
Pressure from U.S. President Donald Trump for trade deals before Wednesday deadline, but hints of more time for talks
That furthers the uncertainty for businesses, consumers and America's trading partners, and questions remain about which countries will be notified, whether anything will change in the days ahead and whether Trump will once more push off imposing the rates. Trump and his top trade advisers say he could extend the time for dealmaking but they insist the administration is applying maximum pressure on other nations.
Kevin Hassett, director of the White House National Economic Council, told CBS' 'Face the Nation' on Sunday that Trump would decide when it was time to give up on negotiations.
'The United States is always willing to talk to everybody about everything,' Hassett said. 'There are deadlines, and there are things that are close, so maybe things will push back past the deadline or maybe they won't. In the end the president is going to make that judgment.'
Stephen Miran, the chair of the White House Council of Economic Advisers, likewise said countries negotiating in good faith and making concessions could 'sort of, get the date rolled.'
The steeper tariffs that Trump announced April 2 threatened to overhaul the global economy and lead to broader trade wars. A week later, after the financial markets had panicked, his administration suspended for 90 days most of the higher taxes on imports just as they were to take effect. The negotiating window until July 9 has led to announced deals only with the United Kingdom and Vietnam.
Trump imposed elevated tariff rates on dozens of nations that run meaningful trade surpluses with the U.S., and a 10 per cent baseline tax on imports from all countries in response to what he called an economic emergency. There are separate 50 per cent tariffs on steel and aluminum and a 25 per cent tariff on autos.
Since April, few foreign governments have set new trade terms with Washington as the Republican president demanded.
Trump told reporters Friday that his administration might be sending out letters as early as Saturday to countries spelling out their tariff rates if they did not reach a deal, but that the U.S. would not start collecting those taxes until Aug. 1. On Sunday, he said he would send out letters starting Monday — 'could be 12, could be 15' — to foreign governments reflecting planned tariffs for each.
'We've made deals also,' Trump told reporters before heading back to the White House from his home in New Jersey. 'So we'll get to have a combination of letters, and some deals have been made.'
He and his advisers have declined to say which countries would receive the letters.
Treasury Secretary Scott Bessent rejected the idea that Aug. 1 was a new deadline and declined to say what might happen Wednesday.
'We'll see,' Bessent said on CNN's State of the Union. 'I'm not going to give away the playbook.'
He said the U.S. was 'close to several deals,' and predicted several big announcements over the next few days. He gave no details.
'I think we're going to see a lot of deals very quickly,' Bessent said.
Later Sunday, Trump vowed to impose more tariffs against the BRICS bloc of developing nations, which had condemned tariffs increases at its summit in Brazil. Trump said in a post on his social media platform that any country aligning itself with what he termed 'the Anti-American policies of BRICS' would be levied an added 10 per cent tariff.
Trump has announced a deal with Vietnam that would allow U.S. goods to enter the country duty-free, while Vietnamese exports to the U.S. would face a 20 per cent levy.
That was a decline from the 46 per cent tax on Vietnamese imports he proposed in April — one of his so-called reciprocal tariffs targeting dozens of countries with which the U.S. runs a trade deficit.
Asked if he expected to reach deals with the European Union or India, Trump said Friday that 'letters are better for us' because there are so many countries involved.
'We have India coming up and with Vietnam, we did it, but much easier to send a letter saying, 'Listen, we know we have a certain deficit, or in some cases a surplus, but not too many. And this is what you're going to have to pay if you want to do business in the United States.'
Canada, however, will not be one of the countries receiving letters, Trump's ambassador, Pete Hoekstra, said Friday after trade talks between the two countries recently resumed.
'Canada is one of our biggest trading partners,' Hoekstra told CTV News in an interview in Ottawa. 'We're going to have a deal that's articulated.'
Canadian Prime Minister Mark Carney has said he wants a new deal in place by July 21 or Canada will increase trade countermeasures.
Hoekstra would not commit to a date for a trade agreement and said even with a deal, Canada could still face some tariffs. But 'we're not going to send Canada just a letter,' he said.
Price reported from Bridgewater, New Jersey. AP Business Writer Matt O'Brien in Providence, Rhode Island, contributed to this report.
Ellen Knickmeyer And Michelle L. Price, The Associated Press
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Globe and Mail
34 minutes ago
- Globe and Mail
2 High-Yield Dividend Growth Stocks to Buy Now and Hold for Decades
Key Points The average dividend payer in the S&P 500 index offers an unattractive yield these days. UnitedHealth Group raises its dividend rapidly, but unexpectedly high medical expenses are pressuring profits this year. Prologis is the world's largest owner of logistics real estate and an outstanding dividend grower. These 10 stocks could mint the next wave of millionaires › If you're an income-seeking investor, a buoyant stock market near its all-time high is actually a problem. At recent prices, the average stock in the benchmark S&P 500 index offers an itty-bitty 1.2% dividend yield. A low average dividend yield suggests the market is overbought, but that doesn't mean there aren't any hidden gems out there. UnitedHealth Group (NYSE: UNH) and Prologis (NYSE: PLD) have been flying under the radar even though they both offer yields that are more than double the benchmark average. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » UnitedHealth Group and Prologis aren't the highest-yielding stocks in the benchmark index, but they are some of its fastest dividend growers. Here's how they could produce heaps of passive income for folks who buy now and hold indefinitely. 1. UnitedHealth Group Shares of healthcare benefits management conglomerate UnitedHealth Group are down by about 44% in 2025. The company dramatically suspended its earnings outlook but it hasn't cut its dividend payout. Shares of UnitedHealth Group offer a 2.9% dividend yield at recent prices. The COVID-19 pandemic made the past five years challenging ones to operate an insurance business, but this didn't stop the company from lifting its dividend payout 77% higher. In May, UnitedHealth Group's CEO left, and the management that remained suspended forward-looking earnings guidance. In a nutshell, the company didn't raise premiums high enough to compensate for soaring healthcare expenses. Predicting earnings over the next 12 to 24 months could be a challenge and dividend payouts might not rise very fast in the near term. Investors with more than a few years ahead of retirement, though, can reasonably expect a return to rapid earnings growth several years from now. The Centers for Medicare and Medicaid Services measured the national health expenditure at $4.9 trillion in 2023, a 7.5% gain over the previous year. The national health expenditure is expected to keep growing at 5.8% annually and consume 20.3% of America's gross domestic product in 2033. A couple of years ago, UnitedHealth employed or was affiliated with about 10% of the nation's physicians. As the nation's largest employer of medical professionals, it can do more to control costs than any of its peers. This should allow it to retain a leading share of the market for employer-sponsored health insurance. A stock market that keeps beating down UnitedHealth stock is forgetting that the government and employers that sponsor health plans bear the burden of increasing healthcare expenses, not the middlemen. In the years ahead, UnitedHealth will most likely raise premiums and deliver a steadily growing profit again. 2. Prologis Lingering aftereffects of the pandemic are also keeping shares of Prologis depressed. This is a real estate investment trust (REIT) that owns about 1.3 billion square feet of warehouses and related buildings that facilitate e-commerce operations. Prologis stock is down by about 38% from a peak it set in 2022. Despite arguably overbuilding during the pandemic, the REIT was able to raise its dividend payout by 74% over the past five years. At recent prices, it offers a 3.8% yield. Overbuilding during the pandemic led to a glut of logistics-focused real estate, but it isn't anything Prologis can't handle. An occupancy rate that finished March at 95.5% shows us that the industry leader can still attract all the tenants it needs. Prologis is an international business, but it still relies on the well-established U.S. market for 86% of its net operating income. Signing net leases that transfer all the variable costs of building ownership to the tenant is popular in America but still a novel concept in many parts of the world that are still building out their commercial logistics infrastructure. International expansion gives Prologis a lot of room to grow and it has an important advantage that will help it lead the way abroad. An "A" credit rating from S&P Global and an "A2" rating from Moody's allowed this REIT to boast an extremely low 3.2% weighted average interest rate on outstanding debt at the end of March. Access to cheap capital allows Prologis to offer relatively low lease rates that attract top tenants. Without an end to this virtuous cycle in sight, there's a good chance that it keeps raising its dividend payout at a satisfying pace throughout your retirement years. Adding some shares to a diversified portfolio now looks like the right move. Where to invest $1,000 right now When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor's total average return is 1,048%* — a market-crushing outperformance compared to 179% for the S&P 500. They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor. See the stocks » *Stock Advisor returns as of July 7, 2025 Cory Renauer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Moody's, Prologis, and S&P Global. The Motley Fool recommends UnitedHealth Group and recommends the following options: long January 2026 $90 calls on Prologis. The Motley Fool has a disclosure policy.


Globe and Mail
34 minutes ago
- Globe and Mail
3 High-Yielding Dividend Stocks You Can Buy for Less Than $100
Key Points These stocks all yield more than three times the S&P 500 average. Together, they can help diversify your portfolio while adding plenty of income and stability over the long haul. 10 stocks we like better than Realty Income › Want some modestly priced stocks that also pay high dividends? It can be challenging finding a quality stock that fits that criteria, but there are three that can be excellent options worth considering today: Realty Income (NYSE: O), AT&T (NYSE: T), and Toronto-Dominion Bank (NYSE: TD). These stocks are all trading at less than $100 per share, offer high yields that are more than three times the S&P 500 (SNPINDEX: ^GSPC) average of 1.2%, and can be relatively safe investments to simply buy and hold for the long haul. Here's a look at how much these stocks pay, and why they are good investments to put into your portfolio right now. 1. Realty Income On Monday, real estate investment trust (REIT) Realty Income closed at a price of $57.53. This year, the stock has risen by nearly 8%, giving investors some decent gains to go along with a fairly high yield of 5.6%. Not only is Realty Income's high dividend appealing, but the REIT makes payments on a monthly basis. Unlike most other dividend stocks, you can collect a much more frequent payout with this investment. The REIT also prides itself on stability and consistency; it has declared a dividend for 660 straight months. In June, it also announced that it would be increasing the rate of its monthly dividend for the 131st time in its history. This year looks to be another solid year for the business, as Realty Income expects occupancy levels of more than 98% and same-store rent growth of around 1%. Its funds from operations for the first three months of the year came in at $1.05, up from $0.94 in the same period last year. The company is diversified across 91 industries and is in multiple markets, making it a fairly safe investment to put in your portfolio. For buy-and-hold investors, this can be a no-brainer income stock to hang on to. 2. AT&T Telecom giant AT&T trades at around $30 per share and is a modestly priced stock you can pick up right now. Despite soaring more than 50% over the past 12 months, the dividend stock only trades at 17 times its trailing earnings, which is modest in comparison to the average stock on the S&P 500, which trades at a multiple of 24. AT&T's dividend yields 3.8%, and while the company hasn't raised its payout for multiple years, it may only be a matter of time before that happens. Its financials have been looking good, with the company expecting free cash flow of at least $16 billion this year -- far more than the $8.3 billion it pays out in dividends on an annual basis. AT&T also makes for an underrated growth stock, as the company is in the process of acquiring Lumen 's Mass Markets fiber business, which will nearly double the amount of fiber locations it is in by the end of 2030, to around 60 million. If you want a combination of a high yield and some good growth potential, AT&T is a stock worth considering today. 3. Toronto-Dominion Bank Toronto-Dominion Bank is a top Canadian-based bank that can make for a reliable long-term investment. It yields 4.1%, which is a fairly strong payout for a top bank stock. Over a period of five years, TD has increased its quarterly dividend by 42%, for an average compounded annual growth rate of 7.2%. The bank has operations in the U.S., but due to lax anti-money laundering procedures, it was hit with a $3 billion fine last year and has an asset cap in place in the U.S. as a result of its settlement with regulators. But as a long-term play, this can still make for an excellent investment. TD is among the largest banks in North America, and over the trailing 12 months, it has posted a profit of 16.8 billion Canadian dollars on revenue totaling CA$58.8 billion, for a terrific profit margin of around 29%. Trading at around $74 and just 1.5 times its book value, TD can be a good value pickup for income investors today. Should you invest $1,000 in Realty Income right now? Before you buy stock in Realty Income, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Realty Income wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $687,764!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $980,723!* Now, it's worth noting Stock Advisor 's total average return is1,048% — a market-crushing outperformance compared to179%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 7, 2025


Canada Standard
an hour ago
- Canada Standard
Daily World Briefing, July 12
Chinese FM calls for joint efforts in finding right way for China, U.S. to get along China and the United States should work together to find the right way to get along with each other in the new era, Chinese Foreign Minister Wang Yi said here on Friday. Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, expressed his hope that the U.S. side would view China with an objective, rational and pragmatic attitude. Wang made the remarks during a meeting with U.S. Secretary of State Marco Rubio in the Malaysian capital on the sidelines of the ASEAN Foreign Ministers' Meeting and related meetings. China's Xixia Imperial Tombs inscribed as UNESCO World Heritage Site China's Xixia Imperial Tombs were inscribed on the World Heritage List on Friday during UNESCO's 47th session of the World Heritage Committee, held in Paris, France. With this addition, the total number of World Heritage sites in China has reached 60. Xixia Imperial Tombs is a group of imperial burial sites from the Xixia Dynasty (Western Xia, 1038-1227), founded by the Tangut people in northwestern China during the 11th to 13th centuries. Covering an area of nearly 40 square km, the site comprises four types of architectural remains: 9 imperial mausoleums, 271 subordinate tombs, a northern architectural complex covering 0.05 square km, and 32 flood control works. Trump says U.S. to impose 35 pct tariffs on Canada starting Aug. 1 U.S. President Donald Trump on Thursday announced a 35 percent tariff on imports from Canada starting Aug. 1. Trump posted a letter addressed to Canadian Prime Minister Mark Carney on his social media platform Truth Social, criticizing Canada for retaliating against previous U.S. tariffs. He pointed out that the new tariff is in part caused by the flow of fentanyl from Canada, as well as allegedly unfair trade practices, and that he would "consider an adjustment" to the tariffs if Canada cooperated with the United States to stop the flow of fentanyl. Canada continues trade talks with U.S. towards revised deadline of Aug. 1 Canada will continue the trade talks with the United States towards the revised deadline of Aug. 1, Prime Minister Mark Carney said Thursday. Carney said on his social media that throughout the current trade negotiations with the United States, the Canadian government has steadfastly defended the workers and businesses. "We will continue to do so as we work towards the revised deadline of August 1," he said. Canada has made vital progress to stop the scourge of fentanyl in North America, he said, affirming Canada's commitment to continuing to work with the United States to save lives and protect communities in both countries. Lebanese president says normalization with Israel not on agenda Lebanese President Joseph Aoun affirmed on Friday that normalizing diplomatic relations with Israel is currently not under consideration, emphasizing that Lebanon's current focus is on maintaining peace, not entering formal ties. "Peace means a state of non-war, and that is what matters to Lebanon right now," he said, according to a statement released by Lebanon's presidency. Aoun's remarks came during a meeting with a delegation from the Arab and International Relations Council. During the meeting, Aoun stressed that the unity of the Lebanese people is crucial to overcoming the country's ongoing challenges. U.S. State Department starts laying off at least 1,300 staffers The U.S. Department of State has begun firing more than 1,300 people as part of a dramatic overhaul of the agency, U.S. media reported on Friday. "The firings will affect 1,107 civil service and 246 foreign service officers," reported CNN after reviewing an internal notice. "It comes as the State Department implements a drastic reorganization as part of the Trump administration's broader efforts to shrink the federal government." Hundreds of offices and bureaus are being eliminated or altered as a result of the changes being implemented on Friday, it added. Nearly 800 killed while trying to access aid in Gaza Nearly 800 people have been killed while trying to access humanitarian aid in the Gaza Strip, the UN human rights office (OHCHR) said on Friday. Speaking at a press briefing in Geneva, OHCHR spokesperson Ravina Shamdasani said that as of July 7, the OHCHR had documented 798 killings in aid distribution areas in Gaza. "Including 615 in the vicinity of the Gaza Humanitarian Foundation (GHF) sites and 183, presumably on the routes of aid convoys," she said. She also noted that most of the casualties resulted from gunshot injuries. Shamdasani said that such a situation is unacceptable, yet it continues.