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Cornell, Yale lead Ivy League K Street rush

Cornell, Yale lead Ivy League K Street rush

Politico24-07-2025
With Daniel Lippman, Victoria Guida
K STREET'S IVY LEAGUE PAYDAY: Ivy League universities in President Donald Trump's crosshairs poured record sums into lobbying during the first six months of Trump's second term, according to a PI anaylsis of disclosures filed this week. Cornell University led the Ivies with $444,000 in lobbying expenditures last quarter — a 90 percent increase from what the university spent from January through March of this year, and the most ever for the school in a single quarter.
— Cornell's lobbying outlays last quarter included $140,000 paid to Miller Strategies, which lobbied the DOJ, Education Department, Executive Office of the President, National Economic Council and both chambers of Congress on behalf of the university, according to a filing.
— The Ivies' second-biggest spender, Yale University, reported $320,000 in lobbying expenditures last quarter — nearly double what it spent during the same period a year ago. It's a nearly 30 percent increase compared to Yale's lobbying outlays during the first three months of the year.
— Yale's lobbying effort included bringing on two of K Street's most prominent lobbying shops, Brownstein Hyatt Farber Schreck and Akin Gump Strauss Hauer & Feld. The firms supplied Yale with a roster of hired guns that includes a former GOP member of Congress, one of Trump's former personal lawyers and a top Republican fundraiser.
— Columbia University, which has brought on three new outside lobbying firms since Trump's election, dropped $280,000 on federal lobbying in Q2. That's the most ever spent by the school in a single quarter, eclipsing the previous record of $270,000 set in Q1 of this year. For comparison, Columbia reported $80,000 in lobbying outlays during the second quarter of 2024.
— The school, which had become a particularly ripe target for criticism in Washington over its handling of pro-Palestinian protests on campus, announced Wednesday that it reached a settlement with the Trump administration that will see the school pay more than $200 million in exchange for unfreezing the vast majority of the $400 million in federal funds held up by the administration earlier this year.
— Columbia hired Republican lobbyist Jeff Shapiro of Tiber Creek Group in November and retained Dan Murphy of BGR Group days before Trump was inaugurated. Through the first half of the year, the university has paid $280,000 to BGR Group alone, disclosure filings show.
— Harvard University dropped $270,000 on federal lobbying in the second quarter — also a record for the school. The school, which is in the midst of multiple legal battles with the Trump administration over the freezing of federal grants and the suspension of visas for foreign students, has spent half a million dollars on influence efforts so far this year.
— Brown University also boosted its lobbying spending in the first half of the year, going from $120,000 in expenditures during Q1 to $210,000 from April through June, while Princeton University increased its Q2 spending to $290,000 from $150,000 the previous quarter. During the same time a year ago, Brown reported spending just $70,000 in federal lobbying in each of the first two quarters, while Princeton spent $100,000 in Q2 and $120,000 in Q1.
— Dartmouth College rounds out the bottom of the Ivy lobbying rankings with $188,000 in expenditures last quarter, though that is still up from $77,000 during the beginning of the year and around $40,000 during the same period last year.
— Trump's alma mater, the University of Pennsylvania, this month became the first Ivy League school to make a deal with the administration, and was the only Ivy League school that saw its lobbying spending dip last quarter. Penn Trustees reported spending $200,000 on lobbying efforts in Q2, down from $250,000 the previous quarter (though both totals are up from the $150,000 spent by Penn during each of the first two quarters of 2024).
Happy Thursday and welcome to PI. Send tips. Add me on Signal at caitlinoprysko.17, email me at coprysko@politico.com, and be sure to follow me on X: @caitlinoprysko.
WHAT THE PENTAGON'S TRAVEL OFFICE IS READING: 'The Pentagon has suspended participation in all think tank and research events until further notice, according to an email sent Thursday to staff and obtained by POLITICO, a major shift in engagement from the country's largest federal agency,' Jack Detsch reports.
— 'The decision comes a week after the Defense Department pulled out of the high-profile Aspen Security Forum citing 'the evil of globalism' and indicating the event did not align with the Trump administration's defense policies.'
— 'The Pentagon's public affairs office is also reviewing the agency's participation in other top security conferences, according to the email. It specifically banned attendance at the Halifax International Security Forum, which takes place in Nova Scotia each winter and where the Pentagon chief is usually a top guest. It was not immediately clear why that forum had been singled out.'
— 'The move would sideline the Pentagon from national security dialogues that it has used for decades to advance its policy and explain the department's rationale. Former Defense Secretaries Jim Mattis, Mark Esper and Lloyd Austin have also used think tank events, such as the International Institute for Strategic Studies' Shangri-La Dialogue and the Reagan National Defense Forum, to give major policy speeches and hold sideline meetings with both allies and adversaries.'
FINTECHS URGE TRUMP TO TAKE ON BANKS: The Financial Technology Association, American Fintech Council, Chamber of Progress Crypto Council for Innovation, The Digital Chamber and the Financial Data and Technology Association have sent a letter to Trump asking him to direct his administration to push back on a lawsuit filed by banks to block a new open banking rule. The government must file a brief on the lawsuit by July 29.
— Banks 'are exploiting regulatory uncertainty to preserve their market position and block competition, undermining your agenda and denying Americans access to the future of finance. This risks the future of fintech, digital assets, and America's financial innovation and global leadership,' they wrote. 'You can right this wrong.'
USDA PROBING FOREIGN FUNDING: 'The Agriculture Department is applying more scrutiny to research done by its employees alongside noncitizens,' per NPR's Ximena Bustillo. 'The directives, laid out in a memo which went out to USDA employees and research institutions earlier this month, are part of a broader effort to increase security measures around the U.S. food supply — especially when it comes to foreign adversaries like North Korea, China, Russia and Iran.'
— 'The sweeping instructions require recipients of USDA funding to disclose contracts associated with 'foreign entities and certify they are not party to a malign foreign talent recruitment program.' As a result of the policy, USDA also laid off 70 researchers earlier this month who were from 'countries of concern' — which included Syria, South Africa, Cuba and Venezuela.'
HOLLYWOOD IN D.C.: 'Entertainment companies and associations together spent millions of dollars during the second quarter of 2025 to press, placate and otherwise communicate with Congress, the White House and federal agencies' on everything from tariffs to intellectual property and Republicans' megabill, Dave Levinthal writes in The Ankler.
— 'Several leading players, including Netflix and Paramount, spent significantly more lobbying money than they ever have in any previous year's second quarter. Paramount had at stake not only the same issues that affect the entire industry — AI, IP protections, etc. — but also its own future as a company, with its owner, Shari Redstone (via holding company National Amusements) awaiting approval of her sale of the company to David Ellison's Skydance.'
Jobs report
— HB Strategies is adding Jay Perron as managing principal and Rachael Taylor as principal on its federal team. Perron most recently was a partner at Prism Group Public Affairs. Taylor most recently was chief of staff to Interior Secretary Deb Haaland.
— The Crypto Council for Innovation has named Ji Kim as its new CEO. Kim has been leading CCI as acting CEO since January.
— Michael Ahrens is joining FGS Global as managing director in its strategic comms division. He most recently was managing director at Bullpen Strategy Group, and is an RNC and Marco Rubio alum.
— Colleen Farley has joined Utz Brands as vice president of government relations and external communications. She previously served as director of advocacy and general counsel at SNAC International.
— Danielle Sassoon is now a senior fellow at the Manhattan Institute. She previously was U.S. attorney for the Southern District of New York, from which she resigned in protest of Justice Department leadership.
— Acting Equal Employment Opportunity Commission Chair Andrea Lucas has named Amanda Smith as director of the Office of Communications and Legislative Affairs. Smith most recently co-led government affairs comms at Lockheed Martin, and is an RNC alum.
— Megan Smith Thorpe is joining the Digital Chamber as comms director. She most recently was at Kraken, and is a Roy Cooper alum.
New Joint Fundraisers
Deluzio Stelson Victory Fund 2026 (Rep. Chris Deluzio, Friends Of Janelle Stelson)
New PACs
Emergency Committee To Save NYC (Super PAC)
For The Future Victory Fund (PAC)
League of Labor Voters (Hybrid PAC)
Prolacta Bioscience, Inc. Political Action Committee (Prolacta PAC) (PAC)
New Lobbying REGISTRATIONS
9Th Street Strategies: Pennymac Financial Services
Allen Control Systems: Allen Control Systems
Axadvocacy Government Relations: Sh130 Concession Company
Buchanan Ingersoll & Rooney Pc: The Guthrie Clinic
Butler Snow LLP: Lynch Regenerative Medicine, LLC
Db3, LLC (Fka The Daschle Group): Semi (Fka Flextech Alliance)
Dutko Government Relations: Accenture Federal Services LLC
Experience Matters, LLC: American Hydraulic Services
Federal Hall Policy Advisors, LLC: Investment Company Institute
Government Affairs Solutions, LLC: Associated Builders And Contractors
Grayrobinson Pa: Hillsborough County Board Of County Commissioners
Grayrobinson Pa: Nuview
Grayrobinson Pa: Verituity
Hb Strategies: Build America Mutual
Javelin Advisors LLC: Greg E. Lindberg
Jtr Strategies LLC: Rohde & Schwarz USa, Inc.
Key Impact Strategies: Nola Education, LLC
Merchant McIntyre & Associates, LLC: Eastern University
Merchant McIntyre & Associates, LLC: North Caddo Medical Center
Merchant McIntyre & Associates, LLC: Richland Parish, La
Pauley Management Inc.: Arkel International
Reform Action Fund: Reform Action Fund
The Farley Group, Inc.: National Native American Boarding School Healing Coalition
The Ferguson Group: Eastern New Mexico Water Utility Authority (ENMWUA)
The Nimitz Group LLC: Purple Jay LLC
The Raben Group: Tides Network
Todd Strategy Group: Pmi US Corporate Services Inc. (Fka Pmi Global Services Inc.)
Townsend Public Affairs: City Of South Pasadena
Venable LLP: Pearson Education
Zero Mile Strategies: OnebriefA Learned Hand, LLC: Communications Workers Of America
Forethought Advisors, LLC: Northwest Side Community Development Corporation
Kilpatrick Townsend Stockton LLP: Danimer Scientific
Kilpatrick Townsend Stockton LLP: Freeman Capital
Law Offices of Donald A. Barnes, PLLC: Associated Equipment Distributors
Law Offices of Donald A. Barnes, PLLC: Association of Equipment Manufacturers
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Stocks still remained in rally mode following Friday's sell-off. "India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits," wrote Trump on Monday morning. "They don't care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA," he added. President Trump's sweeping tariffs are set to come into full effect later this week. Last week, Trump announced a 25% tariff on goods from India, plus an additional import tax because of the country's purchasing of Russian oil. Swiss prepare 'more attractive offer' to US to avert 39% tariff Bloomberg reports: Read more here. EU to suspend US tariff countermeasures for 6 months The European Union announced on Monday that it would suspend its two packages of US tariff countermeasures for 6 months. 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Trump's 40% penalty for tariff dodging missing key details President Trump's tariff surprises are far from over. The US president has threatened to slap an extra 40% tariff on any product that Washington determines to be transshipped via another country. Its believed that this may be punishment, aimed at stopping goods mainly from China dodging US duties. The penalty for transshipping, which is when goods are moved from one type of transport to another, while on the way to where they're going, was included within the White house announcement on Thursday. But countries still do not have all the details. Bloomberg News reports: Read more here. Trump unleashes massive tariffs on Swiss watches, pharma firms Switzerland's exporters are bracing for financial fallout from President Trump's 39% tariffs, one of the steepest rates globally in his escalating trade war. From watch makers to pharmaceutical companies the knock on effect of Trump's new tariffs will be felt. The new tariffs on Switzerland are part of a broader package announced by Trump on Thursday. But Swiss manufacturers warned on Friday that tens of thousands of jobs are at risk due to Trump's tariff hit. Trump's 39% tariffs on Swiss exports do exclude the country's drug sector, but pharmaceutical companies Novartis AG (NVS) and Roche Holding (RHHBY) were one of the 17 global pharma firms to receive a letter from Trump demanding lower prices. "It's a massive shock for the export industry and for the whole country. We are really stunned," said Jean-Philippe Kohl, deputy director of Swissmem, representing the mechanical and electrical engineering industries. Bloomberg News reports: Read more here. Rolex, luxury watchmakers brace for Trump's tariffs on Swiss imports Yahoo Finance's Pras Subramanian reports: Read more here. Yahoo Finance's Pras Subramanian reports: Read more here. Trump says he will 'substantially' raise tariffs on India President Trump said on Monday he will "substantially" raise tariffs on India. Stocks still remained in rally mode following Friday's sell-off. "India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits," wrote Trump on Monday morning. "They don't care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA," he added. President Trump's sweeping tariffs are set to come into full effect later this week. Last week, Trump announced a 25% tariff on goods from India, plus an additional import tax because of the country's purchasing of Russian oil. President Trump said on Monday he will "substantially" raise tariffs on India. Stocks still remained in rally mode following Friday's sell-off. "India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits," wrote Trump on Monday morning. "They don't care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA," he added. President Trump's sweeping tariffs are set to come into full effect later this week. Last week, Trump announced a 25% tariff on goods from India, plus an additional import tax because of the country's purchasing of Russian oil. Swiss prepare 'more attractive offer' to US to avert 39% tariff Bloomberg reports: Read more here. Bloomberg reports: Read more here. EU to suspend US tariff countermeasures for 6 months The European Union announced on Monday that it would suspend its two packages of US tariff countermeasures for 6 months. This follows the trade deal the US and EU reached last week Sunday. Reuters reports: Read more here. The European Union announced on Monday that it would suspend its two packages of US tariff countermeasures for 6 months. This follows the trade deal the US and EU reached last week Sunday. Reuters reports: Read more here. Swiss gold trading takes spotlight in trade talks with Trump President Trump's tariffs on Switzerland were prompted by the country being the world's largest hub for gold refining. Gold flows in from places like South America, Africa and gets processed in Switzerland and then exported to countries like the US. This gold trade makes Switzerland's exports to the US look large and the refiners don't get to keep most of the profits. Bloomberg News: Read more here. President Trump's tariffs on Switzerland were prompted by the country being the world's largest hub for gold refining. Gold flows in from places like South America, Africa and gets processed in Switzerland and then exported to countries like the US. This gold trade makes Switzerland's exports to the US look large and the refiners don't get to keep most of the profits. Bloomberg News: Read more here. Greer says US-China talks 'about halfway there' on rare earths US Trade Representative Jamieson Greer said on Sunday that rare earths were a key focus in last week's Stockholm talks. He told CBS the US had secured supply commitments from China but noted the two sides are "about halfway there." Bloomberg News reports: Read more here. US Trade Representative Jamieson Greer said on Sunday that rare earths were a key focus in last week's Stockholm talks. He told CBS the US had secured supply commitments from China but noted the two sides are "about halfway there." Bloomberg News reports: Read more here. Swatch CEO calls on Swiss president to meet Trump to solve tariff dispute Swiss stocks took a hit on Monday as the market reopened after a holiday. Worries about the impact of President Trump's 39% export tariffs and a push for drugmakers to lower prices have caused tension in the market. In addition, Swatch Group ( Chief Executive Nick Hayek called on Swiss President Karin Keller-Sutter to meet President Trump in Washington to negotiate a better deal than the 39% tariffs announced on Swiss imports into the United States. Hayek told Reuters on Monday he was confident an agreement could still be reached before the tariffs, which were announced on Friday, went into effect on Aug. 7. Bloomberg News reports: Read more here. Swiss stocks took a hit on Monday as the market reopened after a holiday. Worries about the impact of President Trump's 39% export tariffs and a push for drugmakers to lower prices have caused tension in the market. In addition, Swatch Group ( Chief Executive Nick Hayek called on Swiss President Karin Keller-Sutter to meet President Trump in Washington to negotiate a better deal than the 39% tariffs announced on Swiss imports into the United States. Hayek told Reuters on Monday he was confident an agreement could still be reached before the tariffs, which were announced on Friday, went into effect on Aug. 7. Bloomberg News reports: Read more here. Malaysia agrees to boost tech, LNG purchases from US as part of trade deal Reuters reports: Read more here. Reuters reports: Read more here. Trump presses India, China to halt Russian oil buys as trade talks roll on The US and China are making progress on a trade deal, but a major sticking point remains: Washington wants Beijing to stop buying oil from Iran and Russia. China has pushed back, saying it will secure energy based on its own national interests. 'China will always ensure its energy supply in ways that serve our national interests,' China's Foreign Ministry posted on X on Wednesday following two days of trade negotiations in Stockholm, responding to the U.S. threat of a 100% tariff. 'Coercion and pressuring will not achieve anything. China will firmly defend its sovereignty, security and development interests," the ministry said. In India, Prime Minister Narendra Modi has rejected pressure from President Trump, encouraging people to buy local goods. India has not told its oil refiners to stop purchasing Russian oil, and those decisions remain up to each company. 'The world economy is going through many apprehensions — there is an atmosphere of instability,' Modi said at a rally in the northern state of Uttar Pradesh on Saturday. 'Now, whatever we buy, there should be only one scale: we will buy those things which have been made by the sweat of an Indian.' The US and China are making progress on a trade deal, but a major sticking point remains: Washington wants Beijing to stop buying oil from Iran and Russia. China has pushed back, saying it will secure energy based on its own national interests. 'China will always ensure its energy supply in ways that serve our national interests,' China's Foreign Ministry posted on X on Wednesday following two days of trade negotiations in Stockholm, responding to the U.S. threat of a 100% tariff. 'Coercion and pressuring will not achieve anything. China will firmly defend its sovereignty, security and development interests," the ministry said. In India, Prime Minister Narendra Modi has rejected pressure from President Trump, encouraging people to buy local goods. India has not told its oil refiners to stop purchasing Russian oil, and those decisions remain up to each company. 'The world economy is going through many apprehensions — there is an atmosphere of instability,' Modi said at a rally in the northern state of Uttar Pradesh on Saturday. 'Now, whatever we buy, there should be only one scale: we will buy those things which have been made by the sweat of an Indian.' Japan PM: Win-win trade deal with US may be hard to implement Bloomberg News reports: Read more here. Bloomberg News reports: Read more here. Trump tariff policy leaves some partners losers but few winners WASHINGTON (AP) — President Donald Trump's tariff onslaught left a lot of losers — from small, poor countries like Laos and Algeria to wealthy U.S. trading partners like Canada and Switzerland. They're now facing especially hefty taxes – tariffs – on the products they export to the United States starting Aug. 7. The closest thing to winners may be the countries that caved to Trump's demands — and avoided even more pain. But it's unclear whether anyone will be able to claim victory in the long run — even the United States, the intended beneficiary of Trump's protectionist policies. 'In many respects, everybody's a loser here,'' said Barry Appleton, co-director of the Center for International Law at the New York Law School. Barely six months after he returned to the White House, Trump has demolished the old global economic order. Gone is one built on agreed-upon rules. In its place is a system in which Trump himself sets the rules, using America's enormous economic power to punish countries that won't agree to one-sided trade deals and extracting huge concessions from the ones that do. Read more here. WASHINGTON (AP) — President Donald Trump's tariff onslaught left a lot of losers — from small, poor countries like Laos and Algeria to wealthy U.S. trading partners like Canada and Switzerland. They're now facing especially hefty taxes – tariffs – on the products they export to the United States starting Aug. 7. The closest thing to winners may be the countries that caved to Trump's demands — and avoided even more pain. But it's unclear whether anyone will be able to claim victory in the long run — even the United States, the intended beneficiary of Trump's protectionist policies. 'In many respects, everybody's a loser here,'' said Barry Appleton, co-director of the Center for International Law at the New York Law School. Barely six months after he returned to the White House, Trump has demolished the old global economic order. Gone is one built on agreed-upon rules. In its place is a system in which Trump himself sets the rules, using America's enormous economic power to punish countries that won't agree to one-sided trade deals and extracting huge concessions from the ones that do. Read more here. Switzerland business minister says it could revise tariffs offer ZURICH (Reuters) -The Swiss government is open to revising its offer to the United States in response to planned heavy tariffs, Business Minister Guy Parmelin said, as experts warned the 39% import duties announced by President Donald Trump could trigger a recession in Switzerland. Switzerland was left stunned on Friday after Trump hit the country with one of the highest tariffs in his global trade reset, with industry associations warning of tens of thousands of jobs being put at risk. The country's cabinet will hold a special meeting on Monday to discuss its next steps, with Parmelin telling broadcaster RTS that the government would move quickly before the U.S. tariffs are imposed on August 7. "We need to fully understand what happened, why the U.S. president made this decision. Once we have that on the table, we can decide how to proceed," Parmelin said. Read more here. ZURICH (Reuters) -The Swiss government is open to revising its offer to the United States in response to planned heavy tariffs, Business Minister Guy Parmelin said, as experts warned the 39% import duties announced by President Donald Trump could trigger a recession in Switzerland. Switzerland was left stunned on Friday after Trump hit the country with one of the highest tariffs in his global trade reset, with industry associations warning of tens of thousands of jobs being put at risk. The country's cabinet will hold a special meeting on Monday to discuss its next steps, with Parmelin telling broadcaster RTS that the government would move quickly before the U.S. tariffs are imposed on August 7. "We need to fully understand what happened, why the U.S. president made this decision. Once we have that on the table, we can decide how to proceed," Parmelin said. Read more here. Greer: Latest tariffs 'pretty much set' and unlikely to change (Reuters) -The tariffs U.S. President Donald Trump imposed last week on scores of countries are likely to stay in place rather than be cut as part of continuing negotiations, Trade Representative Jamieson Greer said on Sunday. Ahead of a Friday deadline, Trump set rates including a 35% duty on many goods from Canada, 50% for Brazil, 25% for India, 20% for Taiwan and 39% for Switzerland, according to a presidential executive order. In trade talks since Trump returned to office, the White House has lowered some rates from levels initially announced, including halving import duties set last week as part of a deal with the European Union. Greer told CBS's Face the Nation on Sunday, however, that this would not be the case on the most recent round of tariffs. "A lot of these are set rates pursuant to deals. Some of these deals are announced, some are not, others depend on the level of the trade deficit or surplus we may have with the country," he said. "These tariff rates are pretty much set." Read more here. (Reuters) -The tariffs U.S. President Donald Trump imposed last week on scores of countries are likely to stay in place rather than be cut as part of continuing negotiations, Trade Representative Jamieson Greer said on Sunday. Ahead of a Friday deadline, Trump set rates including a 35% duty on many goods from Canada, 50% for Brazil, 25% for India, 20% for Taiwan and 39% for Switzerland, according to a presidential executive order. In trade talks since Trump returned to office, the White House has lowered some rates from levels initially announced, including halving import duties set last week as part of a deal with the European Union. Greer told CBS's Face the Nation on Sunday, however, that this would not be the case on the most recent round of tariffs. "A lot of these are set rates pursuant to deals. Some of these deals are announced, some are not, others depend on the level of the trade deficit or surplus we may have with the country," he said. "These tariff rates are pretty much set." Read more here. Trump introduces tiers for trade partners in latest approach to tariffs President Trump is moving forward on a new suite of tariff rates with an approach increasingly focused on grouping countries into tiers, as opposed to a previous approach of simply looking at the trade balance. The new approach remains heavily influenced by either a trade surplus or a deficit but has grown more complex — some might say more subjective — leading to some consolidation in rate levels and the lowering of rates for many countries to a key new standard of 15%. The new landscape was reflected in Thursday night's executive action announcing rates, which centered around the 15% rate set to be in place next week in about 40 countries. Countries facing that rate include major trading partners that recently struck deals, such as Europe and Japan, as well as smaller nations, from Afghanistan to Zimbabwe. More than 100 countries were excluded altogether from this week's announcement, meaning their rate will stay at 10%. Meanwhile, a third group of about 30 countries will see higher rates ranging from 18% to 50%. Trump and his team are taking an approach that could simplify future negotiations and be more in line with global trade dynamics. Read more here. President Trump is moving forward on a new suite of tariff rates with an approach increasingly focused on grouping countries into tiers, as opposed to a previous approach of simply looking at the trade balance. The new approach remains heavily influenced by either a trade surplus or a deficit but has grown more complex — some might say more subjective — leading to some consolidation in rate levels and the lowering of rates for many countries to a key new standard of 15%. The new landscape was reflected in Thursday night's executive action announcing rates, which centered around the 15% rate set to be in place next week in about 40 countries. Countries facing that rate include major trading partners that recently struck deals, such as Europe and Japan, as well as smaller nations, from Afghanistan to Zimbabwe. More than 100 countries were excluded altogether from this week's announcement, meaning their rate will stay at 10%. Meanwhile, a third group of about 30 countries will see higher rates ranging from 18% to 50%. Trump and his team are taking an approach that could simplify future negotiations and be more in line with global trade dynamics. Read more here. Berkshire's consumer goods companies feel the sting of Trump's tariffs Not even the Oracle of Omaha can avoid the pinch of President Trump's trade war, it seems. Warren Buffett's Berkshire Hathaway said Saturday its consumer goods businesses felt the impact of Trump's trade policy, which raised tariffs on imported goods, Reuters reported: Read more here. Not even the Oracle of Omaha can avoid the pinch of President Trump's trade war, it seems. Warren Buffett's Berkshire Hathaway said Saturday its consumer goods businesses felt the impact of Trump's trade policy, which raised tariffs on imported goods, Reuters reported: Read more here. US has 'makings of a deal' with China, Bessent says Treasury Secretary said on X that the US has "makings of a deal" with China. Reuters reports: Read more here. Treasury Secretary said on X that the US has "makings of a deal" with China. Reuters reports: Read more here. Nike, Deckers, On Running among footwear stocks under pressure as Trump outlines latest tariff plans Footwear companies like Deckers (DECK), Nike (NKE), and On Holding (ONON) are under pressure from President Trump's tariff plans, including new rates released Thursday evening that range from 10% to 40%. Yahoo Finance's Brooke DiPalma reports: Read more here. Footwear companies like Deckers (DECK), Nike (NKE), and On Holding (ONON) are under pressure from President Trump's tariff plans, including new rates released Thursday evening that range from 10% to 40%. Yahoo Finance's Brooke DiPalma reports: Read more here. Stocks sink after Trump's latest tariff blitz Stocks came under pressure Friday after President Trump unveiled his plan for sweeping tariffs on almost all trading partners. Also weighing on sentiment were further signs of cracks in the labor market, punctuated by a weaker-than-expected jobs report released Friday morning. You can check out the latest action and updates in our markets live blog. Stocks came under pressure Friday after President Trump unveiled his plan for sweeping tariffs on almost all trading partners. Also weighing on sentiment were further signs of cracks in the labor market, punctuated by a weaker-than-expected jobs report released Friday morning. You can check out the latest action and updates in our markets live blog. Trump's 40% penalty for tariff dodging missing key details President Trump's tariff surprises are far from over. The US president has threatened to slap an extra 40% tariff on any product that Washington determines to be transshipped via another country. Its believed that this may be punishment, aimed at stopping goods mainly from China dodging US duties. The penalty for transshipping, which is when goods are moved from one type of transport to another, while on the way to where they're going, was included within the White house announcement on Thursday. But countries still do not have all the details. Bloomberg News reports: Read more here. President Trump's tariff surprises are far from over. The US president has threatened to slap an extra 40% tariff on any product that Washington determines to be transshipped via another country. Its believed that this may be punishment, aimed at stopping goods mainly from China dodging US duties. The penalty for transshipping, which is when goods are moved from one type of transport to another, while on the way to where they're going, was included within the White house announcement on Thursday. But countries still do not have all the details. Bloomberg News reports: Read more here. Trump unleashes massive tariffs on Swiss watches, pharma firms Switzerland's exporters are bracing for financial fallout from President Trump's 39% tariffs, one of the steepest rates globally in his escalating trade war. From watch makers to pharmaceutical companies the knock on effect of Trump's new tariffs will be felt. The new tariffs on Switzerland are part of a broader package announced by Trump on Thursday. But Swiss manufacturers warned on Friday that tens of thousands of jobs are at risk due to Trump's tariff hit. Trump's 39% tariffs on Swiss exports do exclude the country's drug sector, but pharmaceutical companies Novartis AG (NVS) and Roche Holding (RHHBY) were one of the 17 global pharma firms to receive a letter from Trump demanding lower prices. "It's a massive shock for the export industry and for the whole country. We are really stunned," said Jean-Philippe Kohl, deputy director of Swissmem, representing the mechanical and electrical engineering industries. Bloomberg News reports: Read more here. Switzerland's exporters are bracing for financial fallout from President Trump's 39% tariffs, one of the steepest rates globally in his escalating trade war. From watch makers to pharmaceutical companies the knock on effect of Trump's new tariffs will be felt. The new tariffs on Switzerland are part of a broader package announced by Trump on Thursday. But Swiss manufacturers warned on Friday that tens of thousands of jobs are at risk due to Trump's tariff hit. Trump's 39% tariffs on Swiss exports do exclude the country's drug sector, but pharmaceutical companies Novartis AG (NVS) and Roche Holding (RHHBY) were one of the 17 global pharma firms to receive a letter from Trump demanding lower prices. "It's a massive shock for the export industry and for the whole country. We are really stunned," said Jean-Philippe Kohl, deputy director of Swissmem, representing the mechanical and electrical engineering industries. Bloomberg News reports: Read more here.

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