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Donald Trump's wide world of sports

Donald Trump's wide world of sports

Politico6 days ago
WHAT'S IN A NAME — Donald Trump's weekend fusillade of social media posts may have fallen short in its aim of diverting attention from the firestorm surrounding the Jeffrey Epstein files.
But it succeeded in advancing what's increasingly looking like the central project of his second term: planting himself at the center of American public life.
With his call for the Cleveland Guardians to change back to the team's longtime name, the Cleveland Indians, and his threat to withhold a D.C. stadium deal until the Washington Commanders reverts back to its original Washington Redskins name, Trump signaled that dominion over Washington isn't enough. Every other institution — Wall Street, Fortune 500 companies, Big Law, higher ed, the media — must also bend the knee.
That list includes professional sports.
As a master of the attention economy and a product of popular culture, Trump knows the traditional understanding of the modern bully pulpit is outmoded. To truly command attention — and to speak to those who aren't engaged in the political process — a president must be everything, everywhere, all at once.
To Trump, that means railing about quotidian details of life — the kind of sugar used by Coca Cola; the water pressure in toilets and showerheads; T-Mobile's service — but also establishing himself as a constant presence in the sports world.
As president-elect, he made much-publicized trips to an Ultimate Fighting Championship fight at Madison Square Garden and the Army-Navy football game. Since returning to the White House, Trump has attended another UFC fight in Las Vegas, the Super Bowl in New Orleans (where he was the first sitting president to attend), the Daytona 500 in Florida and the NCAA college wrestling championship (marking his second appearance there in three years).
A week ago, Trump unexpectedly showed up on stage to present the trophy at the Club World Cup at MetLife Stadium in New Jersey, where he stood center stage amid confused foreign players for English soccer giant Chelsea.
While sports has always been politicized by the left and right — and a White House visit has long been a reward for championship teams in all sports — Trump has taken it to another level, He has functioned as a sports fan — recently joining the fray with his thoughts on Shadeur Sanders, among other topics — but also as a would-be commissioner eager to wield the power and prestige of the Oval Office in the realm of pro sports.
After Trump said in February he'd pardon disgraced baseball great Pete Rose and criticized Major League Baseball, MLB Commissioner Rob Manfred traveled to the White House two months later. Not long after, he reinstated Rose from baseball's ineligible list, making him eligible for the Hall of Fame. Manfred later acknowledged Trump played a role in his decision.
Trump has even brought the mighty NFL — one of the world's most lucrative sports leagues and owner of 93 of America's top 100 most watched programs in 2023 — to heel. In May, with NFL Commissioner Roger Goodell at his side in the Oval Office, the president announced that the 2027 NFL draft would be held in Washington, D.C. on the National Mall.
It's a redefinition of the presidency for the modern age, one that reflects Trump's populist bent. And it's a stark contrast with Joe Biden, who twice declined the traditional pre-Super Bowl televised interview, giving up the chance to speak to the nation's largest assembled live audience. He was absent from pop culture, except as the butt of jokes, and he paid for it. Carving out a beachhead in pro sports enables Trump to asymmetrically engage in the culture wars — weighing in on the policing of team names, for example — but without the partisan sheen. He understands instinctually that to project leadership across a fragmented media landscape, familiar political set-pieces, bland social media exhortations and the sit-down broadcast network interview aren't nearly enough anymore. Nor is the occasional lions-den podcast appearance.
Welcome to POLITICO Nightly. Reach out with news, tips and ideas at nightly@politico.com. Or contact tonight's author at cmahtesian@politico.com or on X (formerly know as Twitter) at @PoliticoCharlie.
What'd I Miss?
— Trump installs new GSA acting administrator, sidelines DOGE leaders: President Donald Trump has appointed Mike Rigas as acting administrator of the General Services Administration, effectively layering DOGE-aligned Stephen Ehikian and Josh Gruenbaum atop the agency. Rigas, a Trump administration veteran who has served as deputy secretary of State for Management and Resources and as acting director of the Office of Personnel Management, announced the move in a message to GSA staff this morning. GSA staffers and people close to the Department of Government Efficiency view this appointment as a strategic move by the White House to rein in Ehikian, the former acting administrator, and Gruenbaum, the commissioner of the Federal Acquisition Service within GSA.
— Trump lashes out at federal judge presiding over Harvard case: President Donald Trump attacked the federal judge presiding over Harvard University's lawsuit against his administration in a social media post this afternoon. Harvard is seeking to restore more than $2 billion in funding from the federal government after the Trump administration launched a review of roughly $9 billion in grants and contracts with the university over accusations that Harvard violated the rights of Jewish students, including during demonstrations against the Israel-Hamas war. U.S. District Judge Allison Burroughs, who was appointed to the federal bench by former President Barack Obama in 2014, heard arguments this morning in the case, the latest in a series of standoffs between the university and the White House.
— ICE will 'flood the zone' in NYC: The Department of Homeland Security will 'flood the zone' with Immigration and Customs Enforcement agents in New York City after the City Council blocked federal law enforcement agencies from opening an office in the city jails, President Donald Trump's border czar Tom Homan said this morning. Homan joined DHS Secretary Kristi Noem and other Trump administration officials to deliver that message at One World Trade Center after an off-duty federal customs officer was shot by an undocumented immigrant in an attempted robbery Saturday night, Noem said.
— U.S. senators visit Canada to build bridges as trade deadline looms: With the clock ticking to an Aug. 1 deadline to strike a new Canada-U.S. trade and security deal, four U.S. senators met Prime Minister Mark Carney in search of common ground on some of the thorniest cross-border trade irritants: lumber, digital services taxes and metals tariffs. 'We are bridge builders, not people who throw wrenches,' Sen. Ron Wyden (R-Ore.) told reporters today following a 45-minute meeting on Parliament Hill. Top of mind for the visiting Americans was the successful renegotiation of the United States-Mexico-Canada Agreement that President Donald Trump once called the 'largest, most significant, modern, and balanced trade agreement in history.'
— Judge gives ex-officer nearly 3 years in Breonna Taylor raid, rebuffs DOJ call for no prison time: A federal judge sentenced a former Kentucky police officer to nearly three years in prison today for using excessive force during the 2020 deadly Breonna Taylor raid, declining a U.S. Department of Justice recommendation that he be given no prison time. Brett Hankison, who fired 10 shots during the raid but didn't hit anyone, was the only officer on the scene charged in the Black woman's death. He is the first person sentenced to prison in the case that rocked the city of Louisville and spawned weeks of street protests over police brutality five years ago. U.S. District Judge Rebecca Grady Jennings sentenced Hankison at a hearing this afternoon in which she said no prison time 'is not appropriate' for Hankison. She also said she was 'startled' that there weren't more people injured in the raid.
— White House removes Wall Street Journal from Scotland press pool over Epstein bombshell: The White House is removing the Wall Street Journal from the pool of reporters covering the president's weekend trip to Scotland, White House press secretary Karoline Leavitt told POLITICO. The move follows the Journal's report alleging that President Donald Trump sent a sexually suggestive message to Jeffrey Epstein in 2003.Trump has denied the existence of the letter and POLITICO has not verified it. Tarini Parti, a White House reporter for the Wall Street Journal, had been scheduled to serve as the print pooler for the final two days of Trump's four-day trip to his golf courses in Turnberry and Aberdeen, Scotland. But the White House removed her from the trip manifest, Leavitt said.
AROUND THE WORLD
FARAGE MIMICS TRUMP — Nigel Farage announced today that any future Reform UK government would try to send prisoners overseas to complete their sentences — including to El Salvador.
The Reform UK leader said the plan, which echoes one of President Donald Trump's own hardline policies, would see up to 10,000 'serious' prisoners serve their time abroad in countries like Kosovo or Estonia. The governing Labour Party dismissed it as mere 'headline-chasing.'
Farage's right-wing party — which is leading the government in the polls — promised 'dynamic' prison places abroad, with the British government renting cells in third countries. Reform argues that pulling Britain out of the European Convention on Human Rights would remove a key barrier to this plan.
SEARCHING FOR SPIES — Ukraine's SBU state security service launched a series of raids on the country's National Anti-Corruption Bureau today as part of a sweeping investigation into suspected collusion with Russian spies.
The SBU alleges that one of the top detectives at the anti-corruption agency, Ruslan Magamedrasulov, and another elite officer at the bureau were working as Russian moles. Both were detained. In total, more than 70 searches were conducted.
Nightly Number
RADAR SWEEP
THE BIGGER PICTURE — Between 1907 and 1935, most color photographs were taken using the autochrome process, which used colored potato starch, silver emulsion and glass plates to capture still images. Now, a century later, many of those photos are punctured with tiny holes or stained with purple and orange blotches as they deteriorate from light and heat exposure and their silver bases oxidize. While the original versions are gone, archivists are not mourning the damage done. Instead, they're celebrating the opportunity to study the pictures and learn about the science behind their decay. Katy Kelleher reports for National Geographic.
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Jacqueline Munis contributed to this newsletter.
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Lutnick: EU has to offer Trump 'a good enough deal' to avoid 30% tariffs As President Trump prepares for a planned meeting about tariffs with European Commission President Ursula von der Leyen, Commerce Secretary Howard Lutnick said Sunday that the European Union has to open its markets for US exports if it wants to convince Trump to reduce the 30% tariff he's threatened to put in place August 1. Reuters reports Lutnick said the EU appeared to want to make a deal: On Friday, Trump said the odds of a trade deal with the EU were about "50-50," even as negotiators from both sides expressed optimism. Read more here. As President Trump prepares for a planned meeting about tariffs with European Commission President Ursula von der Leyen, Commerce Secretary Howard Lutnick said Sunday that the European Union has to open its markets for US exports if it wants to convince Trump to reduce the 30% tariff he's threatened to put in place August 1. Reuters reports Lutnick said the EU appeared to want to make a deal: On Friday, Trump said the odds of a trade deal with the EU were about "50-50," even as negotiators from both sides expressed optimism. Read more here. LG says consumers rushed to buy appliances ahead of tariffs Tariffs remain a key concern for South Korean appliance maker LG Electronics ( The company said that if President Trump's blanket tariffs take effect on Aug. 1, it will adjust prices and move some production to its plants in Mexico and the US. LG produces its products worldwide, particularly in South Korea, China, and Vietnam. On Aug. 1, imports from South Korea face a 25% tariff, while those from Vietnam face a 20% tariff. Imports from China are estimated to face tariffs of roughly 50%, though that could change after US and Chinese officials meet in Sweden for the next round of trade talks. According to LG, consumers rushed to purchase items in the first half of the year to avoid tariffs. Still, the company's net profit fell 3.1% in Q2 as operating costs increased. "Some consumers have been rushing to make purchases before the tariffs take effect," an executive said on the earnings call. "In the first half of 2025, we achieved approximately 3% growth year over year, higher than the market demand with new product launches and efficient sales operations, continuing to strengthen our market presence." But that pull-forward in demand could signal weakness ahead in the months to come if trade tensions escalate again. "A rise in product costs driven by the 50% tariff on steel and reciprocal tariffs that are set to be applied in the latter half of the year could translate into greater uncertainties for the market price," the executive said. "Additionally, shifts in the US government's trade policies and weakening consumer sentiment cast doubt on the demand outlook for home appliances." This isn't the first time LG has grappled with US protectionist policies. In 2018, during Trump's first term, washing machine prices rose when Trump targeted the industry with tariffs. Tariffs remain a key concern for South Korean appliance maker LG Electronics ( The company said that if President Trump's blanket tariffs take effect on Aug. 1, it will adjust prices and move some production to its plants in Mexico and the US. LG produces its products worldwide, particularly in South Korea, China, and Vietnam. On Aug. 1, imports from South Korea face a 25% tariff, while those from Vietnam face a 20% tariff. Imports from China are estimated to face tariffs of roughly 50%, though that could change after US and Chinese officials meet in Sweden for the next round of trade talks. According to LG, consumers rushed to purchase items in the first half of the year to avoid tariffs. Still, the company's net profit fell 3.1% in Q2 as operating costs increased. "Some consumers have been rushing to make purchases before the tariffs take effect," an executive said on the earnings call. "In the first half of 2025, we achieved approximately 3% growth year over year, higher than the market demand with new product launches and efficient sales operations, continuing to strengthen our market presence." But that pull-forward in demand could signal weakness ahead in the months to come if trade tensions escalate again. "A rise in product costs driven by the 50% tariff on steel and reciprocal tariffs that are set to be applied in the latter half of the year could translate into greater uncertainties for the market price," the executive said. "Additionally, shifts in the US government's trade policies and weakening consumer sentiment cast doubt on the demand outlook for home appliances." This isn't the first time LG has grappled with US protectionist policies. In 2018, during Trump's first term, washing machine prices rose when Trump targeted the industry with tariffs. Japan says $550 billion investment could finance Taiwanese chipmaker in US The $550 billion President Trump said Japan gave to the US "to lower their tariffs a little bit," could be used to help finance a Taiwanese chipmaker building plants in the US, the Associated Press reported Saturday. Trump on Thursday called the $550 billion "seed money" and that 90% of profits from the money invested would go to the US. "It's not a loan or anything, it's a signing bonus," Trump said. Read more here. The $550 billion President Trump said Japan gave to the US "to lower their tariffs a little bit," could be used to help finance a Taiwanese chipmaker building plants in the US, the Associated Press reported Saturday. Trump on Thursday called the $550 billion "seed money" and that 90% of profits from the money invested would go to the US. "It's not a loan or anything, it's a signing bonus," Trump said. Read more here. More cracks form in the US-Japan trade agreement We detailed earlier (keep scrolling) some initial, if gentle, pushback from the Japanese side on the US portrayal of the countries' trade deal. The Financial Times has a good, detailed look at some of the "cracks" forming: Read more here (subscription required). We detailed earlier (keep scrolling) some initial, if gentle, pushback from the Japanese side on the US portrayal of the countries' trade deal. The Financial Times has a good, detailed look at some of the "cracks" forming: Read more here (subscription required). EU head to meet with Trump this weekend in bid to clinch deal Bloomberg reports that European Commission President Ursula von der Leyen will meet with President Trump this weekend as he travels to his golf club in Scotland in a bid to secure a trade deal. The meeting will come as the two sides race to secure a deal ahead of next Friday — Trump's self-imposed deadline for 30% tariffs on EU goods to kick in. On Friday, Trump put the odds of a deal at "50-50." From the report: Bloomberg reports that European Commission President Ursula von der Leyen will meet with President Trump this weekend as he travels to his golf club in Scotland in a bid to secure a trade deal. The meeting will come as the two sides race to secure a deal ahead of next Friday — Trump's self-imposed deadline for 30% tariffs on EU goods to kick in. On Friday, Trump put the odds of a deal at "50-50." From the report: Trump: 'We haven't really had a lot of luck with Canada' President Trump on Friday expressed pessimism on US trade negotiations with Canada, suggesting he may simply impose threatened 35% tariffs on Canadian goods not covered by the existing US-Canada-Mexico trade agreement. "We haven't really had a lot of luck with Canada. I think Canada could be one where there's just a tariff, not really a negotiation," he said. More from Reuters: President Trump on Friday expressed pessimism on US trade negotiations with Canada, suggesting he may simply impose threatened 35% tariffs on Canadian goods not covered by the existing US-Canada-Mexico trade agreement. "We haven't really had a lot of luck with Canada. I think Canada could be one where there's just a tariff, not really a negotiation," he said. More from Reuters: Boston Beer Company says strong profits helped brewer absorb tariff costs The Boston Beer Company (SAM) continues to feel the effects of President Trump's tariffs, but a strong quarter of sales and profit is helping the Samuel Adams brewer absorb some of those cost increases. Boston Beer expects tariffs to add about $15 million to $20 million in costs for the full year. Previously, it modeled tariff costs of $20 million to $30 million. Expect the company to raise prices by 1% to 2% to offset some of the costs as well, executives said. Boston Beer did see tariffs negatively affect its gross margin toward the end of the second quarter, but it benefited from improved brewery efficiencies. For the second quarter, the company reported profits of $5.45 per share on revenue of $625 million, versus estimates for earnings of $4.00 per share on $588 million, according to S&P Global Market Intelligence. "Right now, I think we're very happy with the performance," Boston Beer CEO Michael Spillane said on the earnings call. "Not only that, but that's allowed us to offset some of the tariffs that we've seen so far." The Boston Beer Company (SAM) continues to feel the effects of President Trump's tariffs, but a strong quarter of sales and profit is helping the Samuel Adams brewer absorb some of those cost increases. Boston Beer expects tariffs to add about $15 million to $20 million in costs for the full year. Previously, it modeled tariff costs of $20 million to $30 million. Expect the company to raise prices by 1% to 2% to offset some of the costs as well, executives said. Boston Beer did see tariffs negatively affect its gross margin toward the end of the second quarter, but it benefited from improved brewery efficiencies. For the second quarter, the company reported profits of $5.45 per share on revenue of $625 million, versus estimates for earnings of $4.00 per share on $588 million, according to S&P Global Market Intelligence. "Right now, I think we're very happy with the performance," Boston Beer CEO Michael Spillane said on the earnings call. "Not only that, but that's allowed us to offset some of the tariffs that we've seen so far." Some headlines from Trump on tariffs this morning Via Bloomberg: Via Bloomberg: Trump: US will sell 'so much' beef to Australia President Trump said on Thursday that the US will sell "so much" beef to Australia, following Canberra relaxing import restrictions. Trump added that other countries who had refused US beef products were on notice. Reuters reports: Read more here. President Trump said on Thursday that the US will sell "so much" beef to Australia, following Canberra relaxing import restrictions. Trump added that other countries who had refused US beef products were on notice. Reuters reports: Read more here. World's No. 3 automaker Kia takes $570M tariff hit in Q2 Reuters reports: Read more here. Reuters reports: Read more here. Puma shares dive after warning of full-year loss, US tariff impact Puma ( shares fell 17% on Friday after the sportswear brand said that it now expects an annual loss due to a decline in sales and US tariffs denting profit. Reuters reports: Read more here. Puma ( shares fell 17% on Friday after the sportswear brand said that it now expects an annual loss due to a decline in sales and US tariffs denting profit. Reuters reports: Read more here. LG Energy Solution warns of slowing EV battery demand due to U.S. tariffs, policy headwinds Reuters reports: South Korean battery firm LG Energy ( Solution warned on Friday of a further slowdown in demand by early next year due to U.S. tariffs and policy uncertainties after it posted a quarterly profit jump. Its major customers Tesla (TSLA) and General Motors (GM) warned of fallout from U.S. tariffs and legislation that will end federal subsidies for EV purchases on September 30. "US tariffs and an early end to EV subsidies will put a burden on automakers, potentially leading to vehicle price increases and a slowdown in EV growth in North America," CFO Lee Chang-sil said during a conference call. Read more here. Reuters reports: South Korean battery firm LG Energy ( Solution warned on Friday of a further slowdown in demand by early next year due to U.S. tariffs and policy uncertainties after it posted a quarterly profit jump. Its major customers Tesla (TSLA) and General Motors (GM) warned of fallout from U.S. tariffs and legislation that will end federal subsidies for EV purchases on September 30. "US tariffs and an early end to EV subsidies will put a burden on automakers, potentially leading to vehicle price increases and a slowdown in EV growth in North America," CFO Lee Chang-sil said during a conference call. Read more here. Japan, US differ on how trade-deal profits will be split Japan said Friday that profits from the $550 billion investment deal with the US will be shared based on how much each side contributes. A government official suggested the US will also put in significant funds, but details of the scheme remain unclear. The White House had announced earlier in the week that the US would retain 90% of the profits from the $550 billion US-bound investment and loans that Japan would exchange in return for reduced tariffs on auto and other exports to the US. This would mean that returns would be split 10% for Japan and 90% for the US, according to the White House official, and that it would be "based on the respective levels of contribution and risk borne by each side." Bloomberg News reports: Read more here. Japan said Friday that profits from the $550 billion investment deal with the US will be shared based on how much each side contributes. A government official suggested the US will also put in significant funds, but details of the scheme remain unclear. The White House had announced earlier in the week that the US would retain 90% of the profits from the $550 billion US-bound investment and loans that Japan would exchange in return for reduced tariffs on auto and other exports to the US. This would mean that returns would be split 10% for Japan and 90% for the US, according to the White House official, and that it would be "based on the respective levels of contribution and risk borne by each side." Bloomberg News reports: Read more here. US business activity rises; tariffs fuel inflation concerns US business activity rose in July, but companies increased the prices for goods and services, supporting the view from economists that inflation will accelerate in the second half of 2025 and it will mainly be due to tariffs on imports. Reuters reports: Read more here. US business activity rose in July, but companies increased the prices for goods and services, supporting the view from economists that inflation will accelerate in the second half of 2025 and it will mainly be due to tariffs on imports. Reuters reports: Read more here. It sounds like Trump now has a new minimum tariff rate: 15% President Trump set a new rhetorical floor for tariffs on Wednesday night in comments in a shift that raises the president's baseline rate from 10%. Yahoo Finance's Ben Werschkul writes: Read more here. President Trump set a new rhetorical floor for tariffs on Wednesday night in comments in a shift that raises the president's baseline rate from 10%. Yahoo Finance's Ben Werschkul writes: Read more here. Keurig Dr. Pepper brewer sales volume drops 22%, CEO says tariff impacts 'will become prominent' Keurig Dr. Pepper CEO Tim Cofer said that tariffs are putting additional pressure on the company in an earnings call Thursday, especially when it comes to its coffee business, which KDP expects to be "subdued" for the remainder of the year. "Commodity inflation will build as we roll into the back half and we roll into our higher cost hedges on green coffee," Cofer said. "The tariff impacts will become prominent. And we all know that tariff situation is a bit fluid." Keurig is one of the biggest coffee importers in the US, along with Starbucks (SBUX) and Nestle (NSRGY). The US sources most of its coffee from Brazil, which is set to face 50% tariffs on its products on Aug. 1, and Colombia, which faces a tariff rate of 10%. In Keurig's coffee business, appliance volume decreased 22.6% during the quarter, reflecting impacts of retailer inventory management, and K-Cup pod volume decreased 3.7%, reflecting category elasticity in response to price increases, the company reported. "Our retail partners will likely continue to manage their inventory levels tightly, in particular on brewers," Cofer commented. "And then finally, you know we did a round of pricing at the beginning of the year. We've announced another round of pricing that will take effect next month, and we'll need to closely monitor how that elasticity evolves." Read more about Keurig earnings here. Keurig Dr. Pepper CEO Tim Cofer said that tariffs are putting additional pressure on the company in an earnings call Thursday, especially when it comes to its coffee business, which KDP expects to be "subdued" for the remainder of the year. "Commodity inflation will build as we roll into the back half and we roll into our higher cost hedges on green coffee," Cofer said. "The tariff impacts will become prominent. And we all know that tariff situation is a bit fluid." Keurig is one of the biggest coffee importers in the US, along with Starbucks (SBUX) and Nestle (NSRGY). The US sources most of its coffee from Brazil, which is set to face 50% tariffs on its products on Aug. 1, and Colombia, which faces a tariff rate of 10%. In Keurig's coffee business, appliance volume decreased 22.6% during the quarter, reflecting impacts of retailer inventory management, and K-Cup pod volume decreased 3.7%, reflecting category elasticity in response to price increases, the company reported. "Our retail partners will likely continue to manage their inventory levels tightly, in particular on brewers," Cofer commented. "And then finally, you know we did a round of pricing at the beginning of the year. We've announced another round of pricing that will take effect next month, and we'll need to closely monitor how that elasticity evolves." Read more about Keurig earnings here. The EU's Trump insurance As my colleague detailed below, EU member states voted to impose tariffs on over $100 billion of US goods from Aug. 7. The Financial Times reported that this move that allows the bloc to impose the levies quickly at any point in the future should its trade relationship with the US take a turn for the worse. From the report: Read more here (subscription required). As my colleague detailed below, EU member states voted to impose tariffs on over $100 billion of US goods from Aug. 7. The Financial Times reported that this move that allows the bloc to impose the levies quickly at any point in the future should its trade relationship with the US take a turn for the worse. From the report: Read more here (subscription required). Europe approves $100B-plus tariff backup plan A report in the Wall Street Journal on Thursday said that the European Union has now approved its retaliatory tariff package on US goods that could start in August if no trade agreement is reached. The EU announced on Wednesday that it will hit the US with 30% tariffs on over $100 billion worth of goods in the event that no deal is made and if President Trump decides to follow through with his threat to impose that rate on most of the bloc's exports after Aug. 1. The US exports, which would include goods such as Boeing (BA) aircraft, US-made cars and bourbon whiskey would all face heavy tariffs that match Trump's 30% threat. The approval of the package comes despite the growing optimism that the US and EU will reach a deal that would put baseline tariffs on the bloc at 15%, matching the level the US applied to Japan. The EU is keen to reach a deal with the US but as a cautionary measure has approved 30% tariffs if a deal is not made. A report in the Wall Street Journal on Thursday said that the European Union has now approved its retaliatory tariff package on US goods that could start in August if no trade agreement is reached. The EU announced on Wednesday that it will hit the US with 30% tariffs on over $100 billion worth of goods in the event that no deal is made and if President Trump decides to follow through with his threat to impose that rate on most of the bloc's exports after Aug. 1. The US exports, which would include goods such as Boeing (BA) aircraft, US-made cars and bourbon whiskey would all face heavy tariffs that match Trump's 30% threat. The approval of the package comes despite the growing optimism that the US and EU will reach a deal that would put baseline tariffs on the bloc at 15%, matching the level the US applied to Japan. The EU is keen to reach a deal with the US but as a cautionary measure has approved 30% tariffs if a deal is not made. Trump tariffs wreaking havoc in Brazil's citrus belt Reuters reports: Read more here. Reuters reports: Read more here. South Korea weighs US investment pledge to trim auto tariff Trade discussions between the US and South Korea have led both sides to investigate the idea of creating a fund to invest in American projects. A report said this possible deal would be similar to the agreement Japan struck Tuesday with President Trump. The details of the plan are still not clear, but the US has been seeking pledges totaling hundreds of billions of dollars. However, further talks on a deal between the two sides may have to wait as a trade meeting between the US and South Korea has been postponed after Treasury Secretary Scott Bessent became unavailable due to a scheduling conflict, South Korea's Finance Ministry said Thursday. Bloomberg reports: Read more here. Trade discussions between the US and South Korea have led both sides to investigate the idea of creating a fund to invest in American projects. A report said this possible deal would be similar to the agreement Japan struck Tuesday with President Trump. The details of the plan are still not clear, but the US has been seeking pledges totaling hundreds of billions of dollars. However, further talks on a deal between the two sides may have to wait as a trade meeting between the US and South Korea has been postponed after Treasury Secretary Scott Bessent became unavailable due to a scheduling conflict, South Korea's Finance Ministry said Thursday. Bloomberg reports: Read more here. 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