U.S. Adds Jobs in June, But Trade War Could Slow Growth
*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 House voted on Friday to expel Republican Rep. George Santos of New York after a critical ethics report on his conduct that accused him of converting campaign donations for his own use. He was just the sixth member in the chamber's history to be ousted by colleagues.
A New York appeals court Thursday reinstated a gag order that barred Donald Trump from commenting about court personnel after he continually disparaged a law clerk in his New York civil fraud trial.
Most U.S. cities would have to replace lead water pipes within 10 years under strict new rules proposed by the Environmental Protection Agency as the Biden administration moves to reduce lead in drinking water and prevent public health crises like the ones in Flint, Michigan and Washington, D.C.
Former Secretary of State Henry Kissinger, the diplomat with the thick glasses and gravelly voice who dominated foreign policy as the United States extricated itself from Vietnam and broke down barriers with China, died Wednesday, his consulting firm said. He was 100.
