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Luke Vargas
President Trump ups the ante in talks with the EU and Mexico, threatening 30% tariffs on America's first and second largest trading partners. Plus, the president clears the way for Ukraine to receive Patriot air defense systems and women are falling behind as Americans return to the office.
T'Ping Chen
Remote workers tend to get passed over for promotions more than people who do go to the office. More so that obviously for economists is concerning when they look at these differential rates of office work for men and women.
Luke Vargas
It's Monday, July 14th. I'm Luke Vargas for the Wall Street Journal, and here is the AM edition of what's News, the top headlines and business stories moving your world today. Mexico and the European union will face 30% U.S. tariffs starting Aug. 1 unless they strike trade deals with Washington Those weekend warnings from President Trump come as both the EU and Mexico have been negotiating with the U.S. while an EU spokesman has signaled that the bloc is ready to finalize the outline of a deal. The European Commission is set to present members with a second package of retaliatory tariffs today that it could deploy if negotiations fail. Speaking yesterday, Commission President Ursula von der Leyen talked up those measures but stopped short of endorsing the EU's Anti Coercion Instrument, or ACI, that would let it impose levies on US services, a move backed by French President Emmanuel Macron.
Ursula von der Leyen
The ACI is created for extraordinary situations. We are not there yet. This is very important. This is now the time for negotiations, but this also shows we are prepared for all eventual scenarios.
Luke Vargas
Fresh trade figures from China show that the country's exports topped expectations last month, rising 5.8% compared to a year earlier. That comes as Washington and Beijing reached a June truce that saw both sides roll back most of their tariffs, leading to just a 16% drop in US bound shipments compared to a more than 34% tumb in May. Economists warn that the trade relationship isn't back to normal, though, with the recovery in orders potentially caused by US importers stockpiling before the tariff rollback expires August 12. While the outcome of trade negotiations may remain in flux, economists polled by the Journal are brightening their forecasts for the US Economy as the effects of tariffs appear to be less costly than they initially expected. That's being reflected in higher growth expectations, lower recession risks and a cooler forecast for inflation compared to the last WSJ survey in April. But Deputy Finance editor Quentin Webb said time will tell if the improved mood among economists lasts.
Quentin Webb
Economists expect gross domestic product, or GDP, growth of 1% in the fourth quarter, which is better than in April, when it was just 0.8%, but half of the figure that was expected back in January. Hanging over the survey, of course, is just this very muddy outlook based on trade. For now, the labor market has held up pretty, and we haven't seen that much evidence of tariffs causing inflation rippling first through companies and then to the consumer. But it could be the case that some of this is delayed, that companies are working through stockpiles of goods and once they've gone through those inventories, it's only after that that prices will start to rise significantly. And even now, you know, of course, don't forget, in the last few days, President Trump has been unilaterally laying out new tariff rates that are likely to kick in in August. So in effect, some of this tariff shock is delayed, but maybe not delayed indefinitely.
Luke Vargas
President Trump has announced that the US Will send Patriot air defense systems to Ukraine in a bid to help Kyiv fend off escalating Russian attacks. Trump didn't say how many of the air defense systems he'll send, but that it'll be paid for by the European Union without providing any further details. Speaking to reporters at Andrews Air Force Base yesterday, Trump added to his criticism of Russian President Vladimir Putin for his role in the conflict.
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Putin really surprised a lot of people. He talks nice and then he bombs everybody in the evening. So there's a little bit of a problem there. I don't like it.
Luke Vargas
Trump is expected to meet with NATO Secretary General Mark Rutte at the White House this morning and has indicated he'll have a, quote, major announcement related to Russia. We are exclusively reporting that Elon Musk's SpaceX has agreed to invest $2 billion in his artificial intelligence company, with Musk saying on X that Tesla shareholders will also vote on a similar investment into xai. Musk has repeatedly used his business empire to boost the AI startup, which is racing to catch up with OpenAI. The SpaceX investment is part of Xai's $5 billion equity fundraise announced by Morgan Stanley last month and comes after Musk merged XAI with his social media platform X earlier this year. And bitcoin hit a record high this morning, briefly topping $122,000 before pulling back as investors bet on a big week for cryptocurrencies. Later today, the House of Representatives will begin debate on a series of bills in what House leaders have dubbed crypto at creating a regulatory framework for digital assets the crypto industry has long been calling for. It's something we discussed with Robinhood CEO Vlad Tenev on the most recent episode of what's News Sunday, the episode right before this one in your what's News feed. Coming up, as the federal government retreats from student lending, we'll look at what that could mean for borrowers and women are falling behind as Americans return to the office. We've got those stories after the break.
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Luke Vargas
The federal government is pulling back from its role in financing education. That's as President Trump's big tax and spending law includes new restrictions on how much students can borrow and how they repay. Those provisions begin to reverse the government's near takeover of the $1.7 trillion student lending market over the past six decades. And as personal finance reporter Dalvin Brown explains, that's resulting in families reassessing the cost and risks of College.
Dalvin Brown
Starting in 2026, the government will cap how much students and parents can borrow. Grad students will be able to take out up to $100,000 for master's degrees or $200,000 for programs like law school and medical school. Parent plus loans are also getting capped at $20,000 a year, and that means a lot more students will have to turn to private loans, which usually have higher interest rates and fewer protections. The way you repay your loans is also changing. So there's a fixed monthly plan or a new income driven plan with a $10 a month minimum and you'll be eligible for forgiveness after 30 years. Deferment for job loss and economic hardship are also going away.
Luke Vargas
More men than women are returning to the office as employers, From Amazon to JPMorgan Chase UR employees back to in person work. A new Labor Department survey shows that on an average day, 29% of employed men spent time working from home in 2024, down from 34% the prior year, while for women that figure stayed flat at 36%. Tepping Chen covers work culture for the Journal and spoke to our Kate Bullivant about the growing gender gap in remote work.
T'Ping Chen
Well, it reflects a preference that you do see in survey data. When you look at surveys, you do see that women broadly tend to want to spend more time working remotely than men do. And obviously there's a lot, I think, that underpins that. One of the main factors being that at the end of the day, women still have the lion's share of child rearing, caregiving responsibilities, household chores, et cetera. And so that is naturally going to influence their preferences on when and where they work.
Ursula von der Leyen
So what should we make of this gap then, when it comes to looking at what it actually means for women in the workplace?
T'Ping Chen
It varies a lot, depending obviously on your situation and your stage of career, broadly speaking. I think there is concern certainly among economists that given what we know about how remote work can really hamper people's prospects at promotions and career advancement, that this is concerning. Right. There's also studies that show women who are remote tend to get less mentorship than their male peers do. But on the flip side, for women who are more senior in their careers, there can definitely be benefits, of course, too, because when you're remote, you can focus more. You're not saddled with quite as many in office tasks that don't necessarily lead to promotions like mentorship. And I think, too, you know, we also have to consider the fact that for a lot of women, what is the alternative? Right. If working remotely helps you stay in the workforce and achieve some of your career goals, even after becoming a mother, versus dropping up potentially, there's a lot of upside there, too, even if your career is not advancing as quickly as it otherwise could.
Ursula von der Leyen
And you spoke about some of the kind of the limitations for women who are working from home more than men. Do you think that these kind of types of costs would persuade some of them to reconsider working from home?
T'Ping Chen
In reporting this piece, I spoke to many women about these choices. I spoke to one mother who had been laid off from her remote role and certainly felt like being remote made it a lot harder to demonstrate to her bosses why they should keep her. And she had recently landed a really solid job opportunity that was fully in person and said no, because even though she knows remote work is a mixed bag, it also is what she needs to do at this stage in her life. And I think that's a pretty common feeling that there are trade offs. But also it offers flexibility, which a lot of women need in order to feel like they can balance all the different priorities that they have contending how.
Ursula von der Leyen
Is the state of the current job market playing into this? And do we think that this return to office gender gap is kind of going to continue?
T'Ping Chen
Well, it's always hard to make predictions, but one thing that we do see very consistently is that as we have seen more return to office mandates, the gender gap really has widened pre and post pandemic, and it's hard to see what would change that. At least right now, we're not seeing that show up in the data. We are in an environment where companies have been trying to get more folk to go back to the office, the kind of upper hand that workers did have coming out of the pandemic. I mean, just the script has flipped and we've got now companies that have a lot more leverage over their workers, given how the overall white collar job market really has cooled. And so certainly we've seen more companies pushing folk to go back to the office. And absolutely that could affect how many women still have these arrangements moving forward and, of course, how many men, too.
Ursula von der Leyen
That was Journal reporter t' Ping Chen. T', Ping, thanks so much for your time.
T'Ping Chen
Thanks for having me.
Luke Vargas
And that's it for what's news for this Monday morning. Today's show was produced by Daniel Bach, Kate Bullivant and Azhar Sucri. Our supervising producer was Sandra Kilhoff. And I'm Luke Vargas for the Wall Street Journal. We will be back tonight with a new show.
T'Ping Chen
Until then, thanks for listening. Sam.
WSJ What’s News Summary: "Why Women Are Falling Behind Amid the Return to Office" Release Date: July 14, 2025
Introduction
In the July 14th episode of WSJ What’s News, host Luke Vargas navigates a range of pivotal topics shaping today’s business and political landscape. From escalating trade tensions and shifts in global defense support to significant developments in the education sector and the evolving dynamics of the modern workplace, this episode delves into the intricacies affecting both markets and societal structures. A focal point of the discussion centers on the gender disparities emerging as companies increasingly mandate a return to in-person work environments.
1. Escalating US Tariffs on the EU and Mexico Timestamp: 00:48
President Donald Trump has intensified trade negotiations by threatening to impose a 30% tariff on goods from the European Union (EU) and Mexico starting August 1st. These tariffs target America’s two largest trading partners unless favorable trade deals are reached with Washington.
EU's Response: The European Commission is preparing to introduce a second round of retaliatory tariffs. Ursula von der Leyen, the Commission President, emphasized the EU's readiness to implement the Anti Coercion Instrument (ACI) if negotiations falter.
Ursula von der Leyen (01:50): "The ACI is created for extraordinary situations. We are not there yet. This is very important. This is now the time for negotiations, but this also shows we are prepared for all eventual scenarios."
Despite ongoing negotiations, the EU has signaled preparedness for various outcomes, reflecting the tense trade environment.
2. US-China Trade Relations and Economic Forecasts Timestamp: 02:09
Recent trade data from China revealed a 5.8% year-over-year increase in exports, surpassing expectations. This improvement follows a June truce between Washington and Beijing, which resulted in a moderation of tariff-related declines in US-bound shipments.
Economists remain cautious, noting that the recovery might be influenced by US importers stockpiling ahead of the August 12th expiration of the truce. Nonetheless, sentiments are optimistic, with forecasts indicating:
Quentin Webb, Deputy Finance Editor (03:13):
"Economists expect gross domestic product, or GDP, growth of 1% in the fourth quarter, which is better than in April, when it was just 0.8%, but half of the figure that was expected back in January. Hanging over the survey, of course, is just this very muddy outlook based on trade."
Webb cautions that while current indicators are positive, the long-term impact of ongoing tariffs remains uncertain.
3. US Support for Ukraine Amid Rising Tensions Timestamp: 04:16
President Trump announced the US will supply Ukraine with Patriot air defense systems to bolster Kyiv’s defenses against escalating Russian assaults. While the exact number of systems remains undisclosed, Trump stated the funding would be sourced from the EU.
His remarks at Andrews Air Force Base also included heightened criticism of Russian President Vladimir Putin.
Trump (04:44): "Putin really surprised a lot of people. He talks nice and then he bombs everybody in the evening. So there's a little bit of a problem there. I don't like it."
Trump is anticipated to discuss a significant announcement related to Russia in an upcoming meeting with NATO Secretary General Mark Rutte.
4. Elon Musk’s SpaceX Investment in XAI and Cryptocurrency Developments Timestamp: 04:53
In exclusive reporting, it was revealed that Elon Musk’s SpaceX has committed $2 billion to his artificial intelligence venture, XAI. This investment is part of a broader $5 billion equity fundraising spearheaded by Morgan Stanley, following the merger of XAI with Musk’s social media platform, X.
Additionally, Bitcoin reached a record high, momentarily surpassing $122,000 before a slight pullback as investors anticipate significant cryptocurrency-related legislative debates in the House of Representatives. These discussions aim to establish a regulatory framework for digital assets, a long-standing demand within the crypto industry.
5. Federal Government’s Shift in Student Lending Policies Timestamp: 07:10
The federal government is retracting its extensive role in financing higher education, influenced by provisions in President Trump’s tax and spending law. These changes introduce new limitations on student borrowing and repayment methods, effectively reversing decades of government oversight in the $1.7 trillion student loan market.
Dalvin Brown, Personal Finance Reporter (07:39):
"Starting in 2026, the government will cap how much students and parents can borrow. Grad students will be able to take out up to $100,000 for master's degrees or $200,000 for programs like law school and medical school."
Key alterations include:
These changes prompt families to reassess the financial viability and risks associated with pursuing higher education.
6. The Gender Gap in the Return to Office Timestamp: 07:10 – 12:35
As corporations like Amazon and JPMorgan Chase mandate a return to in-person work, emerging data from a Labor Department survey reveals a troubling trend: a disproportionate number of men are resuming office attendance compared to women. Specifically, in 2024, only 29% of employed men worked from home on an average day, down from 34% the previous year, whereas the figure for women remained steady at 36%.
T'Ping Chen, Journal Reporter (09:03):
"When you look at surveys, you do see that women broadly tend to want to spend more time working remotely than men do. ... women still have the lion's share of child rearing, caregiving responsibilities, household chores, et cetera."
Discussion with Kate Bullivant:
Chen and Bullivant explore the multifaceted reasons behind this gender disparity:
Caregiving Responsibilities: Women disproportionately shoulder caregiving and household duties, influencing their preference for remote work to balance professional and personal responsibilities.
Career Advancement Concerns: Remote workers, particularly women, are more likely to be overlooked for promotions. Lack of in-person presence can reduce mentorship opportunities and visibility within organizations.
Chen (09:40):
"It varies a lot, depending obviously on your situation and your stage of career, broadly speaking. ... But it offers flexibility, which a lot of women need in order to feel like they can balance all the different priorities that they have."
Economic Implications: Economists express concern that reduced office presence may hinder women's career trajectories, potentially widening existing gender gaps in leadership and remuneration.
Ursula von der Leyen's Contribution:
While not directly related to the gender topic, von der Leyen’s insights on trade negotiations provide a broader context of the economic environment impacting workforce dynamics.
Conclusion of Discussion:
The conversation highlights the critical need for corporate policies that accommodate the unique challenges faced by women in the workforce, especially as the landscape shifts towards traditional office-based roles.
Final Thoughts from T'Ping Chen (11:43):
"It's always hard to make predictions, but one thing that we do see very consistently is that as we have seen more return to office mandates, the gender gap really has widened pre and post pandemic, and it's hard to see what would change that."
The persistent gender gap underscores the importance of developing inclusive workplace strategies that support diversity and equality in career advancement opportunities.
Closing Remarks
The episode wraps up with acknowledgments to the production team and a preview of upcoming shows, promising continued coverage on the pressing issue of gender disparities in the evolving work environment.
Notable Quotes
Ursula von der Leyen (01:50): "The ACI is created for extraordinary situations. We are not there yet. ... we are prepared for all eventual scenarios."
Quentin Webb (03:13): "Economists expect gross domestic product, or GDP, growth of 1% in the fourth quarter... But Deputy Finance editor Quentin Webb said time will tell if the improved mood among economists lasts."
Dalvin Brown (07:39): "Starting in 2026, the government will cap how much students and parents can borrow..."
T'Ping Chen (09:03): "Women broadly tend to want to spend more time working remotely than men do..."
T'Ping Chen (11:43): "It's always hard to make predictions, but ... the gender gap really has widened pre and post pandemic..."
This comprehensive summary encapsulates the key discussions and insights from the WSJ What’s News episode, providing a clear understanding of the various interconnected issues affecting today's economic and social landscapes.