*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)
More than 119,000 people have been injured by tear gas and other chemical irritants around the world since 2015 and some 2,000 suffered injuries from “less lethal” impact projectiles, according to a report released Wednesday.
President Joe Biden is calling for more transparency by signing the COVID-19 Origins Act.
TikTok has rolled out updated rules and standards for content and its CEO warned against a possible U.S. ban on the video sharing app as he prepares to face Congress.
Tens of thousands of workers in the Los Angeles Unified School District walked off the job Tuesday over stalled contract talks, and they are being joined in solidarity by teachers in a three-day strike that has shut down the nation’s second-largest school system.
Treasury Secretary Janet Yellen is trying project calm after regional bank failures, saying the U.S. banking system is “sound” but additional rescue arrangements “could be warranted” if any new failures at smaller institutions pose a risk to financial stability.
Ted Lasso Cast Visits White House to Promote Mental Health & Wellness
California Gov. Gavin Newsom over the weekend announced that the state has secured a contract with CIVCA to make $30 insulin available to all who need it. He also announced that the state will start manufacturing Naloxone, an emergency medication used to rapidly reverse the effects of an opioid overdose.
The International Criminal Court said Friday that it has issued an arrest warrant for Russian President Vladimir Putin for war crimes, accusing him of personal responsibility for the abductions of children from Ukraine.
Cash-short banks have borrowed about $300 billion from the Federal Reserve in the past week, the central bank announced Thursday.
A total of 33 states and the District of Columbia now allow at least some form of sports wagering, but the prospects are mixed for expanding sports betting to additional states this year.
