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France 24
an hour ago
- France 24
US tariffs to kick in August 1 for countries without deals, Treasury chief says
US tariffs will kick in on August 1 if trading partners from Taiwan to the European Union do not strike deals with Washington, Treasury Secretary Scott Bessent said Sunday. The rates will "boomerang back" to the sometimes very high levels that President Donald Trump had announced on April 2 -- before he suspended the levies to allow for trade talks and set a July 9 deadline for agreements, Bessent told CNN. Bessent confirmed comments by Trump to reporters aboard Air Force One on Friday in which he also cited a new deadline: "Well, I'll probably start them on August 1." The president told reporters Sunday he had signed about a dozen letters to inform countries of rate hikes, to be sent out on Monday. "I think we'll have most countries done by July 9, either a letter or a deal," Trump told reporters Sunday, adding that some deals have already been made. Standing at his side, US Commerce Secretary Howard Lutnick confirmed tariffs would kick in on August 1, "but the President is setting the rates and the deals right now." The tariffs were part of a broader announcement in April where Trump imposed a 10 percent duty on goods from almost all trading partners, with a plan to step up these rates for a select group within days. But he swiftly paused the hikes until July 9, allowing for trade talks to take place. Countries have been pushing to strike deals that would help them avoid these elevated duties. So far, the Trump administration has unveiled deals with the United Kingdom and Vietnam, while Washington and Beijing agreed to temporarily lower staggeringly high levies on each other's products. Bessent said the administration was "close to several deals." "I would expect to see several big announcements over the next couple of days," he said. But he would not say which countries he was referring to, adding: "I don't want to let them off the hook." 'Maximum pressure' playbook Aboard Air Force One on Friday, Trump said sending notices would be much easier than "sitting down and working 15 different things... this is what you have to pay, if you want to do business (with) the United States." Bessent pushed back at CNN host Dana Bash's assertion the administration was using threats rather than negotiations, and denied that Trump was setting a new deadline with the August 1 date. "It's not a new deadline. We are saying, this is when it's happening. If you want to speed things up, have at it. If you want to go back to the old rate, that's your choice," he said. He said the playbook was to apply "maximum pressure" and cited the European Union as an example, saying they are "making very good progress" after a slow start. EU and US negotiators are holding talks over the weekend, and France's finance minister said Saturday he hoped they could strike a deal this weekend. Other countries were still expressing unease, however. Japan 's Prime Minister Shigeru Ishiba said Sunday he " won't easily compromise" in trade talks with Washington. And BRICS leaders of fast-growing economies meeting in Rio de Janeiro raised "serious concerns" that the "indiscriminate" import tariffs were illegal and risked hurting global trade. When probed about worries that steep levies could feed into broader US inflation, Bessent said there was a difference between "inflation and one-time price adjustments."
France 24
2 hours ago
- France 24
MLB Nationals fire manager Martinez, GM Rizzo after loss
Shortly after the Nats dropped a 6-4 decision at home to Boston, team owner Mark D. Lerner announced Rizzo, the president of baseball operations, would be replaced by assistant general manager Mike DeBartolo and that an interim manager would be named on Monday, an off day for the club. Lerner, in a statement released on social media, praised Martinez and Rizzo for their roles in directing the Nationals to the 2019 World Series title, but they have not enjoyed a winning season or playoff berth since. "While we are appreciative of their past successes, the on-field performance has not been where we or our fans expect it to be," Lerner said. "This is a pivotal time for our club and we believe a fresh approach and new energy is the best course of action for our team moving forward." The Nationals are 37-53, last in the National League East division, and went 7-19 in June. They are 1-4 this month and were swept at home by Boston by 11-2, 10-3 and 6-4 over the US Independence Day holiday weekend. Martinez, hired in October of 2017, was the longest-tenured manager in Nationals history. The 60-year-old American was 500-622 with the Nats after replacing Dusty Baker while Rizzo was in his 17th season as baseball operations boss for the club. The Nationals have traded such stars as Max Scherzer and Juan Soto to obtain younger talent in building for the future but have been unable to make the moves pay off with triumphs. Martinez has spent 39 seasons in baseball as a player, coach and manager. He spent 16 seasons as a player and was an assistant coach on the 2016 Chicago Cubs World Series championship squad before taking his first manager's post with the Nats.
France 24
4 hours ago
- France 24
Rockets confirm arrival of Durant in unprecedented NBA seven-team trade
The Rockets will also welcome back Clint Capela in a sign-and-trade deal with Atlanta, Houston said in a statement posted on the team website. Also involved in the blockbuster transfer were the Brooklyn Nets, Golden State Warriors, Minnesota Timberwolves and Los Angeles Lakers. Durant, in a Sunday post on X, sent a farewell message to fans in Phoenix while making it clear he is excited to be heading for Houston, his fifth career NBA club. "My time in Phoenix has come to an end," Durant posted. "All these stops along the journey have really impacted me in a positive way. Remember it's a world behind the scenes, and those who make things work in that space, work tirelessly to make our lives easier as players. "I truly believe this nba is a one big community. Much love to Arizona. Houston, Can't Wait!" Durant, a 15-time NBA All-Star forward, turns 37 in September. The 2014 NBA Most Valuable Player won NBA titles with Golden State in 2017 and 2018. "Kevin impacts the game on both ends of the court and is one of the most efficient scorers in the history of basketball," Rockets general manager Rafael Stone said in a statement. "We liked the growth our team showed last season and believe Kevin's skill set will integrate seamlessly." Capela, a 31-year-old Swiss center, played his first six NBA seasons in Houston and the past five for the Hawks. He averaged 8.9 points, 8.5 rebounds, 1.1 assists and 1.0 blocks a game and joins New Zealand's Steven Adams as a big-man backup to Turkey's Alperen Sengun. The Suns' haul after losing Durant included 18-year-old South Sudanese 7-foot-2 (2.18m) center Khaman Maluach, the 10th overall pick in June's NBA draft, plus Houston forward Dillon Brooks of Canada and guard Jalen Green, Atlanta wing Daeqwon Plowden, Minnesota forward Rasheer Fleming and Golden State guard Koby Brea of the Dominican Republic. The Hawks got cash and a 2031 draft pick swap from Houston while Brooklyn obtained two future second-round selections and sent the rights to incoming US rookie forward Adou Thiero to the Lakers. The Warriors obtained the rights to Australian forward Alex Toohey, the 52nd pick in last month's draft, and US guard Jahmai Mashack, the last pick in the draft. Minnesota landed two future draft picks from the Suns and 18-year-old Australian 7-foot-3 center Rocco Zikarsky, the 45th pick in the draft, from the Lakers. Durant had confirmed last month he was "looking forward" to joining the Rockets after reports he was headed to Houston surfaced on the day of game seven of the NBA Finals. However, the deal could not be finalized until the league's yearly moratorium on signing ended on Sunday. No. 2 pick in 2007 "Having played against Kevin and coached him before, I know he's the type of competitor who fits with what we've been building here in Houston," said Rockets coach Ime Udoka, who worked with Durant at the Brooklyn Nets and on the US Olympic squad. Durant joined Phoenix in February 2023 in a trade with Brooklyn that cost the Suns three players and four first-round draft picks. With Durant, the Suns won only one playoff series in three seasons before the swap with the Rockets, who missed the playoffs four years in a row before falling to Golden State in this year's first round. Durant began his NBA journey as the second selection in the 2007 draft by the Seattle SuperSonics, who moved to Oklahoma City in 2008. Durant, a four-time NBA scoring champion with the Thunder, sparked his team to the NBA Finals in 2012, when Oklahoma City lost to the LeBron James-led Miami Heat.
