'We'll pay $200M': Columbia announces deal with Trump to settle dispute over anti-Semitism claims
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Economic Times
9 minutes ago
- Economic Times
U.S. EU trade deal: Donald Trump slaps 15 per cent tariffs on European goods, auto. What is new in it? Is China next?
US-Europe Trade Deal US-EU Tariffs Live Events USA-China Trade Deal Nearing? FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel US President Donald Trump and EU chief Ursula von der Leyen Sunday announced they had reached a deal to end a transatlantic tariffs standoff and avert a full-blown trade war. The agreement came as the clock ticked down on an August 1 deadline for the European Union to strike a deal with Washington -- or face an across-the-board US levy of 30 percent. Trump told reporters the deal involved a baseline levy of 15 percent on EU exports to the United States -- the same level secured by Japan -- including for the bloc's crucial auto sector, which is currently being taxed at 25 percent. Now all eyes are on the world's second largest economy - US President also said the bloc had agreed to purchase "$750 billion worth of energy" from the United States, as well as $600 billion more in additional investments in the country. Negotiating on behalf of the EU's 27 countries, von der Leyen's European Commission had been pushing hard to salvage a trading relationship worth an annual $1.9 trillion in goods and EU has been hit by multiple waves of tariffs since Trump reclaimed the White House. It is currently subject to a 25-percent levy on cars, 50 percent on steel and aluminium, and an across-the-board tariff of 10 percent, which Washington threatens to hike to 30 percent in a no-deal 15 percent would be much higher than pre-existing US tariffs on European goods, which average around 4.8 percent, it would mirror the status quo, with companies currently facing an additional flat rate of 10 the talks failed, EU states had greenlit counter tariffs on $109 billion (93 billion euros) of US goods including aircraft and cars to take effect in stages from August 7. Brussels was also drawing up a list of US services to potentially has embarked on a campaign to reshape US trade with the world, and has vowed to hit dozens of countries with punitive tariffs if they do not reach a pact with Washington by August 1. US Commerce Secretary Howard Lutnick had said Sunday the August 1 deadline was firm and there will be "no extensions, no more grace periods".U.S. President Donald Trump said on Sunday his administration was close to reaching a trade deal with China, but gave no other details. "We're very close to a deal with China. We really sort of made a deal with China, but we'll see how that goes," Trump told reporters at the start of a meeting with European Commission President Ursula von der Leyen in Scotland.A1. While 15 percent would be much higher than pre-existing US tariffs on European goods, which average around 4.8 percent, it would mirror the status quo, with companies currently facing an additional flat rate of 10 percent.A2. US President Donald Trump also said the bloc had agreed to purchase "$750 billion worth of energy" from the United States, as well as $600 billion more in additional investments in the country.
NDTV
9 minutes ago
- NDTV
Video: Man Shouts "Going To Bomb The Plane" Mid-Air, Arrested In Scotland
A man has been arrested for causing a disturbance on an Easyjet flight from London Luton Airport to Glasgow. A video that has gone viral on social media shows the man shouting "I am going to bomb the plane". He was also heard saying "death to America, death to Trump" and Allahu Akbar (God is Great in Arabic)". A male passenger was then seen tackling him to the ground. Police boarded the aircraft after it landed in Glasgow and arrested the man. 'DEATH to Trump' and 'ALLAHU AKBAR' — man causes panic on flight Says he's going to 'BOMB the plane' SLAMMED to ground by passenger — RT (@RT_com) July 27, 2025 "Officers boarded the plane on its arrival and a 41-year-old man was arrested and remains in custody. Enquiries are continuing," the Scotland Police said. They also said that counter terrorism officers were assessing the videos circulating online. As per a report by the Glasgow Times, the airline said the "safety of the flight and other customers was not compromised at any time". US President Donald Trump, meanwhile, is also in Scotland, where he announced that he has reached a deal with EU chief Ursula von der Leyen to end a transatlantic tariffs standoff and avert a full-blown trade war.
NDTV
12 minutes ago
- NDTV
US Says Tariff Deadline Of August 1 Is Firm, No Extensions
The US deadline of August 1 for imposing tariffs on its trading partners is firm and there will be no extensions, Commerce Secretary Howard Lutnick said Sunday. "So, no extensions, no more grace periods. On August 1, the tariffs are set. They'll go into place. Customs will start collecting the money, and off we go," Lutnick told "Fox News Sunday." After the levies kick in, President Donald Trump -- who was negotiating Sunday in Scotland with European Union officials -- is still willing to keep talking, Lutnick said. Of the Europeans, Lutnick said, "You know they're hoping they make a deal, and it's up to President Trump, who's the leader of this negotiating table. We set the table." So far, five countries have struck deals with the Trump administration ahead of the Friday deadline as it tries to overhaul the global system of largely free trade by slapping tariffs on countries that the United States deems as engaging in unfair practices. These five are Britain, Vietnam, Indonesia, the Philippines, and Japan. The levies they accepted are often higher than the new base rate of 10 per cent that the United States has applied to most countries since April. But they are far below the levels the Trump administration threatened to impose if no deal were reached.
