Trump says US will be fighting China 'in a very friendly fashion'
Trump told an energy summit at Carnegie Mellon University that other trade deals could be reached, including potentially with India.
Trump has launched a global trade war, levying tariffs of at least 10% on many countries and higher rates on many others.
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The Independent
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- The Independent
Donald Trump announces trade agreement with the European Union
Donald Trump announced a trade agreement with the European Union. The agreement will cut tariff rates on imports from the EU to 15 per cent. Conversely, US exports to the EU will become tariff-free under the new arrangement. Trump made the announcement alongside European Commission president Ursula von der Leyen at his Turnberry golf course in Scotland. Further details regarding the agreement were not immediately released by the White House.
Reuters
7 minutes ago
- Reuters
Boeing's contract offer rejected by union members
July 27 (Reuters) - Union members who assemble Boeing's (BA.N), opens new tab fighter jets in the St. Louis area have "overwhelmingly voted" to reject the company's contract offer on Sunday. Boeing's proposal, which was sent on Tuesday to more than 3,200 members of the International Association of Machinists and Aerospace Workers (IAM) District 837, included a 20% general wage increase over four years and a $5,000 ratification bonus, as well as more vacation time and sick leave. "The proposal from Boeing Defense fell short of addressing the priorities and sacrifices of the skilled IAM Union workforce," the IAM union said. Boeing did not immediately respond to a Reuters' request for a comment. The current contract expires on Sunday following which there is a seven-day cooling off period before a strike would begin, the union added. Boeing's defense division is expanding manufacturing facilities in the St. Louis area for the new U.S. Air Force fighter, the F-47, after it won the contract earlier this year.
BreakingNews.ie
7 minutes ago
- BreakingNews.ie
US and EU clinch trade deal to avert prohibitive US tariffs, Trump says
The United States has struck a framework trade deal with Europe, U.S. President Donald Trump announced on Sunday, averting a spiralling row between two allies who account for almost a third of global trade. The deal, that includes a 15 per cent tariff on EU goods entering the U.S. and significant EU purchases of U.S. energy and military equipment, will bring welcome clarity for EU companies. Advertisement However, the baseline tariff of 15 per cent will be seen by many in Europe as a poor outcome compared to the initial European ambition of a zero-for-zero tariff deal, although it is better than the threatened 30 per cent rate. The announcement came after European Commission President Ursula von der Leyen travelled to Scotland for talks with U.S. President Donald Trump to push a hard-fought deal over the line. Trump, who is seeking to reorder the global economy and reduce decades-old U.S. trade deficits, has so far reeled in agreements with Britain, Japan, Indonesia and Vietnam, although his administration has failed to deliver on a promise of "90 deals in 90 days." Trump has periodically railed against the European Union saying it was "formed to screw the United States" on trade. His main bugbear is the U.S. merchandise trade deficit with the EU, which in 2024 reached $235 billion, according to U.S. Census Bureau data. The EU points to the U.S. surplus in services, which it says partially redresses the balance.
