Trump announces trade deal with Japan, including 15% tariff
In a post on Truth Social, Trump added that Japan will open to trade, including cars, trucks, rice and certain agricultural products.
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The Independent
22 minutes ago
- The Independent
Trump has ‘turned his back on the communities that voted for him,' 2028 hopeful Gov. Josh Shapiro says
Pennsylvania Gov. Josh Shapiro slammed President Donald Trump for betraying his supporters in a fiery appearance on The Late Show with Stephen Colbert on Thursday. Shapiro, a Democrat who represents the pivotal swing state narrowly won by Trump in last November's election, accused the Republican of only showing up to make promises to blue-collar communities when he needs their vote and neglecting their concerns since returning to power. Asked about his own appeal in a deep purple state, the governor answered: 'I think what they saw in me is someone who gives a damn about them, who treats them with respect – where they go to college, they go to the military, they go to a union apprenticeship program. They saw in me someone who can actually cut through it and solve their problems. 'And the difference between me and the president is – he shows up in those areas. He talks a good game. And then when he gets to govern, he does the exact opposite.' Pivoting to Trump's 'One Big, Beautiful Bill,' which was passed by Congress earlier this month despite widespread concerns about its impact on the national debt and welfare recipients, Shapiro invoked the Republican's promises on the campaign trail. 'I was showing up in rural areas where Donald Trump was showing up, and he was pledging to not cut people off of Medicaid. And what's the first big thing he does? He goes and he cuts 310,000 Pennsylvanians off of Medicaid with this bill they just passed, including 154,000 in communities that voted for him.' The governor continued: 'When I ran for office and he ran for office, we both ran with the support of local police. What have I done? I hired more police. We've gotten them more training. We brought crime down 38 percent in Pennsylvania. 'What did Donald Trump do? Literally, his first official action was to pardon people who assaulted cops on January 6 and sent some of those cops to their deaths. 'So what Donald Trump has done with the power is turned his back on those communities that voted for him. He's abandoned them, and he has made their lives worse. My focus is on making their lives better.' His comments were met with a surge of applause from the studio audience. Shapiro was considered by Democratic nominee Kamala Harris as a potential running mate when she succeeded Joe Biden on their party's ticket last summer, although she ultimately opted for Minnesota Gov. Tim Walz. Colbert, whose show was recently cancelled, also trashed the president in his opening monologue, mocking him for denying ever having been briefed by Attorney General Pam Bondi about his name being mentioned in the Jeffrey Epstein files, only for The Wall Street Journal to allege that he had been told exactly that in May. The host also derided the president for losing the support of 'QAnon Shaman' Jacob Chansley, the poster boy for the Capitol riot, alluded to by Shapiro. Trump pardoned Chansley and hundreds of other rioters as soon as he returned to office in January, but the self-styled shaman appears to have become infuriated by the administration's more recent actions, writing on social media: 'F*** this stupid piece of s***... What a fraud.'
Reuters
23 minutes ago
- Reuters
European shares slip as investors gauge mixed earnings, US-EU trade progress
July 25 (Reuters) - European shares retreated on Friday, giving back gains from the previous session, as investors assessed mixed corporate earnings while awaiting updates on EU-U.S. trade discussions ahead of U.S. President Donald Trump's tariff deadline next week. The pan-European STOXX 600 index (.STOXX), opens new tab was down 0.4% at 549.36 points, as of 0832 GMT. Still, the index remained on course for modest weekly gains. UK's FTSE 100 (.FTSE), opens new tab dropped 0.4%, pulling back from its all-time peak reached on Thursday. Most regional bourses were also in the red. Investors navigated a busy week of trade discussions and cheered agreements with Japan, Indonesia and the Philippines, while hopes for a U.S.-EU deal remain as negotiations with the bloc continued. "The elephant in the room is earnings. You have the sentiment boosted by the news flow on the tariff side," said Roland Kaloyan, head of European Equity Strategy at Societe Generale. "But we are in the middle of the earnings season, thus, if you have some disappointment coming on that front ... that is not super supportive for the market." European financials (.SXFP), opens new tab led the sector decline with a 1.3% drop, while stocks linked to basic resources (.SXPP), opens new tab fell 0.6%, pressured by Fresnillo's (FRES.L), opens new tab 2.3% drop. Among individual stocks, Puma's ( opens new tab shares slumped 15.1%, falling the most in the STOXX 600 index, after the German sportswear brand cut its full-year outlook and reported weaker-than-expected quarterly results. London-listed sports retailer JD Sports (JD.L), opens new tab fell 1.5%. Valeo ( opens new tab slumped nearly 9% after the French car parts supplier cut its full-year sales outlook. Traton ( opens new tab, a truck unit of German automaker Volkswagen ( opens new tab, came under pressure with a 4.4% decline after it slashed its full-year outlook. On the flip side, Carrefour ( opens new tab gained 6% after Europe's biggest food retailer reported its half-year results. Shares of Volkswagen, Europe's biggest carmaker, were up 2.7% after the CEO said cost cuts must be accelerated in a response to tariffs. Earlier in the session, shares lost 2.4% on the company's revised outlook. NatWest (NWG.L), opens new tab rose nearly 2% after the British bank posted first-half profit above estimates, and announced it would do a 750-million-pound ($1.01 billion) share buyback. On the data front, German business morale improved less than expected in July. Also this week, the European Central Bank held rates steady and gave a cautiously positive view of the economy, dampening expectations for further easing. Attention next week will turn to key events, including policy decisions from the Federal Reserve and other central banks, earnings from several "Magnificent Seven" companies and Trump's August 1 tariff deadline.
The Independent
an hour ago
- The Independent
Why is Trump visiting the UK?
Donald Trump will be visiting the UK for the first of two scheduled trips this year as he plans to land in Scotland on Friday for a five-day private trip. This will be followed by an official state visit only a few months later, with King Charles III set to welcome the US president from 17 to 19 September. Mr Trump is expected to arrive at Prestwick Airport in the evening, before heading over to his Turnberry golf course in South Ayrshire. He will leave the country at some point on Tuesday. Later in the year, the three-day state visit will see the US president meet the King, whom he first met during his first presidential term. It's also likely he will appear alongside Queen Camilla and prime minister Sir Keir Starmer. The US president was publicly invited on a state visit by Sir Keir during his audience in the White House in February. Hand-delivering an invitation from King Charles III, the prime minister said the visit would be 'unprecedented' and 'historic'. 'I think the last state visit was a tremendous success,' he said. 'His Majesty the King wants to make this even better.' Responding, Mr Trump said: 'That's a great, great honour ... that's really something,' adding: 'The answer is yes, and we look forward to being there and honouring the King.' What is Donald Trump planning to do in Scotland? After visiting his golf course in South Ayrshire, Mr Trump is expected to head over to his Menie golf course in Aberdeenshire. He then plans to open up a new course dedicated to his Scottish mother, who grew up on the Isle of Lewis. His presence will result in a significant operation from Police Scotland and thousands of officers, who are expected to deal with mass protests around his golf courses and major Scottish cities. Mr Trump will be greeted by Scottish secretary Ian Murray when he lands, with the minister pledging to give the American leader a 'warm welcome'. He will meet with prime minister Sir Keir Starmer during his stay, when the pair will discuss the UK -US trade deal. The US president will also meet with first minister John Swinney, who said ahead of the visit: 'Scotland shares a strong friendship with the United States that goes back centuries. 'That partnership remains steadfast through economic, cultural and ancestral links – including of course, with the president himself.' What has been the criticism of Trump's visit? Both Mr Trump's personal visit to Scotland, and later state visit, have been criticised by campaigners. Ahead of Friday's visit, a spokesperson for Stop Trump Scotland said: 'The people of Scotland don't want to roll out a welcome mat for Donald Trump, whose government is accelerating the spread of climate breakdown and fascism around the world.' Several MPs and campaigners have also spoken out against the state visit invitation, arguing that Mr Trump's divisive political views mean he should not receive the honour. In April, Labour MP Kate Osbourne wrote to Commons speaker Lindsay Hoyle asking him to prevent Mr Trump from addressing parliament. The Newcastle MP also tabled a parliamentary motion, signed by 19 other MPs, which states it would be 'inappropriate for President Trump to address parliament' due to his record on "misogyny, racism and xenophobia'. However, White House sources have said the president had not planned to address parliament. The timing of his visit also coincides with when parliament is in recess, likely removing the possibility. When was Trump's last official visit to the UK? Donald Trump 's first official state visit to the UK took place from 3 to 5 June 2019, around two years into his first presidential term. Alongside first lady Melania Trump, the US president met Queen Elizabeth II after arriving in the gardens of Buckingham Palace via helicopter. This was followed by a visit to Westminster Abbey, and later a state banquet with then-prime minister Theresa May in attendance. The event took place a year later than initially planned, after a planned state visit was downgraded to a one-day 'working visit' in July 2018. A major protest was held in London before his July 2018 visit, with around 250,000 demonstrators reported to be in attendance. Organised by the 'Stop Trump Coalition', the event saw a giant, inflatable Mr Trump dressed as a baby fly over London. A similar protest the following year against the delayed state visit drew thousands of attendees but did not reach the numbers of the 2018 protest. Are there protests against the visits? The Scottish wing of the Stop Trump Coalition has planned a 'festival of resistance' against the US president's private visit to the country on Saturday, the day after his arrival. These will take place in Edinburgh, Aberdeen and Dumfries. The campaign group has also confirmed it is organising a national demonstration against Mr Trump's state visit on 17 September, with attendees encouraged to gather at London's Embankment. Further protests are planned, the group has said, including one near Windsor Castle. Stop Trump Coalition spokesperson Seema Syeda said: 'This will be a massive protest against Trump's state visit ... Trump and his authoritarian politics are not welcome here. 'We know that Trump is deeply unpopular with the public. We mobilised hundreds of thousands of people against Trump during his first term, and he has only got worse since then.'
