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Los Angeles Times
3 hours ago
- Los Angeles Times
U.S. and European Union announce a trade framework
EDINBURGH, Scotland — The United States and the European Union reached a tariff deal Sunday after a brief meeting between President Trump and European Commission chief Ursula von der Leyen. A White House deadline was days away from imposing punishing import taxes on the 27-member EU, which is America's leading global trading partner. 'It was a very interesting negotiation. I think it's going to be great for both parties,' Trump said. The make-or-break talks were meant to head off trade penalties — and promised retaliation from Europe — that could have sent shock waves through economies around the globe. Trump and Von der Leyen held private talks at one of Trump's golf courses in Scotland, then emerged a short time later saying they had reached an 'across the board' agreement. In remarks before the session, Trump pledged to change what he characterized as 'a very one-sided transaction, very unfair to the United States.' 'I think the main sticking point is fairness,' he said while also noting, 'We've had a hard time with trade with Europe, a very hard time.' Von der Leyen had said the U.S. and EU combined have the world's largest trade volume, encompassing hundreds of millions of people and trillions of dollars. Trump said the stakes involved meant a deal should be pursued. 'We should give it a shot.' Von der Leyen said Trump was 'known as a tough negotiator and deal maker,' which prompted the president to interject, 'But fair.' She said that, if the agreement is successful, 'I think it would be the biggest deal each of us has ever struck.' For months, Trump has threatened most of the world with large tariffs in hopes of shrinking major U.S. trade deficits with many key trading partners. More recently, he had hinted that any deal with the EU would have to 'buy down' the currently scheduled export tax rate of 30%. The Republican president pointed to a recent U.S. agreement with Japan that set tariff rates for many goods at 15% and suggested the EU could agree to something similar. Asked whether he would be willing to accept tariff rates lower than that, Trump said, 'No.' As for the threat of retaliation from the Europeans, he said: 'They'll do what they have to do.' Their meeting came after Trump played golfed for the second straight day at his Turnberry course. The president's five-day visit to Scotland is built around golf and promoting properties bearing his name. A small group of demonstrators at the course waved American flags and raised a sign criticizing British Prime Minister Keir Starmer, who plans his own Turnberry meeting with Trump on Monday. Other voices could be heard cheering and chanting, 'Trump! Trump!' as he played nearby. On Tuesday, Trump will be in Aberdeen, in northeastern Scotland, where his family business has another golf course and is opening a third next month. The president and his sons plan to help cut the ribbon on the new course. Joining Von der Leyen were Maros Sefcovic, the EU's chief trade negotiator; Bjorn Seibert, the head of Von der Leyen's Cabinet; Sabine Weyand, the commission's directorate-general for trade; and Tomas Baert, head of trade and agriculture at the EU's delegation to the U.S. The deadline for the Trump administration to begin imposing tariffs has shifted in recent weeks but was now firm, the administration said. 'No extensions, no more grace periods. Aug. 1, the tariffs are set, they'll go into place. Customs will start collecting the money and off we go,' U.S. Commerce Secretary Howard Lutnick told 'Fox News Sunday.' He added, however, that even after that, 'people can still talk to President Trump. I mean, he's always willing to listen.' Without an agreement, the EU said it was prepared to retaliate with tariffs on hundreds of American products, including such diverse items as beef, auto parts, beer and Boeing airplanes. If Trump eventually made good on his threat of tariffs against Europe, it could mean that items including French cheese, Italian leather goods, German electronics and Spanish pharmaceuticals would be more expensive in the United States. The U.S. and Britain, meanwhile, announced a trade framework in May and a larger agreement last month during the Group of 7 meeting in Canada. Trump says that deal is concluded and that he and Starmer will discuss other matters, though the White House has suggested it still needs some polishing. Weissert writes for the Associated Press.
Yahoo
5 hours ago
- Yahoo
5 Breakout Growth Stocks You Can Buy and Hold for the Next Decade
Key Points Nvidia and TSMC are two of the best ways to play the growth in AI infrastructure. Meta Platforms and Toast are using AI to help drive growth. GitLab is helping transform the software development lifecycle. 10 stocks we like better than Nvidia › Investors looking for long-term winners should focus on companies with strong growth runways, clear competitive advantages, and the ability to adapt to evolving tech trends. Let's look at five breakout growth stocks that fit this bill that you can buy now and hold for the long term. 1. Nvidia Nvidia (NASDAQ: NVDA) is the undisputed leader in artificial intelligence (AI) infrastructure. Its graphics processing units (GPUs) have become the backbone of AI workloads, and it's hard to overstate the company's dominance. It captured an incredible 92% market share in Q1, and even at a $4 trillion market cap, Nvidia is still in growth mode. Its real moat isn't just its chips -- it's its CUDA software platform. CUDA is the main reason why the company is in the position it is in today. Nvidia pushed its free software platform into research labs and universities well before AI went mainstream. This led to developers being trained on CUDA, and tools and libraries being built on top of it that improve its chips' performance in handling AI tasks. Nvidia, meanwhile, recently got good news when the Trump administration indicated it would once again let it sell its H20 chips in China. The company is also pushing into new markets beyond AI, with the auto segment being another potential huge market with the advent of autonomous driving and robotaxis. As such, Nvidia remains a great growth stock to own for the long haul. 2. Taiwan Semiconductor Manufacturing Taiwan Semiconductor Manufacturing (NYSE: TSM) is the world's leading chip foundry, and its importance just keeps growing. Today, most advanced chipmakers just design chips, leaving their production to TSMC. That includes top names like Nvidia, AMD, Broadcom, and Apple. TSMC is benefiting from the AI surge, with high-performance computing (HPC) now making up 60% of its revenue -- up from 52% a year ago. The company is far ahead in advanced node manufacturing, and that lead keeps widening. Nodes refer to how many transistors can be fit on a chip, and the more dense a chip is, the more powerful and energy efficient it becomes. Chips built on 7-nanometer and smaller nodes made up 74% of TSMC's revenue last quarter, with 3nm chips accounting for 24%. With other foundries struggling, TSMC is the clear leader in the space due to its scale and technological expertise. As a result, it has been an invaluable partner to top chip designers. The great thing is that it doesn't matter which company takes market share, as they all use TSMC. With AI demand continuing to grow and new markets like autonomous driving emerging, TSMC looks like a cornerstone stock to own for the next decade. 3. Meta Platforms One company looking to win the AI battle is Meta Platforms (NASDAQ: META). Meta already owns one of the most powerful digital ad platforms in the world, and it is now using AI to supercharge it. Meta's Llama models are helping boost engagement across Facebook and Instagram, which means users are spending more time on the apps, leading to more ad inventory to sell. At the same time, its AI tools are helping advertisers build better campaigns and target users more precisely, leading to higher ad prices and stronger return on ad spend. But the biggest opportunities are still ahead. Meta is only just beginning to serve ads on WhatsApp and Threads. WhatsApp has more than 3 billion users, and Threads already has 350 million. Both are early in their ad rollouts, and that gives Meta a long runway for growth. Meanwhile, CEO Mark Zuckerberg is spending aggressively to secure AI talent, with a stated goal of delivering "personal superintelligence." That's a bold vision, but if Meta succeeds, it could become the most important AI platform in the world. That's a reason to own it for the long term. 4. GitLab GitLab (NASDAQ: GTLB) is transforming itself from a code repository into a full-blown software development lifecycle platform. Its platform now provides tools for planning, coding, testing, securing, deploying, and monitoring software, as it looks to become a single platform for the entire software development lifecycle. And it's doing this just as AI is fundamentally changing how code is written, tested, and deployed. Software development has been accelerating due to AI, and GitLab is becoming a key partner. GitLab 18 marked a big leap forward, with over 30 new features including Duo Agent, which allows AI agents to help across the full development lifecycle. That matters, because only about 20% of a developer's time is spent actually writing code. GitLab is now focused on helping drive efficiency everywhere else. In an AI-first software world, GitLab's position as an end-to-end workflow solution puts it in a strong spot. This looks like a strong growth story with a lot of upside potential in the years to come. 5. Toast Toast (NYSE: TOST) is growing in importance in the restaurant industry, as its software platform helps restaurants manage operations and drive sales. Meanwhile, the company is now integrating AI into its platform in a way that could meaningfully change how restaurants make decisions. Tools like ToastIQ and Sous Chef are helping restaurants make smarter, faster decisions in real time -- whether it's optimizing staffing, adjusting menus, or helping improve supply chains. It has even started piloting new modules to help restaurants upsell customers and improve their advertising with Google. Toast's value proposition is clear: It helps restaurants run better and make more money. Meanwhile, through its payment processing, it benefits when its customers succeed. As restaurants face rising costs and tighter margins, they're turning to tech to help, and Toast is becoming one of the first places they look. That said, the restaurant industry is large and fragmented, giving Toast plenty of room to continue to expand over the next decade. Should you invest $1,000 in Nvidia right now? Before you buy stock in Nvidia, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nvidia wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,628!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,063,471!* Now, it's worth noting Stock Advisor's total average return is 1,041% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Geoffrey Seiler has positions in GitLab and Toast. The Motley Fool has positions in and recommends Advanced Micro Devices, Apple, GitLab, Meta Platforms, Nvidia, Taiwan Semiconductor Manufacturing, and Toast. The Motley Fool recommends Broadcom. The Motley Fool has a disclosure policy. 5 Breakout Growth Stocks You Can Buy and Hold for the Next Decade was originally published by The Motley Fool
Boston Globe
6 hours ago
- Boston Globe
Trump criticized the idea of presidential vacations. His Scotland trip is built around golf.
The White House isn't calling Trump's five-day, midsummer jaunt a vacation, but rather a working trip where the Republican president might hold a news conference and sit for interviews with U.S. and British media outlets. Trump was also talking trade in separate meetings with European Commission chief Ursula von der Leyen and British Prime Minister Keir Starmer. Trump is staying at his properties near Turnberry and Aberdeen, where his family owns two golf courses and is opening a third on Aug. 13. Trump played golf over the weekend at Turnberry and is helping cut the ribbon on the new course on Tuesday. Advertisement He's not the first president to play in Scotland: Dwight D. Eisenhower played at Turnberry in 1959, more than a half century before Trump bought it, after meeting with French President Charles de Gaulle in Paris. But none of Trump's predecessors has constructed a foreign itinerary around promoting vacation sites his family owns and is actively expanding. Advertisement It lays bare how Trump has leveraged his second term to pad his family's profits in a variety of ways, including overseas development deals and promoting cryptocurrencies, despite growing questions about ethics concerns. 'You have to look at this as yet another attempt by Donald Trump to monetize his presidency,' said Leonard Steinhorn, who teaches political communication and courses on American culture and the modern presidency at American University. 'In this case, using the trip as a PR opportunity to promote his golf courses.' A parade of golf carts and security accompanied President Trump at Turnberry, on the Scottish coast southwest of Glasgow, on Sunday. Christopher Furlong/Getty President Trump on the links. Christopher Furlong/Getty Presidents typically vacation in the US Franklin D. Roosevelt went to the Bahamas, often for the excellent fishing, five times between 1933 and 1940. He visited Canada's Campobello Island in New Brunswick, where he had vacationed as a child, in 1933, 1936 and 1939. Reagan spent Easter 1982 on vacation in Barbados after meeting with Caribbean leaders and warning of a Marxist threat that could spread throughout the region from nearby Grenada. Presidents also never fully go on vacation. They travel with a large entourage of aides, receive intelligence briefings, take calls and otherwise work away from Washington. Kicking back in the United States, though, has long been the norm. Harry S. Truman helped make Key West, Florida, a tourist hot spot with his 'Little White House' cottage there. Several presidents, including James Buchanan and Benjamin Harrison, visited the Victorian architecture in Cape May, New Jersey. More recently, Bill Clinton and Barack Obama boosted tourism on Massachusetts' Martha's Vineyard, while Trump has buoyed Palm Beach, Florida, with frequent trips to his Mar-a-Lago estate. But any tourist lift Trump gets from his Scottish visit is likely to most benefit his family. 'Every president is forced to weigh politics versus fun on vacation,' said Jeffrey Engel, David Gergen Director of the Center for Presidential History at Southern Methodist University in Dallas, who added that Trump is 'demonstrating his priorities.' Advertisement 'When he thinks about how he wants to spend his free time, A., playing golf, B., visiting places where he has investments and C., enhancing those investments, that was not the priority for previous presidents, but it is his vacation time,' Engel said. It's even a departure from Trump's first term, when he found ways to squeeze in visits to his properties while on trips more focused on work. Trump stopped at his resort in Hawaii to thank staff members after visiting the memorial site at Pearl Harbor and before embarking on an Asia trip in November 2017. He played golf at Turnberry in 2018 before meeting with Russian President Vladimir Putin in Finland. Trump once decried the idea of taking vacations as president. 'Don't take vacations. What's the point? If you're not enjoying your work, you're in the wrong job,' Trump wrote in his 2004 book, 'Think Like a Billionaire.' During his presidential campaign in 2015, he pledged to 'rarely leave the White House.' Even as recently as a speech at a summit on artificial intelligence in Washington on Wednesday, Trump derided his predecessor for flying long distances for golf — something he's now doing. 'They talked about the carbon footprint and then Obama hops onto a 747, Air Force One, and flies to Hawaii to play a round of golf and comes back,' he said. On the green... Christopher Furlong/Getty ... and in the sand. Christopher Furlong/Getty Presidential vacations and any overseas trips were once taboo Trump isn't the first president not wanting to publicize taking time off. George Washington was criticized for embarking on a New England tour to promote the presidency. Some took issue with his successor, John Adams, for leaving the then-capital of Philadelphia in 1797 for a long visit to his family's farm in Quincy, Massachusetts. James Madison left Washington for months after the War of 1812. Advertisement Teddy Roosevelt helped pioneer the modern presidential vacation in 1902 by chartering a special train and directing key staffers to rent houses near Sagamore Hill, his home in Oyster Bay, New York, according to the White House Historical Association. Four years later, Roosevelt upended tradition again, this time by becoming the first president to leave the country while in office. The New York Times noted that Roosevelt's 30-day trip by yacht and battleship to tour construction of the Panama Canal 'will violate the traditions of the United States for 117 years by taking its President outside the jurisdiction of the Government at Washington.' In the decades since, where presidents opted to vacation, even outside the U.S., has become part of their political personas. In addition to New Jersey, Grant relaxed on Martha's Vineyard. Calvin Coolidge spent the 1928 Christmas holidays at Sapelo Island, Georgia. Lyndon B. Johnson had his 'Texas White House,' a Hill Country ranch. Eisenhower vacationed in Newport, Rhode Island. John F. Kennedy went to Palm Springs, California, and his family's compound in Hyannis Port, Massachusetts, among other places. Richard Nixon had the 'Southern White House' on Key Biscayne, Florida, while Joe Biden traveled frequently to Rehoboth Beach, Delaware, while also visiting Nantucket, Massachusetts, and St. Croix in the U.S. Virgin Islands. George H.W. Bush was a frequent visitor to his family's property in Kennebunkport, Maine, and didn't let the start of the Gulf War in 1991 detour him from a monthlong vacation there. His son, George W. Bush, opted for his ranch in Crawford, Texas, rather than a more posh destination. Advertisement Presidential visits help tourism in some places more than others, but Engel said that for some Americans, 'if the president of the Untied States goes some place, you want to go to the same place.' He noted that visitors emulating presidential vacations are out 'to show that you're either as cool as he or she, that you understand the same values as he or she or, heck, maybe you'll bump into he or she.'
