Ngozi Okonjo-Iweala and Angela Merkel on Global Trade as Trump Threatens More Tariffs
Richard Quest spoke to World Trade Organization Director-General Ngozi Okonjo-Iweala and former German Chancellor Angela Merkel on global trade as Donald Trump threatens more tariffs on partner countries.
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Boston Globe
an hour ago
- Boston Globe
Coming to America? In 2025, the US to some looks less like a dream and more like a place to avoid
There has long been a romanticized notion about immigration and America. The reality has always been different, with race and ethnicity playing undeniable roles in the tension over who can be an American. The US still beckons to the 'huddled masses' from the pedestal of the Early clues across industries — like Advertisement Polling by Pew Research Center from January through April found that opinions of the US have worsened over the past year in 15 of the 24 countries it surveyed. Trump and many of his supporters maintain that migrants in the country illegally threaten American safety, jobs, and culture. But people in the country legally also have been caught in Trump's dragnet. And that makes prospective visitors to the US, even as Advertisement Trump's global tariff war and his campaign against 'The chances of something truly horrific happening are almost certainly tiny,' Duncan Greaves, 62, of Queensland, Australia, advised a Reddit user asking whether to risk a vacation to the land of barbeques, big sky country, and July 4 fireworks. 'Basically it's like the Dirty Harry quote: 'Do you feel lucky?'' For much of its history, America had encouraged immigration as the country sought intellectual and economic fuel to spur its growth. But from the beginning, the United States has wrestled with the question of who is allowed to be an American. The new country was built on land brutally swiped from Native Americans. It was later populated by millions of enslaved Africans. The Still, the United States has always been a nation of immigrants, steered by the 'American Creed' developed by Thomas Jefferson, which posits that the tenets of equality, hard work, and freedom are inherently American. Everyone, after all, comes from somewhere — a fact underscored on-camera in the Oval Office this month when German Chancellor Friedrich Merz gave the president the framed birth certificate of Trump's grandfather, also named Friedrich, who emigrated from Germany in 1885. He was one of millions of Germans who fled war and economic strife to move to the United States in the late 19th Century. Advertisement There's a story there, too, that suggests the Trump family knows both the triumphs of immigration and the struggle and shame of being expelled. After marrying and making a fortune in America, the elder Trump attained US citizenship and tried to return to Germany. He was expelled for failing to complete his military service — and 'Why should we be deported? This is very, very hard for a family,' Friedrich Trump wrote to Luitpold, prince regent of Bavaria in 1905, according to a translation in Harper's magazine. 'What will our fellow citizens think if honest subjects are faced with such a decree — not to mention the great material losses it would incur.' Trump himself has married two immigrant women: the late Ivana Zelníčková Trump, of what's now the Czech Republic, and his current wife, Melania Knauss Trump of Slovenia. It's hard to overstate the degree to which immigration has changed the face and culture of America — and divided it. Advertisement Immigration accounted for all of the growth in 16 states that otherwise would have lost population, according to the Brookings Institution. But where some Americans see immigration largely as an influx of workers and brain power, Trump sees an 'invasion,' a longstanding view. Since returning to the White House, In his second term, unlike his first, A June survey from The US is still viewed as an economic powerhouse, though people in more countries consider China to be the world's top economy, according to the Pew poll, and it's unclear whether Trump's policies could cause a meaningful drain of Advertisement Netherlands-based Studyportals, which analyzes the searches for international schools by millions of students worldwide, reported that weekly pageviews for degrees in the US, collapsed by half between Jan. 5, and the end of April. It predicted that if the trend continues, the demand for programs in the US could plummet further, with US programs losing ground to countries like the United Kingdom and Australia. 'International students and their families seek predictability and security when choosing which country to trust with their future,' said Fanta Aw, CEO of NAFSA, which represents international educators. 'The US government's recent actions have naturally shaken their confidence in the United States.'
Yahoo
2 hours ago
- Yahoo
Trump tariffs live updates: Trump, Starmer say US-UK trade deal signed as G7 kicks off
President Trump and British Prime Minister Keir Starmer said they had signed a trade deal that the leaders had agreed to last month. Trump said the relationship with Britain was "just fantastic," as he stood to Starmer. The president waved and dropped a document, which he "We signed it and it's done," he added. The president dropped a document, which he said he had just signed. US trade and tariff talks with the European Union and Canada are in focus this week as President Trump attends the G7 summit in Canada. A report in the German newspaper Handelsblatt on Monday hinted the EU could agree to a baseline 10% US tariff on all European Union exports, in exchange for avoiding higher tariffs on cars, medicines, and electronics. The European Commission denied that report. Meanwhile, Trump said on the first day of the G7 gathering that a trade deal with Canada was possible. "We have different concepts. I have a tariff concept. Mark has a different concept," Trump said, standing alongside Canadian Prime Minister Mark Carney. "We're going to see if we can get to the bottom of it today." Canada's exports have been hit hard in Trump's trade salvos so far, as Trump has doubled duties on steel and aluminum imports to 50%. Meanwhile, Canada's auto exports to the US face 25% duties. Some products not included in the countries' existing trade agreement also face 25% levies. The US is also on track to formalize a trade agreement with the UK during the G7, reports said Monday. The furious push comes after Trump told reporters last week that he would soon send letters to trading partners setting unilateral tariff rates, raising questions about the status of negotiations — as well as fears of a possible escalation back to his "Liberation Day" tariffs that roiled markets. Trump instituted a pause on his most punishing duties that expires July 9. The diverging signals came as the US made key progress with China, as the nations agreed to a framework and implementation plan to ease tariff and trade tensions. Trump and other US officials indicated the deal should resolve issues between the two countries on rare earth mineral exports. Trump said the US would impose a total of 55% tariffs on Chinese goods. Yahoo Finance's Ben Werschkul reports, citing a White House official, that Trump arrived at that figure by adding together an array of preexisting duties and not any new tariffs. Meanwhile last week, a federal appeals court held a decision saying his tariffs can temporarily stay in effect. The US Court of International Trade had blocked their implementation last month, deeming the method used to enact them "unlawful." Read more: What Trump's tariffs mean for the economy and your wallet Here are the latest updates as the policy reverberates around the world. The US and United Kingdom are on track to begin implementing their trade agreement, Bloomberg reported Monday. The deal, announced early last month, is the sole agreement President Trump has reached with trade partners during his 90-day "pause" from the steep tariffs he announced in early April. Bloomberg reports: Read more here. President Trump kicked off three days of meetings in Canada, where trade will be front and center as well as a focus on national security issues. "I'm a tariff person, I've always been a tariff person," Trump said after meeting with Canadian Prime Minister Mark Carney at the start of a G7 summit in Kananaskis, Alberta. Yahoo Finance's Ben Werschkul reports: Read more here. Frank-Steffen Walliser, the CEO of luxury British automaker Bentley, said that trade remains an overhanging issue for the brand despite a preliminary agreement between the US and UK. Bentley, a subsidiary of Volkswagen (VWAGY), is coming off a tough year as it looks to electrify its vehicle lineup. Yahoo Finance's Pras Subramanian reports: Read more here. With US trade talks with the European Union in focus, there's a lot at stake for the two sides as they look to complete a preliminary deal by President Trump's July 9 deadline. If no agreement is reached by July 9, the US is set to increase broad tariffs on EU imports to 50% from 10%. The EU is hoping to have that deadline extended while negotiations continue. The European trading bloc is the US's largest trading partner; in 2024, it exported $600 billion worth of goods and imported $370 billion of US products. Despite the Trump administration's tariffs, the EU's trade surplus with the US has expanded each month since January. Both imports and exports increased in April, netting a total US trade deficit of around $115 billion. President Trump originally pegged his "Liberation Day" tariff rates to trade deficits, suggesting that this metric would be important to any final proposal, though the talks have also highlighted specific sectors and other areas of cooperation. President Trump on Monday suggested he was optimistic about trade negotiations with Canada during the opening day of the G7 meeting. "I think our primary focus will be trade, and trade with Canada, and I'm sure we can work something out," he said, per Yahoo Finance Canada. "We have different concepts. I have a tariff concept. Mark has a different concept," Trump added, standing alongside Canadian Prime Minister Mark Carney. "We're going to see if we can get to the bottom of it today." Trade is one of several items taking focus at the G7 gathering, with Trump's latest self-imposed tariff deadline is looming in July. Canada already faces a bevy of duties that affect its imports: 50% on steel and aluminum and 25% on foreign autos. Read more here. At Home filed for bankruptcy on Monday and said tariffs played a central role in its financial struggles. The chain of 260 stores sells home goods and has been struggling to manage its debt load for several years as the housing market slowed down and inflation-wary customers pulled back on spending. This year, tariffs proved to be a final blow, the company's CFO wrote in court documents. "The volatility of the current tariff environment came at a time when the management team was working to address the company's existing issues," CFO Jeremy Aguilar wrote. "These newly imposed tariffs and the uncertainty of ongoing U.S. trade negotiations intensified the financial pressure on the company, accelerating the need for a comprehensive solution." At Home sources a large percentage of its goods from China, and the tariff uncertainty made it hard for it to plan its key Halloween and Christmas orders ahead of time. Earlier this year, it was in talks to raise money and amend an agreement with lenders to shore up its finances but realized it needed a more "comprehensive strategy" after the new tariffs were announced. The chain is entering bankruptcy with a plan to continue operating, close some stores, and hand ownership to its lenders. Trump's Tariffs are affecting consumers beyond retail — they are also impacting aspects of everyday life. Families who would typically avoid the big amusement parks like Disney World in favor of more regional parks, which allow them to travel locally and avoid expensive flights are now saying they may stay home due to the economic uncertainty brought on by tariffs. AP reports: Read more here. CNN reports: Read more here. As President Trump's tariff deadline looms, what will happen when the countdown ends on Liberation Day 2.0? Yahoo Finance's Washington Correspondent Ben Werschkul looks into Trump's plan of action: Read more here. Despite a trade truce between the US and China last week in London, a key area remains unresolved. Export restrictions tied to national security are still being discussed, and Beijing has not committed to grant export clearance for some specialized rare earth magnets, according to two sources. Reuters reports: Read more here. Reuters reports: Read more here. According to reports in the German newspaper Handlesblatt, senior Brussels negotiators are considering whether to accept US tariffs of 10% on all EU exports into the US, in hopes it will prevent higher duties on cars, drugs, and electronics. Per Reuters, EU officials said the offer would come under certain conditions and would not be permanent. Handelsblatt reported that the EU is ready to cut tariffs on US-made vehicles and may ease technical and legal hurdles to make it easier for US manufacturers to sell their cars in Europe. Reuters reports: Read more here. China reported mixed economic performance for May on Monday, as retail sales jumped while factory output slowed due to higher US tariffs. AP reports: Read more here. Thailand's commerce minister has expressed confidence that he will be able to negotiate tariffs as low as 10% with the US. Reuters reports: Read more here. Reuters reports: Read more here. As part of tariff negotiations, the US has requested that Vietnam reduce the use of Chinese tech devices that are assembled in the country before exporting to America, according to several people familiar with the matter. Reuters reports: Read more here. South Korea has launched a task force to help handle tariff and non-tariff negotiations with the US. The group will manage discussions across industry and the energy sector, a statement from the Industry Ministry for South Korea revealed on Monday. Reuters reports: Read more here. Canada will host world leaders from across the globe at the G7 summit this week in Kananaskis. Among the many goals for Canadian Prime Minister Mark Carney: Demonstrate he can handle US President Donald Trump, the Financial Times reports, with one Canadian official characterizing the gathering as "preparing the red carpet for Godzilla." Read more here (premium) As leaders gather this week in Canada for the G7 summit, Israel's strike on Iran is sure to be a topic of discussion among the gathering. But as CNN reports, world trade and President Donald Trump's tariffs will also be top of mind: Read more here The Trump administration's 50% steel tariffs will soon apply to consumer appliances like refrigerators and dishwasher, CNN reports: Read more here The US and United Kingdom are on track to begin implementing their trade agreement, Bloomberg reported Monday. The deal, announced early last month, is the sole agreement President Trump has reached with trade partners during his 90-day "pause" from the steep tariffs he announced in early April. Bloomberg reports: Read more here. President Trump kicked off three days of meetings in Canada, where trade will be front and center as well as a focus on national security issues. "I'm a tariff person, I've always been a tariff person," Trump said after meeting with Canadian Prime Minister Mark Carney at the start of a G7 summit in Kananaskis, Alberta. Yahoo Finance's Ben Werschkul reports: Read more here. Frank-Steffen Walliser, the CEO of luxury British automaker Bentley, said that trade remains an overhanging issue for the brand despite a preliminary agreement between the US and UK. Bentley, a subsidiary of Volkswagen (VWAGY), is coming off a tough year as it looks to electrify its vehicle lineup. Yahoo Finance's Pras Subramanian reports: Read more here. With US trade talks with the European Union in focus, there's a lot at stake for the two sides as they look to complete a preliminary deal by President Trump's July 9 deadline. If no agreement is reached by July 9, the US is set to increase broad tariffs on EU imports to 50% from 10%. The EU is hoping to have that deadline extended while negotiations continue. The European trading bloc is the US's largest trading partner; in 2024, it exported $600 billion worth of goods and imported $370 billion of US products. Despite the Trump administration's tariffs, the EU's trade surplus with the US has expanded each month since January. Both imports and exports increased in April, netting a total US trade deficit of around $115 billion. President Trump originally pegged his "Liberation Day" tariff rates to trade deficits, suggesting that this metric would be important to any final proposal, though the talks have also highlighted specific sectors and other areas of cooperation. President Trump on Monday suggested he was optimistic about trade negotiations with Canada during the opening day of the G7 meeting. "I think our primary focus will be trade, and trade with Canada, and I'm sure we can work something out," he said, per Yahoo Finance Canada. "We have different concepts. I have a tariff concept. Mark has a different concept," Trump added, standing alongside Canadian Prime Minister Mark Carney. "We're going to see if we can get to the bottom of it today." Trade is one of several items taking focus at the G7 gathering, with Trump's latest self-imposed tariff deadline is looming in July. Canada already faces a bevy of duties that affect its imports: 50% on steel and aluminum and 25% on foreign autos. Read more here. At Home filed for bankruptcy on Monday and said tariffs played a central role in its financial struggles. The chain of 260 stores sells home goods and has been struggling to manage its debt load for several years as the housing market slowed down and inflation-wary customers pulled back on spending. This year, tariffs proved to be a final blow, the company's CFO wrote in court documents. "The volatility of the current tariff environment came at a time when the management team was working to address the company's existing issues," CFO Jeremy Aguilar wrote. "These newly imposed tariffs and the uncertainty of ongoing U.S. trade negotiations intensified the financial pressure on the company, accelerating the need for a comprehensive solution." At Home sources a large percentage of its goods from China, and the tariff uncertainty made it hard for it to plan its key Halloween and Christmas orders ahead of time. Earlier this year, it was in talks to raise money and amend an agreement with lenders to shore up its finances but realized it needed a more "comprehensive strategy" after the new tariffs were announced. The chain is entering bankruptcy with a plan to continue operating, close some stores, and hand ownership to its lenders. Trump's Tariffs are affecting consumers beyond retail — they are also impacting aspects of everyday life. Families who would typically avoid the big amusement parks like Disney World in favor of more regional parks, which allow them to travel locally and avoid expensive flights are now saying they may stay home due to the economic uncertainty brought on by tariffs. AP reports: Read more here. CNN reports: Read more here. As President Trump's tariff deadline looms, what will happen when the countdown ends on Liberation Day 2.0? Yahoo Finance's Washington Correspondent Ben Werschkul looks into Trump's plan of action: Read more here. Despite a trade truce between the US and China last week in London, a key area remains unresolved. Export restrictions tied to national security are still being discussed, and Beijing has not committed to grant export clearance for some specialized rare earth magnets, according to two sources. Reuters reports: Read more here. Reuters reports: Read more here. According to reports in the German newspaper Handlesblatt, senior Brussels negotiators are considering whether to accept US tariffs of 10% on all EU exports into the US, in hopes it will prevent higher duties on cars, drugs, and electronics. Per Reuters, EU officials said the offer would come under certain conditions and would not be permanent. Handelsblatt reported that the EU is ready to cut tariffs on US-made vehicles and may ease technical and legal hurdles to make it easier for US manufacturers to sell their cars in Europe. Reuters reports: Read more here. China reported mixed economic performance for May on Monday, as retail sales jumped while factory output slowed due to higher US tariffs. AP reports: Read more here. Thailand's commerce minister has expressed confidence that he will be able to negotiate tariffs as low as 10% with the US. Reuters reports: Read more here. Reuters reports: Read more here. As part of tariff negotiations, the US has requested that Vietnam reduce the use of Chinese tech devices that are assembled in the country before exporting to America, according to several people familiar with the matter. Reuters reports: Read more here. South Korea has launched a task force to help handle tariff and non-tariff negotiations with the US. The group will manage discussions across industry and the energy sector, a statement from the Industry Ministry for South Korea revealed on Monday. Reuters reports: Read more here. Canada will host world leaders from across the globe at the G7 summit this week in Kananaskis. Among the many goals for Canadian Prime Minister Mark Carney: Demonstrate he can handle US President Donald Trump, the Financial Times reports, with one Canadian official characterizing the gathering as "preparing the red carpet for Godzilla." Read more here (premium) As leaders gather this week in Canada for the G7 summit, Israel's strike on Iran is sure to be a topic of discussion among the gathering. But as CNN reports, world trade and President Donald Trump's tariffs will also be top of mind: Read more here The Trump administration's 50% steel tariffs will soon apply to consumer appliances like refrigerators and dishwasher, CNN reports: Read more here
New York Post
3 hours ago
- New York Post
Trump floats Russia and possibly China joining G7 at annual summit
WASHINGTON — President Trump said it was a 'mistake' for Russia to have been forced out of G7 during the nations' annual summit on Monday, before suggesting not just President Vladimir Putin but possibly Chinese President Xi Jinping could be welcomed in. 'The G7 used to be the G8. Barack Obama and a person named [ex-Canadian Prime Minister Justin] Trudeau didn't want to have Russia in,' Trump said alongside current Canadian PM Mark Carney at the start of the international security meeting. 'I would say that that was a mistake, because I think you wouldn't have a war right now if you had Russia in, and you wouldn't have a war right now if Trump were president four years ago,' he added. Trump has long opposed Putin's ouster from the G8 after the Russian leader invaded Ukrainian Crimea in 2014. 'Putin speaks to me. He doesn't speak to anybody else,' he said. 'He doesn't want to talk because he was very insulted when he was thrown out of the G8 as I would be, as you would be, as anybody would be.' Asked later whether China should join, the president also said: 'Well, it's not a bad idea. I don't mind that. If somebody wants to suggest China coming in, I think we suggest, but you want people that you can talk to.' German Chancellor Friedrich Merz disagreed sharply and released a statement later on X saying: 'The pressure on Russia must be increased.' 4 President Donald Trump speaks during a meeting with Canadian Prime Minister Mark Carney at the G7 summit in Kananaskis, Alberta, Canada, June 16, 2025. REUTERS 'This was a trusting and open exchange with US President Donald Trump before the start of the G7: We are looking for ways to end the escalation in the Middle East and discussing the war against Ukraine,' he posted. Leaders from France, Germany, Italy Japan, the European Union and the United Kingdom all convened with Trump and Carney for the summit in the Rocky Mountains resort town of Kananaskis in Alberta. Before flying to the Great White North, the president held lengthy phone calls with Putin, to talk about de-escalating the conflict between Iran and Israel as well as efforts to curb Tehran's nuclear program. Trump had already grown frustrated at Russia and Ukraine not coming to a peace deal to end the three-year war that Moscow launched in February 2022, but argued at the G7 this year that its past decisions as an international body isolated Russia. 4 Russia's President Vladimir Putin greets Chinese President Xi Jinping prior to the Victory Day military parade in Moscow on May 9, 2025. POOL/AFP via Getty Images 'They threw Russia out, which I claimed was a very big mistake, even though I wasn't in politics then. I was very loud about it,' Trump griped. Russia has expressed no interest in wanting to rejoin the block after its 2014 suspension. Other than his criticisms of the G7 format, the president expressed optimism about getting meaningful conversations done at the 'beautiful' location for the summit, on the outskirts of Banff National Park. 'I think we're going to accomplish a lot, and I expect to, and I think our primary focus will be trade and trade with Canada, and I'm sure we can work something out,' he said. 4 President Donald Trump is greeted by the Prime Minister of Canada Mark Carney, as he arrives at the G7 summit leaders' in Kananaskis, Alberta, Canada June 16, 2025. via REUTERS 4 Canada's Prime Minister Mark Carney, from left, President Donald Trump and Britain's Prime Minister Keir Starmer participate in a session of the G7 Summit, Monday, June 16, 2025, in Kananaskis, Canada. AP Carney also expressed optimism that a US-Canada trade deal could be reached soon. 'Nostalgia isn't a strategy. We have to change with the times and build a better world. And some of you, such as you, Mr. President, have anticipated these massive changes and are taking bold measures to address them,' the prime minister told Trump.
