Dems can't bring themselves to celebrate Trump's ‘delicious deals': Jesse Watters
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
19 minutes ago
- Yahoo
TACO not on the menu: Howard Lutnick says tariffs start August 1 with no extensions
Tariffs are coming on August 1 and there will be no more extensions, Commerce Secretary Howard Lutnick said. President Donald Trump imposed his 'Liberation Day' tariffs in April, causing a rollercoaster stock market. A week later, he announced a 90-day pause, which has now expired, with many set to take effect Friday. Although the world may have gotten used to Trump announcing sweeping levies before backing out of them shortly thereafter, this time, there's no risk of TACO — the shorthand for "Trump Always Chickens Out" — the commerce secretary suggested. "No extensions. No more grace periods. August 1, the tariffs are set. They'll go into place," Lutnick said on "Fox News Sunday.' World leaders are still more than willing to talk to Trump after the August 1 deadline. 'Between now and then, I think the president's going to talk to a lot of people. Whether they can make him happy is another question, but the president is definitely willing to negotiate and talk to the big economies,' Lutnick continued. Lutnick's announcement of the hard deadline contrasts with the message of Treasury Secretary Scott Bessent days earlier, when he suggested the tariff deadlines were flexible. 'The important thing here is the quality of the deal, not the timing of the deals,' Bessent told CNBC on Monday. The hard deadline comes months after the president earned the TACO acronym after he backed out of his sweeping tariff plan. On April 2, which he's dubbed Liberation Day, Trump declared the day would 'forever be remembered as the day American industry was reborn, the day America's destiny was reclaimed, and the day that we began to make America wealthy again.' Stock market turbulence ensued. The NASDAQ broke a record with its largest single-day point drop in the market's 50-year history as investors responded to Trump's tariff plan. Just one week after Liberation Day, he walked back on his grand plan and the stock market surged. That's when the acronym TACO emerged. Financial Times columnist Robert Armstrong coined the term to describe the president's pattern of implementing trade policy threats, which investors predicted would cause the market to tumble, before he walks back on that policy, leading to a market rebound. Last month, he delayed the July 9 tariff deadline to August 1. Trump is meeting with European Commission chief Ursula von der Leyen on Sunday to try to avoid a potential trade war. "We're working very diligently with Europe, the EU," Trump told reporters before he left for Scotland on Friday. "I would say that we have a 50-50 chance, maybe less than that, but a 50-50 chance of making a deal with the EU." Lutnick also commented on Sunday's meeting. Speaking on 'Fox News Sunday,' he remarked: 'The question is, do they offer President Trump a good enough deal that is worth it for him to step off of the 30% tariffs that he set.' Trump has announced trade deals with several countries, including Japan, Indonesia, the Philippines, Vietnam and the United Kingdom. He's said letters had been sent out earlier this month to dozens of countries with tariff rates. 'We'll have a straight, simple tariff of anywhere between 15 percent and 50 percent," Trump said this week. "We have 50 [percent] because we haven't been getting along with those countries too well." Economic experts have warned that consumers could pay the price for the new levies. "Now that the Trump administration is concluding deals that would see the tariff rate facing most trading partners settling at between 15% and 20%, with even higher rates levied on Chinese imports, we suspect retailers will be forced to finally raise the prices paid by consumers,' Paul Ashworth, chief North America economist with Capital Economics, said in a research note, CBS News reported. Some companies have preemptively taken action. Trump has threatened a 50 percent tariff on Brazil. The steep levy threats against the country have prompted a New Jersey-based orange juice manufacturer to sue the Trump administration, arguing that the 50 percent tariff could result in a $70 million hit to its business. Sign in to access your portfolio
American Military News
21 minutes ago
- American Military News
Zelenskyy Vows More Attacks Inside Russia As Civilian Casualties Mount In Eastern Ukraine
Civilian deaths mounted as Russia continued to press its offensive in eastern Ukraine, claiming to have captured two more villages, as Ukrainian leader Volodymyr Zelenskyy vowed to retaliate with further attacks inside Russia. Ukraine did not immediately comment directly on claims by the Russian Defense Ministry that its forces had on July 26 captured Zeleniy Hai in the Donetsk region and the village of Malyivka in the Dnipropetrovsk region. Zelenskyy did acknowledge heavy fighting along the frontlines in Ukraine's eastern regions, but he also spoke of 'successful actions by our units' in the embattled Sumy region and said his forces were 'eliminating the occupiers in the border areas.' Reports from both sides could not immediately be verified. Zelenskyy also said the focal point of Russian assaults remained near the important logistics hub of Pokrovsk, a city with a prewar population of more than 60,000 but which now is mostly in ruins from Russian air strikes. In his nightly video address, Zelenskyy said Ukrainian military commander Oleksandr Syrskiy identified Pokrovsk as an area requiring 'special attention' amid constant Russian attacks. Military spokesman Viktor Trehubov told Ukrainian TV that Russian forces were attacking Pokrovsk in 'a small torrent…that simply does not stop' The violence comes three days after Ukrainian and Russian officials held a third direct meeting in Istanbul amid efforts to end the conflict, which ignited into a full-blown war following Russia's invasion of February 2022. Those talks made progress on further swaps of prisoners and the remains of fallen soldiers, but no breakthroughs were apparent on efforts to reach a cease-fire. US President Donald Trump, showing frustration at Russian leader Vladimir Putin's refusal to agree to a cease-fire, in mid-July threatened to impose new sanctions on Moscow if it doesn't reach a deal with Kyiv by early September. In an interview with Fox News broadcast on July 26, US Secretary of State Marco Rubio said that Trump is becoming 'increasingly frustrated' that despite having good interactions with Putin during phone calls, 'it never leads anywhere.' Trump is 'losing his patience. He's losing his willingness to continue to wait for the Russian side to do something here, to bring an end to this war,' Rubio said, adding that there was 'no way that Putin could have sustained this war without Chinese support, particularly buying his oil.' Zelenskyy has said Russia's latest attacks were a 'response' to Kyiv's proposal of an immediate cease-fire during the peace talks. Zelenskyy vowed to retaliate with further attacks on military sites inside Russia after civilian deaths mounted on July 26 in multiple Ukrainian regions under the fire of Russian artillery and drone strikes. 'Today, unfortunately, there were numerous Russian strikes on our cities and our communities: Sumy – including Ukrainian energy infrastructure, as well as Dnipro, Kharkiv, Kherson region, and Donetsk region,' Zelenskyy said in his July 26 video address. 'Such strikes certainly cannot be left without response, and Ukrainian long-range drones ensure one,' he posted separately on X. 'Russian military enterprises, Russian logistics, and Russian airfields must see that Russia's own war is now hitting them back with real consequences,' Zelenskyy posted. Zelenskyy said he instructed officials to be more active in attracting external funding for drones. 'I also instructed government officials and the defense minister to more actively review all our agreements we have with our partners — the ones we must implement fully, but which, unfortunately, are currently still only partially being carried out,' he added without being specific. Zelenskyy has announced that his country had secured funding for three US-made Patriot missile defense systems and is negotiating for seven more of the air-defense systems, part of a new agreement that enables European allies to buy US weaponry for Kyiv. Following Zelenskyy's latest remarks, Russian authorities reported attacks inside the country. Aleksandr Khinshtein, governor of Russia's Kursk region, on July 26 claimed that a Ukranian drone had killed one person in the village of Obesta, about 5 kilometers from the border. And authorities in the Volgograd region said falling debris from destroyed Ukrainian drones disrupted railway power supply near the border area. Traffic at the city's airport was also disrupted, officials said. Civilian Casualties Mount Following Russia's large-scale overnight attacks on Ukraine's Dnipropetrovsk and Kharkiv regions — which left multiple people dead and injured — the head of the regional military administration, Serhiy Lysak, said the Russian military attacked the Nikopol and Synelnykove districts of the Dnipropetrovsk region. Lysak said a 66-year-old man died in the Nikopol region, while three people were injured in the Synelnykove district. Serhiy Gorbunov, military administrator of the strategic frontline city of Kostyantynivka, wrote on social media that a civilian was killed as the result of a drone attack and urged residents to evacuate away from oncoming Russian forces. 'We urge all residents to take care of themselves and their loved ones! Do not ignore the threat — evacuate to safer regions in a timely manner,' he wrote. Kharkiv Mayor Ihor Terekhov said five people — including three emergency workers — were injured while responding to an earlier strike. Sumy military Governor Oleh Hryhorov said three people were hurt in air attacks in the northeast Ukrainian region. Russia denies targeting civilian areas despite widespread evidence of such attacks.
Wall Street Journal
22 minutes ago
- Wall Street Journal
America Should Travel Fast
Regarding Allysia Finley's 'California's Bullet Train Is a Model of Progressive Governance' (Life Science, July 21): Every highway and airport in America is subsidized—by billions more than we've ever given to high-speed rail. The $6 billion private line in Florida isn't high-speed, which costs more. But the benefit of true high-speed rail is that more people ride it because it's more convenient than driving or flying. Dozens of other countries, even those with far fewer resources than America, such as Morocco, build it because it's a better return on investment. I conducted a financial analysis of the California high-speed rail with some Harvard Business School colleagues more than a decade ago, and we came to two conclusions: It will cost more than they say, and it will still cost less than expanding highways or airports. The rail project should be reformed, not tanked.
