Hello. It's Wednesday, 12th Feb, and we're covering an american teacher released from Russian detention, EV tax & much more.

Trump Engages Putin and Zelenskiy in Ukraine Peace Talks

President Donald Trump initiated discussions with Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskiy to address the ongoing conflict in Ukraine. Trump announced that both parties agreed to commence negotiations promptly, with plans to inform Zelenskiy of the developments.

The Kremlin confirmed that Putin invited Trump to Moscow for future discussions. Defense Secretary Pete Hegseth emphasized that reverting to Ukraine's pre-2014 borders is unrealistic and that NATO membership for Ukraine is not part of the proposed solution. He stated, "Chasing this illusionary goal will only prolong the war and cause more suffering."

Despite initial successes by Ukrainian forces, recent advancements by Russian troops have intensified the conflict, leading to significant military and civilian casualties. Hegseth suggested that future military support should primarily come from European allies, with the U.S. focusing on diplomatic efforts to facilitate a resolution.

This marks a significant shift in U.S. foreign policy, aiming to balance support for Ukraine with pragmatic approaches to end the conflict.

U.S. Manufacturers Confront Challenges Amid Escalating Trade Tensions

American manufacturers are facing increased uncertainty due to recent trade policies under President Donald Trump's administration. The proposed 25% tariffs on imports from Mexico and on metals like steel and aluminum have led companies like Husco, a Wisconsin-based hydraulic components producer, to reconsider expansion plans in Mexico.

CEO Austin Ramirez noted, "Mexico made a ton of sense six months ago. Now, not so much." While some sectors, such as Emerson's valves and regulators unit, report strong demand, the overall manufacturing landscape remains cautious.

High interest rates and inflation are contributing to decreased consumer spending on discretionary items, impacting companies like Harley-Davidson.

The cumulative effect of these factors is creating a hesitant business environment where firms are reluctant to make significant investment decisions. Nick Pinchuk, CEO of Snap-On, highlighted that the post-election period has not alleviated uncertainties, stating that the current trade policies have "jumbled investment plans and cast a shadow over an upturn in the domestic manufacturing economy."

American Teacher Marc Fogel Released from Russian Detention

Marc Fogel, an American educator detained in Russia since August 2021 on drug smuggling charges for carrying medically prescribed marijuana, has been released and returned to the United States. His release was facilitated by negotiations led by President Donald Trump's envoy, Steve Witkoff.

Fogel was welcomed by President Trump at the White House, where he expressed immense gratitude and relief at finally returning home. This development is viewed as a potential step towards improving U.S.-Russia relations and possibly advancing efforts to end the Ukraine war.

Trump expressed gratitude towards Russian President Vladimir Putin and hinted at another forthcoming release.

Fogel's family, who had campaigned extensively for his release, expressed their immense gratitude and relief upon his return. This marks the beginning of healing for his family after a prolonged period of uncertainty.

Sports & Entertainement

• Rock & Roll Hall of Fame: The Rock & Roll Hall of Fame announced its 2025 nominees, including first-time contenders Mariah Carey, OutKast, and Phish. Returning nominees include Oasis, Soundgarden, and the White Stripes. The final inductees, chosen by industry professionals, will be announced in April, with the ceremony taking place in Los Angeles this fall. This year’s diverse selection highlights the Hall of Fame’s continued recognition of influential artists across multiple genres. Fans can also vote for their favorites online.

• Stubblefield Released: Former 49ers star Dana Stubblefield was released from prison after his 2020 rape conviction was overturned. A California appeals court ruled that racially biased prosecution violated his rights under the Racial Justice Act. Stubblefield had been serving a 15-year sentence but maintained the encounter was consensual. He was granted release under supervision, including an ankle monitor. Prosecutors may refile charges, leaving his legal future uncertain. The case remains controversial, drawing attention to fairness in criminal trials.

Business & Economy

• $1,000 EV Tax : A group of Republican senators has proposed a one-time $1,000 tax on new electric vehicle (EV) purchases to fund federal road maintenance. Currently, gas taxes support the Highway Trust Fund, but EVs bypass these costs. Senator Deb Fischer argues that heavier EVs cause more road wear and should contribute equally. While Transportation Secretary Sean Duffy acknowledges the issue, critics worry the tax could slow EV adoption.

• January Inflation The Consumer Price Index rose 3% in January, surpassing December’s 2.9%, signaling persistent inflation. Higher food and energy prices fueled the increase, complicating the Federal Reserve’s efforts to stabilize the economy. Consumers may face higher costs for essentials, reducing purchasing power. Financial experts recommend adjusting budgets and investments to mitigate the impact.

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