China Threatens to Block Panama Ports Deal Unless Its Shipping Giant Is Part of It
The proposed sale includes two ports at the Panama Canal and more than 40 others around the world, all owned by Hong Kong-based CK Hutchison 1 0.52%increase; green up pointing triangle.
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Yahoo
13 minutes ago
- Yahoo
Trump deal with Europe underlines new standard of (at least) 15% tariffs
President Trump and European Commission President Ursula von der Leyen announced a trade deal Sunday with a range of somewhat vague plans for energy purchases and open markets but one thing crystal clear: a tariff rate of 15% on European goods. It's the latest example of a new tariff floor for Trump that has been backed by other recent deals and letters, including one with Japan this past week that also saw a 15% rate. "We'll have a straight simple tariff of anywhere between 15% and 50%," Trump asserted. Both Trump and von der Leyen highlighted the 15% rate Sunday after their meeting in Scotland. Trump claimed a 'straight-across tariff of 15%' for 'automobiles and everything else,' adding that US exports to Europe would face a 0% rate. Von der Leyen confirmed the 15% tariffs 'across the board and inclusive," adding that it would bring stability and predictability to US-Europe relations. Trump added that the deal includes hundreds of billions of dollars in new EU purchases of U.S. energy as well as military equipment. The 15% rate may get a mixed reaction in Europe after negotiators had previously pushed for free trade (or more recently a 10% rate), but it's a halving from the 30% tariffs Trump promised in a letter earlier this month. Sunday's agreement with the European Union — America's largest trading partner — comes following agreements with Vietnam, the Philippines, and Indonesia with saw tariff rates of between 19% and 20%. Only one negotiation has seen Trump agree to a tariff below 15% — a pact with the UK in May — with Treasury Secretary Scott Bessent writing earlier this month, "usually the first person who makes a deal makes the best deal." Some details unclear Trump also said Sunday that many of the remaining countries facing a deadline of August 1 would face a letter dictating rates, saying they would be be 'very universal for most' and that the European deal is 'the big one.' The president said three to four additional countries could be in for deals in the the coming days while most nations would simply get letters. In any case, the 15% baseline is a shift — even from recent weeks. Trump earlier this month said that many countries would see a rate of 'probably 10% or 15%, we haven't decided yet.' Even last Sunday, Commerce Secretary Howard Lutnick told CBS: "You should assume that the small countries... will have a baseline tariff of 10%." This new standard is also notable fulfillment of an oft-made campaign trail promise that saw the then-candidate pledge to create a "ring around the collar" of the US economy with a blanket rate of between 10% and 20%. Fulfilling that pledge — which was often dismissed as unrealistic at the time — has now become not only accepted but even a plus for markets after six months of Trump's second term have seen threats of higher duties that have reordered world trade actions. The recent announcement of the deal with Japan with a 15% tariff on goods like autos was welcomed by traders and helped fuel rises in US markets as well as the Japanese Nikkei 225, which immediately surged on the news. Japanese automakers in particular saw a jump after that deal as those companies celebrated a lowering of auto tariffs from 25% to 15%. European automakers now find themselves in a similar position. Trump, meanwhile, says he has no plans to amended his other sector specific tariffs as part of the European Union deal — even as Von der Leyen called the 15% tariffs 'inclusive." There are 50% tariffs currently levied on steel and aluminum (with planned duties at the same rate on copper), and Trump said Sunday that those tariffs are a "worldwide thing that stays the way it is." Trump also reiterated his promises of sectoral tariffs on semiconductors and pharmaceuticals to be rolled out, which could be much higher than 15% — unless Europe gets a carveout. Also on Sunday, Commerce Secretary Howard Lutnick said that a new semiconductor tariffs are nearly ready and would be unveiled in about "two weeks time." Ben Werschkul is a Washington correspondent for Yahoo Finance. Click here for political news related to business and money policies that will shape tomorrow's stock prices 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
Fox News
15 minutes ago
- Fox News
Humanoid robot swaps its own battery to work 24/7
Robots used to need our help to keep going. They had to be plugged in or manually recharged. Now, UBTech is changing that. The company's new humanoid, the Walker S2, has a feature that could reshape the future of factory work. It can swap out its own battery, requiring no human intervention. That means it can keep going, almost nonstop, 24/7. Sign up for my FREE CyberGuy ReportGet my best tech tips, urgent security alerts and exclusive deals delivered straight to your inbox. Plus, you'll get instant access to my Ultimate Scam Survival Guide — free when you join my Instead of shutting down to recharge, the Walker S2 walks to a nearby swap station. When one battery starts to run low, the robot turns its torso, uses built-in tools on its arms and removes the drained battery. It then picks up a fresh one, plugs it in and gets back to work immediately. The entire process takes about three minutes. This system is similar to battery-swapping tech used in electric vehicles. But this time, it's for humanoid robots. The Walker S2 is the size of a small adult. It's 5 feet, 3 inches tall and weighs 95 pounds. It has two 48-volt lithium batteries. When one runs out, it switches to the other. Each battery lasts approximately two hours while walking or four hours when the robot is standing still. Swap stations also monitor battery health. If a battery starts to degrade, a technician can replace it. UBTech claims the Walker S2 is designed for real-world use. It has been tested in car factories operated by BYD, Nio and Zeekr. These robots are not just for show. They have vision systems to detect battery levels. A green light indicates that a battery is ready to use. The robot reads that, picks it up and plugs it in using a USB-style connector. The robot also features a display face to communicate its status to human workers. And, yes, there's an emergency stop button, just in case. China is investing heavily in robotics. More than 1,600 robotics companies operate in Shenzhen, UBTech's home base. Projects range from humanoids like the Walker S2 to delivery robots that ride the subway and restock convenience stores. This move toward automation is about global competition. China is betting on AI and robotics to lead the next era of manufacturing. Robots like the Walker S2 are built to work nonstop. That changes what the workplace looks like, not just in factories, but everywhere. You could start seeing machines like this in airports, warehouses or even hospitals. They handle the physical tasks. You focus on the thinking, planning or managing. For businesses, 24/7 automation means more output without adding more staff. It keeps operations moving, day and night. This tech is no longer a preview of what's next. It's starting to show up on real job sites. UBTech's Walker S2 is an example of how automation is moving beyond the lab and into the workplace. With battery swapping, humanoid robots may soon be able to work longer hours than any human could ever do. They don't take coffee breaks. They don't sleep. They just keep going. Would you be comfortable working next to a robot that never needs rest, and would you worry it would eventually take your job? Let us know by writing us at Sign up for my FREE CyberGuy ReportGet my best tech tips, urgent security alerts and exclusive deals delivered straight to your inbox. Plus, you'll get instant access to my Ultimate Scam Survival Guide — free when you join my Copyright 2025 All rights reserved.
Fox News
15 minutes ago
- Fox News
EU trade deal a 'homerun' for Trump and American people, Republican strategist says
A 'Fox News Live' political panel reacts to President Donald Trump's announcement of a trade deal with the European Union.
