Trump Signs Tax Bill, Ukraine Conflict Updates, Trade Tariffs, and More

Domestic Policy and Economic Measures

• 🏛️ President Trump is set to sign a new tax and spending bill at the White House, extending his 2017 tax cuts.
• 🚗 Federal tax incentives for electric vehicles will end after September 30th, potentially shifting market share to pure EV makers.
• 🏠 In Massachusetts, landlords will now be responsible for paying broker fees, offering relief to renters.

International Relations and Conflicts

• 🇺🇦 Ukrainian President Zelensky spoke with President Trump following a Russian missile and drone attack on Kyiv.
• 🤝 The U.S. and Ukraine agreed to cooperate on air defense, with government teams set to meet.
• 🇮🇷 Inspectors from the UN's atomic watchdog have left Iran, obscuring the status of Tehran's nuclear program.

Global Trade and Defense

• 📈 The U.S. plans to notify trading partners of new tariffs on exports, potentially ranging from 10% to 70%, effective August 1st.
• 🇪🇺 The EU has until July 9th to secure a trade deal with the U.S. to avoid a 50% tariff on most of its exports.
• 🛡️ Germany is considering spending €25 billion on armored fighting vehicles and tanks to strengthen NATO's deterrent against Russian aggression.
• semiconductor smuggling into China, targeting AI chips.

Economic Impact and Market News

• 📊 New analysis suggests tariffs could cost some U.S. employers over $82 billion, with retail and wholesale sectors being particularly vulnerable.
• 🇩🇪 Shares in German defense company Rheinmetall saw a rise following news of increased defense spending plans.

Other News

• ✈️ A strike by French air traffic controllers has led to the cancellation of approximately 40% of flights to Paris airports.
• 🌭 Joey Chestnut won the Nathan's Famous hot dog eating contest for the 17th time, downing 62 hot dogs.