5 things to know for June 9: LA protests, Colombia assassination attempt, Gaza aid ship, Salmonella outbreak, Tony awards
You may have missed it, but on Friday, the Supreme Court lifted a lower court order that blocked the Department of Government Efficiency from accessing the Social Security Administration's data systems. Since Social Security tracks data from cradle to grave, here is just some of the information DOGE will now have access to: your name, Social Security number, date and place of birth, gender, addresses, marital and parental status, your parents' names, lifetime earnings, bank account information, immigration and work authorization status, health conditions if you apply for disability benefits, and your use of Medicare after a certain age. Before the ruling, Social Security data was always tightly restricted.
Here's what else you need to know to Get Up to Speed and On with Your Day.
Protests against President Donald Trump's immigration crackdown have rocked Los Angeles, prompting the LAPD to declare all of downtown an unlawful assembly area. Demonstrations in and around the nation's second-most populous city began on Friday and continued throughout the weekend. Although law enforcement officers in riot gear had already used flash-bangs to disperse crowds while making arrests, Trump announced on Saturday that he was deploying 2,000 members of the National Guard. This prompted thousands of protesters to gather, blocking lanes on freeways and occupying nearby streets. Most demonstrators remained peaceful, but some threw rocks, bottles and fireworks at officers and set fire to at least two self-driving cars. A CNN crew also witnessed officers striking protesters with batons and firing tear gas and pepper balls.
Colombian senator Miguel Uribe, who is in the running to join next year's presidential race, was shot twice in the back during a campaign event in Bogota on Saturday. The 39-year-old lawmaker is currently in critical condition. Uribe is a member of the center-right Centro Democrático (Democratic Center), the biggest opposition party in the South American nation. Colombian President Gustavo Petro has condemned the attack and vowed to hunt down those responsible. So far, police have arrested a teenage boy in connection with the assassination attempt.
humanitarian aid to Gaza, where more than 600 days of war — and an 11-week Israeli blockade of all aid — has pushed the enclave's 2.1 million people deeper into a hunger crisis. According to the Freedom Flotilla Coalition, the UK-flagged civilian vessel was surrounded by quadcopters, communications were jammed and disturbing sounds were played over the radio. Israeli troops then boarded the ship and detained its crew and passengers, including climate activist Greta Thunberg and Rima Hassan, a French member of the European Parliament.
Dozens of people in seven states have been sickened by a salmonella outbreak linked to eggs, the CDC said. In response, the August Egg Company has recalled 1.7 million dozen brown cage-free and brown certified organic eggs, sold under multiple brand names, that have the 'potential to be contaminated.' Consumers who purchased the eggs at Walmart, Save Mart, FoodMaxx, Lucky, Smart & Final, Safeway, Raleys, Food 4 Less and Ralphs should throw them out or return them to the store where they were purchased. To date, no deaths have been reported, but 21 people have been hospitalized.
The 78th annual Tony Awards ceremony on Sunday was a grand event filled with stars, songs and spectacle. 'Purpose' won the Tony for best play and 'Maybe Happy Ending' won for best musical. Cole Escola earned a best actor Tony for portraying Mary Todd Lincoln in 'Oh, Mary!' a play he also wrote. Sarah Snook took home her first Tony for best actress for portraying 26 characters in 'The Picture of Dorian Gray.' Nicole Scherzinger, who performed a stunning rendition of 'As If We Never Said Goodbye,' also won her first Tony for best performance by an actress in a leading role in a musical for 'Sunset Blvd,' which won in the best musical revival category. Other standout performances included 'Wicked' star and host Cynthia Erivo's rousing opening number and Jonathan Groff's take on 'Mack the Knife' from 'Just in Time' (which included a humorous cameo by Keanu Reeves). The original cast of 'Hamilton' also reunited to honor the production's 10th anniversary.
World record smashedCanadian swimmer Summer McIntosh broke the 400m freestyle world record over the weekend, trimming more than a second off the previous mark.
Remain on guard at all timesHackers have tricked employees at companies in Europe and the Americas into installing a modified version of a Salesforce-related app that allows them to steal reams of data and extort those companies.
Is it a scam? Yep.If you ever wanted to learn more about fraud, Alex Falcone has created a useful TikTok channel. In rapid-fire monologues, the comedian discusses the many ways people and companies scam consumers.
Using AI to peer into the pastMany of the Dead Sea Scrolls may be older than previously thought, a new analysis shows.
Bag on the blockThe original Hermès Birkin bag will go under the hammer at Sotheby's in Paris next month. The all-black, leather handbag is the first version of the timeless luxury staple.
$54,210That's how much it'll cost, per night, to stay in the penthouse of the five-star Mandarin Oriental Mayfair hotel in London.
'The most important thing is to have the courage to speak, to not let fear permeate the country so that everyone suddenly becomes silent. If you have the courage to speak, we are saved. If you fall silent, the country is doomed.'
— Former 'CBS Evening News' anchor Scott Pelley, in an exclusive interview with Anderson Cooper after CNN's Saturday telecast of the Broadway play 'Good Night, and Good Luck.'
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Oops!A DoorDash delivery driver got lost and accidentally entered an 'unauthorized secured area' at Chicago O'Hare Airport.
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New York Post
21 minutes ago
- New York Post
LA-based Jimmy Kimmel claims ‘there's no riot outside' as he blasts ‘mentally ill' Trump
Los Angeles-based comedian Jimmy Kimmel told his audience on Tuesday that 'there's no riots outside' and slammed 'mentally ill' President Donald Trump for deploying troops to quell what he claims is exaggerated unrest in the city. Trump sent over 700 Marines to Los Angeles in an effort to quash anti-ICE protests that have ravaged parts of the city on Tuesday. Images from L.A. showcase masked protesters blocking roads, destroying vehicles and engaging with police, while Mayor Karen Bass issued a curfew for a portion of the city's downtown area. Advertisement Kimmel mocked the media for portraying the anti-ICE protests as 'some kind of totalitarian hellscape' and condemned the Trump administration for deporting 'people who have lived here their whole lives.' 'You won't see this elsewhere on television. Not only is it not an apocalypse, they're having a Disney/Pixar movie premiere for 'Elio,' a movie about aliens. Don't tell Trump — he'll send in the Green Berets, too,' Kimmel ribbed. 'But I just want to say, thank God for President Trump and the heroes at ICE for protecting us from these bloodthirsty fruit stand vendors spreading their dangerous pineapple chunks and mangos with a squirt of lime all over the city.' 4 Kimmel mocked the media for portraying the anti-ICE protests as 'some kind of totalitarian hellscape.' ABC 4 Cars burn during a protest against federal immigration sweeps in downtown Los Angeles, California, U.S. June 8, 2025. REUTERS Advertisement The late-night host vented his anger towards the ICE raids in the city, claiming that the 'vast majority' of those being deported have 'never done anything wrong.' 'People who have lived here their whole lives, people who have been in this city longer than I have, the vast majority of whom have never done anything wrong, are being abducted, which is the correct word to use, by agents in masks, hiding their identities, grabbing people off the street and at work, sending people to detention centers,' he claimed. Kimmel asserted that it's not only Los Angelenos' right to protest the deportations, but it's their 'responsibility.' 4 U.S. President Donald Trump walks away after speaking to the media upon arrival at Joint Base Andrews following a visit to North Carolina, in Maryland, U.S., June 10, 2025. REUTERS Advertisement 'Los Angelenos gathered to demonstrate and, with very few exceptions, peacefully demonstrate to voice their opposition to this disgusting and unnecessary abuse of power instigated by our mentally ill president, who is dead-set on exacerbating this, who actually wants conflict, who is intentionally inflaming and lying to make it seem like there's a war going on,' he charged. Kimmel continued his criticism of the president and claimed that 'he wants there to be a war going on' in L.A. and doesn't care who gets hurt in the process. 'There's no riot outside,' Kimmel declared. 'We have more so-called 'unrest' here when one of our teams wins a championship.' 4 A protestor is detained in downtown Los Angeles, Sunday, June 8, 2025, following last night's immigration raid protest. AP Advertisement The host maintained that the media is exaggerating the violence taking place at the anti-ICE protests and argued that Trump exacerbated the unrest by sending in troops. 'Someone sets a fire in a garbage can, 12 camera crews go running toward it,' he asserted. 'Trump wants it to seem like anarchy, so he goes around our governor and calls in 4,000 troops from the National Guard and 700 active-duty Marines. When we had the wildfires that devastated big chunks of our city, he did absolutely nothing. Now that we're in the middle of a non-emergency, send in the National Guard!'
22 minutes ago
Members of the Fulbright scholarship board resign, accusing Trump of meddling
All 12 members of the board overseeing the prestigious Fulbright scholarships on Wednesday resigned in protest of what they call the Trump administration's meddling with the selection of award recipients, according to a statement. A statement published online by the board members said the administration usurped the board's authority by denying awards to 'a substantial number of people' who already had been chosen. Another 1,200 award recipients who were already approved to come to the U.S. are undergoing an unauthorized review process that could lead to their rejection, the board members said. 'To continue to serve after the Administration has consistently ignored the Board's request that they follow the law would risk legitimizing actions we believe are unlawful and damage the integrity of this storied program and America's credibility abroad,' the statement reads. Congress established the Fulbright program nearly 80 years ago to promote international exchange and American diplomacy. The highly selective program awards about 9,000 scholarships annually in the U.S. and in more than 160 other countries to students, scholars, and professionals in a range of fields. A message seeking comment was left with the State Department, which runs the scholarship program. The resignations were first reported by The New York Times. The intervention from the Trump administration undermined the program's merit-based selection process and its insulation from political influence, the board members wrote. 'We believe these actions not only contradict the statute but are antithetical to the Fulbright mission and the values, including free speech and academic freedom, that Congress specified in the statute,' the statement said. 'It is our sincere hope that Congress, the courts, and future Fulbright Boards will prevent the administration's efforts to degrade, dismantle, or even eliminate one of our nation's most respected and valuable programs.' Award recipients are selected in a yearlong process by nonpartisan staff at the State Department. The recipients who had their awards canceled are in fields including biology, engineering, medical sciences, and history, the board members said. The announcement comes as the Trump administration ratchets up scrutiny of international students on several fronts. The administration has expanded the grounds for revoking foreign students' legal status, and recently paused scheduling of new interviews for student visas as it increases vetting of their social media activity. The government also has moved to block foreign students from attending Harvard as it pressures the Ivy League school to adopt a series of reforms. ___ standards for working with philanthropies, a list of supporters and funded coverage areas at
Yahoo
23 minutes ago
- Yahoo
Trump tariffs live updates: Bessent suggests pause extension, US-China trade framework takes shape
Treasury Secretary Scott Bessent told Congress that it is "highly likely" that a pause related to steep new US tariffs on other countries will be extended for countries that are negotiating with the administration "in good faith." "There are 18 important trading partners — we are working toward deals on those — and it is highly likely that those countries that are ... negotiating in good faith, we will roll the date forward," Bessent said during testimony before the House Ways and Means Committee. On April 9, after President Trump's announcement of steep new tariffs across global trading partners roiled markets, Trump imposed a 90-day pause on the import taxes. The US continues to negotiate new trade deals with various countries, as well as the European Union. Earlier on Wednesday, US and China agreed to a framework and implementation plan to ease tariff and trade tensions on Tuesday. President Trump signaled his approval, saying the deal was "done" pending sign-off from him and Chinese President Xi Jinping. Trump and other US officials indicated the deal should resolve issues between the two countries on rare earths and magnets, though reports later indicated China would only loosen restrictions on rare earth mineral exports for a six-month period. Trump also said the US will allow Chinese students in US colleges, a sticking point that had emerged in the weeks following the countries' mid-May deal in Geneva. Trump said the US would impose a total of 55% tariffs on Chinese goods. Yahoo Finance's Ben Werschkul reports, citing a White House official, that Trump arrived at that figure by adding together an array of preexisting duties and not any new tariffs. Meanwhile, though Trump's most sweeping tariffs continue to face legal uncertainty, on Tuesday, the president received a favorable update. A federal appeals court held a decision saying his tariffs can temporarily stay in effect. The US Court of International Trade had blocked their implementation last month, deeming the method used to enact them "unlawful." Read more: What Trump's tariffs mean for the economy and your wallet Here are the latest updates as the policy reverberates around the world. Treasury Secretary Scott Bessent told House lawmakers on Wednesday that the Trump administration may extend the 90-day tariff pause on some countries in order to continue trade negotiations. When asked if Americans should prepare for another "Liberation Day" on July 9, when the tariff pause ends for most countries, Bessent said that the administration may choose to move the deadline on 18 of the most important trading partners, so long as they make an effort to come to the negotiating table. "We are working toward deals on those, and it is highly likely that [for] those countries — or trading blocs, in the case of the EU — who are negotiating in good faith, we will roll the day forward to continue good faith negotiations," Bessent said (see video below). "If someone is not negotiating, then we will not." A recent report on the drastic decline of US ocean imports serves as an example of how President Trump's increased tariffs on China affected supply chains and several industries as ttalks continue. Reuters reports: Read more here. The Treasury Department says that the US government is successfully using tariffs to decrease the budget deficit by more than $30 billion, largely due to increased customs receipts. Reuters reports: Read more here. China will ease curbs on exports of rare earth minerals for six months as part of a new trade understanding with the US, according to The Wall Street Journal. The move could add more uncertainty for American manufacturers, particularly the auto industry, which has been pushing for easier access. The Journal notes that the move gives China leverage down the line if tensions ratchet back up. From the report: In celebrating the agreement early Wednesday, President Trump noted "any necessary rare earths will be supplied, up front, by China." He did not mention any time limit on loosening those restrictions. Treasury Secretary Scott Bessent, in testimony before Congress on Wednesday, painted Wednesday's agreement as an incremental step on the longer road to a more comprehensive trade deal. "A trade deal today or last night was for a specific goal, and it will be a much longer process," he told a House committee. When asked if current US tariff levels on Chinese imports would not change again, Commerce Secretary Howard Lutnick told CNBC, "You can definitely say that." "We're in a great place with China," Lutnick said Wednesday. While the US-China truce framework is awaiting final word from US President Trump and Chinese President Xi Jinping, Lutnick added, "Both sides are really positive." The agreement is largely viewed as reestablishing the "handshake" that US and Chinese officials reached in Geneva last month, as details on a larger trade pact remain scant. Trump posted on social media this morning that the US has imposed 55% tariffs on China, a number that does not include any new tariffs but instead comprises some preexisting tariffs, Trump's fentanyl tariffs, and 10% "Liberation Day" tariffs. Lutnick touted that, as a result of the two-day talks, the US will gain access to rare earths and magnets, while the Chinese delegation sought to remove the US's export controls. He added that the trade deficit remains an ongoing issue, stating, "We're going to examine how China can do more business with us." May's Consumer Price Index (CPI) report showed inflation pressures eased on a monthly basis despite investor concerns that President Trump's tariffs would accelerate the pace of price increases. The Consumer Price Index (CPI) increased 0.1% on a monthly basis in May and 2.4% on an annual basis, a slight uptick from April's 2.3% gain. Yahoo Finance's Allie Canal reports: Read more here. I would keep an eye on consumer names off the news of a trade deal with China floated by President Trump this morning (see our prior post below). Seeing upticks premarket in heavily China-exposed retailers such as Nike (NKE), Walmart (WMT), Target (TGT), and Abercrombie & Fitch (ANF). The premarket gains here aren't mind-blowing in part because tariffs appear to still be in place. Trump posted on Truth Social: OUR DEAL WITH CHINA IS DONE, SUBJECT TO FINAL APPROVAL WITH PRESIDENT XI AND ME. FULL MAGNETS, AND ANY NECESSARY RARE EARTHS, WILL BE SUPPLIED, UP FRONT, BY CHINA. LIKEWISE, WE WILL PROVIDE TO CHINA WHAT WAS AGREED TO, INCLUDING CHINESE STUDENTS USING OUR COLLEGES AND UNIVERSITIES (WHICH HAS ALWAYS BEEN GOOD WITH ME!). WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%. RELATIONSHIP IS EXCELLENT! THANK YOU FOR YOUR ATTENTION TO THIS MATTER!" A variety of market observers quickly weighed in hours after Tuesday evening's unveiling to suggest that the deal may not have a lot of meat on the bones — but at least relations are no longer moving in the wrong direction. The talks perhaps underscored how unlikely a comprehensive trade deal is anytime soon, noted AGF Investments Greg Valliere, "but at least relations may not worsen as talks continue throughout the summer." Both sides promised additional talks in the weeks or months ahead, but none have yet been scheduled. Veronique de Rugy, a professor at the Mercatus Center at George Mason University, suggested the talks continued to show China's leverage. "China is hurting, yes—but they still hold the upper hand on critical resources, and they know how to use them." Any lessening of tensions — and freer flow — of these mineral resources in China would be a significant boost to the global economy with China holding outsized leverage in both the reserves and processing capacity of these key building blocks for everything from computers to electric vehicle batteries to medical devices. Likewise, the US offering concessions on export controls would be a significant move after years where successive US administrations have wielded these controls — especially around the design and manufacture of semiconductors — by saying they need to be tight on China for national security reasons. Read more here. May's Consumer Price Index (CPI) report will be released on Wednesday and its expected to show that prices rose a bit faster than in April. Yahoo Finance's Allie Canal breaks down what to look out for and how President Trump's tariffs are impacting what consumers are now paying for goods and services. Read more here. Now that the US-China trade truce is back on track, both sides are keen to ensure it stays that way. China's Vice Premier He Lifeng said both sides need to now 'show the spirit of good faith in abiding by their commitments and jointly safeguard the hard-won results of the dialogue.' Bloomberg News reports: Read more here. Reuters reports: Read more here. Despite the US-China trade truce resuming the pain from President Trump's tariffs remains in China, especially among small exporters. Reuters reports: Read more here. Japan warned Wednesday that tariffs threaten its economic growth, the government said in a monthly report. Reuters reports: Read more here. Reuters reports: Read more here. Reuters reports: Read more here. A federal appeals could said on Tuesday that President Trump's sweeping tariffs can continue for now. This is a significant win for Trump, who introduced tariffs back in March and declared "Liberation Day," as he saw them as a way to free the US from what he called unfair trade practices. Bloomberg News reports: Read more here. Early summer sales for Inditex, the owner of fashion retailer Zara, came in weaker, as the company missed expectations for first quarter sales on Wednesday. President Trump's tariffs have impacted consumer demand in the US and other major markets. Reuters reports: Read more here. After weeks of back and forth, the US and China have agreed on a framework to implement the Geneva consensus that helped ease tariffs. The breakthrough came after two days of talks in London, including a marathon session on Tuesday. US Commerce Secretary Howard Lutnick said both sides had to "get the negativity out" before making progress. 'Now we can go forward to try to do positive trade, growing trade,' he said. As part of the deal, Beijing has promised to speed up shipments of rare earth metals, a crucial component for global auto and defense industries. Washington will ease export controls. This marks the first sign of movement on key issues. The proposal will now be presented to President Trump and China's Xi. Still, the discussions also did little to resolve a long-standing issue: China's trade surplus with the US. 'Markets will likely welcome the shift from confrontation to coordination,' said Charu Chanana, chief investment strategist at Saxo Markets. 'We're not out of the woods yet — it's up to Trump and Xi to approve and enforce the deal.' The meeting was set up after a phone call between the two leaders, following weeks of each side accusing the other of breaking the Geneva commitments. Both countries had used chips, rare earths, student visas and ethane as bargaining tools. Josef Gregory Mahoney, a professor at East China Normal University, said trust, not money, has been the biggest casualty of the trade war. 'We've heard a lot about frameworks,' he said. 'But the fundamental issue remains: Chips versus rare earths. Everything else is a peacock dance.' Bloomberg reports: Read more here. Treasury Secretary Scott Bessent told House lawmakers on Wednesday that the Trump administration may extend the 90-day tariff pause on some countries in order to continue trade negotiations. When asked if Americans should prepare for another "Liberation Day" on July 9, when the tariff pause ends for most countries, Bessent said that the administration may choose to move the deadline on 18 of the most important trading partners, so long as they make an effort to come to the negotiating table. "We are working toward deals on those, and it is highly likely that [for] those countries — or trading blocs, in the case of the EU — who are negotiating in good faith, we will roll the day forward to continue good faith negotiations," Bessent said (see video below). "If someone is not negotiating, then we will not." A recent report on the drastic decline of US ocean imports serves as an example of how President Trump's increased tariffs on China affected supply chains and several industries as ttalks continue. Reuters reports: Read more here. The Treasury Department says that the US government is successfully using tariffs to decrease the budget deficit by more than $30 billion, largely due to increased customs receipts. Reuters reports: Read more here. China will ease curbs on exports of rare earth minerals for six months as part of a new trade understanding with the US, according to The Wall Street Journal. The move could add more uncertainty for American manufacturers, particularly the auto industry, which has been pushing for easier access. The Journal notes that the move gives China leverage down the line if tensions ratchet back up. From the report: In celebrating the agreement early Wednesday, President Trump noted "any necessary rare earths will be supplied, up front, by China." He did not mention any time limit on loosening those restrictions. Treasury Secretary Scott Bessent, in testimony before Congress on Wednesday, painted Wednesday's agreement as an incremental step on the longer road to a more comprehensive trade deal. "A trade deal today or last night was for a specific goal, and it will be a much longer process," he told a House committee. When asked if current US tariff levels on Chinese imports would not change again, Commerce Secretary Howard Lutnick told CNBC, "You can definitely say that." "We're in a great place with China," Lutnick said Wednesday. While the US-China truce framework is awaiting final word from US President Trump and Chinese President Xi Jinping, Lutnick added, "Both sides are really positive." The agreement is largely viewed as reestablishing the "handshake" that US and Chinese officials reached in Geneva last month, as details on a larger trade pact remain scant. Trump posted on social media this morning that the US has imposed 55% tariffs on China, a number that does not include any new tariffs but instead comprises some preexisting tariffs, Trump's fentanyl tariffs, and 10% "Liberation Day" tariffs. Lutnick touted that, as a result of the two-day talks, the US will gain access to rare earths and magnets, while the Chinese delegation sought to remove the US's export controls. He added that the trade deficit remains an ongoing issue, stating, "We're going to examine how China can do more business with us." May's Consumer Price Index (CPI) report showed inflation pressures eased on a monthly basis despite investor concerns that President Trump's tariffs would accelerate the pace of price increases. The Consumer Price Index (CPI) increased 0.1% on a monthly basis in May and 2.4% on an annual basis, a slight uptick from April's 2.3% gain. Yahoo Finance's Allie Canal reports: Read more here. I would keep an eye on consumer names off the news of a trade deal with China floated by President Trump this morning (see our prior post below). Seeing upticks premarket in heavily China-exposed retailers such as Nike (NKE), Walmart (WMT), Target (TGT), and Abercrombie & Fitch (ANF). The premarket gains here aren't mind-blowing in part because tariffs appear to still be in place. Trump posted on Truth Social: OUR DEAL WITH CHINA IS DONE, SUBJECT TO FINAL APPROVAL WITH PRESIDENT XI AND ME. FULL MAGNETS, AND ANY NECESSARY RARE EARTHS, WILL BE SUPPLIED, UP FRONT, BY CHINA. LIKEWISE, WE WILL PROVIDE TO CHINA WHAT WAS AGREED TO, INCLUDING CHINESE STUDENTS USING OUR COLLEGES AND UNIVERSITIES (WHICH HAS ALWAYS BEEN GOOD WITH ME!). WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%. RELATIONSHIP IS EXCELLENT! THANK YOU FOR YOUR ATTENTION TO THIS MATTER!" A variety of market observers quickly weighed in hours after Tuesday evening's unveiling to suggest that the deal may not have a lot of meat on the bones — but at least relations are no longer moving in the wrong direction. The talks perhaps underscored how unlikely a comprehensive trade deal is anytime soon, noted AGF Investments Greg Valliere, "but at least relations may not worsen as talks continue throughout the summer." Both sides promised additional talks in the weeks or months ahead, but none have yet been scheduled. Veronique de Rugy, a professor at the Mercatus Center at George Mason University, suggested the talks continued to show China's leverage. "China is hurting, yes—but they still hold the upper hand on critical resources, and they know how to use them." Any lessening of tensions — and freer flow — of these mineral resources in China would be a significant boost to the global economy with China holding outsized leverage in both the reserves and processing capacity of these key building blocks for everything from computers to electric vehicle batteries to medical devices. Likewise, the US offering concessions on export controls would be a significant move after years where successive US administrations have wielded these controls — especially around the design and manufacture of semiconductors — by saying they need to be tight on China for national security reasons. Read more here. May's Consumer Price Index (CPI) report will be released on Wednesday and its expected to show that prices rose a bit faster than in April. Yahoo Finance's Allie Canal breaks down what to look out for and how President Trump's tariffs are impacting what consumers are now paying for goods and services. Read more here. Now that the US-China trade truce is back on track, both sides are keen to ensure it stays that way. China's Vice Premier He Lifeng said both sides need to now 'show the spirit of good faith in abiding by their commitments and jointly safeguard the hard-won results of the dialogue.' Bloomberg News reports: Read more here. Reuters reports: Read more here. Despite the US-China trade truce resuming the pain from President Trump's tariffs remains in China, especially among small exporters. Reuters reports: Read more here. Japan warned Wednesday that tariffs threaten its economic growth, the government said in a monthly report. Reuters reports: Read more here. Reuters reports: Read more here. Reuters reports: Read more here. A federal appeals could said on Tuesday that President Trump's sweeping tariffs can continue for now. This is a significant win for Trump, who introduced tariffs back in March and declared "Liberation Day," as he saw them as a way to free the US from what he called unfair trade practices. Bloomberg News reports: Read more here. Early summer sales for Inditex, the owner of fashion retailer Zara, came in weaker, as the company missed expectations for first quarter sales on Wednesday. President Trump's tariffs have impacted consumer demand in the US and other major markets. Reuters reports: Read more here. After weeks of back and forth, the US and China have agreed on a framework to implement the Geneva consensus that helped ease tariffs. The breakthrough came after two days of talks in London, including a marathon session on Tuesday. US Commerce Secretary Howard Lutnick said both sides had to "get the negativity out" before making progress. 'Now we can go forward to try to do positive trade, growing trade,' he said. As part of the deal, Beijing has promised to speed up shipments of rare earth metals, a crucial component for global auto and defense industries. Washington will ease export controls. This marks the first sign of movement on key issues. The proposal will now be presented to President Trump and China's Xi. Still, the discussions also did little to resolve a long-standing issue: China's trade surplus with the US. 'Markets will likely welcome the shift from confrontation to coordination,' said Charu Chanana, chief investment strategist at Saxo Markets. 'We're not out of the woods yet — it's up to Trump and Xi to approve and enforce the deal.' The meeting was set up after a phone call between the two leaders, following weeks of each side accusing the other of breaking the Geneva commitments. Both countries had used chips, rare earths, student visas and ethane as bargaining tools. Josef Gregory Mahoney, a professor at East China Normal University, said trust, not money, has been the biggest casualty of the trade war. 'We've heard a lot about frameworks,' he said. 'But the fundamental issue remains: Chips versus rare earths. Everything else is a peacock dance.' Bloomberg reports: Read more here. Sign in to access your portfolio
