CANADA DATA: Canada May GDP Drops for Third Time in Four Months Through May

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• President Donald Trump will sign Executive Orders at 14:00 ET 19:00 BST. If the press is permitted access, the event will end Trump's longest break from TV cameras since returning to office.
• Vice President JD Vance will address a Bitcoin Conference in Vegas - Another step toward realising Trump’s campaign pledge to make the US a crypto "superpower”.
• Defense Secretary Pete Hegseth’s job is looking shaky amid reports of instability in the Pentagon.
• The S&P bounced back on trade talk optimism and rising consumer sentiment. JP Morgan downgraded its forecast for a US recession.
• A prominent AI CEO warned that unemployment could spike to 10-20%.
• NEC Director Kevin Hassett indicated countries might expect a 10% baseline tariff if they refrain from retaliatory actions.
• Japan has proposed a semiconductor deal to shrink its trade surplus with the US.  
• King Charles III appeared to rebuke Trump’s rhetoric in a speech to open the Canadian Parliament.
• Trump again endorsed ending the conservatorship of Fanny Mae and Fanny Mac.
• Elon Musk panned the Republican reconciliation megabill as concerns grow about the deficit implications of the package.
• Trump could announce a framework for a nuclear deal with Iran this week.
• GOP defence hawks are applying pressure on Trump to approve new Russia sanctions.
• The Trump administration will not renew Chevron’s licence to operate in Venezuela.
• Poll of the Day: Consumers expect decreases in federal benefits, reduced Medicare, and lower taxes.

Full Article: US DAILY BRIEF

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