Commerce struggle is alternative for Latin America

MercadoLibre CEO Marcos Galperin

CNBC

The CEO of Argentina’s MercadoLibre — often called the Amazon of Latin America — sees big opportunity for Latin America in the U.S.-China trade war.

“If Latin America plays its cards well, I think could benefit from this volatility,” MercadoLibre CEO and founder Marcos Galperin told CNBC’s Robert Frank on the sidelines of Riverwood Capital Management’s LatAm Tech Forum in Miami.

Galperin is Argentina’s richest person with an $8.7 billion fortune by Forbes’ estimate.

Shares of MercadoLibre, an e-commerce and payments firm, have surged by nearly 30% this year, while Amazon, facing massive exposure to President Donald Trump’s wide-sweeping tariffs, is down 15%.

Galperin told CNBC that Latin American firms, especially in Mexico, stand to gain from escalating tensions between U.S. and one if its chief trade partners. He noted that many American companies have already moved their manufacturing operations to Mexico from China and other Asian countries.

Mexico has a free trade agreement with the U.S. that means some imports from the country are exempt from Trump’s tariffs of as much as 25% on Mexican goods.

The U.S. president has hit China hardest, however, with a 145% tariff rate on Chinese goods.

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Galperin said Friday he believes there will be a “permanent shift” in U.S.-China trade relations.

“I don’t know how it’s going to end, but I think the situation where everything was manufactured in China and was consumed in the U.S., and China bought T-bills and in a way financed that, I think that dynamic is kind of over,” he said.

Argentina, Galperin’s home country, has a long history of protectionist policies including high tariffs. Argentine president Javier Milei, who has described Trump as an ally, has slashed tariffs and import restrictions since his inauguration in late 2023.

“I think what Milei is doing is great for Argentina,” Galperin said of the free-market reforms.

However, he warned there will be growing pains.

“I hope it works,” he said. “Changes are painful, and I hope that people have the patience and the time to give him to see that these changes in the medium and long term really create benefits for for everyone.”

Rachel Maddow Slays Trump’s Dictator Fable With A Sword Of Incompetence

PoliticusUSA is standing tall and never bending the knee. Please support our work by becoming a subscriber.

There is a difference between wanting to do something and being able to do something well. For example, the difference between being a professional athlete and wanting to be a professional is athletic ability.

Video:

Sometimes the thought of wanting to be something is dangerous and bad.

Until 2025, the United States has never had a president who wanted to be a dictator. Trump wants to be a dictator so badly, but there is one significant problem.

Donald Trump is totally incompetent.

Rachel Maddow got an early jump on what will definitely be a billion Trump first 100 days retrospectives by saying:

 I think the first hundred days have given us one very clear lesson, right? We know he’s trying for the whole dictator thing. You know, no elections, no courts, no resistance rule by terror, right? We know that. We know the people of this country aren’t having it, but I think what we should also know, what we have just lived through in this first 90 plus days thus far, is him screwing up.

It is him absolutely blowing it. I mean, it is one thing to understand the gravity of his intentions, but I think it is equally important to recognize that he’s really bad at everything he tries to do. I don’t know if he’s bad at good stuff he tries to do ’cause he is not trying to do much that seems good, but the bad stuff he’s trying to do, he’s been real bad at that.

I mean, it hasn’t been funny. Exactly. It’s too disgusting for that. But it has been the proverbial comedy of errors.

Rachel Maddow then spent the bulk of her segment running through all of the various incompetent things that the second Trump administration has done and how they have had to walk them back.

Dozen states sue Trump in bid to dam new tariffs

NY Attorney General Letitia James speaks during a press conference on Feb. 14, 2025 in New York City.

Michael M. Santiago | Getty Images

A dozen states sued President Donald Trump and his administration on Wednesday, seeking a court order declaring that his new tariffs on foreign imports are illegal.

“The president does not have the power to raise taxes on a whim, but that’s exactly what President Trump has been doing with these tariffs,” New York Attorney General Letitia James said in a statement on the lawsuit.

The suit was filed in the U.S. Court of International Trade in Washington, D.C.

It argues that a president has no authority to arbitrarily impose tariffs under the International Emergency Economic Powers Act, the U.S. law that Trump has cited in executing his tariff policy.

The civil complaint comes more than a week after a group of five small businesses filed a similar lawsuit against Trump in the same court, challenging the legality of the new tariffs on the same grounds.

On Tuesday, a three-judge panel in the court denied a motion by the plaintiffs in that case seeking a temporary restraining order that would suspend Trump’s new tariffs pending the outcome of the case.

In addition to New York, the plaintiffs in the new lawsuit filed Wednesday include Arizona, Colorado, Connecticut, Delaware, Illinois, Maine, Minnesota, New Mexico, Oregon, and Vermont.

“Not once has any other President used IEEPA to impose tariffs. In the nearly five decades since IEEPA was enacted, no other President has imposed tariffs based on the existence of any national emergency, despite global anti-narcotics campaigns spearheaded by the United States and longstanding trade deficits,” the states’ suit says.

“Because these tariffs are unlawful, this Court should declare that they are not in force, enjoin the Defendant agencies and officers from enforcing them, and vacate the agency actions implementing them.”

CNBC has requested comment from the White House on the lawsuit.

Since taking office, Trump has issued a series of executive orders imposing a range of tariffs on foreign imports, including a 145% tariff on products made in China, and tariffs of 25% on products from Canada and Mexico. Imports from most of the other countries in the world were slapped with a 10% tariff by Trump.

“The Constitution assigns to Congress, not the President, the ‘Power To lay and
collect Taxes, Duties, Imposts and Excises,’ ” the suit says.

“By claiming the authority to impose immense and ever-changing tariffs on whatever goods entering the United States he chooses, for whatever reason he finds convenient to declare an emergency, the President has upended the constitutional order and brought chaos to the American economy,” the suit says.

Arizona Attorney General Kris Mayes said, “President Trump’s insane tariff scheme is not only economically reckless – it is illegal.”

“Arizona cannot afford President Trump’s massive tax increase. No matter what the White House claims, tariffs are a tax that will be passed on to Arizona consumers,” Mayes said.

FDA proclaims meals dye ban

Candy is displayed for sale, as U.S. Health and Human Services (HHS) Secretary Robert F. Kennedy, Jr., along with FDA Commissioner Marty Makary, announce the FDA’s intent to remove from the U.S. food supply “petroleum-based synthetic” food dyes, which are present in numerous foods such as breakfast cereals, candy, snacks, and beverages, at a grocery store in Medford, Massachusetts, U.S., April 22, 2025.

Brian Snyder | Reuters

The fluorescent red of Flamin’ Hot Cheetos, the brilliant teal of Mountain Dew Baja Blast and the colorful rainbow of Skittles may soon be dimmed.

The Food and Drug Administration is phasing out the use of petroleum-based synthetic dyes by the end of next year, the agency announced on Tuesday.

“For the last 50 years, American children have increasingly been living in a toxic soup of synthetic chemicals,” FDA Commissioner Marty Makary said at a press conference.

Food and beverage companies use additives like red dye 40 to give cereal, chips, sports drinks and other products bright hues that attract shoppers. But backlash against artificial colorants has been brewing in the U.S. for more than a decade.

The changes will affect a slew of food giants, including PepsiCo, General Mills, Mars and WK Kellogg. The industry has argued that the claims about the dangers of artificial dyes lack evidence that would support any bans.

As of Tuesday, the FDA and the food industry don’t have a formal agreement to remove artificial dyes but instead “an understanding,” according to Health Secretary Robert F. Kennedy Jr. It is unclear what enforcement actions the agency would take if food and beverage companies do not comply.

“There are a number of tools at our disposal,” Makary said. “I believe in love, let’s start in a friendly way and see if we can do this without any statutory or regulatory changes, but we are exploring every tool in the toolbox to make sure this gets done very quickly. And they want to do it — so why go down a complicated road with Congress?”

The FDA is taking several actions, including setting a “national standard” and timeline for the food industry to transition from petroleum-based food dyes to natural alternatives, according to Makary. The agency is also initiating a process to revoke authorization of synthetic food colorings, including those not in production, within the coming weeks.

He added that the FDA is also eliminating the remaining six synthetic dyes on the market from the U.S. food supply by the end of the year, specifically red dye 40, yellow dye 5, yellow dye 6, blue dye 1, blue dye 2 and green dye 2. It is also requesting food companies to phase out red dye 3 by the end of next year, which is sooner than the 2027 to 2028 deadline previously announced, according to Makary.

“For companies that are currently using petroleum based red dye, try watermelon juice or beet juice. For companies currently combining petroleum-based yellow chemical and red dyes together, try carrot juice,” he said. 

U.S. Food and Drug Administration (FDA) Commissioner Marty Makary holds up a study from The Lancet during an announcement of the FDA’s intent to phase out the use of petroleum-based synthetic dyes in the nation’s food supply during a press conference at the Department of Health and Human Services in Washington, D.C., U.S., April 22, 2025. REUTERS/Elizabeth Frantz

Elizabeth Frantz | Reuters

Makary added that the agency plans to authorize four additional color additives using natural ingredients in the coming weeks, while also expediting the review and approval of other natural ingredient colors.

Makary cited a Lancet study that concluded that artificial colors in the diet “result in increased hyperactivity.”

“The F in FDA stands for food,” he said. “Now, there’s no one ingredient that accounts for the child chronic disease epidemic. And let’s be honest, taking petroleum-based food dyes out of the food supply is not a silver bullet that will instantly make America’s children healthy, but it is one important step.”

Last month, Kennedy told top food executives that removing artificial dyes from the food system is an urgent priority of the Trump administration. Meeting attendees included the CEOs of PepsiCo North America, Kraft Heinz, General Mills, Tyson Foods, WK Kellogg, J.M. Smucker and the Consumer Brands Association, the industry’s top trade group.

Kennedy has used Kellogg’s Froot Loops as his primary example when railing against artificial colorants.

While it is unclear exactly how removing dyes could affect the companies’ businesses, it will be a major effort to overhaul recipes — and the new looks could affect how consumers perceive the products.

Makary said phasing out petroleum-based food dyes won’t increase food prices, pointing to other countries that have made similar moves. However, synthetic dyes are generally more cost-effective than natural alternatives, which often require larger quantities to achieve vibrant colors and can carry higher production costs, according to some reports and one natural ingredient manufacturer.

Previously, pushback from consumer advocates led some of the companies to tweak their formulas and drop artificial dyes without any government intervention. In 2015, Kraft Heinz changed the recipe of its trademark mac and cheese to use the same natural colors found in the European version of the product.

But the changes don’t always stick. In 2017, General Mills reversed course, putting its artificially colored Trix cereal back on shelves. The naturally dyed cereal, which used turmeric, radishes and purple carrots, was not as vibrant, and customers rejected the new version.

Kennedy is at the helm of a $1.7 trillion agency that oversees food and tobacco products, vaccines and other medicines, scientific research, public health infrastructure and government-funded health care. After just two months on the job, he has drastically changed the nation’s federal health agencies. 

U.S. Health and Human Services (HHS) Secretary Robert F. Kennedy, Jr. leaves the stage after discussing the findings of the Centers for Disease Control and Prevention’s (CDC) latest Autism and Developmental Disabilities Monitoring (ADDM) Network survey, at the Department of Health and Human Services in Washington, D.C., U.S., April 16, 2025.

Elizabeth Frantz | Reuters

In March, he announced plans to slash 10,000 full-time employees across different departments and consolidate divisions. He has cut back crucial parts of HHS, including offices that handle HIV prevention efforts and work to eliminate health-care disparities. The Food and Drug Administration is also suspending a quality control program for testing fluid milk and other dairy products due to reduced capacity in its food safety and nutrition division, Reuters reported on Tuesday.

Kennedy’s so-called Make America Healthy Again platform argues a corrupt alliance of drug and food companies and the federal health agencies that regulate them are making Americans less healthy. He has pledged to end the chronic disease epidemic in children and adults, and has been vocal about making nutritious food, rather than drugs, central to that goal.

In January, before President Donald Trump or Kennedy took office, the Food and Drug Administration revoked its authorization of one type of red food dye called Red No. 3. The dye is known to cause cancer in laboratory animals, but food manufacturers were allowed to use it for years because scientists didn’t believe it raised the risk of cancer in humans at the level it is typically consumed.

At least one company is benefitting from the ban on artificial dyes: McCormick, which helps companies tweak their flavors and formulas.

“Now, reformulation activity has always been a part of the work that we do with our customer base, and we’ve been doing that for quite some time, but we are seeing a tick up in reformulation activity,” McCormick CEO Brendan Foley told analysts on the company’s earnings call in late March, adding that companies are seeking help cutting both artificial colors and sodium from their products.

Kevin Gates Responds To Savannah & LeBron James (WATCH)

Kevin Gates has reacted following Savannah and LeBron James seemingly responding to his recent comments about their marriage.

RELATED: Whew! Social Media Drags Kevin Gates After He Calls Out Savannah’s Lack Of Thirst For LeBron James (VIDEO)

Kevin Gates Responds Following Savannah & LeBron James’ Apparent Reactions To His Comments On Their Marriage

On Sunday, April 20, Gates uploaded a clip via Instagram Reels. In the video, he appeared to be driving while vibing to one of his songs alongside his bae, Brittany Renner. As the clip rolled, the rapper explained that he just wanted to say “one thing.”

“The truth hurts, but it heals,” he said. “And ‘Bron, I love you ’cause you my n***a. And I already know she [Savannah] was [like], ‘Oh, you just gon’ let him talk to me [like that.]’ But behind closed doors, you was like, ‘Good game.’”

Gates went on to seemingly explain that he doesn’t care how his comments may have been perceived by Savannah, as long as LeBron is now “being celebrated.”

“As long as you being celebrated, I don’t care who don’t like me,” he said. “As long as you being celebrated — that’s all I care about ’cause you my n***a and I love you.”

Furthermore, Gates captioned the clip with, “@kingjames, I’m way less than a peasant, im a simple servant of #Allahand I love you…”

Peep the clip he shared below.

Social Media Weighs In

Social media users reacted to Kevin Gates’ latest set of comments in The Shade Room’s comment section.

Instagram user @thelovelee_rn wrote, “Trying to cause chaos in another man’s household all because you’ve messed yours up is weird asl”

While Instagram user @breewithae added, “Kevin, imma hold your hand when I say this, Dreka was your Savannah. You are projecting.”

Instagram user @dominiquechinn wrote, “LeBron and Savannah be minding their married business.”

While Instagram user @bossmanboyd44 added, “Rule 1. Never speak on another man business and especially not when he has more money than u. #datslaw”

Instagram user @rayuanaaleyce wrote, “Ion want no man of mine to talk this much. Very feminine.”

While Instagram user @whitmyprettyself added, “I understand more and more why Dreka got tf on and don’t talk to nobody but them animals on that farm and them kids 😑”

Instagram user @queenweba wrote, “Lebron at this point you gotta hook Dreka up with one of your homeboys. It’s only right.”

While Instagram user @remiheavens added, “He So Bored With Brittany He Looking For Interest In Other Folks MARRIAGES 😂”

Instagram user @nikkibthebrand wrote, “Anything to get attention! These new attention-seeking men are just embarrassing and far from entertaining! NEXT story!”

While Instagram user @courtneyy.danielle added, “Life coach????? Guru?????? More like DELULU!!!!”

Instagram user @andaluztheartist wrote, “Speaking on a married man’s relationship that you don’t even know is strange. Especially one that takes care of his family. There’s a difference between love and lust. This is the difference between a grown man and a boy.”

More On The Back & Forth Between Kevin Gates, Savannah & LeBron James & How Dreka Gates Has Reacted — Or NOT

As The Shade Room previously reported, Kevin Gates threw the internet into a frenzy last week. At the time, he spoke about Savannah James and accused her of having a lack of interest in her husband. Furthermore, Gates even went so far as to say that “white women” show more interest in LeBron James.

In turn, Savannah James apparently caught wind of Gates’ words and seemingly reacted with a throwback clip of Nicki Minaj on livestream, telling fans, “Um, chileeee anyways so!”

Shortly after, LeBron appeared to also throw subtle shade Gates’ way. Furthermore, he took to Instagram to share a photo of himself and Savannah with the caption, “‘Kings don’t concern themselves with the opinions of peasants.’ Where to next Queen?!?! Let’s get it! 👸🏾🖤♾️”

Savannah and LeBron James’ apparent response led to Gates’ sharing his most recent comments. However, amid the fiasco, Dreka Gates has also caught the internet’s attention — but not for sharing her thoughts on the matter, instead, for staying quiet amid it all (including Gates’ apparent new romance with Brittany Renner).

On Sunday, April 20, Dreka Gates shared a post on Instagram with a photo of herself reading in bed.

“Late night reads and my sleep support 🌿,” she wrote in the caption of the post, which also featured the quote. “The healer you have been looking for is your own courage to know and love yourself completely.”

RELATED: Oop! Savannah James Seemingly Responds After Kevin Gates Comes For Her & LeBron’s Marriage (VIDEO)

What Do You Think Roomies?

Canadian small companies are taking Trump’s tariffs personally

Close-up of ‘Shop Canadian’ poster displayed in a local storefront in Edmonton, Alberta, Canada, on April 4, 2025.

Artur Widak | Nurphoto | Getty Images

Just across the U.S.-Canada border, some small businesses are taking tariffs personally.

President Donald Trump has said his wide-sweeping tariffs, even on some of the country’s closest trade partners, will rebalance international trade and bring manufacturing back stateside. But for the U.S.’s northern neighbors, tariffs may mean an erosion of trust.

The country’s trade relationship with Canada has historically been integral to both national economies. In 2024, the trade of goods between both nations totaled $762.1 billion. According to the Office of the United States Trade Representative, Canada exported over three-quarters of its goods to the U.S. last year, and U.S. imports accounted for almost half of all goods it brought in.

Starting in March, however, the Trump administration implemented a 10% tariff on Canadian energy and 25% tariffs on other imports from Canada and Mexico, a levy he’d promised on Inauguration Day. But he exempted many imports covered under the United States-Mexico-Canada agreement.

Trump also put a 25% tariff on vehicles not assembled in the U.S. that took effect earlier this month, a move that affects both Mexico and Canada, two major auto production hubs. In addition, a 25% tariff on auto parts is set to take effect next month.

Canada has responded with its own retaliatory tariffs, but national pride has sparked another kind of resistance.

Balzac’s Coffee Roasters highlights Canadian patriotism on its cafe menus.

Matthew Mikrut | CNBC

Balzac’s Coffee Roasters, a chain of cafes across Ontario and Toronto, has responded to trade tensions with a renamed menu item: the Americano — a commonplace espresso drink — is now a maple leaf-marked “Canadiano.”

Your Independent Grocers, a chain of independently owned supermarkets under the Canadian-traded Loblaw Companies, uses its own maple leaf badge to indicate products “prepared in Canada.” The grocer also indicates tariff-impacted items with a “T” logo in stores and online. 

Aisles at Your Independent Grocer in Niagara-on-the-Lake in Canada.

Cameron Costa | CNBC

Corinne Pohlmann is the executive vice president of advocacy at the Canadian Federation of Independent Business, of CFIB, which represents over 100,000 small businesses across 12 of Canada’s 13 territories and provinces.

About half of CFIB members are directly involved in either importing or exporting from the U.S., according to the organization’s December 2024 survey. That metric does not include reliance on suppliers and customers who are also trading with the U.S.

More than a quarter of CFIB members surveyed in late March reported seeing stronger demand for Canadian-owned products. More than half of the surveyed businesses agreed that the U.S. is not a reliable trading partner. 

The trade tensions have extended to some long-standing relationships between U.S. and Canadian small businesses, she said, as entrepreneurs decide which side of the border will absorb the costs of new tariffs. Pohlmann recalled some CFIB members asking for guidance on how to renegotiate contracts with partners to the south.

Pohlmann said the tariffs are causing emotional distress, in addition to cost increases.

“For a lot of Canadians, it felt like a betrayal,” Pohlmann said.

The Liquor Control Board of Ontario halted its purchases of U.S. products starting on March 4. The LCBO retail store in Niagara-on-the-Lake displays signage that reads, “For the good of Ontario, for the good of Canada,” explaining the disappearance of U.S.-made products like California wines and Tito’s Vodka. 

A worker removes bottles of American-made wine from a shelf at the Liquor Control Board of Ontario (LCBO) Queen’s Quay store in Toronto, Ontario, Canada, on Tuesday, March 4, 2025.

Christopher Katsarov Luna | Bloomberg | Getty Images

It’s not always clear cut, though.

A representative for LCBO press clarified via email to CNBC that any product made in Canada, like locally produced Coors Light beer, is OK to grace shelves, regardless of the company’s ownership.

Molson Coors has production facilities in both Canada and the U.S.

“While we are a global business, our beers and beverages are generally made in the markets in which they are sold,” said Molson Coors Senior Director of Communications Rachel Gellman Johnson.

Tariffs are typically a tool of “hard power,” prompting geopolitical change by coercion. The U.S.’s long-standing relationships with trading partners like Canada, Mexico and Japan have bolstered the country’s influence on the global stage.

Beyond the numbers, it’s U.S. influence, or so-called “soft power,” that may take a hit.

Former Secretary of State Antony Blinken told CNBC’s Andrew Ross Sorkin this month that a hit to the country’s soft power is his biggest fear in today’s environment.

“The idea that we would not only see China try to develop more soft power, but that we would cede our own…not good for the country, not good for our interests,” Blinken said.

Even if President Trump lessens tariffs, Canadian businesses may be hesitant to rebuild trading relationships with U.S. partners. CFIB’s Pohlmann pointed to lost contracts and eroded trust.

“While we’d welcome a permanent reprieve from tariffs, the trading relationship between Canada and the United States has been fractured and may never be the same again,” Pohlmann said.

U.S. proposes lighter sanctions on Russia as a part of peace plan with Ukraine: Bloomberg

Ukrainian servicemen operate a tank on a road near the border with Russia, in the Sumy region of Ukraine, on August 14, 2024. The Ukrainian army entered Russia’s Kursk region on August 6, capturing dozens of settlements in the biggest offensive by a foreign army on Russian soil since World War II. 

Roman Pilipey | Afp | Getty Images

The U.S. has presented allies with potential plans for peace between Russia and Ukraine that include an end to fighting and rolled-back sanctions on Moscow, according to Bloomberg News.

The U.S.’ proposals were shared in Paris on Thursday, European Union officials familiar with the situation told Bloomberg. French President Emmanuel Macron talked with U.S. envoy Steve Witkoff as part of the Paris talks, according to the news outlet. Additionally, U.S. Secretary of State Marco Rubio and other national security advisors talked with foreign negotiators.

As part of the U.S. plan, the yearslong war would be considered frozen, the EU sources told Bloomberg. Ukrainian areas currently occupied by Russia would stay under the Vladimir Putin-led country’s leadership, they said.

Ukraine would not enter the North Atlantic Treaty Organization, a military alliance better known as NATO, under the proposal, the sources said.

Russia can see pared back sanctions as part of this proposal, according to Bloomberg. But Bloomberg’s report noted that ending restrictions placed on the country from the EU, such as unfreezing immobilized assets, requires approval of all member states.

The plan would not be considered a final settlement between the two countries, one of the EU officials told Bloomberg. European allies would not recognize Russia-controlled territories of Ukraine as under Moscow’s rule, per the source.

That official also said that the plan will need to be talked about more with Ukraine.

Officials said Russia will need to agree to cease fighting and Ukraine will need security guarantees for a peace plan to be successful.

Read more at Bloomberg News.

Ukraine says it has signed the define of a minerals take care of the U.S.

Ukrainian Minister of Economic Development and Trade, Yulia Svyrydenko and the US Secretary of Treasury, Scott Bessent (not seen) sign the outline of a rare earth minerals deal over an online call, in Kyiv, Ukraine on April 17, 2025.

Anadolu | Anadolu | Getty Images

Ukraine said Thursday that it had signed the basis of a minerals deal with the U.S., although the details of the outline agreement are yet to be announced.

Yulia Svyrydenko, Ukraine’s minister of economic development and trade, said both sides had signed a “memorandum of intent” that was the basis of an agreement that is likely to see Ukraine and the U.S. jointly develop the country’s natural resources.

“We are happy to announce the signing, with our American partners, of a Memorandum of Intent, which paves the way for an Economic Partnership Agreement and the establishment of the Investment Fund for the Reconstruction of Ukraine,” Svyrydenko posted on social media platform X.

“There is a lot to do, but the current pace and significant progress give reason to expect that the document will be very beneficial for both countries,” she added.

Svyrydenko, who is also Ukraine’s deputy prime minister, gave no further detail on the contents of the outline deal but posted images of her and U.S. Treasury Secretary Scott Bessent purportedly signing the agreement.

U.S. Secretary of Treasury, Scott Bessent (C) signs the basis of a rare earth minerals deal on April 17, 2025.

Anadolu | Anadolu | Getty Images

Earlier Thursday, U.S. President Donald Trump and Bessent had told reporters that a comprehensive agreement would be signed next week.

“Well, we have a minerals deal, which I guess is going to be signed on Thursday — next Thursday [24 April]? Soon. And I assume they’re [Ukraine] going to live up to the deal, so we’ll see. But we have a deal on that,” Trump said at a press conference at the White House on Thursday.

Bessent added that “we’re still working on the details. We’re shooting for around April 26th.”

Asked for more details, the treasury secretary said the deal was “substantially what we agreed on previously [with Ukraine] … We went straight to the big deal, I think it’s an 80-page agreement, and that’s what will be signed.”

CNBC has asked the White House for further detail on the deal and is awaiting a response.

Trump has coveted a minerals deal with Ukraine since his inauguration in January, saying an agreement to jointly develop and monetize Ukraine’s deposits of rare earths, critical minerals, oil, gas and other natural resources would act, effectively, as compensation for U.S. aid to Ukraine throughout the war with Russia.

Ukrainian President Volodymyr Zelenskyy also signalled on Thursday that the outline of a deal had been reached, telling reporters, “this is a memorandum of intent. And we have positive, constructive intentions,” Reuters reported.

He added that the offer to sign the memorandum before the comprehensive deal, which would require the Ukrainian parliament to ratify it, had come from the U.S. side, the news agency noted.

Eli Lilly weight reduction tablet orforglipron clears first late-stage trial

Eli Lilly on Thursday said its daily obesity pill met the company’s goals in the first of several late-stage trials, helping patients with Type 2 diabetes lower their blood sugar and body weight and showing safety comparable with popular injections on the market. 

The trial results are among the pharmaceutical industry’s most closely watched studies of the year, as they bring Eli Lilly’s experimental pill — called orforglipron — another step closer to becoming a new, needle-free alternative in the booming weight loss and diabetes market. This more convenient, easier-to-manufacture pill could give Eli Lilly a major edge over Novo Nordisk and other rivals trying to enter the lucrative space.

The pill’s weight loss data, along with rates of side effects and treatment discontinuations, were in line with what some Wall Street analysts were expecting. But orforglipron fell short of some analysts’ estimates for a key diabetes metric.

Eli Lilly shares climbed 11% in premarket trading.

The highest dose of the pill helped patients lose 7.9% of their weight, or around 16 pounds, on average after 40 weeks. Eli Lilly also said patients saw no plateau in their weight loss by the time the study ended, suggesting they could lose more beyond that period.

Previous studies on the pill and existing injections have shown that patients with diabetes lose less weight than those without the condition, making it difficult to compare the data to that of drugs specifically for obesity. 

About 8% of patients who took the highest dose of the pill discontinued treatment due to side effects. Those side effects were mainly gastrointestinal — such as nausea and vomiting — and mild to moderate in severity. An estimated 14% of those who took the highest dose experienced vomiting, while 16% and 26% had nausea and diarrhea, respectively.

In a note earlier this month, TD Cowen analysts said they expected a discontinuation rate of 9%. Other analysts said they anticipated the side effects of the pill would be slightly worse than injections, given that it is taken daily instead of weekly. 

But the pill missed some analysts’ estimates for a key diabetes metric. It helped lower hemoglobin A1c — a measure of blood sugar levels — by an average of 1.3% to 1.6% across different doses at 40 weeks, from a starting level of 8%. That compares to a 0.1% reduction in patients who took a placebo during the same period. 

Some analysts were expecting a reduction of as much as 1.8% to 2.1%, which is in line with results in diabetes patients who took Novo Nordisk’s diabetes injection Ozempic. 

Still, Eli Lilly is “pleased to see that our latest incretin medicine meets our expectations for safety and tolerability, glucose control and weight loss, and we look forward to additional data readouts later this year,” the company’s CEO David Ricks said in a release. Incretin drugs mimic certain gut hormones to suppress a person’s appetite and regulate blood sugar.

There are seven late-stage studies on the pill, including five diabetes trials and two obesity studies. The company expects to file for regulatory approval of the pill for obesity by the end of the year, and for diabetes in 2026.

If approved, orforglipron could help more patients access treatment and alleviate the supply shortfalls of the popular injections on the market. The pill “could be readily manufactured and launched at scale for use by people around the world,” Ricks said in the release. 

The pill could also help Eli Lilly solidify its dominance in the growing segment as a slate of other drugmakers race to bring similar products to the market.

Offering the first oral version of a so-called GLP-1 could help Eli Lilly capture an even greater share of the market for that popular class of weight loss and diabetes drugs. Eli Lilly is currently about three years ahead of other drugmakers developing pills, including AstraZeneca, Roche, Structure Therapeutics and Viking Therapeutics, analysts told CNBC. 

Some analysts expect the market for GLP-1s to be worth more than $150 billion annually by the early 2030s. Oral GLP-1s could grow to be worth $50 billion of that total, according to some analyst estimates. 

Eli Lilly’s pill works in a similar way to Wegovy, Ozempic and Novo Nordisk’s diabetes pill Rybelsus, targeting a gut hormone called GLP-1 to suppress a person’s appetite and regulate blood sugar. 

But unlike those three medications, Eli Lilly’s pill is not a peptide medication. That means it is absorbed more easily by the body and does not require dietary restrictions like Rybelsus does.

Kourtney Kardashian, Travis Barker’s Son Rocky Seems in Coachella Images

Kourtney Kardashian and Travis Barker’s Son Rocky Makes Rare ‘The Kardashians’ Appearance

Travis Barker and Kourtney Kardashian‘s son is following in his dad’s footsteps. 

The blink-182 member shared a roundup of special moments from his appearance at 2025’s Coachella music festival, and the batch of memories included an adorable snap of Rocky Barker, 17 months, showing off his impressive drumming skills. 

In the photo shared to Instagram April 14, Rocky kneeled on a couch while wearing a white T-shirt and brown moccasin boots. Holding onto two large drumsticks, the little one practiced tapping out the beat on a small white circular table. 

Elsewhere in the carousel, Rocky’s dad impressed thousands of festival-goers with his own drumming talents. In another photo shared in the recap, the 49-year-old—donning a white graphic tee, black pants and a bandana underneath his fitted hat—performed on stage alongside Machine Gun Kelly during Three 6 Mafia‘s April 12 Coachella set. 

Of course, Rocky wasn’t the only member of Travis’ family to spend time in Palm Springs for the occasion. In another pic, Kourtney—who also shares kids Mason Disick, 14, Penelope Disick, 12, and Reign Disick, 9, with ex Scott Disick—was seen cheering on her husband backstage ahead of his onstage cameo.