*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)
The world is in a “sorry state" because of myriad “interlinked” challenges including climate change and Russia's war in Ukraine that are “piling up like cars in a chain reaction crash,” the U.N. chief said at the World Economic Forum's meeting Wednesday.
European Commission President Ursula von der Leyen presented the outlines for her “Green Deal Industrial Plan” at the World Economic Forum at Davos.
For the first time in decades, China has fewer people than it did at the start of last year, according to official figures released Tuesday.
Solomon Pena was arrested in connection with a recent series of drive-by shootings targeting Democratic lawmakers in New Mexico.
The request comes after the White House's weekend disclosure that more classified records were found at the president's Delaware residence.
The winter meetup of CEOs and heads of state is the first since 2020.
The U.S. Treasury notified Congress that the debt ceiling could hit next week.
Google said a liability case before the Supreme Court could potentially "upend the internet" and lead to massive censorship online.
Treasury Secretary Janet Yellen notified Congress on Friday that the U.S. is projected to reach its debt limit on Thursday and will then resort to “extraordinary measures” to avoid default.
Thousands of New York City nurses are back at work after a strike ended at two of the city's biggest hospitals.
