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India Today
4 days ago
- Business
- India Today
Trump arrives in Scotland for golf and bilateral talks ahead of EU trade deal
US President Donald Trump, dogged by questions about his ties to disgraced financier and sex offender Jeffrey Epstein, arrived in Scotland on Friday for some golf and bilateral talks that could yield a trade deal with the European told reporters upon his arrival that he will visit his two golf properties in Scotland and meet with British Prime Minister Keir Starmer and European Commission President Ursula von der Leyen, whom he called a "highly respected woman."advertisementAs hundreds of onlookers cheered his arrival, Trump repeated his earlier comment about a 50-50 chance of securing a deal with the EU, adding it would be his administration's biggest trade agreement thus far, if it came together. However, he said there were still "sticking points" with Brussels on "maybe 20 different things."Trump said his meeting with Starmer would be more of a celebration of the trade deal already reached than continued work on it, adding, "It's a great deal for both."Before he left Washington, Trump said his administration was working hard on a possible trade deal with the EU, and Brussels was keen to make a deal. Von der Leyen said later she would meet Trump in Scotland on diplomats say a deal could result in a 15% tariff on EU goods, mirroring a framework accord with Japan reached this week and half of the 30% Trump is threatening to impose by August has sought to reorder the global economy after imposing a 10% tariff on nearly all trading partners in April and threatening sharply higher rates for many countries to kick in a week from now. Trump says the moves will reduce the US trade deficit and bring in extra revenue, but economists warn the new trade policies could drive up inflation.'DON'T TALK ABOUT TRUMP'Trump, facing the biggest domestic political crisis of his second term, expressed frustration about ongoing questions about his administration's handling of investigative files related to Epstein's criminal charges and his 2019 death in prison."You make it a very big thing over something that's not a big thing," Trump told reporters in Scotland, urging them to focus on other prominent Americans with ties to Epstein, including former President Bill Clinton."Talk about Clinton. Talk about the former president of Harvard. Talk about all of his friends. Talk about the hedge fund guys that were with him all the time. Don't talk about Trump," he said. "What you should be talking about is the fact that we have the greatest six months in the history of a presidency."The Epstein issue has caused a rare breach with some of Trump's most loyal Make America Great Again supporters, and majorities of Americans and Trump's Republicans say they believe the government is hiding details on the case, according to Reuters/Ipsos House officials are hoping the controversy dies down while Trump is abroad, two people familiar with the matter TIESTrump will stay at his Turnberry property on Scotland's west coast this weekend, before traveling on Monday to a golf property in Aberdeen, where he will open a second 18-hole course named in honor of his mother, Mary Anne MacLeod. MacLeod was born and raised on a Scottish island before emigrating to the USAs he left the White House, Trump said he looked forward to meeting both Starmer and Scottish leader John Swinney, who had publicly backed Democratic candidate Kamala Harris in the 2024 US presidential trip gives Trump and Starmer a chance to deepen their already warm ties, with key issues on the agenda to include ending Russia's war in Ukraine, British and U.S. sources deteriorating situation in Gaza is also likely to arise. Starmer on Thursday said he would hold an emergency call with France and Germany over what he called the "unspeakable and indefensible" suffering and starvation being reported there, and called on Israel to allow aid to enter the Palestinian health authorities say more than 100 people have died from starvation, most in recent weeks. Human rights groups have said mass starvation is spreading even as tons of food and other supplies sit untouched just outside the being elected last year, Starmer has prioritized good relations with Trump, stressing the importance of Britain's defense and security alliance with the US, while working to clinch the first tariff-reduction deal with the US in framework agreement reaffirmed quotas and tariff rates on British automobiles and eliminated tariffs on the UK's aerospace sector, but left steel tariffs in is expected to press for lower steel tariffs, but sources close to the matter said it was unclear if any breakthrough was possible during Trump's has described Scotland as a "very special place" and made a similar trip there in 2016 during his earlier run for the presidency, but he will not necessarily get a warm 70% of Scots have an unfavorable opinion of Trump, while 18% have a favorable opinion, an Ipsos poll in March police are girding for protests on Saturday in both Aberdeen and in Edinburgh, the country's will return to Britain from September 17-19 for a state visit hosted by King Charles. It will make Trump the first world leader in modern times to undertake two state visits to Britain. The late Queen Elizabeth hosted him at Buckingham Palace for a three-day state visit in June 2019.- EndsTune InMust Watch
India Today
09-07-2025
- Business
- India Today
Trump delays reciprocal tariffs after Bessent calls for more time on deals: Report
US President Donald Trump postponed the implementation of reciprocal tariffs to August 1, following advice from key officials, including Treasury Secretary Scott Bessent, according to the Wall Street Journal. They believed that with more time, the United States could secure better trade agreements with countries including India and the European extended this pause by three weeks while sending letters to 14 countries. According to the report, before making the decision, Trump spent the weekend discussing options by phone and in private talks with close allies from his golf club in Bedminster, New had considered either setting a new deadline or sending tariff warning letters without a specific date. He was compelled to delay after Bessent informed him that trade deals were closed but needed more time. Bessent also convinced Trump to initially pause the tariffs in April. White House spokesman Kush Desai said, "The United States, the world's biggest and best consumer market, holds the cards and leverage in negotiations to unilaterally set deals with appropriate tariff rates for our trading partners." Desai added that many countries have shown strong interest in lowering tariffs but Trump remains firm on US OVER SLOW DEALSInside the White House, Trump was frustrated over slow progress in trade talks, blaming other countries for not making fair offers. The report claimed that Trump wanted to capitalise on recent political successes, including "One Big Beautiful Bill" and his military action in Iran, to push harder on the end, Trump chose to delay tariffs while sending letters to pressure countries into finalising deals. He threatened more such letters would be coming and said he was close to sending one to the European wrote on Truth Social, "TARIFFS WILL START BEING PAID ON AUGUST 1, 2025. There has been no change to this date, and there will be no change." During a recent cabinet meeting, he said, "A letter means a deal," while also noting ongoing negotiations with other US president also announced plans to impose steep tariffs on specific goods, citing national security reasons, including 50% tariffs on copper and up to 200% on pharmaceuticals. Companies will have up to 18 months to move their pharmaceutical supply chains before these tariffs take effect. Lutnick confirmed that details on copper tariffs would be released soon, with semiconductor and pharmaceutical tariffs expected by August he acknowledged that it would be impossible to negotiate with all 200 countries the US trades with, saying, "We can't meet with 200 countries."The reciprocal tariffs target countries the US government considers unfair trade partners. These nations face higher rates than the 10% baseline tariffs already imposed on most imports. However, products already affected by other tariffs, like copper or aluminium, will not face the new reciprocal rates.- EndsTune InMust Watch
Al Etihad
12-03-2025
- Business
- Al Etihad
Stocks diverge over Trump tariffs, Ukraine ceasefire plan
12 Mar 2025 15:22 LONDON (AFP)European stock markets rose Wednesday but Asian equities sputtered as investors tracked President Donald Trump's latest tariffs and a potential ceasefire in said support came from Ukraine endorsing an American proposal for a 30-day ceasefire, which was awaiting a response from stock markets closed lower Wednesday, while Europe's main equity indices made solid gains nearing the half-way had been a further equities selloff in New York on Tuesday that saw the Nasdaq extend Monday's four percent eyes were also on US inflation data due Wednesday."Market volatility is rising as visibility (over tariffs) becomes cloudier by the day," noted Ipek Ozkardeskaya, senior analyst at Swissquote on-off nature of the trade policies has fuelled uncertainty in markets, and has sent the VIX "fear index" of volatility to its highest level since markets have endured severe swings this month as Trump looks to ramp up pressure on global partners by imposing or threatening hefty duties on their goods, citing huge trade the latest move, sweeping 25 percent levies on all US aluminium and steel imports came into effect at midnight in Washington, hitting numerous nations from Brazil to South Korea, as well as the European had threatened to double those on Canada after Ontario imposed an electricity surcharge on three US states, but he called that off after the province halted the and the European Union on Wednesday vowed to strike back and defend their economic interests, moving Washington closer to an all-out trade war with two major in focus Wednesday is the release of key US consumer inflation data, which the Federal Reserve will keep a close eye on as it tries to determine monetary policy in light of the latest moves by is a fear that the tariffs, and plans to slash taxes, regulation and immigration will fan inflation again, forcing the bank to hold borrowing costs for longer or even hike said high uncertainty in US stocks markets made other regions more attractive as investors seek out stability."For years, the US has been the undisputed leader of global markets, fuelled by aggressive fiscal spending, tech dominance, and a strong consumer," said Charu Chanana, chief investment strategist at Saxo. "But cracks are starting to show. Investors are increasingly looking overseas as concerns mount over US stock valuations, monetary policy, and economic uncertainty."
