Sticking with the deadline

Good morning. Donald Trump sticks with his tariff deadline. The president’s “Big Beautiful” bill may be in hot water in the House of Representatives. And a startup unveils its “transparent” smartphone... Listen to the day’s top stories.

Donald Trump is sticking to his July 9 deadline for higher duties to kick in again, and deepened his criticism of Japan, saying “I’m not sure we’re going to make a deal.” Japan said it’s engaging in talks in good faith, but the threat fueled fears of a worst-case scenario and raised doubts over Tokyo’s tactics. One of the bigger sticking points is the auto sector. As a reminder, here’s our definitive guide to Trump-style trade talks.

The president’s “Big Beautiful” bill is in the spotlight again. The tax proposal may face Republican resistance in the House of Representatives after squeaking through the senate with a tie-breaking vote. Read here exactly what is in the multitrillion-dollar tax and spending package.

A setback for Apple. Foxconn asked hundreds of Chinese engineers and technicians to return home from its iPhone factories in India, a move set to add to jitters on Wall Street about an “irrational market exuberance.” So far today, US equities are holding firm (just about) and look set to maintain their rally.

Paramount reached a settlement with Trump over a lawsuit that alleged election interference by its CBS news network, when it showed different versions of a 60 Minutes interview with then-Vice President Kamala Harris. Paramount is also waiting for the Federal Communications Commission to approve its merger with Skydance Media.

Cars, cars, cars. Stellantis said yesterday its deliveries in the US fell 10% in the second quarter, even as sales of Jeep and Ram brands improved. Today, Tesla may report deliveries fell about 12% from a year earlier.

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Deep Dive: Wimbledon's Seat Market

For two weeks every summer, the Centre Court at Wimbledon is where fans can watch the best tennis players in the sport’s most prestigious amphitheater. But for some of those holding the most expensive tickets, it’s not even worth attending.

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The Big Take

Beneath layers of waste, landfills around the US have been reaching scorching temperatures, spewing toxic gases and geysers of trash juice. Read the story.

Opinion

The US-Israeli attack on Iran was a net positive for Vladimir Putin as it sucked attention and resources away from Ukraine, Marc Champion writes. Looking ahead, the Pentagon may make even fewer air defenses available for Kyiv.

Before You Go

When bold designs get even bolder. Hardware startup Nothing unveiled its $799 Phone 3 and $299 Headphone 1, both with transparent designs that show the circuitry inside. The CEO of the company said the phone has useful functions and “more stupid, fun features.”

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