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Prospects for peace and World Cup lift mood in DR Congo – DW – 07/10/2025
Prospects for peace and World Cup lift mood in DR Congo – DW – 07/10/2025

DW

time6 days ago

  • Sport
  • DW

Prospects for peace and World Cup lift mood in DR Congo – DW – 07/10/2025

A new sense of hope is in the air the DR Congo, fueled by a recent peace deal and the prospect of qualifying for the 2026 World Cup. These are busy times for football in the Democratic Republic of Congo. The women's team are playing in the African Cup of Nations (WAFCON) for the first time since 2012 while the men are currently top of their qualification group for the 2026 World Cup, putting them on course for a first appearance on the global stage since 1974. Off the pitch, there is also encouraging news. If a peace deal that was signed in June between the country and neighboring Rwanda holds, enduring violence could recede and citizens could have a fresh chance to play or watch sport. The eastern region of the 11th biggest country in the world has been dogged by violence for the past 30 years, which has, according to the Council on Foreign Relations, resulted in the deaths of approximately six million people. Fighting escalated earlier this year as M23, a rebel paramilitary group that, according to the Congo and the United Nations, is backed by Rwanda, made inroads against the Congolese army. Details of the peace plan, brokered by the United States, may be currently vague with concerns over whether it can hold and the low levels of trust between the two parties, but the prospect of stability is a welcome one. "Congo is one of the most mineral-rich countries in the world," Murithi Mutiga, Africa Program Director at the International Crisis Group, told DW. "One hopes that eventually this [peace deal] will be implemented and with luck and also concerted diplomatic efforts, that Congo may reach its potential." If the fighting stops, football can continue all over the country. "In terms of the national game, a peace deal needs to be sorted because a number of the clubs that are based in the east of the country have not been able to play as a result of the recent conflict and invasion," Guy Burton, an international research analyst on conflict and peace, told DW. "Ultimately for the game to flourish, you need to have stability, you need to have peace. When war is happening, the priority is just to survive." Peace is just a start. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video "Provided it is followed by concrete and sustainable implementation, the state and investors can better finance the rehabilitation of stadiums, community fields, and training centers," Francisco Mulonga, president of football club Sporting Club de Kinshasa, told DW. "Regions formerly at war could finally benefit from real sports facilities." Greater opportunities in cities such as Goma, which lies near the border with Rwanda, would give young men a choice and a brighter future that involves kicking a ball and not picking up a gun or getting involved in crime. "Football can really help young men turn away from violence and adopt a healthier lifestyle through sport, especially in contexts marked by poverty, idleness, or social tensions," Mulonga added. "Playing football fosters the creation of strong social bonds between young people from different backgrounds. Football is a model of hope and ambition." Reaching the 2026 World Cup could be a game-changer. Even amid instability at home, DR Congo is top of its qualification group, with Senegal and Sudan close behind and just four games remaining. DR Congo faces those two teams on home soil later this year in what should be decisive clashes. "If the men's team qualifies, people will look more at Congo, to come and invest and help the kids," Ricardo Eluka, founder of Espoir Football Academy in Kinshasa, which he set up to help young people fulfil their dreams, told DW. There is enough natural ability in the country to shine and join continental teams that often appear at the big tournaments. "Congo has the same level of talent as the Nigerian team, Ghana and Senegal. We have these kinds of players but we don't have the money to come and invest," said Eluka. "If we had more money coming, football in Congo would be huge." More investment at grassroots, in facilities and in the clubs would help the country produce more players such as Chancel Mbemba who has appeared almost 100 times for the national team and played at prestigious European clubs such as Newcastle United, Porto and Marseille, as well as forward Cedric Bakambu. "Qualification for the World Cup would have a very positive and structuring impact on Congolese football on several levels: sporting, economic, social, and even political,' said Mulonga. "The DRC would benefit from global visibility, which could improve its diplomatic, cultural, and economic image. It could also facilitate the export of Congolese players to top-tier foreign clubs." The women have longer to go, however, and were eliminated from the WAFCON with a game left to play. Here the natural resources are just as great but the infrastructure and support, according to national team captain Fideline N'goy, is lacking. "There is great talent and a desire among young girls to play the sport, but there is no decent coaching to develop their talents: no training centers, no fields, and no projects from the federation," N'goy told DW. The goalkeeper contrasts the situation with Cameroon and Morocco where, she says, FIFA prize money goes back into the women's game and South Africa where the women are paid almost as much as the men. "In our country, the winners of the women's championship earn US $10,000 (€8500), while the men's earn US$150,000." It may be left for the women to do it themselves, to achieve international success in order to help those back at home. "If the women play well, we will have more female students," Eluka said. "The problem in Congo, there is no investment made, no facilities for the ladies to practice and get better." It remains to be seen how the men getting to the World Cup would help the women's game but it would certainly be celebrated in a country that has not had much to celebrate in recent years. "Football is almost a national religion in Congo," said Mitiga. "If it qualifies for the World Cup as it seems well-poised to do, it will really energize and electrify the nation and it will bring people together."

Potential peace and World Cup spot spark hope for DR Congo – DW – 07/10/2025
Potential peace and World Cup spot spark hope for DR Congo – DW – 07/10/2025

DW

time6 days ago

  • Sport
  • DW

Potential peace and World Cup spot spark hope for DR Congo – DW – 07/10/2025

A new sense of hope is in the air the DR Congo is fueled by a recent peace deal and the impact of potentially qualifying for the 2026 World Cup. These are busy times for football in the Democratic Republic of Congo. The women's team are playing in the African Cup of Nations (WAFCON) for the first time since 2012 while the men are currently top of their qualification group for the 2026 World Cup, putting them on course for a first appearance on the global stage since 1974. Off the pitch, there is also encouraging news. If a peace deal that was signed in June between the country and neighboring Rwanda holds, the sport could reach new levels. The eastern region of the 11th biggest country in the world has been dogged by violence for the past 30 years, which has, according to the Council on Foreign Relations, resulted in the deaths of approximately six million people. Fighting escalated earlier this year as M23, a rebel paramilitary group that, according to the Congo and the United Nations, is backed by Rwanda, made inroads against the Congolese army. Details of the peace plan, brokered by the United States, may be currently vague with concerns over whether it can hold and the low levels of trust between the two parties, but the prospect of stability is a welcome one. "Congo is one of the most mineral-rich countries in the world," Murithi Mutiga, Africa Program Director at the International Crisis Group, told DW. "One hopes that eventually this [peace deal] will be implemented and with luck and also concerted diplomatic efforts, that Congo may reach its potential." If the fighting stops, football can continue all over the country. "In terms of the national game, a peace deal needs to be sorted because a number of the clubs that are based in the east of the country have not been able to play as a result of the recent conflict and invasion," Guy Burton, an international research analyst on conflict and peace, told DW. "Ultimately for the game to flourish, you need to have stability, you need to have peace. When war is happening, the priority is just to survive." Peace is just a start. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video "Provided it is followed by concrete and sustainable implementation, the state and investors can better finance the rehabilitation of stadiums, community fields, and training centers," Francisco Mulonga, president of football club Sporting Club de Kinshasa, told DW. "Regions formerly at war could finally benefit from real sports facilities." Greater opportunities in cities such as Goma, which lies near the border with Rwanda, would give young men a choice and a brighter future that involves kicking a ball and not picking up a gun or getting involved in crime. "Football can really help young men turn away from violence and adopt a healthier lifestyle through sport, especially in contexts marked by poverty, idleness, or social tensions," Mulonga added. "Playing football fosters the creation of strong social bonds between young people from different backgrounds. Football is a model of hope and ambition." Reaching the 2026 World Cup could be a game-changer. Even amid instability at home, DR Congo is top of its qualification group, with Senegal and Sudan close behind and just four games remaining. DR Congo faces those two teams on home soil later this year in what should be decisive clashes. "If the men's team qualifies, people will look more at Congo, to come and invest and help the kids," Ricardo Eluka, founder of Espoir Football Academy in Kinshasa, which he set up to help young people fulfil their dreams, told DW. There is enough natural ability in the country to shine and join continental teams that often appear at the big tournaments. "Congo has the same level of talent as the Nigerian team, Ghana and Senegal. We have these kinds of players but we don't have the money to come and invest," said Eluka. "If we had more money coming, football in Congo would be huge." More investment at grassroots, in facilities and in the clubs would help the country produce more players such as Chancel Mbemba who has appeared almost 100 times for the national team and played at prestigious European clubs such as Newcastle United, Porto and Marseille, as well as forward Cedric Bakambu. "Qualification for the World Cup would have a very positive and structuring impact on Congolese football on several levels: sporting, economic, social, and even political,' said Mulonga. "The DRC would benefit from global visibility, which could improve its diplomatic, cultural, and economic image. It could also facilitate the export of Congolese players to top-tier foreign clubs." The women have longer to go, however, and were eliminated from the WAFCON with a game left to play. Here the natural resources are just as great but the infrastructure and support, according to national team captain Fideline N'goy, is lacking. "There is great talent and a desire among young girls to play the sport, but there is no decent coaching to develop their talents: no training centers, no fields, and no projects from the federation," N'goy told DW. The goalkeeper contrasts the situation with Cameroon and Morocco where, she says, FIFA prize money goes back into the women's game and South Africa where the women are paid almost as much as the men. "In our country, the winners of the women's championship earn US $10,000 (€8500), while the men's earn US$150,000." It may be left for the women to do it themselves, to achieve international success in order to help those back at home. "If the women play well, we will have more female students," Eluka said. "The problem in Congo, there is no investment made, no facilities for the ladies to practice and get better." It remains to be seen how the men getting to the World Cup would help the women's game but it would certainly be celebrated in a country that has not had much to celebrate in recent years. "Football is almost a national religion in Congo," said Mitiga. "If it qualifies for the World Cup as it seems well-poised to do, it will really energize and electrify the nation and it will bring people together."

Trump sets 50% US tariffs on copper, Brazilian imports starting in August
Trump sets 50% US tariffs on copper, Brazilian imports starting in August

TimesLIVE

time6 days ago

  • Business
  • TimesLIVE

Trump sets 50% US tariffs on copper, Brazilian imports starting in August

US President Donald Trump launched his global tariff assault into overdrive on Wednesday, announcing a new 50% tariff on US copper imports and a 50% duty on goods from Brazil, both to start on August 1. 'I am announcing a 50% TARIFF on Copper, effective August 1, after receiving a robust NATIONAL SECURITY ASSESSMENT,' Trump said in a post on his Truth Social media platform, a reference to a 'Section 232" national security trade investigation into the red metal that has been under way. The announcement came hours after he also informed Brazil that its 'reciprocal' tariff on August 1 would rise to 50% from 10%, a shockingly high level for a country with a balanced US trade relationship. Trump first broached the copper tariff during a cabinet meeting on Tuesday, setting off a scramble by companies to import as much copper as soon as possible from Chile and other major suppliers. He blamed the decline of the US copper industry on past administrations, saying copper was needed for semiconductors, aircraft, electric vehicle batteries and military hardware. 'America will, once again, build a DOMINANT Copper Industry,' Trump wrote. Trump's Brazil tariff order came in a letter to Brazilian President Luiz Inacio Lula da Silva that vented anger over what he called the 'Witch Hunt' trial of Lula's right-wing predecessor, Jair Bolsonaro, and adding to an increasingly bitter public feud with Lula. Trump also criticised what he said were Brazil's attacks on free elections, Americans' free speech and 'SECRET and UNLAWFUL Censorship Orders to US Social Media platforms'. He ordered the US Trade Representative's office to launch a new 'Section 301" unfair trade practices investigation that could add even more tariffs, citing 'Brazil's continued attacks on the Digital Trade Activities of American companies'. Lula responded to Trump's letter by issuing a statement saying that any unilateral measure to increase tariffs would be met with a response in accordance with Brazilian law. Brad Setser, a former US trade official now with the Council on Foreign Relations, said Trump's action could easily spiral into a damaging trade war between the two democracies. 'This shows the danger of having tariffs that are under the unilateral control of one man,' Setser said. 'It's tied to the fact that Lula beat Trump's friend Bolsonaro in the election.' Brazil is the 15th largest US trading partner, with total two-way trade of $92bn in 2024, and a rare $7.4bn US trade surplus, according to US Census Bureau data. Top US exports to Brazil are commercial aircraft, petroleum products and crude oil, coal and semiconductors while Brazil's top exports to the US are crude oil, coffee, semi-finished steel and pig iron. The South American country has held off on implementing a digital services tax but has sought to advance legislation with stronger competition regulations on digital platforms. Trump earlier on his Truth Social media platform issued August 1 tariff notices to seven minor trading partners that exported only $15bn in goods to the US last year: a 20% tariff on goods from the Philippines, 30% on goods from Sri Lanka, Algeria, Iraq and Libya, and 25% on Brunei and Moldova. The latest letters add to 14 others issued earlier in the week including 25% tariffs for powerhouse US suppliers South Korea and Japan, which are also to take effect August 1 barring any trade deals reached before then. They were issued a day after Trump said he was broadening his trade war by imposing a 50% tariff on imported copper and would soon introduce long-threatened levies on semiconductors and pharmaceuticals. Trump's rapid-fire tariff moves have cast a shadow over the global economic outlook, paralysing business decision-making. NEGOTIATIONS WITH THE EU As more tariff drama unfolded in Washington, US and EU negotiators pushed closer to a trade deal to ease Trump's tariffs on the biggest bilateral US trading partner bloc. Trump said he would 'probably' tell the EU within two days what rate it could expect for its exports to the US, adding that the 27-nation bloc had become much more co-operative. EU trade chief Maros Sefcovic said good progress had been made on a framework trade agreement and a deal may even be possible within days. Sefcovic told EU legislators he hoped that EU negotiators could finalise their work soon, with additional time now from the extension of a US deadline to August 1 from July 9. 'I hope to reach a satisfactory conclusion, potentially even in the coming days,' Sefcovic said. However, Italian economy minister Giancarlo Giorgetti had earlier warned that talks between the two sides were 'very complicated' and could continue right up to the deadline. EU officials and auto industry sources said that US and EU negotiators were discussing a range of potential measures aimed at protecting the EU's auto industry, including tariff cuts, import quotas and credits against the value of EU automakers' US exports. HIGHEST TARIFF LEVELS SINCE 1934 Equity markets shrugged off the Republican president's latest tariff salvo on Wednesday, while the yen remained on the back foot after the levies imposed on Japan. After Trump's announcement of higher tariffs for imports from the 14 countries, US research group Yale Budget Lab estimated consumers face an effective US tariff rate of 17.6%, up from 15.8% previously and the highest in nine decades. Trump's administration has been touting those tariffs as a significant revenue source. Treasury secretary Scott Bessent said Washington has taken in about $100bn so far and could collect $300bn by the end of the year. The US has taken in about $80bn annually in tariff revenue in recent years. The Trump administration promised '90 deals in 90 days' after he unveiled an array of country-specific duties in early April. So far, only two agreements have been reached, with Britain and Vietnam. Trump has said a deal with India was close.

Trump Sets 50% U.S. Tariffs On Copper, Brazilian Imports Starting In August
Trump Sets 50% U.S. Tariffs On Copper, Brazilian Imports Starting In August

Yahoo

time6 days ago

  • Business
  • Yahoo

Trump Sets 50% U.S. Tariffs On Copper, Brazilian Imports Starting In August

WASHINGTON/BRUSSELS, July 9 (Reuters) - U.S. President Donald Trump launched his global tariff assault into overdrive on Wednesday, announcing a new 50% tariff on U.S. copper imports and a 50% duty on goods from Brazil, both to start on August 1. 'I am announcing a 50% TARIFF on Copper, effective August 1, 2025, after receiving a robust NATIONAL SECURITY ASSESSMENT,' Trump said in a post on his Truth Social media platform, a reference to a 'Section 232″ national security trade investigation into the red metal that has been underway. The announcement came hours after he also informed Brazil that its 'reciprocal' tariff on August 1 would rise to 50% from 10%, a shockingly high level for a country with a balanced U.S. trade relationship. Trump first broached the copper tariff during a cabinet meeting on Tuesday, setting off a scramble by companies to import as much copper as soon as possible from Chile and other major suppliers. He blamed the decline of the U.S. copper industry on past administrations, saying copper was needed for semiconductors, aircraft, electric vehicle batteries and military hardware. 'America will, once again, build a DOMINANT Copper Industry,' Trump wrote. Trump's Brazil tariff order came in a letter to Brazilian President Luiz Inacio Lula da Silva that vented anger over what he called the 'Witch Hunt' trial of Lula's right-wing predecessor, Jair Bolsonaro, and adding to an increasingly bitter public feud with Lula. Trump also criticized what he said were Brazil's attacks on free elections, Americans' free speech and 'SECRET and UNLAWFUL Censorship Orders to U.S. Social Media platforms.' He ordered the U.S. Trade Representative's office to launch a new 'Section 301″ unfair trade practices investigation that could add even more tariffs, citing 'Brazil's continued attacks on the Digital Trade Activities of American companies.' Lula responded to Trump's letter by issuing a statement saying that any unilateral measure to increase tariffs would be met with a response in accordance with Brazilian law. Brad Setser, a former U.S. trade official now with the Council on Foreign Relations, said Trump's action could easily spiral into a damaging trade war between the two democracies. 'This shows the danger of having tariffs that are under the unilateral control of one man,' Setser said. 'It's tied to the fact that Lula beat Trump's friend Bolsonaro in the election.' Brazil is the 15th largest U.S. trading partner, with total two-way trade of $92 billion in 2024, and a rare $7.4 billion U.S. trade surplus, according to U.S. Census Bureau data. Top U.S. exports to Brazil are commercial aircraft, petroleum products and crude oil, coal and semiconductors while Brazil's top exports to the U.S. are crude oil, coffee, semi-finished steel and pig iron. The South American country has held off on implementing a digital services tax but has sought to advance legislation with stronger competition regulations on digital platforms. Trump earlier on his Truth Social media platform issued August 1 tariff notices to seven minor trading partners that exported only $15 billion in goods to the U.S. last year: a 20% tariff on goods from the Philippines, 30% on goods from Sri Lanka, Algeria, Iraq, and Libya, and 25% on Brunei and Moldova. The latest letters add to 14 others issued earlier in the week including 25% tariffs for powerhouse U.S. suppliers South Korea and Japan, which are also to take effect August 1 barring any trade deals reached before then. They were issued a day after Trump said he was broadening his trade war by imposing a 50% tariff on imported copper and would soon introduce long-threatened levies on semiconductors and pharmaceuticals. Trump's rapid-fire tariff moves have cast a shadow over the global economic outlook, paralyzing business decision-making. NEGOTIATIONS WITH THE EU As more tariff drama unfolded in Washington, U.S. and European Union negotiators pushed closer to a trade deal to ease Trump's tariffs on the biggest bilateral U.S. trading partner bloc. Trump said he would 'probably' tell the EU within two days what rate it could expect for its exports to the U.S., adding that the 27-nation bloc had become much more cooperative. EU trade chief Maros Sefcovic said good progress had been made on a framework trade agreement and a deal may even be possible within days. Sefcovic told EU lawmakers he hoped that EU negotiators could finalise their work soon, with additional time now from the extension of a U.S. deadline to August 1 from July 9. 'I hope to reach a satisfactory conclusion, potentially even in the coming days,' Sefcovic said. However, Italian Economy Minister Giancarlo Giorgetti had earlier warned that talks between the two sides were 'very complicated' and could continue right up to the deadline. EU officials and auto industry sources said that U.S. and EU negotiators were discussing a range of potential measures aimed at protecting the European Union's auto industry, including tariff cuts, import quotas and credits against the value of EU automakers' U.S. exports. HIGHEST TARIFF LEVELS SINCE 1934 Equity markets shrugged off the Republican president's latest tariff salvo on Wednesday, while the yen remained on the back foot after the levies imposed on Japan. Following Trump's announcement of higher tariffs for imports from the 14 countries, U.S. research group Yale Budget Lab estimated consumers face an effective U.S. tariff rate of 17.6%, up from 15.8% previously and the highest in nine decades. Trump's administration has been touting those tariffs as a significant revenue source. Treasury Secretary Scott Bessent said Washington has taken in about $100 billion so far and could collect $300 billion by the end of the year. The United States has taken in about $80 billion annually in tariff revenue in recent years. The Trump administration promised '90 deals in 90 days' after he unveiled an array of country-specific duties in early April. So far, only two agreements have been reached, with Britain and Vietnam. Trump has said a deal with India was close.

Donald Trump unleashes 50% tariff on copper imports starting August 1, says metal is ‘necessary… this is our golden age'
Donald Trump unleashes 50% tariff on copper imports starting August 1, says metal is ‘necessary… this is our golden age'

Mint

time6 days ago

  • Business
  • Mint

Donald Trump unleashes 50% tariff on copper imports starting August 1, says metal is ‘necessary… this is our golden age'

US President Donald Trump launched his global tariff assault into overdrive on Wednesday, announcing a new 50% tariff on U.S. copper imports and a 50% duty on goods from Brazil, both to start on August 1. "I am announcing a 50% TARIFF on Copper, effective August 1, 2025, after receiving a robust NATIONAL SECURITY ASSESSMENT," Trump said in a post on his Truth Social media platform, a reference to a "Section 232" national security trade investigation into the red metal that has been underway. The announcement came hours after he also informed Brazil that its "reciprocal" tariff on August 1 would rise to 50% from 10%, a shockingly high level for a country with a balanced U.S. trade relationship. Trump first broached the copper tariff during a cabinet meeting on Tuesday, setting off a scramble by companies to import as much copper as soon as possible from Chile and other major suppliers. He blamed the decline of the U.S. copper industry on past administrations, saying copper was needed for semiconductors, aircraft, electric vehicle batteries and military hardware. "America will, once again, build a DOMINANT Copper Industry," Trump wrote. Trump's Brazil tariff order came in a letter to Brazilian President Luiz Inacio Lula da Silva that vented anger over what he called the "Witch Hunt" trial of Lula's right-wing predecessor, Jair Bolsonaro, and adding to an increasingly bitter public feud with Lula. Trump also criticized what he said were Brazil's attacks on free elections, Americans' free speech and "SECRET and UNLAWFUL Censorship Orders to U.S. Social Media platforms." He ordered the U.S. Trade Representative's office to launch a new "Section 301" unfair trade practices investigation that could add even more tariffs, citing "Brazil's continued attacks on the Digital Trade Activities of American companies." Lula responded to Trump's letter by issuing a statement saying that any unilateral measure to increase tariffs would be met with a response in accordance with Brazilian law. Brad Setser, a former U.S. trade official now with the Council on Foreign Relations, said Trump's action could easily spiral into a damaging trade war between the two democracies. "This shows the danger of having tariffs that are under the unilateral control of one man," Setser said. "It's tied to the fact that Lula beat Trump's friend Bolsonaro in the election." Brazil is the 15th largest U.S. trading partner, with total two-way trade of $92 billion in 2024, and a rare $7.4 billion U.S. trade surplus, according to U.S. Census Bureau data. Top U.S. exports to Brazil are commercial aircraft, petroleum products and crude oil, coal and semiconductors while Brazil's top exports to the U.S. are crude oil, coffee, semi-finished steel and pig iron. The South American country has held off on implementing a digital services tax but has sought to advance legislation with stronger competition regulations on digital platforms. Trump earlier on his Truth Social media platform issued August 1 tariff notices to seven minor trading partners that exported only $15 billion in goods to the U.S. last year: a 20% tariff on goods from the Philippines, 30% on goods from Sri Lanka, Algeria, Iraq, and Libya, and 25% on Brunei and Moldova. The latest letters add to 14 others issued earlier in the week including 25% tariffs for powerhouse U.S. suppliers South Korea and Japan, which are also to take effect August 1 barring any trade deals reached before then. They were issued a day after Trump said he was broadening his trade war by imposing a 50% tariff on imported copper and would soon introduce long-threatened levies on semiconductors and pharmaceuticals. Trump's rapid-fire tariff moves have cast a shadow over the global economic outlook, paralyzing business decision-making. As more tariff drama unfolded in Washington, U.S. and European Union negotiators pushed closer to a trade deal to ease Trump's tariffs on the biggest bilateral U.S. trading partner bloc. Trump said he would "probably" tell the EU within two days what rate it could expect for its exports to the U.S., adding that the 27-nation bloc had become much more cooperative. EU trade chief Maros Sefcovic said good progress had been made on a framework trade agreement and a deal may even be possible within days. Sefcovic told EU lawmakers he hoped that EU negotiators could finalise their work soon, with additional time now from the extension of a U.S. deadline to August 1 from July 9. "I hope to reach a satisfactory conclusion, potentially even in the coming days," Sefcovic said. However, Italian Economy Minister Giancarlo Giorgetti had earlier warned that talks between the two sides were "very complicated" and could continue right up to the deadline. EU officials and auto industry sources said that U.S. and EU negotiators were discussing a range of potential measures aimed at protecting the European Union's auto industry, including tariff cuts, import quotas and credits against the value of EU automakers' U.S. exports. HIGHEST TARIFF LEVELS SINCE 1934 Equity markets shrugged off the Republican president's latest tariff salvo on Wednesday, while the yen remained on the back foot after the levies imposed on Japan. Following Trump's announcement of higher tariffs for imports from the 14 countries, U.S. research group Yale Budget Lab estimated consumers face an effective U.S. tariff rate of 17.6%, up from 15.8% previously and the highest in nine decades. Trump's administration has been touting those tariffs as a significant revenue source. Treasury Secretary Scott Bessent said Washington has taken in about $100 billion so far and could collect $300 billion by the end of the year. The United States has taken in about $80 billion annually in tariff revenue in recent years. The Trump administration promised "90 deals in 90 days" after he unveiled an array of country-specific duties in early April. So far, only two agreements have been reached, with Britain and Vietnam. Trump has said a deal with India was close. (With inputs from Reuters)

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