India has reportedly offered the US steep tariff cuts but is seeking to retain high duties on some agricultural commodities, such as food grains and dairy products, according to a report in the FT on Wednesday.

President Donald Trump’s massive tax and immigration package is headed to the Senate for consideration after narrowly passing the House on Thursday morning. Changes are expected in the Senate. House Republicans labored overnight to secure votes needed to pass the One Big Beautiful Bill.

The European Union has agreed to fast-track trade talks with the US in a bid to avoid President Trump's 50% tariffs — which, in an about-face, he announced would be delayed until July 9. "This is a positive event,

President Donald Trump addressed graduates at the US Military Academy in West Point, New York, yesterday, making his second college commencement speech of the year.

The White House requested the original assessment in February as it was preparing Mr. Trump’s Alien Enemies Act proclamation. Even after the council produced its first assessment, Mr. Trump proceeded to sign the proclamation that put forward the opposite claim in order to activate wartime deportation powers.

Stocks are eyeing a return to the feverish rebound of the past month, which took a pause as growing concerns about the fiscal deficit sent Treasury yields roaring higher and President Trump once again threatened to escalate tariffs.