June 05, 2026
Europe's heavy reliance on energy imports has left it exposed to spiralling prices since the Strait of Hormuz was effectively closed
Uncertainty over financing is threatening bond market stability
Tariff revenue would offset the deficit increases triggered by the Republicans' tax-cut and spending bill passed this year
With the US closed for Independence Day, attention turns to Trump's July 9 deadline when sweeping tariffs take effect on countries like Japan
A procedural vote on the bill passed 220-212 along party lines, an indication but not a guarantee that Trump may have won over sceptics
Senators were voting in a marathon session known as a "vote-a-rama," featuring a series of amendments by Republicans and the minority Democrats
Senate bill adds $3.3 trillion to national debt, CBO says. Republicans have rejected the CBO's longstanding methodology to calculate the cost of legislation
The measure, Trump's top legislative goal, passed its first procedural hurdle in a 51 to 49 vote, with two Republican senators voting against it
