Latest news with #FoxNewsChannel
Mint
2 hours ago
- Business
- Mint
Trading partners scramble to reach deals with US ahead of Trumps deadline for imposing new tariffs
WASHINGTON — With President Donald Trump's dramatic tariff hikes on the cusp of starting, countries around the world scrambled on Thursday to finalize their trade frameworks with the United States, figure out the tax rates their goods might face and prepare for the unknown. Shortly before Friday deadline for the tariffs beginning, Trump said he would enter into a 90-day negotiating period with Mexico, one of the nation's largest trading partners, with the current 25% tariff rates staying in place, down from the 30% he had threatened earlier. 'We avoided the tariff increase announced for tomorrow and we got 90 days to build a long-term agreement through dialogue,' Mexican leader Claudia Sheinbaum wrote on X after a call with Trump that he referred to as 'very successful' in terms of the leaders getting to know each other better. White House press secretary Karoline Leavitt said at Thursday's news briefing that Trump 'at some point this afternoon or later this evening' would sign an order to impose new rates starting at 12:01 a.m. EDT Friday. Countries that had not received a prior letter from Trump or negotiated a framework would be notified of their likely tariff rates, either by letter or executive order, she said. The unknowns created a sense of drama that have defined Trump's rollout of tariffs over several months, with the one consistency being his desire to levy the import taxes that most economists say will ultimately be borne to some degree by U.S. consumers and businesses. Trump imposed the Friday deadline after his previous 'Liberation Day' tariffs in April resulted in a stock market panic. His unusually high tariff rates unveiled in April led to recession fears, prompting Trump to impose a 90-day negotiating period. When he was unable to create enough trade deals with other countries, he extended the timeline and sent out letters to world leaders that simply listed rates, prompting a slew of hasty deals. Trump reached a deal with South Korea on Wednesday, and earlier with the European Union, Japan, Indonesia and the Philippines. His commerce secretary, Howard Lutnick, said on Fox News Channel's 'Hannity' that there were agreements with Cambodia and Thailand after they had agreed to a ceasefire to their border conflict. Among those uncertain about their trade status were wealthy Switzerland and Norway. Norwegian Finance Minister Jens Stoltenberg said it was 'completely uncertain' whether a deal would be completed before Trump's deadline. But even the public announcement of a deal can offer scant reassurance for an American trading partner. EU officials are waiting to complete a crucial document outlining how the framework to tax imported autos and other goods from the 27-member state bloc would operate. Trump had announced a deal Sunday while he was in Scotland. 'The U.S. has made these commitments. Now it's up to the U.S. to implement them. The ball is in their court,' EU Commission spokesperson Olof Gill said. The document would not be legally binding. Trump said as part of the agreement with Mexico that goods imported into the U.S. would continue to face a 25% tariff that he has ostensibly linked to fentanyl trafficking. He said autos would face a 25% tariff, while copper, aluminum and steel would be taxed at 50% during the negotiating period. He said Mexico would end its 'Non Tariff Trade Barriers,' but he didn't provide specifics. Some goods continue to be protected from the tariffs by the 2020 U.S.-Mexico-Canada Agreement, or USMCA, which Trump negotiated during his first term. But Trump appeared to have soured on that deal, which is up for renegotiation next year. One of his first significant moves as president was to tariff goods from both Mexico and Canada earlier this year. U.S. Census Bureau figures show that the U.S. ran a $171.5 billion trade imbalance with Mexico last year. That means the U.S. bought more goods from Mexico than it sold to the country. The imbalance with Mexico has grown in the aftermath of the USMCA as it was only $63.3 billion in 2016, the year before Trump started his first term in office. Besides addressing fentanyl trafficking, Trump has made it a goal to close the trade gap. Associated Press writers Lorne Cook in Brussels and Jamey Keaten in Geneva contributed to this report. This article was generated from an automated news agency feed without modifications to text.
Boston Globe
2 hours ago
- Business
- Boston Globe
Trump agrees to 90-day negotiating period with Mexico in a blitz before his tariff deadline
The Republican president had threatened tariffs of 30% on goods from Mexico in a July letter, something that Sheinbaum said Mexico gets to stave off for the next three months. 'We avoided the tariff increase announced for tomorrow and we got 90 days to build a long-term agreement through dialogue,' Sheinbaum wrote on X. Advertisement The leaders' morning call came at a moment of pressure and uncertainty for the world economy. As Trump's deadline loomed, nations were scrambling to finalize the outlines of trade frameworks so he would not simply impose higher tariff rates that could upend economies and governments. Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up Trump reached a deal with South Korea on Wednesday, and earlier with the European Union, Japan, Indonesia and the Philippines. His commerce secretary, Howard Lutnick, said on Fox News Channel's 'Hannity' that there were agreements with Cambodia and Thailand after they had agreed to a ceasefire to their border conflict. White House press secretary Karoline Leavitt said Trump 'at some point this afternoon or later this evening' will sign an order to impose new rates starting at 12:01 a.m. EDT Friday. Countries that have not received a prior letter from Trump or negotiated a framework will be notified of their likely tariff rates, either by letter or executive order, she said. Advertisement Among those uncertain about their trade status were wealthy Switzerland and Norway. Norwegian Finance Minister Jens Stoltenberg said it was 'completely uncertain' whether a deal would be completed before Trump's deadline. But even the public announcement of a deal can offer scant reassurance for an American trading partner. EU officials are waiting to complete a crucial document outlining how the framework to tax imported autos and other goods from the 27-member state bloc would operate. Trump had announced a deal Sunday while he was in Scotland. 'The U.S. has made these commitments. Now it's up to the U.S. to implement them. The ball is in their court,' EU commission spokesman Olof Gill said. The document would not be legally binding. Trump said as part of the agreement with Mexico that goods imported into the U.S. would continue to face a 25% tariff that he has ostensibly linked to fentanyl trafficking. He said autos would face a 25% tariff, while copper, aluminum and steel would be taxed at 50% during the negotiating period. He said Mexico would end its 'Non Tariff Trade Barriers,' but he didn't provide specifics. Some goods continue to be protected from the tariffs by the 2020 U.S.-Mexico-Canada Agreement, or USMCA, which Trump negotiated during his first term. But Trump appeared to have soured on that deal, which is up for renegotiation next year. One of his first significant moves as president was to tariff goods from both Mexico and Canada earlier this year. Advertisement U.S. Census Bureau figures show that the U.S. ran a $171.5 billion trade imbalance with Mexico last year. That means the U.S. bought more goods from Mexico than it sold to the country. The imbalance with Mexico has grown in the aftermath of the USMCA as it was only $63.3 billion in 2016, the year before Trump started his first term in office. Besides addressing fentanyl trafficking, Trump has made it a goal to close the trade gap. Associated Press writers Lorne Cook in Brussels and Jamey Keaten in Geneva contributed to this report.
Wall Street Journal
2 days ago
- Politics
- Wall Street Journal
Trump's Tariff Deals With Japan and the EU, as His Aug. 1 Deadline Nears - Opinion: Potomac Watch
Paul A. Gigot is the editorial page editor and vice president of The Wall Street Journal, a position he has held since 2001. He is responsible for the publication's editorials, op-ed articles and Opinion columnists, book reviews, arts criticism, and other Opinion content such as podcasts, videos and documentaries. He is also the host of the weekly news program, the Journal Editorial Report, on the Fox News Channel. Mr. Gigot joined the Journal in 1980 as a reporter in Chicago, and in 1982 he became the Journal's Asia correspondent, based in Hong Kong. He won an Overseas Press Club award for his reporting on the Philippines. In 1984 he was named the first editorial page editor of The Asian Wall Street Journal, based in Hong Kong. In 1987 he was assigned to Washington, where he contributed editorials and a weekly column on politics, "Potomac Watch," which won the 2000 Pulitzer Prize for commentary. Mr. Gigot is a graduate of Dartmouth College, where he was chairman of the daily student newspaper.
Yahoo
3 days ago
- Politics
- Yahoo
Rubio downplays 2028 talk, touts Vance as Trump's successor
Secretary of State Marco Rubio dismissed speculation that he could be the Republican Party's 2028 presidential nominee, instead throwing his support behind Vice President JD Vance. "I think JD Vance would be a great nominee if he decides he wants to do that," Rubio said during an interview with Lara Trump that aired on the Fox News Channel Saturday. Rubio also described Vance as one of his "closest friends in politics." Rubio Reflects On Remarkable Political Journey From Trump Critic To Trusted Cabinet Member He went on to commend Vance's performance as vice president during the segment on "My View with Lara Trump" and made clear he is satisfied with his current role in President Donald Trump's Cabinet. "I want to do this job as long as the president allows me to," Rubio added. Read On The Fox News App Trump appointed Rubio to serve as the nation's top diplomat shortly after defeating then–Vice President Kamala Harris in the 2024 election. Rubio, previously a Republican senator representing Florida, was among the first confirmed to Trump's Cabinet. "I believe that if I am able to be here, through the duration of this presidency, and we get things done at the pace that we've been doing the last six months, I'll be able to look back at my time in public service and say I made a difference, I had an impact, and I served my country in a very positive way," Rubio told Trump. "And I would be satisfied with that as the apex of my career," he article source: Rubio downplays 2028 talk, touts Vance as Trump's successor
Bangkok Post
23-07-2025
- Business
- Bangkok Post
AIS partners with top business news networks
Advanced Info Service (AIS) continues to strengthen its leadership in delivering premium content through the addition of global in-depth news channels to AIS Play, Thailand's leading video platform. The company has announced new partnerships with world-renowned business news networks, including Bloomberg Television, Fox Business and Fox News Channel, aligning with its strategic move to cater to Thai audiences seeking timely and comprehensive access to economic, financial, capital market, investment and international political news, as well as in-depth expert analysis from across the globe. Customers who subscribe to the Play Family package on AIS PLAY -- starting from 119 baht a month -- can enjoy this content across all devices: smartphones, tablets, smart TVs and the AIS Playbox set-top box. Bloomberg Television provides global business, finance and market news, with expert hosts covering various regions including Asia, Europe and the Middle East. The channel offers neutral, in-depth reporting and accurate real-time updates from around the world. Fox News Channel delivers comprehensive news coverage, analysis, and opinion with a diversity of opinions. As the top-rated television news network in the US for over 20 consecutive years, Fox News offers new perspectives to Thai viewers. Fox Business is a dedicated financial news channel providing real-time market updates across multiple platforms, with a strong focus on Wall Street and other major markets. Based in New York -- the business capital of the world -- Fox Business delivers insights that directly impact viewers' financial lives.
