Good morning, Quartz readers!
What to watch for today
Beijing waits for Trump. All eyes are on the US and China to see if either country will step back from an escalating trade dispute. The Trump administration has said it will implement a 25% tariff on up to $50 billion worth of goods from China on Friday, while China has vowed to immediately retaliate with its own 25% tariffs on $34bn of American goods. But because of the time difference, any move by China Friday could precede US action. For now, China says it won’t act first.
A peek into the Federal Reserve. Minutes from the most recent Federal Reserve meeting in June are due today. At the meeting, the Fed raised its benchmark interest rate for the second time this year and signaled two more increases by year’s end. The minutes will provide details of its rationale and its outlook for the global economy.
Brexit continues to divide. British prime minister Theresa May will convene her cabinet to decide what they believe should be Britain’s future relationship with the EU. Her cabinet, however, remains deeply divided on that question. And though the clock is ticking, hopes are fading that they will find common ground.
While you were sleeping
The global economy is under threat. In a particularly sober assessment of the growing tariff war between global superpowers, The World Trade Organization notes the global system of agreed trade rules was at “potentially large risk.” It added that world economic growth was “in jeopardy” and called for “de-escalation.”
New nerve agent poisoning in the UK. A man and woman remain in critical condition after exposure to the same nerve agent that poisoned former Russian spy Sergei Skripal and his daughter Yulia four months ago, said British police. Authorities declared a major incident after the pair were found unconscious at a house in Amesbury, Wiltshire, just a few miles from the earlier event.
Trapped Thai kids appear healthy. Wrapped in foil blankets for warmth, each boy introduced himself and said “I am healthy” in a newly released video of the kids trapped in an underwater cave system in northern Thailand. One boy said “thank you” to everyone waiting for their rescue. The teenage soccer team remains trapped in the cave almost a kilometer underground. The boys have been stuck for over 11 days.
Quartz Obsession interlude
Stacy Conradt on the best thing since sliced bread: “At the turn of the century, any dishes containing peanut butter were considered delicacies due to the relatively high cost of obtaining a jar. …[Julia Davis Chandler] recommended making ‘bread fingers’ by coating thin layers of bread with peanut butter and currant or crab-apple jelly. ‘The combination is delicious, and, so far as I know, original,’ she wrote.” Read more here.
Matters of debate
We’re alone in the universe. Researchers calculated the most likely scenarios that would bring about other intelligent life in the observable universe, and the results were bleak.
“Occupied” indicators should be required for public bathrooms. Eliminating the stress involved in politely assessing whether someone’s inside is worth the cost.
Simplicity doesn’t always make things clearer. Indonesia’s grand post-colonial plan to unify its 300 ethnic groups with one simplified language only made things more complicated.
Surprising discoveries
A surplus of men can have long-lasting generational consequences. In areas where there had been a shortage of females, women currently do fewer hours of paid labor.
Confusing Romeo and Juliet’s families is a finable offense. A British exam board is being fined £175,000 ($232,000) for mixing up the Montagues and the Capulets in one of literature’s most famous feuds.
Giant hogweed can blind you—but don’t panic! Found in Southwest Asia and the US, the plant is so large, you can’t fail to notice it.
Oops. The US Postal Service is paying millions of dollars for accidentally putting a fake Statue of Liberty on its stamp.
Our best wishes for a productive day. Please send any news, comments, PBJ sandwiches, and giant hogweed sightings to hi@qz.com. You can follow us on Twitter for updates throughout the day or download our apps for iPhone and Android. Today’s Daily Brief was written by Aamna Mohdin, and edited by Xana Antunes.