Trump tariffs live updates: EU readies its reprisals as Trump pushes for higher tariffs
EU member states are pushing for new and stringent measures to retaliate against US companies, The Wall Street Journal reported, while its officials are meeting this week to draw up a plan for reprisals, per Bloomberg.
'If they want war, they will get war,' a German official told the WSJ, while noting there was still time to hammer out a deal.
Trump is reportedly pushing for higher blanket tariffs on imports from the EU, throwing a wrench in negotiations ahead of an Aug. 1 deadline for sweeping duties to take effect.
The Financial Times reported that Trump wants a minimum of a 15% to 20% tariff on EU goods as part of any deal. Trump has threatened the bloc with 30% duties beginning Aug. 1. That is the date he is also set to impose tariffs on an array of other trading partners, as well as potential sectoral levies on copper, pharmaceuticals, and semiconductors.
Trump said last week he would soon send letters to over 150 smaller US trade partners, setting blanket tariff rates for that large group.
Trump has already sent letters to over 20 trade partners outlining tariffs on goods imported from their countries. The letters set new baseline tariff levels at 20% to 40% — except for a 50% levy on goods from Brazil in a move that waded into the country's domestic politics.
On July 10, Trump announced a 35% tariff on Canadian goods and followed that up with promises of 30% duties on Mexico and the EU. The letters have at times upended months of careful negotiations, with Trump saying he is both open to reaching different deals but also touting his letters as "the deals" themselves.
Looking ahead to the holiday season, some retailers are struggling to prepare, not knowing whether products like toys and artificial Christmas trees might be available to import, and what the tariffs might be on a given country.
Read more: What Trump's tariffs mean for the economy and your wallet
Here are the latest updates as the policy reverberates around the world.
Stellantis warns of $2.7B loss as tariffs bite
Big Three automaker Stellantis (STLA) warned on Monday that it expects a 2.3 billion euro ($2.7 billion) net loss for the first half of 2025, hit by restructuring costs, ebbing sales, and an initial hit from US tariffs.
The Chrysler maker's US-listed shares slipped nearly 2% in premarket, mirroring a drop in its stock in Milan.
Reuters reports:
Read more here.
EU to prepare its retaliation plan as US hardens its stance on trade talks
EU negotiators are scrambling to make a trade agreement with the US as the Aug. 1 tariff deadline closes in. But they are also stepping up preparations to strike back if the two sides fail to secure a deal.
Bloomberg reports:
Read more here.
Lutnick 'confident' US will get tariffs deal done with EU before Aug. 1 deadline
WASHINGTON (Reuters) -U.S. Commerce Secretary Howard Lutnick said on Sunday he was confident the United States can secure a trade deal with the European Union, but August 1 is a hard deadline for tariffs to kick in.
Lutnick said he had just gotten off the phone with European trade negotiators and there was "plenty of room" for agreement.
"These are the two biggest trading partners in the world, talking to each other. We'll get a deal done. I am confident we'll get a deal done," Lutnick said in an interview with CBS' "Face the Nation."
President Donald Trump threatened on July 12 to impose a 30% tariff on imports from Mexico and the European Union starting on August 1, after weeks of negotiations with the major U.S. trading partners failed to reach a comprehensive trade deal.
Lutnick said that was a hard deadline.
"Nothing stops countries from talking to us after August 1, but they're going to start paying the tariffs on August 1," he said on CBS.
Read more here
Trump's tariffs are already shaping the holiday shopping season
NEW YORK (AP) — With summer in full swing in the United States, retail executives are sweating a different season. It's less than 22 weeks before Christmas, a time when businesses that make and sell consumer goods usually nail down their holiday orders and prices.
But President Donald Trump's vacillating trade policies have complicated those end-of-year plans. Balsam Hill, which sells artificial trees and other decorations online, expects to publish fewer and thinner holiday catalogs because the featured products keep changing with the tariff rates the president sets, postpones and revises.
'The uncertainty has led us to spend all our time trying to rejigger what we're ordering, where we're bringing it in, when it's going to get here,' Mac Harman, CEO of Balsam Hill parent company Balsam Brands, said. 'We don't know which items we're going to have to put in the catalog or not."
Months of confusion over which foreign countries' goods may become more expensive to import has left a question mark over the holiday shopping season. U.S. retailers often begin planning for the winter holidays in January and typically finalize the bulk of their orders by the end of June. The seesawing tariffs already have factored into their calculations.
Read more here
Hawaii coffee growers say Trump tariffs may curb demand
(Bloomberg) — Hawaiian coffee farmers have a message for President Donald Trump: Steep tariffs on major exporters such as Brazil will end up hurting them, too.
Hawaii at first glance might seem the obvious beneficiary of tariffs on coffee. It is the only state in the country where the tropical goods grow, with the vast majority of java imbibed by Americans imported from South America and Vietnam. Higher priced foreign imports should, in theory, make the island state's products comparatively more affordable.
But growers say the opposite is true: rising prices across the board will hit consumers already struggling with inflation, curbing demand on everything from popular everyday roasts available at grocery stores to luxury Kona beans.
While the discourse around trade and Trump's 'Buy American' mantra could draw attention to Hawaiian goods, the upshot for the state's farmers is that 'tariffs will probably will hurt us as much as it would hurt the mainland roasters,' said Suzanne Shriner, the vice president of the Kona Coffee Farmers Association and the president of Lions Gate Farms.
Read more here
Trump pushes for 15%-20% minimum tariff on all EU goods
President Trump appears to have settled on a tariff rate on all EU member countries, according to reports.
Financial Times reports:
Read more (subscription required).
Battery materials stocks jump after US lays out 93.5% graphite duty
Bloomberg reports:
Stocks of battery material makers climbed after the US announced it would impose preliminary anti-dumping duties of 93.5% on graphite imports from China.
Shares of Australian graphite miner Syrah Resources Ltd. (SYAAF) surged as much as 38%, while shares of South Korea's Posco Future M Co. (003670.KS) climbed 24%. Novonix Ltd. (NVNXF), an Australian-listed company with a graphite production plant in Chattanooga, Tennessee, surged 21%. Gains in these and other Asian stocks tracked earlier jumps in Canadian peers including Nouveau Monde Graphite Inc. (NMG)
The Commerce Department issued the preliminary determination Thursday, and a final plan should be announced by Dec. 5. The US determined that China, which dominates the processing capacity of graphite, had been unfairly subsidizing the industry.
Graphite is a key raw material in the anodes of electric-vehicle batteries. About two-thirds of the material imported by the US still came from China last year.
Read more here.
China: Trade talks show there's no need for tariff war
Reuters reports:
Read more here.
US set to impose 93.5% tariff on key battery material from China
Bloomberg reports that the Commerce Department imposed preliminary anti-dumping duties of 93.5% on Chinese imports of graphite, a key battery component, after concluding the materials had been unfairly subsidized.
From Bloomberg:
Read more here.
Trump Tariff added $115M in aluminum costs for largest US producer
The largest producer of aluminum in the US, Alcoa Corp., claims that tariffs cost it $115 million in Q2.
Bloomberg reports:
Alcoa Corp., the largest US aluminum producer, said tariffs on imports from Canada cost it $115 million in the second quarter, showing how US President Donald Trump's trade agenda has affected the industry.
The company redirected Canadian produced aluminum to customers outside the US to mitigate additional tariff costs, it said Wednesday while reporting earnings that beat analyst estimates.
Alcoa shares rose as much as 6.4% Thursday in New York, the biggest intraday increase since June 26.
Metal producers are navigating the trade tumult Trump created after raising import tariffs on steel and aluminum, first to 25% in March and then to 50% in June, in an effort to revive domestic production.
Alcoa's latest toll from tariffs is about six times more than in the first quarter when the Pittsburgh-based firm said the levies, which were then 25%, had cost it an additional $20 million. Mining giant Rio Tinto Group also revealed Wednesday that its Canada-made aluminum generated costs of more than $300 million in the first half due to the tariffs.
Read more here.
Nordic finance heads urge EU to stand firm in US trade talks
Financial leaders in European Union member countries are clearly telling their peers to hold their ground and act fast in trade talks with the US.
Bloomberg reports:
Read more here.
EU lines up tariffs on US digital services as retaliation: Sources
The European Commission is drawing up a list of measures against US services as part of its potential response to President Trump's 30% levies due to kick in on Aug. 1, sources told the Financial Times.
The FT reports:
Read more here.
EU stalls probe into Musk's X amid US trade talks
The EU seems to be treading carefully during negotiations to avoid a 30% tariff it sees as "prohibitive" to transatlantic trade.
The Financial Times reports:
Read more here.
Volvo CEO wants EU to cut 'unnecessary' auto tariffs
Reuters reports:
Read more here.
Trump eyes tariffs of 10% or 15% for the 150+ countries, muses on EU deal
President Trump said the tariff rate could be 10% or 15% for the more than 150 countries he has promised will get a notification letter soon.
Bloomberg reports:
Read more here.
Trump says he'll soon send letters to 150 countries, will 'live by the letter' on Japan
President Trump on Wednesday said he'd soon send letters to over 150 countries that are smaller trade partners with the US, dictating tariff rates their goods will face coming into the US.
He also said he would "live by the letter" with Japan — his letter last week had outlined a 25% tariff on Japanese imports — and hinted at a possible deal with India soon.
From Bloomberg:
And Reuters:
Canada announces new tariff measures on non-US imported steel to protect domestic industry
Reuters reports:
Read more here.
Striking trade deal with US was an 'extraordinary struggle,' Indonesia says
Nearly 24 hours after President Trump announced a trade agreement with Indonesia on Tuesday, Indonesia's government confirmed the deal, saying that the talks were an "extraordinary struggle."
A government spokesperson said Indonesia's President Prabowo Subianto negotiated the deal directly with Trump over the phone.
'This is an extraordinary struggle by our negotiating team led by the Coordinating Minister for Economic Affairs,' Hasan Nasbi, the Indonesian president's spokesperson, told Reuters.
Trump stated that the agreement calls for the US to impose a 19% tariff on Indonesia's exports, whereas Indonesia would not charge any tariffs on American exports. Trump also said Indonesia committed to buying '$15 Billion Dollars in U.S. Energy, $4.5 Billion Dollars in American Agricultural Products, and 50 Boeing Jets, many of them 777's.'
Read more here.
France adds support for using most-potent trade tool on US
France has reportedly joined fellow European Union members in deciding to respond more directly to looming tariff threats. If activated, the EU would take retaliatory action against the US in trade activity.
Bloomberg reports:
Read more here.
Rio Tinto: Tariffs added $300 million in aluminum costs
Bloomberg reports:
Read more here.
Stellantis warns of $2.7B loss as tariffs bite
Big Three automaker Stellantis (STLA) warned on Monday that it expects a 2.3 billion euro ($2.7 billion) net loss for the first half of 2025, hit by restructuring costs, ebbing sales, and an initial hit from US tariffs.
The Chrysler maker's US-listed shares slipped nearly 2% in premarket, mirroring a drop in its stock in Milan.
Reuters reports:
Read more here.
Big Three automaker Stellantis (STLA) warned on Monday that it expects a 2.3 billion euro ($2.7 billion) net loss for the first half of 2025, hit by restructuring costs, ebbing sales, and an initial hit from US tariffs.
The Chrysler maker's US-listed shares slipped nearly 2% in premarket, mirroring a drop in its stock in Milan.
Reuters reports:
Read more here.
EU to prepare its retaliation plan as US hardens its stance on trade talks
EU negotiators are scrambling to make a trade agreement with the US as the Aug. 1 tariff deadline closes in. But they are also stepping up preparations to strike back if the two sides fail to secure a deal.
Bloomberg reports:
Read more here.
EU negotiators are scrambling to make a trade agreement with the US as the Aug. 1 tariff deadline closes in. But they are also stepping up preparations to strike back if the two sides fail to secure a deal.
Bloomberg reports:
Read more here.
Lutnick 'confident' US will get tariffs deal done with EU before Aug. 1 deadline
WASHINGTON (Reuters) -U.S. Commerce Secretary Howard Lutnick said on Sunday he was confident the United States can secure a trade deal with the European Union, but August 1 is a hard deadline for tariffs to kick in.
Lutnick said he had just gotten off the phone with European trade negotiators and there was "plenty of room" for agreement.
"These are the two biggest trading partners in the world, talking to each other. We'll get a deal done. I am confident we'll get a deal done," Lutnick said in an interview with CBS' "Face the Nation."
President Donald Trump threatened on July 12 to impose a 30% tariff on imports from Mexico and the European Union starting on August 1, after weeks of negotiations with the major U.S. trading partners failed to reach a comprehensive trade deal.
Lutnick said that was a hard deadline.
"Nothing stops countries from talking to us after August 1, but they're going to start paying the tariffs on August 1," he said on CBS.
Read more here
WASHINGTON (Reuters) -U.S. Commerce Secretary Howard Lutnick said on Sunday he was confident the United States can secure a trade deal with the European Union, but August 1 is a hard deadline for tariffs to kick in.
Lutnick said he had just gotten off the phone with European trade negotiators and there was "plenty of room" for agreement.
"These are the two biggest trading partners in the world, talking to each other. We'll get a deal done. I am confident we'll get a deal done," Lutnick said in an interview with CBS' "Face the Nation."
President Donald Trump threatened on July 12 to impose a 30% tariff on imports from Mexico and the European Union starting on August 1, after weeks of negotiations with the major U.S. trading partners failed to reach a comprehensive trade deal.
Lutnick said that was a hard deadline.
"Nothing stops countries from talking to us after August 1, but they're going to start paying the tariffs on August 1," he said on CBS.
Read more here
Trump's tariffs are already shaping the holiday shopping season
NEW YORK (AP) — With summer in full swing in the United States, retail executives are sweating a different season. It's less than 22 weeks before Christmas, a time when businesses that make and sell consumer goods usually nail down their holiday orders and prices.
But President Donald Trump's vacillating trade policies have complicated those end-of-year plans. Balsam Hill, which sells artificial trees and other decorations online, expects to publish fewer and thinner holiday catalogs because the featured products keep changing with the tariff rates the president sets, postpones and revises.
'The uncertainty has led us to spend all our time trying to rejigger what we're ordering, where we're bringing it in, when it's going to get here,' Mac Harman, CEO of Balsam Hill parent company Balsam Brands, said. 'We don't know which items we're going to have to put in the catalog or not."
Months of confusion over which foreign countries' goods may become more expensive to import has left a question mark over the holiday shopping season. U.S. retailers often begin planning for the winter holidays in January and typically finalize the bulk of their orders by the end of June. The seesawing tariffs already have factored into their calculations.
Read more here
NEW YORK (AP) — With summer in full swing in the United States, retail executives are sweating a different season. It's less than 22 weeks before Christmas, a time when businesses that make and sell consumer goods usually nail down their holiday orders and prices.
But President Donald Trump's vacillating trade policies have complicated those end-of-year plans. Balsam Hill, which sells artificial trees and other decorations online, expects to publish fewer and thinner holiday catalogs because the featured products keep changing with the tariff rates the president sets, postpones and revises.
'The uncertainty has led us to spend all our time trying to rejigger what we're ordering, where we're bringing it in, when it's going to get here,' Mac Harman, CEO of Balsam Hill parent company Balsam Brands, said. 'We don't know which items we're going to have to put in the catalog or not."
Months of confusion over which foreign countries' goods may become more expensive to import has left a question mark over the holiday shopping season. U.S. retailers often begin planning for the winter holidays in January and typically finalize the bulk of their orders by the end of June. The seesawing tariffs already have factored into their calculations.
Read more here
Hawaii coffee growers say Trump tariffs may curb demand
(Bloomberg) — Hawaiian coffee farmers have a message for President Donald Trump: Steep tariffs on major exporters such as Brazil will end up hurting them, too.
Hawaii at first glance might seem the obvious beneficiary of tariffs on coffee. It is the only state in the country where the tropical goods grow, with the vast majority of java imbibed by Americans imported from South America and Vietnam. Higher priced foreign imports should, in theory, make the island state's products comparatively more affordable.
But growers say the opposite is true: rising prices across the board will hit consumers already struggling with inflation, curbing demand on everything from popular everyday roasts available at grocery stores to luxury Kona beans.
While the discourse around trade and Trump's 'Buy American' mantra could draw attention to Hawaiian goods, the upshot for the state's farmers is that 'tariffs will probably will hurt us as much as it would hurt the mainland roasters,' said Suzanne Shriner, the vice president of the Kona Coffee Farmers Association and the president of Lions Gate Farms.
Read more here
(Bloomberg) — Hawaiian coffee farmers have a message for President Donald Trump: Steep tariffs on major exporters such as Brazil will end up hurting them, too.
Hawaii at first glance might seem the obvious beneficiary of tariffs on coffee. It is the only state in the country where the tropical goods grow, with the vast majority of java imbibed by Americans imported from South America and Vietnam. Higher priced foreign imports should, in theory, make the island state's products comparatively more affordable.
But growers say the opposite is true: rising prices across the board will hit consumers already struggling with inflation, curbing demand on everything from popular everyday roasts available at grocery stores to luxury Kona beans.
While the discourse around trade and Trump's 'Buy American' mantra could draw attention to Hawaiian goods, the upshot for the state's farmers is that 'tariffs will probably will hurt us as much as it would hurt the mainland roasters,' said Suzanne Shriner, the vice president of the Kona Coffee Farmers Association and the president of Lions Gate Farms.
Read more here
Trump pushes for 15%-20% minimum tariff on all EU goods
President Trump appears to have settled on a tariff rate on all EU member countries, according to reports.
Financial Times reports:
Read more (subscription required).
President Trump appears to have settled on a tariff rate on all EU member countries, according to reports.
Financial Times reports:
Read more (subscription required).
Battery materials stocks jump after US lays out 93.5% graphite duty
Bloomberg reports:
Stocks of battery material makers climbed after the US announced it would impose preliminary anti-dumping duties of 93.5% on graphite imports from China.
Shares of Australian graphite miner Syrah Resources Ltd. (SYAAF) surged as much as 38%, while shares of South Korea's Posco Future M Co. (003670.KS) climbed 24%. Novonix Ltd. (NVNXF), an Australian-listed company with a graphite production plant in Chattanooga, Tennessee, surged 21%. Gains in these and other Asian stocks tracked earlier jumps in Canadian peers including Nouveau Monde Graphite Inc. (NMG)
The Commerce Department issued the preliminary determination Thursday, and a final plan should be announced by Dec. 5. The US determined that China, which dominates the processing capacity of graphite, had been unfairly subsidizing the industry.
Graphite is a key raw material in the anodes of electric-vehicle batteries. About two-thirds of the material imported by the US still came from China last year.
Read more here.
Bloomberg reports:
Stocks of battery material makers climbed after the US announced it would impose preliminary anti-dumping duties of 93.5% on graphite imports from China.
Shares of Australian graphite miner Syrah Resources Ltd. (SYAAF) surged as much as 38%, while shares of South Korea's Posco Future M Co. (003670.KS) climbed 24%. Novonix Ltd. (NVNXF), an Australian-listed company with a graphite production plant in Chattanooga, Tennessee, surged 21%. Gains in these and other Asian stocks tracked earlier jumps in Canadian peers including Nouveau Monde Graphite Inc. (NMG)
The Commerce Department issued the preliminary determination Thursday, and a final plan should be announced by Dec. 5. The US determined that China, which dominates the processing capacity of graphite, had been unfairly subsidizing the industry.
Graphite is a key raw material in the anodes of electric-vehicle batteries. About two-thirds of the material imported by the US still came from China last year.
Read more here.
China: Trade talks show there's no need for tariff war
Reuters reports:
Read more here.
Reuters reports:
Read more here.
US set to impose 93.5% tariff on key battery material from China
Bloomberg reports that the Commerce Department imposed preliminary anti-dumping duties of 93.5% on Chinese imports of graphite, a key battery component, after concluding the materials had been unfairly subsidized.
From Bloomberg:
Read more here.
Bloomberg reports that the Commerce Department imposed preliminary anti-dumping duties of 93.5% on Chinese imports of graphite, a key battery component, after concluding the materials had been unfairly subsidized.
From Bloomberg:
Read more here.
Trump Tariff added $115M in aluminum costs for largest US producer
The largest producer of aluminum in the US, Alcoa Corp., claims that tariffs cost it $115 million in Q2.
Bloomberg reports:
Alcoa Corp., the largest US aluminum producer, said tariffs on imports from Canada cost it $115 million in the second quarter, showing how US President Donald Trump's trade agenda has affected the industry.
The company redirected Canadian produced aluminum to customers outside the US to mitigate additional tariff costs, it said Wednesday while reporting earnings that beat analyst estimates.
Alcoa shares rose as much as 6.4% Thursday in New York, the biggest intraday increase since June 26.
Metal producers are navigating the trade tumult Trump created after raising import tariffs on steel and aluminum, first to 25% in March and then to 50% in June, in an effort to revive domestic production.
Alcoa's latest toll from tariffs is about six times more than in the first quarter when the Pittsburgh-based firm said the levies, which were then 25%, had cost it an additional $20 million. Mining giant Rio Tinto Group also revealed Wednesday that its Canada-made aluminum generated costs of more than $300 million in the first half due to the tariffs.
Read more here.
The largest producer of aluminum in the US, Alcoa Corp., claims that tariffs cost it $115 million in Q2.
Bloomberg reports:
Alcoa Corp., the largest US aluminum producer, said tariffs on imports from Canada cost it $115 million in the second quarter, showing how US President Donald Trump's trade agenda has affected the industry.
The company redirected Canadian produced aluminum to customers outside the US to mitigate additional tariff costs, it said Wednesday while reporting earnings that beat analyst estimates.
Alcoa shares rose as much as 6.4% Thursday in New York, the biggest intraday increase since June 26.
Metal producers are navigating the trade tumult Trump created after raising import tariffs on steel and aluminum, first to 25% in March and then to 50% in June, in an effort to revive domestic production.
Alcoa's latest toll from tariffs is about six times more than in the first quarter when the Pittsburgh-based firm said the levies, which were then 25%, had cost it an additional $20 million. Mining giant Rio Tinto Group also revealed Wednesday that its Canada-made aluminum generated costs of more than $300 million in the first half due to the tariffs.
Read more here.
Nordic finance heads urge EU to stand firm in US trade talks
Financial leaders in European Union member countries are clearly telling their peers to hold their ground and act fast in trade talks with the US.
Bloomberg reports:
Read more here.
Financial leaders in European Union member countries are clearly telling their peers to hold their ground and act fast in trade talks with the US.
Bloomberg reports:
Read more here.
EU lines up tariffs on US digital services as retaliation: Sources
The European Commission is drawing up a list of measures against US services as part of its potential response to President Trump's 30% levies due to kick in on Aug. 1, sources told the Financial Times.
The FT reports:
Read more here.
The European Commission is drawing up a list of measures against US services as part of its potential response to President Trump's 30% levies due to kick in on Aug. 1, sources told the Financial Times.
The FT reports:
Read more here.
EU stalls probe into Musk's X amid US trade talks
The EU seems to be treading carefully during negotiations to avoid a 30% tariff it sees as "prohibitive" to transatlantic trade.
The Financial Times reports:
Read more here.
The EU seems to be treading carefully during negotiations to avoid a 30% tariff it sees as "prohibitive" to transatlantic trade.
The Financial Times reports:
Read more here.
Volvo CEO wants EU to cut 'unnecessary' auto tariffs
Reuters reports:
Read more here.
Reuters reports:
Read more here.
Trump eyes tariffs of 10% or 15% for the 150+ countries, muses on EU deal
President Trump said the tariff rate could be 10% or 15% for the more than 150 countries he has promised will get a notification letter soon.
Bloomberg reports:
Read more here.
President Trump said the tariff rate could be 10% or 15% for the more than 150 countries he has promised will get a notification letter soon.
Bloomberg reports:
Read more here.
Trump says he'll soon send letters to 150 countries, will 'live by the letter' on Japan
President Trump on Wednesday said he'd soon send letters to over 150 countries that are smaller trade partners with the US, dictating tariff rates their goods will face coming into the US.
He also said he would "live by the letter" with Japan — his letter last week had outlined a 25% tariff on Japanese imports — and hinted at a possible deal with India soon.
From Bloomberg:
And Reuters:
President Trump on Wednesday said he'd soon send letters to over 150 countries that are smaller trade partners with the US, dictating tariff rates their goods will face coming into the US.
He also said he would "live by the letter" with Japan — his letter last week had outlined a 25% tariff on Japanese imports — and hinted at a possible deal with India soon.
From Bloomberg:
And Reuters:
Canada announces new tariff measures on non-US imported steel to protect domestic industry
Reuters reports:
Read more here.
Reuters reports:
Read more here.
Striking trade deal with US was an 'extraordinary struggle,' Indonesia says
Nearly 24 hours after President Trump announced a trade agreement with Indonesia on Tuesday, Indonesia's government confirmed the deal, saying that the talks were an "extraordinary struggle."
A government spokesperson said Indonesia's President Prabowo Subianto negotiated the deal directly with Trump over the phone.
'This is an extraordinary struggle by our negotiating team led by the Coordinating Minister for Economic Affairs,' Hasan Nasbi, the Indonesian president's spokesperson, told Reuters.
Trump stated that the agreement calls for the US to impose a 19% tariff on Indonesia's exports, whereas Indonesia would not charge any tariffs on American exports. Trump also said Indonesia committed to buying '$15 Billion Dollars in U.S. Energy, $4.5 Billion Dollars in American Agricultural Products, and 50 Boeing Jets, many of them 777's.'
Read more here.
Nearly 24 hours after President Trump announced a trade agreement with Indonesia on Tuesday, Indonesia's government confirmed the deal, saying that the talks were an "extraordinary struggle."
A government spokesperson said Indonesia's President Prabowo Subianto negotiated the deal directly with Trump over the phone.
'This is an extraordinary struggle by our negotiating team led by the Coordinating Minister for Economic Affairs,' Hasan Nasbi, the Indonesian president's spokesperson, told Reuters.
Trump stated that the agreement calls for the US to impose a 19% tariff on Indonesia's exports, whereas Indonesia would not charge any tariffs on American exports. Trump also said Indonesia committed to buying '$15 Billion Dollars in U.S. Energy, $4.5 Billion Dollars in American Agricultural Products, and 50 Boeing Jets, many of them 777's.'
Read more here.
France adds support for using most-potent trade tool on US
France has reportedly joined fellow European Union members in deciding to respond more directly to looming tariff threats. If activated, the EU would take retaliatory action against the US in trade activity.
Bloomberg reports:
Read more here.
France has reportedly joined fellow European Union members in deciding to respond more directly to looming tariff threats. If activated, the EU would take retaliatory action against the US in trade activity.
Bloomberg reports:
Read more here.
Rio Tinto: Tariffs added $300 million in aluminum costs
Bloomberg reports:
Read more here.
Bloomberg reports:
Read more here.
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- Yahoo
Congressional Candidate, 27, Forcibly Removed from Hearing and Arrested After Criticizing Texas Republicans: 'I'm Not Finished!'
Isaiah Martin, who spent a day in jail, later confirmed the charges were dropped and said he'd 'do it again for the people of Texas" A congressional candidate was forcibly removed from a hearing at the Texas State Capitol and arrested this week, after going over an apparent two-minute time limit to speak as he delivered a statement in opposition to Texas Republicans' redistricting efforts. Congressional District 18 candidate Isaiah Martin, 27, attended a hearing held by the Texas House Congressional Redistricting Committee on Thursday, July 24, when he offered his thoughts on the redistricting efforts in question, calling it 'illegal gerrymandering." According to Austin ABC affiliate KVUE, Gov. Greg Abbott added discussion of a proposed redrawing of congressional districts to the agenda following pressure from the Trump administration. Per The Hill, the redrawing of the state's maps could give the GOP an advantage in the 2026 midterms, as KVUE reported the state's constitution allows the maps to be redrawn at the discretion of both the governor and the Legislature — although it is rare to be done mid-decade. "Many of you that are Republicans, and I'm looking at you, you understand the game. You gotta get Trump's endorsement," Martin said at the beginning of his remarks, before his arrest. "That's the name of the game to be a Republican nowadays. And you know very clearly that Trump told every single one of you that he needs five seats." After he continued past an apparent allotted two-minute speaking time, Rep. Cody Vasut asked the sergeant-at-arms to remove Martin from the hearing. Footage from the scene, which was later shared by Martin's campaign on X, shows the candidate telling Republicans they have "no shame" as his microphone is removed from him. Martin then told the committee that "history might not remember you at all," as two men began to pull him out of the state capitol — with one man appearing to restrain Martin by lying on top of him. The Texas Department of Public Safety (DPS) later confirmed, per KVUE and CBS Austin, that Martin was charged with disrupting a meeting, resisting arrest and criminal trespassing. His arrest took place around 7 p.m. local time, and he was later booked in Travis County Jail. His charges were dropped, per CBS Austin and an update that was shared on Martin's social media. A DPS spokesperson told KVUE that the arrest took place after Martin "refused to obey requests from committee members and subsequent orders from DPS to leave a committee hearing at the Texas State Capitol." The DPS did not immediately respond to PEOPLE's request for confirmation on July 25. Per KVUE, Martin spent over 24 hours in jail. Martin's brother confirmed in a statement on X that "all charges" against him had been dropped, before Martin shared in a message of his own hours later that he was put in custody for a day because Republicans "were mad I had the AUDACITY to call them cowards to their faces." "They did this because I had the audacity to speak up, and you know what? I'm gonna continue to have that audacity," he said. "Because strongly worded letters won't get us out of this mess. It takes speaking truth to power no matter what the consequences are." Speaking with CBS Austin following his release, Martin reiterated that he would "do it again for the people of Texas." Read the original article on People


Washington Post
24 minutes ago
- Washington Post
Musk sought to stoke the Trump-Epstein scandal. Mission accomplished.
One person stands vindicated as the enduring fallout of the Jeffrey Epstein scandal haunts President Trump this month: his former adviser and friend Elon Musk. During the public implosion of his alliance with the president in early June, Musk claimed that Trump was refusing to release files related to the Epstein investigation because the president was named in the documents. White House press secretary Karoline Leavitt dismissed the claim as an 'unfortunate episode,' suggesting that Musk's outburst stemmed from frustration with the adverse effects Trump's tax legislation would have on his businesses.