Trump says tariff letters to 12 countries signed, going out Monday
Trump, speaking to reporters aboard Air Force One as he traveled to New Jersey, declined to name the countries involved, saying that would be made public on Monday.
Trump had earlier on Thursday told reporters that he expected a first batch of letters to go out on Friday, a national holiday in the United States, though the date has now shifted.
In a global trade war that has upended financial markets and set off a scramble among policymakers to guard their economies, Trump in April announced a 10% base tariff rate and additional amounts for most countries, some ranging as high as 50%.
However, all but the 10% base rate were subsequently suspended for 90 days to allow more time for negotiations to secure deals.
That period ends on July 9, although Trump early on Friday said the tariffs could be even higher - ranging up to 70% - with most set to go into effect August 1.
"I signed some letters and they'll go out on Monday, probably twelve," Trump said, when asked about his plans on the tariff front. "Different amounts of money, different amounts of tariffs."
Trump and his top aides initially said they would launch negotiations with scores of countries on tariff rates, but the U.S. president has soured on that process after repeated setbacks with major trading partners, including Japan and the European Union.
He touched on that briefly late on Friday, telling reporters: "The letters are better ... much easier to send a letter."
He did not address his prediction that some broader trade agreements could be reached before the July 9 deadline.
The shift in the White House's strategy reflects the challenges of completing trade agreements on everything from tariffs to non-tariff barriers such as bans on agricultural imports, and especially on an accelerated timeline.
Most past trade agreements have taken years of negotiations to complete.
The only trade agreements reached to date are with Britain, which reached a deal in May to keep a 10% rate and won preferential treatment for some sectors including autos and aircraft engines, and with Vietnam, cutting tariffs on many Vietnamese goods to 20% from his previously threatened 46%. Many U.S. products would be allowed to enter Vietnam duty free.
A deal expected with India has failed to materialize, and EU diplomats on Friday said they have failed to achieve a breakthrough in trade negotiations with the Trump administration, and may now seek to extend the status quo to avoid tariff hikes.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
24 minutes ago
- Yahoo
Buffett's 1 test to spot a 'satisfactory' asset - how to shockproof your nest egg amid Donald Trump's tariffs
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. The stock market has been on a roller coaster this year, as escalating trade tensions under President Donald Trump have rattled investor confidence. Many are worried about the fate of their finances. But investing legend Warren Buffett has a simple test to help cut through the noise — and spot what truly counts. In a 2018 interview with Yahoo Finance, Buffett said there are two types of things people buy: one qualifies as a real investment — the other, not so much. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 4 of the easiest ways you can catch up (and fast) No millions? No problem. With as little as $10, here's how you can access this $1B private real estate fund of diversified assets usually only available to major players The test to tell the difference is simple. If trading were banned for a period of time, would the asset still hold up? Buffett walked through how that works with some examples. 'If you buy something — a farm, an apartment house or an interest in a business — and look to the asset itself to determine whether you've done something, what the farm produces, what the business earns, and so on, you don't really care whether the stock market's open,' Buffett said. 'You look at the investment itself to deliver the return to you.' Simply put, the kinds of assets Buffett sees as real investments produce returns on their own. They don't need an open market — or a future buyer — to be worthwhile. That's not the case with more speculative assets. As Buffett explained: 'Now, if you buy something like Bitcoin or some cryptocurrency, you don't have anything that's producing anything. You're just hoping the next guy pays more — and you only feel you'll find the next guy to pay more if he thinks he's going to find somebody that's going to pay more.' Buffett's philosophy can offer peace of mind. Markets are inherently volatile. Even high-quality assets can swing wildly in price. But if your investment doesn't depend on being sold to someone else to deliver value, you can worry less about the day-to-day ups and downs. He summed it up clearly: 'If you ban trading in farms, you could still buy farms and have a perfectly decent investment.' Let's take a closer look at the kinds of assets that pass Buffett's test — and how you can get in on them. Buffett may not be known as a real estate investor, but he often uses real estate to illustrate what a productive, income-generating asset looks like. In 2022, Buffett stated that if you offered him '1% of all the apartment houses in the country' for $25 billion, he would 'write you a check.' Why? Because regardless of what's happening in the broader economy, people still need a place to live and apartments can consistently produce rent money. The best part? You don't need to be a billionaire investor to get in the game. Crowdfunding platforms like Arrived have made it easier for average Americans to invest in rental properties without the need for a hefty down payment or the burden of property management. With Arrived, you can invest in shares of rental homes with as little as $100, all without the hassle of mowing lawns, fixing leaky faucets or handling difficult tenants. The process is simple: browse a curated selection of homes that have been vetted for their appreciation and income potential. Once you find a property you like, select the number of shares you'd like to purchase, and then sit back as you start receiving rental income deposits from your investment. For accredited investors, Homeshares gives access to the $36 trillion U.S. home equity market, which has historically been the exclusive playground of institutional investors. With a minimum investment of $25,000, investors can gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property. With risk-adjusted target returns ranging from 14% to 17%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets. If you're interested in commercial real estate, there are plenty of opportunities as well. First National Realty Partners (FNRP), for instance, allows accredited investors to diversify their portfolio through grocery-anchored commercial properties without taking on the responsibilities of being a landlord. With a minimum investment of $50,000, investors can own a share of properties leased by national brands like Whole Foods, Kroger and Walmart, which provide essential goods to their communities. Thanks to Triple Net (NNN) leases, accredited investors are able to invest in these properties without worrying about tenant costs cutting into their potential returns. Simply answer a few questions — including how much you would like to invest — to start browsing their full list of available properties. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it Farmland is another asset Buffett likes to point to — and yes, it passes his test with flying colors. Alongside his comment about apartments in 2022, he also stated: 'If you said … for a 1% interest in all the farmland in the United States, pay our group $25 billion, I'll write you a check this afternoon.' Just like housing, farmland meets a basic human need. No matter what's happening in the markets, people still need to eat. That consistent demand makes farmland a resilient, long-term asset — and often a hedge during times of economic uncertainty. If you are interested in gaining exposure to this space, FarmTogether is an all-in-one investment platform that lets qualified investors buy stakes in U.S. farmland. The platform identifies high-potential agricultural properties and then partners with experienced local operators to manage the land effectively. Depending on the type of stake you want, you can get a cut from both the leasing fees and crop sales, providing you with a cash income. Then, years down the line after the farm rises in value, you can benefit from appreciation of the land and profits from its sale. When it comes to advice for everyday investors, Buffett suggests one simple thing: an S&P 500 index fund. These are investment funds that offer broad exposure to the S&P 500 — the top stocks listed on U.S. exchanges. Such a straightforward approach gives investors instant diversification without the need for constant monitoring or active trading. The beauty of this approach is its accessibility — anyone, regardless of wealth, can take advantage of it. Just keep in mind that, while the S&P 500 has a healthy average annual rate of return, past gains don't guarantee future returns. There may be rough times ahead, but long term, tracking the index can provide results. BlackRock CEO Larry Fink has an important message for the next wave of American retirees — here's how he says you can best weather the US retirement crisis There's a 40% chance of a recession hitting the U.S. economy this year — protect your retirement savings with these essential money moves (most of which you can complete in just minutes) Here's how 5 minutes could get you up to $2M in life insurance coverage — with no medical exam or blood test Rich older Americans are using these 3 retirement saving strategies to supercharge their nest eggs — here's how to use them to prepare for a comfy retirement Money doesn't have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNET
28 minutes ago
- CNET
We Love This Narwal Freo X Ultra Robot Vacuum and Mop Combo, and It's a Door-Busting $470 for Prime Members
Summer is in full swing and even though the Fourth of July was yesterday, there are still plenty of holiday deals that can help you score your favorite items for less. However, if you missed this major shopping event, Prime Day is coming up and there are plenty of early deals on big ticket items such as robot vacuums and mops. We've spotted this Narwal Freo X robot vacuum and mop combo for just $430 with an Amazon Prime membership. This saves you $470 and represents a total discount of 52%. This Narwal Freo X robot vacuum and mop combo offers suction power of 8200 Pa for spotless floors and carpets. Your purchase includes a base station this robot vacuum and c This Narwal Freo X robot vacuum and mop also includes a zero-tangle brush that'll be especially beneficial to pet owners and parents. The bristle brush itself is also conical and can lift debris, dust and dirt as well as pet hairs. Narwal's mops are designed not to leave behind any streaks for spotless floors. Narwal's dock includes a child-lock safety feature, detergent dispenser and a mop auto dry function. There are cool tech features such as floor-mapping, obstacle detection and weather adaptation to prevent standing water when there's no sun out. With a battery life of up to 210 minutes, this robot vacuum and mop can get through a lot of dirt and dust on a single charge. But that's not all, you can store up to seven weeks' worth of dust and debris in this Freo X's dust bag, sync it to a home assistant such as Alexa or use app controls to schedule cleanings. Keep in mind that this robot vacuum and mop is only compatible with 2.4Ghz Wi-Fi. If you need a new robot vacuum and aren't sure whether or not it's for you, check out our list of the best robot vacuums so you can suss out your options. We're also keeping up with early Prime Day deals so you can grab what you need without paying full price. James Martin/CNET Amazon Prime: 30-day free trial Prime Day requires an Amazon Prime membership, though you don't have to be a paying member to get in on the savings. Start your 30-day Prime free trial now and you'll be able to shop the best deals without paying for a subscription -- just remember to cancel before it renews. See at Amazon Best Prime Day Robot Vacuum Deals Check out our collection of top Prime Day robot vacuum deals so you can save time and money in addition to keeping your floors clean. See Now Why this deal matters This Narwal Freo X is a massive $470 off for Amazon Prime members for a limited time and saves you 52%. It includes a battery life of 210 minutes and high suction power so your floors and carpets are always clean and fresh. It's only compatible with 2.4GHz Wi-Fi, but if that's available to you then this is a fantastic deal to take advantage of while it's at this price.
Forbes
29 minutes ago
- Forbes
It's Your Last Chance To Shop The Best 4th Of July Furniture Sales
The fireworks are over and the 4th of July is firmly in the rear view mirror. But that doesn't mean that Independence Day sales are over: In fact, many of the best 4th Of July furniture sales are still running for a few more days. That means there's a bit more time to get as much as 75% off anything at Frontgate's Celebrate Summer Event, up to 70% off a wide selection of items in Wayfair's 4th Of July Clearance section or 60% off mid-century favorites at West Elm's July 4th Sale. Spruce up your home for summer with these 4th Of July furniture sales from West Elm, Pottery Barn ... More and more. Illustration: Forbes / Photo: Retailers Our deals team has researched and curated the best furniture deals from top retailers that are continuing to run their holiday weekend sales. Among those include markdowns on Forbes Vetted editor-approved products, like 30% off our favorite patio chair, 25% off our pick for one of the most comfortable couches we've tested and 36% off our top dining table. Read on to find 36 of the best 4th of July furniture sales you can still tap into right now—but don't delay, because most of these sales end on July 6. Does 4th Of July Have Good Furniture Sales? Yes, many furniture companies offer deals during the 4th of July weekend. Major brands including Wayfair and Frontgate deeply discount both their indoor and outdoor furniture, giving you the opportunity to score new pieces for your living room, dining room, bedroom and patio. What Is The Best Month To Buy Furniture On Sale? The best months to buy furniture on sale are typically January and July. During these months, brands mark down several pieces to make way for their upcoming spring and fall collections. That being said, most holiday weekends—including Memorial Day, the 4th of July and Labor Day—are opportune times to buy discounted furniture. What Kind Of Furniture Lasts The Longest? Furniture made from high-quality, durable materials will last the longest. Look for pieces made of solid wood (such as oak, walnut and teak), metal and/or leather. For patio furniture, consider options that are naturally weather-resistant or have been treated with a special waterproof coating.
