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President Trump Confirms Meeting With Putin | Balance of Power: Late Edition 8/08/2025

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“Balance of Power: Late Edition” focuses on the intersection of politics and global business. On today’s show, Cato Institute’s General Economics Vice President Scott Lincicome shares his thoughts on the reaction to potential tariffs from the Trump administration on gold. James Jeffrey, Former US Ambassador to Iraq & Turkey, talks about President Trump confirming that he will meet with Russian President Vladimir Putin to talk about ending the war in Ukraine. Florida Democratic Congresswoman Debbie Wasserman Schultz discusses the Florida GOP’s plan to potentially redraw congressional maps in the state.

Chapters:
00:00:00 – Late Edition of Balance Power Begins
00:02:15 – Derek Wallbank on US Plans Clarification No Tariffs on Gold Bars, Stock Market Reaction to Tariffs
00:05:51 – Scott Lincicome, Cato Institute General Economics Vice Pres., on Tariff & Gold Confusion, Trump’s Tariff Uncertainty
00:14:16 – Power Moves: Scarlet Fu on Gold Whipsaws On a Day of Shock and Confusion, Pres. Trump Weighs Fannie & Freddie IPO This Year
00:17:54 – James Jeffrey, Fmr. US Ambassador to Iraq & Turkey, on Pres. Trump to Meet Pres. Putin, What Is On The Table At The Meeting
00:25:29 – Julie Fine Talks Texas Special Session & Texas Redistricting Latest
00:27:37 – Rep. Debbie Wasserman-Schultz (D-FL) on Florida Possibly Redistricting, Alligator Alcatraz Construction Halted, Israel & Gaza
00:37:01 – Power Brief: Top Stories Watching Tonight
00:39:30 – Political Panel Reacts to Pres. Trump Pledges to Audit the Gold in Fort Knox, Tariff Impacts, Trump Confirms Meeting With Putin
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Trump Moves to Bar Three News Outlets From White House

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President Donald Trump says he is banning CNN, MS NOW and Politico from the White House over coverage he calls “fake news,” though questions remain about how the restrictions would be enforced and whether they could face legal challenges. Bloomberg News White House Correspondent Jeff Mason joins David Gura and Christina Ruffini on Bloomberg This Weekend and discusses how this move comes as Trump also faces protests over the future of the Kennedy Center and prepares to address the UN General Assembly with the Iran war expected to be a major focus.
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India’s Cheap Weight-Loss Drugs Get A Reality Check

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Cheaper weight-loss drugs were expected to take off in India. But despite GLP-1s costing as little as $14 a month, demand has been slower than expected. From stigma to hesitant doctors, Satviki Sanjay explains why price isn’t the only barrier.
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Hormuz Flows Ease Oil Fears, Saudi Air-Raid Alerts, Qatar Urges Gulf Unity, Trump-Xi Summit Nears

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Oil extends losses and Asian stocks edge higher as crude and LNG shipments through the Strait of Hormuz reach a six-month high. The yen faces pressure after the Bank of Japan disappoints.
US-China talks cover trade, AI and investment ahead of the Trump-Xi summit. Bessent calls the engagement successful, while China’s Li cites a positive atmosphere.
Qatar’s prime minister urges coordinated Gulf action on Iran, stresses that peace requires more than mediation and discusses fiscal management as war drives a 7% economic contraction. Al-Ansari says ideas are being exchanged to resume US-Iran talks. Saudi Arabia issues rare air-raid alerts for Riyadh.
Al-Kaabi highlights Hormuz’s critical energy role, reaffirms Qatar’s reliability as an LNG supplier and expects North Field East to come online in the first half of 2027. Qatar Airways reports a cargo boom linked to Hormuz disruption and plans to add 138 jets over five years.
Al-Sowaidi calls innovation a marathon, Rowan sees overwhelming demand for capital, and Solomon says the AI supercycle will take decades to deliver. Anthropic moves its planned IPO to November, while Google joins OpenAI, Anthropic and Meta in disclosing AI hacks.
Dangote says the refinery IPO will usher in a new era for Africa, targeting 10 million subscribers. He outlines plans to reinvest up to $50 billion across Africa and expand refinery capacity to match 10% of the US total, while highlighting its position as the leading jet-fuel exporter to Europe.
Germany’s chancellor suffers a setback as his party loses power in a state election. Zelenskyy is set to meet Trump during the UN General Assembly in New York.

Horizons Middle East & Africa is your daily spotlight on one of the world’s fastest-growing regions. Live from Dubai, we bring you the latest global markets and analysis, plus news-making interviews, with a special focus on MEA. All that and more, as you head to the office in the Gulf, pause for lunch in Hong Kong, or start your day in London or Johannesburg.

Chapters:
00:00:00 – Introduction
00:03:04 – Eric Robertsen, Chief Strategist, Standard Chartered
00:12:32 – US-China Trade Talks Ahead of Trump-Xi Summit
00:17:43 – Trump to Meet Gulf Leaders in New York This Week
00:21:09 – Saad Sherida Al-Kaabi, Energy Minister of Qatar
00:28:01 – Mohammed Saif Al-Sowaidi, CEO, Qatar Investment Authority
00:28:35 – Marc Rowan, Chairman and CEO, Apollo
00:29:25 – David Solomon, Chairman and CEO, Goldman Sachs
00:32:31 – Hamad Ali Al-Khater, Group CEO, Qatar Airways
00:35:58 – Bandar Al-Thani, Governor, Qatar Central Bank
00:37:26 – Majed Al Ansari, Adviser to Qatar’s Prime Minister
00:41:05 – Aliko Dangote, President, Dangote Group
00:44:54 – Ndaba Gaolathe, Vice President of Botswana
——–
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Trump Weighs Big Decision on Iran, Axios Reports

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Top Iranian officials are being allowed to come to New York next week for the UN General Assembly, but will they meet with any US officials? Meanwhile, President Donald Trump tells Axios he has a big decision to make about Iran. Bloomberg’s Courtney Subramanian reports from the White House.
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Yardeni on Cutting His S&P Outlook, Fed, Oil Prices

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Ed Yardeni, one of the biggest stock bulls on Wall Street, talks about why he’s slashing his year-end forecast for the S&P 500 Index to 7,900 from 8,400. He also says the Federal Reserve could raise interest rates two more times this year. Yardeni says Iran is likely to wreak havoc and keep oil prices elevated. He speaks on “Bloomberg Surveillance.”
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