Trump Heads to Scotland for Golf, Diplomacy; Trump and Powell Clash Over Fed Renovation Costs | NTD Good Morning (July 25)

President Donald Trump is heading to Scotland on Friday for a trip that blends golf with diplomacy. He’ll first visit his Turnberry resort on Scotland’s west coast, where he’s set to meet British Prime Minister Keir Starmer on Monday for talks to advance the U.S.–UK trade deal. Trump will then travel 200 miles east to his Aberdeen property to open a second 18-hole course, which is named after his mother, Mary Anne MacLeod. She was born on a Scottish island before immigrating to the United States.

Trump paid a rare visit to the Federal Reserve headquarters on Thursday, ramping up pressure on Fed Chairman Jerome Powell to cut interest rates. The two also clashed over a Federal Reserve headquarters renovation project that’s slated to cost billions of dollars. Powell defended the renovation costs, saying the building requires significant structural repairs.

Lawmakers have subpoenaed the CEOs of two of America’s biggest financial institutions, J.P. Morgan and Bank of America. They’re under scrutiny for their roles in the initial public offering of Chinese battery giant CATL. The company is flagged by the Defense Department as a Chinese military company. The chairman of the House Select Committee on the Chinese Communist Party said that “Wall Street shouldn’t be underwriting Chinese military companies—and the American people deserve transparency.”