Trump tariffs live updates: US, Japan differ on trade-deal profits; Trump raises tariff baseline rate
President Trump announced the deal on Tuesday, which includes a 15% tariff on imported goods and a $550 billion Japanese investment. However, the sides do not seem aligned on profit sharing, with Japan seeking a split based on contributions, while the US says it would keep 90%.
The Japan trade deal may have set a precedent for Trump's new baseline tariff rate. As the US finalized the deal with Japan and advanced talks with the EU, Trump said tariffs would range from 15% to 50%, with tougher partners facing higher rates.
Trump's April "Liberation Day" tariffs had set a baseline rate of 10% on all US trading partners.
The new floor has taken shape as the US makes progress on deals that have settled around that number. The US and European Union are closing in on a pact, multiple reports have said, even as EU members approved possible retaliatory package on over $100 billion worth of US goods. Reports say US tariffs on EU imports would dip to 15%, instead of the 30% Trump has threatened from Aug. 1.
Earlier this week, Trump also said the US had also struck a trade deal with the Philippines, which will see the country's imports face a 19% tariff into the US. Trump said US exports will face no import tax in the Philippines as part of the deal.
The White House also unveiled new details of a confirmed trade agreement with Indonesia. Yahoo Finance's Ben Werschkul reported that a 19% tariff will apply to Indonesian goods, as well as a 40% rate on any 'transhipped' goods. US officials said no tax would apply to "99%" of US imports.
The deal developments come as prospects for larger pacts with India and Canada remain in question. Trump has threatened 25% to 35% tariffs on those larger trade partners.
Read more: What Trump's tariffs mean for the economy and your wallet
Here are the latest updates as the policy reverberates around the world.
Japan, US differ on how trade-deal profits will be split
Japan said Friday that profits from the $550 billion investment deal with the US will be shared based on how much each side contributes. A government official suggested the US will also put in significant funds, but details of the scheme remain unclear.
The White House had announced earlier in the week that the US would retain 90% of the profits from the $550 billion US-bound investment and loans that Japan would exchange in return for reduced tariffs on auto and other exports to the US.
This would mean that returns would be split 10% for Japan and 90% for the US, according to the White House official, and that it would be "based on the respective levels of contribution and risk borne by each side."
Bloomberg News reports:
Read more here.
Trump: US will sell 'so much' beef to Australia
President Trump said on Thursday that the US will sell "so much" beef to Australia, following Canberra relaxing import restrictions.
Trump added that other countries who had refused US beef products were on notice.
Reuters reports:
Read more here.
World's No. 3 automaker Kia takes $570M tariff hit in Q2
Reuters reports:
Read more here.
Puma shares dive after warning of full-year loss, US tariff impact
Puma (PUM.DE) shares fell 17% on Friday after the sportswear brand said that it now expects an annual loss due to a decline in sales and US tariffs denting profit.
Reuters reports:
Read more here.
LG Energy Solution warns of slowing EV battery demand due to U.S. tariffs, policy headwinds
Reuters reports:
South Korean battery firm LG Energy (373220.KS) Solution warned on Friday of a further slowdown in demand by early next year due to U.S. tariffs and policy uncertainties after it posted a quarterly profit jump.
Its major customers Tesla (TSLA) and General Motors (GM) warned of fallout from U.S. tariffs and legislation that will end federal subsidies for EV purchases on September 30.
"US tariffs and an early end to EV subsidies will put a burden on automakers, potentially leading to vehicle price increases and a slowdown in EV growth in North America," CFO Lee Chang-sil said during a conference call.
Read more here.
US business activity rises; tariffs fuel inflation concerns
US business activity rose in July, but companies increased the prices for goods and services, supporting the view from economists that inflation will accelerate in the second half of 2025 and it will mainly be due to tariffs on imports.
Reuters reports:
Read more here.
It sounds like Trump now has a new minimum tariff rate: 15%
President Trump set a new rhetorical floor for tariffs on Wednesday night in comments in a shift that raises the president's baseline rate from 10%.
Yahoo Finance's Ben Werschkul writes:
Read more here.
Keurig Dr. Pepper brewer sales volume drops 22%, CEO says tariff impacts 'will become prominent'
Keurig Dr. Pepper CEO Tim Cofer said that tariffs are putting additional pressure on the company in an earnings call Thursday, especially when it comes to its coffee business, which KDP expects to be "subdued" for the remainder of the year.
"Commodity inflation will build as we roll into the back half and we roll into our higher cost hedges on green coffee," Cofer said. "The tariff impacts will become prominent. And we all know that tariff situation is a bit fluid."
Keurig is one of the biggest coffee importers in the US, along with Starbucks (SBUX) and Nestle (NSRGY). The US sources most of its coffee from Brazil, which is set to face 50% tariffs on its products on Aug. 1, and Colombia, which faces a tariff rate of 10%.
In Keurig's coffee business, appliance volume decreased 22.6% during the quarter, reflecting impacts of retailer inventory management, and K-Cup pod volume decreased 3.7%, reflecting category elasticity in response to price increases, the company reported.
"Our retail partners will likely continue to manage their inventory levels tightly, in particular on brewers," Cofer commented. "And then finally, you know we did a round of pricing at the beginning of the year. We've announced another round of pricing that will take effect next month, and we'll need to closely monitor how that elasticity evolves."
Read more about Keurig earnings here.
The EU's Trump insurance
As my colleague detailed below, EU member states voted to impose tariffs on over $100 billion of US goods from Aug. 7.
The Financial Times reported that this move that allows the bloc to impose the levies quickly at any point in the future should its trade relationship with the US take a turn for the worse.
From the report:
Read more here (subscription required).
Europe approves $100B-plus tariff backup plan
A report in the Wall Street Journal on Thursday said that the European Union has now approved its retaliatory tariff package on US goods that could start in August if no trade agreement is reached.
The EU announced on Wednesday that it will hit the US with 30% tariffs on over $100 billion worth of goods in the event that no deal is made and if President Trump decides to follow through with his threat to impose that rate on most of the bloc's exports after Aug. 1.
The US exports, which would include goods such as Boeing (BA) aircraft, US-made cars and bourbon whiskey would all face heavy tariffs that match Trump's 30% threat.
The approval of the package comes despite the growing optimism that the US and EU will reach a deal that would put baseline tariffs on the bloc at 15%, matching the level the US applied to Japan.
The EU is keen to reach a deal with the US but as a cautionary measure has approved 30% tariffs if a deal is not made.
Trump tariffs wreaking havoc in Brazil's citrus belt
Reuters reports:
Read more here.
South Korea weighs US investment pledge to trim auto tariff
Trade discussions between the US and South Korea have led both sides to investigate the idea of creating a fund to invest in American projects. A report said this possible deal would be similar to the agreement Japan struck Tuesday with President Trump.
The details of the plan are still not clear, but the US has been seeking pledges totaling hundreds of billions of dollars.
However, further talks on a deal between the two sides may have to wait as a trade meeting between the US and South Korea has been postponed after Treasury Secretary Scott Bessent became unavailable due to a scheduling conflict, South Korea's Finance Ministry said Thursday.
Bloomberg reports:
Read more here.
Hyundai Motor warns of bigger hit from US tariffs after Q2 profit fall
Hyundai Motor (005380.KS, HYMTF) reported a drop in second-quarter operating profit on Thursday. The company cited US tariffs on vehicles and parts as the reason for the decline and that President Trump's trade war had weighed on its bottom line, the automaker also warned of a bigger impact in the current quarter.
The group's South Korean shares fell 2% Thursday.
Reuters reports:
Read more here.
Trump lifts tariff baseline rate, warns countries face 15-50% range
President Trump appears to have raised the minimum US tariff rate to 15%, up from 10%, as he prepares to set new reciprocal tariffs before his Aug. 1 deadline.
'We'll have a straight, simple tariff of anywhere between 15% and 50%,' Trump said Wednesday at an AI summit in Washington. 'A couple of — we have 50 because we haven't been getting along with those countries too well.'
Trump's latest statement that tariffs would begin at 15% is a new twist in his efforts to impose duties on almost every US trading partner.
The US and Japan reached a trade agreement this week of 15%, which could be one reason why the US president has decided to increase the baseline tariff rate.
The European Union said on Wednesday that it is getting ready to impose 30% tariffs on over $100 billion worth of US goods if no deal is made and if Trump decides to follow through with his threat to impose that rate on most of the bloc's exports after the Aug. 1 deadline. Reports from The Financial Times on Wednesday have said that the EU and the US are now closing in on a 15% trade deal on European imports.
Bloomberg News reports:
Read more here.
EU, US reportedly close in on trade deal
The Financial Times reports:
And more from Bloomberg:
Read more here.
Trump says he will trade 'Tariff points' for open markets to the US
President Trump pushed one of his priorities in negotiating trade deals on Wednesday, and it wasn't exactly trade deficits. He suggested the US would reduce tariffs in exchange for countries opening their markets, i.e., putting zero tariffs on American-made products.
"I will always give up Tariff points if I can get major countries to OPEN THEIR MARKETS TO THE USA," Trump posted on Truth Social. "Another great power of Tariffs. Without them, it would be impossible to get countries to OPEN UP!!! ALWAYS, ZERO TARIFFS TO AMERICA!!!"
Trump's social media post came after the European Union announced it was preparing countermeasures against US tariffs, including a 30% tariff on over $100 billion worth of goods. Meanwhile, Indonesia agreed to drop its tariffs on US goods to 0% for 99% of trade.
Detroit Three automakers raise concerns about Japan trade deal
A group representing General Motors (GM) Ford (F) and Chrysler-parent Stellantis (STLA) raised concerns on Tuesday about the US-Japan trade deal, which could cut tariffs on auto imports from Japan to 15% while leaving tariffs on imports from Canada and Mexico at 25%.
Reuters reports:
Read more here.
SAP falls as trade war concerns temper strong cloud growth
Bloomberg News:
Read more here.
EU readies over $100B no-deal plan to match US 30% tariff
The European Union announced on Wednesday it plans to hit the US with 30% tariffs on over $100 billion worth of goods in the event that no deal is made and if President Trump decides to follow through with his threat to impose that rate on most of the bloc's exports after Aug. 1.
A European Commission spokesman said that the first part of countermeasures would combine an already approved list of tariffs on $24 billion of US goods and a previously proposed list on an additional on $83 billion of American products into one package.
The US exports, which would include goods such as Boeing (BA) aircraft, US-made cars and bourbon whiskey would all face heavy tariffs that match Trump's 30% threat.
Bloomberg News reports:
Read more here.
European auto shares rally after US-Japan trade deal
Bloomberg News reports:
Read more here.
Japan said Friday that profits from the $550 billion investment deal with the US will be shared based on how much each side contributes. A government official suggested the US will also put in significant funds, but details of the scheme remain unclear.
The White House had announced earlier in the week that the US would retain 90% of the profits from the $550 billion US-bound investment and loans that Japan would exchange in return for reduced tariffs on auto and other exports to the US.
This would mean that returns would be split 10% for Japan and 90% for the US, according to the White House official, and that it would be "based on the respective levels of contribution and risk borne by each side."
Bloomberg News reports:
Read more here.
Trump: US will sell 'so much' beef to Australia
President Trump said on Thursday that the US will sell "so much" beef to Australia, following Canberra relaxing import restrictions.
Trump added that other countries who had refused US beef products were on notice.
Reuters reports:
Read more here.
President Trump said on Thursday that the US will sell "so much" beef to Australia, following Canberra relaxing import restrictions.
Trump added that other countries who had refused US beef products were on notice.
Reuters reports:
Read more here.
World's No. 3 automaker Kia takes $570M tariff hit in Q2
Reuters reports:
Read more here.
Reuters reports:
Read more here.
Puma shares dive after warning of full-year loss, US tariff impact
Puma (PUM.DE) shares fell 17% on Friday after the sportswear brand said that it now expects an annual loss due to a decline in sales and US tariffs denting profit.
Reuters reports:
Read more here.
Puma (PUM.DE) shares fell 17% on Friday after the sportswear brand said that it now expects an annual loss due to a decline in sales and US tariffs denting profit.
Reuters reports:
Read more here.
LG Energy Solution warns of slowing EV battery demand due to U.S. tariffs, policy headwinds
Reuters reports:
South Korean battery firm LG Energy (373220.KS) Solution warned on Friday of a further slowdown in demand by early next year due to U.S. tariffs and policy uncertainties after it posted a quarterly profit jump.
Its major customers Tesla (TSLA) and General Motors (GM) warned of fallout from U.S. tariffs and legislation that will end federal subsidies for EV purchases on September 30.
"US tariffs and an early end to EV subsidies will put a burden on automakers, potentially leading to vehicle price increases and a slowdown in EV growth in North America," CFO Lee Chang-sil said during a conference call.
Read more here.
Reuters reports:
South Korean battery firm LG Energy (373220.KS) Solution warned on Friday of a further slowdown in demand by early next year due to U.S. tariffs and policy uncertainties after it posted a quarterly profit jump.
Its major customers Tesla (TSLA) and General Motors (GM) warned of fallout from U.S. tariffs and legislation that will end federal subsidies for EV purchases on September 30.
"US tariffs and an early end to EV subsidies will put a burden on automakers, potentially leading to vehicle price increases and a slowdown in EV growth in North America," CFO Lee Chang-sil said during a conference call.
Read more here.
US business activity rises; tariffs fuel inflation concerns
US business activity rose in July, but companies increased the prices for goods and services, supporting the view from economists that inflation will accelerate in the second half of 2025 and it will mainly be due to tariffs on imports.
Reuters reports:
Read more here.
US business activity rose in July, but companies increased the prices for goods and services, supporting the view from economists that inflation will accelerate in the second half of 2025 and it will mainly be due to tariffs on imports.
Reuters reports:
Read more here.
It sounds like Trump now has a new minimum tariff rate: 15%
President Trump set a new rhetorical floor for tariffs on Wednesday night in comments in a shift that raises the president's baseline rate from 10%.
Yahoo Finance's Ben Werschkul writes:
Read more here.
President Trump set a new rhetorical floor for tariffs on Wednesday night in comments in a shift that raises the president's baseline rate from 10%.
Yahoo Finance's Ben Werschkul writes:
Read more here.
Keurig Dr. Pepper brewer sales volume drops 22%, CEO says tariff impacts 'will become prominent'
Keurig Dr. Pepper CEO Tim Cofer said that tariffs are putting additional pressure on the company in an earnings call Thursday, especially when it comes to its coffee business, which KDP expects to be "subdued" for the remainder of the year.
"Commodity inflation will build as we roll into the back half and we roll into our higher cost hedges on green coffee," Cofer said. "The tariff impacts will become prominent. And we all know that tariff situation is a bit fluid."
Keurig is one of the biggest coffee importers in the US, along with Starbucks (SBUX) and Nestle (NSRGY). The US sources most of its coffee from Brazil, which is set to face 50% tariffs on its products on Aug. 1, and Colombia, which faces a tariff rate of 10%.
In Keurig's coffee business, appliance volume decreased 22.6% during the quarter, reflecting impacts of retailer inventory management, and K-Cup pod volume decreased 3.7%, reflecting category elasticity in response to price increases, the company reported.
"Our retail partners will likely continue to manage their inventory levels tightly, in particular on brewers," Cofer commented. "And then finally, you know we did a round of pricing at the beginning of the year. We've announced another round of pricing that will take effect next month, and we'll need to closely monitor how that elasticity evolves."
Read more about Keurig earnings here.
Keurig Dr. Pepper CEO Tim Cofer said that tariffs are putting additional pressure on the company in an earnings call Thursday, especially when it comes to its coffee business, which KDP expects to be "subdued" for the remainder of the year.
"Commodity inflation will build as we roll into the back half and we roll into our higher cost hedges on green coffee," Cofer said. "The tariff impacts will become prominent. And we all know that tariff situation is a bit fluid."
Keurig is one of the biggest coffee importers in the US, along with Starbucks (SBUX) and Nestle (NSRGY). The US sources most of its coffee from Brazil, which is set to face 50% tariffs on its products on Aug. 1, and Colombia, which faces a tariff rate of 10%.
In Keurig's coffee business, appliance volume decreased 22.6% during the quarter, reflecting impacts of retailer inventory management, and K-Cup pod volume decreased 3.7%, reflecting category elasticity in response to price increases, the company reported.
"Our retail partners will likely continue to manage their inventory levels tightly, in particular on brewers," Cofer commented. "And then finally, you know we did a round of pricing at the beginning of the year. We've announced another round of pricing that will take effect next month, and we'll need to closely monitor how that elasticity evolves."
Read more about Keurig earnings here.
The EU's Trump insurance
As my colleague detailed below, EU member states voted to impose tariffs on over $100 billion of US goods from Aug. 7.
The Financial Times reported that this move that allows the bloc to impose the levies quickly at any point in the future should its trade relationship with the US take a turn for the worse.
From the report:
Read more here (subscription required).
As my colleague detailed below, EU member states voted to impose tariffs on over $100 billion of US goods from Aug. 7.
The Financial Times reported that this move that allows the bloc to impose the levies quickly at any point in the future should its trade relationship with the US take a turn for the worse.
From the report:
Read more here (subscription required).
Europe approves $100B-plus tariff backup plan
A report in the Wall Street Journal on Thursday said that the European Union has now approved its retaliatory tariff package on US goods that could start in August if no trade agreement is reached.
The EU announced on Wednesday that it will hit the US with 30% tariffs on over $100 billion worth of goods in the event that no deal is made and if President Trump decides to follow through with his threat to impose that rate on most of the bloc's exports after Aug. 1.
The US exports, which would include goods such as Boeing (BA) aircraft, US-made cars and bourbon whiskey would all face heavy tariffs that match Trump's 30% threat.
The approval of the package comes despite the growing optimism that the US and EU will reach a deal that would put baseline tariffs on the bloc at 15%, matching the level the US applied to Japan.
The EU is keen to reach a deal with the US but as a cautionary measure has approved 30% tariffs if a deal is not made.
A report in the Wall Street Journal on Thursday said that the European Union has now approved its retaliatory tariff package on US goods that could start in August if no trade agreement is reached.
The EU announced on Wednesday that it will hit the US with 30% tariffs on over $100 billion worth of goods in the event that no deal is made and if President Trump decides to follow through with his threat to impose that rate on most of the bloc's exports after Aug. 1.
The US exports, which would include goods such as Boeing (BA) aircraft, US-made cars and bourbon whiskey would all face heavy tariffs that match Trump's 30% threat.
The approval of the package comes despite the growing optimism that the US and EU will reach a deal that would put baseline tariffs on the bloc at 15%, matching the level the US applied to Japan.
The EU is keen to reach a deal with the US but as a cautionary measure has approved 30% tariffs if a deal is not made.
Trump tariffs wreaking havoc in Brazil's citrus belt
Reuters reports:
Read more here.
Reuters reports:
Read more here.
South Korea weighs US investment pledge to trim auto tariff
Trade discussions between the US and South Korea have led both sides to investigate the idea of creating a fund to invest in American projects. A report said this possible deal would be similar to the agreement Japan struck Tuesday with President Trump.
The details of the plan are still not clear, but the US has been seeking pledges totaling hundreds of billions of dollars.
However, further talks on a deal between the two sides may have to wait as a trade meeting between the US and South Korea has been postponed after Treasury Secretary Scott Bessent became unavailable due to a scheduling conflict, South Korea's Finance Ministry said Thursday.
Bloomberg reports:
Read more here.
Trade discussions between the US and South Korea have led both sides to investigate the idea of creating a fund to invest in American projects. A report said this possible deal would be similar to the agreement Japan struck Tuesday with President Trump.
The details of the plan are still not clear, but the US has been seeking pledges totaling hundreds of billions of dollars.
However, further talks on a deal between the two sides may have to wait as a trade meeting between the US and South Korea has been postponed after Treasury Secretary Scott Bessent became unavailable due to a scheduling conflict, South Korea's Finance Ministry said Thursday.
Bloomberg reports:
Read more here.
Hyundai Motor warns of bigger hit from US tariffs after Q2 profit fall
Hyundai Motor (005380.KS, HYMTF) reported a drop in second-quarter operating profit on Thursday. The company cited US tariffs on vehicles and parts as the reason for the decline and that President Trump's trade war had weighed on its bottom line, the automaker also warned of a bigger impact in the current quarter.
The group's South Korean shares fell 2% Thursday.
Reuters reports:
Read more here.
Hyundai Motor (005380.KS, HYMTF) reported a drop in second-quarter operating profit on Thursday. The company cited US tariffs on vehicles and parts as the reason for the decline and that President Trump's trade war had weighed on its bottom line, the automaker also warned of a bigger impact in the current quarter.
The group's South Korean shares fell 2% Thursday.
Reuters reports:
Read more here.
Trump lifts tariff baseline rate, warns countries face 15-50% range
President Trump appears to have raised the minimum US tariff rate to 15%, up from 10%, as he prepares to set new reciprocal tariffs before his Aug. 1 deadline.
'We'll have a straight, simple tariff of anywhere between 15% and 50%,' Trump said Wednesday at an AI summit in Washington. 'A couple of — we have 50 because we haven't been getting along with those countries too well.'
Trump's latest statement that tariffs would begin at 15% is a new twist in his efforts to impose duties on almost every US trading partner.
The US and Japan reached a trade agreement this week of 15%, which could be one reason why the US president has decided to increase the baseline tariff rate.
The European Union said on Wednesday that it is getting ready to impose 30% tariffs on over $100 billion worth of US goods if no deal is made and if Trump decides to follow through with his threat to impose that rate on most of the bloc's exports after the Aug. 1 deadline. Reports from The Financial Times on Wednesday have said that the EU and the US are now closing in on a 15% trade deal on European imports.
Bloomberg News reports:
Read more here.
President Trump appears to have raised the minimum US tariff rate to 15%, up from 10%, as he prepares to set new reciprocal tariffs before his Aug. 1 deadline.
'We'll have a straight, simple tariff of anywhere between 15% and 50%,' Trump said Wednesday at an AI summit in Washington. 'A couple of — we have 50 because we haven't been getting along with those countries too well.'
Trump's latest statement that tariffs would begin at 15% is a new twist in his efforts to impose duties on almost every US trading partner.
The US and Japan reached a trade agreement this week of 15%, which could be one reason why the US president has decided to increase the baseline tariff rate.
The European Union said on Wednesday that it is getting ready to impose 30% tariffs on over $100 billion worth of US goods if no deal is made and if Trump decides to follow through with his threat to impose that rate on most of the bloc's exports after the Aug. 1 deadline. Reports from The Financial Times on Wednesday have said that the EU and the US are now closing in on a 15% trade deal on European imports.
Bloomberg News reports:
Read more here.
EU, US reportedly close in on trade deal
The Financial Times reports:
And more from Bloomberg:
Read more here.
The Financial Times reports:
And more from Bloomberg:
Read more here.
Trump says he will trade 'Tariff points' for open markets to the US
President Trump pushed one of his priorities in negotiating trade deals on Wednesday, and it wasn't exactly trade deficits. He suggested the US would reduce tariffs in exchange for countries opening their markets, i.e., putting zero tariffs on American-made products.
"I will always give up Tariff points if I can get major countries to OPEN THEIR MARKETS TO THE USA," Trump posted on Truth Social. "Another great power of Tariffs. Without them, it would be impossible to get countries to OPEN UP!!! ALWAYS, ZERO TARIFFS TO AMERICA!!!"
Trump's social media post came after the European Union announced it was preparing countermeasures against US tariffs, including a 30% tariff on over $100 billion worth of goods. Meanwhile, Indonesia agreed to drop its tariffs on US goods to 0% for 99% of trade.
President Trump pushed one of his priorities in negotiating trade deals on Wednesday, and it wasn't exactly trade deficits. He suggested the US would reduce tariffs in exchange for countries opening their markets, i.e., putting zero tariffs on American-made products.
"I will always give up Tariff points if I can get major countries to OPEN THEIR MARKETS TO THE USA," Trump posted on Truth Social. "Another great power of Tariffs. Without them, it would be impossible to get countries to OPEN UP!!! ALWAYS, ZERO TARIFFS TO AMERICA!!!"
Trump's social media post came after the European Union announced it was preparing countermeasures against US tariffs, including a 30% tariff on over $100 billion worth of goods. Meanwhile, Indonesia agreed to drop its tariffs on US goods to 0% for 99% of trade.
Detroit Three automakers raise concerns about Japan trade deal
A group representing General Motors (GM) Ford (F) and Chrysler-parent Stellantis (STLA) raised concerns on Tuesday about the US-Japan trade deal, which could cut tariffs on auto imports from Japan to 15% while leaving tariffs on imports from Canada and Mexico at 25%.
Reuters reports:
Read more here.
A group representing General Motors (GM) Ford (F) and Chrysler-parent Stellantis (STLA) raised concerns on Tuesday about the US-Japan trade deal, which could cut tariffs on auto imports from Japan to 15% while leaving tariffs on imports from Canada and Mexico at 25%.
Reuters reports:
Read more here.
SAP falls as trade war concerns temper strong cloud growth
Bloomberg News:
Read more here.
Bloomberg News:
Read more here.
EU readies over $100B no-deal plan to match US 30% tariff
The European Union announced on Wednesday it plans to hit the US with 30% tariffs on over $100 billion worth of goods in the event that no deal is made and if President Trump decides to follow through with his threat to impose that rate on most of the bloc's exports after Aug. 1.
A European Commission spokesman said that the first part of countermeasures would combine an already approved list of tariffs on $24 billion of US goods and a previously proposed list on an additional on $83 billion of American products into one package.
The US exports, which would include goods such as Boeing (BA) aircraft, US-made cars and bourbon whiskey would all face heavy tariffs that match Trump's 30% threat.
Bloomberg News reports:
Read more here.
The European Union announced on Wednesday it plans to hit the US with 30% tariffs on over $100 billion worth of goods in the event that no deal is made and if President Trump decides to follow through with his threat to impose that rate on most of the bloc's exports after Aug. 1.
A European Commission spokesman said that the first part of countermeasures would combine an already approved list of tariffs on $24 billion of US goods and a previously proposed list on an additional on $83 billion of American products into one package.
The US exports, which would include goods such as Boeing (BA) aircraft, US-made cars and bourbon whiskey would all face heavy tariffs that match Trump's 30% threat.
Bloomberg News reports:
Read more here.
European auto shares rally after US-Japan trade deal
Bloomberg News reports:
Read more here.
Bloomberg News reports:
Read more here.
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KKR Forms A$500 Million Strategic Partnership with CleanPeak Energy to Launch New Distributed Energy Platform
SYDNEY--(BUSINESS WIRE)--Global investment firm KKR today announced the signing of definitive agreements under which funds managed by KKR will commit A$500 million to strategically partner with CleanPeak Energy ('CleanPeak') to rapidly grow its distributed energy platform. KKR's investment will support CleanPeak in growing and developing a pipeline of distributed solar, battery storage and micro‑grid solutions for Australia's commercial and industrial ('C&I') sector. Co-founded by Philip Graham and Jon Hare in 2017, CleanPeak is a leading provider of fully financed, integrated solar‑and‑storage systems for blue‑chip corporates across Australia. The company operates over 50 distributed generation sites across Australia including over 140MW of Solar Assets and 35MWH of Battery Energy Storage System ('BESS') projects, and is currently delivering over $200m of construction projects in the sector. 'Australia's C&I energy market is at an inflection point as corporates seek bankable pathways to better energy efficiency, reliability and affordability,' said Neil Arora, Partner and Head of KKR's Climate Transition strategy for Asia. 'By combining CleanPeak's proven operating platform with KKR's global network, operational expertise, and deep experience across our energy and infrastructure teams, we are well positioned to unlock significant opportunities for corporate customers looking to decarbonise and reduce their energy bills.' CleanPeak Chief Executive Philip Graham welcomed the strategic partnership, 'KKR is a perfect strategic partner for us as we seek to rapidly expand renewable energy solutions for our customers. They bring deep energy transition expertise, financial strength and a partnership mindset that will allow CleanPeak to continue to offer net zero solutions at the same time as accelerating our growth plans through bolt‑on acquisitions. Together, we will deliver reliable, lower‑carbon energy for corporate Australia.' 'CleanPeak's distributed energy approach reduces network costs which make up a significant portion of the all-in cost of retail electricity and results in more competitive power prices for our customers,' said Jon Hare, CleanPeak's Chief Operating Officer. KKR is making this investment from its Global Climate Transition strategy. This investment marks the strategy's first in Asia-Pacific and its sixth transaction globally, underscoring KKR's conviction in the energy‑transition opportunity set. Since 2010, KKR has committed more than US$34 billion in climate and environmental sustainability investments. Past investments have included Zenobē, a UK-based transport electrification and battery storage solutions specialist; EGC, an energy service provider in Germany; Dawsongroup, an independent asset leasing business which provides a diverse range of business-critical solutions; Avantus, a solar and solar-plus-storage developer in the US; and IGNIS P2X, an industrial decarbonisation platform. The transaction is expected to close in H2 2025, subject to customary regulatory approvals. About KKR KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at About CleanPeak CleanPeak is a specialist renewable energy company in Australia empowering large industrial & commercial businesses to reduce their carbon emissions & transition to net zero. CleanPeak specialises in designing, building, owning and operating renewable energy assets, and associated infrastructure. By integrating state-of-the-art solar, battery and thermal energy assets, CleanPeak delivers energy solutions that are affordable, reliable and sustainable. CleanPeak's operating portfolio consists of over 40 MW of rooftop solar, 100 MW of utility solar projects and 35 MWh of battery projects, as well as microgrids providing energy and thermal services for more than 1,000,000 square meters of floorspace. CleanPeak has a further 100 MW of solar and 300 MWh of battery projects in the pipeline. CleanPeak's internal EPC capability drives superior design and delivery outcomes, tailored to the needs of individual clients. Our asset management capabilities are underpinned by proprietary IT systems that optimise performance, efficiency, and resilience. With its own retail electricity license, CleanPeak is uniquely positioned to supply power directly to end-users, offering flexible, customer-first retail solutions that minimise cost and carbon footprint. Whether it is powering large commercial precincts or integrating behind-the-meter solutions, CleanPeak connects the dots from project design through to renewable generation and distribution. For additional information about CleanPeak, please visit