logo
Trump confirms deal sets 15% export tariffs on EU

Trump confirms deal sets 15% export tariffs on EU

Daily Tribune4 days ago
TDT | Turnberry
US President Donald Trump said yesterday that a trade agreement struck with EU chief Ursula von der Leyen sets 15 percent tariffs on exports from the European bloc.
He told reporters in Scotland that the EU had committed to investing an extra $600 billion in the United States, as well as purchasing $750 billion worth of energy. 'We have reached a deal.
It's a good deal for everybody,' Trump told reporters after talks with von der Leyen at his golf resort in Turnberry, Scotland. The EU chief also hailed it as a 'good deal'.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Portugal May Recognise Palestinian State at UN in September
Portugal May Recognise Palestinian State at UN in September

Daily Tribune

time16 hours ago

  • Daily Tribune

Portugal May Recognise Palestinian State at UN in September

Portugal is considering officially recognising the State of Palestine during the United Nations General Assembly in September, Prime Minister Luis Montenegro's office announced on Thursday. The move comes amid growing international concern over the worsening humanitarian crisis in Gaza, where a UN-backed agency has warned of a 'worst-case famine scenario.' Portugal's government said the decision follows 'multiple discussions' with European and international partners, as the situation in the region continues to deteriorate. Officials pointed to both the humanitarian crisis and growing fears over the potential annexation of Palestinian territories by Israel. If confirmed, Portugal will join countries like France, Britain, and Canada, which have all signaled plans to recognise a Palestinian state this year. French President Emmanuel Macron recently said his country would take the step in September, hoping to build international momentum for Palestinian recognition. Portuguese President Marcelo Rebelo de Sousa said the decision was made carefully and in coordination with European allies, reflecting Portugal's concern for both the humanitarian situation and the future of the peace process.

Trump Calls India and Russia 'Dead Economies,' Announces New Tariffs on New Delhi
Trump Calls India and Russia 'Dead Economies,' Announces New Tariffs on New Delhi

Daily Tribune

time16 hours ago

  • Daily Tribune

Trump Calls India and Russia 'Dead Economies,' Announces New Tariffs on New Delhi

US President Donald Trump has sparked fresh controversy after calling India and Russia 'dead economies' while confirming that a new round of tariffs on New Delhi will take effect this week. In a late-night post on Truth Social, Trump said, 'I don't care what India does with Russia. They can take their dead economies down together, for all I care.' The president criticized India for its high import duties, describing them as 'among the highest in the world.' He also noted that the US does 'very little business' with both India and Russia, adding that he prefers to 'keep it that way.' Trump announced that a 25% tariff on Indian goods will begin on Friday, along with an unspecified 'penalty' over India's continued purchase of Russian weapons and energy. He did not clarify what the penalty would involve. The remarks come as Trump continues to pressure Russia to end its three-year war in Ukraine. Earlier this week, he warned that the US could impose more sanctions on Moscow within 10 days and hinted at 'secondary tariffs' on countries that continue to trade with Russia, such as India and China. Russian officials dismissed Trump's threats. Former President Dmitry Medvedev, now a close ally of Vladimir Putin, mocked the US leader's ultimatum, calling it 'theatrical.' Trump hit back, warning Medvedev to 'watch his words,' saying he was entering 'very dangerous territory.' India, now the world's most populous country, has been in trade talks with the Trump administration for months. However, negotiations have stalled due to US demands for greater market access, particularly in India's agriculture and dairy sectors. The new tariff is slightly lower than an earlier proposal in April but remains higher than those levied on other Asian nations with trade agreements with Washington. With tensions rising, the move risks straining relations between Washington and New Delhi, one of the US's key partners in Asia.

Trump says imposing 25% tariff on Indian imports
Trump says imposing 25% tariff on Indian imports

Daily Tribune

timea day ago

  • Daily Tribune

Trump says imposing 25% tariff on Indian imports

US President Donald Trump said yesterday that imports from India will face 25% tariffs, while also announcing an unspecified 'penalty' for New Delhi's purchases of Russian weapons and energy. The measures will kick in on Friday, Trump posted on his Truth Social platform. 'Remember, while India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country,' Trump said. He also posted in an allcaps message that the United States has a 'massive' trade deficit with India. He added that India has 'always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE.' Trump did not specify what the penalty he referred to for Russia trade will be. The measure comes as the 79-year-old Republican has signaled he intends to tighten US pressure on Moscow to halt fighting in Ukraine and negotiate a peace deal. On Tuesday, Trump said he was giving Russian President Vladimir Putin 10 days -- which would mean the end of next week -- to change course in Ukraine or face unspecified punishment. 'We're going to put on tariffs and stuff,' he said, but 'I don't know if it's going to effect Russia because obviously he wants to keep the war going.' India, the world's most populous country, was one of the first few major economies to engage Washington in broader trade talks. But six months later, Trump's sweeping demands and India's reluctance to fully open its agricultural and dairy sectors have so far prevented New Delhi from sealing a deal that would shield it from punitive tariffs. On Tuesday, Trump had said India could face a 20-25% rate since a trade deal had not been finalized. The announced tariffs will mark a huge leap from the current 10% baseline tariff on Indian shipments to the United States. Trump has set out to upend the global economy by trying to leverage US economic power to squeeze trading partners with tariffs and force foreign companies to move to the United States. Complex talks are underway with the European Union, China, Canada and other big partners. Trump has threatened to hit dozens of other countries with stiffer tariffs from this Friday unless they reach trade deals.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store