Your morning briefing. All the news you need to start your day.
On today's podcast:
(1) The US will collect duties of between 10% and 12.5% on imports from most major trading partners, its biggest move yet to reconstruct President Donald Trump’s tariff wall that was pierced by the Supreme Court.
(2) President Donald Trump threatened to escalate strikes on Iran and said he’d hold the country responsible for any further attacks by the Yemen-based Houthis on ships in the Red Sea, as the widening Middle East war puts new strain on global energy supplies.
(3) Wall Street is growing increasingly concerned about the hundreds of billions of dollars Big Tech is spending on artificial intelligence just as the resurgence of the war in Iran clouds the global macroeconomic outlook.
(4) European Central Bank officials are prepared to raise borrowing costs in September unless the euro-zone inflation outlook improves markedly, people familiar with the situation said.
(5) Prime Minister Andy Burnham will open a new branch of 10 Downing Street in north-west England on Friday in an attempt to demonstrate his vision for devolving power away from London.
(6) When the Trump administration shut down USAID, officials rejected warnings that ending the agency's work would put lives at risk. Now, a Bloomberg investigation has linked an unfinished US-funded irrigation project in Kenya to the worst flooding one village has experienced in at least a decade.
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