Latest news with #USTariff
CNN
24-05-2025
- Business
- CNN
The latest on Trump's presidency as he addresses West Point graduates
Update: Date: 8 min ago Title: EU trade chief says a deal with the US must be based on respect, not threats Content: A trade deal between the European Union and the US must be based on 'mutual respect, and not threats,' the EU's trade chief said, after President Donald Trump threatened the bloc with a 50% tariff. 'The EU's fully engaged, committed to securing a deal that works for both,' Maroš Šefčovič wrote in a post on X yesterday after a call with US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick, adding that the European Commission 'remains ready to work in good faith.' However, he said, EU-US trade 'must be guided by mutual respect, not threats.' 'We stand ready to defend our interests,' Šefčovič added. Some context: Trump raised the prospect of the 50% tariff on goods from the EU yesterday, citing a lack of progress in trade negotiations. The tariff Trump is considering slapping on the EU is more than double the size of the 20% initial 'reciprocal' tariff that was briefly in place in April before he swiftly paused those tariffs to allow for further negotiations. In a post on Truth Social, the president said he took particular issue with 'non-monetary trade barriers,' as he has repeatedly called them, as well as countries or trading blocs that run trade deficits with the US. Those occur when the US purchases more from another trading partner than that country purchases from the US. CNN's Elisabeth Buchwald contributed reporting to this post. Update: Date: 18 min ago Title: Trump's trade war: What to know about the president's latest tariff threats Content: President Donald Trump issued a pair of new threats in his ever-evolving trade policy yesterday, taking aim at the European Union and cellphone makers. Here are the two key tariff headlines entering the weekend: Trade demands for the EU: The president has threatened a 50% tariff on goods from the European Union, citing a lack of progress in negotiations and policies he says are contributing to an unacceptable trade deficit with the bloc. 'Our discussions with them are going nowhere!' Trump said in a Truth Social post yesterday morning. 'Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025.' During an executive order signing in the Oval Office later that day, Trump escalated his message: 'I'm not looking for a deal,' he said. 'We've set the deal — it's at 50%.' Trump did open the door to pushing his June 1 deadline further, however, and his tariff threats have repeatedly been followed by reversals and delays. Ultimatum for smartphone makers: Trump also demanded yesterday that Apple and other smartphone makers like Samsung make their phones in the US or face a 25% tariff. 'I have long ago informed Tim Cook of Apple that I expect their iPhone's that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else,' Trump wrote on Truth Social. 'If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S.' Trump later told reporters in the Oval Office that the tariff would apply to any phone maker selling devices in the US, calling out Samsung by name. The threat comes after Trump expressed displeasure last week that Apple plans to manufacture iPhones for sale in the US at newly built plants in India. Update: Date: 19 min ago Title: Watch: Breaking down a busy week at the White House Content: In another busy week, President Donald Trump met at the Oval Office with the South African President Cyril Ramaphosa and tracked Republican efforts to get his sweeping tax and spending cuts package through Congress. CNN's Kaitlan Collins debriefs on the past few days at the White House:
Time of India
22-04-2025
- Business
- Time of India
US, India Set Trade Goal, Strengthen Ties on Defence, Energy and Innovation: JD Vance
US Vice President JD Vance highlighted the immense potential of the India-US partnership, emphasizing that both nations have much to gain by working together. Speaking at an event in Jaipur during his India visit, Vance underlined the Trump administration's vision for deeper cooperation with India across various sectors. He stated that President Trump is committed to fostering growth not just for America, but for India as well, aiming to build a strong, prosperous future with trusted partners. Vance reiterated that collaboration between the two countries could unlock new opportunities in trade, security, technology, and energy, benefiting both economies and strengthening their strategic ties.#TOIBharat #TradeDeal #USTariff #IndiaUS #IndiaUSTradeDeal #IndoUS #IndiaUSRelation #JDVance #VanceIndiaVisit #NarendraModi #DonaldTrump
