Historic U.S. budget alarm replaces tariff anxiety

News Snapshot:

Relief following the tariff war de-escalation looks set to be quickly replaced by government budget tensions. Alarms are ringing loudly as the U.S. hits an historic debt metric even as the administration is seeking to extend tax cuts. Republicans in the U.S. House of Representatives, navigating a narrow majority, this week kicked off a public debate on President Donald Trump’s tax cut and budget legislation. The plan aims to extend tax cuts passed during Trump’s first term. Congress’ bipartisan Joint Tax Committee estimates these could cost $3.72 trillion over the next decade on top of the nation’s already record $36.2...