Debt ceiling negotiations continue amidst political tensions.

President Joe Biden and Republican leaders are hopeful of reaching a deal to raise the US debt ceiling, following emergency talks at the White House. Without a deal, the US could enter a calamitous default on its $31.4tr debt as soon as 1 June, which could trigger global financial chaos. Republican leaders are demanding budget cuts and tougher work requirements on government aid recipients in exchange for support for raising the debt ceiling. Biden has repeatedly said that a potential debt default and budgetary issues should be separate.