Tariffs imposed by President Trump have generated tens of billions of dollars in revenue for the government — but the burden falls far from equally on different states.
The big picture: Who pays for tariffs is a long-settled issue — American businesses do, to the tune of billions of dollars, in places like California and Texas especially.
Why it matters: Cookout costs increased at a 12.7% annualized rate since President Trump announced the "Liberation Day" tariffs, analysis by the Joint Economic Committee's minority arm found.
Coinbase just made a bet on the future of new tokens with its acquisition of Liquifi, a platform for small startups to distribute and manage new tokens.
Why it matters: It's a sign the U.S.'s biggest crypto exchange is betting that regulators will soon ease restrictions on releasing and selling digital assets.
United Parcel Service plans to offer buyouts to drivers, in a move that's drawing opposition from the Teamsters union that represents them.
Why it matters: UPS has been taking steps to cut costs as it seeks greater profitability, having already announced plans to slash 20,000 positions, without specifying where the cuts would take place.
The trade association representing U.S. restaurants is asking President Trump for "targeted relief" from his immigration crackdown.
Why it matters: The president recently signaled a willingness to cut some slack for farms and hotels, saying "our very aggressive policy on immigration is taking very good, long time workers away from them."
By the numbers: AI startups received 53% of all global venture capital dollars invested in the first half of 2025, according to new data from PitchBook.
Bond investors are supposed to wag their fingers at runaway government spending, so a megabill set to increase the deficit by over $3 trillion would typically send them into a tailspin.
That's not happening. In fact, bonds just had their best first half of the year in five years.
Why it matters: Following its role in President Trump's reversal on tariff policy, the bond market has been viewed as a check on the administration.
President Trump wants to "drill baby drill." But many producers in the heart of the oil patch have other plans — and some say Trump's trade policies are discouraging drilling.
Why it matters: Many things affect gasoline prices. But producers' caution about growing output could limit how much prices at the pump might fall by helping avoid a large market glut of oil.
Press freedom advocates are sounding the alarm following Paramount's $16 million settlement with President Trump, arguing the deal sets a dangerous new precedent, particularly for smaller outlets with fewer legal resources.
Why it matters: A steady decline in media trust, coupled with enormous financial challenges, has made the press more vulnerable to political pressure campaigns than ever before.
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