logo
U.S. seeks limited trade deal with E.U. as Trump's deadline approaches

U.S. seeks limited trade deal with E.U. as Trump's deadline approaches

BRUSSELS — With only three days remaining before President Donald Trump's self-imposed July 9 deadline, U.S. and European negotiators continue to haggle over a skeletal trade deal that would defer a resolution of their toughest commercial disputes.
The prospective accord, which would spare European goods the 50 percent tariffs that Trump has threatened to impose, is one of a relative handful of deals the administration is set to finalize by Wednesday.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Griesson – de Beukelaer invests in biscuits production
Griesson – de Beukelaer invests in biscuits production

Yahoo

time19 minutes ago

  • Yahoo

Griesson – de Beukelaer invests in biscuits production

German biscuits manufacturer Griesson - de Beukelaer is investing around €100m ($117.5m) to boost production at its factory in the eastern town of Wurzen. In a statement, the family-owned company said it will build a new production hall as well as a logistics centre with an automated 'high-bay' warehouse at the Wurzener Dauerbackwaren plant. The group will also add a 'modern' social and administrative building at the site, while the investment also includes the adoption of 'state-of-the-art' technologies. Slated for completion by 2027, the expansion will increase production capacity for Griesson - de Beukelaer's fruit-filled chocolate biscuits, which are available in a range of flavours such as orange, cherry and strawberry. The company also operates two other production facilities in towns further west in Polch and Kahla. Its brands include Griesson, De Beukelaer, Prinzen Rolle, Leicht & Cross and Cereola. The company also supplies private-label products. The expansion at Wurzen is expected to create up to 100 jobs, including roles for electronics technicians, food technologists, engineers, and apprenticeships for those starting their careers. CEO Dany Schmidt said: "With the future strength of a high-performance family business, we are continuing the development at our Wurzener Dauerbackwaren plant. Dedication and passion for baking characterise our team and our work in a sustainable and crisis-proof industry." Griesson - de Beukelaer, which has its headquarters in Polch, generated turnover of €723m in 2024, up 5% year on year. Announcing the result in January, the company said the increase in turnover came from "necessary price increases and changes in the product mix". It was the first time Griesson - de Beukelaer had made a turnover of more than €700m. "In addition to the branded business, sales in the private label segment also developed positively," Schmidt said in a statement at the time. Around 55% of its sales are generated outside Germany. "Griesson – de Beukelaer invests in biscuits production" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio

Short-Dated Treasuries Outperform as US Tightens Screws on Trade
Short-Dated Treasuries Outperform as US Tightens Screws on Trade

Yahoo

time19 minutes ago

  • Yahoo

Short-Dated Treasuries Outperform as US Tightens Screws on Trade

(Bloomberg) -- Short-dated Treasuries outperformed at the start of a key week for global trade, with US President Donald Trump intensifying pressure on other countries to strike trade deals ahead of a Wednesday deadline. Trump's Gilded Design Style May Be Gaudy. But Don't Call it 'Rococo.' Foreign Buyers Swoop on Cape Town Homes, Pricing Out Locals Are Tourists Ruining Europe? How Locals Are Pushing Back Massachusetts to Follow NYC in Making Landlords Pay Broker Fees NYC Commutes Resume After Midtown Bus Terminal Crash Chaos The US two-year yield fell by as much as three basis points to 3.85% as trading resumed following Friday's US public holiday, while the 10-year yield rose one basis point to 4.36%. The dollar rose against most major peers. Traders are hoping that the week will finally bring some clarity on where trade tariffs will settle, with only a handful of countries including the UK striking deals so far. The 90 day period of universally lower tariffs is set to expire on Wednesday and Trump has indicated that the US will send letters from today informing various countries of unilateral tariff rates. 'Uncertainty has increased ahead of July 9 trade deal deadline as investors are starting to gradually price in the risk that President Trump could once again escalate global trade tensions and thus deal a blow to the global economic outlook,' said Valentin Marinov, head of G10 FX research and strategy at Credit Agricole. Trump has said trading partners can expect a rate anywhere between 10% and 70% — implying some may have to shoulder higher tariffs than expected — though he suggested some deals are in the offing, too. Adding to the uncertainty, Treasury Secretary Scott Bessent indicated some countries lacking an agreement by Wednesday's deadline will have the option of a three-week extension to negotiate. The dollar, which has often previously fallen on tariff concerns, was stronger against most major global partners on Monday. The Bloomberg Dollar Spot Index rose as much as 0.5%, though remains near its lowest levels since early 2022 after sliding almost 11% this year. 'We have a truce with China, and for the rest, it is a question of whether last-minute deals are struck, whether tariffs are substantially increased or whether fresh extensions are announced. All seem possible,' said Chris Turner, head of FX strategy at ING. The US two-year yield, though modestly lower on Monday, remained more than 10 basis points higher than a week ago. Stronger-than-expected payrolls data last week implied the Federal Reserve can hold interest-rates for longer, sending yields surging. Money markets are only fully pricing the next interest rate cut — which would be the first this year — by October. Federal Reserve meeting minutes from June, due to be published Wednesday, will offer further insight into officials' stance on the inflationary and growth outlooks. Longer-dated Treasuries are expected to remain under pressure after Trump's 'One Big Beautiful Bill' was signed into law last week. The bill, the centerpiece of the President's second-term agenda, extends 2017 tax cuts and will add an estimated $3.4 trillion to US deficits over the next decade. Vincent Mortier, chief investment officer at Amundi SA, one of Europe's largest asset managers, said the bill's detrimental impact on the US fiscal deficit matters more than tariffs, the cost of which 'will be borne by many players'. 'The sustainability of the US debt trajectory will start to be questioned,' he said in an interview with Bloomberg TV on Monday. 'More and more investors will try to hedge or to diversify away — slowly but surely — from the US dollar.' The firm is bearish on the greenback. --With assistance from Naomi Tajitsu. (Updates pricing, adds analyst comment in paragraph four.) For Brazil's Criminals, Coffee Beans Are the Target Sperm Freezing Is a New Hot Market for Startups SNAP Cuts in Big Tax Bill Will Hit a Lot of Trump Voters Too Pistachios Are Everywhere Right Now, Not Just in Dubai Chocolate China's Homegrown Jewelry Superstar ©2025 Bloomberg L.P.

Live updates: Trump hosting Netanyahu at White House as U.S. pushes for ceasefire deal in Gaza
Live updates: Trump hosting Netanyahu at White House as U.S. pushes for ceasefire deal in Gaza

Washington Post

time23 minutes ago

  • Washington Post

Live updates: Trump hosting Netanyahu at White House as U.S. pushes for ceasefire deal in Gaza

President Donald Trump is set to host Israeli Prime Minister Benjamin Netanyahu at the White House on Monday as the United States pushes for a ceasefire deal in Gaza. The two leaders, who are scheduled to meet over dinner, are also expected to discuss U.S. efforts to strike a permanent deal with Iran in the wake of recent airstrikes on its nuclear facilities. Trump is also scheduled to sign executive orders at the White House on Monday. Meanwhile, the administration is scrambling to strike a handful of trade deals this week. Republicans have cheered as President Donald Trump, through a series of lawsuits, executive orders and pure political browbeating, has dramatically expanded the power of the presidency. Those celebrations, however, may turn to anguish the next time a Democrat wins the White House. The onslaught of ads looking to brand the recently passed Republican megabill has begun. A series of Democratic organizations, from Unrig Our Economy to Protect Our Care to the League of Conservation Voters, began airing ads attacking the bill since its passage, with many of the spots directly targeting vulnerable Republicans who voted for the legislation. Since February, the Trump administration has been touting a $5 million visa to wealthy foreigners to get into the United States with lofty promises of an immediate rollout. But in reality, any Trump gold visas are a long way off — if they can ever be implemented at all. BRUSSELS — With only three days remaining before President Donald Trump's self-imposed July 9 deadline, U.S. and European negotiators continue to haggle over a skeletal trade deal that would defer a resolution of their toughest commercial disputes. The prospective accord, which would spare European goods the 50 percent tariffs that Trump has threatened to impose, is one of a relative handful of deals the administration is set to finalize by Wednesday. Republicans waged a mighty, messy and ultimately successful campaign to push their One Big Beautiful Bill Act to President Donald Trump's desk for a Fourth of July signing ceremony. The next campaign — the political battle to define and defend it — will challenge Republicans just as much. By any measure, passage of the bill represents a major victory for a president whose influence and dominance continue to expand.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store