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Washington Post
32 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.
News24
33 minutes ago
- News24
SA's citrus farmers brace for Trump tariffs impact
Walk down the aisles of a Trader Joe's or Whole Foods Market in the US, and chances are many of the piles of oranges, lemons, limes and grapefruit will be labelled 'Produce of South Africa'. They have become a staple in the US — the world's largest citrus importer — especially during the off-season summer months, when in the Southern Hemisphere the South African winter harvest is at its peak. But now, those supplies are threatened by a potential 31% tariff that President Donald Trump has said will go into effect on 9 July, adding that he won't consider delaying the deadline. The looming levy has cast a cloud over the sunny valleys of Citrusdal, a tiny, serene farming town nestled amid rolling green hillocks in the Western Cape area of South Africa. Tucked into the base of the Cederberg mountains about 100 miles north of Cape Town, the area is dominated by citrus farms, giving the town its name. For a quarter-century, the juicy produce of the area's orchards — owned over generations by people mostly of Afrikaner heritage — has journeyed thousands of miles to make it to the fruit bowls of American homes. But this season is different. Now, Trump's tariff policies are threatening the very same white farmers to whom he offered asylum, falsely claiming that they are targets of a genocide and that their land is being seized by the state. The levies are likely to have a debilitating impact on their operations, the livelihoods of the thousands of people they employ and the country's R35 billion citrus industry — one of the rare bright spots in South Africa's stagnant economy. 'Our business is built for the US market, and for about 25 years we've planted, we've picked, we've planned accordingly,' said Gerrit van der Merwe, the chief executive officer of family owned ALG Estates, as he stood in his 2 1 000-hectare farm donning a grey puffer jacket, jeans and a pair of Veldskoen — leather footwear made famous by Afrikaner farmers. South Africa is the world's second-largest exporter of citrus fruits, behind Spain. Trump's tariffs are now threatening to price farmers in the Western Cape — the country's prime area for the produce — out of a key market, leaving them to navigate an uncertain future. Citrus growers have been preparing for a new reality. Over recent weeks, some orchards have been in a panicked rush to get their produce to the US market ahead of the looming deadline. Van der Merwe's farm, whose packing season began 1 May, has been working on getting as much fruit as possible on vessels and shipped, he said. But longer term, the damages could be more devastating and may push farmers to shrink orchards that are specifically developed to meet demand in the US, said Van der Merwe, whose farms employ 2 000 people and have been managed by his family for eight generations. 'We've built our supply chains, we've built our supermarkets, we've built our importing companies on that side, so we've been trying to own that market to make sure that we are very, very efficient, and that we can send the maximum fruit into that market,' he said. 'For us, we've become dependent on the US market, but also the US consumers have also become dependent on our fruit.' The US is the second-largest destination for South African exports after China, accounting for more than $20 billion last year. Major exports include precious stones and metals, organic chemicals and edible fruit. Although the nation sends just 5% to 6% of its citrus produce to the US, the exports had been expected to rise about 7.7% to 7 million cartons this season, and the industry had ambitious plans to grow that share. The US duties will be the latest blow to the industry that employs about 140 000 people at the farm level. A rare South African export success, it has been threatened by the crumbling domestic infrastructure at state-owned rail and ports operator Transnet, that has been blamed for delays and dwindling shipments of key commodities. Should the higher tariff 'take effect, it would make our citrus completely uncompetitive in the US market,' said Boitshoko Ntshabele, CEO of the Citrus Growers' Association. The CGA estimates that logistical inefficiencies already cost the sector R5.3 billion a year. South Africa is among countries slapped with the steepest tariffs, placing it at an immediate disadvantage while competing with its citrus producing South American rivals, like Peru and Chile. To mitigate the impacts of the tariffs, growers may opt to reroute their fruit to other markets, including Europe, but that could undermine the stability in those markets and have 'a knock-on effect on the entire Southern African citrus industry,' Ntshabele warned. The sector is 'looking to add about 100 million export cartons by 2032, and therefore continuously working on diversifying exports markets,' he said. 'This will remain our focus in the near term.' Europe is already among the biggest citrus export markets for South Africa. The industry is also locked in a long-running dispute over the European Union's regulations, which mandated stringent cold-treatment measures and additional inspections of South African citrus following cases of fruits affected by the false codling moth. The moth lays eggs on the surface of the fruit, and the larvae that emerge from the eggs burrow into the rind, develop brown discolouration and render the fruit mouldy and unmarketable. The CGA says EU regulations cost the industry about R3.7 billion each season. As farmers look to widen their export markets, they could turn to China and other Asian countries, said Paul Makube, a senior agricultural economist at First National Bank. China's recent announcement of a plan to grant 53 African nations tariff-free access presents an opportunity for citrus farmers to expand there. 'It has become increasingly important to start diversifying, and with the Asian markets with their big populations and income growth in China, India, they need to start opening up those Asian markets,' Makube said. That said, growing the industry's presence in the world's top market for the fruits remains critical. South African President Cyril Ramaphosa sought to reset strained relations with the US during an Oval Office meeting with Trump in Washington in May. South Africa is asking the US to drop its reciprocal tariff to the 10% baseline. 'We believe that if we have a live conversation going, we will be excluded from the 30%, maybe sitting with the 10%,' said Agriculture Minister John Steenhuisen. 'That still allows us to compete against some of our competitors, particularly in the South American market.' There are no signs that will happen, and at ALG Estates, Van der Merwe is worried. 'I think 10% is manageable; it's not ideal,' he said. 'For now, we're asking to be handled the same as Peru and Chile — our competition. Otherwise, we can't compete.'
Business Insider
35 minutes ago
- Business Insider
Roth MKM Remains a Buy on Franklin Covey Company (FC)
Roth MKM analyst Jeff Martin maintained a Buy rating on Franklin Covey Company today and set a price target of $27.00. The company's shares closed last Thursday at $22.10. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. According to TipRanks, Martin is a 5-star analyst with an average return of 15.4% and a 56.51% success rate. Martin covers the Industrials sector, focusing on stocks such as BGSF, Barrett Business Services, and Franklin Covey Company. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Franklin Covey Company with a $36.00 average price target, which is a 62.90% upside from current levels. In a report released on July 3, Barrington also maintained a Buy rating on the stock with a $35.00 price target. The company has a one-year high of $44.46 and a one-year low of $18.94. Currently, Franklin Covey Company has an average volume of 110.5K.
