✅ In China, the May PMIs showed that industrial activity contracted for a second consecutive month despite the trade truce with the U.S.

✅ The Chinese government accused President Donald Trump of escalating the trade war and announced it would take strong measures if the U.S. proceeds with new tariffs, further raising bilateral tensions

✅ U.S. Treasury Secretary Scott Bessent stated that the U.S. will never default on its debt, as Congress enters a critical phase to raise the debt ceiling before funds run out