US Navigates Trade Tensions and Social Media Reform Amidst Economic Challenges

Debt, D-Day and Doomscrolling: Week in Review

The U.S. is mired in trade tensions, and a landmark settlement case promises social media reform.

By Stella Garner

Monday

Tim Smart filled in for Olivier on Monday to discuss the national debt topping the $40 trillion threshold. Interest rates are likely to remain elevated as the debt grows and, as Tim writes, there isn’t the political will to fix it. Most measures – such as Treasury Secretary Scott Bessent’s effort to lower long-term yields last week – only offer short-term relief.

While U.S. debt remains in high demand as a reliable asset in an unpredictable economy, there are signs that buyers are losing optimism about the nation’s economic future. Without a robust economic plan or the political will to enforce one, expect the cost of living to keep rising.

The U.S. Is $40T in Debt. What Now? \n The national debt hit a record last week. It won’t be getting smaller anytime soon.

Tim Smart Aug. 24, 2026

Tuesday

On Tuesday, Olivier analyzed potential responses to the U.S. promise of an “economic D-Day” against Iran: a new wave of sanctions targeting the country and its trading partners.

The move sets up a standoff between the U.S. and China, Iran’s largest trading partner, which could reveal just how much each nation values the U.S.-China relationship. And it raises the question of how Iran will push back. The country is continuing to mount regional attacks on U.S. and allied forces, as well as cyberattacks that include American water systems.

Can Trump’s ‘Economic D-Day’ Beat Iran? \n The Trump administration is ratcheting up its economic war on Iran.

Olivier Knox Aug. 25, 2026

Wednesday

Olivier carried the focus on international relations into Wednesday, where he chronicled the escalating trade war between Canada and the U.S. Mutual tariffs will soon target everything from motorcycles to frozen octopus, meaning consumers on both sides of the border will feel the impact.

Despite having a far smaller economy, Canada supplies critical exports to the U.S., including electricity, fertilizer and oil. Ontario Premier Doug Ford has already floated cutting off U.S. access to those products. The heightened tension between the two countries, as Olivier noted, is just the latest example of angering longtime trade partners with volatile policies.

What a Canada Trade War Costs You \n When neighbors go to (trade) war, it gets ugly for people on both sides of the border.

Olivier Knox Aug. 26, 2026

Thursday

On Thursday, Olivier covered the concessions Meta made in a landmark settlement case – and the caveats that remain. The parent company of Instagram and Facebook will pay up to $18 billion to settle lawsuits from 48 states, the District of Columbia and U.S. territories. Meta promised a five-year commitment to sweeping changes as part of the settlement, including two-hour daily time limits, an activity block at nighttime and limited access during school hours.

However, the messaging features on these apps are not subject to the new reforms. Meta is also putting pressure on TikTok and YouTube to adhere to similar restrictions; 30% of the payout, about $5.3 billion, is contingent on TikTok and YouTube agreeing to implement one-hour daily limits and a “night mode.” Assuming they do, Meta will reduce its time limit to one hour and expand the period covered under the “night mode.” As social media companies face mounting lawsuits in the U.S. and abroad, more reform drama is likely to follow.

Massive Meta Settlement Has Big Ifs \n Some payments and limitations only take effect if Meta rivals sign on as well.

Olivier Knox Aug. 27, 2026