Trump's AI plan meets ‘energy dominance'
The AI Action Plan will include cutting back environmental requirements and streamlining permitting policies to make it easier to build data centers and power infrastructure, Mohar Chatterjee reports.
Previous White House AI plans in the Biden administration and Trump's first term have focused on the technology's use and issues such as intellectual property. The new inclusion of permitting policy reflects both the tech industry's reality that the greatest barrier to AI deployment is access to reliable power — and Trump's enthusiasm for boosting fossil fuel production.
'Remaining the world's leader in AI will require an enormous increase in energy production,' Trump told attendees at a summit last week in Pittsburgh.
The tech-energy intersection is evident in how some of AI's biggest players pitched the White House on the AI Action Plan during an open comment period this spring.
Google, for example, wrote that U.S. energy and permitting rules 'appear inadequate' to meet the sector's needs. Meta called for a 'comprehensive national strategy to support domestic data center investment and deployment,' including 'timely access to reliable electricity and speed to market and permitting efficiency.' OpenAI recommended streamlining transmission line development and using the Defense Production Act to accelerate gas turbine construction.
Anthropic, the company behind AI model Claude, even offered a specific energy target: 50 gigawatts of power — the equivalent of 25 Hoover Dams — dedicated to data centers by 2027.
The White House has leaned on AI's needs to advance its fossil fuel agenda. The Pittsburgh summit last week was accompanied by more than $90 billion in data center and energy investments, coming on the heels of billions in announced investments during Trump's Middle East trip. A controversial report this month warning that fossil fuel plants are needed to prevent blackouts was couched in language promoting the AI race.
Even as he revoked Biden-era AI and energy policies early in his term, Trump kept one that opened federal lands to data centers. He also recently launched an initiative to pair data centers with federal labs — the groundwork for a potential executive order this week.
The order, which may be announced on the same day as the AI plan, is expected to direct the Energy Department to kick-start data center construction on federal sites, two people familiar with the plan told Mohar.
Trump is scheduled to deliver an AI speech Wednesday at an event hosted by the All-In podcast and the Hill & Valley Forum.
Green groups — which have long been concerned about data centers' potential to undermine grid reliability and increase greenhouse gas emissions — are on alert.
'Trump's AI scheme sounds like a climate bomb clothed in tech bro skin,' Jean Su, energy justice director at the Center for Biological Diversity, said Monday.
It's Monday — thank you for tuning in to POLITICO's Power Switch. I'm your host, Jason Plautz. Power Switch is brought to you by the journalists behind E&E News and POLITICO Energy. Send your tips, comments, questions to jplautz@eenews.net.
Today in POLITICO Energy's podcast: Josh Siegel speaks with Jason Grumet, CEO of the American Clean Power Association, about the state of renewable energy under Trump.
Power Centers
Could geothermal get a boost from fossil fuels?Researchers and the geothermal industry are looking at ways fossil fuels can be used to generate the energy source, Shelby Webb writes.
Geothermal energy has bipartisan support and the backing of federal incentives — and, crucially, the Trump administration.
Trump in an executive order called for removing 'all illegitimate impediments' to geothermal projects. And Energy Secretary Chris Wright has spoken favorably about geothermal.
Regulators in North Dakota approved a feasibility study in June to see whether geothermal could be paired with active oil well sites or if captured carbon dioxide could be used to feed geothermal production.
Permitting gets its momentBoth Republican and Democratic lawmakers are hoping to reopen talks on permitting legislation, writes Kelsey Brugger.
Committees in both the House and Senate will hold hearings this week focused on accelerating environmental reviews and addressing increased demand for electricity.
'I am hearing, believe it or not, some interest among Democrats in doing something on permitting reform. Because not only is it slowing down and grinding to a halt a lot of conventional energy projects, but there are also renewable projects, things that Democrats support,' Senate Majority Leader John Thune (R-S.D.) said during an interview Sunday on Fox News.
While lawmakers in both parties want to streamline the permitting process, Democrats are wary of the GOP's intentions and the administration's unilateral actions.
Need a satellite? NASA might have one for saleThe Trump administration is considering selling or leasing some NASA satellites, including ones already in orbit, Scott Waldman writes.
It's in line with the administration's other efforts to slash federal spending. But NASA spokesperson Bethany Stevens stressed that no decisions have been made yet.
The satellites are primarily used to gather scientific data, including carbon dioxide levels. NASA has about 50 spacecraft in orbit, and the Trump administration hasn't disclosed which ones may be up for grabs.
In Other News
Next stop, South America: China is building electric vehicle factories in Brazil, aiming to capitalize on one of the world's biggest markets after other automakers retreated.
The little guy: There is surging interest globally in small modular reactors as nuclear energy gains steam because of soaring electricity demand.
Subscriber Zone
A showcase of some of our best subscriber content.
The phase-out of federal renewable energy tax credits has created more uncertainty for states like New York and New Jersey that have ambitious clean energy plans.
Trump dismissed all but one of the members of a federal board that oversees the storage of nuclear waste.
The EPA officials who oversee the Greenhouse Gas Reduction Fund will move into the newly created Office of Finance and Administration.
That's it for today, folks! Thanks for reading.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
8 minutes ago
- Yahoo
Trump readies new hands-off AI 'action plan' that offers a split with Biden
President Trump is expected to release an AI "action plan" on Wednesday that reportedly outlines how the US can win in the global race to develop artificial intelligence by fostering a hands-off regulatory approach to the technology. Media reports suggest the document will likely mark a split from Biden administration policies, which favored restrictions against exports of AI chips and steps to ensure AI was not used to spread misinformation. The White House, according to a Reuters report that cited a summary of the draft action plan, will likely discuss how to make it easier to export AI technology abroad and reduce barriers to its development in the US. That may include everything from faster permitting for building AI data centers to more use of AI at the Pentagon to identifying which federal regulations slow down AI and even withholding federal funding from states with tough AI laws already in place. Trump is expected to discuss the topic during a speech at a Wednesday event titled "Winning the AI Race," organized by White House AI and crypto czar David Sacks and his co-hosts on the "All-In" podcast. The strategy announcement from the White House is the outcome of an order Trump signed in his first week that asked for an AI action plan to "sustain and enhance America's global AI dominance in order to promote human flourishing, economic competitiveness, and national security." Some executive orders are also expected this week, according to Axios and the Wall Street Journal, that would promote the exports of chips and AI technology to countries considered friendly to the US. There may be an order that targets "woke AI," according to The Wall Street Journal. It would target AI developers that the administration believes create liberally biased algorithms and block them from serving as federal contractors. The White House didn't respond to a request for comment. Two constitutional law scholars who talked with Yahoo Finance said it is doubtful the "woke AI" measure will withstand legal scrutiny. "If you sanction software that is liberal, but not software that is conservative, the challenge will be that the executive order is content-based discrimination," said UC San Francisco School of Law professor Rory Little. "I don't even know how you tell if software is liberal or conservative," Little said, adding that the First Amendment protects intellectual property as forms of speech that the government may not single out for punishment. But the order's constitutional viability may not matter in the short term for companies like Amazon (AMZN), Anthropic ( Google (GOOG), OpenAI ( Microsoft (MSFT), and Perplexity ( all of which are vying to supply AI systems to the government. Even if the order is met with legal challenges, AI developers might not have time to wait out a court solution. "A lot of people are trying to make deals with the Trump administration, so they view these executive orders not as law, but as the opening bid in a negotiation," Little said. "If you're an AI company, like Google, you're probably going to do your best to negotiate something that permits whatever you want to do to go forward," he added. "And you could care less what atmospheric politics might look like, so long as you're making money on your software." OpenAI CEO Sam Altman said Tuesday at a Federal Reserve banking conference in Washington, D.C., that his company now has lots of government work. "We are increasingly working with the government to roll out our services to lots of government employees," Altman said. If such an AI order is issued and then challenged, a court fight is likely to resemble those in multiple ongoing lawsuits against two other DEI-focused executive orders issued by Trump during his first days back in office. Those earlier orders directed all federal contractors to certify that they do not operate DEI programs in violation of anti-discrimination laws. They also shuttered government offices and employment positions focused on DEI. David Coale, a partner with the law firm Lynn Pinker Hurst & Schwegmann, said the executive orders get into an area called the "unconstitutional conditions" doctrine, which prohibits the government from conditioning a grant on the exercise of constitutional rights. "This [type of] proposal goes too far," Coale said, explaining that tying the eligibility to an AI's liberal bias presents "serious First Amendment issues." Alexis Keenan is a legal reporter for Yahoo Finance. Follow Alexis on X @alexiskweed. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
8 minutes ago
- Yahoo
Trump tariffs live updates: Trump strikes trade agreement with Japan, calls it 'largest deal in history'
President Trump said on Tuesday during an official meeting at the White House with members of Congress, that the US and Japan had reached a trade deal. 'I just signed the largest deal in history with Japan," Trump said during the meeting. The president said the agreement includes a 15% tariff on imported goods from Japan, and the country will invest $550 billion into the US. Earlier on Tuesday, Trump said the US had also struck a trade deal with the Philippines, which will see the country's imports face a 19% tariff into the US. Trump said US exports will face no import tax in the Philippines as part of the deal. The White House unveiled new details of a confirmed trade agreement with Indonesia too. Yahoo Finance's Ben Werschkul reports that a 19% tariff will apply to Indonesian goods, as well as a 40% rate on any 'transhipped' goods. Officials said no tax would apply to "99%" of US imports. The deal developments come as prospects for larger pacts with India and the European Union have soured. An interim deal between the US and India before an Aug. 1 deadline looks increasingly unlikely, according to Reuters. The EU still wants a trade deal with the US but is preparing countermeasures as Trump's hardline stance makes a no-deal outcome more likely, The Wall Street Journal reported. 'If they want war, they will get war,' a German official told the WSJ. Trump is reportedly pushing for higher blanket tariffs on imports from the EU, throwing a wrench in negotiations ahead of an Aug. 1 deadline for sweeping duties to take effect. He has threatened 30% tariffs on all imports. Last week, Trump said he would soon send letters to over 150 smaller US trade partners, setting blanket tariff rates for that large group. Trump has already sent letters to over 20 trade partners outlining tariffs on goods imported from their countries. Earlier in July, Trump announced a 35% tariff on Canadian goods and followed that up with promises of 30% duties on Mexico and the EU. The letters have at times upended months of careful negotiations, with Trump saying he is both open to reaching different deals but also touting his letters as "the deals" themselves. Treasury Secretary Scott Bessent on Tuesday said he expected many deals to take shape over the next several days. Read more: What Trump's tariffs mean for the economy and your wallet Here are the latest updates as the policy reverberates around the world. Trump: 'I've just signed the largest trade deal in history with Japan' President Trump announced overnight that his team and Japan have finally reached a trade deal, which includesa 15% tariff on imported goods from Japan, and the country will invest $550 billion into the US. Trump, who made the announcement during a White House reception with members of Congress and later on Truth Social, called it the "largest trade deal in history" in reference to Japan. The deal wasn't easy to achieve. Japan's Prime Minister Shigeru Ishiba had hoped to speak with Trump at the G-7 meeting back in June, but earlier this month Trump said Japan was "spoiled" and doubted a deal would happen. The two sides have come a long way, with Ishiba remaining stoic yet firm to maintain his country's trust while trying to reach an agreement with the US. Bloomberg News reports: Read more here. Japanese auto stocks surge as US announces lower-than-expected tariffs Shares of Japanese automakers pumped after U.S. President Donald Trump announced a trade deal with Japan, lowering the previously discussed 25% auto tariffs on Japanese vehicles to 15%. Trump hailed the deal as the 'largest Deal ever,' claiming Japan would invest $550 billion in the US and allow greater access to its markets, including for American autos, trucks, and agricultural goods. Honda (HMC) surged 9.8%, Toyota (TM) jumped 13.9%, Nissan (7222.T) gained over 5%, and Mazda (7261.T) soared 17.7%. Mitsubishi Motors (7211.T) rose over 12%. According to Japan's NHK, the revised tariff structure includes a 12.5% cut plus a 2.5% 'Most Favored Nation' base rate. The move comes as Japanese auto exports to the US have suffered, plunging 26.7% in June. Read more here. Trump announces new details on trade pact with Indonesia President Trump and his team released new details of a pact announced last week with Indonesia, confirming plans for a 19% tariff on the country and adding a 40% rate on any 'transhipped' goods. The more complete framework of the deal is further confirmation of an agreement with America's 23rd largest trading partner that will avert 32% tariffs that Trump threatened previously. It also stipulates that 'Indonesia is going to drop its tariffs to 0% on over 99% of its trade,' a senior White House official said Tuesday. The official added that the deal includes the elimination of non-tariff barriers that Trump's team say hinders American companies, including in areas like pre-shipment inspection requirements, motor vehicle safety standards, and restrictions around US medical devices and pharmaceuticals. The exact definition of how Trump defines transshipped goods has been a matter of some debate in recent weeks. The deal with Indonesia includes goods not just re-labeled but made with a significant portion of components from a third country and then assembled in Indonesia. It's a provision also included in a recent deal with Vietnam and is clearly aimed at China. Indonesian negotiators previously confirmed that a deal had been struck but not all details, with the country president's spokesperson telling Reuters the negotiations had been 'an extraordinary struggle.' Trump says US has reached trade deal with the Philippines President Trump said Tuesday the US had reached a trade deal with the Philippines following its president's visit to the White House. He posted on Truth Social: This doesn't seem to move the needle much for the Philippines, whose imports to the US will see a 19% tariff instead of the 20% Trump had threatened from Aug. 1. The Philippines is the US's 29th-largest trade partner. Copper-laden ships race to reach US ahead of tariffs Fascinating angle from Bloomberg: Read more here. Coca-Cola CFO on tariffs: 'We think we can manage' Coca-Cola's (KO) CFO said the company is managing President Trump's tariffs. "June turned out to be a disappointing month," Coca-Cola CFO John Murphy told Yahoo Finance on Tuesday. He noted that tariffs continue to create uncertainty heading into the second half of the year. "We think we can manage absorbing any of the impacts with the various levers that we have at our disposal. It's always a local decision as to how to utilize those levers, but right now, it's something that we factored into our rest of year guidance." Yahoo Finance's Brooke DiPalma reports that Coca-Cola reported earnings for its second quarter that topped forecasts. Read more here. Bessent says he will meet Chinese officials, discuss tariff deadline extension US Treasury Secretary Scott Bessent told Fox Business on Tuesday that he plans to meet his Chinese counterpart next week and discuss an extension of an August 12 deadline for higher tariffs. Both China and the US reached a trade truce in London last month to prevent escalating tariffs. Reuters reports: Read more here. RTX cuts 2025 profit forecast as tariff costs weigh US aerospace and defense giant RTX (RTX) cut its 2025 profit forecast on Tuesday, citing President Trump's trade war as the major reason. Shares of the company fell 3% in premarket trading. Reuters reports: Read more here. GM's core profit slides in second quarter as Trump's tariffs bite Tariffs have started to hit US automaker General Motors (GM), who reported a fall in second quarter core profit of 32% to $3 billion on Tuesday. The automaker said tariffs have sapped $1.1 billion from results as it continues to grapple with President Trump's challenging trade war. Reuters reports: Read more here. Canadian boycott of US spirits hurts broader alcohol sales: Trade group American imports to Canada have dropped sharply due to Canadian provinces' boycott of US spirits amid the ongoing trade war with the United States, according to a Canadian liquor trade group. Reuters reports: Read more here. AstraZeneca announces $50B US manufacturing investment, matching its big pharma peers Pharmaceutical giant, AstraZeneca (AZN) announced it plans to invest $50 billion in US manufacturing by 2030, in the hopes it will avoid steep tariffs on imported components manufactured abroad. Yahoo Finance's senior reporter Anjalee Khemlani looks at how AstraZeneca's latest US investment keeps pace with its big pharma rivals. Read more here Trump targeting trade loopholes risks 70% of China exports to US China's growth could be eroded due to President Trump's efforts to target the country via its trading partners across global supply chains, according to Bloomberg Economics. China is using other countries like Vietnam and Mexico more to make products for the US, a trend that accelerated after Trump's first trade war. China's share of total value- added manufacturing of goods destined for the US via Vietnam and Mexico surged 22% in 2023 from 14% in 2017. Bloomberg News reports: Read more here. India-US interim trade deal prospects dim ahead of tariff deadline: Sources Hopes for a US-India trade deal before the August 1 deadline are fading, with talks stuck over cuts to farm and dairy tariffs, according to sources. Reuters reports: Read more here. Orange juice importer says Trump's Brazil tariffs will raise US prices Orange juice prices join the list of products that could see price increases as a result of tariffs imposed by the Trump administration. Bloomberg reports: A US orange juice distributor is suing over President Donald Trump's move to impose a 50% tariff on Brazil starting next month. Johanna Foods Inc. is arguing that Trump's reasons for the levy increase — including support for Brazil's former right-wing President Jair Bolsonaro — don't present 'unusual and extraordinary' threats that give him emergency authority to circumvent Congress' taxing power. The New Jersey-based company estimates that the Brazil tariffs would increase its costs for not-from-concentrate orange juice from Brazil by $68 million over the next 12 months and raise retail costs for consumers between 20-25%. According to the complaint, Brazil supplies more than half of all orange juice sold in the US. Read more here. Brazil acknowledges possibility of no US trade deal by August 1 President Trump's August 1 tariff deadline is steadily approaching, and trading partners are preparing for multiple outcomes. Brazil, for example, is increasingly open to the possibility that a trade deal won't be reached in time. Reuters reported: Read more here. US steelmaker Cleveland-Cliffs touts 'positive impact' of tariffs Cleveland-Cliffs (CLF) CEO Lourenco Goncalves praised President Trump's protectionist policies on Monday, stating that the 25%-50% tariffs on foreign steel imports have had a "positive impact" on the US steel and automotive industries. The Section 232 steel tariffs "have played a significant role in supporting the domestic steel industry," Goncalves said during the company's earnings call. 'So far, there's no indication that the Section 232 tariffs will be used as a bargaining chip by the Trump administration as leverage in trade deals with other countries," Goncalves added. "We appreciate that and fully expect that the administration will keep in place and enforce these Section 232 tariffs." Goncalves said the only place where it's having a problem is with Stelco, the Canadian steel company it acquired in November 2024. The CEO urged Canadian Prime Minister Mark Carney to implement similar protectionist policies, saying that other efforts to curb unfair trade practices were "insufficient." Cleveland-Cliffs stock soared 11% in early trading Monday after the company reported record steel shipments of 4.3 million net tons for the three months ended June 30. Read more about how Cleveland-Cliffs' stock is trading. Bessent: Trump more concerned about quality of deals than making deals by Aug. 1 Treasury Secretary Scott Bessent on Monday said the US wouldn't rush to make trade deals ahead of an Aug. 1 deadline for many of President Trump's sweeping tariffs to kick in. "We're not going to rush for the sake of doing deals," Bessent told CNBC in an interview. More from Reuters: Read more here. More signs that Europe is hardening its stance We detailed earlier (keep scrolling) how the EU is readying its plans for retaliation in case a trade deal with the US fails. The Wall Street Journal has a big report out today with some more details of those plans — and details on how delicate negotiations are on even thinner ice, as President Trump keeps wanting more. The report said the EU got a "surprise" when US officials said Trump would want a higher baseline tariff in any deal, likely north of 15%, after months of talks around a 10% baseline. That apparently prompted Germany, Europe's largest economy, to swing to more of an alignment with France, which has been pushing a harder line throughout the negotiations. 'All options are on the table,' a German official said. The official said there was still time to negotiate a deal but added, 'If they want war, they will get war.' More from the report: Read more here. Stellantis warns of $2.7B loss as tariffs bite Big Three automaker Stellantis (STLA) warned on Monday that it expects a 2.3 billion euro ($2.7 billion) net loss for the first half of 2025, hit by restructuring costs, ebbing sales, and an initial hit from US tariffs. The Chrysler maker's US-listed shares slipped nearly 2% in premarket, mirroring a drop in its stock in Milan. Reuters reports: Read more here. EU to prepare its retaliation plan as US hardens its stance on trade talks EU negotiators are scrambling to make a trade agreement with the US as the Aug. 1 tariff deadline closes in. But they are also stepping up preparations to strike back if the two sides fail to secure a deal. Bloomberg reports: Read more here. President Trump announced overnight that his team and Japan have finally reached a trade deal, which includesa 15% tariff on imported goods from Japan, and the country will invest $550 billion into the US. Trump, who made the announcement during a White House reception with members of Congress and later on Truth Social, called it the "largest trade deal in history" in reference to Japan. The deal wasn't easy to achieve. Japan's Prime Minister Shigeru Ishiba had hoped to speak with Trump at the G-7 meeting back in June, but earlier this month Trump said Japan was "spoiled" and doubted a deal would happen. The two sides have come a long way, with Ishiba remaining stoic yet firm to maintain his country's trust while trying to reach an agreement with the US. Bloomberg News reports: Read more here. Japanese auto stocks surge as US announces lower-than-expected tariffs Shares of Japanese automakers pumped after U.S. President Donald Trump announced a trade deal with Japan, lowering the previously discussed 25% auto tariffs on Japanese vehicles to 15%. Trump hailed the deal as the 'largest Deal ever,' claiming Japan would invest $550 billion in the US and allow greater access to its markets, including for American autos, trucks, and agricultural goods. Honda (HMC) surged 9.8%, Toyota (TM) jumped 13.9%, Nissan (7222.T) gained over 5%, and Mazda (7261.T) soared 17.7%. Mitsubishi Motors (7211.T) rose over 12%. According to Japan's NHK, the revised tariff structure includes a 12.5% cut plus a 2.5% 'Most Favored Nation' base rate. The move comes as Japanese auto exports to the US have suffered, plunging 26.7% in June. Read more here. Shares of Japanese automakers pumped after U.S. President Donald Trump announced a trade deal with Japan, lowering the previously discussed 25% auto tariffs on Japanese vehicles to 15%. Trump hailed the deal as the 'largest Deal ever,' claiming Japan would invest $550 billion in the US and allow greater access to its markets, including for American autos, trucks, and agricultural goods. Honda (HMC) surged 9.8%, Toyota (TM) jumped 13.9%, Nissan (7222.T) gained over 5%, and Mazda (7261.T) soared 17.7%. Mitsubishi Motors (7211.T) rose over 12%. According to Japan's NHK, the revised tariff structure includes a 12.5% cut plus a 2.5% 'Most Favored Nation' base rate. The move comes as Japanese auto exports to the US have suffered, plunging 26.7% in June. Read more here. Trump announces new details on trade pact with Indonesia President Trump and his team released new details of a pact announced last week with Indonesia, confirming plans for a 19% tariff on the country and adding a 40% rate on any 'transhipped' goods. The more complete framework of the deal is further confirmation of an agreement with America's 23rd largest trading partner that will avert 32% tariffs that Trump threatened previously. It also stipulates that 'Indonesia is going to drop its tariffs to 0% on over 99% of its trade,' a senior White House official said Tuesday. The official added that the deal includes the elimination of non-tariff barriers that Trump's team say hinders American companies, including in areas like pre-shipment inspection requirements, motor vehicle safety standards, and restrictions around US medical devices and pharmaceuticals. The exact definition of how Trump defines transshipped goods has been a matter of some debate in recent weeks. The deal with Indonesia includes goods not just re-labeled but made with a significant portion of components from a third country and then assembled in Indonesia. It's a provision also included in a recent deal with Vietnam and is clearly aimed at China. Indonesian negotiators previously confirmed that a deal had been struck but not all details, with the country president's spokesperson telling Reuters the negotiations had been 'an extraordinary struggle.' President Trump and his team released new details of a pact announced last week with Indonesia, confirming plans for a 19% tariff on the country and adding a 40% rate on any 'transhipped' goods. The more complete framework of the deal is further confirmation of an agreement with America's 23rd largest trading partner that will avert 32% tariffs that Trump threatened previously. It also stipulates that 'Indonesia is going to drop its tariffs to 0% on over 99% of its trade,' a senior White House official said Tuesday. The official added that the deal includes the elimination of non-tariff barriers that Trump's team say hinders American companies, including in areas like pre-shipment inspection requirements, motor vehicle safety standards, and restrictions around US medical devices and pharmaceuticals. The exact definition of how Trump defines transshipped goods has been a matter of some debate in recent weeks. The deal with Indonesia includes goods not just re-labeled but made with a significant portion of components from a third country and then assembled in Indonesia. It's a provision also included in a recent deal with Vietnam and is clearly aimed at China. Indonesian negotiators previously confirmed that a deal had been struck but not all details, with the country president's spokesperson telling Reuters the negotiations had been 'an extraordinary struggle.' Trump says US has reached trade deal with the Philippines President Trump said Tuesday the US had reached a trade deal with the Philippines following its president's visit to the White House. He posted on Truth Social: This doesn't seem to move the needle much for the Philippines, whose imports to the US will see a 19% tariff instead of the 20% Trump had threatened from Aug. 1. The Philippines is the US's 29th-largest trade partner. President Trump said Tuesday the US had reached a trade deal with the Philippines following its president's visit to the White House. He posted on Truth Social: This doesn't seem to move the needle much for the Philippines, whose imports to the US will see a 19% tariff instead of the 20% Trump had threatened from Aug. 1. The Philippines is the US's 29th-largest trade partner. Copper-laden ships race to reach US ahead of tariffs Fascinating angle from Bloomberg: Read more here. Fascinating angle from Bloomberg: Read more here. Coca-Cola CFO on tariffs: 'We think we can manage' Coca-Cola's (KO) CFO said the company is managing President Trump's tariffs. "June turned out to be a disappointing month," Coca-Cola CFO John Murphy told Yahoo Finance on Tuesday. He noted that tariffs continue to create uncertainty heading into the second half of the year. "We think we can manage absorbing any of the impacts with the various levers that we have at our disposal. It's always a local decision as to how to utilize those levers, but right now, it's something that we factored into our rest of year guidance." Yahoo Finance's Brooke DiPalma reports that Coca-Cola reported earnings for its second quarter that topped forecasts. Read more here. Coca-Cola's (KO) CFO said the company is managing President Trump's tariffs. "June turned out to be a disappointing month," Coca-Cola CFO John Murphy told Yahoo Finance on Tuesday. He noted that tariffs continue to create uncertainty heading into the second half of the year. "We think we can manage absorbing any of the impacts with the various levers that we have at our disposal. It's always a local decision as to how to utilize those levers, but right now, it's something that we factored into our rest of year guidance." Yahoo Finance's Brooke DiPalma reports that Coca-Cola reported earnings for its second quarter that topped forecasts. Read more here. Bessent says he will meet Chinese officials, discuss tariff deadline extension US Treasury Secretary Scott Bessent told Fox Business on Tuesday that he plans to meet his Chinese counterpart next week and discuss an extension of an August 12 deadline for higher tariffs. Both China and the US reached a trade truce in London last month to prevent escalating tariffs. Reuters reports: Read more here. US Treasury Secretary Scott Bessent told Fox Business on Tuesday that he plans to meet his Chinese counterpart next week and discuss an extension of an August 12 deadline for higher tariffs. Both China and the US reached a trade truce in London last month to prevent escalating tariffs. Reuters reports: Read more here. RTX cuts 2025 profit forecast as tariff costs weigh US aerospace and defense giant RTX (RTX) cut its 2025 profit forecast on Tuesday, citing President Trump's trade war as the major reason. Shares of the company fell 3% in premarket trading. Reuters reports: Read more here. US aerospace and defense giant RTX (RTX) cut its 2025 profit forecast on Tuesday, citing President Trump's trade war as the major reason. Shares of the company fell 3% in premarket trading. Reuters reports: Read more here. GM's core profit slides in second quarter as Trump's tariffs bite Tariffs have started to hit US automaker General Motors (GM), who reported a fall in second quarter core profit of 32% to $3 billion on Tuesday. The automaker said tariffs have sapped $1.1 billion from results as it continues to grapple with President Trump's challenging trade war. Reuters reports: Read more here. Tariffs have started to hit US automaker General Motors (GM), who reported a fall in second quarter core profit of 32% to $3 billion on Tuesday. The automaker said tariffs have sapped $1.1 billion from results as it continues to grapple with President Trump's challenging trade war. Reuters reports: Read more here. Canadian boycott of US spirits hurts broader alcohol sales: Trade group American imports to Canada have dropped sharply due to Canadian provinces' boycott of US spirits amid the ongoing trade war with the United States, according to a Canadian liquor trade group. Reuters reports: Read more here. American imports to Canada have dropped sharply due to Canadian provinces' boycott of US spirits amid the ongoing trade war with the United States, according to a Canadian liquor trade group. Reuters reports: Read more here. AstraZeneca announces $50B US manufacturing investment, matching its big pharma peers Pharmaceutical giant, AstraZeneca (AZN) announced it plans to invest $50 billion in US manufacturing by 2030, in the hopes it will avoid steep tariffs on imported components manufactured abroad. Yahoo Finance's senior reporter Anjalee Khemlani looks at how AstraZeneca's latest US investment keeps pace with its big pharma rivals. Read more here Pharmaceutical giant, AstraZeneca (AZN) announced it plans to invest $50 billion in US manufacturing by 2030, in the hopes it will avoid steep tariffs on imported components manufactured abroad. Yahoo Finance's senior reporter Anjalee Khemlani looks at how AstraZeneca's latest US investment keeps pace with its big pharma rivals. Read more here Trump targeting trade loopholes risks 70% of China exports to US China's growth could be eroded due to President Trump's efforts to target the country via its trading partners across global supply chains, according to Bloomberg Economics. China is using other countries like Vietnam and Mexico more to make products for the US, a trend that accelerated after Trump's first trade war. China's share of total value- added manufacturing of goods destined for the US via Vietnam and Mexico surged 22% in 2023 from 14% in 2017. Bloomberg News reports: Read more here. China's growth could be eroded due to President Trump's efforts to target the country via its trading partners across global supply chains, according to Bloomberg Economics. China is using other countries like Vietnam and Mexico more to make products for the US, a trend that accelerated after Trump's first trade war. China's share of total value- added manufacturing of goods destined for the US via Vietnam and Mexico surged 22% in 2023 from 14% in 2017. Bloomberg News reports: Read more here. India-US interim trade deal prospects dim ahead of tariff deadline: Sources Hopes for a US-India trade deal before the August 1 deadline are fading, with talks stuck over cuts to farm and dairy tariffs, according to sources. Reuters reports: Read more here. Hopes for a US-India trade deal before the August 1 deadline are fading, with talks stuck over cuts to farm and dairy tariffs, according to sources. Reuters reports: Read more here. Orange juice importer says Trump's Brazil tariffs will raise US prices Orange juice prices join the list of products that could see price increases as a result of tariffs imposed by the Trump administration. Bloomberg reports: A US orange juice distributor is suing over President Donald Trump's move to impose a 50% tariff on Brazil starting next month. Johanna Foods Inc. is arguing that Trump's reasons for the levy increase — including support for Brazil's former right-wing President Jair Bolsonaro — don't present 'unusual and extraordinary' threats that give him emergency authority to circumvent Congress' taxing power. The New Jersey-based company estimates that the Brazil tariffs would increase its costs for not-from-concentrate orange juice from Brazil by $68 million over the next 12 months and raise retail costs for consumers between 20-25%. According to the complaint, Brazil supplies more than half of all orange juice sold in the US. Read more here. Orange juice prices join the list of products that could see price increases as a result of tariffs imposed by the Trump administration. Bloomberg reports: A US orange juice distributor is suing over President Donald Trump's move to impose a 50% tariff on Brazil starting next month. Johanna Foods Inc. is arguing that Trump's reasons for the levy increase — including support for Brazil's former right-wing President Jair Bolsonaro — don't present 'unusual and extraordinary' threats that give him emergency authority to circumvent Congress' taxing power. The New Jersey-based company estimates that the Brazil tariffs would increase its costs for not-from-concentrate orange juice from Brazil by $68 million over the next 12 months and raise retail costs for consumers between 20-25%. According to the complaint, Brazil supplies more than half of all orange juice sold in the US. Read more here. Brazil acknowledges possibility of no US trade deal by August 1 President Trump's August 1 tariff deadline is steadily approaching, and trading partners are preparing for multiple outcomes. Brazil, for example, is increasingly open to the possibility that a trade deal won't be reached in time. Reuters reported: Read more here. President Trump's August 1 tariff deadline is steadily approaching, and trading partners are preparing for multiple outcomes. Brazil, for example, is increasingly open to the possibility that a trade deal won't be reached in time. Reuters reported: Read more here. US steelmaker Cleveland-Cliffs touts 'positive impact' of tariffs Cleveland-Cliffs (CLF) CEO Lourenco Goncalves praised President Trump's protectionist policies on Monday, stating that the 25%-50% tariffs on foreign steel imports have had a "positive impact" on the US steel and automotive industries. The Section 232 steel tariffs "have played a significant role in supporting the domestic steel industry," Goncalves said during the company's earnings call. 'So far, there's no indication that the Section 232 tariffs will be used as a bargaining chip by the Trump administration as leverage in trade deals with other countries," Goncalves added. "We appreciate that and fully expect that the administration will keep in place and enforce these Section 232 tariffs." Goncalves said the only place where it's having a problem is with Stelco, the Canadian steel company it acquired in November 2024. The CEO urged Canadian Prime Minister Mark Carney to implement similar protectionist policies, saying that other efforts to curb unfair trade practices were "insufficient." Cleveland-Cliffs stock soared 11% in early trading Monday after the company reported record steel shipments of 4.3 million net tons for the three months ended June 30. Read more about how Cleveland-Cliffs' stock is trading. Cleveland-Cliffs (CLF) CEO Lourenco Goncalves praised President Trump's protectionist policies on Monday, stating that the 25%-50% tariffs on foreign steel imports have had a "positive impact" on the US steel and automotive industries. The Section 232 steel tariffs "have played a significant role in supporting the domestic steel industry," Goncalves said during the company's earnings call. 'So far, there's no indication that the Section 232 tariffs will be used as a bargaining chip by the Trump administration as leverage in trade deals with other countries," Goncalves added. "We appreciate that and fully expect that the administration will keep in place and enforce these Section 232 tariffs." Goncalves said the only place where it's having a problem is with Stelco, the Canadian steel company it acquired in November 2024. The CEO urged Canadian Prime Minister Mark Carney to implement similar protectionist policies, saying that other efforts to curb unfair trade practices were "insufficient." Cleveland-Cliffs stock soared 11% in early trading Monday after the company reported record steel shipments of 4.3 million net tons for the three months ended June 30. Read more about how Cleveland-Cliffs' stock is trading. Bessent: Trump more concerned about quality of deals than making deals by Aug. 1 Treasury Secretary Scott Bessent on Monday said the US wouldn't rush to make trade deals ahead of an Aug. 1 deadline for many of President Trump's sweeping tariffs to kick in. "We're not going to rush for the sake of doing deals," Bessent told CNBC in an interview. More from Reuters: Read more here. Treasury Secretary Scott Bessent on Monday said the US wouldn't rush to make trade deals ahead of an Aug. 1 deadline for many of President Trump's sweeping tariffs to kick in. "We're not going to rush for the sake of doing deals," Bessent told CNBC in an interview. More from Reuters: Read more here. More signs that Europe is hardening its stance We detailed earlier (keep scrolling) how the EU is readying its plans for retaliation in case a trade deal with the US fails. The Wall Street Journal has a big report out today with some more details of those plans — and details on how delicate negotiations are on even thinner ice, as President Trump keeps wanting more. The report said the EU got a "surprise" when US officials said Trump would want a higher baseline tariff in any deal, likely north of 15%, after months of talks around a 10% baseline. That apparently prompted Germany, Europe's largest economy, to swing to more of an alignment with France, which has been pushing a harder line throughout the negotiations. 'All options are on the table,' a German official said. The official said there was still time to negotiate a deal but added, 'If they want war, they will get war.' More from the report: Read more here. We detailed earlier (keep scrolling) how the EU is readying its plans for retaliation in case a trade deal with the US fails. The Wall Street Journal has a big report out today with some more details of those plans — and details on how delicate negotiations are on even thinner ice, as President Trump keeps wanting more. The report said the EU got a "surprise" when US officials said Trump would want a higher baseline tariff in any deal, likely north of 15%, after months of talks around a 10% baseline. That apparently prompted Germany, Europe's largest economy, to swing to more of an alignment with France, which has been pushing a harder line throughout the negotiations. 'All options are on the table,' a German official said. The official said there was still time to negotiate a deal but added, 'If they want war, they will get war.' More from the report: Read more here. Stellantis warns of $2.7B loss as tariffs bite Big Three automaker Stellantis (STLA) warned on Monday that it expects a 2.3 billion euro ($2.7 billion) net loss for the first half of 2025, hit by restructuring costs, ebbing sales, and an initial hit from US tariffs. The Chrysler maker's US-listed shares slipped nearly 2% in premarket, mirroring a drop in its stock in Milan. Reuters reports: Read more here. Big Three automaker Stellantis (STLA) warned on Monday that it expects a 2.3 billion euro ($2.7 billion) net loss for the first half of 2025, hit by restructuring costs, ebbing sales, and an initial hit from US tariffs. The Chrysler maker's US-listed shares slipped nearly 2% in premarket, mirroring a drop in its stock in Milan. Reuters reports: Read more here. EU to prepare its retaliation plan as US hardens its stance on trade talks EU negotiators are scrambling to make a trade agreement with the US as the Aug. 1 tariff deadline closes in. But they are also stepping up preparations to strike back if the two sides fail to secure a deal. Bloomberg reports: Read more here. EU negotiators are scrambling to make a trade agreement with the US as the Aug. 1 tariff deadline closes in. But they are also stepping up preparations to strike back if the two sides fail to secure a deal. Bloomberg reports: Read more here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time Business News
8 minutes ago
- Time Business News
Dentist's Guide To SEO Success: Winning The Local Search Game
People today find their next dentist through searching Google rather than talking with friends; when people in your local area cannot easily locate your dental practice in search results, you could lose out on new customers and this is where local SEO comes in handy – designed specifically to promote brick-and-mortar businesses like dental clinics so when someone near them searches 'dentist near me' or 'teeth cleaning in [your city], your practice ranks highly among search results. Your practice can gain control of local search results, increase online visibility and ultimately fill more appointment Place with help from dental SEO experts. This guide explains what local SEO is, why its importance to dentists and how you can begin using it for long-term results. What Are The Fundamental Elements Of SEO For Local Businesses? SEO for local businesses refers to the practice of increasing their online visibility among those searching for services similar to yours in their area, like dental care services on Google searches. That way, when someone in your locality looks up dental services on Google they should easily be able to locate you! Enhance your Google Business Profile, use relevant keywords specific to your area, obtain positive reviews from satisfied customers and ensure all online directories reflect accurate listings for local citations and listings for local directories are in sync. General SEO involves getting traffic from all across the internet; local SEO aims at getting noticed in local neighborhoods where patients reside and search. Why Local SEO Is Important For Dentists Imagine someone searching online for emergency dentists nearby but failing to locate your clinic on the first page or Google Map pack; otherwise, that patient might end up going with one of your competitors with better SEO plans instead. Local SEO has long been seen as an essential strategy, particularly with more people turning to mobile search and voice assistants for information, making it even more imperative that practices can easily be found online. Here is why local SEO matters: Enhance visibility : Appear on Google Maps and the 'local pack' results pages, increasing exposure. : Appear on Google Maps and the 'local pack' results pages, increasing exposure. An Increased Conversion: Local searches bring in more visitors when people look up your office online. Local searches bring in more visitors when people look up your office online. Trust building : Establishing yourself locally by earning positive reviews strengthens trustworthiness. : Establishing yourself locally by earning positive reviews strengthens trustworthiness. Advantage over competitors: Since many dental offices still don't fully embrace SEO, giving your office an advantage is an area. Dentist SEO Strategies Are an Essential Component Here are the main services provided by SEO experts to increase practice visibility: 1. Improve Your Google Business Profile (GBP) One of the easiest and best ways to boost local SEO is setting up a Google Business Profile for your company. Make sure your profile meets these criteria: Completely filled out (hours of operation, services provided, photos). Updates are provided promptly, and positive patient reviews are provided. Utilising keywords strategically when writing business descriptions. Google examines your practice profile to assess its relevancy for local searches. The more accurate and thorough it is, the higher its chance is of appearing in map packs. 2. Solicit and Respond to Reviews Reviews from patients play an integral part of how well websites rank. Always respond to reviews, whether to thank reviewers for leaving one or address concerns they raise. Encourage happy patients to leave reviews on Google for each successful visit they experience with your practice – reviews not only help boost rankings but can also convince new patients to choose you! 3. Create Content That Reflects the Area Where Your Company Is Operating Writing blog articles like 'Best Dental Practices for Families in [Your City]' or 'What to Expect From Our [City] Clinic on Their First Visit' makes your blog more pertinent to locals in your community and will pique prospective patients interest. Writing about things relevant to them cements you as the expert of that subject area. Final Thoughts Success at local search can't just depend on luck; rather it relies on strategy, consistency and understanding what search engines and patients want from you. By conducting SEO properly for dental practices, they can get listed near the top of local search results to attract new patients while building their reputation and appearing prominently among search results pages. To keep your clinic competitive in an already saturated market, hire experienced dental SEO experts. Your goal should be for people searching for trusted local dentists online to click directly onto your name as the first result they see and the one they click upon first. TIME BUSINESS NEWS
