at the project but has not provided results from the program.
In its December 2024 management discussion and analysis, the company stated it was undertaking a review of prior exploration plans and targets, adding that it believes there is exceptional growth potential.
Highlander’s most recent news came on March 11, when it announced it had closed an upsized bought deal private placement for gross proceeds of C$32 million. The company said it will use the funding to further exploration activities at San Luis and for general working capital.
Shares in Highlander reached a year-to-date high of C$1.96 on March 31.
Year-to-date gain: 85.45 percent
Market cap: C$192.16 million
Share price: C$0.51
Santacruz Silver is an Americas-focused silver producer with operations in Bolivia and Mexico.
Its producing assets include the Bolivar, Porco and Caballo Blanco Group mines in Bolivia, along with the Zimapan mine in Mexico.
In a production report released on January 30, the company disclosed consolidated silver production of 6.72 million ounces, marking a 4 percent decrease from the 7 million ounces produced in 2023. This decline was primarily attributed to a reduction in average grades across all its mining properties.
In addition to its producing assets, Santacruz also owns the greenfield Soracaya project. This 8,325-hectare land package is located in Potosi, Bolivia. According to an August 2024 technical report, the site hosts an inferred resource of 34.5 million ounces of silver derived from 4.14 million metric tons of ore with an average grade of 260 g/t.
Shares in Santacruz reached a year-to-date high of C$0.59 on March 18.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Here’s a quick recap of the crypto landscape for Friday (April 11) as of 9:00 p.m. UTC.
At the time of this writing, Bitcoin (BTC) was priced at US$83,823.99 and up 5.2 percent in 24 hours. The day’s range has seen a low of US$81,675.28 and a high of U$83,968.58.
Bitcoin performance, April 11, 2025.
Chart via TradingView.
Markets recovered on Friday afternoon after a week of unprecedented volatility triggered by an ongoing trade war between the US and China. Stronger-than-expected producer price index data out of the US suggests inflation could be easing, igniting a recovery for the crypto and stock markets.
Ethereum (ETH) is priced at US$1,565, a 3 percent increase over the past 24 hours. The cryptocurrency reached an intraday low of US$1,549.00 and a high of US$1,582.64.
US President Donald Trump has signed into law a bill nullifying an Internal Revenue Service (IRS) rule that controversially expanded the definition of “broker” to include decentralized finance (DeFi) platforms.
The regulation, finalized in the waning days of the Biden administration, would have required DeFi protocols — which operate without intermediaries — to report detailed user transaction data to the IRS, something crypto developers argued was both technically unfeasible and legally dubious.
With bipartisan support, both chambers of Congress passed the reversal using the Congressional Review Act. The decision is part of Trump’s broader pledge to position the US as a global crypto leader.
In his first week back in office, he created a federal working group on cryptocurrency regulation and signed an executive order to build a national Bitcoin reserve. The Trump administration has also repeatedly criticized the Biden-era IRS framework as stifling innovation and creating legal liabilities for developers.
Intending to build on the US Securities and Exchange Commission’s (SEC) Crypto Task Force, the commission’s Division of Corporation Finance issued guidance on how federal securities laws should apply to crypto.
The commission said companies issuing or dealing with tokens that could be securities should give better details about their business. However, the statement didn’t provide clarity on what digital assets could be securities.
Crypto companies typically provide details about their operations, the function of their tokens, and their plans for generating revenue. They also address their future involvement with any launched crypto networks or apps, specifying who will take responsibility for them if the company itself does not.
The SEC has requested that cryptocurrency companies provide additional details about their technology. This includes specifying whether their product uses a proof-of-work or proof-of-stake blockchain, as well as information about its block size, transaction speed, reward mechanisms and the measures taken to ensure network security.
The SEC also asked whether the protocol is open-source or not.
It added that a company should share if a protocol’s code can be modified, and if so, who can make such changes and whether the smart contracts involved have been subjected to a third-party security audit.
Other disclosures the statement mentioned are whether the token’s supply is fixed and how it was or will be issued, along with identifying executives and “significant employees.”
New York could soon become one of the first US states to formally integrate cryptocurrency into government operations.
A newly filed bill, Assembly Bill A7788, introduced by Assemblymember Clyde Vanel, proposes to allow state agencies to accept crypto — including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash — for a wide range of payments such as taxes, fees, rent, and fines.
The proposed legislation would authorize agencies to enter agreements with crypto payment providers, ensuring that final settlements are made in fiat currency to shield state budgets from crypto market volatility.
More importantly, the bill stipulates that debts would not be considered legally settled until the state receives full fiat payment, preserving the integrity of public finance processes.
Agencies may also charge service fees to offset transaction costs and volatility hedging. While this is not the first time such a proposal has emerged — similar bills were introduced in previous legislative sessions but failed to advance — the current climate of growing mainstream adoption and Trump-era pro-crypto sentiment may improve its chances.
The SEC and Ripple have filed a joint motion to put their appeals in abeyance, pausing proceedings in a sign that both entities anticipate a settlement will be reached when newly appointed SEC Chairman Paul Atkins takes over.
The Senate confirmed Atkins on April 9; however, no date has been set for his swearing-in.
“An abeyance would conserve judicial and party resources while the parties continue to pursue a negotiated resolution of this matter,” the parties jointly stated in an April 10 court filing. Ripple’s defense attorney, James Filan, said the new filing supersedes the April 16 deadline for Ripple to respond to the SEC’s brief filed in January.
In other developments, the SEC dismissed its lawsuit against Helium developer Nova Labs for allegedly issuing unregistered securities.
BlackRock (NASDAQ:BLK) released its Q1 earnings report on Friday, reporting US$84 billion in total net inflows in the first quarter of 2025, marking a 3 percent annualized growth in assets under management (AUM).
Its performance was led in part by US$107 billion in net inflows to its iShares ETFs, roughly US$3 billion, or 2.8 percent, directed to digital asset products. Digital AUM amounted to US$50.3 billion at the end of Q1, roughly 0.5 percent of the firm’s US$11.6 trillion total AUM.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Global markets took a beating this week as investors and world leaders reacted to sweeping tariffs announced by the Trump administration on April 2, with tensions between the US and China escalating.
After last week’s losses, this week started with a brief but sizable 8.5 percent surge on Monday (April 7), followed by a sharp decline that extended into Tuesday’s (April 8) trading day.
The move came after news outlets reported a potential 90 day pause on US President Donald Trump’s widespread tariffs. While the White House was quick to deny the rumour, Trump ultimately did opt to pause reciprocal tariffs for most nations amid a falling bond market and public opposition from within the Republican Party.
The pause brought a substantial 9.5 percent gain by the closing bell, but Thursday (April 10) saw another 6.3 percent fall as uncertainty continued to plague the market.
The president has now narrowed his focus to China, increasing the country’s tariff rate from 104 percent to 125 percent on Wednesday (April 9). On Thursday, the Trump administration confirmed that those levies would be added to the previous 20 percent tariff, bringing the total to 145 percent. China has responded in kind, levying 125 percent tariffs against all products coming from the US, up from its previous retaliatory figure of 84 percent.
All Magnificent 7 stocks, which were already down for the year, have fallen considerably since April 2; however, the Information’s Martin Peers notes that Apple (NASDAQ:APPL), a product maker with manufacturing ties and a large customer base in China, has experienced steeper declines than chip makers and software providers Google (NASDAQ:GOOGL), Broadcom (NASDAQ:AVGO), Meta Platforms (NASDAQ:META) and Amazon (NASDAQ:AMZN).
Peers also points out that Microsoft’s (NASDAQ:MSFT) diversified business model and less dramatic recent growth make it well positioned to handle market volatility.
While the current tariff regime has exemptions for semiconductors, other data center materials are exposed, as highlighted by Gil Luria, managing director and head of technology research at DA Davidson.
Luria told Fortune that at least one-quarter to one-third of data center costs are non-semiconductor components, casting a shadow of uncertainty over the trillion-dollar data centers planned over the next few years.
Adding to the volatility, an article published last week by global market intelligence company IDC suggests tariffs could lead to a notable slowdown in global IT spending in 2025.
With that, let’s dive into this week’s top stories.
The White House will reverse plans to put additional export restrictions on NVIDIA’s (NASDAQ:NVDA) cutting-edge H20 chips, according to NPR. Anonymous sources say CEO Jensen Huang spoke to the president at a dinner in Mar-a-Lago last week, committing to increase its investment in the US artificial intelligence (AI) data center buildout.
After the dinner, the administration opted to pause a months-long plan to place additional export restrictions on NVIDIA’s H20 chips, the most advanced chips US-based enterprises can sell to China under the current laws.
The plan had been in the works since lawmakers began lobbying the administration to limit China’s access to cutting-edge technology following the release of DeepSeek’s AI chatbot, R1.
“If NPR’s reporting is accurate, this news is a significant positive for NVIDIA, as well as a more modest tailwind for other portions of the server supply chain,” Wedbush Securities analyst Matt Bryson said in a client note on Thursday.
After the Trump administration’s tariff announcement last week, Reuters reported that Chinese companies, including Alibaba Group Holding (NYSE:BABA), ByteDance and Tencent Holdings (OTC Pink:TCE:HY,HKEX:0770), had placed roughly US$16 billion in orders for NVIDIA’s H20 chips.
Customers filed into Apple stores across the US over the weekend, fretting that the iPhone maker may be forced to raise prices on its products in the face of rising manufacturing costs stemming from the ongoing US-China trade war.
The tech giant is heavily reliant on Asian assembly lines, and experts widely agree that a return of tech manufacturing to the US is a complex and time-consuming process, making it an unlikely immediate solution for a company whose products are high in demand and require rapid production and distribution. The company is planning a series of new product releases for 2025, with the release of the iPhone 17 slated for September.
In the short term, Apple appears to be turning to India as an alternative to mitigate the impact of the tariffs. The company reportedly loaded flights from India with iPhones before the tariffs went into effect, allegedly lobbying Chennai International Airport authorities to cut down customs from 30 hours to six hours to speed up the airlift.
So far, Apple hasn’t made any official announcements on potential price adjustments.
The company managed to secure an exemption when Trump imposed tariffs in his first presidential term, but it’s unclear if the president will be swayed to grant a waiver again.
Amid stock market turbulence and a downturn in the tech sector, Google CEO Sundar Pichai reiterated the company’s commitment to substantial investment in developing its AI infrastructure and product line, reaffirming its plans to allocate a significant budget of US$75 billion towards capital expenditures.
The update came as the company convened at its Cloud Next conference, held this week in Las Vegas, Nevada. During the event, Google unveiled a suite of new AI services.
Among the many developments shared with attendees, Google Cloud and Samsung (KRX:005935) announced a strengthened partnership aimed at integrating Google Cloud’s advanced generative AI technology into Samsung’s Ballie, an innovative home AI companion robot slated to hit US and South Korean markets this summer.
This collaboration signifies the growing convergence of AI capabilities and home robotics, paving the way for a new era of intelligent and interactive home companions.
Samsung hasn’t announced pricing for Ballie, but tariffs could inflate costs. The 90 day pause and productive trade talks with South Korea, where Samsung has manufacturing locations, offer a glimmer of hope for consumers.
The landscape of electric vehicles (EVs) continues to evolve despite a shifting political backdrop.
This week saw reports that Zoox, Amazon’s robotaxi subsidiary, has begun testing its autonomous taxi services in Los Angeles, signaling the company’s confidence in its self-driving technology.
Meanwhile, TechCrunch reported that Slate Auto, a Michigan-based EV start-up with ties to Amazon, is going ahead with plans to begin production of an entry-level US$25,000 electric pickup truck as soon as next year.
The company has reportedly raised at least US$111 million and hired hundreds of employees from Ford (NASDAQ:FORD), General Motors (NYSE:GM), Stellantis (NYSE:STLA) and Harley-Davidson (NYSE:HOG).
According to the report, the company plans to supplement the truck’s small margins by selling aftermarket vehicle accessories and apparel. Slate hopes to begin production in Indiana by late 2026.
Adding to an influx of new EV players, Taiwanese manufacturing company Foxconn Technology (TPE:2354) announced its intention to bring two new battery EVs to the US market, with one slated to hit the markets in late 2025.
In the realm of driverless technology, Nissan Motor (TSE:7201) said Thursday that it will integrate self-driving technology developed by the UK’s Wayve in its ProPilot assisted driving feature starting next year.
These developments follow a Washington Post report earlier this week that found Americans’ interest in EVs is waning in the face of the Trump administration’s effort to pull back spending on EV infrastructure, including canceling a Biden-era initiative to build EV charging stations across the country and potentially repealing EV tax credits.
A Monday report from the Information suggests that OpenAI is in talks to acquire io Products, a hardware startup co-founded by the company’s CEO, Sam Altman, and former Apple design chief, Jony Ive.
According to the report, the startup has been collaborating with Ive’s design studio, LoveFrom, on the development of a new hardware device that would act as an interface between users and voice-enabled AI assistants.
While the two companies are reportedly exploring partnerships that don’t involve an acquisition, the potential deal could value io Products at up to US$500 million, according to the report.
In other developments, OpenAI countersued Tesla (NASDAQ:TSLA) CEO Elon Musk on Wednesday, citing ongoing harassment since the startup began transitioning toward a for-profit structure in 2023.
“Through press attacks, malicious campaigns broadcast to Musk’s more than 200 million followers on the social media platform he controls, a pretextual demand for corporate records, harassing legal claims, and a sham bid for OpenAI’s assets, Musk has tried every tool available to harm OpenAI,” the company wrote in a court filing.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
White House envoy Steve Witkoff was in Russia on Friday to meet with Russian President Vladimir Putin after peace talks with Ukraine stalled out in recent weeks, ‘frustrating’ President Donald Trump.
‘This is another step in the negotiating process towards a ceasefire,’ White House press secretary Karoline Leavitt said of the meeting. ‘I think the president has been quite clear that he’s been continually frustrated with both sides of this conflict, and he wants to see this fighting, and he wants the war to end.’
Russian media broadcast images of Putin and Witkoff meeting at the presidential library in St. Petersburg.
Leavitt said the U.S. had ‘leverage’ over Ukraine and Russia to pressure them to agree to peace.
‘We believe we have leverage in negotiating a deal… And we’re going to use that leverage. And the president is determined to see this through,’ Leavitt said.
Trump has demanded that both sides agree to an immediate 30-day ceasefire while they hash out a longer peace deal. Ukraine has agreed to this, while Russia has not. President Volodymyr Zelenskyy claimed Ukraine had found two Chinese men fighting on behalf of Russia within their borders, a development that would suggest Russia is receiving direct manpower aid from both North Korea and China.
Zelenskyy said at least 155 Chinese citizens were fighting for Russia as he accused Putin of ‘prolonging the war’ — a claim the Kremlin denied Thursday, stating that China takes a ‘balanced position’ to the war and that ‘Zelenskyy is wrong.’ Fox News Digital has reached out to the Russian Ministry of Defense for further comment.
Ahead of Witkoff’s meeting with Russian officials, Trump ramped up pressure on Putin, writing on Truth Social: ‘Russia has to get moving. Too many people are DYING, thousands a week, in a terrible and senseless war – a war that should have never happened, and wouldn’t have happened, if I were President!!!’
Trump said on March 31 that he was ‘pissed off’ with the Russian leader and threatened to put ‘secondary tariffs’ on Russia’s oil exports, its financial lifeline for the war effort. That could mean sanctioning countries that buy Russian oil or cracking down on its ‘shadow fleet’ of tankers carrying oil across the globe in disguise.
Trump has previously aired out complaints about Zelenskyy, too, calling him a ‘dictator without elections.’ A public White House meeting last month erupted into a near-shouting match where Zelenskyy abruptly left the premises.
Ukraine agreed to both the unconditional ceasefire and a more tailored maritime ceasefire, but Russia has made a fresh round of demands, including the lifting of some sanctions.
‘We are making progress. We hope that we are getting relatively close to getting a deal between Russia and Ukraine to stop the fighting,’ Trump said during a Cabinet meeting on Thursday.
The U.S. and Russia carried out a prisoner exchange deal that saw the return of ballerina and U.S.-Russian citizen Ksenia Karelina to the U.S. on Friday. Karelina was sentenced to 12 years in prison at the start of the war in 2022 for donating $51 to a Ukrainian charity.
On Thursday, U.S. and Russian officials met in Istanbul to discuss reopening operations at each other’s embassies.
The St. Petersburg gathering is Witkoff’s third meeting with Putin this year. Over the weekend he will head to Oman to negotiate with Iran in nuclear talks.
Ahead of Friday’s meeting, Kremlin spokesman Dmitry Peskov said there was ‘no need to expect breakthroughs’ and the ‘process of normalizing relations is ongoing.’
Reuters contributed to this report.
President Trump said on Friday that the first physical examination of his second term went well, and overall he feels he’s in ‘very good shape.’
The president told reporters on board Air Force One while en route to his home in West Palm Beach Friday evening that the yearly presidential physical at Walter Reed Medical Center showed he has a ‘good heart, a good soul,’ and ‘overall, I think I’m in very – I felt I was in very good shape.’
He also took a cognitive test.
‘I don’t know what to tell you other than I got every answer right,’ the president told reporters.
He added, ‘I think it’s a pretty well-known test. Got it all right. I’ve taken the cognitive test, I think, four times and gotten nothing wrong. That’s what the American people want. Biden refused, Kamala refused.’
He also said that doctors gave him ‘a little bit’ of advice on lifestyle changes that could improve his health without going into detail.
Biden’s yearly presidential exam at Walter Reed last year didn’t include a cognitive test.
The former president’s mental abilities became a concern during the presidential election last year after he struggled in a June debate against Trump, which led to former Vice President Kamala Harris taking over as the Democratic nominee.
Trump said he expected the report from the exam to be released by Sunday.
The president was at Walter Reed for five hours undergoing ‘every test you can imagine.’
‘I was there for a long time,’ Trump said. ‘I think I did very well.’
White House press secretary Karoline Leavitt said Friday that a readout of the exam would be released ‘as soon as we possibly can.’
The White House earlier this week promised to release the full results of Trump’s examination.
‘I have never felt better, but nevertheless, these things must be done!’ Trump wrote on Truth Social before the exam earlier this week.
The exam was also his first presidential physical since his ear was grazed by a bullet during an assassination attempt at a campaign rally in Butler, Pennsylvania, in July.
Both Biden and Trump’s health have come under increased scrutiny as they are the two oldest U.S. presidents to ever serve, and Trump became the oldest president to be sworn into office in January.
At least 26 Americans held hostage abroad have been freed since President Donald Trump entered the Oval Office in January. Those who gained their freedom include a ballerina, a teacher and a mechanic, among others.
On Jan. 21, 2025, just one day after Trump’s second term began, Ryan Corbett and William McKenty were released from Taliban captivity in Afghanistan. While Corbett and McKenty were freed under Trump, the deal that secured their release was completed by the Biden administration.
Corbett and his family moved to Afghanistan in 2010, where they lived in Kabul and Jalalabad. According to a website set up by his family, Corbett did work for NGOs, which focused on education, birth and life-saving skills. He also started a project in 2017, Bloom Afghanistan, with the goal of strengthening the country’s private sector. In 2021, the Corbett family evacuated as the Taliban took control of the country. Corbett returned to Afghanistan a year later and was captured by the Taliban, which his family suspects was because of his ‘value as political leverage.’
There aren’t many details on McKenty or exactly why he was in Afghanistan. According to the BBC, his family asked for privacy.
Anastasia Nuhfer, who was detained in Belarus during the Biden administration, gained her freedom Jan. 26, 2025. While Secretary of State Marco Rubio announced Nuhfer’s release, he did not give details on when she was detained or why. However, according to The Associated Press, a former high-ranking Belarusian official said the arrest was linked to 2020 protests against Belarusian President Alexander Lukashenko.
Special envoy Ric Grenell secured the release of six Americans after meeting with Venezuelan President Nicolás Maduro. Grenell posted a photo of himself and the men on a plane and said that they ‘couldn’t stop thanking’ Trump when speaking to him on the phone. The men were not identified.
After spending 484 days as a hostage in Gaza, Keith Siegel was released as part of a ceasefire deal Feb. 1, 2025. Siegel was taken from Kibbutz Kfar Aza during Hamas’ Oct. 7 attacks. His wife, Aviva, was also taken hostage but was released in November 2023.
On April 8, Siegel, who has credited Trump with saving his life, thanked the president during an NRCC event in Washington, D.C.
‘President Trump, I am here, and I am alive. President Trump, you saved my life,’ Siegel said. He also asked Trump to continue working to secure the freedom of the 59 remaining hostages in Gaza.
American schoolteacher Marc Fogel was released from Russian captivity Feb. 11, 2025, more than three years after he was detained. Fogel was carrying less than one ounce of medical marijuana, according to his family’s website, which he used for severe pain. The Fogel family criticized former President Joe Biden’s handling of Marc’s case, especially in light of his work to release WNBA player Brittney Griner, who was also arrested for having marijuana.
On July 13, 2024, Fogel’s mother, Malphine, attended a Trump rally in Butler, Pennsylvania, Marc’s hometown. She spoke with Trump, who promised to bring her son home.
Trump invited Marc and Malphine to attend his address to a joint session of Congress in March 2025.
On Feb. 12, 2025, Secretary of State Marco Rubio announced that an American ‘unjustly detained in Belarus’ had been released. The statement did not include details or identifying information about the hostage. In a press release, Rubio affirmed the administration’s commitment to releasing Americans held hostage across the globe.
On Oct. 7, 2023, Israeli American Sagui Dekel-Chen was taken hostage by Hamas terrorists from his home at Kibbutz Nir Oz. He was shot in the shoulder during the massacre and endured torture while in captivity.
Dekel-Chen spent almost 500 days as a hostage in Gaza and gained his freedom in February 2025. While he was in captivity, his wife gave birth to their third child. He only learned about his daughter’s birth after being released.
On March 13, 2025, 10 unidentified Americans, including veterans and military contractors, were released from captivity in Kuwait. According to The Associated Press, the American citizens were detained on drug charges.
Delta Airlines mechanic George Glezmann spent more than two years as a hostage in Gaza after being detained by the Taliban in December 2022. According to senators John Ossoff and Raphael Warnock, both Democrats from Georgia, Glezmann went to ‘Afghanistan for a five-day trip to explore the cultural landscape and rich history of the country.’ The two senators advocated for Glezmann’s release, which eventually occurred March 20, 2025.
The Taliban released Faye Hall in March 2025, though it is unclear when she was detained. CBS News reported that Hall was arrested on charges of using a drone without authorization.
The Trump administration posted a video of Hall thanking the president for her release. In the video, Hall said she had ‘never been so proud to be an American citizen.’
Russian American ballet dancer Ksenia Karelina was released from detention April 10, 2025, after being wrongfully detained for over a year. Karelina was arrested and sentenced to 12 years in a penal colony after donating approximately $50 to a Ukrainian charity.
‘Mr. Trump, I’m so, so grateful for you bringing me home,’ a teary-eyed Karelina said upon her arrival in the U.S. ‘I never felt more blessed to be American.’
Christopher Guly contributed to this report.
Delegates from the United States and Iran are holding talks in Oman on Saturday in a delicate effort to restart negotiations over Tehran’s controversial nuclear program.
The talks, between a mediator to Iran’s Foreign Minister Abbas Araghchi and U.S. Mideast envoy Steve Witkoff, come nearly seven years after President Donald Trump unilaterally withdrew the U.S. from Tehran’s nuclear deal with world powers in 2018. Since then, indirect talks between the two adversaries have made zero progress.
Trump has imposed new sanctions on the Islamic Republic as part of his ‘maximum pressure’ campaign and has suggested military action remained a possibility. Despite this, the president has said he still believed a new deal could be reached by writing a letter to Iran’s 85-year-old Supreme Leader Ayatollah Ali Khamenei, which he sent early last month.
Khamenei, meanwhile, has warned that Iran would respond to any U.S.-led attack with an attack of its own.
‘They threaten to commit acts of mischief, but we are not entirely certain that such actions will take place,’ the supreme leader said. ‘We do not consider it highly likely that trouble will come from the outside. However, if it does, they will undoubtedly face a strong retaliatory strike.’
Iranian Foreign Ministry spokesperson Esmail Baghaei called such threats against Iran ‘a shocking affront to the very essence of International Peace and Security.’
‘Violence breeds violence, peace begets peace. The US can choose the course…; and concede to CONSEQUENCES,’ he wrote on X.
Iranian President Masoud Pezeshkian has rejected direct negotiations with the United States over Tehran’s nuclear program.
‘We don’t avoid talks; it’s the breach of promises that has caused issues for us so far,’ Pezeshkian said in televised remarks during a Cabinet meeting. ‘They must prove that they can build trust.’
Once allies, both countries have been hostile to one another for nearly half a century, following the 1979 Islamic Revolution that saw the creation of a theocratic government led by Grand Ayatollah Ruhollah Khomeini.
Shah Mohammad Reza Pahlavi, whose rule was cemented in a CIA-led coup in 1953, had fled Iran before the revolution, ill with cancer, as demonstrations swelled against his rule. Late in 1979, university students overran the U.S. Embassy in Tehran, seeking the shah’s extradition and sparking the 444-day hostage crisis that severed diplomatic relations between Iran and the U.S.
In the decades since, Iran-U.S. relations have see-sawed between enmity and grudging diplomacy, with relations peaking when Tehran made the 2015 nuclear deal with world powers before Trump withdrew from the deal, sparking more tensions in the Mideast that persist today.
Under the original 2015 nuclear deal, Iran was allowed to enrich uranium up to 3.67% purity and to maintain a uranium stockpile of 661 pounds. The last report by the International Atomic Energy Agency on Iran’s program put its stockpile at 18,286 pounds as it enriches a fraction of it to 60% purity.
U.S. intelligence agencies assess that Iran has yet to begin a weapons program, but has ‘undertaken activities that better position it to produce a nuclear device, if it chooses to do so.’
Iran has insisted for decades that its nuclear program is peaceful. However, its officials increasingly threaten to pursue a nuclear weapon. Iran now enriches uranium to near weapons-grade levels of 60%, the only country in the world without a nuclear weapons program to do so.
The Associated Press contributed to this report.