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Here's today's free edition. This is the Worldin Brief from The Economist.

Our top stories. The Federal Reserve held its benchmark interest rates steady at a range of 5.25% and 5.5%.

America's Central Bank signaled it would make just one rate cut this year,

saying it does not expect to reduce rates

until it has gained greater confidence that inflation is heading towards 2%.

Data released earlier on Wednesday showed America's annual inflation rate easing in May.

It failed to 3.3% from 3.4% in April. The core

measure which excludes volatile food and energy costs also dropped from 3.6% to 3.4%.

The European Commission announced it would introduce

new tariffs on electric vehicle imports from China.

Margaritas Shinas, the Commission's Vice President, said that Chinese companies

were benefiting from government subsidies, threatening local carmakers. The tariff rate will rise from 10% to up to 48%.

Some carmakers will be assigned individual rates.

BYD, the world's largest electric vehicle manufacturer, will have a tariff rate of 27%.

Apple reclaimed its title as the world's most valuable company with a market capitalization of $3.29 trillion.

Overtaking Microsoft, valued at $3.24 trillion for the first time in five months.

Microsoft, which has long worked with Open AI, the creator of ChatGPT,

...