Trump is trying to ‘cajole' Powell to lower interest rates: Commerce Secretary Howard Lutnick
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Bloomberg
26 minutes ago
- Bloomberg
Merz and Macron Just Didn't Want to Get Into a Trade War With Trump
Several European Union officials responsible for negotiating Sunday's trade agreement with the US think the deal they hammered out was the least-bad option available to the bloc, according to people familiar with their thinking. While it is officially the European Commission that handles trade matters for the EU, the deal between commission chief Ursula von der Leyen and Donald Trump that will see the US impose 15% tariffs on most European imports was shaped by national governments who tied the hands of negotiators.
NBC News
28 minutes ago
- NBC News
U.S. and China to launch new talks on tariff truce extension, easing path for Trump-Xi meeting
STOCKHOLM — Top U.S. and Chinese economic officials will resume talks in Stockholm on Monday to try to tackle longstanding economic disputes at the center of a trade war between the world's top two economies, aiming to extend a truce by three months and keeping sharply higher tariffs at bay. China is facing an Aug. 12 deadline to reach a durable tariff agreement with President Donald Trump 's administration, after Beijing and Washington reached preliminary deals in May and June to end weeks of escalating tit-for-tat tariffs and a cut-off of rare earth minerals. Without an agreement, global supply chains could face renewed turmoil from U.S. duties snapping back to triple-digit levels that would amount to a bilateral trade embargo. The Stockholm talks come hot on the heels of Trump's biggest trade deal yet with the European Union on Sunday for a 15% tariff on most E.U. goods exports to the U.S., including autos. The bloc will also buy $750 billion worth of American energy and make $600 billion worth of U.S. investments in coming years. No similar breakthrough is expected in the U.S.-China talks but trade analysts said that another 90-day extension of a tariff and export control truce struck in mid-May was likely. An extension of that length would prevent further escalation and facilitate planning for a potential meeting between Trump and Chinese President Xi Jinping in late October or early November. A U.S. Treasury spokesperson declined to comment on a South China Morning Post report quoting unnamed sources as saying the two sides would refrain from introducing new tariffs or other steps that could escalate the trade war for another 90 days. Trump's administration is poised to impose new sectoral tariffs that will impact China within weeks, including on semiconductors, pharmaceuticals, ship-to-shore cranes and other products. 'We're very close to a deal with China. We really sort of made a deal with China, but we'll see how that goes,' Trump told reporters on Sunday before European Commission President Ursula von der Leyen struck their tariff deal. Previous U.S.-China trade talks in Geneva and London in May and June focused on bringing U.S. and Chinese retaliatory tariffs down from triple-digit levels and restoring the flow of rare earth minerals halted by China and Nvidia's H20 AI chips and other goods halted by the United States. So far, the talks have not delved into broader economic issues. They include U.S. complaints that China's state-led, export-driven model is flooding world markets with cheap goods, and Beijing's complaints that U.S. national security export controls on tech goods seek to stunt Chinese growth. 'Geneva and London were really just about trying to get the relationship back on track so that they could, at some point, actually negotiate about the issues which animate the disagreement between the countries in the first place,' said Scott Kennedy, a China economics expert at the Center for Strategic and International Studies in Washington. 'I'd be surprised if there is an early harvest on some of these things but an extension of the ceasefire for another 90 days seems to be the most likely outcome,' Kennedy said. U.S. Treasury Secretary Scott Bessent has already flagged a deadline extension and has said he wants China to rebalance its economy away from exports to more domestic consumption — a decades-long goal for U.S. policymakers. Analysts say the U.S.-China negotiations are far more complex than those with other Asian countries and will require more time. China's grip on the global market for rare earth minerals and magnets, used in everything from military hardware to car windshield wiper motors, has proved to be an effective leverage point on U.S. industries. In the background of the talks is speculation about a possible meeting between Trump and Xi in late October.
Newsweek
28 minutes ago
- Newsweek
Canada's Opinion of America Hits Historic Low
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Canadian's opinions of America have reached a historic low, new polling has found. According to a survey by Pew Research Center, only 34 percent of Canadians have a favorable opinion of the U.S. while 64 percent hold an unfavorable view. This is the lowest favorability rating the researchers have tracked since they started collecting this data in 2002. Why It Matters Canada and America's relationship has deteriorated since President Donald Trump took office in January. Trump has repeatedly pushed Canada to join the U.S. and called it the 51st state. The Trump administration has also implemented numerous tariffs on Canada including a 50 percent steel and aluminum levy and a 25 percent autos tariff duty. Canada has responded with its own tax on technology giants based in the U.S. and other tariffs. Canadian leaders have also rejected Trump's 51st state taunts and emphasized Canada's independence. A combined U.S.-Canada flag flies in Sackets Harbor, New York, on July 24, 2025. A combined U.S.-Canada flag flies in Sackets Harbor, New York, on July 24, 2025. AP Photo/Cara Anna What To Know Pew Research Center polling found that Canadian's favorability rating of America was down 20 percentage points since 2024. Only in 2020, the final full year of Trump's first term, has the rating plunged to a similar level—with only 35 percent then seeing the U.S. in a favorable light. Meanwhile, only 22 percent of Canadians have confidence in Trump's approach to international affairs. Last year, 52 percent had confidence in former President Joe Biden. A further 76 percent said Trump was dangerous and 74 percent said they did not have confidence in his ability to handle global economic problems. The poll also found that 55 percent of Canadians named the U.S. as Canada's top ally, but 59 percent named it as Canada's top threat. What People Are Saying Upon winning his country's federal election in April, Canadian Prime Minister Mark Carney said: "As I've been warning for months, America wants our land, our resources, our water, our country. These are not idle threats. "President Trump is trying to break us so America can own us. That will never, ever happen. But we also must recognize the reality that our world has fundamentally changed." Canadian Foreign Minister Mélanie Joly recently told the BBC that she is taking Trump's comments on Canada becoming the 51st state "very seriously." "This is not a joke anymore," Joly said. "This is not something we laugh at. This is actually based on the conversations we've had—that I've had—with many of the Trump administration officials." What Happens Next A 35 percent tariff on Canadian products is set to go into effect August 1. Trump has said that he is prepared to increase the rate again if Canada retaliates with their own levies, or decrease them depending on changing relations between the neighboring countries.
