Qantas hacked; Domino's CEO shock exit; Trump-Musk feud reignites
In today's news, personal data of 6 million Qantas customers could have been stolen in a cyberattack, Domino's CEO Mark van Dyck makes a sudden exit, and the Trump-Musk feud over the president's big tax and spending bill has erupted again.
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The Advertiser
5 minutes ago
- The Advertiser
US to announce several trade deals within days: Bessent
The United States is close to clinching several trade deals ahead of a July 9 deadline when higher tariffs kick in, US Treasury Secretary Scott Bessent says, predicting several big announcements in coming days. Bessent told CNN that US President Donald Trump's administration would also send out letters to 100 smaller countries with whom the US does not have much trade, notifying them that they would face higher tariff rates first set on April 2 and then suspended until July 9. "President Trump's going to be sending letters to some of our trading partners saying that if you don't move things along, then on August 1 you will boomerang back to your April 2 tariff level. So I think we're going to see a lot of deals very quickly," Bessent said. Bessent denied that August 1 was a new deadline for negotiations. "We are saying this is when it's happening. If you want to speed things up, have at it. If you want to go back to the old rate, that's your choice," he told CNN. Kevin Hassett, who heads the White House National Economic Council, in an interview on CBS offered some wiggle room for countries engaged in earnest negotiations. "You know, the United States is always willing to talk to everybody about everything that's going on in the world," he said. "There are deadlines and there are things that are close, and so maybe things will push back past the deadline," Hassett said, adding that Trump would decide if that could happen. Stephen Miran, chairman of the White House Council of Economic Advisers, told ABC News that countries needed to make concessions to get lower tariff rates. "I hear good things about the talks with Europe. I hear good things about the talks with India," Miran said. "And so I would expect that a number of countries that are in the process of making those concessions ... might see their date rolled." The US Treasury chief said the administration was focused on 18 important trading partners that account for 95 per cent of the US trade deficit. But he said there had been "a lot of foot-dragging" among countries in getting closure on a trade deal. He declined to name countries that were close to a trade agreement, adding, "because I don't want to let them off the hook". Trump has repeatedly said India is close to signing a deal and expressed hope that an agreement could be reached with the European Union, while casting doubt on a deal with Japan. Thailand is aiming to reduce its $US46 billion ($A70 billion) trade surplus by 70 per cent within five years in a bid to avert steep US tariffs, Finance Minister Pichai Chunhavajira told Bloomberg News on Sunday. The US has threatened to impose a 36 per cent levy on imports from Thailand if a reduction cannot be negotiated before July 9. Thailand is pushing for a best-case rate of 10 per cent, Pichai told Bloomberg, adding that even a range of between 10 per cent and 20 per cent would be acceptable. Pichai expects to submit the revised offer before July 9, the report said. Since taking office, the US president has set off global trade turmoil that has up-ended financial markets and sent policymakers scrambling to guard their economies, including through deals with the US and other countries. Trump on April 2 announced a 10 per cent base tariff rate and additional amounts for most countries, some ranging as high as 50 per cent. The news roiled financial markets, prompting Trump to suspend all but the 10 per cent base rate for 90 days to allow more time for negotiations to secure deals but the process has proven more challenging than expected. That period ends on July 9, although Trump early on Friday said the tariffs could be even higher - ranging up to 70 per cent - with most set to go into effect on August 1. Bessent, asked about the 70 per cent rate, referred back to the April 2 list but that did not include such high rates. The United States is close to clinching several trade deals ahead of a July 9 deadline when higher tariffs kick in, US Treasury Secretary Scott Bessent says, predicting several big announcements in coming days. Bessent told CNN that US President Donald Trump's administration would also send out letters to 100 smaller countries with whom the US does not have much trade, notifying them that they would face higher tariff rates first set on April 2 and then suspended until July 9. "President Trump's going to be sending letters to some of our trading partners saying that if you don't move things along, then on August 1 you will boomerang back to your April 2 tariff level. So I think we're going to see a lot of deals very quickly," Bessent said. Bessent denied that August 1 was a new deadline for negotiations. "We are saying this is when it's happening. If you want to speed things up, have at it. If you want to go back to the old rate, that's your choice," he told CNN. Kevin Hassett, who heads the White House National Economic Council, in an interview on CBS offered some wiggle room for countries engaged in earnest negotiations. "You know, the United States is always willing to talk to everybody about everything that's going on in the world," he said. "There are deadlines and there are things that are close, and so maybe things will push back past the deadline," Hassett said, adding that Trump would decide if that could happen. Stephen Miran, chairman of the White House Council of Economic Advisers, told ABC News that countries needed to make concessions to get lower tariff rates. "I hear good things about the talks with Europe. I hear good things about the talks with India," Miran said. "And so I would expect that a number of countries that are in the process of making those concessions ... might see their date rolled." The US Treasury chief said the administration was focused on 18 important trading partners that account for 95 per cent of the US trade deficit. But he said there had been "a lot of foot-dragging" among countries in getting closure on a trade deal. He declined to name countries that were close to a trade agreement, adding, "because I don't want to let them off the hook". Trump has repeatedly said India is close to signing a deal and expressed hope that an agreement could be reached with the European Union, while casting doubt on a deal with Japan. Thailand is aiming to reduce its $US46 billion ($A70 billion) trade surplus by 70 per cent within five years in a bid to avert steep US tariffs, Finance Minister Pichai Chunhavajira told Bloomberg News on Sunday. The US has threatened to impose a 36 per cent levy on imports from Thailand if a reduction cannot be negotiated before July 9. Thailand is pushing for a best-case rate of 10 per cent, Pichai told Bloomberg, adding that even a range of between 10 per cent and 20 per cent would be acceptable. Pichai expects to submit the revised offer before July 9, the report said. Since taking office, the US president has set off global trade turmoil that has up-ended financial markets and sent policymakers scrambling to guard their economies, including through deals with the US and other countries. Trump on April 2 announced a 10 per cent base tariff rate and additional amounts for most countries, some ranging as high as 50 per cent. The news roiled financial markets, prompting Trump to suspend all but the 10 per cent base rate for 90 days to allow more time for negotiations to secure deals but the process has proven more challenging than expected. That period ends on July 9, although Trump early on Friday said the tariffs could be even higher - ranging up to 70 per cent - with most set to go into effect on August 1. Bessent, asked about the 70 per cent rate, referred back to the April 2 list but that did not include such high rates. The United States is close to clinching several trade deals ahead of a July 9 deadline when higher tariffs kick in, US Treasury Secretary Scott Bessent says, predicting several big announcements in coming days. Bessent told CNN that US President Donald Trump's administration would also send out letters to 100 smaller countries with whom the US does not have much trade, notifying them that they would face higher tariff rates first set on April 2 and then suspended until July 9. "President Trump's going to be sending letters to some of our trading partners saying that if you don't move things along, then on August 1 you will boomerang back to your April 2 tariff level. So I think we're going to see a lot of deals very quickly," Bessent said. Bessent denied that August 1 was a new deadline for negotiations. "We are saying this is when it's happening. If you want to speed things up, have at it. If you want to go back to the old rate, that's your choice," he told CNN. Kevin Hassett, who heads the White House National Economic Council, in an interview on CBS offered some wiggle room for countries engaged in earnest negotiations. "You know, the United States is always willing to talk to everybody about everything that's going on in the world," he said. "There are deadlines and there are things that are close, and so maybe things will push back past the deadline," Hassett said, adding that Trump would decide if that could happen. Stephen Miran, chairman of the White House Council of Economic Advisers, told ABC News that countries needed to make concessions to get lower tariff rates. "I hear good things about the talks with Europe. I hear good things about the talks with India," Miran said. "And so I would expect that a number of countries that are in the process of making those concessions ... might see their date rolled." The US Treasury chief said the administration was focused on 18 important trading partners that account for 95 per cent of the US trade deficit. But he said there had been "a lot of foot-dragging" among countries in getting closure on a trade deal. He declined to name countries that were close to a trade agreement, adding, "because I don't want to let them off the hook". Trump has repeatedly said India is close to signing a deal and expressed hope that an agreement could be reached with the European Union, while casting doubt on a deal with Japan. Thailand is aiming to reduce its $US46 billion ($A70 billion) trade surplus by 70 per cent within five years in a bid to avert steep US tariffs, Finance Minister Pichai Chunhavajira told Bloomberg News on Sunday. The US has threatened to impose a 36 per cent levy on imports from Thailand if a reduction cannot be negotiated before July 9. Thailand is pushing for a best-case rate of 10 per cent, Pichai told Bloomberg, adding that even a range of between 10 per cent and 20 per cent would be acceptable. Pichai expects to submit the revised offer before July 9, the report said. Since taking office, the US president has set off global trade turmoil that has up-ended financial markets and sent policymakers scrambling to guard their economies, including through deals with the US and other countries. Trump on April 2 announced a 10 per cent base tariff rate and additional amounts for most countries, some ranging as high as 50 per cent. The news roiled financial markets, prompting Trump to suspend all but the 10 per cent base rate for 90 days to allow more time for negotiations to secure deals but the process has proven more challenging than expected. That period ends on July 9, although Trump early on Friday said the tariffs could be even higher - ranging up to 70 per cent - with most set to go into effect on August 1. Bessent, asked about the 70 per cent rate, referred back to the April 2 list but that did not include such high rates. The United States is close to clinching several trade deals ahead of a July 9 deadline when higher tariffs kick in, US Treasury Secretary Scott Bessent says, predicting several big announcements in coming days. Bessent told CNN that US President Donald Trump's administration would also send out letters to 100 smaller countries with whom the US does not have much trade, notifying them that they would face higher tariff rates first set on April 2 and then suspended until July 9. "President Trump's going to be sending letters to some of our trading partners saying that if you don't move things along, then on August 1 you will boomerang back to your April 2 tariff level. So I think we're going to see a lot of deals very quickly," Bessent said. Bessent denied that August 1 was a new deadline for negotiations. "We are saying this is when it's happening. If you want to speed things up, have at it. If you want to go back to the old rate, that's your choice," he told CNN. Kevin Hassett, who heads the White House National Economic Council, in an interview on CBS offered some wiggle room for countries engaged in earnest negotiations. "You know, the United States is always willing to talk to everybody about everything that's going on in the world," he said. "There are deadlines and there are things that are close, and so maybe things will push back past the deadline," Hassett said, adding that Trump would decide if that could happen. Stephen Miran, chairman of the White House Council of Economic Advisers, told ABC News that countries needed to make concessions to get lower tariff rates. "I hear good things about the talks with Europe. I hear good things about the talks with India," Miran said. "And so I would expect that a number of countries that are in the process of making those concessions ... might see their date rolled." The US Treasury chief said the administration was focused on 18 important trading partners that account for 95 per cent of the US trade deficit. But he said there had been "a lot of foot-dragging" among countries in getting closure on a trade deal. He declined to name countries that were close to a trade agreement, adding, "because I don't want to let them off the hook". Trump has repeatedly said India is close to signing a deal and expressed hope that an agreement could be reached with the European Union, while casting doubt on a deal with Japan. Thailand is aiming to reduce its $US46 billion ($A70 billion) trade surplus by 70 per cent within five years in a bid to avert steep US tariffs, Finance Minister Pichai Chunhavajira told Bloomberg News on Sunday. The US has threatened to impose a 36 per cent levy on imports from Thailand if a reduction cannot be negotiated before July 9. Thailand is pushing for a best-case rate of 10 per cent, Pichai told Bloomberg, adding that even a range of between 10 per cent and 20 per cent would be acceptable. Pichai expects to submit the revised offer before July 9, the report said. Since taking office, the US president has set off global trade turmoil that has up-ended financial markets and sent policymakers scrambling to guard their economies, including through deals with the US and other countries. Trump on April 2 announced a 10 per cent base tariff rate and additional amounts for most countries, some ranging as high as 50 per cent. The news roiled financial markets, prompting Trump to suspend all but the 10 per cent base rate for 90 days to allow more time for negotiations to secure deals but the process has proven more challenging than expected. That period ends on July 9, although Trump early on Friday said the tariffs could be even higher - ranging up to 70 per cent - with most set to go into effect on August 1. Bessent, asked about the 70 per cent rate, referred back to the April 2 list but that did not include such high rates.
Perth Now
2 hours ago
- Perth Now
US to announce several trade deals within days: Bessent
The United States is close to clinching several trade deals ahead of a July 9 deadline when higher tariffs kick in, US Treasury Secretary Scott Bessent says, predicting several big announcements in coming days. Bessent told CNN that US President Donald Trump's administration would also send out letters to 100 smaller countries with whom the US does not have much trade, notifying them that they would face higher tariff rates first set on April 2 and then suspended until July 9. "President Trump's going to be sending letters to some of our trading partners saying that if you don't move things along, then on August 1 you will boomerang back to your April 2 tariff level. So I think we're going to see a lot of deals very quickly," Bessent said. Bessent denied that August 1 was a new deadline for negotiations. "We are saying this is when it's happening. If you want to speed things up, have at it. If you want to go back to the old rate, that's your choice," he told CNN. The US Treasury chief said the administration was focused on 18 important trading partners that account for 95 per cent of the US trade deficit. But he said there had been "a lot of foot-dragging" among countries in getting closure on a trade deal. He declined to name countries that were close to a trade agreement, adding, "because I don't want to let them off the hook". Trump has repeatedly said India is close to signing a deal and expressed hope that an agreement could be reached with the European Union, while casting doubt on a deal with Japan. Thailand is aiming to reduce its $US46 billion ($A70 billion) trade surplus by 70 per cent within five years in a bid to avert steep US tariffs, Finance Minister Pichai Chunhavajira told Bloomberg News on Sunday. The US has threatened to impose a 36 per cent levy on imports from Thailand if a reduction cannot be negotiated before July 9. Thailand is pushing for a best-case rate of 10 per cent, Pichai told Bloomberg, adding that even a range of between 10 per cent and 20 per cent would be acceptable. Pichai expects to submit the revised offer before July 9, the report said. Since taking office, the US president has set off global trade turmoil that has up-ended financial markets and sent policymakers scrambling to guard their economies, including through deals with the US and other countries. Trump on April 2 announced a 10 per cent base tariff rate and additional amounts for most countries, some ranging as high as 50 per cent. The news roiled financial markets, prompting Trump to suspend all but the 10 per cent base rate for 90 days to allow more time for negotiations to secure deals but the process has proven more challenging than expected. That period ends on July 9, although Trump early on Friday said the tariffs could be even higher - ranging up to 70 per cent - with most set to go into effect on August 1. Bessent, asked about the 70 per cent rate, referred back to the April 2 list but that did not include such high rates.
Sky News AU
7 hours ago
- Sky News AU
Trump's ‘Big, Beautiful Bill' a ‘mixed bag' amid deficit concerns
'Brad vs Everyone' podcast host Brad Polumbo weighs in on US President Donald Trump's 'Big, Beautiful Bill,' describing the public response as a 'mixed bag'. 'One of the key things in the 'Big, Beautiful Bill' is an extension of Trump's signature tax cuts from his first term,' Mr Polumbo said. 'Because it does not make equivalent spending cuts to accompany the huge tax cuts, it is projected to add trillions of dollars to the deficit, which runs against a lot of the things that Trump and Republicans have campaigned on and promised. 'They are putting the usual rosy spin on it, but the truth is somewhere in the middle. It's a very mixed bag.'
