Senate Battle Looms Over Big Beautiful Bill
WSJ Minute Briefing
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Here is your morning brief for Monday, June 30th. I'm Luke Vargas for The Wall Street Journal. The Senate is readying for battle today over President Trump's big, beautiful bill, which Republicans narrowly advanced over the weekend. A voterama is scheduled to begin in the chamber this morning, in which lawmakers can propose unlimited amendments leading to hours of potential voting.
Even if the Senate passes the bill, getting the measure to Trump by Republicans' Friday deadline will still require another potentially difficult vote in the House. Stock futures are gaining after Canada announced late last night that it's dropping a digital services tax on American tech companies and that trade talks with the U.S. will resume on July 21st. That's after President Trump said on Friday that the U.S. was walking away from discussions.
Canada's finance department was set to collect billions of dollars from U.S. tech companies beginning today with a 3% tax on revenue for selling digital services to Canadians and sales of Canadian user data. The White House didn't immediately respond for comment.
And despite reaching a trade agreement with the U.S. earlier this month, China's manufacturing activity is continuing to decline, with the Manufacturing Purchasing Managers Index for June remaining in contraction territory despite improving from May.
The world's second largest economy began to lose momentum three months ago when President Trump introduced sweeping tariffs. And we've got a lot more coverage of the day's news on the WSJ's What's News podcast. You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts.