5 Stories to Watch Next Week | July 3, 2020

5 Stories to Watch Next Week There are simply too many developing stories to follow in the world. To make things easier, we narrowed them down to five that you should really watch next week: The latest with the coronavirus and its economic impact — The coronavirus continues to surge across the United States, with the number of cases increasing in several states. Some of these states have paused their efforts to reopen, while others are pressing ahead. Interestingly, data suggests that the share of patients with coronavirus who die from the virus appears to be steadily declining. Meanwhile, the unemployment rate fell to 11.1 percent in June, down from a peak of 14.7 percent in April, according to the latest official figures. The US added about 4.8 million jobs. We’ll need to watch next week how the virus continues to develop and how that affects states’ plans to reopen. The economy is improving, but if the coronavirus continues to spike, the situation could change. Tracking the National Defense Authorization Act — The House Armed Services Committee on Wednesday approved plans for the National Defense Authorization Act. The $740 billion legislation would “provide a three-percent raise for troops, limit the president’s ability to withdraw troops from Europe and Afghanistan, and force the military to reckon with Confederate symbols and legacy on its bases,” according to the Military Times. President Trump threatened to veto the bill if it includes a provision that calls on the Department of Defense to change the names of military assets and installations named for Confederate officers. Senate Majority Leader Mitch McConnell (R., Ky.) urged the president to reconsider his threat. With both the House and Senate actively moving to pass the annual defense bill, watch next week to see if any significant progress is made. And watch to see whether President Trump stands by his threat. US-Mexico-Canada trade agreement goes into effect — The new trade deal between the US, Canada, and Mexico to replace NAFTA (the North American Free Trade Agreement) went into effect this week. President Trump hailed the deal as a major achievement, and Mexico celebrated its implementation. Mexican President Andrés Manuel Obrador will travel to Washington, DC, next week to recognize the accord. Industries are still working to understand new guidelines, and it remains to be seen how the deal will fare initially with the global economy still struggling amid the coronavirus. Watch next week for the Mexican president’s meeting with President Trump and how the world reacts to the new trade deal. US moves to seize Iranian fuel headed for Venezuela — American federal prosecutors on Wednesday filed suit to seize four tankers-worth of gasoline that Iran is sailing to Venezuela. Iran, which needs money, has been sending gas to Venezuela, which needs fuel. The arrangement has irked the United States, which has imposed economic sanctions on both countries, which are ruled by anti-American regimes. As the Wall Street Journal reports, by “filing a civil-forfeiture complaint, US prosecutors aim to not only prevent delivery of the Iranian fuel to Venezuela, which began the journey last month, but also deprive Tehran of the revenues from the cargo and deter future shipments.” Prosecutors allege in the suit that an Iranian businessman affiliated with Iran’s Islamic Revolutionary Guard Corps arranged the deliveries of fuel through a network of shell companies to avoid detection and evade sanctions. With the US escalating this dispute with the lawsuit, we’ll need to watch what happens next week. How far is the US willing to go to stop the Iranian shipments? China imposes new security laws on Hong Kong; Britain to take countermeasures — China officially passed its sweeping new national security law for Hong Kong this week. The law allows Chinese authorities to crack down on various forms of dissent inside Hong Kong, effectively ending Hong Kong’s relative autonomy from Beijing. Hong Kong’s police quickly enforced the law and arrested demonstrators who gathered to protest the new draconian restrictions. Western democracies are taking measures to respond to China’s latest act of authoritarian aggression. The House on Wednesday passed legislation that would penalize banks doing business with Chinese officials who implement the law. Australia is considering whether to provide safe haven to Hong Kong’s residents. The United Kingdom, which transferred Hong Kong to China in 1997 with the understanding that the territory would maintain its autonomy, has forcefully condemned China’s new law. Britain has retaliated with new rules to make it easier for Hong Kongers to emigrate to the UK. China promised to take countermeasures if Britain moves ahead with plans to extend citizenship rights to Hong Kongers. We’ll need to watch next week how these tensions continue to play out. China’s new law could prove to be a major flashpoint. Order Newt's Latest Book: https://www.gingrich360.com/trump-and-the-american-future

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