Xi Has Spent Decades Preparing for a Cold War With the U.S.
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Yahoo
31 minutes ago
- Yahoo
Tariff letters to 12 countries going out Monday: Trump
US President Donald Trump has signed letters to 12 countries outlining the various tariff levels they will face on goods they export to the United States, with the "take it or leave it" offers to be sent out on Monday. Trump, speaking to reporters aboard Air Force One as he travelled to New Jersey, declined to name the countries involved, saying that would be made public on Monday. Trump had earlier on Thursday told reporters that he expected a first batch of letters to go out on Friday, a national holiday in the United States, though the date had shifted. In a global trade war that has upended financial markets and set off a scramble among policymakers to guard their economies, Trump in April announced a 10 per cent base tariff rate and additional amounts for most countries, some ranging as high as 50 per cent. However, all but the 10 per cent base rate were subsequently suspended for 90 days to allow more time for negotiations to secure deals. That period ends on July 9, although Trump early on Friday said the tariffs could be even higher - ranging up to 70 per cent - with most set to go into effect August 1. "I signed some letters and they'll go out on Monday, probably 12," Trump said, when asked about his plans on the tariff front. "Different amounts of money, different amounts of tariffs." Trump and his top aides initially said they would launch negotiations with scores of countries on tariff rates, but the US president has soured on that process after repeated setbacks with major trading partners, including Japan and the European Union. He touched on that briefly late on Friday, telling reporters: "The letters are better ... much easier to send a letter." He did not address his prediction that some broader trade agreements could be reached before the July 9 deadline. The shift in the White House's strategy reflects the challenges of completing trade agreements on everything from tariffs to non-tariff barriers such as bans on agricultural imports, and especially on an accelerated timeline. Most past trade agreements have taken years of negotiations to complete. The only trade agreements reached to date are with Britain, which reached a deal in May to keep a 10 per cent rate and won preferential treatment for some sectors including autos and aircraft engines, and with Vietnam, cutting tariffs on many Vietnamese goods to 20 per cent from his previously threatened 46 per cent. Many US products would be allowed to enter Vietnam duty-free. A deal expected with India has failed to materialise, and EU diplomats on Friday said they have failed to achieve a breakthrough in trade negotiations with the Trump administration, and may now seek to extend the status quo to avoid tariff hikes. Sign in to access your portfolio
Bloomberg
32 minutes ago
- Bloomberg
Hamas Says It's Ready to ‘Immediately' Enter Ceasefire Talks
Hamas said it is ready to 'immediately' start negotiations with Israel on a proposal by US President Donald Trump for a 60-day ceasefire in Gaza. A deal on the framework would see Hamas return half of the 50 hostages it still holds and pursue mediated talks with Israel to end the war. The proposal, accepted by Israeli Prime Minister Benjamin Netanyahu, will be one of the major topics during his visit to Washington where he will meet with Trump on Monday.
Yahoo
37 minutes ago
- Yahoo
Carney tours Calgary Stampede grounds
Prime Minister Mark Carney tours the grounds of the Calgary Stampede on the first day of the annual rodeo. (July 4, 2025)
