US Domestic News Briefs: Economy, Crime, and Global Relations
The U.S. sees increased corporate defaults, a push for crime law reforms, and potential marijuana reclassification. President Trump extends tariff truce with China and nominates an economist for Bureau of Labor Statistics. Explosions at a steel plant leave casualties, while soybean prices rise amid trade tensions.
In recent economic trends, the rate of defaults on privately issued corporate debt in the U.S. rose to 5.5% in Q2, up from 4.5% in Q1, according to Fitch Ratings.
On the legislative front, President Donald Trump aims to end no-cash bail systems in U.S. cities, citing crime concerns, while also considering reclassifying marijuana.
In international affairs, Trump's administration temporarily extends the tariff truce with China, even as soybean prices surge due to anticipated increase in Chinese demand.
(With inputs from agencies.)
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