Welcome to Good Morning and Firstft Asia. In today’s newspaper:

• When will the Congress pass Trump’s tax bill?

• American shopkeepers ate Temu and Shin

• China’s “choke points”

• 150 years passion for japonism

Donald Trump’s “Big, Beautiful Bill” is close to the US President’s passing before the late July deadline. What should you know here?

Current Status: Senate Republican further accused with its efforts to pass the bill The final vote is expected to be late Monday or on Tuesday in the US on TuesdayDemocrats have accused the Republican that it is trying to root the bill through “in the Dead of Night” and has demanded to read the 940-page bill on the Senate floor and forced them to amend the text.

What is at stake: This bill will fund the expansion of the comprehensive tax deduction initiated in the first term of Trump by spending on healthcare and social welfare programs. It will also increase expenditure on military and border security. But Democrats and some Republicans say that the cut in planned expenditure will cut access to medicade services for the poor.

Will the bill be passed? Republicans can only risk losing three votes to secure a simple majority, in which Democrats are integrated in their opposition. Two Republican Senators have already said that they will vote against the law, and many others have expressed reservation about the size and scope of the bill.

Miles McCormic and Alex Rogers Go deep into obstacles and have to cross it and a potential timeline to be passedIn addition, here are more coverage:

• Green Power winner and losers: Trump’s plan to spend a division of Hovs and Notes in the future of American clean energy. Martha Muir broke the details,

• Opinion from Lex: Private equity “Carid Interest” Loofol is one that has gone away. But this is not the first time, John Foli writes,

And here what else are we doing today:

• Economic Data: Japan released its June Tanking Survey, which would provide significant insights into the country’s professional sentiment and economic conditions.

• Meerl Deadline: New York City will announce the last winner of Democratic Meror Primary of New York, New York, New York, Democratic Socialist Joran Mamdani is expected to be,

• Result: Tata Motors reported June sales.

Five more top stories

1. US dollar faced its first half of the year since 1973To motivate global investors to rethink their risk to the world’s major currency. Trump’s trade policies and rising debt levels declined by more than 10 percent in the first half of 2025. As a strategist said, “Dollar has become a whipping boy of irregular policies of Trump 2.0”. Will it continue to decrease?

2. Temu and Shin have once seen a rapid growth of American user, when Trump shuts off the flaws For online retailers. Both companies survived import duties by sending sugar -made goods directly to consumers’ homes as individual packages. Despite cheap prices and a social media advertisement blitz, Retail sellers are now shifting their attention to Europe,

3. China’s export controls are spreading to products beyond rare Earth and magnetsThreatening the disruption of the broader supply chain and the US claims that a new business deal resolved delay in shipment. Edward White has more details than Shanghai,

4. South Korea is banning the so -called “Kimchi Bonds” for 14 years While retail investors run to invest in foreign shares and dollars-supported stabechoin. The policy change is the latest step of the government after ending the country’s foreign exchange market and promoting the flow of foreign currency which fell to their lowest level in five years in May. It is reported here that “Kimchi Bonds” is expected to respond to the chief issuers.

5. Trump’s administration ruled that Harvard University is in “violent violations” of Civil Rights Act And all federal funds should “immediately” improve or lose. it is Latest growth between elite university and US PresidentEven though Trump’s comments earlier this month suggested that an agreement could be closed.

The Big Reid

Despite the second largest economy in the world and one of the two true military superpowers, the nation has the nation. Not able to cross dozens of industrial “choke points”From a Western point of view, the weaknesses are withdrawing the discovery of Beijing for freedom and leaves susceptible to American pressure in the era of trade wars and export controls.

We are also studying. , ,

Day chart

Hong Kong’s bull market is surpassing China, in the indication that a decrease with the US has weighed the investor spirit in the mainland. The mainland stock market, which has a greater number of companies in traditional areas such as heavy industry, property and energy, has spread, while the Hang Seng index increased by 20 percent in the first six months of the year.

Take a break from news

The London Department Store was established 150 years ago on the passion of Japonism. Now, it is on full performance. Liberty is known as a place for the “artistic shopkeeper”, as the Oscar Wilde placed it once, but especially its clothes stand out. Read more from Htsi on the new archial exhibition of the storeWhich will create an appearance in Osaka’s World Expo 2025 this summer.