Sen. Angela Alsobrooks takes aim at Trump tariffs with her first bill
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CNBC
24 minutes ago
- CNBC
EU push to protect digital rules holds up trade statement with U.S., FT reports
The European Union is trying to prevent the United States from targeting the bloc's digital rules as both sides work through the final details of a delayed statement to formalize a trade deal reached last month, the Financial Times reported on Sunday. EU officials said disagreements over language relating to "non-tariff barriers," which the U.S. said include the digital rules, are among the reasons for the hold-up of the statement, the newspaper said. Reuters could not immediately verify the report. The European Union, the White House and the State Department did not immediately respond to a request for comment. The statement had originally been expected days after the July announcement by EU President Ursula von der Leyen and U.S. President Donald Trump, according to FT. The July deal imposed a 15% import tariff on most EU goods - half the initially threatened rate - and helped avert a broader trade war between the two allies, who together account for nearly a third of global trade. The U.S. wanted to keep the door open for possible concessions on the EU's Digital Services Act (DSA), which Washington says stifles free speech and imposes costs on U.S. tech companies, according to FT, which added that the commission has said that relaxing these rules is a red line. The EU's DSA is a landmark law meant to make the online environment safer and fairer by compelling tech giants to do more to tackle illegal content, including hate speech and child sexual abuse material. The commission had anticipated that Trump would sign an executive order by August 15 to cut tariffs on EU car exports to the U.S. from 27.5% to 15%. However, a U.S. official signaled that this would be delayed until the joint statement was finalized, according to FT.
Yahoo
31 minutes ago
- Yahoo
US cancels India trade talks scheduled for August, NDTV Profit says
(Reuters) -A planned visit by U.S. trade negotiators to New Delhi from August 25-29 has been canceled, delaying talks on a proposed bilateral trade agreement, Indian business and financial news network NDTV Profit reported on Saturday, citing people familiar with the matter. The current round of negotiations for the proposed bilateral trade agreement is now likely to be deferred to another date, the report said, dashing hopes of some relief before the Aug. 27 deadline for the additional tariff on Indian goods kicks in. Reuters could not immediately verify the report. Earlier this month, U.S. President Donald Trump imposed an additional 25% tariff on Indian goods, citing New Delhi's continued imports of Russian oil in a move that sharply escalated tensions between the two nations. The new import tax, which will come into effect from Aug 27, will raise duties on some Indian exports to as high as 50% - among the highest levied on any U.S. trading partner. Trade talks between New Delhi and Washington collapsed after five rounds of negotiations over disagreement on opening India's vast farm and dairy sectors and stopping Russian oil purchases. India's Foreign Ministry has said the country is being unfairly singled out for buying Russian oil while the United States and European Union continue to purchase goods from Russia. Melden Sie sich an, um Ihr Portfolio aufzurufen.
Yahoo
an hour ago
- Yahoo
White House Reportedly Launches A Scorecard Rating 500+ Companies On Trump Loyalty — Who's Listed And How Ratings Are Determined
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. The White House has reportedly created a rating system to evaluate the support of corporate America for President Donald Trump's 'One Big Beautiful Bill' and other policies. White House Rates 553 firms on support for Trump policies The White House has developed a scorecard evaluating 553 companies and trade associations on their support for the 'One Big Beautiful Bill' and other Trump policies. Distributed among senior staff, the ratings will serve as a reference when reviewing corporate requests, according to Axios. The rating system evaluates multiple factors, including social media activity, press releases, video testimonials, advertisements, participation in White House events, and other forms of engagement connected to the OB3. Based on these criteria, companies are classified as strong, moderate, or low supporters. Trending: The same firms that backed Uber, Venmo and eBay are investing in this pre-IPO company disrupting a $1.8T market — The system is also expected to evolve as it will include the companies' engagement with other presidential initiatives. The official responsible for the rating system stated, 'If groups/companies want to start advocating more now for the tax bill or additional administration priorities, we will take that into account in our grading.' White House Lists Major Companies as Key Supporters of Bill, Other Trump Initiatives Some of the companies that have been identified as 'good partners' by the White House include Uber (NYSE:UBER), DoorDash (NYSE:DASH), United (NASDAQ:UAL), Delta (NYSE:DAL), AT&T (NYSE:T), Cisco (NASDAQ:CSCO), Airlines for America, and the Steel Manufacturers Association. The support from these corporations has been evident in various ways. DoorDash deliverer Maliki Krieski, for instance, publicly supported the bill at a White House event. Uber celebrated the 'No Tax on Tips' provision, a part of the bill, on a blog for drivers. Cisco's CEO, Chuck Robbins, expressed his approval of the corporate tax provisions in the bill on social media. AT&T announced plans to expedite fiber infrastructure development, attributing it to the Show Growing Support For Trump's Key Economic Policies In the recent past, several CEOs have openly supported Trump's policies and initiatives, whether it's related to tariffs, manufacturing in the U.S., or the spending bill. For instance, Apple (NASDAQ:AAPL) CEO Tim Cook presented Trump with a 24-karat gold-based plaque after securing an exemption from a 100% chip tariff. Similarly, Nvidia (NASDAQ:NVDA) CEO Jensen Huang hailed Trump's efforts to re-industrialize technology manufacturing, stating that it was the right move for the nation. At the same time, OpenAI CEO Sam Altman had a change of heart on Trump. He later admitted that his perspective on the President had evolved after observing him more closely. These examples illustrate the impact of corporate support on the Trump administration's policies. Read Next: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.30/share. If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Image via Shutterstock This article White House Reportedly Launches A Scorecard Rating 500+ Companies On Trump Loyalty — Who's Listed And How Ratings Are Determined originally appeared on
