Trump Accuses Brazil of ‘Witch Hunt' Against Bolsonaro, Pledges Tariffs
Mr. Trump said in an online post Monday that the criminal charges against Mr. Bolsonaro were 'nothing more, or less, than an attack on a Political Opponent — Something I know much about!' He added, 'LEAVE BOLSONARO ALONE!'
President Luiz Inácio Lula da Silva of Brazil quickly fired back. 'I think it's very wrong and very irresponsible for a president to be threatening others on social media,' he told reporters on Monday. 'People have to learn that respect is a good thing.'
He added about Mr. Trump: 'He needs to know that the world has changed. We don't want an emperor.'
On Wednesday, Mr. Trump told reporters that new tariffs on Brazil were coming. 'Brazil, as an example, has been not good to us. Not good at all,' he told reporters. He said he planned to announce the added levies later on Wednesday or Thursday.
The sudden squabble between the Western Hemisphere's two largest nations appears to show how Mr. Trump's personal feuds can influence his foreign policy.
Mr. Trump said on Wednesday that new planned tariffs against a series of nations were 'based on common sense, based on deficits, based on how we've been treated over the years.'
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Newsweek
18 minutes ago
- Newsweek
Trump Admin Sues California Over Soaring Egg Prices
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The Trump administration has sued California over its animal cruelty laws, saying the state's regulation of chicken farms has led to high egg prices across the country. Lowering the cost of eggs, which spiked in recent years as an avian flu outbreak ravaged American flocks, was one of President Donald Trump's key campaign promises in the lead-up to the 2024 election. But almost six months into his second mandate, his administration has struggled to keep the cost of the staple down. The administration now says California's regulations create "unnecessary red tape" in the production of eggs and are responsible for stubbornly high prices. The lawsuit is the latest flash point in the ongoing battle between the U.S. president and the Democratic-led state, which has clashed with the Trump administration over its aggressive immigration policies and transgender rights. "Trump's back to his favorite hobby: blaming California for literally everything," the office of California Governor Gavin Newsom wrote on X, formerly Twitter, about the lawsuit. "Next up: @CAGovernor Gavin Newsom caused the fall of Rome and sent the asteroid that wiped out the dinosaurs!" What Is the Lawsuit About? The lawsuit, which the Trump administration filed in Los Angeles federal court, blamed the Golden State's animal cruelty laws—widely regarded as among the strictest and most progressive in the nation—for creating the conditions that led to the current spike in egg prices across the country. The laws, the Trump administration argued, have prevented "farmers across the country from using a number of agricultural production methods which were in widespread use—and which helped keep eggs affordable." Under Proposition 2, an initiative approved by California voters in 2008 and implemented in 2015, the state forbids farmers from packing chickens together so close that a hen cannot "lie down, stand up, fully extend its limbs, and turn around freely." Essentially, the state bans the use of chicken battery farms, a method of intensive egg production where hens are stacked in rows and rows of tiny cages, which restrict their natural movements and can cause the animals high levels of stress and frustration. A composite image of a supermarket shopper walking past an egg display in Monterey Park, California, on February 10 and an inset of President Donald Trump in the State Dining Room of the White House... A composite image of a supermarket shopper walking past an egg display in Monterey Park, California, on February 10 and an inset of President Donald Trump in the State Dining Room of the White House in Washington, D.C., on July 9. More FREDERIC J. BROWN/AFP via Getty Images;Proposition 12, an initiative backed by California voters in 2018 and implemented in January 2022, outlawed the use of cages for egg-laying hens, sows and calves raised for veal, giving specific requirements of how much space farmers must give to their animals. Crucially, it also banned the in-state sale of products from caged animals raised out of state. The Trump administration's lawsuit argued that the federal Egg Products Inspection Act of 1970 should preempt any California state laws related to eggs. This law, the lawsuit says, gives the Departments of Agriculture and Health and Human Services the authority to regulate eggs to protect consumers' health and welfare, and it requires "national uniformity" in egg safety standards. "It is the prerogative of the federal government alone to regulate the quality, inspection, and packaging of eggs," the Justice Department wrote in its civil complaint. "Americans across the country have suffered the consequences of liberal policies causing massive inflation for everyday items like eggs," Attorney General Pam Bondi said in a statement. "Under President Trump's leadership, we will use the full extent of federal law to ensure that American families are free from oppressive regulatory burdens and restore American prosperity." It is not the first time that California's animal cruelty laws have been challenged in court. In 2014, six states—Missouri, Nebraska, Oklahoma, Alabama, Kentucky and Iowa—sued California over its egg regulations. The states lost both in a federal district court and the 9th U.S. Circuit Court of Appeals. Other states—including Colorado, Massachusetts, Michigan, Nevada, Oregon and Washington—have laws requiring eggs sold in the state to be from cage-free hens. In February, Nevada temporarily relaxed its cage-free requirements because of the shortages, but the rules were restored in June. How High Are Egg Prices? According to the latest consumer price index, egg prices nationwide averaged $4.55 per dozen in May—up from $2.69 a year earlier, according to data from the Bureau of Labor Statistics. The main reason behind higher egg prices is that supply has shrunk as a direct consequence of the avian flu that broke out in the country in February 2022 and has since wreaked havoc among American flocks. Under federal policy, to prevent the spread of the virus, entire flocks must be culled if even a single infected bird is found on a farm. Cage-free hens proved to be particularly vulnerable to the virus. In 2024, according to NerdWallet, cage-free hens represented almost 60 percent of all bird flu cases for the year, even as they accounted for about a third of egg-laying hens in the U.S. In January, the White House blamed the Biden administration for killing more than 100 million birds, most of which were egg-laying hens. The Trump administration's lawsuit against California does not mention the avian flu that has laid waste across the U.S. egg industry and led to the culling of millions of birds across the country over the past few years.
Yahoo
19 minutes ago
- Yahoo
Copper Traders Rush Metal to Hawaii to Capture Mega Tariff Trade
(Bloomberg) -- Copper traders racing to get cargoes into the US are looking to shift deliveries into Hawaii and Puerto Rico to cut shipment times, as Donald Trump's plan for 50% tariffs threatens to slam the door on a hugely profitable arbitrage trade that has gripped the industry for months. Singer Akon's Failed Futuristic City in Senegal Ends Up a $1 Billion Resort Are Tourists Ruining Europe? How Locals Are Pushing Back Can Americans Just Stop Building New Highways? Denver City Hall Takes a Page From NASA Philadelphia Trash Piles Up as Garbage Workers' Strike Drags On New York futures spiked to a roughly 25% premium over international benchmark prices in the wake of Trump's initial announcement on Tuesday, which means traders who can deliver metal into the US before the new levies stand to capture an even larger profit — or face big losses if the clock runs out. Subscribe to the Bloomberg Daybreak Podcast on Apple, Spotify and other Podcast Platforms. Trump's announcement points to the culmination of a dramatic shift that has played out in the copper market ever since the president first announced plans to put tariffs on copper in February. The resulting surge in US prices prompted an industry-wide dash to deliver metal into the US; stockpiles inside the country have soared, while the rest of the world faced a mounting supply squeeze. The shipments had been reducing in scale in recent weeks, as some traders started to brace for a tariff announcement, according to people familiar with the market. But there are still large volumes of copper on their way to US ports, they said. Copper inventories in the US are likely to hit 500,000 tons in the coming weeks, roughly half of which is in the key US storage hub of New Orleans, according to estimates from participants active in the market. Metal is also being stored in Port Panama City in Florida. 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Buyers are particularly willing to pay more for brands that are eligible for delivery against Comex contracts, meaning that they could re-sell them on the exchange as a last resort if they cannot find other homes for the copper upon arrival in the US. Shipments from Asia to New Orleans typically take over a month, so any traders sending metal now would risk being caught on the wrong side of the tariffs, which are due to become effective at the start of next month. But the journey to Hawaii is roughly ten days, and at least one trader has already completed a shipment to the Pacific state, according to a person familiar with the matter. For producers in South America, Puerto Rico is a similarly attractive delivery point because it is part of the US customs territory, some of the traders said. In Chile, the key supplier of copper to the US, mining companies have been huddled in meetings to discuss how to prioritize shipments to the US through the end of July under their agreements with existing customers. Trump's announcements means that traders now face a race against time — especially those that paid large premiums to get their hands on copper cargoes. They stood to make a huge profit shipping that metal to the US, but now face the risk that the tariffs will be implemented while the metal is on the water. Traders are also wrestling with a long list of unknowns. Besides the timing, Trump's remarks leave questions over which types of copper will be subject to tariffs. Previous metal tariffs imposed by the administration have also exempted cargoes already on the water when the levies take effect, providing potential wiggle room for traders willing to take that risk. The size of the gap between New York and London prices — far below 50% — also suggests a level of uncertainty about whether a 50% tariff will really be universally applied on refined copper imports. --With assistance from Archie Hunter. (Updates with president's social-media post in sixth paragraph.) Will Trade War Make South India the Next Manufacturing Hub? 'Our Goal Is to Get Their Money': Inside a Firm Charged With Scamming Writers for Millions Pistachios Are Everywhere Right Now, Not Just in Dubai Chocolate 'Telecom Is the New Tequila': Behind the Celebrity Wireless Boom SNAP Cuts in Big Tax Bill Will Hit a Lot of Trump Voters Too ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20 minutes ago
- Yahoo
White House advisor sends hard-nosed message to Apple
White House advisor sends hard-nosed message to Apple originally appeared on TheStreet. President Trump began a wild tariff ride when he started his second term. On April 2, Trump announced "reciprocal tariffs" on all countries not subject to other sanctions, and additional tariffs for 57 major trading partners were planned for April 9, but were later paused. Trump also imposed 25% tariffs on Canada and Mexico, but later exempted products that were compliant with the United States-Mexico-Canada Agreement. 💵💰 Don't miss the move: Subscribe to TheStreet's free daily newsletter💰💵 The United States and China reached an agreement in Geneva in May to temporarily slash tariffs in an effort to de-escalate the trade conflict between the two countries. The joint statement revealed the US will temporarily decrease its average tariffs on Chinese products from 145% to 20% and China will reduce its duties on American products from 125% to 10%. The pause on additional "reciprocal tariffs" was supposed to expire on July 9. However, on July 7, Trump extended the pause to August 1 while at the same time sending "tariff letters" to some countries, warning they would be subject to a new tariff rate if they didn't reach an agreement with the US by the new deadline. It appears that the on-again, off-again tariff situation has been best described by an asset management firm, Franklin Templeton: "Continued uncertainty appears to be the only certainty." Technology is one of the industries heavily impacted by trade wars. Among the many tech giants, one is gaining special attention tariff-wise: Apple. In February, the tech giant announced it plans to invest $500 billion in the United States, which was praised by Trump. In April, the government announced that certain electronics like smartphones and laptops would, at least temporarily, be excluded from the tariffs placed on China. However, officials have indicated that additional, sector-specific tariffs on electronics are to tariffs, Apple () made a major move: It shifted more of its iPhone production to India, reducing its reliance on China. In March, it shipped nearly $2 billion worth of iPhones to the US, a record amount for its two India-based suppliers. Shifting production to India provoked Trump, who wanted new tariffs to boost US production instead of moving production from China to other countries. "I have long ago informed Tim Cook of Apple that I expect their iPhones 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 in May. "If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S." Later that same day, Trump explained that tariffs would not only impact Apple but also other tech companies such as Korea's Samsung. More Tech Stocks:More recently, White House trade advisor Peter Navarro commented on Apple's overseas production. During an interview on CNBC's "Squawk on the Street," Navarro went straight after Apple's CEO, saying: "Going back to the first Trump term, Tim Cook has continually asked for more time in order to move his factories out of China. I mean it's the longest-running soap opera in Silicon Valley." According to Navaro, Cook isn't moving manufacturing out of China quickly enough, writes CNBC."With all these new advanced manufacturing techniques and the way things are moving with AI and things like that, it's inconceivable to me that Tim Cook could not produce his iPhones elsewhere around the world and in this country," Navarro said. How complicated would it be to move iPhone production to the US, and what would be the consequences? Wedbush Securities Senior Analyst Dan Ives previously warned that moving Apple's manufacturing to the US could make an iPhone priced at around $3,500, probably making many people reluctant to even consider buying. The time it would take to relocate production is estimated to be five to 10 years. "We believe the concept of Apple producing iPhones in the U.S. is a fairy tale that is not feasible," Ives said, according to Barron' House advisor sends hard-nosed message to Apple first appeared on TheStreet on Jul 9, 2025 This story was originally reported by TheStreet on Jul 9, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
