G7 leaders set to clash with combative Trump over tariffs, trade -Reuters

BLOC QUÉBÉCOIS: 7 and Trump: Can’t live with him, can’t live without him As leaders of the world’s industrialized powers gather in Quebec, it’s everyone versus the US president. -Politico

Donald Trump’s demolition theory of foreign policy won’t work These gains would be striking from any American president. From a man who exults in breaking foreign-policy taboos, they would be truly remarkable. But are they likely? And when Mr Trump seeks to bring them about with a wrecking ball aimed at allies and global institutions, what is the balance of costs and benefits to America and the world? -The Economist

President Trump’s tariffs have united his opponents at home and abroad The domestic and diplomatic costs of picking trade fights -The Economist

POWER OF THE PRESIDENCY GOP waves white flag on Trump trade clash Senate GOP leaders are quashing a bid from Sen. Bob Corker to rein in Trump's tariffs. -Politico

Paul Ryan Promises House Immigration Bill in Election Season -NYT

Pioneers of the Next America The road to renewal in America begins with re-learning how to tell the story of our shared national destiny. -The American Interest

Trump Is No Reagan When It Comes to Union-Busting The economy today is very different. Opposing labor won’t be popular. -Bloomberg

Aiming at Trump strongholds, Mexico hits back with trade tariffs Mexico put tariffs on American products ranging from steel to pork and bourbon on Tuesday, retaliating against import duties on metals imposed by President Donald Trump and taking aim at Republican strongholds ahead of U.S. congressional elections in November. -Reuters

US pushes for Venezuela to be suspended from OAS The United States and six influential members of the Organization of American States urged the body Monday to reject Venezuela's elections and to begin moves to kick Caracas out of the club. -Yahoo News



Senator queries Alphabet, Twitter on ties with Huawei -Reuters

Google Renounces AI Weapons; Will Still Work With Military -Bloomberg

Chinese phone maker ZTE saved from brink after deal with U.S. -Reuters

ZTE provides a lens into U.S.-China technology and data war The Chinese electronics giant ZTE finds itself in the middle of U.S.-China tariff and trade war tensions. The controversy is complex, involving trade sanction violations, punishment by the U.S. government and the surprise intervention of President Donald Trump to try to save the firm.-Marketplace

U.S. Senator Mark Warner at Code 2018 On Mark Zuckerberg’s Congressional hearings: “I thought, ‘Oh God, they’re going to leap to it.’ Then I was saying, ‘Oh my God. This is an embarrassment.’” -Recode Video

Exclusive: U.S. Justice Department probes T-Mobile-Sprint merger effect on smaller wireless companies -Reuters

K Street cash can’t kill tariffs from Macy’s to Ford to Facebook — are pushing back against the tariffs in an effort to prevent a trade war.  “But lobbyists are nonetheless struggling to sway White House decisions, or even predict them. They again risked looking feckless when the Trump administration said Thursday it would impose tariffs on steel and aluminum imports from Canada, Mexico and the European Union. -Politico

Airbus set to close deal for majority stake in Bombardier Cseries -Reuters


Argentina Secures $50 Billion in IMF Backing to Bolster Economy Argentina secured a $50 billion stand-by arrangement from the International Monetary Fund to help restore investor confidence as the government takes aim at double-digit inflation and a widening budget deficit. -Bloomberg

Chile economic activity strongest in six years -NASDAQ

LIQUIDITY IS THE NEW LEVERAGE Why the toxic combination of bank regulation, algorithmic investing, and QT has put equity and bond markets at increased risk of a systemic event. -13D

Quebec Halts Bitcoin Mining Power Requests Amid Booming Demand -Bloomberg

Roll Up for the Great Permian Sale (While It Lasts) The sector has quickly gone from untouchable to M&A bait. -Bloomberg

BIG DATA DIVE Global gas and oil infrastructure. The Department of Energy’s National Energy Technology Laboratory has published what it says is the “first-ever database inventory of oil and natural gas infrastructure information from the top hydrocarbon-producing and consuming countries in the world.” The database contains tons of geospatial information and “identifies more than 4.8 million individual features like wells, pipelines, and ports from more than 380 datasets in 194 countries …” -EDX [h/t Data is Plural]

An Oil Auction Provides Brazil a Needed Boost -NYT

Oil prices rise on ongoing Venezuelan supply trouble -Reuters