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Daily Mail
8 minutes ago
- Daily Mail
White House in 'full-bore panic mode' over Epstein files and FBI 'breaking at the seams'
President Trump is reportedly furious over the botched handling of the Jeffrey Epstein files as The White House launches into 'full-bore panic mode' in a desperate attempt to change the subject. The Justice Department and FBI have come under fire as they scramble to end the ongoing fallout after Attorney General Pam Bondi's so-called 'communications failure' snowballed into a crisis. Trump is now fuming about the inconsistent Epstein narratives emerging from Washington D.C. as the saga continues to dominate headlines. 'This is a pretty substantial distraction,' a White House source told The Washington Post, citing 'nearly a dozen people close to the situation.' 'While many are trying to keep the unity, in many ways, the DOJ and the FBI are breaking at the seams. Many are wondering how sustainable this is going to be for all the parties involved - be it the FBI director or attorney general.' Any attempts by Bondi and FBI Director Kash Patel to tamp down the rampant speculation about Epstein have only fueled more conspiracy theories and negative attention. 'They completely miscalculated the fever pitch to which they built this up,' Stephen A. Saltzburg, a former Justice Department official told the Post. 'Now, they seem to be in full-bore panic mode, trying to change the subject and flailing in an effort to make sense of what makes no sense.' But Trump is refusing to make the one move that could silence his critics and reset the narrative. 'He does not want to create a bigger spectacle by firing anyone,' the source told the Post. So Bondi, Patel and FBI deputy director Dan Bongino continue their fruitless campaign to end the speculation around the death of one of the most infamous billionaire of the 21st century. The release of security footage from outside Epstein's jail cell from the night he took his own life - an attempt to stop conspiracy theories that he was murdered - was Patel and Bongino's idea, multiple sources revealed. However, the video missing three minutes of footage from that night made things worse. Both are now privately upset that they haven't been able to release more of the Epstein files with Bongino on the verge of quitting as all three play the blame game with one another. Bongino's frustration came to a head in a stunning post to X over the weekend, revealing he has discovered matters that have 'shocked me down to my core' during his time in office. He shared a cryptic message to his social media in which he vowed to uncover 'the truth' amid mounting criticism of his handling of the Epstein files. Bongino added: 'We cannot run a Republic like this. I'll never be the same after learning what I've learned. A source inside the DOJ told Daily Mail that Bongino was ready to stand down if Attorney General Pam Bondi didn't. Todd Blanche, the president's former attorney and now Bondi's second in command at the DOJ, denied any beef between his department and the FBI in a statement. 'The suggestion by anyone that there was any daylight between the FBI and DOJ leadership on this memo's composition and release is patently false,' he said. The fallout of that memo continues, with the Wall Street Journal reporting that Bondi told Trump in May that his name appeared in the Epstein files. Trump on Friday denied ever being briefed by Attorney General Pam Bondi that his name was in the files. 'No, I was never briefed. No,' he told reporters after he landed in Scotland to visit his golf courses. But Bondi briefed Trump during a May 2025 meeting that his name was found in the Epstein documents 'multiple times,' according to reports. Other high-profile individuals are also named in the investigation about Epstein's sex crimes. Just because the president is named in the files does not implicate him in any wrongdoing or connect him to Epstein's child sex trafficking crimes. Patel and Dan Bongino (pictured) are now privately upset that they haven't been able to release more of the Epstein files with Bongino on the verge of quitting as all three play the blame game with one another Todd Blanche (pictured), the president's former attorney and now Bondi's second in command at the DOJ, denied any beef between his department and the FBI The Wall Street Journal originally broke the news of Bondi's briefing to Trump. The Justice Department told the news outlet that Trump was made aware of the findings of the Epstein files as part of the 'routine briefing.' Bondi also allegedly acknowledged that the administration should withhold the files due to them containing images of child sexual abuse Blanche reportedly said that nothing was found in the files that would mandate an additional investigation - or even prosecution. 'As part of our routine briefing, we made the president aware of the findings,' they told the Journal. White House communications director Steven Cheung slammed the report as 'fake news' in a statement to the Daily Mail. 'The fact is that the president kicked him out of his club for being a creep. This is nothing more than a continuation of the fake news stories concocted by the Democrats and the liberal media, just like the Obama Russiagate scandal, which President Trump was right about,' he said when the report came out earlier this week. But, try as he might, Trump cannot move on from questions about Epstein, who died in a New York prison in 2019 while awaiting charges related to sex crimes. His death, ruled to be a suicide, sparked endless conspiracy theories that questioned how he may have really died and who among the rich and powerful would have benefitted from it. The president associated with Epstein and British socialite Maxwell in the 1980s and 1990s. Epstein's right-hand woman and former lover Ghislaine Maxwell was questioned this week by Deputy Attorney General Blanche. She is serving 20 years behind bars for his involvement in Epstein's crimes. The 63-year-old made it clear earlier this month that she was willing to speak in front of Congress about the case. Maxwell appears to be angling for a pardon from the president after she 'didn't hold back' during secret questioning session. Her attorney David Oscar Markus claimed that she spoke with Deputy Attorney General Todd Blanche about '100 different people' related to Epstein's child sex trafficking ring. 'They asked about every possible thing you could imagine – everything,' Markus told reporters. He also said Maxwell is being used as the 'scapegoat' in the entire Epstein case and has been 'treated unfairly for the last five years.' Her attorney said that they had not put in a formal request with the White House for a pardon for Maxwell following the conclusion of Day 2 of questioning. But Markus didn't rule out taking that action in the future, saying 'things are happening so quickly.' 'The president said earlier he has the power to do so, we hope he exercises that power in the right way,' he said of a potential commutation. Trump refused to rule out invoking his presidential pardon powers for Maxwell when asked on Friday morning. 'I'm allowed to do it, but it's something I haven't thought about,' he said. But, asked again about the matter later Friday, Trump, meanwhile, declined to talk about Maxwell and said 'this is no time to be talking about pardons.' 'I really have nothing to say about it. She is being talked to by a very smart man, a very good man, Todd Blanche. And I don't know anything about the conversation. I haven't really been following it,' he said. 'A lot of people are asking me about pardons. This is no time to be talking about pardons,' he added. Meanwhile, over the course of two days, Maxwell and her attorney have spent more than nine hours answering Blanche's questions. It's not clear when or if the DOJ will release what was learned in the meetings. Markus said Maxwell is grateful to have had the chance to sit-down with Blanche. 'This was the first opportunity she's ever been given to answer questions about what happened,' Markus said. 'The truth will come out about what happened with Mr. Epstein and she's the person whose answering those questions.' A growing fringe effort to get Trump to pardon Maxwell has unfolded after the Justice Department rejected her effort to have her conviction on child sex trafficking charges thrown out. Maxwell is serving a 20-year prison sentence for her role in conspiring with Epstein to sexually abuse minors. She was convicted in 2021 on five counts related to sex trafficking and conspiracy. It's unclear what she can reveal that isn't already public and the closed-door meeting is fueling skepticism over the handling of the Epstein files review. Maxwell is also on the books to testify before Congress from prison on August 11.
The Guardian
8 minutes ago
- The Guardian
EU-US tariffs: five key takeaways from the trade deal
Donald Trump has announced a deal with the EU imposing tariffs of 15% on most goods entering the US from Europe and requiring the bloc to make huge investments in US energy products, averting a trade war between the two of the world's largest economies. Though the 15% rate is half of what Trump had threatened, many will be disappointed by it. When the UK accepted tariffs of 10% in its trade deal with the US in May, it was widely reported that European leaders considered it to be a bad deal. Brussels also agreed to buy, over three years, $750bn (£560bn) worth of oil, gas, nuclear fuel and semi-conductors, including liquified gas, while at the same time agreeing to invest $600bn (£446bn) in the US, including purchases of military equipment, according to Trump. One analyst suggested the deal was a 'big win' for the US president while it was less clear what the EU gained. 'A 15% tariff on European goods, forced purchases of US energy and military equipment and zero tariff retaliation by Europe, that's not negotiation, that's art of the deal.,' Prashant Newnaha, senior Asia-Pacific rates strategist at TD securities said. Here are five key takeaways: The US will keep in place a 50% tariff on steel and aluminium according to Trump, although European Commission chief Ursula von der Leyen said the tariffs on steel could be replaced with a quota system with further negotiation. There was also confusion over pharmaceuticals after Trump said the sector would not be included, however a senior US official later confirmed that they were in fact covered by the 15% tariff. According to von der Leyen, zero tariffs will apply to a range of sectors including 'all aircraft and component parts, certain chemicals, certain generics, semiconductor equipment, certain agricultural products, natural resources and critical raw materials'. But there was ongoing uncertainty for some industries – Sunday's announcement did not clear up what tariffs European wine and spirits producers will face in the US. Carsten Nickel, deputy director of research at Teneo, said Sunday's accord was 'merely a high-level, political agreement' that could not replace a carefully hammered out trade deal: 'This, in turn, creates the risk of different interpretations along the way, as seen immediately after the conclusion of the US-Japan deal.' On Sunday, a senior US administration official told reporters in Washington that Trump retained the ability to increase the tariffs in the future if European countries do not live up to the investment commitments contained in the deal. The deal creates a division on the island of Ireland, as traders in Northern Ireland can sell into the US on a 10% tariff rate, courtesy of the UK deal, while their neighbours in Ireland will be hit with the 15% rate. The disparity will make for difficult diplomatic conversations over guarantees to maintain stability on the entire island in the Good Friday agreement, which had already been rocked by the fallout from Brexit, when customs arrangements involving Northern Ireland became a huge headache for EU and UK negotiators. Ireland's deputy prime minister, Simon Harris, said he 'regretted' the 15% tariff rate but said 'certainty' was important. German Chancellor Friedrich Merz welcomed the deal, saying it averted a trade conflict that would have hit Germany's export-driven economy and its large auto sector. German carmakers, VW, Mercedes and BMW were some of the hardest hit by the 27.5% US tariff on car and parts imports now in place. But the powerful BDI federation of industrial groups was vocal in its disappointment. 'Even a 15% tariff rate will have immense negative effects on export-oriented German industry,' said Wolfgang Niedermark, a member of the federation's leadership. The country's VCI chemical trade association said the accord left rates 'too high'. The impact of the tariffs is likely to be substantial on some companies; automaker Volkswagen said it suffered a 1.3bn euro ($1.5bn) hit to profit in the first half of the year from the higher tariffs. Though von der Leyen framed the agreement as a 'good deal' that would bring 'stability' and 'predictability', Brussels' original aim in the talks was for a 'zero-for-zero' tariff deal and tariffs remain far higher than historically. 'The crippling uncertainty is largely over, the deal is bearable for the EU,' said Holger Schmieding, chief economist at Berenberg Bank. 'Trump can claim that the asymmetric deal is a 'win' for him. But of course, the outcome is still bad relative to the situation that prevailed before Trump started his trade wars.' US consumers are also likely to bear the costs of tariffs as companies pass on the expense in increased prices, many economists have warned. With agencies
The Independent
37 minutes ago
- The Independent
Asian shares are mixed after Wall Street sets more records for US stocks
Stock markets in Asia were mixed on Monday after U.S. stocks rose to more records as they closed out another winning week. U.S. futures and oil prices were higher ahead of trade talks in Stockholm between U.S. and Chinese officials. European futures rose after the European Union forged a deal with the Trump administration calling for 15% tariffs on most exports to the U.S. The agreement announced after President Donald Trump and European Commission chief Ursula von der Leyen met briefly at Trump's Turnberry golf course in Scotland staves off far higher import duties on both sides that might have sent shock waves through economies around the globe. Tokyo's Nikkei 225 index lost 1% to 41,056.81 after doubts surfaced over what exactly the trade truce between Japan and U.S. President Donald Trump, especially the $550 billion pledge of investment in the U.S. by Japan, will entail. Terms of the deal are still being negotiated and nothing has been formalized in writing, said an official, who insisted on anonymity to detail the terms of the talks. The official suggested the goal was for a $550 billion fund to make investments at Trump's direction. Hong Kong's Hang Seng index gained 0.4% to 25,490.45 while the Shanghai Composite index lost 0.2% to 3,587.25. Taiwan's Taiex rose 0.3%. CK Hutchison, a Hong Kong conglomerate that's selling ports at the Panama Canal, said it may seek a Chinese investor to join a consortium of buyers in a move that might please Beijing but could also bring more U.S. scrutiny to a geopolitically fraught deal. CK Hutchison's shares fell 0.6% on Monday in Hong Kong. Elsewhere in Asia, South Korea's Kospi was little changed at 3,195.49, while Australia's S&P/ASX 200 rose 0.3% to 8,688.40. India's Sensex slipped 0.1%. Markets in Thailand were closed for a holiday. On Friday, the S&P 500 rose 0.4% to 6,388.64, setting an all-time for the fifth time in a week. The Dow Jones Industrial Average climbed 0.5% to 44,901.92, while the Nasdaq composite added 0.2%, closing at 21,108.32 to top its own record. Deckers, the company behind Ugg boots and Hoka shoes, jumped 11.3% after reporting stronger profit and revenue for the spring than analysts expected. Its growth was particularly strong outside the United States, where revenue soared nearly 50%. But Intell fell 8.5% after reporting a loss for the latest quarter, when analysts were looking for a profit. The struggling chipmaker also said it would cut thousands of jobs and eliminate other expenses as it tries to turn around its fortunes. Intel, which helped launch Silicon Valley as the U.S. technology hub, has fallen behind rivals like Nvidia and Advanced Micro Devices while demand for artificial intelligence chips soars. Companies are under pressure to deliver solid growth in profits to justify big gains for their stock prices, which have rallied to record after record in recent weeks. Wall Street has zoomed higher on hopes that President Donald Trump will reach trade deals with other countries that will lower his stiff proposed tariffs, along with the risk that they could cause a recession and drive up inflation. Trump has recently announced deals with Japan and the Philippines, and the next big deadline is looming on Friday, Aug. 1. Apart from trade talks, this week will also feature a meeting by the Federal Reserve on interest rates. Trump again on Thursday lobbied the Fed to cut rates, which he has implied could save the U.S. government money on its debt repayments. Fed Chair Jerome Powell has said he is waiting for more data about how Trump's tariffs affect the economy and inflation before making a move. The widespread expectation on Wall Street is that the Fed will wait until September to resume cutting interest rates. In other dealings early Monday, U.S. benchmark crude oil gained 24 cents to $65.40 per barrel. Brent crude, the international standard, also added 24 cents to $67.90 per barrel. The dollar rose to 147.72 Japanese yen from 147.71 yen. The euro slipped to $1.1755 from $1.1758.
