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Yahoo
15 minutes ago
- Yahoo
Trump deal with Europe underlines new standard of (at least) 15% tariffs
President Trump and European Commission President Ursula von der Leyen announced a trade deal Sunday with a range of somewhat vague plans for energy purchases and open markets but one thing crystal clear: a tariff rate of 15% on European goods. It's the latest example of a new tariff floor for Trump that has been backed by other recent deals and letters, including one with Japan this past week that also saw a 15% rate. "We'll have a straight simple tariff of anywhere between 15% and 50%," Trump asserted. Both Trump and von der Leyen highlighted the 15% rate Sunday after their meeting in Scotland. Trump claimed a 'straight-across tariff of 15%' for 'automobiles and everything else,' adding that US exports to Europe would face a 0% rate. Von der Leyen confirmed the 15% tariffs 'across the board and inclusive," adding that it would bring stability and predictability to US-Europe relations. Trump added that the deal includes hundreds of billions of dollars in new EU purchases of U.S. energy as well as military equipment. The 15% rate may get a mixed reaction in Europe after negotiators had previously pushed for free trade (or more recently a 10% rate), but it's a halving from the 30% tariffs Trump promised in a letter earlier this month. Sunday's agreement with the European Union — America's largest trading partner — comes following agreements with Vietnam, the Philippines, and Indonesia with saw tariff rates of between 19% and 20%. Only one negotiation has seen Trump agree to a tariff below 15% — a pact with the UK in May — with Treasury Secretary Scott Bessent writing earlier this month, "usually the first person who makes a deal makes the best deal." Some details unclear Trump also said Sunday that many of the remaining countries facing a deadline of August 1 would face a letter dictating rates, saying they would be be 'very universal for most' and that the European deal is 'the big one.' The president said three to four additional countries could be in for deals in the the coming days while most nations would simply get letters. In any case, the 15% baseline is a shift — even from recent weeks. Trump earlier this month said that many countries would see a rate of 'probably 10% or 15%, we haven't decided yet.' Even last Sunday, Commerce Secretary Howard Lutnick told CBS: "You should assume that the small countries... will have a baseline tariff of 10%." This new standard is also notable fulfillment of an oft-made campaign trail promise that saw the then-candidate pledge to create a "ring around the collar" of the US economy with a blanket rate of between 10% and 20%. Fulfilling that pledge — which was often dismissed as unrealistic at the time — has now become not only accepted but even a plus for markets after six months of Trump's second term have seen threats of higher duties that have reordered world trade actions. The recent announcement of the deal with Japan with a 15% tariff on goods like autos was welcomed by traders and helped fuel rises in US markets as well as the Japanese Nikkei 225, which immediately surged on the news. Japanese automakers in particular saw a jump after that deal as those companies celebrated a lowering of auto tariffs from 25% to 15%. European automakers now find themselves in a similar position. Trump, meanwhile, says he has no plans to amended his other sector specific tariffs as part of the European Union deal — even as Von der Leyen called the 15% tariffs 'inclusive." There are 50% tariffs currently levied on steel and aluminum (with planned duties at the same rate on copper), and Trump said Sunday that those tariffs are a "worldwide thing that stays the way it is." Trump also reiterated his promises of sectoral tariffs on semiconductors and pharmaceuticals to be rolled out, which could be much higher than 15% — unless Europe gets a carveout. Also on Sunday, Commerce Secretary Howard Lutnick said that a new semiconductor tariffs are nearly ready and would be unveiled in about "two weeks time." Ben Werschkul is a Washington correspondent for Yahoo Finance. Click here for political news related to business and money policies that will shape tomorrow's stock prices Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
15 minutes ago
- Yahoo
Lauren Boebert's son charged with child abuse in incident she described as a ‘miscommunication'
Rep. Lauren Boebert's son has been charged with child abuse following an incident involving her grandson that she described as a 'miscommunication.' Tyler Boebert, 20, the eldest son of the MAGA congresswoman, was cited for criminal negligence where no death or injury occurred, which is a misdemeanor, for the July 11 incident, according to Windsor Police Department records obtained by Denver Westword. Authorities have not yet shared details about the incident, which the 38-year-old congresswoman brushed off as 'a miscommunication on monitoring my young grandson that recently led to him getting out of the house.' In a statement, the congresswoman described her son's legal trouble as a 'one-time incident,' noting there was 'no injury or physical abuse involved.' Child Protective Services met with the family, the congresswoman added. It's not the first run-in with the law for the congresswoman's 20-year-old son, whose girlfriend became pregnant with his child when he was just 17 years old. In September of 2022, Tyler Boebert flipped his father's SUV into a creek, leaving the person in his passenger seat with multiple concussions and a severely lacerated hand. He was ticketed for careless driving. The case was eventually dropped down to a 'defective vehicle for headlights' ticket under a plea deal. Then, in January 2024, he called the police to report that his father, Jayson, was assaulting him, leading to his arrest. During the incident, Jayson allegedly 'pushed Tyler to the ground and pushed his thumb into his mouth,' according to the arrest affidavit. A month later, Tyler was slapped with more than a dozen felony charges for a series of thefts from vehicles – and for using stolen credit cards at local gas stations. Tyler Boebert pleaded guilty last October to a single charge of attempting to commit identity theft and was given a two-year deferred judgment, allowing his felony to be cleared from his record after completing his 24-month probation term. He was required to complete 80 hours of community service and was banned from using controlled substances. It was not immediately clear whether the most recent citation would be a breach of his probation. He is due in Weld County Court on September 8. Lauren Boebert did not immediately return The Independent's request for comment.
Yahoo
15 minutes ago
- Yahoo
Jay Leno Warns Against One-Sided Political Jokes: ‘Why Shoot for Just Half an Audience?'
The former late night host's comments came days before Stephen Colbert announced the end of "The Late Show" Jay Leno has said for years that he doesn't understand why comedians would lean into one-sided political humor – and most recently cautioned against it just days before Stephen Colbert announced his late night show run on CBS was coming to an end. 'Comedy can be used to unite or divide people,' Leno said on July 15 during a conversation with David Trulio at the Ronald Reagan Presidential Foundation & Institution. Leno was asked for his thoughts on the intersection of comedic commentary and politics, two realms he sought for years to balance carefully. More from TheWrap Jay Leno Warns Against One-Sided Political Jokes: 'Why Shoot for Just Half an Audience?' | Video Speaker Mike Johnson Slams Ghislaine Maxwell's 20-Year Sentence: 'A Pittance' | Video The Best New Shows on Netflix in July 2025 Connie Chung Says 'Shame On' Shari Redstone and the Ellisons: 'I Fear the End of CBS as I Knew It' | Video The former late night host also said it was fun to receive letters from viewers who equally accused of him of being a Republican or a Democrat. They often were reacting to 'the same joke' he said, which was 'how you got the whole audience.' Leno reflected on his decades-long friendship with Rodney Dangerfield and noted, 'I knew Rodney for 40 years. I have no idea if he was Democrat or Republican. We never discussed it. We just discussed jokes.' 'And to me, I like to think that people come to a comedy show to kind of get away from the things, you know, the pressures of life or whatever it might be — and I love political humor,' Leno continued. After he was asked how to find 'common ground' through humor, Leno insisted that only catering to one political persuasion was ineffective. 'Well, why shoot for just half an audience all the time? You know, why not try to get the whole, I mean, I like to bring people into the big picture,'' he said. 'I don't understand why you would alienate one particular group, you know, or just don't do it at all.' Watch the interview in the video above. The post Jay Leno Warns Against One-Sided Political Jokes: 'Why Shoot for Just Half an Audience?' | Video appeared first on TheWrap.
