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Good morning from the Financial Times. Today is Thursday, July 3rd, and this is your FT News Briefing.

The EU is under pressure to weaken its artificial intelligence regulations, and the U.S.

wants to get trade deals done before higher tariffs kick back in. Plus, the U.K. has a big

fiscal hole, and not a lot of great options to fill it.

I'm Sonia Hudson, and here's the news you need to start your day.

The CEOs of several dozen large European companies want Brussels to pause its AI Act.

Those firms include Airbus and B&P Paribus.

They sent an open letter calling for a two-year delay on implementing the law, which is considered the world's strictest.

The CEOs warned that the regulations are threatening the European Union's competitiveness in the global AI race.

The EU was already considering watering down key parts of the law that are set to go into effect in August.

The European Commission said it's sticking with the main goals of the AI Act, but it also said all options are on the table right now.

President Donald Trump's so-called Liberation Day tariffs have been on pause for the last few months.

But that's supposed to end on July 9th.

Countries have spent the last few months racing to negotiate trade deals with the U.S., with not that much to show for it.

Here to give us an update on the trade war is the FTs Amy Williams.

Hi, Amy.

Hi.

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