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)
President Joe Biden swept into wartime Israel for a 7 1/2-hour visit Wednesday that produced a heaping dose of vocal support and a deal to get limited humanitarian aid into Gaza from Egypt.
The Pentagon has sent “prepare to deploy” orders to about 2,000 U.S. troops to be ready to respond to the Israel-Hamas war, two U.S. officials said on the condition of anonymity to discuss a decision that has not been announced yet.
The head of Israel’s Shin Bet security service has taken responsibility for not warning of the bloody Oct. 7 Hamas rampage that killed over 1,400 Israelis.
Republicans rejected Rep. Jim Jordan for House speaker on a first ballot Tuesday, as an unexpectedly numerous 20 holdouts denied the hard-charging ally of Donald Trump the GOP majority needed to seize the gavel.
The federal judge overseeing the 2020 election subversion case against Donald Trump in Washington imposed a narrow gag order on him on Monday, barring the Republican former president from making statements targeting prosecutors, possible witnesses and the judge's staff.
A 71-year-old Illinois man accused of fatally stabbing a 6-year-old boy and seriously wounding a 32-year-old woman was charged with a hate crime Sunday.
Republicans chose Rep. Jim Jordan as their new nominee for House speaker on Friday during internal voting, putting the gavel within reach of the staunch ally of GOP presidential front-runner Donald Trump.
American citizens in Israel can start leaving the country on charter flights starting Friday after the State Department said flights will take Americans and immediate family members to either Athens, Greece or Frankfurt, Germany.
