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Trump extends tariff deadline and starts revealing steep new levies. The White House confirmed yesterday that President Trump planned to delay imposing new tariffs on trade partners that haven’t reached deals with the US until Aug. 1, ahead of the original date (tomorrow) when the 90-day tariff pause would have ended. However, the president also began sending letters to other countries threatening high duties on their goods unless a deal is secured. These threats included 25% on imports from Japan, South Korea, Malaysia, and Kazakhstan, 30% on South African goods, and 40% on products from Laos and Myanmar.
Search for survivors continues as death toll from Texas floods rises. Camp Mystic, a Christian summer camp for girls, said 27 campers and counselors had died due to the flash flooding over the weekend, with 10 more campers and a counselor reportedly still missing. In all, authorities said yesterday that more than 100 people were known to have died in the flooding, and that the number was likely to go up as searching continued. They declined to answer questions about weather warnings and didn’t clarify why more areas were not evacuated as searches continued with more rain expected. Meanwhile, facing criticism from Democrats, President Trump denied that staffing cuts at the National Weather Service had hindered weather forecasting before the sudden flooding.
AI company to buy crypto miner for $9b to meet power needs. That very 2025 sentence comes as AI companies race to scoop up energy and data centers to power their tech. CoreWeave is doing it by acquiring Core Scientific, a Bitcoin miner that was already providing data center infrastructure to the company and has access to lots of energy. It’ll nab those centers for itself in an all-stock deal valued at $9 billion that’s expected to close in Q4. But investors weren’t energized by the deal—both companies’ stocks fell after it was announced.—AR
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