Latest news with #Trump administration
Bloomberg
26 minutes ago
- Business
- Bloomberg
Carney Tempers Trade Expectations, Says Canada Won't Sign a Bad Deal
Canada's prime minister sought to cool expectations about reaching a trade agreement with the US in the next 10 days, saying the talks are difficult because the Trump administration keeps changing its goals. 'Canada will not accept a bad deal. Our objective is not to reach a deal whatever it costs,' Mark Carney told reporters in Huntsville, Ontario, after meeting with provincial leaders from across the country. 'We are pursuing a deal that will be in the best interest of Canadians.'
CBS News
an hour ago
- Business
- CBS News
Trump says U.S., Philippines have trade deal after "beautiful visit" with Philippine president
The U.S. and the Philippines have reached a trade deal, President Trump said Tuesday after his Oval Office meeting with Philippine President Ferdinand "Bongbong" Marcos, Jr. Mr. Trump announced the outlines of a deal on Truth Social, saying the new tariff rate on products imported from the Philippines would be 19%. The president also said the Philippines would lift all tariffs on U.S. goods. The Philippines has not yet confirmed the the agreement or any details. "It was a beautiful visit, and we concluded our Trade Deal, whereby The Philippines is going OPEN MARKET with the United States, and ZERO Tariffs," Mr. Trump wrote. "The Philippines will pay a 19% Tariff. In addition, we will work together Militarily. It was a Great Honor to be with the President. He is Highly Respected in his Country, as he should be. He is also a very good, and tough, negotiator. We extend our warmest regards to the wonderful people of The Philippines!" The 19% tariff rate is just shy of the 20% tariff rate the Trump administration was set to impose on the Philippines. And it's also higher than the so-called reciprocal tariff of 17% on Philippine imports the administration announced in April. In his Oval Office meeting with Marcos on Tuesday, Mr. Trump said the U.S. and the Philippines were "very close" to reaching a deal, calling Marcos a tough negotiator. "We're very close to finishing a trade deal, big trade deal, actually, Mr. Trump said Tuesday, seated alongside Marcos. "And we do a lot of business with you, so a lot of — a lot of income coming in for both groups." August 1 is the Trump administration's current deadline for countries to reach trade agreements with the U.S. or face higher tariff rates on goods sent to the U.S.
Yahoo
2 hours ago
- Business
- Yahoo
Jon Stewart defended his friend Stephen Colbert in an f-bomb-filled monologue against CBS and the Trump administration
Jon Stewart slammed CBS's decision to cancel his friend Stephen Colbert's talk show. CBS, which is owned by Paramount, said the cancellation was "purely a financial decision." But Stewart said Paramount was capitulating to Trump over its proposed merger with Skydance Media. Jon Stewart says CBS's cancellation of "The Late Show With Stephen Colbert" has less to do with the show's financials and more to do with getting into the Trump administration's good books. Stewart slammed CBS and its decision during his expletive-filled monologue on "The Daily Show" that aired on Monday night. Both Stewart's and Colbert's shows share the same parent company, Paramount Global. "Now, obviously, I am certainly not the most objective to comment on this matter," Stewart said of his longtime friendship with Colbert. Stewart acknowledged the financial challenges that come with trying to run a late-night television show like Colbert's. Stewart said in his monologue that "late night TV is a struggling financial model" and is akin to "operating a Blockbuster kiosk inside of a Tower Records." "But when your industry is faced with changes, you don't just call it a day. My God, when CDs stopped selling, they didn't just go, 'Oh well, music, it's been a good run,'" Stewart said. Stewart said CBS's cancellation of Colbert's show raised questions over whether it was "purely financial" or the "path of least resistance" for Paramount's proposed merger with Skydance Media. "I believe CBS lost the benefit of the doubt two weeks prior when they sold out their flagship news program to pay an extortion fee to said president," Stewart said. Earlier this month, Paramount said it had agreed to pay President Donald Trump a $16 million settlement. Trump had filed a lawsuit against CBS that accused the network of "deceptive editing" of an interview with then-Vice President Kamala Harris on "60 Minutes." "Look, I understand the corporate fear. I understand the fear that you and your advertisers have with $8 billion at stake," Stewart said. "But understand this: Truly, the shows that you now seek to cancel, censor, and control, a not-insignificant portion of that $8 billion value came from those fucking shows. That's what made you that money," he added. Representatives for Stewart, Colbert, CBS, and the White House didn't respond to requests for comment. 'Fear and pre-compliance' Stewart said that capitulating to Trump wouldn't play out the way Paramount expects. He referenced the president's recent lawsuit against The Wall Street Journal after it reported on a "bawdy" birthday letter Trump sent to Jeffrey Epstein on the latter's 50th birthday. "Donald Trump is suing Rupert Murdoch. The owner of Fox News, the man other than Biden may be most responsible for getting Trump elected," Stewart said. "Fox spends 24 hours a day blowing Trump, and it's not enough. Imagine suing someone mid-blow. How could you? 'Finish up. Finish up down there, and I'll see you in court,'" he added. Stewart added that the reason Colbert's show was ending wasn't its financial health but the "fear and pre-compliance that is gripping all of America's institutions." "This is not the moment to give in. I'm not giving in," Stewart said. During his half-hour monologue, Stewart said versions of the f-word more than two dozen times. CBS said in a statement on July 18 that the cancellation of Colbert's show was "purely a financial decision against a challenging backdrop in late night." It added that the decision was "not related in any way to the show's performance, content or other matters happening at Paramount." Last week, Puck's Matt Belloni reported that Colbert's show had been losing more than $40 million a year. This is in spite of Colbert's popularity with viewers. His show was the only late-night show to gain viewers this year, according to ratings from the American audience measurement company Nielsen. Advertising revenue across late-night shows like Colbert's has been dropping, too. Ad revenue for late-night fell from $439 million in 2018 to $220 million in 2024, The New York Times reported, citing data it had obtained from the advertising data firm Guideline. Read the original article on Business Insider
The Guardian
2 hours ago
- Politics
- The Guardian
DoJ to meet with Ghislaine Maxwell as Trump faces new scrutiny over Epstein ties
Ghislaine Maxwell, the imprisoned sex trafficker linked to the dead financier Jeffrey Epstein, is meeting with justice department officials – including Todd Blanche, the deputy attorney general, who will see if Maxwell 'has information about anyone who has committed crimes against victims'. The announcement of Maxwell's meetings with justice department officials comes as the Trump administration faces backlash from Democrats and Trump supporters alike for its recent handling of the Epstein case. In early July, the justice department and the FBI announced that they will not be releasing any further Epstein-related documents and further said that there was 'no incriminating 'client list''. 'We did not uncover evidence that could predicate an investigation against uncharged third parties,' the justice department said. FBI officials also determined that Epstein indeed died by suicide. The Trump administration's handling of the Epstein case has led to a rift among Trump's base. The administration's attempts to place a lid on the Epstein case have been met with criticism, including from members of Congress who have pushed for votes to compel the administration to release documents related to the case. There will probably not be a vote before the August recess, Politico reports, due to Republican resistance during congressional meetings. Some lawmakers have called for Maxwell to testify before Congress about her dealings with Epstein, a move that leading House Republicans have resisted. Last week, Trump directed the attorney general, Pam Bondi, to ask a court to release all relevant grand jury testimony in Epstein's case. The grand jury testimony could reveal previously unknown information but is unlikely to include big revelations since, often, prosecutors provide limited information to a grand jury only to secure an indictment. Maxwell, who was convicted of sex-trafficking underage girls for Epstein in December 2021, will reportedly be negotiating with the government. She is currently serving a 20-year prison sentence for her role in Epstein's abuse of children. 'I can confirm that we are in discussions with the government and that Ghislaine will always testify truthfully,' her attorney, David Oscar Markus, posted on X. On Tuesday morning, Blanche also released a statement, posted by Bondi, saying that he plans to meet with Maxwell 'in the coming days'. Blanche's statement also defended the department's early July release, saying it was 'as accurate today as it was when it was written'. Epstein and Maxwell were first indicted under the first Trump administration. In 2007, Epstein struck a deal with federal and state prosecutors. That year, he pleaded guilty and was sentenced to 18 months in prison for soliciting charges. It is unclear what the terms of Maxwell's discussions will be or if she will agree to be a cooperating witness with the justice department. It is also unclear what benefit she may gain from cooperating with the government. Typically, cooperating witnesses receive certain benefits for working with the government, including visas, reduced sentences and, at times, government protection. 'For the first time, the Department of Justice is reaching out to Ghislaine Maxwell to ask: what do you know?' Blanche posted on X. It is unclear what steps will be taken by the justice department, considering the recent shake-up at the US attorney's office in Manhattan, which prosecuted the federal cases, Politico reports. All of the prosecutors who worked on the Epstein and Maxwell cases, except one, have left the Manhattan US attorney's office in recent months. Trump has also been in the crosshairs of the Epstein dilemma, due to his past ties to the financier. Epstein once said he was Trump's 'closest friend'. Additionally, the Wall Street Journal reported last week that Trump allegedly sent a 'bawdy' letter to Epstein in 2003. Trump sued the Wall Street Journal and its owners, and the paper was later banned from participating in the press pool during Trump's upcoming trip to Scotland. Alan Dershowitz, who was an attorney for Epstein, recently said that Maxwell would be willing to testify during an interview with Fox News, if offered immunity. 'She knows everything, she is the Rosetta Stone,' Dershowitz said. 'If she were just given 'use immunity', she could be compelled to testify. I'm told that she actually would be willing to testify.' In a separate interview with Real America's Voice, Dershowitz said that Maxwell should not be in prison. 'She is really serving Jeffrey Epstein's sentence,' Dershowitz said. 'After he committed suicide, there was no one else to prosecute 'cause there was no real information against anybody else. And so they went after her and they sentenced her to the sentence that would have been appropriate for Epstein, but not at all appropriate for her. 'She deserves to be out,' he added. The best public interest journalism relies on first-hand accounts from people in the know. If you have something to share on this subject you can contact us confidentially using the following methods. Secure Messaging in the Guardian app The Guardian app has a tool to send tips about stories. Messages are end to end encrypted and concealed within the routine activity that every Guardian mobile app performs. This prevents an observer from knowing that you are communicating with us at all, let alone what is being said. If you don't already have the Guardian app, download it (iOS/Android) and go to the menu. Select 'Secure Messaging'. SecureDrop, instant messengers, email, telephone and post See our guide at for alternative methods and the pros and cons of each.
Forbes
5 hours ago
- Business
- Forbes
Trump Tariffs: China Trade Deal Likely Be Extended, Bessent Predicts
Topline The Trump administration's trade deal with China that sharply lowered the tariff rate on Chinese imports is expected to be extended past its Aug. 12 deadline, Treasury Secretary Scott Bessent predicted Tuesday, though he maintained higher tariff rates on other countries' imports are still slated to take effect Aug. 1 as scheduled. Copyright 2025 The Associated Press. All rights reserved Key Facts Bessent will hold trade discussions in Stockholm, Sweden, next Monday and Tuesday with his Chinese counterparts, the Treasury Secretary told Fox Business on Tuesday, during which the two countries will 'be working out what is likely an extension' to the current deadline. The Trump administration and Chinese government announced a 90-day trade deal in May, which lowered the tariff rate on most Chinese imports into the U.S. from a combined 145% down to 30%. Bessent said he thinks trade is 'in a very good place with China' but suggested the Trump administration still has more it wants Beijing to agree to, such as China pulling back on its manufacturing and building more of a 'consumer economy,' as well as ending its practice of buying sanctioned Russian oil. While it remains to be seen what tariff rate on Chinese goods could become permanent, Bessent suggested the Trump administration will likely keep the 30% rate, saying it was able to move on to other issues in its negotiations with China 'now that trade has kind of settled in at a good level.' The Treasury Secretary was less flexible when it came to projecting what will happen on Aug. 1, when the tariff pause on every other country's tariffs expires, calling it a 'pretty hard deadline' for 'all countries.' What Will Happen With Tariffs On Aug. 1? The Trump administration has so far only sent out letters to only some countries that impose new tariff rates, scheduled to take effect on Aug. 1, and reached full negotiated trade deals with even fewer. Countries that have received new tariff rates include major trading partners like the European Union (30% tariff rate), Mexico (30%) Japan (25%), South Korea (25%) and Brazil (50%). While he suggested the administration still intends to impose more new tariff rates in the coming days, Bessent said Tuesday he expects that any countries that haven't had a new rate imposed by Aug. 1 will just 'boomerang' back to the tariff rates that President Donald Trump first imposed during his April 'Liberation Day' announcement. Those tariffs range between 10% and 50% depending on the country. The Treasury Secretary also suggested that even if new tariff rates take effect on Aug. 1 as scheduled, the administration will still continue its trade negotiations with other countries. The deadline 'doesn't mean we can't negotiate when the countries are at the higher level,' Bessent told Bartiromo, claiming the president's high tariff rates are a 'pretty ingenious strategy' by Trump to inspire other countries to reach trade deals faster. What We Don't Know If the tariffs will actually take effect as scheduled. Trump has already extended the deadline on his tariff pause once before, from July 9, and has come under scrutiny in the past for backing off the worst of his tariff plans as they've caused the stock market to drop—earning him the Wall Street nickname 'TACO Trump,' for 'Trump always chickens out.' Tangent Bessent also expressed confidence in Federal Reserve chair Jerome Powell in his Tuesday interview with Fox, amid speculation that the Fed chair could either resign or be ousted by Trump—which the president has so far denied he'll do. 'I know Chair Powell. There's nothing that tells me that he should step down right now. He's been a good public servant,' Bessent told Bartiromo. 'His term ends in May. If he wants to see that through, I think he should. If he wants to leave early, I think he should.' Key Background Trump has made tariffs the centerpiece of his economic policy, rolling out tariffs on nearly all countries in April despite longstanding concerns from economists that doing so would raise prices for consumers and harm the economy. The president's sweeping 'Liberation Day' tariffs initially briefly took effect on April 9, but the worst of the tariffs were swiftly paused, with Trump putting only a baseline 10% rate in place for 90 days after the markets plunged. While the Trump administration vowed to use the pause to negotiate trade deals—promising '90 deals in 90 days'—the government has so far only announced deals with a few countries, prompting Trump to start just sending out letters imposing new tariff rates before announcing the deadline was extended. Trump initially imposed the harshest tariffs on China, which he previously had a trade war with during his first term. The president levied a combined 145% tariff rate on the country during the 90-day pause, even as other nations had their rates dropped down to 10%, before the two governments were able to broker a deal in May. Further Reading Forbes Trump 'TACO' Tracker: Here Are The President's 28 Tariff Flip-Flops Forbes US And China Agree To Roll Back Most Tariffs For 90 Days As Negotiations Continue
