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The Guardian
12 hours ago
- Business
- The Guardian
US and China hold trade talks after Donald Trump eyes ‘world tariff'
Update: Date: 2025-07-29T06:58:13.000Z Title: US-China talks extension 'likely' as Trump targets 'world tariff' Content: Good morning, and welcome to our live coverage of business, economics and financial markets. After the US and EU announced the outline of a trade deal that would limit tariffs to 15%, it looks like talks with China could be the next on the agenda, with an extension of a truce in the trade war 'likely', according to a top official in the Trump administration. US Treasury chief Scott Bessent arrived yesterday in Sweden, alongside China's vice premier He Lifeng, according to Reuters. Back in the US, Howard Lutnick, the commerce secretary told Fox News that a delay to a higher tariff deadline was probable: Is that a likely outcome? Sure, it seems that way, but let's leave it to President Trump to decide. Donald Trump triggered financial market chaos after slapping tariffs at 145% on China. However, in May he announced a 90-day pause, lowering tariffs to (a still significant) 30%. That left a deadline of 12 August for the talks, but it is US trade representative Jamieson Greer told the CNBC news channel he did not expect 'some kind of enormous breakthrough today' at the talks in Stockholm, although he flagged that a deal last month to speed up rare earth metal imports from China to the US would be on the agenda. He said: What I expect is continued monitoring and checking in on the implementation of our agreement thus far, making sure that key critical minerals are flowing between the parties and setting the groundwork for enhanced trade and balanced trade going forward. It came after the US and EU announced a deal to limit tariffs to 15%. The end of market uncertainty appeared to be welcomed at first by markets on Monday – only for the mood to sour somewhat later in the day. The French prime minister, François Bayrou, said the EU had capitulated to Donald Trump, and said it was a 'dark day' for the EU. Trump on Monday suggested that he could impose a 'world tariff' on all of the countries that have not agreed a trade deal. That tariff could be 15% or 20% – meaning that, after all the negotiating effort, the EU could be left with similar terms to the rest of the world. At his golf course in Scotland yesterday, while visiting UK Prime Minister Keir Starmer, Trump said: I would say it'll be somewhere in the 15 to 20% range. Probably one of those two numbers. On the prospects of Chinese talks, Trump said: I'd love to see China open up their country. Back in May, Trump had said that China had already 'agreed to open up' – but it appears there may be more work to be done. 9:30am BST: Bank of England mortgage approvals (June; previous: 63,032; consensus: 63,000) 9:30am BST: Bank of England consumer credit (June; previous: £859m; consensus: £1.2bn)
Al Bawaba
a day ago
- Politics
- Al Bawaba
Trump slams London Mayor as 'radical and nasty' during UK visit
ALBAWABA- U.S. President Donald Trump stirred controversy during his visit to the United Kingdom by launching a personal attack on London Mayor Sadiq Khan, calling him a "radical and nasty person." The comments came during a press interaction at Trump's golf resort near Turnberry in southwest Scotland, where he met with British Prime Minister Keir Starmer. The two leaders had reportedly discussed trade relations and the humanitarian crisis in Gaza, which Trump allegedly blamed on Hamas. Tensions rose when a British reporter asked Trump if he planned to visit London during his state visit. Trump confirmed he would, but seized the moment to criticize Mayor Khan. "I will. I'm not a fan of your mayor. I think he's done a terrible job. He's a nasty person," Trump said. The unexpected outburst created an awkward moment for Prime Minister Starmer, who attempted to ease the tension with a nervous laugh, responding, "He's a friend of mine!" 🚨 LMAO! President Trump just threw MASSIVE shade at Mayor of London Sadiq Khan while sitting next to the UK Prime Minister ONLY Trump 🤣 "I'm not a fan of your mayor. I think he's done a TERRIBLE job, the mayor of London. He's a nasty person." Starmer looks so uncomfortable😂 Also Read Saudi-French led UN conference pushes two-state solution amid U.S.-Israeli boycott July 28, 2025 Trump, however, stood by his remarks, reiterating, "I think he's done a terrible job, but I would certainly visit London." The exchange reignited Trump's long-running feud with Khan and drew attention both in the UK and abroad. Many observers noted the unfiltered and undiplomatic tone of the remarks, especially given the setting and the presence of the British prime minister. The incident also overshadowed what was expected to be a more policy-focused meeting between Trump and Starmer, highlighting instead Trump's continued willingness to inject personal grievances into international diplomacy.
Yahoo
a day ago
- Business
- Yahoo
What's Going On With Super Micro Stock On Monday?
Super Micro Computer (NASDAQ:SMCI) stock is trading upwards on Monday, akin to its semiconductor peers. This coincides with reports indicating the United States paused new restrictions on tech exports to China to avoid disrupting trade talks and support President Donald Trump's effort to meet with Chinese President Xi Jinping later this year. According to the report, which cited current and former U.S. officials, the Commerce Department's Bureau of Industry and Security received instructions in recent months to delay strict enforcement of export controls on policy shift comes as top U.S. and Chinese economic officials prepare to launch high-level trade discussions in Stockholm aimed at resolving long-standing disputes. The AI server specialist has seen a remarkable surge in its valuation this year, boasting a year-to-date gain exceeding 90%, with a notable 56% increase over the past three months. This robust performance is largely attributed to significant capital expenditure by leading technology companies on their artificial intelligence initiatives, fueling demand for Super Micro's specialized server solutions. In a related development, Super Micro partner Digi Power X (NASDAQ:DGXX) announced that its subsidiary, US Data Centers, filed a provisional utility patent for the ARMS 200 platform with the U.S. Patent Office. The ARMS 200 represents a Tier 3-certified modular data center, developed in collaboration with Super Micro, and engineered to support an impressive density of up to 256 Nvidia (NASDAQ:NVDA) B200/B300 GPUs per pod. Digi Power X intends to scale this platform to 40 MW at its Alabama facility, designed to power over 10,000 Nvidia GPUs for intensive AI workloads. The initial deployment of this advanced infrastructure is slated for the fourth quarter of 2025. It is worth noting that Digi Power X shares surged over 14% on July 17 following the announcement of a purchase order with Super Micro for Nvidia B200-powered systems, intended to underpin its Tier 3 AI infrastructure. Despite these positive developments, Super Micro has faced increased regulatory scrutiny concerning its internal financing controls. This heightened oversight followed the resignation of its independent auditor last October, an event that led to delays in the company's financial filings. Furthermore, persistent tariff uncertainties have compelled Super Micro to defer certain orders and revise its fiscal year revenue forecast downwards, narrowing the range to $21.8–$22.6 billion from the previously projected $23.5–$25 billion. Price Action: SMCI shares were trading higher by 8.23% to $58.97 at last check Monday. Photo via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? SUPER MICRO COMPUTER (SMCI): Free Stock Analysis Report This article What's Going On With Super Micro Stock On Monday? originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
BreakingNews.ie
2 days ago
- Business
- BreakingNews.ie
Trump and von der Leyen meeting is ‘significant and decisive', McGrath says
The meeting between Donald Trump and the president of the European Commission is a 'significant and decisive moment', with hopes for a tariff deal between the US and the EU, Commissioner Michael McGrath has said. Mr McGrath, EU Commissioner for Democracy, Justice, the Rule of Law and Consumer Protection, said today will involve substantive negotiations between both sides. Advertisement The US president will meet European Commission President Ursula von der Leyen for talks on the trading relationship between Europe and the US. US president Donald Trump enjoyed a round of golf before his meeting with Ursula von der Leyen (Jane Barlow/PA) The Commission President will meet Mr Trump at his golf resort in Scotland. The EU negotiators are hoping to avoid a 30 per cent US tariff on European goods that was threatened by Mr Trump earlier this month. Mr McGrath said they are hoping for a conclusion and for a 'good outcome' for the EU, but said that it has prepared for other outcomes. 'It's a significant moment, we hope a decisive moment, and it builds on an enormous amount of work that has been done over quite a period of time,' Mr McGrath said ahead of the meeting. Advertisement 'President Trump invited President von der Leyen to Scotland for a meeting. 'This follows on the back of intensive negotiations over a number of months. 'It is a live negotiation. We are hoping for a conclusion and for a good outcome on behalf of the European Union, but we also have to be prepared that other outcomes are possible.' He added: 'We are close to the deadline of August 1st. It is a matter of days away, and we are at a point where the final items of negotiation require the input of the key leaders of President von der Leyen on behalf of the European Union and president Trump. Advertisement 'It is very often the case that you narrow negotiations down to a select number of outstanding items, and I think that is the point where we are at now. 'I had a good discussion with Commissioner [Maros] Sefcovic yesterday. He will also be there today, and I understand his interlocutors on the US side will also be present. So it will be a substantive negotiation today. 'It is not a case of turning up and signing on the dotted line. There will be a real discussion that will happen, and it will take on a dynamic of its own, and let's see what happens over the course of the afternoon. 'But from the EU's point of view, we are determined to do all that we can to get a deal for European businesses, because we recognise the cost of uncertainty. Advertisement 'It manifests in trade and in investment decisions and ultimately in employment and of course, tariffs can cost consumers at the end of the day. 'We want a good deal. We have negotiated hard, and we're at a point now where hopefully the two leaders can today bring it to a concluding phase.' He said the EU wants to reach a 'comprehensive' agreement and final settlement on all the outstanding issues, including pharmaceuticals. World Trump gets down to business with trade talks with... Read More 'Of course, when it comes to pharma, there are genuine issues of availability of medicine that have to be considered, and also affordability of medicine on both sides of the Atlantic,' he added. Advertisement 'The supply chains are complex in relation to pharma, the European Union has been hugely successful in developing the pharma industry, the broader life sciences sector, and certainly that is the case here in Ireland as well. 'We do want to bring clarity and certainty, including in relation to pharma, over the course of the discussions. It remains to be seen if that can be achieved today.'
Yahoo
5 days ago
- Sport
- Yahoo
Padres-Red Sox trade idea lands non-Jarren Duran Boston outfielder
The San Diego Padres are expected to be interested in Boston Red Sox outfielder Jarren Duran. However, there's a chance that the Red Sox won't move on from Duran, and instead, trade someone like Wilyer Abreu. Abreu has been excellent for the Red Sox this year, and he's only 26 years old, looking like a potential star in this league one day, if his bat ever plays up to the level that everybody knows it can. Despite the unlikelihood of him being traded, The Athletic recently named him the fifth-best player on the market, noting that the Padres could be a potential fit. MORE: Padres 'don't match up' with Red Sox in trade for All-Star MVP 'Abreu, like Duran, could become expendable in Boston thanks to the wave of young bats. But he's also young enough (26) and under team control for long enough (2029) to be part of the Red Sox's long-term plan, putting them in the driver's seat for any potential negotiations. 'Even if the Red Sox are open to trading Abreu, there's no rush to do so now. He's putting up very good numbers at the plate that are in line with his strong rookie showing, and he will be in the mix for a second Gold Glove Award and won't even be arbitration eligible until 2027,' they wrote. This will likely come down to what the Red Sox do regarding Duran. If they get a better offer for Abreu than Duran, it's possible they could go that route. However, considering he doesn't have to be traded now and isn't arbitration eligible until 2027, it seems like a better idea to move on from Duran, who is arbitration eligible after this season. MORE MLB NEWS: Padres make Dylan Cease, Michael King trade deadline decisions Tigers 'make a lot of sense' in trade for $275 million All-Star third baseman Tigers expected to aggressively pursue impact closer at trade deadline Astros named a 'strong trade fit' for Braves three-time All-Star silver slugger MLB insider reveals Guardians' trade demands for Steven Kwan MLB insider reveals three relievers Cardinals are most likely to trade
