SUMMARY: President Trump’s tariffs on China, Mexico, and Canada have raised concerns about a potential recession in the U.S. A recession is defined as a significant decline in economic activity, lasting more than a few months, often marked by two consecutive quarters of negative GDP. During a recession, unemployment typically rises, consumer spending often decreases, and manufacturing can decline, leading to falling prices and increased government deficits. Current predictions of a recession’s likelihood vary, with Goldman Sachs estimating a 20% chance, and J.P. Morgan Chase forecasting a 40% chance, highlighting the uncertainty among experts.

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SUMMARY: The U.S. announced the restoration of military aid and intelligence sharing to Ukraine after talks in Jeddah, Saudi Arabia. Ukraine expressed readiness to accept a proposed 30-day ceasefire, contingent on Russian agreement. A joint statement emphasized that U.S. communication with Russia will stress that their cooperation is essential for peace. The U.S. will provide $4 billion in military aid and begin discussions on a comprehensive peace agreement, involving European partners. U.S. officials expressed hope that Russia would agree to the ceasefire, signaling a potential shift towards diplomatic resolution, while highlighting Ukraine’s gratitude for American support.

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SUMMARY: A cargo ship collided with a tanker transporting jet fuel for the U.S. military off eastern England, resulting in fires and explosions that burned for over 24 hours. One sailor is presumed dead, while 36 crew members were rescued. The Portugal-registered Solong hit the U.S.-flagged MV Stena Immaculate, causing a leak of jet fuel into the North Sea, although no significant pollution has been reported. Environmentalists warn of potential harm to marine life and seabirds, especially given the collision’s location near fishing grounds. Investigations are ongoing, and the U.K. government is monitoring the situation and air quality.

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