Good morning, everyone!
A programming note: Everything Briefing will be out tomorrow in observance of the Independence Day holiday and will return on Monday.
Today, we will look at President Donald Trump’s domestic policy bill, developments across the Americas and Asia, and other news spanning the globe.
Let’s get to it.
Africa
-Annual inflation in Ghana eased to 13.7% in June, the lowest since December 2021 and the sixth consecutive monthly decline. Food inflation slowed to 16.3% from 22.8% in May.
The data comes as the West African country emerges from its worst economic crisis in decades.
-Kenyan President William Ruto said he would move to privatize state assets as Nairobi seeks to lure private sector investment.
-The International Monetary Fund’s executive board unlocked $262.3 million in financing to Ethiopia.
-The European Union’s top immigration official is expected to push Libyan authorities to rein in illegal migration across the Mediterranean on a visit to the North African country next week.
Other Links:
ECOWAS calls for restraint in violent protests in Togo - Africa News
Al-Qaida-linked group claims attack against Mali army position near Senegal - AP
Uganda military says helicopter that crashed in Somali capital is theirs - Reuters
Nigeria needs to recalibrate its budget for lower oil prices, says IMF - Reuters
IMF says it remains engaged with Senegal, Sonko promises 'recovery plan' - Reuters
Americas and the Caribbean
-Brazilian President Luiz Inácio Lula da Silva visited former Argentine President Cristina Fernández de Kirchner in Buenos Aires yesterday. Kirchner is on house arrest after a court upheld her conviction on corruption charges last month.
-Brazil and Mexico are currently in preliminary talks to expand their bilateral trade pact, according to the Financial Times.
The countries—who boast the two largest economies in Latin America—are seeking to expand their economic ties amid global trade tensions.
-A senior United Nations official said that criminal gangs now exercise “near-total control” over Haiti’s capital, Port-au-Prince.
-Costa Rica’s highest court called on the legislature to strip President Rodrigo Chaves of his immunity from prosecution so he can face corruption charges.
-Leaders from the BRICS (Brazil, Russia, India, China, and South Africa) bloc will meet today in Buenos Aires, Argentina.
Chinese President Xi Jinping and Russian leader Vladimir Putin will not attend the gathering.
Separately, leaders from the Caribbean Community (CARICOM) will meet in Jamaica on Sunday for a summit meeting.
The 15-member grouping was founded in 1973 and seeks to foster regional economic integration and political cooperation.
-Indian Prime Minister Narendra Modi will visit Trinidad and Tobago today.
Other Links:
Mercosur, European EFTA bloc conclude talks on free-trade deal - Buenos Aires Times
Argentina's top court finds a dozen boxes of Nazi materials in its basement - Reuters
Secret recordings unite Colombian politicians against attempt to overthrow President Petro - El País
Son of ‘El Chapo’ to plead guilty in US drug trafficking case - AP
Hurricane Flossie weakens to Category 2 off Mexico’s Pacific coast - AP
Asia/Indo-Pacific
-President Donald Trump said on Wednesday that Washington had reached a trade agreement with Vietnam, setting tariff rates at 20% on many of the Southeast Asian country’s exports.
-Cambodian Prime Minister Hun Manet said his country would not participate in negotiations with Thailand until Bangkok reopened all of its border crossings. The standoff comes after a clash between the two countries’ militaries in May.
The row has caused a political crisis in Thailand.
-The Quadrilateral Security Dialogue—composed of the United States, Australia, India, and Japan—pledged to cooperate on acquiring critical minerals.
-North Korea dispatched a delegation from a military academy to Russia this week.
The visit comes after the two countries pledged to deepen defense ties last year, and follows Pyongyang’s deployment of troops to Russia to support its war against Ukraine.
-The U.S. Justice Department charged two Chinese nationals with espionage.
-Singaporean Prime Minister Lawrence Wong made his inaugural visit to Cambodia yesterday.
Other Links:
Asia-Pacific markets open mixed as investors assess U.S.-Vietnam trade deal - CNBC
The Dalai Lama says he plans to reincarnate, ensuring the institution will continue - AP
PLA landing ship spotted off northern Taiwan ahead of major military drill - South China Morning Post
Bangladesh's ex-PM sentenced in absentia to jail for contempt - Reuters
Japan’s emperor says he will honor Japanese POWs who were held in Mongolia - AP
Europe
-Ukraine summoned the top U.S. official stationed in the country after Washington placed a pause on its weapons shipments to Kyiv.
A White House spokesperson confirmed the pause, which reportedly includes air defense missiles and other precision weapons.
-Russia’s unemployment rate hit an all-time low, according to government data.
-The North Atlantic Treaty Organization (NATO) will conclude its Anatolian Eagle exercises tomorrow.
Separately, the European Union and Moldova will hold their first summit meeting in Chișinău.
The 27-member bloc granted Moldova candidate status in June 2022.
Other Links:
Scorching European heatwave turns deadly in Spain, Italy and France - BBC
Record-breaking temperatures scorch Europe, close Eiffel Tower summit - CBS
Von der Leyen's European Commission faces no-confidence vote - DW
Lithuania’s defense chief praises Philippine campaign exposing China’s aggression - AP
Austria set to deport man to Syria, marking first for EU since Assad's fall - Reuters
Middle East
-Hamas said it was reviewing a ceasefire proposal one day after President Donald Trump announced that Israel had agreed to its terms. The offer, which Trump labeled as “final,” calls for a 60-day halt in fighting between Israeli forces and the terrorist group in the besieged Gaza Strip.
-The Iranian government suspended its cooperation with the International Atomic Energy Agency (IAEA), the United Nations nuclear watchdog.
-Saudi Arabia and Indonesia inked a slew of business deals on Wednesday as Indonesian President Prabowo Subianto made his inaugural visit to the Gulf kingdom.
-The Bank of Israel will announce changes to its benchmark interest rate next week.
Ten of 11 economists polled by Reuters said they expect policymakers to hold rates steady at 4.5% at their Monday meeting as inflation has slowed more than expected but still above their target rate.
-Eight member states of the Organization of the Petroleum Exporting Countries (OPEC) will convene a virtual meeting on Sunday.
Other Links:
US contractors say their colleagues are firing live ammo as Palestinians seek food in Gaza - AP
Iranian nuclear program degraded by up to two years, Pentagon says - Reuters
US bombing "seriously damaged" Iran's Fordow nuclear site, FM says - Reuters
US calls reported threats by pro-Iran hackers to release Trump-tied material a ‘smear campaign’ - AP
Turkish cartoonist jailed pending trial over drawing accused of insulting Prophet - Reuters
United States
-As of early Thursday morning, the House of Representatives was still voting on a procedural motion to advance President Donald Trump’s domestic policy bill, as Republican leadership struggled to win over conservative holdouts. Speaker Mike Johnson said he would keep the vote open until he secured the majority needed for passage.
The Senate passed the behemoth legislation on Tuesday.
Trump scorned the undecided lawmakers on his Truth social media platform last night.
The package includes an extension of Trump’s 2017 tax cuts, major changes to Medicaid, and border enforcement measures, along with a litany of other Republican policy priorities.
View a breakdown of nearly every component of the sweeping legislation here.
-The Trump administration released around 150 California National Guard troops from federal duties in Los Angeles.
-Tesla reported another quarterly drop in sales.
-The U.S. economy shed 33,000 private sector jobs in June, according to data from payroll provider ADP.
The Bureau of Labor Statistics will release the June jobs report this morning at 8:30 A.M. EST.
-A federal judge blocked the Trump administration’s asylum ban at the U.S.-Mexico border.
-The Wisconsin Supreme Court overturned the state’s 176-year-old abortion ban.
-A record number of Americans are expected to travel over the Fourth of July holiday weekend, according to travel industry data.
-Anti-Trump protests are expected across the country this weekend.
Other Links:
Trump asks Supreme Court to permit firings on consumer safety board - Politico
Paramount settles Trump’s ‘60 Minutes’ lawsuit with $16 million payout and no apology - CNN
House Republican calls for emergency briefing on Ukraine weapons freeze - The Hill
Trump tours 'Alligator Alcatraz,' a day before its first arrivals are expected - NPR
Biden, in Rare Remarks Since Presidency, Warns His Accomplishments Are Coming Undone - The Wall Street Journal
To help party brand, Democrats prepare "Organizing Summer" - CBS
That’s all for today. See you next week.
Notes:
https://scowcroft.substack.com/p/tsg-weekly-calendar-june-30-july
The millions who will no longer be eligible for Medicaid should at least take comfort in the fact that the rich will become much richer. Let’s bring out the champagne to toast the “big beautiful bill”!