On the ground: US President Trump mobilises National Guard for Washington crime prevention
US President Donald Trump arrives for a news conference on Monday to discuss crime in Washington, announcing the...
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RTHK
2 hours ago
- RTHK
Tariffs on steel, semiconductors coming soon: Trump
Tariffs on steel, semiconductors coming soon: Trump Donald Trump boards Air Force One as he departs for Alaska to meet with Vladimir Putin. Photo: Reuters US President Donald Trump said on Friday he plans to announce tariffs on steel and semiconductors in the coming weeks. "I'll be setting tariffs next week and the week after, on steel and, I would say, chips. Chips and semiconductors, we'll be setting sometime next week, the week after," Trump said on board Air Force One as he headed to Alaska for a summit with Russian President Vladimir Putin. Trump said the levy rate would be "lower at the beginning" but "very high after a certain period of time," as a way to encourage businesses to relocate operations to the United States. The president said his policy would prompt companies in key industries like automobiles and artificial intelligence to relocate in order to "beat the tariffs," which could be 200 or 300 percent. Trump has also said he would employ this strategy with pharmaceuticals. On August 6, Trump announced a 100 percent tariff on semiconductors from firms that do not invest in the US. Trump has already instituted tariffs on steel, announcing an initial 25 percent levy that was later doubled to 50 percent. (AFP)
South China Morning Post
3 hours ago
- South China Morning Post
Trump trade war with China is starting to look like a partnership
Donald Trump is demanding his cut in every deal. This is true with both the shooting war in Ukraine and the trade war with China. In his lopsided trade deal with the European Union, the US president has boasted that the bloc will be required to buy 'vast amounts' of American weapons worth 'hundreds of billions'. Even before the deal, Vice-President J.D. Vance declared that if Europe wanted to continue the war in Ukraine, they would have to pay for it by buying US weapons. Brussels has denied that it is required to do so under the new deal, but there is no doubt it will end up buying a lot more from the US weapons industry, that is, whether it continues the war in Ukraine and/or rearms Europe against Russia. Trump really wants other people's money to pay for his tax cut for the rich. Nvidia and Advanced Micro Devices (AMD) will be exempted from export restrictions and allowed to sell lower-performance chips to China, but only after both firms agree to hand over 15 per cent of any future sales to fill the US government's coffers. But weren't those chip curbs supposed to protect America's 'national and economic security', because those chips could help advance China's military and intelligence capabilities? Well, money talks. The 'Export Clause' in the US Constitution does not allow any export tax on American firms like the 15 per cent levy to be imposed on the two US chip giants. But who bothers with the Constitution in Trump's Washington these days?
South China Morning Post
3 hours ago
- South China Morning Post
Trump, Putin soon to sit down for high-stakes Ukraine talks in Alaska
Inside a secure facility at Joint Base Elmendorf-Richardson in Anchorage, Alaska, US President Donald Trump and Russian President Vladimir Putin will soon begin a high-stakes summit – one that could reshape the global order, determine Ukraine's future, and redefine America's standing with its allies. Putin is 'bringing a lot of business people from Russia, and that's good,' Trump said aboard Air Force One on Friday. 'I like that because they want to do business, but they're not doing business until we get the war settled.' Trump told reporters that he believes 'something' will come of today's summit in Alaska. According to the Kremlin, the two will sit down for their talks on Friday around 11:30am local time, with part of the meeting to be held in front of cameras and possibly with questions from reporters. This will be the first summit between a US and Russian leader since 2001. A closed-door working lunch including US and Russian defence and trade ministers, will be part of the talks, although Putin press secretary Dmitry Peskov says no documents are expected to be signed after the summit. US Defence Secretary Pete Hegseth, General Dan Caine, the president's top military adviser, and General Alexus Grynkewich, the top NATO and US commander in Europe are part of the delegation. So are US Secretary of State Marco Rubio and special envoy Steve Witkoff.
