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MONEY-MARKET FUND ASSETS JUMP $122B, MOST SINCE APRIL 2020, PER ICI

US President Donald Trump has given the European Union until July 4 to implement its side of last year’s trade agreement or face “much higher” tariffs, the Financial Times reported, citing people familiar with the matter. Trump also offered a reprieve from threatened higher car tariffs after speaking with European Commission President Ursula von der Leyen. Under the deal struck in Turnberry, the US would reduce tariffs on most EU goods to 15%, while the EU agreed to cut tariffs on US industrial goods and some agricultural products to zero. Von der Leyen said both sides remain committed to implementing the agreement and making progress toward tariff reductions by early July.