The Daily Brief
Today
Good morning. The administration has launched a review that could strip status from as many as 200,000 visa holders and asylum applicants, with cancellations possible in waves. Simultaneously, the White House imposed a new round of sanctions on Iran after nearly six months of war and years of economic pressure.
On Wall Street, the [SEC is seeking information from major banks about trades and financing tied to the AI-focused hedge fund Situational Awareness](https://www.cnbc.com/2026/08/25/sec-situational-awareness-hedge-fund-subpoenas.html).
The threat of higher prices for gas, cars, hockey sticks and more has handed Democrats a talking point about economic destabilization, while [Trump unveiled a plan to curb beef prices by suspending tariffs on huge amounts of beef imports while claiming the beef would be sold at a big discount, but he would not say which countries would supply it or how he secured the commitment](https://newrepublic.com/article/214677/krugman-trump-just-revealed-extraordinary-contempt-maga-voters).
Health-industry agreements covering drug pricing, reducing synthetic food dyes, and cutting back on insurance prior-authorization rules were announced with fanfare and touted as victories, but the deals are at risk of vanishing.