The "One Big Beautiful Bill" (OBBB) expands funding for Immigration and Customs Enforcement ( ICE) while slashing key social safety net programs, including Medicaid and food assistance. The legislation is widely seen by the GOP as President Donald Trump 's flagship domestic policy achievement, cementing his policy agenda.

European Union negotiators have failed so far to achieve a breakthrough in trade negotiations with the Trump administration and may now seek to extend the status quo to avoid tariff hikes, six EU diplomats briefed on the talks said on Friday.

Equity-index futures fell and the dollar dipped after President Trump said his administration may start sending out letters imposing unilateral tariffs on trading partners as early as Friday. Ahead of his July 9 deadline for trade negotiations,

Global stocks mostly retreated on Friday as countries pushed to secure trade deals with the Trump administration ahead of a July 9 deadline for US tariffs to take effect. Markets also weighed the possible impact of US President Donald Trump's sweeping spending bill set to add an estimated $3.

Economists continue to expect the Federal Reserve would not start cutting rates again until September or even later.

Trump is expected to sign the bill on Friday around 5 p.m. ET at a White House celebration for the July 4 Independence Day holiday. The ceremony is expected to include a flyover by stealth bombers and fighter jets that took part in the recent U.