Trump Announces $175 Billion Rosie O'Donnell Defense System
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
25 minutes ago
- Yahoo
Brazil scrambles as U.S. tariff deadline looms, talks stall
By Luciana Magalhaes, Lisandra Paraguassu, Bernardo Caram and Ana Mano SAO PAULO (Reuters) -Brazil is scrambling to avert punishing 50% U.S. tariffs in a week's time, but high level talks are stalled and U.S. companies are reluctant to confront U.S. President Donald Trump over the issue, officials and industry leaders say. Trump linked the tariffs, which he has said would come into effect on Aug. 1, to Brazil's treatment of former President Jair Bolsonaro, who is on trial over charges of plotting a coup to stop President Luiz Inacio Lula da Silva from taking office. Lula has called the threatened duty "unacceptable blackmail." No new diplomatic talks have occurred since last month, and a Brazilian counter-proposal sent in May went unanswered, two diplomats with knowledge of the matter told Reuters. Brazilian Vice-President Geraldo Alckmin told reporters on Thursday that he reiterated the country's willingness to negotiate in a Saturday discussion with U.S. Secretary of Commerce, Howard Lutnick. The lack of communication has left Brazil with dwindling options as the deadline approaches. "If he wanted to talk, he would pick up the phone and call me," Lula said of Trump at an event on Thursday. The White House didn't immediately respond to a request for comment. Negotiations are complicated by U.S. concerns over the prosecution of Bolsonaro, a Trump ally, one diplomat said, calling it a major roadblock. Trump announced the proposed 50% tariffs on Brazil on July 9 despite a U.S. trade surplus with the country - lining it up for one of the world's very highest such levies, close to China's 55% rate. In a series of 18 meetings, Alckmin has urged representatives from U.S. firms including General Motors, John Deere and Alphabet Inc to press Washington on the issue. However, the companies are reluctant to confront Trump for fear of retaliation, according to a government official and Ricardo Alban, president of Brazil's main industry lobby, CNI. "Things are very tense," Alban told reporters on Thursday. Also on Thursday, a group of Democratic senators condemned the tariffs on Brazil as a "clear abuse of power" in a letter to Trump. The tariffs could have a severe economic impact. The CNI estimates over 100,000 Brazilian jobs could be lost, potentially trimming 0.2% from the country's gross domestic product. The country's powerful agribusiness lobby, CNA, projects the value of its U.S. exports could fall by half. Alban said the potential blow to exporters could be worse than the COVID-19 pandemic, adding that business leaders are asking the government for aid, suggesting new credit lines. In response, some companies are already adjusting their trade strategies. Motor maker WEG is considering a plan to use its plants in Mexico and India to supply the U.S., its chief financial officer told analysts. Meat exporter Naturafrig Alimentos has begun redirecting shipments to other countries, according to commercial director Fabrizzio Capuci. Other companies are turning to the courts. Orange juice producer Johanna Foods, for example, has sued the Trump administration over the proposed tariffs. Companies in sectors ranging from steel to chemicals are also facing export contract cancellations, according to one advisor who asked not to be named. Abiquim, an association that represents chemical companies in Brazil, confirmed cancellations due to the threat of tariffs, without naming the companies affected. A lobby group representing steel companies declined to comment.
Yahoo
25 minutes ago
- Yahoo
Trump says US may not have a negotiated trade deal with Canada
WASHINGTON (Reuters) -The United States may not reach a negotiated trade deal with Canada, U.S. President Donald Trump said on Friday, suggesting his administration could set a tariff rate unilaterally. Trump, speaking to reporters as he left the White House for a trip to Scotland, said, "We haven't really had a lot of luck with Canada. I think Canada could be one where there's just a tariff, not really a negotiation." The two nations are trying to work out a trade deal before August 1, when Washington is threatening to impose 35% tariffs on all Canadian goods not covered by the U.S.-Mexico-Canada trade agreement. Carney's office did not immediately respond to a request for comment. Canadian officials have increasingly made clear that the chances of a deal by August 1 are unlikely. Dominic LeBlanc, the federal cabinet minister in charge of U.S.-Canada trade, told reporters in Washington on Thursday after two days of talks that "we've made progress, but we have a lot of work in front of us." LeBlanc said Canada would take the time necessary to get the best deal possible. Carney indicated last week that Canada might not be able to persuade the United States to lift all its sanctions.
The Hill
26 minutes ago
- The Hill
Trump's trip to Scotland: What to know
President Trump departed Friday for a five-day stay in Scotland, where he is expected to meet with British and Scottish officials and visit his properties there. The White House has described the trip as a 'working visit,' pointing to planned discussions with British Prime Minister Keir Starmer about a trade agreement between the U.S. and the United Kingdom. But Trump will visit his properties at Turnberry and Aberdeen, giving a publicity boost to his personal golf courses and his family's brand while overseas. Here's what to know about Trump's visit. Talking trade with the UK Trump told reporters while leaving for Scotland that he would be meeting with United Kingdom Prime Minister Keir Starmer on Friday evening, expecting that the two will work through more aspects of the trade deal they struck in May. 'We're meeting with the prime minister tonight. We're going to be talking about the trade deal that we made and maybe even approve it,' Trump said. He added, 'we want to talk about certain aspects, which is going to be good for both countries. More fine-tuning. Also, we're going to do a little celebrating together, because, you know, we got along very well. U.K.'s been trying to make a deal with us for like, 12 years, and haven't been able to do it. We got it done, and he's doing a very good job, this prime minister. Good guy.' Last month, Trump and Starmer detailed the trade agreement together while at the Group of Seven (G7) summit in Canada after they first announced it in May. The deal includes 'billions of dollars of increased market access for American exports, especially for beef, ethanol, and certain other American agricultural exports,' according to the order, and includes a stipulation that the U.S. will create an annual quota of 100,000 cars for U.K. imports at a 10 percent tariff rate. It also stipulates that the U.K. remains committed to 'working to meet American requirements on the security of the supply chains of steel and aluminum products,' which would prompt the U.S. to 'promptly construct a quota at most-favored-nation rates for steel and aluminum articles.' The U.K. agreement was the first trade deal announced since Trump imposed tariffs on trading partners, although it was in the works before then. This week, Trump has also announced deals with Japan, Indonesia and the Philippines and the administration has continued talks with the European Union. In addition to meeting with Starmer, Trump is slated to meet with First Minister of Scotland John Swinney during his visit. 'We have a lot of things in Scotland,' Trump said. 'I have a lot of love, my mother was born in Scotland. And he's a good man.' Spotlight on Trump's properties and possible protests While the White House has billed Trump's trip as a working visit to Scotland, critics have highlighted how the president is once again mingling politics with his business interests. Trump owns two golf courses in Scotland— one in Aberdeen that opened in 2012, and one at Turnberry that opened in 2014. He is slated to celebrate the opening of a third on the trip. The new 18-hold course is outside of Aberdeen and will be named after his mother, Mary Anne MacLeod, who was born in Scotland. Ethics watchdogs and Democrats have accused Trump of blatantly profiting off of the presidency, pointing to the launch of a cryptocurrency, Trump-branded sneakers and Bibles and a line of fragrances, among other ventures. Visits to Trump properties tend to generate scrutiny, as the government pays for Secret Service and other White House staff to stay there as well. Trump is also expected to be greeted with protests during his stay in Scotland. A 'Stop Trump' coalition is organizing demonstrations in Aberdeen on Saturday, and in Edinburgh outside the U.S. consulate. Trump experienced protests during his last presidential visit to his Turnberry golf course in 2018, when groups gathered outside the property to boo the president and demonstrators flew a paraglider around the area with a message criticizing him. Trump left Washington amid GOP turmoil over Epstein Trump headed out of Washington while calls for the release of more materials related to deceased financier Jeffrey Epstein have grown. Trump said he hasn't thought about pardoning Ghislaine Maxwell on Friday morning, as she was set to meet for a second day with Deputy Attorney General Todd Blanche at the Tallahassee prison where she's serving her sentence. He also told reporters they should be focused on other Epstein associates and other topics, and suggested that he has a list of people who were associated with Epstein, other than him, that he could give to the media. 'People should really focus on how well the country's doing or they should focus on the fact that [former President] Barack Hussein Obama led a coup or they should focus on the fact that [former Treasury Secretary] Larry Summers from Harvard, that [former President] Bill Clinton, who you know very well, and lots of other friends, really close friends of Jeffrey [Epstein] should be spoken about,' Trump said. 'They don't talk about them, they talk about me. I have nothing to do with the guy,' he added. The Trump administration is facing increasing pressure to release more information from the Epstein files after the Justice Department earlier this month released a memo stating that Epstein killed himself and did not keep a client list. Attorney General Pam Bondi had previously said such files were on her desk. The House broke for its weeks-long August Recess one day early this week, while Republican leadership have tried to contain furor over the handling of the Epstein-related materials.
