| Trump suggested he may impose tariffs on pharmaceuticals at the end of this month and that levies on semiconductors could come soon as well, indicating they may hit alongside broad “reciprocal” rates set for Aug. 1. Bank of England Governor Andrew Bailey, meanwhile, warned that Trump’s trade war is the wrong approach to addressing imbalances in the global economy and will harm households. Russia launched a massive drone attack over Ukraine’s central regions overnight, including on President Volodymyr Zelenskiy’s hometown of Kryvyi Rih, as US special envoy Keith Kellogg continues his week-long visit to Kyiv. Trump’s plan for the European Union to pay for US arms supplied to Ukraine is piling pressure on EU officials negotiating how to finance the bloc’s defense-spending ambitions.  Firefighters at the site of a Russian attack in the Vinnitsia region, Ukraine. Source: State Emergency Service of Ukraine Israel carried out air attacks in Syria and Lebanon in the past day, once again increasing tensions with its neighbors. The army struck tanks and military vehicles advancing toward southern Syria’s Suwayda province, while it also conducted “numerous strikes” targeting Hezbollah in Lebanon’s Bekaa Valley. Trump’s tariffs on Brazil, partly to pressure authorities to drop charges against Jair Bolsonaro, have thrust the nation’s conservatives into chaos as they seek to find an answer to the upheaval the levies will cause. The former president — who is banned from running in next year’s election and faces trial for an attempted coup — simultaneously tried to paint himself as the only hope to talk Trump down from the duties, while urging that the right “cannot be divided.” French Prime Minister François Bayrou proposed scrapping two national holidays, part of a drastic effort to pare back the largest budget deficit in the euro area that’s likely to unleash a parliamentary backlash. Finance Minister Eric Lombard said he’s confident the budget will be approved and is open to improving it through discussions with opposition parties. Taiwan President Lai Ching-te intends to make two stops in the US as part of a trip to the democratic island’s diplomatic allies, testing ties between Beijing and Washington just as they prepare for a possible leaders’ summit. Turkey’s most popular opposition politician, Istanbul Mayor Ekrem İmamoğlu, was set to appear in court today for allegedly threatening the city’s top prosecutor in a case that could end his career. The rift within the US Republican Party over the release of documents related to disgraced financier Jeffrey Epstein continued to widen. Extreme heat in Spain was 10 times deadlier over the past two months than during the same period last year, with an estimated 1,180 people dying due to heat waves from mid-May to mid-July. Today’s Live Q&A: Trump’s threatened to hit Russia with stiff economic penalties if it doesn’t end hostilities with Ukraine within 50 days. Will it work? Bloomberg journalists answer your questions in a live conversation at 9am EDT. Tune in here. | 
