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Facing a July 9 tariff deadline, the Wall Street Journal reports that President Trump plans to send letters threatening new duties—up to 70%—to dozens of countries unless trade deals are reached. While his administration has touted deals with Vietnam and China, it is understood that both lack formal documentation and face disputes. Trump’s April promise of “90 deals in 90 days” has yielded only three incomplete agreements. Treasury Secretary Bessent noted the letters would offer one last chance before tariffs resume. Meanwhile, India is preparing retaliatory tariffs, and unresolved terms with China and Vietnam further complicate Trump’s push to lock in trade wins this week.

 

New York Times

Wall Street Journal

President Trump’s new tax-and-spending bill slashes over $1trn in healthcare funding, primarily from Medicaid, prompting alarm from hospitals, doctors, and advocacy groups. The law enacts work requirements, income checks, and caps on state-directed payments, likely reducing Medicaid enrollment by 8.7m over a decade. Hospitals may lose $665bn in Medicaid payments while facing $84bn in added uncompensated care costs by 2034. “We’re going to have many millions more uninsured individuals showing up needing care,” said Beth Feldpush of America’s Essential Hospitals. Analysts expect service cutbacks, job losses, and rising premiums due to a shrinking insured pool.

 

Wall Street Journal

The Trump administration has initiated investigations into health care organizations, focusing on their ability to refuse care for transgender patients based on religious or moral grounds. The Department of Health and Human Services (HHS) is particularly scrutinizing the University of Michigan Health system following claims from former employee Valerie Kloosterman, who alleged she was fired for seeking a religious exemption from providing gender-affirming care. Elizabeth Sepper, a professor at the University of Texas, noted that the Church Amendments primarily allow objections to abortions and sterilizations, stating they “don't apply to gender-affirming care, by their very own text.” Kloosterman's attorney, Kayla Toney, expressed satisfaction with HHS's actions, emphasizing the importance of enforcing federal statutes that protect religious health care providers. The investigations signal a shift in HHS's approach, potentially complicating the treatment of transgender patients while prioritizing the rights of health care workers.

 

The Columbian

In June, U.S. employers added 147,000 jobs, showcasing the labor market's resilience amid uncertainties surrounding President Trump's economic policies. The Labor Department's monthly report also revealed that the unemployment rate decreased to 4.1%, down from 4.2% in May, with hiring surpassing economists' expectations. State government payrolls climbed by the most since the start of 2023, led by education, while employment at local governments also surged. Health care payrolls rose 59,000, the least in four months. Employment also moderated in leisure and hospitality, as a 20,000 increase in June followed a downward revision of similar size in May. Payrolls declined in manufacturing, wholesale trade and business services. Average hourly wages increased by 0.2% from May and 3.7% year-over-year, to $36.30. The Labor Department's weekly jobless report, meanwhile, revealed that initial claims for unemployment benefits fell 4,000 in the seven days to June 28th; the four-week moving average declined 3,750 to 241,500, while total claims, reported with a one-week lag, were unchanged at 1.964m. 

 

CNN

Los Angeles Times

Reuters

Wall Street Journal

The job market for recent graduates in the United States is facing significant challenges, with an unemployment rate of 5.8%, the highest since November 2013, excluding the pandemic period. The overall hiring for new graduates has decreased by 16% in 2025, with sectors like technology and finance particularly affected. Analysts attribute this trend to post-pandemic hiring slowdowns and economic uncertainty under President Trump's administration. Gregory Daco, chief economist at EY-Parthenon, noted that the hiring slowdown "disproportionately" impacts recent graduates. With rising student debt and a challenging job market, many young people are left feeling overwhelmed and uncertain about their futures.

 

Khaleej Times Online

Service workers in the U.S. are eagerly awaiting the elimination of taxes on their tips, but the fine print in Republicans' new law could limit savings for some workers. Only the first $25,000 in tips is free from income taxes, and tipped workers will still face the 7.65% combined payroll taxes that fund Social Security and Medicare. Workers won't be able to benefit if federal officials say their type of service job doesn't qualify. The "no tax on tips" measure, which started as a campaign promise by President Trump during a 2024 stop in Nevada, is now a key element of the tax-and-spending megabill signed into law Friday. The cut could save some service workers thousands of dollars a year in federal taxes. More than a third of tipped workers don't make enough to pay federal income taxes, including many low-income workers with children and students who work in part-time tipped jobs. The relief will take effect this tax year, including for tips already received.

 

Wall Street Journal

In Los Angeles, the Filipino restaurant Lasita has been affected by recent ICE raids, leaving staff and patrons in fear. Co-owner Chase Valencia described the atmosphere as "spooked" following the arrival of multiple ICE vans. The restaurant industry, heavily reliant on immigrant labor, has seen a significant drop in reservations and staffing issues. Corissa Hernandez, owner of Nativo, expressed frustration over the lack of clarity regarding immigration laws, stating, "We're business owners, we're not immigration experts." Many restaurant owners are now hosting workshops to educate their staff on their rights during potential ICE encounters. As Valencia noted, "You care so much, but you don't even know how to care," highlighting the emotional toll on both owners and employees. The situation has prompted a community response, with restaurants implementing new safety protocols to protect their workers.

 

The Columbian

Ford CEO Jim Farley has warned that AI could eventually replace half of U.S. white-collar jobs, joining other leaders like Amazon’s Andy Jassy in raising concerns about AI’s impact on the workforce. Speaking at the Aspen Ideas Festival, Farley emphasized the growing importance of the "essential economy" — skilled trades that build, move, and repair — arguing that vocational training has been undervalued and outdated. He highlighted major shortages in trade sectors, with hundreds of thousands of open roles in factories and construction. Farley urged a national mindset shift to recognize the value of trade work as a vital path to economic opportunity and sustainability.

 

Fortune

Retailers are integrating AI tools into operations—automating resume screening, labor forecasting, scheduling, and performance management—but this shift could affect store managers’ exemption status. Exempt vs. nonexempt classification hinges on responsibility, judgment, and time spent on key duties. As AI reduces managers’ discretion over hiring, scheduling, and oversight, employers must reassess roles to ensure compliance. If managerial tasks are minimized or reassigned, store managers may no longer meet criteria for exempt status under labor laws, potentially requiring reclassification as hourly employees.

 

Reuters

According to Deloitte's latest survey of CFOs, Britain has surpassed the United States and Japan as the most attractive investment destination. The survey, which included responses from 61 of the U.K.'s largest companies, revealed that 13% of executives consider the U.K. very or somewhat attractive for investment. "These results reveal a shift in sentiment," Richard Houston, senior partner and chief executive of Deloitte UK, said. "This renewed confidence, coupled with a rise in risk appetite...underscores the considerable investment potential the U.K. offers." The positive outlook marks a significant change from the previous year when other regions were preferred over the U.K. However, geopolitical fears continue to be the primary concern for CFOs.

 

The Daily Telegraph

The Times

Tesla’s dominance in China is slipping as local EV makers outpace it with faster innovation and consumer-focused features like built-in screens, fridges, and selfie cameras. While Tesla once thrived on Chinese government support, its market share is shrinking, and Beijing is prioritizing domestic firms. Despite Elon Musk’s importance to China’s green economy, his feud with Trump has diminished his geopolitical value to Beijing. Tesla has cut prices and plans a new Model Y variant for 2026, but sluggish responses to local feedback and regulatory delays for its Full Self-Driving software threaten its future in its second-largest market.

 

Wall Street Journal

Brazil, Guyana, and Argentina are powering over 80% of non-OPEC global oil growth through 2029, as geopolitical tensions and maturing U.S. shale fields redirect investment south. Brazil's Petrobras plans $111bn in investments, Guyana’s production could double by 2027, and Argentina's Vaca Muerta shale output has soared. Guyana may soon lead global oil production per capita, while Suriname is attracting billions in offshore investment. South America’s low-cost, lower-emission oil is drawing major players like Exxon and Chevron, with Brazil hailed as a stable investment haven compared to past collapses in Venezuela and Bolivia.

 

Wall Street Journal

Health Secretary Robert F. Kennedy Jr.’s campaign to remove synthetic dyes from food has won support from major brands like Kraft Heinz and PepsiCo, but candy companies remain resistant. While Mars removed titanium dioxide from Skittles, it refuses to reformulate M&M’s without federal regulation. “RFK and his team are learning the limits of their power to persuade,” said attorney Scott Faber. Natural dyes are costlier, less vibrant, and harder to mask in flavor. State laws, like bans in West Virginia starting 2028, may force the industry to comply. “They’re either going to comply or lose the market,” Faber added.

 

New York Times

The launch of the Regulatory Innovation Office (RIO) in the U.K. on July 1, 2025, marks a significant shift in how digital economy regulations are managed. Technology Secretary Peter Kyle emphasized that developers will soon query an API instead of sifting through lengthy PDFs. RIO aims to unify guidance from various regulatory bodies into a machine-readable library, allowing for real-time updates and compliance checks. The initiative is backed by a £20m ($27m) fund to encourage open-source collaboration among regulators and startups. As Kyle stated: "If RIO succeeds, compliance becomes a software dependency." This transformation could revolutionize the fintech landscape, making compliance as seamless as software development. However, challenges remain, including the need for interoperability and addressing liability issues.

 

Forbes

Del Monte Foods has filed for Chapter 11 bankruptcy protection after struggling with rising borrowing costs, pandemic missteps and a changing global economy. The 138-year-old company, known for its canned fruits and vegetables, is going through a sale process for all of its assets. It has secured $912.5m in new funding to remain afloat during the sale process, and will operate as normal as it enters the peak canning season. During the coronavirus pandemic, when more people were eating at home, demand rose to record highs, Del Monte said in the filing, and the company committed to higher production levels. However, demand softened in the years since, leaving it with bloated stocks that had to be sold at a "substantial" loss. Del Monte is also carrying a large amount of debt, which was added to its books following its acquisition in 2014 by Del Monte Pacific Limited.

 

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Fox News

New York Times