When Power Becomes Business: Trump's Second Spring Between Tariffs, Crypto, and Deportations

A ‘National Security Threat’ from the Movie Theater

It initially sounded like a rhetorical flourish, but the very next day it became clear — Trump was serious. He announced plans to impose a 100% tariff on films 'produced' outside the United States, calling them a threat to national security.

 According to The New York Times, Trump claimed that foreign governments were “coordinating efforts to displace the American film industry” and therefore should be punished with taxes. He tasked U.S. Trade Representative Jamieson Greer with beginning the process of taxing all films made on foreign soil.

As often with Trump, the details remained vague: what exactly qualifies as a 'foreign film'? Does this apply to streaming platforms, indie art house films, or Hollywood blockbusters filmed in Canada or Hungary? The White House stayed silent. Meanwhile, the Motion Picture Association (MPA) declined to comment, even though its own report showed the film industry provides a consistent trade surplus for the U.S.

Meanwhile, jobs are vanishing in California. According to the International Alliance of Theatrical Stage Employees (IATSE), some 18,000 jobs — from camera operators to electricians — have been lost in three years. Union vice president Michael F. Miller Jr. said: “We are letting California become to the entertainment industry what Detroit became to the auto industry.”

An Inherited Empire: Trump’s Sons and Billions from Three Continents

While the president pledges to fight 'external threats,' his sons are focused on expanding personal influence. Donald Trump Jr. and Eric Trump recently announced dozens of ventures in real estate, cryptocurrency, and private clubs — from a hotel in Dubai to a residential tower in Jeddah, from crypto firms in the U.S. to a new private club in Washington.

As reported by The New York Times, the brochure for the $1 billion Trump Tower Dubai presentation bore the slogan: 'Challenge everything. Stop at nothing.' Penthouse units reached $20 million. Meanwhile, World Liberty Financial — founded by the Trumps — struck a $2 billion deal with an Abu Dhabi fund for their new USD1 stablecoin. Trump’s financial disclosures confirm he benefits personally from these deals.

Senator Jeff Merkley called it 'an influence sale, a conflict of interest — a form of corruption we haven’t seen before.' Donald Trump Jr. replied angrily: 'It’s laughable that the left-wing media thinks I should lock myself in a padded room while my father is president.' He added that if needed, 'I could always start painting — I hear it can be lucrative.'

End of Cheap T-Shirts: The Chinese Loophole Closes

Just last year, UPS and FedEx executives spoke of the 'explosive growth' of shipments from China. These low-cost packages, up to $800 in value, entered the U.S. duty-free via the 'de minimis' exemption. That loophole has now been shut. Trump signed an order eliminating it for China and Hong Kong.

According to UPS, revenues from this trade lane are expected to drop 25%, and the company plans to cut 20,000 jobs. Chinese e-commerce platform Temu announced it will now ship only from within the U.S.

Cost to consumers: $14.50 in tariffs on a $10 T-shirt — with some goods taxed up to 145%.

As NYT analyst Jay Cushing put it: 'Last time the system recovered. But this time it’s more aggressive. It will take longer.’

Pathogens Banned: The End of Gain-of-Function Research

A new executive order from President Trump completely bans federal funding for gain-of-function research — experiments aimed at making pathogens more dangerous. He criticized Biden’s prior policy as lacking oversight and called for a total reset of safety regulations, particularly for research conducted in high-risk countries like China.

The original ban was introduced in 2014, lifted during Trump’s first term in 2017, and replaced with a review-based approach. Now the outright ban is back. At the signing ceremony, Trump again linked the topic to COVID’s origins, saying: “I’ve said it from day one — it leaked out… a scientist went to lunch with his girlfriend.”

Meanwhile, the U.S. intelligence community remains divided. The Department of Energy, FBI, and CIA lean toward the lab-leak theory — but with 'low confidence.' The National Intelligence Council and other agencies support the natural origins hypothesis. NYT notes this split continues to complicate the national biosecurity conversation.

Peace in Gaza? Trump Has Moved On

Back in April, hosting Israeli PM Benjamin Netanyahu at the White House, Trump said: “I think the war will end soon.” By May, things had changed. Israel began mobilizing tens of thousands of reservists for a final Gaza escalation. The peace process appears dead. NYT reports that hopes of a U.S.-brokered deal have faded.

“At first it was all about Gaza,” said Ilan Goldenberg, a former State Department official. “But when the ceasefire collapsed, Trump essentially gave Israel a green light. He lost interest.”

According to Axios, a new Israeli operation could launch once Trump returns from trips to Saudi Arabia, Qatar, and the UAE. Trump, meanwhile, has warned Hamas that 'all hell will break loose' if hostages aren’t released.

Special envoy Steve Witkoff, once active in ceasefire talks, is now focused on Iran and meetings with Vladimir Putin. New Secretary of State and National Security Advisor Marco Rubio has not yet visited Israel.

‘Five Million Trials’: Constitution Not for Everyone?

As reported NYT , an NBC News interview, Trump was asked if he must uphold the Constitution while conducting mass deportations. He replied, “I don’t know.” He elaborated: “Now the courts are saying you need hearings. Five million trials? That’s impossible.”

The administration’s plan — the largest deportation effort in U.S. history — is to bypass due process protections. In some cases, the administration is ignoring court orders, including one from the Supreme Court mandating the return of Kilmar Abrego Garcia, mistakenly deported to a Salvadoran terrorist prison.

Trump has also called for the impeachment of judges who rule against him — prompting Chief Justice John Roberts to issue a rare rebuke: “Impeachment is not the way to disagree with judicial rulings.”

Trump aide Stephen Miller went further, posting: “Due process is for citizens to protect against their government, not for foreign trespassers.”

Crypto Conflicts and a Democratic Uprising

Trump’s family-owned crypto firm, World Liberty Financial, has become central to a major legislative controversy. Following a $2 billion deal with an Abu Dhabi-backed fund for their new stablecoin USD1, Democrats raised the alarm. The GENIUS Act, designed to regulate stablecoins, is seen by many as a direct financial boon to the Trump family. NYT dedicated an entire report to the conflict.

Senators Jeff Merkley and Elizabeth Warren stated: “This is corruption. It has to stop.” Senate Majority Leader Chuck Schumer urged Democrats not to support the bill. Even Republican Senator Cynthia Lummis expressed concern: “This is my president, but I do have doubts.”

The administration maintains there’s no conflict because Trump’s assets are managed by his children. However, financial disclosures confirm he personally benefits from World Liberty.

Meanwhile, a fundraiser held at Trump National Golf Club saw crypto investors pay up to $1.5 million each for access to the president.

A Patriotic Pill: Pharma Tariffs and Strategic Investments

Amid debates on crypto and cinema, another initiative has quietly emerged with major implications for the pharmaceutical market. Trump announced new tariffs on drug imports, claiming that the U.S. would 'no longer rely on foreign ingredients for pills that save our lives.' The New York Times covered the policy in depth.

That same day, pharmaceutical giant Bristol Myers Squibb announced a $3.5 billion domestic investment package to expand U.S. production. Some experts see this as a coordinated sequence — tariffs apply pressure, and investments follow. Analysts warn that national security arguments are increasingly being used to justify protectionist policies.

“America is turning into a pharmaceutical hedge fund,” wrote The New York Times, noting that these tariffs could disrupt supply chains and raise prices on essential medicines from insulin to chemotherapy.

When Power Monetizes Itself

The first week of May 2025 made one thing clear: Donald Trump’s second term is not just about politics — it’s a business model. Cryptocurrency walks hand in hand with executive orders, cinema faces sanctions, and even the Constitution is negotiable. Where there used to be institutions, now there are family names. Where balance once stood, self-interest rules.

Congress, the courts, international partners, and corporate giants now operate under rapidly shifting rules. And behind each of Trump’s decisions — from deportations to digital tokens — ideology often blends with direct economic benefit.

The only question that remains: who will foot the bill — the voters or history?