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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Reuters
19 minutes ago
- Reuters
Japan says $550 billion package in trade deal could finance Taiwanese chipmaker in US
TOKYO, July 26 (Reuters) - Japan's $550 billion investment package agreed in this week's U.S. tariff deal could help finance a Taiwanese firm building semiconductor plants in the U.S., Japan's top trade negotiator Ryosei Akazawa said on Saturday. Japan agreed to the sweeping U.S.-bound investment initiative, which includes equity, loans and guarantees, in exchange for lower tariffs on its exports to the U.S. However, the structure of the scheme remains unclear. "Japan, the United States, and like-minded countries are working together to build supply chains in sectors critical to economic security," Akazawa told public broadcaster NHK. To that end, he said projects eligible for financing under the package are not limited to U.S. or Japanese firms. "For example, if a Taiwanese chipmaker builds a plant in the U.S. and uses Japanese components or tailors its products to meet Japanese needs, that's fine too," he said, without specifying companies. The U.S. is significantly reliant on Taiwan's TSMC ( opens new tab for advanced chip manufacturing, raising economic security concerns due to geographic proximity to China. TSMC announced plans for a $100 billion U.S. investment with U.S. President Donald Trump at the White House in March, on top of $65 billion pledged for three plants in the state of Arizona, one of which is up and running. Japan will use state-owned Japan Bank for International Cooperation (JBIC) and Nippon Export and Investment Insurance (NEXI) for the investments. A recent law revision has enabled JBIC to finance foreign companies deemed critical to Japan's supply chains. Akazawa told NHK that equity investment would account for just about 1-2% of the $550 billion, suggesting that the bulk will come in the form of loans and guarantees. When asked about the White House statement that the U.S. would retain 90% of the profits from the package, he clarified that the figure refers only to returns on equity investment, which would represent a small fraction of the total. While Japan initially hoped to secure half of the returns, a loss from the concession on the profit-sharing would be marginal compared to the roughly 10 trillion yen ($67.72 billion) in tariff costs that could be avoided under the deal, he said. He added that Japan aims to deploy the $550 billion investments during Trump's current term. ($1 = 147.6600 yen)
Telegraph
19 minutes ago
- Telegraph
Donald Trump claims on R&A's Turnberry spending are ‘well wide of the mark'
Donald Trump's claims that the R&A has invested 'millions of dollars' in updating Turnberry's broadcasting and communications facilities in preparations for The Open returning to his Ayrshire links are understood to be well wide of the mark. Sources insist that, in complete contrast to the US President's comments, the R&A has not done any such work on cabling since a small amount was laid in 2009. Trump made the assertion when landing in Scotland on Friday night for his five-day visit. 'The infrastructure of the course is good,' he told The Telegraph when asked about the R&A repeatedly stating that substantial amounts of work would need to be done on logistics before it would consider taking the major to Turnberry again. 'In fact, the Royal and Ancient [sic], I don't know you're aware of this ... they spent a lot of money, hundreds of thousands of dollars, probably into the millions of dollars. And they've laid all the wire for television and for electricity under the holes of Turnberry, so that when the Open gets there, they have it all done.' The R&A declined to comment on Saturday, but it is understood that a little cable was laid in and around the 18th and the [fans] village in 2009 and nothing has been done since then. What has been laid wouldn't even be usable now according to sources and did not come at significant cost. Trump has lobbied for the Open to return to the course after he dished out his own millions to improve the layout and the hotel that is on the property. Yet while the former R&A chief executive, Martin Slumbers, declared 'we will not be taking events there until we're comfortable that the whole dialogue will be about golf', his successor, Mark Darbon, has indicated that the main stumbling block is not Trump's character or his penchant for stealing the spotlight, but the remoteness of the resort he bought for $60m in 2014. 'We love the golf course but we've got some big logistical challenges there,' Darbon said at last week's Open. 'You see the scale of their set-up here [Royal Portrush] and we've got some work to do on the road, rail and accommodation infrastructure around Turnberry. We've explicitly not taken it out of our pool of venues but we'd need to address those logistical challenges should we return.' Darbon met earlier this year with Eric Trump, the President's son who runs the family's portfolio of upmarket golf clubs, and informed him of the scale of development needed and stressed that Government support would be necessary. Regardless of any Whitehall pressure, it is highly unlikely the R&A will budge on this thorny issue. It relies on the revenue from its major to govern and develop amateur and recreational golf in 146 countries internationally and while Portrush last week attracted a crowd of 280,000, only 123,000 showed up at Turnberry the last time it played host 16 years ago. That could lead to a draining shortfall and the feeling in the sport's corridors of power is that even if the green light was given for a new road and a new station – not to mention a few hotels – Turnberry still might have to wait at least another decade. And Trump's wildly inaccurate statements will hardly assist in whetting the R&A's appetite to return.
Reuters
19 minutes ago
- Reuters
US denies entry to Venezuelan Little League players, sporting body says
WASHINGTON, July 26 (Reuters) - The United States has refused entry to a Venezuelan Little League team that had been due to compete in this year's senior league World Series baseball tournament in South Carolina, according to a statement from Little League International. Cacique Mara Little League was unable to obtain the necessary entry visas, a development that was "extremely disappointing, especially to these young athletes," the organization said in a statement. A Mexican team that finished second in a regional tournament will compete in its place so that the tournament may go forward, it added. The White House and State Department did not immediately respond to requests for comment on Saturday. U.S. President Donald Trump last month issued a proclamation barring entry to people from 12 countries and restricting entry by nationals of seven others, including Venezuela. In the Latin America region, Cacique Mara had finished with a record of 5-0, according to Little League. The 2025 Senior League Baseball World Series will be held from July 26 to August 2 in Easley, South Carolina.
