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The Hindu
2 hours ago
- The Hindu
U.S., E.U. reach an 'across the board' agreement on tariffs
The United States and the European Union reached a tariff deal Sunday (July 27, 2025) after a brief meeting between President Donald Trump and European Commission chief Ursula von der Leyen. A White House deadline was days away for imposing punishing import taxes on the 27-member E.U., which is America's leading global trading partner. 'It was a very interesting negotiation. I think it's going to be great for both parties,' Mr. Trump said. The make-or-break talks were meant to head off trade penalties — and promised retaliation from Europe — that could have sent shock waves through economies around the globe. Mr. Trump and Ms. Von der Leyen held private talks at one of Mr. Trump's golf courses in Scotland, then emerged a short time later saying they had reached an 'across the board' agreement. In remarks before the session, Mr. Trump pledged to change what he characterised as 'a very one-sided transaction, very unfair to the United States.' 'I think the main sticking point is fairness,' he said while also noting, 'We've had a hard time with trade with Europe, a very hard time.' Ms. Von der Leyen had said the U.S. and E.U. combined have the world's largest trade volume, encompassing hundreds of millions of people and trillions of dollars. Trump said the stakes involved meant of making a deal, 'We should give it a shot.' Ms. Von der Leyen said Mr. Trump was 'known as a tough negotiator and dealmaker' which caused the president to interject with 'but fair." She said that, if they are successful, 'I think it would be the biggest deal each of us has ever struck.' For months, Mr. Trump has threatened most of the world with large tariffs in hopes of shrinking major U.S. trade deficits with many key trading partners. More recently, he had hinted that any deal with the EU would have to 'buy down' the currently scheduled tariff rate of 30%. The Republican president pointed to a recent U.S. agreement with Japan that set tariff rates for many goods at 15% and suggested the E.U. could agree to something similar. Asked if he would be willing to accept tariff rates lower than that, Mr. Trump said 'no.' As for the threat of retaliation from the Europeans, he said: 'They'll do what they have to do.' Their meeting came after Mr. Trump played golfed for the second straight day at his Turnberry course, this time with a group that included sons Eric and Donald Jr. The President's five-day visit to Scotland is built around golf and promoting properties bearing his name. A small group of demonstrators at the course waved American flags and raised a sign criticizing British Prime Minister Keir Starmer, who plans his own Turnberry meeting with Mr. Trump on Monday. Other voices could be heard cheering and chanting 'Trump! Trump!' as he played nearby. On Tuesday, Mr. Trump will be in Aberdeen, in northeastern Scotland, where his family has another golf course and is opening a third next month. The President and his sons plan to help cut the ribbon on the new course. Joining Ms. Von der Leyen were Maros Sefcovic, the E.U.'s chief trade negotiator; Björn Seibert, the head of Ms. Von der Leyen's Cabinet; Sabine Weyand, the commission's directorate-general for trade, and Tomas Baert, head of the trade and agriculture at the EU's delegation to the US. The deadline for the Mr. Trump administration to begin imposing tariffs has shifted in recent weeks but was now firm, the administration insisted. 'No extensions, no more grace periods. August 1, the tariffs are set, they'll go into place, Customs will start collecting the money and off we go," US Commerce Secretary Howard Lutnick told 'Fox News Sunday.' He added, however, that even after that 'people can still talk to President Trump. I mean, he's always willing to listen.' Without an agreement, the EU said it was prepared to retaliate with tariffs on hundreds of American products, ranging from beef and auto parts to beer and Boeing airplanes. If Mr. Trump eventually made good on his threat of tariffs against Europe, it could meant that everything from French cheese and Italian leather goods to German electronics and Spanish pharmaceuticals would be more expensive in the United States. The U.S. and Britain, meanwhile, announced a trade framework in May and a larger agreement last month during the Group of Seven meeting in Canada. Mr. Trump says that deal is concluded and that he and Mr. Starmer will discuss other matters — though the White House has suggested it still needs some polishing.
NDTV
3 hours ago
- NDTV
"Need To Relook At Our History": Economist As PM Offers Prayers At Iconic Cholapuram Temple
New Delhi: Prime Minister Narendra Modi's visit to the Gangaikonda Cholapuram Shiva temple, has put the spotlight on the Chola empire, especially on the time of Rajendra Chola, who stood tall when northern India was under Muslim rule. This, however, was not an area or a period that gets much attention -- the study of history being "Delhi-centric", said economist and historian Sanjeev Sanyal, pointing to the big takeaway from the Prime Minister's visit. "We need to begin to relook at our history and think about our great ancestors as a vigorous people," said Mr Sanyal, explaining that the popular conception of Indians as a passive people who are thankful to invaders -- from Muslim to British -- for bringing in technology, culture and cuisine. Our ancestors, he said, "built great temples, they built entire new cities when necessary". "This is a much more vigorous view of ourselves than, you know, we are waiting for somebody to conquer us and give us the railways," said Mr Sanyal, who is also the Principal Economic Advisor to the government. "These were vigorous, risk-taking people, happy to go to war with each other sometimes or with foreign invaders. But the point is, this were not a passive people. And instead, the only person in our history of our, you know, pre-Islamic history that we celebrate is Ashoka. And the only reason we celebrate him is because he was passive, because the empire collapsed under him," he added. He said he was "glad the Cholas are being celebrated," but they were not the only people who had left their mark on the history of southeast Asia. "Even Tamil Nadu itself has many others. The Pandyas, the Cheras, which are from next door in Kerala, the Pallavas, and then the Gajapatis and all the kings of Kalinga, who also had these great maritime linkages to Southeast Asia. The western coast of India has amazing history of links with the Roman Empire and so on," he said. Even in the north, there was more than what gets most attention. "Whether you have the Ahoms of Assam or the Pal dynasty and the Sen-s of Bengal or the Kadambas of Goa or the Chalukyas of Maharashtra and the Rashtrakutas, we all have amazing histories for every part of the country. But somehow we are obsessed with this Delhi-centric view that, you know, we should all be grateful to the Mughals for biryani," he added. The Cholapuram temple, a UNESCO World Heritage site built around 1030 by Rajendra Chola, stands as evidence of the affluence of the of the empire under him. It was built around two decades after the Tanjore temple and in the same style. The Prime Minister's visit comes ahead of next year's assembly election in Tamil Nadu, where the BJP is trying hard to carve out a niche.
News18
3 hours ago
- News18
US, EU reach an across the board agreement on tariffs
Edinburgh(UK), Jul 27(AP) The United States and the European Union reached a tariff deal Sunday after a brief meeting between President Donald Trump and European Commission chief Ursula von der Leyen. A White House deadline was days away for imposing punishing import taxes on the 27-member EU, which is America's leading global trading partner. 'It was a very interesting negotiation. I think it's going to be great for both parties," Trump said. The make-or-break talks were meant to head off trade penalties — and promised retaliation from Europe — that could have sent shock waves through economies around the globe. Trump and von der Leyen held private talks at one of Trump's golf courses in Scotland, then emerged a short time later saying they had reached an 'across the board" agreement. In remarks before the session, Trump pledged to change what he characterised as 'a very one-sided transaction, very unfair to the United States." 'I think the main sticking point is fairness," he said while also noting, 'We've had a hard time with trade with Europe, a very hard time." Von der Leyen had said the US and EU combined have the world's largest trade volume, encompassing hundreds of millions of people and trillions of dollars. Trump said the stakes involved meant of making a deal, 'We should give it a shot." Von der Leyen said Trump was 'known as a tough negotiator and dealmaker" which caused the president to interject with "but fair." She said that, if they are successful, 'I think it would be the biggest deal each of us has ever struck." For months, Trump has threatened most of the world with large tariffs in hopes of shrinking major US trade deficits with many key trading partners. More recently, he had hinted that any deal with the EU would have to 'buy down" the currently scheduled tariff rate of 30 per cent. The Republican president pointed to a recent US agreement with Japan that set tariff rates for many goods at 15 per cent and suggested the EU could agree to something similar. Asked if he would be willing to accept tariff rates lower than that, Trump said 'no." As for the threat of retaliation from the Europeans, he said: 'They'll do what they have to do." Their meeting came after Trump played golfed for the second straight day at his Turnberry course, this time with a group that included sons Eric and Donald Jr The president's five-day visit to Scotland is built around golf and promoting properties bearing his name. A small group of demonstrators at the course waved American flags and raised a sign criticizing British Prime Minister Keir Starmer, who plans his own Turnberry meeting with Trump on Monday. Other voices could be heard cheering and chanting 'Trump! Trump!" as he played nearby. On Tuesday, Trump will be in Aberdeen, in northeastern Scotland, where his family has another golf course and is opening a third next month. The president and his sons plan to help cut the ribbon on the new course. Joining von der Leyen were Maros Sefcovic, the EU's chief trade negotiator; Björn Seibert, the head of von der Leyen's Cabinet; Sabine Weyand, the commission's directorate-general for trade, and Tomas Baert, head of the trade and agriculture at the EU's delegation to the US. The deadline for the Trump administration to begin imposing tariffs has shifted in recent weeks but was now firm, the administration insisted. 'No extensions, no more grace periods. August 1, the tariffs are set, they'll go into place, Customs will start collecting the money and off we go," US Commerce Secretary Howard Lutnick told 'Fox News Sunday." He added, however, that even after that 'people can still talk to President Trump. I mean, he's always willing to listen." Without an agreement, the EU said it was prepared to retaliate with tariffs on hundreds of American products, ranging from beef and auto parts to beer and Boeing airplanes. If Trump eventually made good on his threat of tariffs against Europe, it could meant that everything from French cheese and Italian leather goods to German electronics and Spanish pharmaceuticals would be more expensive in the United States. The US and Britain, meanwhile, announced a trade framework in May and a larger agreement last month during the Group of Seven meeting in Canada. Trump says that deal is concluded and that he and Starmer will discuss other matters — though the White House has suggested it still needs some polishing. (AP) RD RD view comments First Published: July 27, 2025, 23:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
