Trump threatens Japan with new tariffs, claiming it won't buy America's rice

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  • Trump threatens Japan with new tariffs, claiming it won't buy America's rice</p>

<p>Elisabeth Buchwald, CNNJuly 1, 2025 at 5:40 AM</p>

<p>President Donald Trump said Monday that Japan "won't take" rice from the United States, prompting him to threaten higher tariffs. - Bill & Brigitte Clough/Design Pics Editorial/Universal Images Group/Getty Images</p>

<p>President Donald Trump is threatening to impose higher tariffs on Japanese exports to the United States over what he claims is the country's unwillingness to buy American-grown rice.</p>

<p>"They won't take our RICE, and yet they have a massive rice shortage. In other words, we'll just be sending them a letter, and we love having them as a Trading Partner for many years to come," Trump said in a post on Truth Social.</p>

<p>Trump's claim that Japan "won't take" rice from the US isn't true. The country bought $298 million worth of rice from the US last year, according to US Census Bureau trade data. Between January and April of this year, Japan bought $114 million worth of rice.</p>

<p>However, it's unclear if Japanese officials involved in ongoing trade negotiations between the two countries have said they will stop buying rice from the US in the future. On Tuesday, Chief Cabinet Secretary Yoshimasa Hayashi said that trade talks between the two sides are ongoing, and that the Japanese government is aware of Trump's claim, though he declined to comment on it.</p>

<p>"While we refrain from disclosing the specifics of our discussions with the US, Japan will continue to vigorously pursue sincere and honest discussions with the aim of achieving an agreement that will benefit both Japan and the US," he said.</p>

<p>A 2021 report published by the Office of the United States Trade Representative under former President Joe Biden stated that "Japan's highly regulated and nontransparent system of importation and distribution for rice limits the ability of US exporters to have meaningful access to Japan's consumers." A source familiar with Trump's thinking told CNN that's what he was referring to in his post.</p>

<p>Trump has said recently that his administration plans to send some foreign countries letters advising them of what their new tariff rates could be, following the pause of his April "reciprocal" tariffs on US trading partners.</p>

<p>And in a Fox News interview that aired on Sunday, Trump singled out Japan as one of the possible countries set to receive a letter.</p>

<p>"Dear Mr. Japan, here's the story: You're going to pay a 25% tariff on your cars," he said.</p>

<p>Trump's Truth Social message comes with just days to go until the July 9 deadline when his 90-day pause on those "reciprocal" tariffs expires. It's unclear what will happen to tariff rates for the dozens of impacted countries.</p>

<p>Before Trump announced the pause, Japanese exports were briefly subjected to a minimum tariff rate of 24%. Since the pause went in effect, they've been subject to the universal 10% rate.</p>

<p>White House National Economic Council Director Kevin Hassett on Monday suggested that negotiations with Japan are ongoing.</p>

<p>"Nothing is over," Hassett told reporters at the White House. "I know what he just posted, but there'll still be discussions right up till the end. Even if we get a framework, then there's still gonna be things to finalize."</p>

<p>This story has been with the comment of the Japanese government.</p>

<p>CNN's Yumi Asada and John Liu contributed reporting.</p>

<p>For more CNN news and newsletters create an account at CNN.com</p>

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Trump threatens Japan with new tariffs, claiming it won’t buy America’s rice

<p>- Trump threatens Japan with new tariffs, claiming it won't buy America's rice</p> <p>Eli...

Japanese manufacturers are slightly more optimistic despite Trump tariff worries

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  • Japanese manufacturers are slightly more optimistic despite Trump tariff worries</p>

<p>YURI KAGEYAMA July 1, 2025 at 4:15 AM</p>

<p>FILE - The headquarters of Bank of Japan (BOJ) is seen in Tokyo, on Aug. 18, 2023. (AP Photo/Shuji Kajiyama, File)</p>

<p>TOKYO (AP) — Business sentiment among large Japanese manufacturers has improved slightly, according to a survey by Japan's central bank released Tuesday, although worries persist over President Donald Trump's tariffs.</p>

<p>The Bank of Japan's quarterly tankan survey said an index for large manufacturers rose to plus 13 from plus 12 in March, when it marked the first dip in a year. The survey is an indicator of companies foreseeing good conditions minus those feeling pessimistic.</p>

<p>Major manufacturers include auto and electronics sectors, whose exports to the U.S. drive the Japanese economy.</p>

<p>U.S. auto tariffs are a worry for major manufacturers like Toyota Motor Corp., but some analysts note global auto sales have held up relatively well in recent months.</p>

<p>The U.S. has imposed 25% tariffs on auto imports. Japanese automakers have plants in Mexico, where President Donald Trump has announced a separate set of tariffs. The U.S. has also imposed 50% tariffs on steel and aluminum.</p>

<p>Japanese officials have been talking frequently with the Trump administration, stressing that Japan is a key U.S. ally.</p>

<p>Trump posted on his social media site Monday that Japan wasn't buying enough rice from the U.S. "They won't take our RICE, and yet they have a massive rice shortage," the president wrote, adding that a letter to Japan was coming.</p>

<p>Also on Monday, National Economic Council director Kevin Hassett told reporters at the White House that Trump "is going to finalize the frameworks we negotiated with a whole bunch of countries after the weekend."</p>

<p>The Bank of Japan, which has kept interest rates extremely low for years to encourage growth, is expected to continue to raise interest rates, but some analysts expect that to wait until next year.</p>

<p>The central bank raised its benchmark rate to 0.5% from 0.1% at the start of this year and has maintained that rate. The next Bank of Japan monetary policy board meeting is at the end of this month. The tankan findings work as important data in weighing a decision.</p>

<p>The weak yen has raised the cost of materials for Japan at a time when the U.S. dollar has been trading at around 140 yen, up considerably from about 110 yen five years ago. A weak yen is a boon for Japan's exporters by boosting the value of their earnings when converted into yen.</p>

<p>The tankan showed sentiment for large non-manufacturers fell to plus 34 from plus 35. That was better than some forecasts, which projected a deeper decline.</p>

<p>The Japanese government reported last week that the nation's unemployment rate in May stood at 2.5%, unchanged from the previous month.</p>

<p>___</p>

<p>Yuri Kageyama is on Threads: https://ift.tt/oN9ikw7>

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Japanese manufacturers are slightly more optimistic despite Trump tariff worries

<p>- Japanese manufacturers are slightly more optimistic despite Trump tariff worries</p> <p>YURI KA...

Photos at Canfield Mountain, Idaho, where firefighters came under deadly attack

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  • Photos at Canfield Mountain, Idaho, where firefighters came under deadly attack</p>

<p>July 1, 2025 at 4:17 AM</p>

<p>1 / 10APTOPIX Idaho Firefighters ShotSmoke fills the air the day after a shooter ambushed and killed multiple firefighters responding to a wildfire at Canfield Mountain Monday, June 30, 2025, in Coeur D'Alene, Idaho. (AP Photo/Lindsey Wasson)</p>

<p>COEUR D'ALENE, Idaho (AP) — Smoke continued to fill the air at Canfield Mountain after a shooter killed firefighters responding to a wildfire in Coeur D'Alene, Idaho. The town held a procession in honor of the two crew members who died.</p>

<p>This is a photo gallery curated by AP photo editors.</p>

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Photos at Canfield Mountain, Idaho, where firefighters came under deadly attack

<p>- Photos at Canfield Mountain, Idaho, where firefighters came under deadly attack</p> <p>July 1, ...

What to know about Kohberger agreeing to plead guilty to murdering 4 University of Idaho students

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  • What to know about Kohberger agreeing to plead guilty to murdering 4 University of Idaho students</p>

<p>July 1, 2025 at 5:21 AM</p>

<p>1 / 4University of Idaho Students KilledFILE - Bryan Kohberger, the man accused of fatally stabbing four University of Idaho students, is escorted into court for a hearing in Latah County District Court, Sept. 13, 2023, in Moscow, Idaho. (AP Photo/Ted S. Warren, Pool, File)</p>

<p>BOISE, Idaho (AP) — Bryan Kohberger has agreed to plead guilty to murder in the stabbing deaths of four University of Idaho students as part of a deal to avoid the death penalty, an attorney for one victim's family said Monday.</p>

<p>Here's what to know about the case and the recent developments:</p>

<p>Who were the victims and who is the suspect?</p>

<p>Kohberger, 30, is accused in the deaths of Kaylee Goncalves, Ethan Chapin, Xana Kernodle and Madison Mogen at a home near campus in Moscow, Idaho, on Nov. 13, 2022. Autopsies showed the four were all likely asleep when they were attacked, some had defensive wounds and each was stabbed multiple times.</p>

<p>Kohberger, then a criminal justice graduate student at nearby Washington State University, was arrested in Pennsylvania weeks after the killings. Investigators said they matched his DNA to genetic material recovered from a knife sheath found at the crime scene.</p>

<p>What has happened so far in the case?</p>

<p>Kohberger has been charged with four counts of murder in the stabbings. Prosecutors intend to seek the death penalty if he is convicted.</p>

<p>When initially asked to enter a plea in 2023, Kohberger stood silent, prompting the judge to enter a not-guilty plea on his behalf.</p>

<p>The northern Idaho farming community of about 25,000 people was rocked by the killings and hadn't seen a homicide in about five years. The trial was scheduled to move to Boise after the defense expressed concerns that Kohberger couldn't get a fair trial where the killings occurred.</p>

<p>What do we know about the plea deal?</p>

<p>Kohberger's trial was set to start in August and was expected to last more than three months. An attorney for the family of Goncalves confirmed that families of the victims received news of the plea deal in a letter from prosecutors Monday.</p>

<p>"We are beyond furious at the State of Idaho," Goncalves' family wrote in a Facebook post. "They have failed us. Please give us some time. This was very unexpected."</p>

<p>In the letter to families, obtained by ABC News, prosecutors said Kohberger's lawyers approached them seeking a plea deal. The defense team had previously tried but failed to have the death penalty stricken as a possible punishment, including arguing that Kohberger's autism diagnosis made him less culpable.</p>

<p>The prosecutors said they met with available family members last week, including some members of the Goncalves family, before deciding to make Kohberger an offer.</p>

<p>"This resolution is our sincere attempt to seek justice for your family," the letter said. "This agreement ensures that the defendant will be convicted, will spend the rest of his life in prison, and will not be able to put you and the other families through the uncertainty of decades of post-conviction, appeals. Your viewpoints weighed heavily in our decision-making process, and we hope that you may come to appreciate why we believe this resolution is in the best interest of justice."</p>

<p>What did prosecutors plan to show at trial?</p>

<p>Court filings have shown that prosecutors intended to introduce evidence including Kohberger's "click history" at Amazon.com with the purchased of a Ka-Bar knife — a military-style, fixed-blade knife — along with a sheath and sharpener months before the killings. A Ka-Bar knife sheath was found next to one of the victims.</p>

<p>Prosecutors had also said they also intended to introduce what appears to be a self-portrait Kohberger took on his phone just hours after the killings. In it, he is smiling and giving a thumbs-up gesture.</p>

<p>A roommate who was in the home that morning, sleeping and intoxicated, told police she woke up and saw a man she didn't know — someone with "bushy eyebrows" who was wearing a face mask, prosecutors have said.</p>

<p>No motive has emerged for the killings, nor is it clear why the attacker spared two roommates who were in the home at the time. Authorities have said cellphone data and surveillance video shows that Kohberger visited the victims' neighborhood at least a dozen times before the four students were slain.</p>

<p>In a court filing, Kohberger's lawyers said he was on a long drive by himself around the time the four were killed.</p>

<p>What's next?</p>

<p>A change of plea hearing was set for Wednesday, but the family has asked prosecutors to delay it to give them more time to travel to Boise, Gray said.</p>

<p>In Idaho, judges may reject plea agreements, though such moves are rare. If a judge rejects a plea agreement, the defendant is allowed to withdraw the guilty plea.</p>

<p>The court has issued a gag order that has largely kept attorneys, investigators and others from speaking publicly about the investigation or trial.</p>

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What to know about Kohberger agreeing to plead guilty to murdering 4 University of Idaho students

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The 3 Most Intriguing Positions in Mark Cuban's Portfolio

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  • The 3 Most Intriguing Positions in Mark Cuban's Portfolio</p>

<p>Chris MacDonaldJuly 1, 2025 at 4:09 AM</p>

<p>Mark Cuban happens to be not only a great businessman, he's also one who's clearly at least attempting to be a driving force for good in the private U.S. healthcare sector. Cuban has discussed at length his plans for Cost Plus Drugs, a rather remarkable business he launched to try to take market share from pharmacy benefit managers (PBMs), which dominate a good chunk of the U.S. healthcare system. For more on that, I suggest reading about what he's honing in on right now in terms of private long-term investments.</p>

<p>That said, Cuban has been outspoken about some of his other investments, including those he's made in a range of publicly-traded companies. Here are three of Cuban's most prominent picks I agree could provide excellent long-term value for patient investors.</p>

<p>Not all of us are billionaires like Mark Cuban, but these are picks I think make sense to consider as potential long-term holdings for those with an investing time horizon of more than five years.</p>

<p>Key Points in This Article: -</p>

<p>These three stocks are all Magnificent Seven members with strong prospects.</p>

<p>AMZN, META and GOOG are all highly leveraged to the emerging AI revolution.</p>

<p>If you're looking for a megatrend with massive potential, make sure to grab a complimentary copy of our "The Next NVIDIA" report. This report breaks down AI stocks with 10x potential and will give you a huge leg up on profiting from this massive sea change.</p>

<p>Amazon (AMZN)</p>

<p>Interestingly, Mark Cuban has been critical of Amazon (NASDAQ:AMZN) in the past, noting the e-commerce giant remains the billionaire investor's largest publicly-traded holding in his portfolio. He's impressively stated in the past that his exact exposure to this company is around a billion dollars, but given the fact that Cuban doesn't need to disclose his holdings or changes in his holdings via 13-F filings, it's impossible to know for sure what his position size is at the moment.</p>

<p>Cuban's previous bullish commentary around Amazon appears to be tied to Amazon's dominance in its core sectors. From cloud computing to the e-commerce sector, Amazon has dominated nearly every market the company has actively engaged in, leading Cuban and others to view the company as a unicorn playing a foundational role in the future of the global economy. I can't disagree with such a view, and it's also been true for at least the past 15 years that size matters - investing in the companies not only with the capabilities and positioning to succeed (but the deep pockets) - has paid off handsomely.</p>

<p>Tariff concerns may certainly derail Cuban's thesis on the company in the near-term. But over the long-term, this does look like a solid bet, and it's a billion-dollar wager I'd expect will be worth a lot more a decade or two down the line (what I'd think would be Mr. Cuban's investing time frame).</p>

<p>Meta Platforms (META)</p>

<p>Meta Platforms (NASDAQ:META) is yet another Magnificent 7 stock Mark Cuban has talked about owning as a long-term AI beneficiary in a range of high growth markets.</p>

<p>Meta's AI-driven growth and dominant position in the digital advertising market certainly make this stock appealing to many investors at first glance. And looking at the company's core social media business, which is about as insulated from the competition as can be, there's plenty of pricing power long-term Meta can use to support its margins and continue to grow its bottom line at an outsized rate. It's that focus on efficiency, which CEO Mark Zuckerberg has increasingly hammered home, that should continue to provide share outperformance relative to the company's peers.</p>

<p>With strong fundamentals, including revenue growth of 22% annually over the past two years (double the industry average), there's a reason why META stock is currently trading at a premium multiple. It appears Cuban and other big named investors aren't balking at such a multiple. Indeed, in this market, paying up for quality is a strategy that certainly makes sense to me.</p>

<p>Alphabet (GOOG)</p>

<p>Rounding out this list of mega-cap tech stocks Cuban has talked about owning, we get to one of the companies I think has the best valuation among the mega-cap tech names in the market right now. Alphabet (NASDAQ:GOOG) is among the original high-growth mega-cap tech stocks that's sort of fallen out of favor of late, particularly among younger investors. There are good reasons for this, with the rise of AI and other innovative and disruptive technologies shifting demand away from more "rudimentary" search engines such as Google.</p>

<p>That said, Alphabet's core Google search business is one that's continued to provide extremely steady cash flow growth over time, and that cash flow growth has continued even in the age of AI. Thus, in the works of Mark Twain, it does indeed appear that the reports of Google's death have been exaggerated.</p>

<p>Instead, Alphabet has emerged as a top player in AI, seeking to utilize artificial intelligence to a greater degree within the company's core search and digital advertising business. If Alphabet is able to deliver more value to its clientele in providing better ad targeting and a superior ROI overall (and better margins for investors), this is a stock that could be worth buying on this recent dip.</p>

<p>Retirement planning doesn't have to feel overwhelming. The key is finding expert guidance—and SmartAsset's simple quiz makes it easier than ever for you to connect with a vetted financial advisor.</p>

<p>Here's how it works:</p>

<p>Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!</p>

<p>Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin</p>

<p>Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.</p>

<p>Why wait? Start building the retirement you've always dreamed of. Click here to get started today! (sponsor)</p>

<p>The post The 3 Most Intriguing Positions in Mark Cuban's Portfolio appeared first on 24/7 Wall St..</p>

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The 3 Most Intriguing Positions in Mark Cuban’s Portfolio

<p>- The 3 Most Intriguing Positions in Mark Cuban's Portfolio</p> <p>Chris MacDonaldJuly 1, 202...

The Monthly Dividend Strategy Everyone's Talking About in 2025

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  • The Monthly Dividend Strategy Everyone's Talking About in 2025</p>

<p>Chris MacDonaldJuly 1, 2025 at 3:48 AM</p>

<p>There are a number of factors I'd consider intriguing, to say the least, about this current macroeconomic climate. Investors are now operating in an environment with both higher inflation and slower growth than many thought was possible just a couple years ago. In this environment, yields have also remained elevated, offering investors looking to create passive income streams with an opportunity we haven't seen for more than a decade (when interest rates were held at or near zero, at least for the Federal Funds rate).</p>

<p>In such an environment, investors may certainly be thinking about investing in monthly dividend paying stocks or in investing in income-generating rental properties. Those are great sources of monthly income, and should certainly be considered by those looking to live off of one's savings in retirement.</p>

<p>That said, I'm going to discuss another key strategy many investors use to create a dividend-like passive income stream: setting up a bond ladder.</p>

<p>Key Points in This Article: -</p>

<p>A bond ladder is a safe way to use debt securities to scale your fixed income.</p>

<p>Those who are able to lock in strong bond rates may benefit to an outsized degree.</p>

<p>Should ETFs be a part of your investment strategy? Why not meet with a financial advisor near you for a complete portfolio review? Click here to get started today. (Sponsored)</p>

<p>What Is a Bond Ladder?</p>

<p>A ladder in a cave area</p>

<p>One of the most prominent time-tested strategies for creating a passive income stream that pays out in regular increments over a period of time, what a bond ladder does is effectively allows an investor to spread out their fixed payments from their bond holdings over specific intervals. By purchasing quarterly bonds that mature at a specific point each month, investors can create monthly passive income streams. And for those looking to get even more creative, purchasing bonds which mature on different weeks can create even more frequent and predictable cash flows over time.</p>

<p>A typical bond portfolio will consist of specific durations of bonds; for government bonds, the most common durations are 1 month, 3 month, 6 month, 1 year, 2 year, 5 year, 10 year, 20 year and 30 year bonds. However, an investor looking for monthly income over the course of the next five years could create a monthly income bond ladder by purchasing 5 year bonds that expire in July of 2030, August of 2030, and September of 2030 (each rung paid out quarterly).</p>

<p>Setting up a bond ladder is just one piece of the puzzle for investors. Maintaining said bond ladder is a whole other ordeal (as these five year bonds age, investors will need to re-up and add new 5 year bonds or other maturities as well).</p>

<p>Of course, this fixed income investing strategy can really get about as complex, or as simplistic, as investors want. It really depends on the ultimate goal, and how much time and effort someone is willing to put into managing a fixed income portfolio.</p>

<p>Why This Strategy Is One that Makes Sense</p>

<p>I'm personally of the view that interest rates are more likely than not to come back down toward the near-zero range. That's what the Federal Reserve has signaled at least - that any time there's some serious disruption to the functioning of the economy, that's an excuse to cut rates to zero (again).</p>

<p>With the Fed holding some serious dry powder in the form of a much higher effective federal funds rate than we've seen over the past 15 years, it's entirely likely that we could see rates trend back down toward the pandemic era levels which really benefited bond investors. If that's the case, those who are able to lock in what could be considered in hindsight sky-high yields today may benefit to an outsized degree when we look back on today from, say, a decade from now.</p>

<p>No one really knows how bonds will perform relative to equities. And it's also true that stocks have vastly outperformed fixed income assets, particularly as rates have increased amid this recent inflation scare.</p>

<p>But with bonds providing a predictable income stream, while allowing investors to minimize their interest rate risk and diversify their credit risk (while adding liquidity and flexibility to their portfolios), a bond ladder is a truly overlooked and under-utilized strategy in my books for investors to create meaningful wealth long-term while safeguarding their capital.</p>

<p>Retirement planning doesn't have to feel overwhelming. The key is finding expert guidance—and SmartAsset's simple quiz makes it easier than ever for you to connect with a vetted financial advisor.</p>

<p>Here's how it works:</p>

<p>Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!</p>

<p>Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin</p>

<p>Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.</p>

<p>Why wait? Start building the retirement you've always dreamed of. Click here to get started today! (sponsor)</p>

<p>The post The Monthly Dividend Strategy Everyone's Talking About in 2025 appeared first on 24/7 Wall St..</p>

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<p>- The Monthly Dividend Strategy Everyone's Talking About in 2025</p> <p>Chris MacDonaldJuly 1...

Who would win and who would lose in Republicans' 'big, beautiful bill'

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  • Who would win and who would lose in Republicans' 'big, beautiful bill'</p>

<p>Shannon Pettypiece June 30, 2025 at 6:40 PM</p>

<p>Legislation making its way through the Senate stands to have wide-ranging effects across the economy — bolstering tax benefits for businesses and higher-income households while threatening health insurance for millions of Americans and putting thousands of clean energy and health care jobs at risk.</p>

<p>The bill, which is more than 900 pages long and Republicans have dubbed the "big, beautiful bill," passed a key procedural vote over the weekend in the Senate largely along party lines, with all but two Republicans voting to advance it.</p>

<p>Follow live coverage here</p>

<p>The Senate is debating the measure before taking a final vote. If the bill passes the Senate, it will then go back to the House for another vote and ultimately must be signed by President Donald Trump before becoming law. While changes could still be made and its passage isn't certain, here are some of the key winners and losers under the latest version of the bill.</p>

<p>Winners: Corporations</p>

<p>The legislation would make permanent trillions of dollars in corporate tax cuts enacted in 2017 during Trump's first term and expand other tax breaks for businesses. That includes permanently lowering the corporate tax rate to 21% from the 35% level before the 2017 tax cuts. The bill would also extend or increase other tax breaks for business investments, like those on new machinery, equipment and research and development, which business groups have said would encourage business investments in the U.S. The bill would also extend through 2033 tax incentives enacted in 2017 for businesses that invest in disadvantaged areas, called Opportunity Zones.</p>

<p>Losers: Younger generations</p>

<p>The tax cuts would add around $3 trillion over the next decade to the national debt, according to an analysis by the Congressional Budget Office. That means the U.S. would have to borrow more money to cover its expenses, requiring it to pay an estimated $600 billion to $700 billion in additional interest payments, according to an analysis by the Center for a Responsible Federal Budget.</p>

<p>Corporations are set to benefit in the Republican One Big Beautiful Bill. (Kevin Dietsch / Getty Images)</p>

<p>The amount of money Americans pay toward interest on the country's debt is expected to increase sharply in the coming years, totaling $78 trillion over the next 30 years and accounting for 34% of federal revenues, according to the Congressional Budget Office.</p>

<p>Paying for that added interest will fall to future generations, likely in the form of higher taxes and less spending on other programs younger generations could benefit from, like early childhood education, more affordable housing or improved infrastructure. It will also give the U.S. less flexibility to borrow if there is a future crisis, such as a pandemic or war.</p>

<p>As U.S. debt has ballooned — with the current ratio of debt to gross domestic product at similar levels to those seen during World War II — it has also increased concern among investors about the country's ability to make its debt and interest payments on time. That means investors are starting to seek a higher interest payments, or yield, in exchange for buying U.S. debt, which could also drive up interest rates for other private loans — with higher mortgage rates or interest on a small business loan.</p>

<p>Winners: Higher-income households</p>

<p>The bill would greatly expand the amount of state and local taxes households are able to deduct from their federal taxes from the current cap of $10,000 to up to $40,000.</p>

<p>The biggest beneficiaries from the change would be households making $200,000 to $500,000 a year and those that own property, because they are likelier to pay higher property and income taxes, according to an analysis by the Committee for a Responsible Federal Budget. It would also disproportionately benefit households in higher-tax states, like New York, New Jersey and California.</p>

<p>Wealthy households and business owners would also benefit from a permanent reduction in the estate tax. Under the legislation, heirs of estates valued at less than $15 million would not have to pay a tax on their inheritance. That cap is set to drop to $7 million in 2026.</p>

<p>Losers: Lower-income households</p>

<p>Provisions in the latest version of the bill would cause nearly 12 million low-income people to lose their health insurance over the next decade by cutting around $1 trillion from Medicaid, the health insurance program for poor and disabled people, according to the CBO. The Senate bill includes steeper cuts to Medicaid than an earlier version passed by the House.</p>

<p>Provisions in the latest version of the bill would cause nearly 12 million low-income people to lose their health insurance. (Tasos Katopodis / Getty Images for People's Action file)</p>

<p>The cuts would take a particular toll on people in rural areas who are more likely to receive their health insurance through Medicaid than those in urban or suburban areas. Researchers at Georgetown University found that 40% of children in small and rural towns receive their health insurance from Medicaid. The bill could also reduce the number of people who receive their insurance through the Affordable Care Act.</p>

<p>The version of the Senate bill released over the weekend also includes cuts to the Supplemental Nutrition Assistance Program, also known as food stamps, by requiring adults ages 18 to 64 without disabilities to work at least 80 hours a month unless they are caring for children under 10. The added requirements could lead to $300 billion in cuts to food stamp spending, according to the Congressional Budget Office.</p>

<p>Winners: Workers with income from tips and overtime</p>

<p>The legislation would carry through on a campaign promise by Trump to exempt income from tips and overtime from federal income taxes. Tipped workers make up about 2.5% of the workforce, and about 12% of hourly workers clock some overtime each year, according to an analysis by the Yale Budget Lab.</p>

<p>Both tax exemptions are structured as deductions that workers would claim when they filed their taxes the following year. The tax exemption would apply only to federal income tax, so workers would still have to pay Social Security and Medicare taxes on their income, along with any state or local taxes.</p>

<p>As many as 40% of tipped workers already don't make enough money to have to pay federal income tax on any of their earnings, so the benefit would be relatively limited, the Yale Budget Lab found.</p>

<p>Loser: Health care workers</p>

<p>Less funding for Medicaid and fewer people with health insurance would mean a drop-off in doctor's office visits, prescription refills and medical procedures — and, as a result, fewer workers needed to support those types of services. That could lead to the loss of nearly 500,000 health care jobs over the next decade, according to an analysis by George Washington University and the Commonwealth Fund.</p>

<p>The Senate bill would also prohibit Medicaid funding for entities that provide abortions, including Planned Parenthood, which could cause cuts backs or the closure of those health care centers.</p>

<p>The Senate legislation seeks to mitigate some of that pain for rural health care providers, who care for a disproportionately high number of Medicaid patients, with a $25 billion fund for rural hospitals.</p>

<p>Winners: Fossil fuel companies</p>

<p>The bill would strip away numerous provisions put in place during the Biden administration to shift energy consumption away from fossil fuels. (Luke Sharrett / Bloomberg via Getty Images)</p>

<p>Both the House and the Senate bill include wins for the fossil fuel industry, stripping away numerous provisions put in place during President Joe Biden's administration to shift energy consumption away from fossil fuels. Both bills would delay a fee on excess methane pollution by oil and gas companies, roll back Biden-era rules to curb vehicle emissions and include provisions intended to speed the development of new fossil fuel projects.</p>

<p>The Senate bill also includes a new tax workaround for oil drillers that would enable many of them to avoid having to pay a corporate alternative minimum tax of 15%.</p>

<p>Losers: Clean energy companies and workers</p>

<p>Clean energy companies say the bill could cripple their businesses by stripping away tax subsidies and funding made available during the Biden administration. The Senate bill would go further than the earlier version passed in the House by imposing new tax penalties on wind and solar farm projects started after 2027, unless they met certain requirements. That could jeopardize billions of dollars in investments in clean energy projects — along with the thousands of jobs that would come along with those projects, including in Republican-led states like Georgia and South Carolina.</p>

<p>Other provisions would reduce benefits for consumers buying electric vehicles, solar panels and appliances to make their homes more energy efficient.</p>

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Trump drops federal lawsuit against Iowa pollster Ann Selzer, refiles in state court

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  • Trump drops federal lawsuit against Iowa pollster Ann Selzer, refiles in state court</p>

<p>Zoë Richards July 1, 2025 at 12:00 AM</p>

<p>President Donald Trump in the Netherlands on June 24. (Jakub Porzycki / NurPhoto / Getty Images)</p>

<p>President Donald Trump on Monday dropped his federal lawsuit against Iowa pollster Ann Selzer and The Des Moines Register over a poll that found Democratic nominee Kamala Harris leading in Iowa shortly before Election Day in November, before refiling it hours later in state court.</p>

<p>Trump had initially filed the lawsuit in Iowa District Court in Polk County in December. The case was later moved to federal court.</p>

<p>Earlier this month, a federal judge denied Trump's request to move the case back to state court.</p>

<p>Follow live politics coverage here</p>

<p>Bob Corn-Revere, chief counsel for the Foundation for Individual Rights and Expression, a nonprofit civil liberties group that is representing Selzer, said in a statement that Trump's effort to dismiss the federal case after having lost his earlier attempt to remand it to state court "is a transparent attempt to avoid federal court review of the president's transparently frivolous claims."</p>

<p>"Whatever court ultimately reviews this matter, FIRE will defend J. Ann Selzer's First Amendment rights, and we remain confident the courts will see through this sham lawsuit," Corn-Revere said.</p>

<p>The White House did not immediately respond to a request for comment.</p>

<p>The refiling of the lawsuit at the state level shields it from being subject to an "Anti-SLAPP" measure that Republican Gov. Kim Reynolds signed in May and takes effect Tuesday.</p>

<p>So-called SLAPP lawsuits, also known as strategic lawsuits against public participation, are cases brought against news organizations in an effort to prevent public speech and reporting on an issue by engaging in expensive and extensive legal battles.</p>

<p>Lark-Marie Anton, a spokesperson for the Register, said in a statement that Trump's move to drop the case in U.S. district court was "clearly intended to avoid the inevitable outcome of the Des Moines Register's motion to dismiss President Trump's amended complaint currently pending in federal court."</p>

<p>"After losing his first attempt to send his case back to Iowa state court, and apparently recognizing that his appeal will be unsuccessful, President Trump is attempting to unilaterally dismiss his lawsuit from federal court and re-file it in Iowa state court," Anton said before Trump refiled his lawsuit. "The Des Moines Register will continue to resist President Trump's litigation gamesmanship and believes that regardless of the forum it will be successful in defending its rights under the First Amendment."</p>

<p>The newspaper previously said Trump's federal lawsuit was "without merit" and acknowledged that the Selzer/Des Moines Register pre-election poll "did not reflect the ultimate margin of President Trump's Election Day victory in Iowa."</p>

<p>Trump in December sued Selzer; her polling firm, Selzer & Co.; The Des Moines Register; and the newspaper's parent company, Gannett, alleging consumer fraud over the poll, which found Harris up by 3 percentage points in the state. Trump defeated her in Iowa 55.7% to 42.5% last year.</p>

<p>Trump has carried the state in the past three presidential contests, beating Hillary Clinton 51.7% to 42.2% in 2016 and besting Joe Biden 53.1% to 44.9% in 2020.</p>

<p>Trump's lawsuit against Selzer and the Register was one of many he filed over 2024 campaign coverage.</p>

<p>He filed a similar suit against Paramount, the parent company of CBS News, in which he accused "60 Minutes" of selectively editing an interview segment with Harris ahead of the election.</p>

<p>In a filing Monday, attorneys for Trump and Paramount asked the court for a pause in the proceedings for the $20 billion lawsuit, saying the parties "are engaged in good faith, advanced, settlement negotiations."</p>

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Trump drops federal lawsuit against Iowa pollster Ann Selzer, refiles in state court

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Julia Whelan is the voice of the summer: Meet the narrator of your favorite bestsellers

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  • USA TODAY and Yahoo may earn commission from links in this article. Pricing and availability subject to change.Julia Whelan is the voice of the summer: Meet the narrator of your favorite bestsellers</p>

<p>Clare Mulroy, USA TODAY June 29, 2025 at 1:01 PM</p>

<p>She's your favorite author's favorite audiobook narrator.</p>

<p>Julia Whelan is the voice of the summer, the smooth-talking vocals behind some of 2025's biggest books – "Atmosphere" by Taylor Jenkins Reid, "Great Big Beautiful Life" by Emily Henry and "Bury Our Bones in the Midnight Soil" by V.E. Schwab, to name a few.</p>

<p>As an audiobook listener will tell you, the narrator can make or break a good listen. So what about Whelan has authors clamoring to get her on their stories?</p>

<p>It's more than just her voice and acting skills – Whelan has become the face of an industry known only for voice, a public figure in a social media era where readers have unprecedented access to the creatives that bring their favorite books to life. Whelan's voice on an audiobook can lead to a boom in sales.</p>

<p>There's a responsibility that comes with that, and Whelan is determined not to let it go to waste. Whelan is fighting for more pay and better working conditions for audiobook narrators, who do not receive royalties like other actors.</p>

<p>Julia WhelanThe voice behind Taylor Jenkins Reid, Emily Henry books</p>

<p>Credited to her English major background, Whelan is a "generalist" reader – she's done romance, book club fiction, erotica, fantasy, thrillers and historical fiction. She's the voice of Tara Westover's memoir "Educated," Kristin Hannah's "The Women" (for which she won an Audie Award), narrated a few chapters of Taylor Jenkins Reid's "The Seven Husbands of Evelyn Hugo" and all of Emily Henry's books. She's at a point in her career she calls "an embarrassment of riches."</p>

<p>The key to a Whelan narration is close collaboration. Sometimes that's sending voice memos back and forth to get pronunciation right, sometimes that's envisioning actors an author dreams would play their characters. For Laurie Forest's "The Black Witch," a series Whelan has been narrating since 2017, she worked with the author to create fictional accents for the fantasy world.</p>

<p>Sarah MacLean, a historical romance author whose first contemporary romance, "These Summer Storms," comes out July 8, said it was a "dream" to get Whelan on her novel.</p>

<p>"She's just such an authentic person who cares so much about the adaptation of the book being perfect," MacLean says. "She says the audiobook is the first and best adaptation that you're ever going to get as a writer and I think that is so true and it's so powerful. I just trust her implicitly."</p>

<p>View this post on Instagram</p>

<p>A post shared by Sarah MacLean (@sarahmaclean)</p>

<p>From child actor to renowned audiobook narrator</p>

<p>Whelan got her start as an actor when she was 9, with a notable role on ABC drama "Once and Again" alongside Sela Ward and Evan Rachel Wood. She left acting in high school to study English in college, assuming she would resume her TV days after she graduated. But with the 2007-2008 writer's strike and recession, Whelan had to look elsewhere.</p>

<p>By the time she got in the booth, it was the 2010s boom of YA romance and dystopia, and Whelan's narration of these young protagonists filled an industry age gap. She did the "typical Hollywood hustle of catch where catch can," thinking one book a month could give her a steady enough income for her car payment.</p>

<p>Then "Gone Girl" took off.</p>

<p>Whelan narrated the calculated, cunning Amy Dunne. She knew from the first 10 pages that it would be huge. Amid the rise in digital reading, platforms like Audible ballooned. Whelan still has people tell her that "Gone Girl" by Gillian Flynn was the first audiobook they listened to.</p>

<p>Julia Whelan</p>

<p>By then, she was narrating full-time – around 70 books a year – plus writing her first book, "My Oxford Year" (which releases as a Netflix adaptation starring Sofia Carson in August). The quantity was unsustainable and she says she "almost had a breakdown." But she was also making a name for herself among both listeners and publishers. When she wrote her second book, "Thank You For Listening," she dialed back, but her success didn't. She became known in book communities as an audiobook narrator who intentionally chooses quality books.</p>

<p>As audiobook narrators become public figures, Whelan leads fight for change</p>

<p>Audiobooks were the perfect happy medium for Whelan, who never liked the public recognition that came with acting. Narrating let her continue acting while maintaining the privacy she craved.</p>

<p>Then, about five or six years ago, that changed. Readers started following audiobook narrators like they did their favorite authors or actors. There was a push to be a public figure because her voice helped sell books.</p>

<p>When Whelan went on tour for "My Oxford Year" in 2018, the stops were filled only with a handful of friends and family members. Then the pandemic hit, and Whelan thought it would be the end of audiobooks because people weren't commuting. She was wrong.</p>

<p>"I started getting messages from people saying things like 'You're the only voice I've heard for weeks now,'" Whelan says. "It was a very intimate experience for a lot of people and a moment of human connection where we were all so isolated."</p>

<p>On her 2022 tour, audiobook fans sold out venues for "Thank You For Listening."</p>

<p>"That's when I went, 'OK, we're being exploited,'" Whelan says.</p>

<p>Julia Whelan</p>

<p>Traditional audiobook narrators get paid per finished hour of recording, often a few $100 per hour. Most span from eight to 12 hours. They don't get royalties after, even though others in the publishing industry, like authors and editors, do.</p>

<p>Whelan still gets residuals for Lifetime movies she did when she was 12. But she says she's only ever received $2,500 for "Gone Girl," popular as it may be a decade later. Meanwhile, as new players like Spotify, Apple and Amazon enter the space, the audiobook industry reached $2.22 billion in 2024, up 13% over the previous year.</p>

<p>The fight is especially pressing now that artificial intelligence is encroaching on the industry. In May, Melania Trump announced her memoir would be narrated entirely by AI.</p>

<p>"Synthetic voice is just sitting there waiting to take jobs," Whelan says. "So we're going to very quickly find ourselves in a situation where there is not enough work and all the work you've done previously is still out there, still making money for people."</p>

<p>As her platform grew, Whelan realized it was futile to ask big companies "to do the right thing." So she started Audiobrary, an audio platform that applies publishing models with royalties to both narrators and authors. And she'll keep talking about it until she sees change on an industry-wide level.</p>

<p>"There comes a point where continuing to just complain about a problem, you are perpetuating a problem if you're not actually fixing it," Whelan says. "And this is my attempt to give it a shot and fix it. And jury's out, but I will say that the response I've gotten from listeners and from the industry is just one of massive support."</p>

<p>Clare Mulroy is USA TODAY's Books Reporter, where she covers buzzy releases, chats with authors and dives into the culture of reading. Find her on Instagram, subscribe to our weekly Books newsletter or tell her what you're reading at [email protected].</p>

<p>(This story was to include video.)</p>

<p>This article originally appeared on USA TODAY: Julia Whelan is the voice behind the biggest audiobooks this summer</p>

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Julia Whelan is the voice of the summer: Meet the narrator of your favorite bestsellers

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