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Tesla shares slumped July 1 as the war of words between Elon Musk and President Donald Trump over the tax bill and spending cuts heats up, with Musk saying he may form a new political party.

The springtime surge in U.S. auto sales landed with a thud in June, setting up a slowdown in the months ahead as carmakers digest tariffs on auto imports and consumers find fewer deals.

The U.S. will start reopening ports to Mexican livestock in phases, after trade along the southern border had been halted in May by the spread of a parasitic fly.

President Donald Trump threatened to impose a fresh tariff level on Japan, citing what he said was the country’s unwillingness to accept rice exports from the U.S.

The EU  is willing to accept a trade arrangement with the U.S. that includes a 10% universal tariff on many of the bloc’s exports, but wants the U.S. to commit to lower rates on key sectors.

The U.K. is planning to keep its digital services tax, after Prime Minister Mark Carney scrapped Canada’s levy to restart trade talks with President Donald Trump’s administration.

With just 10 days to go until U.S. country-specific tariffs are set to resume, the White House appears poised to fall short of the sweeping global trade reforms it promised to achieve.

U.K. car manufacturers can export to the U.S. under a 10% tariff starting June 30, a reduction from the 25% rate imposed by President Donald Trump on other countries.

Canadian Prime Minister Mark Carney said late June 29 that trade talks with U.S. have resumed after Canada rescinded its plan to tax U.S. technology firms.

President Donald Trump says he is not planning to extend a 90-day pause on tariffs on most nations beyond July 9, when the negotiating period he set would expire.