Japan, US Trade Negotiators Meet as Aug. 1 Tariff Deadline Looms
Why the Federal Reserve's Building Renovation Costs $2.5 Billion
Salt Lake City Turns Winter Olympic Bid Into Statewide Bond Boom
Milan Corruption Probe Casts Shadow Over Property Boom
How San Jose's Mayor Is Working to Build an AI Capital
The two met in Washington for more than two hours on Monday evening, Japan's cabinet secretariat said in a statement Tuesday. They had frank, in-depth discussions toward achieving a mutually beneficial agreement, the statement said, while adding that Japan still aims to protect its national interests.
Akazawa is in the US capital for an eighth round of trade talks with his US counterparts — negotiations that have so so far produced no concrete results since they began in April. Japanese Prime Minister Shigeru Ishiba is under renewed pressure to secure reprieves before the Aug. 1 deadline, following his ruling coalition's historic election loss on Sunday.
Barring a deal, universal tariffs on Japan's exports to the US are set to rise to 25% on Aug. 1, up from the baseline 10% and an original 24%.
Asked about how the election results could affect talks with Japan, US Treasury Secretary Scott Bessent deflected the question on Monday.
'Our priorities are not the internal workings of the Japanese government,' Bessent said on CNBC. 'Our priorities are getting the best deal for the American people.'
During his trip to Japan last week when he led the US delegation's visit to the World Expo in Osaka, Bessent said that a mutually beneficial agreement between the two nations remains a possibility. He added that a good deal is more important than a rushed one.
Elon Musk's Empire Is Creaking Under the Strain of Elon Musk
A Rebel Army Is Building a Rare-Earth Empire on China's Border
Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot
How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All
What the Tough Job Market for New College Grads Says About the Economy
©2025 Bloomberg L.P.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hamilton Spectator
11 minutes ago
- Hamilton Spectator
Israeli gunshots and strikes kill at least 25 in Gaza, some while seeking aid
DEIR AL-BALAH, Gaza Strip (AP) — Israeli airstrikes and gunshots overnight killed at least 25 people, according to Palestinian health officials and the ambulance service on Saturday, as ceasefire talks appear to have stalled and Gaza faces famine. The majority of victims were killed by gunfire as they waited for aid trucks close to the Zikim crossing with Israel, said staff at Shifa hospital, where the bodies were brought. Israel's army didn't respond to a request for comments about the latest shootings. Those killed in strikes include four people in an apartment building in Gaza City, among others, hospital staff and the ambulance service said. The strikes come as ceasefire talks between Israel and Hamas have hit a standstill after the U.S and Israel recalled their negotiating teams on Thursday, throwing the future of the talks into further uncertainty. Israeli Prime Minister Benjamin Netanyahu said Friday his government was considering 'alternative options' to ceasefire talks with Hamas . His comments came as a Hamas official said negotiations were expected to resume next week and portrayed the recall of the Israeli and American delegations as a pressure tactic. Egypt and Qatar, which are mediating the talks alongside the United States, said the pause was only temporary and that talks would resume, though they did not say when. Experts and the UN warn of famine For desperate Palestinians, a ceasefire can't come soon enough. The United Nations and experts say that Palestinians in Gaza are at risk of famine, with reports of increasing numbers of people dying from causes related to malnutrition. While Israel's army says it's allowing aid into the enclave with no limit on the number of trucks that can enter, the U.N. says it is hampered by Israeli military restrictions on its movements and incidents of criminal looting. The Zikim crossing shootings come days after at least 80 Palestinians were killed trying to reach aid entering through the same crossing. Israel's military said at the time its soldiers shot at a gathering of thousands of Palestinians who posed a threat, and that it was aware of some casualties. During the shootings Friday night, Sherif Abu Aisha said people started running when they saw a light that they thought was from the aid trucks, but as they got close, they realized it was from Israel's tanks. That's when the army started firing on people, he told The Associated Press. He said his uncle, a father of eight, was among those killed. 'We went because there is no food ... and nothing was distributed,' he said. Israel is facing increased international pressure to alleviate the catastrophic humanitarian crisis in Gaza. More than two dozen Western-aligned countries and over 100 charity and human rights groups have called for an end to the war, harshly criticizing Israel's blockade and a new aid delivery model it has rolled out. The charities and rights groups said even their own staff were struggling to get enough food . For the first time in months, Israel said it is allowing airdrops, requested by Jordan. A Jordanian official said the airdrops will mainly be food and milk formula. British Prime Minister Keir Starmer wrote in a newspaper article on Saturday that the U.K. was 'working urgently' with Jordan to get British aid into Gaza. Aid group the World Central Kitchen said on Friday that it was resuming limited cooking operations in Deir al-Balah after being forced to halt due to a lack of food supplies. It said it's trying to serve 60,000 meals daily through its field kitchen and partner community kitchens, less than half of what it's cooked over the previous month. — Magdy reported from Cairo, Egypt Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Yahoo
28 minutes ago
- Yahoo
Trade deals fuel Wall Street gains while Trump renews Fed attack
Wall Street closed the week higher, with tech-heavy indices notching fresh records as upbeat corporate earnings, resilient macro data and breakthrough trade deals converged to boost risk appetite. The U.S. finalized new trade agreements with Indonesia, the Philippines and Japan. The Tokyo deal was the most significant, locking in a reduction in tariffs on Japanese autos and goods from 25% to 15%, while Japan pledged $550 billion in investment and improved access to American-made goods. A U.S.-EU trade deal is now reportedly close, expected to align with the Japan framework and potentially ease existing tariff rates ahead of the Aug. 1 deadline. Separately, President Donald Trump signed an executive order to boost the U.S. artificial intelligence sector by promoting the export of full-stack AI systems to trusted global partners. The White House said the move is aimed at strengthening economic leadership and national security. Among the week's strongest performers, Thermo Fisher Scientific rallied over 12%, topping the leaderboard for large-cap stocks, followed by T-Mobile US, up 9%. Within the Magnificent Seven, Alphabet rose by 1% after delivering better-than-expected results and raising its 2025 capex outlook by $10 billion, reinforcing its commitment to scaling AI infrastructure. More: S&P 500, Nasdaq 100 hit fresh highs as even retail scores wins over the week Tesla dropped 8.2% following cautious commentary from CEO Elon Musk, who warned that upcoming quarters could prove challenging amid rising costs and margin pressures. Economic indicators added fuel to the rally. U.S. business activity surprised to the upside, with the Composite Purchasing Managers' Index climbing to a seven-month high in July, helped by expansion in services and steady consumer strength. Trump's push to influence monetary policy continued with an unannounced visit to the Federal Reserve's headquarters in Washington, D.C. — the first by a sitting president in nearly 20 years. Wearing a hard hat alongside Fed Chair Jerome Powell, Trump criticized the central bank's renovation project, claiming costs had surged to $3.1 billion. Powell countered on the spot, clarifying that the real cost is closer to $2.5 billion, excluding unrelated construction. Pressed on rate policy, Trump said, 'I'd love to see him lower interest rates.' Markets now shift focus to the July 30 Fed meeting, where expectations remain anchored for a hold — but not without growing political heat. Benzinga is a financial news and data company headquartered in Detroit. This article originally appeared on Detroit Free Press: Trade deals fuel Wall Street gains while Trump renews Fed attack Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
39 minutes ago
- Yahoo
I Asked ChatGPT How Much the Average Middle-Class Retiree Spends Monthly at Age 75: Here's What It Said
Retirement spending statistics are often valuable to consider, whether one is comparing and contrasting said figures with their budgetary situation as retirees or plotting a comfortable path to enjoy one's golden years. Read More: Find Out: ChatGPT is growing in popularity as an artificial intelligence (AI) research tool as well as a personal finance tipster, so it may be valuable to consult its take on exactly how much a middle-class retiree might be expected to spend when they reach age 75. Here's what it said — though, as always, it's best to take generative AI data with a pinch of salt. Using Fed and BLS Data as a Baseline ChatGPT gestured toward data from the Federal Reserve of St. Louis (FRED) and the Bureau of Labor Statistics (BLS) as its primary sources. However, on first glance, while the module did cite BLS table 1300 as an accurate source, it did not correctly identify $53,481 as the mean annual expenditure for Americans aged 75 and older (instead providing a much lower figure of $36,673) in 2022 survey data terms. Once course-corrected, however, ChatGPT provided the following breakdown of expenditures, inflation-adjusted for 2025. Housing: $29,145 Food: $7,249 Healthcare: $9,694 Transportation: $5,390 Entertainment: $2,696 Cash contributions (donations, gifts, alimony or child support): $3,851 Apparel and services: $1,219 Personal insurance: $963 Miscellaneous: $3,977 That amounts to a projected total of $64,184 in annual expenses for middle-class retirees in this age group in 2025. What the future holds is uncertain, and these figures may be less than concrete, but they do provide a general guideline as to what one can expect reality to look like. Discover Next: Key Expense Insights for Retirees Age 75 and Older A few notable pieces of insight that the LLM issued as part of a category breakdown included the fact that housing was, by far, the largest expense — 'even in mortgage-free households' — due to property taxes, maintenance, utilities and insurance. Healthcare did tick upward versus other age groups, logically, but was perhaps less than anticipated due to Medicare coverage. Cash contributions reflected a strong pattern of generosity and gifting within this age cohort, and transportation remained expensive (including gas, insurance and repairs) even though older Americans reported less driving frequency. More From GOBankingRates 3 Luxury SUVs That Will Have Massive Price Drops in Summer 2025 I'm a Retired Boomer: 6 Bills I Canceled This Year That Were a Waste of Money Are You Rich or Middle Class? 8 Ways To Tell That Go Beyond Your Paycheck This article originally appeared on I Asked ChatGPT How Much the Average Middle-Class Retiree Spends Monthly at Age 75: Here's What It Said 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
