*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 IRS plans to invite select taxpayers across 13 states to try out the agency's pilot electronic free file tax return system beginning in January.
Russian President Vladimir Putin arrived in Beijing, underscoring China's continued support of Moscow amid Russia's ongoing war in Ukraine.
The Justice Department is appealing the prison sentence of the lengths of four Proud Boys leaders who were convicted in the January 6th Capitol attack.
Supreme Court Justice Amy Coney Barrett endorsed the idea that the court adopt a formal code of conduct.
The Supreme Court ruled it would allow the Biden administration to regulate so-called ghost guns, or those untraceable homemade weapons, and also barred two Texas-based manufacturers from selling products that can be turned into ghost guns.
The Commerce Department on Tuesday updated and broadened its export controls to stop China from acquiring advanced computer chips and the equipment to manufacture them.
And in a surprise move, President Joe Biden has joined former President Trump's Truth social platform.
The Supreme Court ruled it would allow the Biden administration to regulate so-called ghost guns, or those untraceable homemade weapons, and also barred two Texas-based manufacturers from selling products that can be turned into ghost guns.
Former President Donald Trump returned to a New York City courtroom Tuesday to watch the civil fraud trial that threatens to disrupt his real estate empire, renewing his claims that the case is a baseless and politically targeted distraction from his 2024 campaign.
Over 30 people were arrested outside of the White House Monday during a protest against the Israel-Hamas war.
