The big picture: The world's richest man — who before his explosive fallout with President Trump said he'd do a lot less political spending moving forward — became a GOP mega-donor last year. Now, the billionaire seems intent on carving a new political path.
Countries that don't make trade deals with the U.S. by August 1 can expect tariff rates to return to the levels announced in April, Treasury Secretary Scott Bessent said Sunday.
Why it matters: It's effectively a new deadline for the biggest U.S. trading partners to negotiate an alternative to President Trump's sweeping global tariffs — even as Bessent insists nothing had changed.
Americans live in separate economic realities: Those with a job are likely to stay employed, but those without one are likely to stay unemployed.
Why it matters: Welcome to the low-hire, low-fire labor market. Private-sector layoffs are at historic lows, but that masks a dreadful outlook for unemployed workers or those unhappy with their current positions.
It's not food, it's not chewing tobacco and it's not gum — though it might look like it when you see it — but it is becoming America's new addictive obsession.
Why it matters: Sales of Zyn nicotine pouches are soaring, prompting the tobacco company that makes them to scramble to boost U.S. production to meet demand.
