LIVE NOW: White House Press Briefing With Press Secretary (Aug. 19)
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CNBC
3 hours ago
- CNBC
CNBC Daily Open: Trump's expanded tariffs mean putting out home fires could be more expensive
Tariff-related ruction appears to be settling down, but U.S. President Donald Trump is still reshaping global trade and industry — and everyday life. After the Trump administration hinted it could be open to Nvidia exporting more powerful chips to China after their revenue-sharing agreement, the semiconductor darling was reported to be developing a new chip for Beijing. And Intel's bounty from the CHIPS Act, formalized by the previous administration under Joe Biden, might come with a price tag of giving the current U.S. government a stake in the company. Other companies that have received funding from the same act — such as Micron and Samsung — may be subject to the same exchange, Reuters reported. Meanwhile, the effects of tariffs continue to creep into the home. The costs incurred by fires in the U.S. — think of the tragic Los Angeles wildfires in January or the one near the Grand Canyon just last month — are already growing, not just in terms of the physical damage but also the price of insurance premiums. And now that Trump has added fire extinguishers to a list of steel products that will face a 50% import tariff, even the price of relatively more benign and contained fires, such as those you start to burn photographs of your ex-partner, will be more expensive to put out. That's a truly protest-worthy tariff. Trump expands reach of steel and aluminum tariffs. The duties, which impose a 50% charge on imports, will include more than 400 additional product categories, such as fire extinguishers, machinery and construction materials. Japan exports sank 2.6% in July from a year ago. That figure is worse than expected, and the steepest decline for the country since February 2021. Falling shipments to the U.S. and China, Japan's two biggest export markets, contributed to the plunge. Pop Mart shares spike after it announced profit surge. Shares of the Labubu-maker were up 12.6% at 1:40 p.m. local time (1:40 a.m. ET) Wednesday as investors cheered the firm's announcement on Tuesday of a nearly 400% year-on-year jump in profit. Technology stocks weigh down U.S. markets. The Nasdaq Composite fell 1.46% on Tuesday as shares of Palantir sank more than 9%. Asia-Pacific markets retreated Wednesday, as the region's tech stocks tracked declines on Wall Street. [PRO] UBS raises its forecast for gold — again. Despite the rally for gold stalling since the middle of the year, the Swiss banking giant hiked its 2025 and 2026 target for gold prices. The price is REIT: UK-quoted property sector is consolidating rapidly Episodes in which the mighty KKR receives a bloody nose are collector's items — but we had one in the U.K. last week. The private equity giant was thwarted in an attempt to buy Assura, a property company that owns more than 600 doctor's surgeries and medical centers. That speaks to a bigger story — which is that U.K. stock market investors have concluded valuations in the country's REIT (real estate investment trust) sector had become ridiculously low.
The Hill
7 hours ago
- The Hill
Air support for Ukraine? Trump floats security guarantee
Trump has said the U.S. will help Europe craft security guarantees for Ukraine to backstop any peace deal reached with Russia, in lieu of Ukraine joining NATO, a red line for Russia. 'When it comes to security, they are willing to put people on the ground,' Trump said in an interview on 'Fox & Friends' Tuesday morning, referring to Europe. 'We're willing to help them with things, especially, probably, if you talk about by air because nobody has stuff we have.' White House press secretary Karoline Leavitt said Tuesday that Trump has tasked his national security team to ' come up with a framework for these security guarantees that can be acceptable to help ensure a lasting peace and end this war.' ' I won't, certainly, rule out anything as far as military options that the president has at his disposal, I'll let him do that,' she said, adding the president has 'definitively' ruled out boots on the ground. NATO Secretary-General Mark Rutte on Monday said Trump's willingness to involve the U.S. in security guarantees for Ukraine was a 'breakthrough' in the peace process, though details on America's potential role remain scarce. Trump's floating the possibility of air support could mean American pilots engaged in defensive operations, guarding against Russian missiles, or simply providing support for other aircraft — such as air-to-air refueling or for transportation of military equipment. Defensive operations could risk a confrontation between the U.S. and Russia, a scenario that both Trump and former President Biden before him have been anxious to avoid.
Yahoo
11 hours ago
- Yahoo
The rebuke comes as doubts remain over Putin's willingness to stop the carnage in Ukraine.
White House Press Secretary Karoline Leavitt has lashed out at the media over Russia, accusing journalists of 'actively rooting' against the President and trying to halt his peace efforts. In a wild rant to kick off her regular briefing, Donald Trump's spokeswoman also took aim at foreign policy experts for criticizing his push to secure a deal to end the war in Ukraine. She insisted that his meetings with Vladimir Putin and other European leaders had been a resounding success. 'All weekend, following those historic U.S.-Russia bilateral talks, we listened to clueless pundits on television trying, but failing, to claim that the president had failed,' she said.
