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01:43
19/08/2025
Zelensky, European allies push for Ukraine ceasefire, security guarantees in high stakes DC summit
Europe
18/08/2025
America needs to show some 'backbone', use its leverage against Russia, political scientist says
Europe
18/08/2025
Trump's endorsement of Kremlin lies 'problematic', researcher says
Europe
18/08/2025
Zelensky urges Trump to bring 'peace through strength' against Russia
Europe
18/08/2025
Spain and Portugal battle wildfires as death toll mounts
Europe
18/08/2025
Zelensky in Washington to discuss acceptable terms for peace deal
Europe
18/08/2025
Who will be at Zelensky's side for decisive talks with Trump on Ukraine-Russia war?
Europe
18/08/2025
Bayeux tapestry British museum loan: France and Britain are making nice
Europe
18/08/2025
Zelensky brings Europe's top leaders with him to meet Trump on ending Russia's war
Europe
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Euronews
2 hours ago
- Euronews
Appeals court throws out massive civil fraud penalty against Trump
A New York appeals court threw out President Donald Trymp's massive civil fraud penalty on Thursday, while upholding a judge's finding that he exaggerated his wealth for decades. The ruling spares Trump from a potential half-billion-dollar fine but bans him and his two eldest sons from serving in corporate leadership for several years. The decision came seven months after the Republican returned to the White House. A panel of five judges in New York's mid-level Appellate Division said the verdict, which stood to cost Trump more than $515 million (€443 million) and rock his real estate empire, was 'excessive.' After finding Trump engaged in fraud by flagrantly padding financial statements that went to lenders and insurers, Judge Arthur Engoron ordered him last year to pay $355 million (€305 million) in penalties. With interest, the sum has topped $515 million. The total — combined with penalties levied on some other Trump Organisation executives, including Trump's sons Eric and Donald Jr. — now exceeds $527 million (€453 million), with interest. 'While the injunctive relief ordered by the court is well crafted to curb defendants' business culture, the court's disgorgement order, which directs that defendants pay nearly half a billion dollars to the State of New York, is an excessive fine that violates the Eighth Amendment of the United States Constitution,' Judges Dianne T. Renwick and Peter H. Moulton wrote in one of several opinions shaping the appeals court's ruling. Engoron's other punishments, upheld by the appeals court, have been on pause during Trump's appeal and he was able to hold off collection of the money by posting a $175 million (€150 million) bond. The court, which split on the merits of the lawsuit and Engoron's fraud finding, dismissed the penalty in its entirety while also leaving a pathway for an appeal to the state's highest court, the Court of Appeals. Trump and his co-defendants, the judges wrote, can seek to extend the pause on any punishments taking effect. The panel was sharply divided, issuing 323 pages of concurring and dissenting opinions with no majority. Rather, some judges endorsed parts of their colleagues' findings while denouncing others, enabling the court to rule. Two judges wrote that they felt New York Attorney General Letitia James' lawsuit against Trump and his companies was justifiable and that she had proven her case but the penalty was too severe. One wrote that James exceeded her legal authority in bringing the suit, saying that if any of Trump's lenders felt cheated, they could have sued him themselves, and none did. One judge wrote that Engoron erred by ruling before the trial began that the attorney general had proved Trump engaged in fraud. The appeals court, the Appellate Division of the state's trial court, took an unusually long time to rule, weighing Trump's appeal for nearly 11 months after oral arguments last fall. Normally, appeals are decided in a matter of weeks or a few months. James has said the businessman-turned-politician engaged in 'lying, cheating, and staggering fraud.' Her office had no immediate comment after Thursday's decision.
France 24
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LeMonde
4 hours ago
- LeMonde
EU secures lower US car tariffs in new trade deal, but fails to protect wine
Details of a US-EU trade deal published on Thursday, August 21, showed Brussels secured a tariff reduction for cars exported to the United States but failed to win a reprieve for its cherished wine sector. US President Donald Trump and EU Commission President Ursula von der Leyen clinched a framework accord in July for most EU exports to face a 15% US levy. However, many aspects remained unclear, as the European Union sought to win carve-outs for some sectors and Trump threatened higher tariffs on others. A joint statement on Thursday brought some clarity, although negotiations are not over, as the EU said it would seek more tariff reductions. The "maximum, all-inclusive" 15% rate would apply to the vast majority of European exports, including cars, pharmaceuticals, semiconductors and lumber, the EU said. "This is the most favorable trade deal the US has extended to any partner," EU trade commissioner Maros Sefcovic told a press conference in Brussels, explaining the levy will not come on top of existing tariffs. In recent weeks, Trump has raised the possibility of additional tariffs targeting specific sectors such as pharmaceuticals, which account for 20% of the EU's exports to the United States, and semiconductors. Bison and wine Sefcovic said he was confident that the rate for cars, which is lower than the current 27.5%, will apply retroactively from August 1, having received assurances on the matter from his US counterpart. However, this will happen only once the EU introduces legislation to eliminate its own tariffs on US industrial products, something Sefcovic said the commission was "working very hard" on. The 15% rate will also apply to wine and spirits despite a push by France, Italy and other wine-making countries to win a zero tariff exemption. "Unfortunately, here we didn't succeed," Sefcovic said, adding negotiations would continue. "These doors are not closed forever." The French wine exporters federation said it was "hugely disappointed." "We are certain that this will create major difficulties for the wines and spirits sector," said Gabriel Picard, the head of the wine and spirits federation FEVS. Christophe Chateau, a spokesperson for a group representing Bordeaux wine producers, described this as "bad news" – but better than the worst-case scenario, with Trump who had at one point threatened tariffs as high as 200%. "It further hinders the trade and export of Bordeaux wines to the United States," which is by far their largest market, Chateau told Agence France-Presse. French Trade Minister Laurent Saint-Martin said his government would seek "additional exemptions" in the trade deal. Under the agreement, the EU committed to significantly improving market access to a range of US seafood and agricultural goods, including tree nuts, dairy products, fruits, vegetables, pork and bison meat. On the other hand, a special more favorable regime will apply as of September 1 to a number of EU exports to the US, including "unavailable natural resources" such as cork, aircraft parts and generic pharmaceuticals. These would effectively face a "zero or close to zero" rate, the commission said. "This is not the end of the process, we continue to engage with the US to agree more tariff reductions, to identify more areas of cooperation, and to create more economic growth potential," said von der Leyen.
