Russian Air Attack Targets Western Ukraine Near Romanian Border
The attack — including on areas that have seen few if any strikes in the war to date — left at least two people dead and damaged residential houses and other civilian infrastructure.
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Associated Press
3 minutes ago
- Associated Press
Cargo surge amid tariff turmoil drives the Port of Savannah to its 2nd busiest year
SAVANNAH, Ga. (AP) — Retailers scrambling to stock up ahead of anticipated stiff tariffs on imports boosted the Port of Savannah, one of the top U.S. container ports, to its second-busiest year ever, Georgia officials said Tuesday. The Savannah port moved 5.7 million container units of imports and exports across its docks in the 2025 fiscal year that ended June 30, the Georgia Ports Authority reported. That's an increase of 8.6% over the prior fiscal year and just shy of the record 5.76 million container units Savannah handled in fiscal 2022. The growth was caused in part by a surge in cargo since President Donald Trump returned to office in January promising heavy tariffs on China and other U.S. trading partners. But double-digit increases Savannah saw during the spring months were followed by a sizable drop in June container volumes as Trump's on-again, off-again tactics continued to fuel uncertainty. 'It's just going to be this very up-and-down time until things get settled,' said Georgia Ports Authority CEO Griff Lynch, who praised Trump's trade deal with the European Union as a step toward restoring stability. 'I'm sure all of it will come together. It's just a matter of timing.' The Port of Savannah is the nation's No. 4 seaport for cargo shipped in containers, giant metal boxes used to transport goods ranging from consumer electronics to frozen chickens by ship, rail and truck. Uncertainty surrounding Trump's tariff policies has resulted in gains, at least in the short term, at other major U.S. ports. A 90-day pause the Republican president placed on new tariffs announced in April gave American retailers and manufacturers a window to build up inventories ahead of new price hikes. What happens to trade volumes in the coming months may depend on a big deadline Friday, when dozens of countries face increased tariffs on goods shipped to the U.S. if they don't reach a deal with the White House. The Port of Los Angeles, the top U.S. container port, reported its busiest June ever to close out fiscal 2025 with 10.5 million container units handled — a 14% increase over the previous year. At the Port of New York and New Jersey, the biggest East Coast port, container volumes from January through May were up 6.5% compared to the same period last year. Gene Seroka, executive director of the Port of Los Angeles, told reporters earlier this month that Trump's tactics have created a 'whipsaw effect' as shipping volumes slow down with new tariff announcements, then surge suddenly to take advantage of delayed tariff start dates. The National Retail Federation is forecasting that cargo containers shipped through U.S. ports will drop by double digits from August through November. At the Port of Savannah, container volume jumped 22.5% in March to 533,995 units and remained above 500,000 container units through May. The streak ended in June, when container volumes fell 9.6% compared to a year earlier. Lynch said paused shipments of automobiles to Georgia prompted by tariffs on foreign cars contributed to a 16% drop in autos moving through the nearby Port of Brunswick in fiscal 2025. Last year, Brunswick was the top U.S. port for automobiles after passing the Port of Baltimore, which was shut down for weeks after the deadly collapse of the Francis Scott Key Bridge. Cargo volumes appeared flat in July said Lynch, who anticipates another decline in August. But he said he's optimistic the turbulence won't be prolonged. 'If they can nail these tariffs down, we'll get back to normal trade,' Lynch said.
Bloomberg
15 minutes ago
- Bloomberg
Trade Flop Shows Europe Can't Afford to Delay Reforms
Whether the White House 'won' its trade negotiations with the European Union is debatable: Americans will now pay more for French wine and German cars, while Europeans get a tax cut on US goods. Nonetheless, the talks clearly exposed Europe's lack of leverage. To gain more, the bloc must rapidly improve its competitiveness, starting by mobilizing the trillions of euros in investment needed to fund innovation, strengthen its militaries and decarbonize. Obscured in all the focus on tariffs has been the fact that the bloc finally has a plan worth pursuing. The European Commission's Savings and Investment Union is its most coherent attempt yet to integrate fragmented capital markets. The goal is simple: to turn Europe's €35 trillion ($41 trillion) in household savings — much of it trapped in bank deposits — into more productive investment.
23 minutes ago
Trump caps his Scottish visit by opening a new golf course
BALMEDIE, Scotland -- U.S. President Donald Trump opened a new golf course bearing his name in Scotland on Tuesday, capping a five-day foreign trip designed to promote his family's luxury properties and play golf. 'Let's go. 1-2-3,' Trump said before he used a golden pair of scissors to cut a red ribbon and fireworks popped to mark the ceremonial opening of the new Trump course in the village of Balmedie on Scotland's northern coast. 'This has been an unbelievable development,' Trump said beforehand. He thanked his son Eric for his work on the project, saying it was 'truly a labor of love for him.' Son Don Jr. also was present. Eric Trump said the course was a 'passion project' for his father. Immediately after the opening, Trump, Eric Trump and two professional golfers teed off on the first hole. Trump rarely allows the news media to watch his golf game, though video journalists and photographers often find him along the course wherever he plays. Trump planned to play 18 holes before he arrives back in Washington on Tuesday night. The overseas jaunt let Trump escape Washington's sweaty summer heat and humidity while questions about the case of Jeffrey Epstein followed him across the Atlantic Ocean. But it added to a lengthy list of ways the Republican president has used the White House to promote his brand. Billing itself as the 'Greatest 36 Holes in Golf,' the Trump International Golf Links, Scotland, was designed by Eric Trump. The course is hosting a PGA Seniors Championship event later this week before it begins offering rounds to the public on Aug. 13. Signs promoting the event were seen all around the course on Tuesday, while temporary signage on the highway guided drivers onto the correct road. Golfers hitting the course at dawn as part of that event had to put their clubs through metal detectors as part of the security procedures for Trump's arrival. The day combined two things close to Trump's heart: golf and Scotland. His mother, Mary Anne MacLeod, was born on the Isle of Lewis and eventually went to New York. She died in 2000 at age 88. 'My mother loved Scotland,' Trump said Monday during a meeting with British Prime Minister Keir Starmer at another of his golf courses, Turnberry, on Scotland's southern coast. 'It's different when your mother was born here.' He appeared to be in such a good mood that he even praised the throng of journalist who had assembled to cover the event, saying there was no 'fake news' on the course. 'I didn't use the word 'fake news' one time, not one time,' Trump said. Trump worked some official business into the trip by holding talks with Starmer and reaching a trade framework for tariffs between the U.S. and the European Union's 27 member countries — though scores of key details remain to be settled. But the trip has featured a lot of golf, and the presidential visit is sure to raise the new course's profile. Trump's assets are in a trust, and his sons are running the family business while he's in the White House. Any business generated at the course will ultimately enrich the president when he leaves office, though. Visible from around the new course are towering wind turbines lining the coast, part of a nearby windfarm Trump sued to try to block construction of in 2013. He lost the case and was eventually ordered to pay legal costs for bringing it — and the issue still enrages him. During the meeting with Starmer, Trump called windmills 'ugly monsters' and suggested they were part of 'the most expensive form of energy.' 'I restricted windmills in the United States because they also kill all your birds,' Trump said. 'If you shoot a bald eagle in the United States, they put you in jail for five years. And windmills knock out hundreds of them. They don't do anything. Explain that.' Starmer said in the U.K, 'we believe in a mix' of energy, including oil, gas and renewables. The new golf course will be the third owned by the Trump Organization in Scotland. Trump bought Turnberry in 2014 and owns another course near Aberdeen that opened in 2012. Trump golfed at Turnberry on Saturday, as protesters took to the streets, and on Sunday. He invited Starmer, who famously doesn't golf, aboard Air Force One so the prime minister could get a private tour of his Aberdeen properties before Tuesday's ceremonial opening. 'Even if you play badly, it's still good,' Trump said of golfing on his course over the weekend. 'If you had a bad day on the golf course, it's OK. It's better than other days.'
