The Panama Canal Authority will cut daily ship transits to 32 by Sept. 15 as El Niño threatens lower water levels. Officials said the limits are needed to conserve water and maintain reliable operations on the key global trade route.
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US Treasury Secretary Scott Bessent said Washington is preparing the “toughest sanctions in history” against Iran and warned other countries not to continue trading with Tehran. The measures follow months of war, broken ceasefires and disruptions in the Strait of Hormuz.
A global bond sell-off has pushed U.S. long-term borrowing costs to their highest levels since 2007, raising concerns about mortgages, loans and government debt. The Treasury Department moved to stabilize the market, but yields remain elevated.
Walmart says it has received nearly all of $2.9 billion in tariff refunds and is using the money to lower prices as shoppers face inflation and higher fuel costs. The company’s profit rose, but slower U.S. comparable sales sent shares sharply lower.
President Donald Trump threatened severe economic penalties against any country that provides a “lifeline” to Iran, but did not specify the punishments. The move follows the expiration of a 60-day ceasefire and the UAE’s decision to cut financial and economic ties with Tehran.
The U.S. national debt has surpassed $40 trillion for the first time, after roughly doubling since January 2017. The milestone comes amid rising deficits, tariff refunds, growing interest costs and a congressional standoff over government funding.
Treasury Department data show the U.S. national debt has topped $40 trillion, more than double its 2017 level. Rising interest costs, spending growth and lower revenue are driving warnings from fiscal policy experts, though analysts differ on the economic risk.
The U.S. and Canada say they are close to finalizing a trade deal after Trump paused threatened 50% tariffs on Canadian goods. Officials praised progress, but key details on autos, dairy and other sectors remain unclear.