Live updates: Trump administration says Iran war is 'terminated'

Key Points:

• The 2025 U.S.-EU trade deal, originally setting a 15% tariff ceiling on EU goods, has been undermined by a U.S. Supreme Court ruling reducing the tariff limit to 10%, with the Trump administration pursuing new tariffs under different laws, risking violation of the agreement.
• EU automakers expected to save up to 600 million euros monthly under the deal, which covers $2 trillion in annual EU-U.S. trade, but ongoing U.S. tariff investigations and Trump’s complaints about EU compliance threaten the pact.
• Treasury Secretary Scott Bessent warns against risky financial behaviors like lottery playing and promotes budgeting and investing as keys to financial stability, emphasizing these lessons during Financial Literacy Month.
• President Trump praised King Charles III during the monarch’s U.S. state visit, lifting some tariffs on Scotch whisky, though experts doubt the visit will significantly improve strained trans-Atlantic relations.
• The Trump administration is quietly pursuing its mass deportation agenda under Homeland Security Secretary Markwayne Mullin, shifting away from public enforcement tactics while maintaining high deportation goals.
• Congress has not acted to enforce the War Powers Resolution deadline for authorization of military force in Iran, with the Trump administration arguing the war ended with a ceasefire in April, thus avoiding the need for congressional approval.
• President Trump approved the Bridger Pipeline Expansion, a major Canadian oil pipeline project similar to the canceled Keystone XL, despite environmentalist opposition and pending regulatory approvals.