It seems like everyone wants to sidestep the US now… except Japan. After almost 20 years of negotiations, the European Union and India finalized a major free-trade agreement this week, described by leaders as the “mother of all deals.”

I mean that literally and metaphorically. The agreement between Europe’s 27-nation bloc and the world’s most populous country was officially announced on Tuesday, marking the formation of one of the biggest trade deals ever:

The US is out of the loop: The deal comes after the US hiked tariffs on India and the EU. India has been looking for new trade partners after the US raised its tariff rate to 50%, while analysts say the agreement could help the EU replace around 25% of the export revenue lost to the higher US tariffs.

Once approved, the deal would reduce or eliminate tariffs on about 90% of goods traded between the two countries, which were worth over $136 billion last year. Under the agreement:

Looking forward: The pact is expected to be finalized later this year, with both sides aiming to boost trade to over $200 billion a year by 2030.

🌎 Why is this important? The so-called “mother of all deals” could hurt US businesses by making it harder for them to compete overseas, which would hugely impact where jobs are created… and which careers young Americans will actually have access to in the future.

Americans’ economic views are looking pretty… trash. This month, US consumer confidence plunged to its lowest level in more than a decade, showing Americans aren’t very optimistic about the economy.

The Conference Board, a nonprofit research organization, said its gauge of how Americans feel about the economy has dropped to 84.5, falling far short of economists’ expectations.

Why has confidence tumbled? Consumers largely reported concerns about higher prices (mainly for food, gas, and groceries), along with rising worries over job availability, politics, and health care costs.

Looking forward: Experts say the labor market will likely stay stagnant for the rest of this year, as plenty of jobs still exist, but fewer new opportunities are opening up, leaving workers treading water rather than moving ahead.

🌎 What this means for you: When consumer confidence drops, the effects usually show up in real life. People hold off on big purchases, which can cool hiring, slow raises, and make companies more cautious about expanding. For most people, that means a tougher job market, fewer perks, and more pressure to stretch every paycheck a little further.

Nothing says certainty like uncertainty. On Wednesday, the Federal Reserve voted to keep rates unchanged at 3.5% to 3.75%, a widely expected pause following three straight cuts at the end of last year.

The central bank’s decision to pause comes as inflation has slightly wittled down and the labor market is showing mixed signals:

Essentially, the economy isn’t growing as fast, but it’s not weak either, so the Fed doesn’t want to cut rates again until it sees clearer signs that inflation is cooling or the job market is getting worse.

The decision comes amid political pressure: The Supreme Court recently heard arguments over President Trump’s effort to remove Fed Governor Lisa Cook based on alleged mortgage fraud, with justices expressing concern that allowing her firing could undermine the Fed’s long-standing independence.

🌎 Why should you care? For everyday Americans, keeping interest rates on hold means borrowing money is still expensive. Mortgage rates, car loans, and credit-card interest remain high, making it harder to buy a home, finance a car, or carry a balance, which often forces households to delay big purchases (like buying that four-wheeler you’ve been looking at) and rein in spending.

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Are you ready to give up doomscrolling? Jury selection began this week for a blockbuster trial against social media giants, including YouTube and Meta, that alleges the companies intentionally designed their platforms to be harmful to young users.

The lawsuit was filed by a 19-year-old girl (only identified by the initials KGM), who alleges that design features on the platforms (like infinite scroll and autoplay) led to addiction, anxiety, depression, body dysmorphia, and suicidal thoughts.

Social media companies, however, have denied the allegations and stated that they have put safety tools in place to protect younger users. The months-long trial will begin next Tuesday:

Two companies have already settled… TikTok agreed to a settlement with the plaintiff just as jury selection was starting, and Snapchat had settled earlier, leaving Meta and YouTube as the primary defendants in court. The terms of TikTok’s settlement were not disclosed.

The trial is likely the first of many in which social media companies face juries over claims their platforms are addictive for young users:

The cases are increasingly being likened to the landmark lawsuits that exposed how Big Tobacco and Big Pharma hid the dangers of cigarettes and opioids.

It’s a worldwide problem: France may soon ban social media for children under 15, as President Emmanuel Macron pushes to remove phones from high schools by September, joining countries like the UK and Egypt in considering similar restrictions following Australia’s under-16 ban.

🌎 Why does this matter? If juries find the companies guilty, the case could influence thousands of similar personal injury lawsuits and force big tech companies to redesign apps, limit addictive mechanics, and make social-media use less compulsive and harmful for young people’s daily lives.

The Aztecs are rolling in their graves somewhere. The Doomsday Clock, which symbolizes how close humanity is to the end of the world, has been moved to 85 seconds before midnight, its closest point to apocalypse in history.

Not exactly. Midnight on the clock represents a hypothetical global disaster such as nuclear war or civilizational collapse, and the new time reflects growing existential threats to humanity.

Why move it forward? The Bulletin of Atomic Scientists (the nonprofit organization that sets the Doomsday Clock) says rising nuclear threats, climate change, biological risks, and disruptive technologies are accelerating humanity’s slide toward catastrophe.

🌎 Why should you care? The Doomsday Clock is generally considered a big deal because the major risks (like nuclear war and unchecked AI) can shape job markets, the economy, national security, and the future world… at least until the world ends.

> Astronomers have produced one of the most detailed maps of dark matter ever, showing how the invisible material overlaps and intertwines with ordinary matter to form galaxies.

> Caring for grandchildren may help protect against cognitive decline, according to a six-year study of 2,887 grandparents, which found higher memory and verbal fluency scores among those who provided child care.

> Nearly 5,000 children chose “peace” as Oxford Children’s Word of the Year, narrowly beating out “AI” and “resilience”.

> Saudi Arabia is planning a major downsizing and redesign of its $1.5 trillion Neom megaproject after years of delays, cost overruns, and financial pressures.

> A new study shows male cuttlefish attract mates by creating patterns of polarized light, a display that is invisible to the human eye.