Yen weakens past 147 as us-japan trade tensions escalate
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Today
5 minutes ago
- India Today
Trump arrives in Scotland for golf and bilateral talks ahead of EU trade deal
US President Donald Trump, dogged by questions about his ties to disgraced financier and sex offender Jeffrey Epstein, arrived in Scotland on Friday for some golf and bilateral talks that could yield a trade deal with the European told reporters upon his arrival that he will visit his two golf properties in Scotland and meet with British Prime Minister Keir Starmer and European Commission President Ursula von der Leyen, whom he called a "highly respected woman."advertisementAs hundreds of onlookers cheered his arrival, Trump repeated his earlier comment about a 50-50 chance of securing a deal with the EU, adding it would be his administration's biggest trade agreement thus far, if it came together. However, he said there were still "sticking points" with Brussels on "maybe 20 different things."Trump said his meeting with Starmer would be more of a celebration of the trade deal already reached than continued work on it, adding, "It's a great deal for both."Before he left Washington, Trump said his administration was working hard on a possible trade deal with the EU, and Brussels was keen to make a deal. Von der Leyen said later she would meet Trump in Scotland on diplomats say a deal could result in a 15% tariff on EU goods, mirroring a framework accord with Japan reached this week and half of the 30% Trump is threatening to impose by August has sought to reorder the global economy after imposing a 10% tariff on nearly all trading partners in April and threatening sharply higher rates for many countries to kick in a week from now. Trump says the moves will reduce the US trade deficit and bring in extra revenue, but economists warn the new trade policies could drive up inflation.'DON'T TALK ABOUT TRUMP'Trump, facing the biggest domestic political crisis of his second term, expressed frustration about ongoing questions about his administration's handling of investigative files related to Epstein's criminal charges and his 2019 death in prison."You make it a very big thing over something that's not a big thing," Trump told reporters in Scotland, urging them to focus on other prominent Americans with ties to Epstein, including former President Bill Clinton."Talk about Clinton. Talk about the former president of Harvard. Talk about all of his friends. Talk about the hedge fund guys that were with him all the time. Don't talk about Trump," he said. "What you should be talking about is the fact that we have the greatest six months in the history of a presidency."The Epstein issue has caused a rare breach with some of Trump's most loyal Make America Great Again supporters, and majorities of Americans and Trump's Republicans say they believe the government is hiding details on the case, according to Reuters/Ipsos House officials are hoping the controversy dies down while Trump is abroad, two people familiar with the matter TIESTrump will stay at his Turnberry property on Scotland's west coast this weekend, before traveling on Monday to a golf property in Aberdeen, where he will open a second 18-hole course named in honor of his mother, Mary Anne MacLeod. MacLeod was born and raised on a Scottish island before emigrating to the USAs he left the White House, Trump said he looked forward to meeting both Starmer and Scottish leader John Swinney, who had publicly backed Democratic candidate Kamala Harris in the 2024 US presidential trip gives Trump and Starmer a chance to deepen their already warm ties, with key issues on the agenda to include ending Russia's war in Ukraine, British and U.S. sources deteriorating situation in Gaza is also likely to arise. Starmer on Thursday said he would hold an emergency call with France and Germany over what he called the "unspeakable and indefensible" suffering and starvation being reported there, and called on Israel to allow aid to enter the Palestinian health authorities say more than 100 people have died from starvation, most in recent weeks. Human rights groups have said mass starvation is spreading even as tons of food and other supplies sit untouched just outside the being elected last year, Starmer has prioritized good relations with Trump, stressing the importance of Britain's defense and security alliance with the US, while working to clinch the first tariff-reduction deal with the US in framework agreement reaffirmed quotas and tariff rates on British automobiles and eliminated tariffs on the UK's aerospace sector, but left steel tariffs in is expected to press for lower steel tariffs, but sources close to the matter said it was unclear if any breakthrough was possible during Trump's has described Scotland as a "very special place" and made a similar trip there in 2016 during his earlier run for the presidency, but he will not necessarily get a warm 70% of Scots have an unfavorable opinion of Trump, while 18% have a favorable opinion, an Ipsos poll in March police are girding for protests on Saturday in both Aberdeen and in Edinburgh, the country's will return to Britain from September 17-19 for a state visit hosted by King Charles. It will make Trump the first world leader in modern times to undertake two state visits to Britain. The late Queen Elizabeth hosted him at Buckingham Palace for a three-day state visit in June 2019.- EndsTune InMust Watch
India Today
5 minutes ago
- India Today
Rubio praises Pak's ‘partnership in countering terrorism' after meeting Ishaq Dar
US Secretary of State Marco Rubio met with Pakistan's Deputy Prime Minister and Foreign Minister, Ishaq Dar, in Washington on Friday. The two leaders held wide-ranging talks on strengthening bilateral ties, trade cooperation, and regional to X, Rubio said he thanked Dar for 'Pakistan's partnership in countering terrorism and preserving regional stability.' The leaders also discussed ways to expand bilateral trade and deepen collaboration in the critical minerals and mining with Pakistani Deputy Prime Minister and Foreign Minister @MIshaqDar50 today to discuss expanding bilateral trade and enhancing collaboration in the critical minerals sector. I also thanked him for Pakistan's partnership in countering terrorism and preserving regional Secretary Marco Rubio (@SecRubio) July 25, 2025advertisementAccording to US State Department spokesperson Tammy Bruce, Secretary Rubio expressed appreciation for 'Pakistan's continued willingness to play a constructive role in mediating conversations with Iran and its commitment to preserving regional stability.' The two sides also discussed plans for the upcoming US-Pakistan Counterterrorism Dialogue set to be held in Islamabad this August. The talks included enhancing cooperation against terror groups such as ISIS-K, as both nations seek to broaden counterterrorism efforts in the Rubio stressed the importance of 'expanding mutually beneficial bilateral trade' and exploring future opportunities for joint work in the minerals sector, an area gaining strategic significance amid growing global demand for critical to Arab News, Ishaq Dar is on an eight-day visit to the US, during which he chaired multiple United Nations Security Council (UNSC) meetings as part of Pakistan's rotating presidency this meeting comes just days after Rubio announced that the United States would designate The Resistance Front (TRF), a front for the Pakistan-based terror group Lashkar-e-Taiba (LeT), as both a Foreign Terrorist Organization (FTO) and a Specially Designated Global Terrorist (SDGT).TRF had claimed responsibility for the April 22 terror attack in Jammu and Kashmir's Pahalgam, which killed 26 people.- EndsTune InMust Watch
Mint
35 minutes ago
- Mint
Investors eye possible US-Europe trade deal as deadline looms
NEW YORK, July 26 (Reuters) - Investors are hopeful a potential trade deal between the U.S. and European Union could bring more certainty to markets ahead of next Friday's tariffs deadline. European Commission President Ursula von der Leyen was set to meet U.S. President Donald Trump on Sunday in Scotland after EU officials and diplomats said they expected to reach a framework deal this weekend. Trump on Friday said there was a 50-50 chance or perhaps less that the U.S. would reach a trade agreement with the EU. Trade tensions between the U.S. and Europe may have provided some investors with a rationale to be cautious, said Sameer Samana, head of global equities and real assets at the Wells Fargo Investment Institute. "It's one of our largest trading relationships... So if that last piece falls into place, then you've probably got at the margin more people that have to get back in the markets," Samana said. "It's been a source of uncertainty that will go away." A deal would likely include a 15% baseline tariff on all EU goods entering the U.S. and probably a 50% tariff on European steel and aluminum, the officials and diplomats said. Optimism over easing trade tensions broadly has helped push U.S. stocks to record highs. Trump's April 2 "Liberation Day" announcement of sweeping global tariffs sent stocks plunging in the immediate aftermath, due to spiking fears about a recession that have since faded. Still, investors have been bracing for increased volatility heading into August 1, which the U.S. has set as a deadline for raising levies on a broad swath of trading partners. The EU is facing U.S. tariffs on more than 70% of its exports - 50% on steel and aluminum, 25% on cars and car parts and a 10% levy on most other EU goods, which Trump has said he would hike to 30% on August 1. Hopes for a deal with Europe rose after Trump struck a trade agreement with Japan earlier in the week. "The deal with Japan and the likely one soon with the EU are especially important given both are major U.S. trading partners, together accounting for about a quarter of all goods imports," analysts at Capital Economics said in a note on Friday. In the agreement with Japan, the country's auto sector, which accounts for more than a quarter of its U.S. exports, will see existing tariffs cut to 15% from levies totaling 27.5% previously. An agreement that also lowers EU auto tariffs to 15% "would be no small deal" for the region as well, as about 10% of its shipments to the U.S. are in the same category, Capital Economics said. Investors over the weekend were also watching for developments on trade between the U.S. and China. Officials from the two countries plan to meet in Stockholm next week to discuss extending an August 12 deadline for negotiating a deal. (Reporting by Lewis Krauskopf; Editing by Alden Bentley and Edward Tobin)
