*By Michael Teich*
Wall Street applauded a better-than-expected June jobs report, sending the Dow Industrials Index nearly 100 points higher Friday.
Despite those numbers, though, the U.S. economy is still grappling with growing trade tensions with China and Europe. The Trump administration's tariffs officially went into effect early Friday morning as the U.S. followed through on its threat to impose taxes on $34 billion of Chinese imports. China promptly responded with a similarly seized tariffs on U.S. goods, including pork, soybeans, and electric vehicles.
If trade wars accelerate, "the downside risks outweigh the upside risks," said Mark Hamrick, Senior Economic Analyst, Bankrate.com.
"The trade disputes are having impacts that are real in the economy right now."
The U.S. added 213,000 jobs in June, topping the forecast of 195,000. It was the 93rd consecutive month of job growth. The unemployment rate, however, rose to 4 percent as more people returned to the job market searching for work.
For the full segment, [click here.](https://cheddar.com/videos/u-s-job-growth-beats-expectations)
Rep. George Santos has pleaded not guilty to charges alleging financial fraud at the heart of a political campaign built on dubious boasts about his personal wealth and business success.
The charges are under seal, said th
A jury has found Donald Trump liable for sexually abusing advice columnist E. Jean Carroll in 1996.
Before President Joe Biden and congressional leaders can even try to avert an unprecedented U.S. government default, their initial challenge on Tuesday will be to agree on what exactly they’re talking about as they hold their first substantive meeting in months.
A number of noncitizens appear to have been missed in the 2020 census.
Cheddar News checks in on what to look for on The Day Ahead as President Joe Biden meets with House Speaker Kevin McCarthy to look to resolve the debt ceiling debate. Earnings are also slated to be reported from companies including Airbnb, AMC Networks, Electronic Arts and Nintendo.
The White House and Congress could strike a deal to raise the debt ceiling in exchange for budget cuts.
California's reparations task force voted to approve recommendations for how the state should compensate Black residents for discriminatory policies.
As fears of a national debt default rise, House Minority Leader Hakeem Jeffries told NBC's "Meet the Press" that he isn't ruling out a short-term bill to raise the debt ceiling. At the same time, he said he doesn't think "the responsible thing is to kick the can down the road."
The Biden administration is starting work on new regulations it says will expand the rights of airline passengers.
