Welcome back to Good Morning, Happy Friday and Firstft Asia. In today’s newspaper:

• Trump’s historic bill passes through the House

• China criticizes US-Vietnam trade deal

• Pakistan’s strategy to woo US President

Donald Trump has won a political victory, when the Representative Assembly has given a final approval to its prominent tax and spending law.

What is happening? According to the White House Press Secretary Karolin Levit, with the passage of the bill, Trump plans to sign the law at 5 pm (local time) today. Democratic minority leader Hakim Jeffrees asked the “ugly” law after yesterday for eight hours and 44 minutes to “ugly” law to a symbolic Act for a record eight hours and 44 minutes in a symbolic Act.

What is in the bill? This law expands the huge tax deduction from Trump’s first administration, which has been paid for standing cuts for low income and public health insurance scheme for disabled Americans, and other social welfare programs. This bill will also withdraw credit for clean energy by biden-era credits, while increasing the investment in military and will increase the money for the crack of Trump on immigration. It is estimated to add more than $ 3TN to US debt for a long time, increases concerns between economists.

Read more about Trump’s “Big, Beautiful Bill”Which has already determined the lines of political battle before next year’s mid -term elections.

• More American News: American economy Removed expectations To add 147,000 jobs in June, leading investors to bring back their stakes on interest rate cuts.

• Interview: Star lawyer Abbe Lowell, who defended Jared Kushner and Hunter Biden, has warned that Trump is carrying on American democracy breaking point,

Are we keeping an eye on today and weekends:

• Economic Data: The Philippines published June inflation figures and Singapore report May retail sales. On Sunday, Vietnam released a batch of data including June inflation and the second quarter GDP.

• India-Argentina Relations: Indian Prime Minister Narendra Modi met Argentine President Xavier Milli in Buenos Aires.

• BRICS Annual Summit: A two -day meeting of a group of developing countries begins with leaders in Rio de Janeiro, Brazil, in the presence of India’s Modi and Chinese Premier Lee Kiang.

• birthday: The Dalai Lama increased to 90 on Sunday. The Tibetan Buddhist leader recently emphasized “the only right” Succession process contested by China,

How many good news did you make this week? Take our quiz,

Five more top stories

1. China has hit the US-Vietnam trade deal, Amid concerns in Beijing that Trump is using his “liberation day” tariff talks with the third countries To curb your export machineThe US President focuses on punishing the “trans-showing” of goods-It is believed to be considered to be the purpose of exporting Chinese in the US-the IRE of seedlings.

• US-China trade: Three biggest developers of chip design software have said that America is Recent restrictions removed On sale in China.

• More business news: South korea Has expressed pessimism The next week to agree on a deal with the US before Washington’s self-looked time limit.

2. China’s central bank has asked European financial institutions to advise to deal with the effects of low interest rates. The move shows that People’s Bank of China is A polynomial deflation is concerned about the atmosphereThe bank that will endanger profit and financial stability – similar to what many European countries of the last decade experienced.

3. A major Toyota supplier’s $ 33BN privatization has been called as “study in ambiguity” By an investment industry group. Hong Kong -based Asian Corporate Governance Association An attacking attack yesterday issued In Japan’s biggest management purchase, saying that it will “serve as a referendum on the reliability of Japan’s corporate governance revolution”.

4. Trump and Volodimir Zelansky will discuss a sudden stop in some major American weapons. One in Call Friday or the coming daysThe Ukrainian President said yesterday. Ukraine on Wednesday called a senior American diplomat, when the guard was caught by the Pentagon’s decision to prevent several advanced arms systems.

5. Fast-fashion retailer shin has been fined € 40mn by French regulators, A record punishment to mislead consumers on price reduction and environmental commitments. What is the 11 -month investigation in the retailer established by China here,

Intensive news

The cash-stapped Pakistan is expecting Donald Trump to achieve a good side and closure heavy trade tariffs. Its strategy? Pitching itself as bitcoin mining hub, offering a source of rare earth and its support for the Nobel Peace Prize for the US President. Hamza is more on Jilani Islamabad’s attempt to woo the White House,

We are also studying. , ,

• Great unstable of Japan: The end of the zero-onion era is ending competition in the banking sector and Safer and investor behavior changesLeo Lewis writes.

• artificial intelligence: Tim Harford’s latest column asks – as AI gets more capable, Is there a job safe,

• UK Labor: It looks like we are already Mourning of a lost governmentRobert Shrimsley writes, and these final tears are unlikely to be.

Day chart

Tariff Revenue us Growed almost four times A year ago in May in May up to $ 24.2BN record, the first full month in which 10 percent of Trump’s global tariff was effective.

Take a break from news

Don’t remember Htsi’s guide for BaliWhere “everything seems like a ritual”, as Ronald Akili said, the founder of the head of the Club Desa Aloo.