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Economy
Traders work on the floor at the New York Stock Exchange (NYSE), on the day of Circle Internet Group's IPO, in New York City, U.S., June 5, 2025.
Cryptocurrencies may have been born in part to resist government control, but they have soared to record levels this week because Washington is finally stepping in to regulate the industry.
In what is being dubbed as “crypto week,” Congress is expected to pass a series of bills setting rules for $3.76 trillion cryptocurrency market. The bills will bring long-awaited regulatory clarity to the crypto market, which investors predict will boost their use by companies, funds, and consumers. The main bill, the GENIUS act – which regulates a subset of crypto called “stablecoins” – has already passed the Senate and is expected to pass the House on Wednesday.
US President Donald Trump is threatening to impose 30% tariffs against the United States’ top two trading partners, the European Union and Mexico, demanding that Europe open its markets more to US products and that Mexico combats local drug cartels. Without new trade deals, the levies would come into effect on Aug. 1, and are higher than the previous duties that Trump had threatened. The announcement has put both Mexico and the European trading bloc on their heels: they have each now scrapped earlier plans to retaliate, favoring negotiations to smooth things over in the next two weeks. However, as Trump continues to drive an extremely hard bargain with even the US’s closest trading partners, he increases the risk that they will look elsewhere for alliances – for some, this process has already begun.
Listen: Small businesses are more than just corner shops and local services. They’re a driving force of economic growth, making up 90% of all businesses globally. As the global middle class rapidly expands, new opportunities are emerging for entrepreneurs to launch and grow small businesses.
The US-Canada relationship has hit new lows since US President Donald Trump took office in January. In the early weeks of his presidency, he not only threatened to annex Canada, but Trump also imposed hefty tariffs on key Canadian exports, including auto parts and metals, triggering a trade war across one of the most commercially integrated borders in the world. As a result, Canada’s exports to the US have plummeted by nearly 20% since Trump took office.
Here’s a look at how Canada’s southbound exports have evolved over the past decade.
A rising number of US college graduates are having trouble securing jobs. The Class of 2025 is up against the toughest labor market in four years, with the unemployment rate for recent graduates sitting nearly two percentage points above than the national average of 4%. Trade tensions are also raising fears of a global recession.
On top of these short-term economic factors is a major long-term one: experts say that many entry-level positions – particularly in the tech sector – are being displaced by artificial intelligence. Here’s a look at the majors least likely to lead to a job after college.
Maybe majoring in history was not such a bad idea after all.
U.S. President Donald Trump arrives to attend the G7 Leaders' Summit at the Rocky Mountain resort town of Kananaskis, Alberta, Canada, June 15, 2025.
The G7 is no longer setting the table; it’s struggling to hold the cutlery. Once a pillar of the post-war world order, the group today is split between the US and the rest, casting about for common ground. Before this week’s summit even kicked off in Kananaskis, Canada, host Prime Minister Mark Carney warned there would be no final joint communique. So what’s up for discussion - and what could be achieved?
The official agenda: Trade, defense, and AI
Trade trumps climate change. With US President Donald Trump back on the scene, tariffs are huge, while climate action takes a backseat. Leaders will try to defend existing net-zero goals, update plans to tackle wildfires, and boost clean tech cooperation. But the meetings’ first focus is on trade, and striking deals. Countries will seek to defend themselves against Trump’s protectionist policies by both expanding trade with each other and getting Trump to lift tariffs on their countries.
The G7 countries – the US, UK, Canada, Germany, France, Italy and Japan – will convene this weekend in Kananaskis, a rural town in the mountains of Alberta, Canada. High on the meeting’s agenda are tariffs, artificial intelligence, and international security, with special focus on Russian sanctions and Israel’s recent attacks on Iran.
While the G7 was originally formed as an informal grouping of the world’s wealthiest democracies, the BRICS – composed of Brazil, Russia, India, China, South Africa – have sought to challenge their dominance of the global agenda.
Here’s a look at how the share of the global economy held by G7 and BRICS nations has evolved over time.