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Mint
an hour ago
- Mint
Trump secures trade deal with EU, slashes tariffs to 15%; lands $750 billion energy deal and $600 billion investment
The United States and the European Union have reached a last-minute trade agreement that will impose a 15% tariff on EU goods entering the US, replacing the previously threatened 30% rate. The deal, reached just ahead of the August 1 deadline, was announced by President Donald Trump and European Commission President Ursula von der Leyen after a high-stakes meeting at Trump's Turnberry golf resort in Scotland. 'It was a very interesting negotiation. I think it's going to be great for both parties,' Trump said. President Trump noted the long-standing friction in trade relations between the US and Europe, saying: "We've had a hard time with trade with Europe, a very hard time.' 'I think the main sticking point is fairness.' Under the deal, the US will impose a baseline 15% tariff on EU exports — the same level Japan recently agreed to — including autos, which were previously taxed at 25%. 'We are agreeing that the tariff straight across, for automobiles and everything else, will be a straight across tariff of 15 percent," Trump confirmed. As part of the agreement, the EU has committed to purchasing $750 billion worth of US energy and investing $600 billion more into the American economy. Trump called the outcome 'a good deal for everybody,' while von der Leyen added: 'It will bring stability. It will bring predictability. That's very important for our businesses on both sides of the Atlantic.' The agreement reportedly mirrors the recent .S-Japan deal announced earlier in the week, which also featured a 15% import duty and avoided previously threatened higher tariffs. US Commerce Secretary Howard Lutnick emphasised the urgency to push both sides to reach a consensus: 'No extensions, no more grace periods. August 1, the tariffs are set, they'll go into place, Customs will start collecting the money and off we go.' With EU trade deal sealed, six countries including — Britain, Vietnam, Indonesia, the Philippines, and Japan — have reached agreements with the Trump administration ahead of the upcoming Friday deadline, as the US moves to reshape the global free trade framework by imposing tariffs on nations it accuses of unfair trade practices. While the tariffs agreed upon by these countries are generally higher than the 10 percent base rate the US has applied to most nations since April, they remain significantly lower than the steep rates the Trump administration had threatened if no deals were secured.
Hindustan Times
2 hours ago
- Hindustan Times
‘Trump cheating at golf': Massive claim emerges amid Scotland trip; caddie video draws attention
A video of President Donald Trump playing golf during his Scotland trip has gone viral. The clip, showing the 79-year-old's caddie allegedly tossing a ball into the light rough near a bunker, has sparked a 'cheating' row. Now, several social media users claim that Trump was 'cheating at golf' - a sport he loves. US President Donald Trump waves from a golf cart at the Trump Turnberry golf course in Turnberry, Scotland(Bloomberg) Neither Trump nor the White House have responded to the renewed 'cheating' allegations yet. 'Trump caught cheating at golf, watch the second guy in the red vest toss a ball behind him,' one person wrote on X, platform formerly known as Twitter. Read More: Trump says US will work with Thailand and Cambodia, adds both 'want to settle' 'Watch his caddy drop the ball in a more favorable location for him. First he cheated on his wife with children, and now he's cheating at golf. What low will he not stoop to?' another person tweeted. The two X users posted videos of the alleged 'cheating' incident. The video, recorded during Trump's Saturday round, shows him arriving at a bunker in a cart, followed by a caddie dropping a ball just short of the sand trap. Trump then approaches and hits from the new position, prompting accusations of 'cheating'. This echoes past allegations, including claims from Rick Reilly's book Commander in Cheat, which details the president's alleged habit of manipulating shots. President Trump's Scotland trip, with scheduled talks with EU and UK leaders, has drawn criticism. Several Democrats noted that the 79-year-old is spending most of his time at Turnberry and his Aberdeen course. Rick Reilly, who has played with the president, spoke to The Spun about Trump's golf habits - including taking unearned chip-ins and claiming he 'cannot lose' and will 'do anything to cheat'. Read More: Donald Trump says Israel will have to 'make a decision' on next steps in Gaza Trump strikes EU deal The US and European Union agreed on a landmark deal that will see the bloc face 15% tariffs on most of its exports, including automobiles. This comes less than a week before the deadline for Trump's higher tariffs to take effect. Trump and European Commission President Ursula von der Leyen announced the deal Sunday at his golf club in Turnberry, Scotland, although they didn't disclose the full details.
India.com
2 hours ago
- India.com
No Entry For GM Crops, Says New Delhi; India-US Trade Talks Hit A Sacred Wall
New Delhi: Genetically modified (GM) crops will not be crossing India's borders anytime soon, no matter how urgently the United States knocks. As trade negotiations between New Delhi and Washington enter a crucial phase, insiders say one red line is not up for discussion. 'There are things that are not about negotiation. Some things are a matter of principle,' said a senior official close to the development. That principle, sources say, is GM corn and soy. While American negotiators have made agricultural access a central demand, pressing India for a wider entry gate for U.S. farm goods, New Delhi is not blinking, especially on GM imports. Over the years, the issue has mutated from a mere trade disagreement into a symbolic fight over sovereignty, food safety and grassroots politics. The United States Trade Representative (USTR) has repeatedly flagged India's restrictions on GM products, calling them 'non-tariff barriers'. But Indian authorities remain unmoved, largely because of the hardline stance taken by domestic groups closely aligned with the ruling establishment. Last month, the message from Sangh affiliates was if America insists on forcing GM crops into the Indian market, there may be no trade deal at all. Carried in Business Standard, that warning echoed the sentiments of influential groups such as the Bharatiya Kisan Sangh (BKS) and the Swadeshi Jagran Manch (SJM), which have long opposed agricultural concessions to Washington, particularly in sectors like dairy and GM crops. Their argument? Food security. The BKS has often warned that allowing U.S. crops into India, especially without clear labelling or transparency, could sabotage domestic farming ecosystems and compromise health safety standards. On the other hand, the SJM sees this as a direct attack on economic self-reliance. Meanwhile, the clock is ticking. U.S. officials have privately hinted at the urgency of the moment, pointing to a deadline set by President Donald Trump, who is seeking a revival of his trade agenda. Trump has marked August 1 as a red-letter day. If no interim deal is inked by then, India could be hit with reciprocal tariffs, potentially as high as 26 percent. Indian trade negotiators are not indifferent to that pressure. But according to officials involved in the process, the sixth round of talks will only happen in the second half of August after Trump's deadline expires. Any hope for a short-term resolution seems, at best, unrealistic. As one official put it, 'We are not looking at compromise in areas that touch the lives of millions.' In other words, GM corn is off the table. And perhaps, so is the deal, at least for now.
