
Trump says Japan will invest $550 billion in US at his direction. It may not be a sure thing
'Japan is putting up $550 billion in order to lower their tariffs a little bit,' Trump said Thursday. 'They put up, as you could call it, seed money. Let's call it seed money.'
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Trump says he has not been asked to pardon Maxwell following Epstein interviews
US President Donald Trump has said he has not been asked to pardon disgraced British socialite Ghislaine Maxwell following her 'truthful' answers to government questions about sex offender Jeffrey Epstein. Maxwell was found guilty in December 2021 of luring young girls to massage rooms for paedophile financier Epstein to molest between 1994 and 2004. The US Department of Justice met with the 63-year-old convicted sex-trafficker last week – interviews in which her lawyer David Markus said his client would 'testify truthfully'. The US government faced a backlash from Mr Trump's support base following words from Attorney General Pam Bondi that there was no evidence Epstein had a 'client list'. Following the criticisms, Deputy Attorney General Todd Blanche met with Maxwell over the course of two days – with Mr Blanche saying: 'No-one is above the law and no lead is off-limits.' Mr Markus previously said the disgraced socialite had not been offered a pardon as part of the interview process. In a short statement ahead of the meetings, the lawyer said: 'I can confirm that we are in discussions with the government and that Ghislaine will always testify truthfully. 'We are grateful to President Trump for his commitment to uncovering the truth in this case.' Questioned on whether he had been asked to pardon Maxwell, the US President told reporters on Monday: 'Well, I'm allowed to give her a pardon, but nobody's approached me with it. Nobody's asked me about it. 'It's in the news – that aspect of it – but right now, it would be inappropriate to talk about it.' During her three-week trial in 2021, jurors heard prosecutors describe Maxwell as 'dangerous', and were told details of how she helped entice vulnerable teenagers to Epstein's various properties for him to sexually abuse. She was sentenced to 20 years in prison at the federal court in the southern district of New York (SDNY) in June 2022. Epstein was found dead in his cell at a federal jail in Manhattan in August 2019 while he awaited trial on sex trafficking charges. The death was ruled a suicide.
Yahoo
9 minutes ago
- Yahoo
US-EU trade deal: Key takeaways from agreement struck by President Trump and Ursula von der Leyen
The EU and US have reached a tariff agreement that avoids a transatlantic trade war but still imposes a 15 percent American tariff on most imports from the bloc. The deal requires Europe to spend billions of dollars on US energy products and weapons, as well as a 15 percent tariff on most EU exports to the US includes cars. It was announced after a meeting on Sunday between European Commission President Ursula von der Leyen and US President Donald Trump at his Turnberry golf resort in Scotland. The Independent takes a look at the details of the agreement. Trump 'could change his mind even after the deal is signed' 'While the deal has avoided a much worse outcome for now, it remains to be seen whether it will last,' said Jack Allen-Reynolds, Deputy Chief Euro-zone Economist of Capital Economics, adding that Germany will be hit harder the most countries. 'The fine details of the deal may not yet have been agreed. And President Trump could still change his mind even after the deal has been finalised and signed.' Although the 15 percent tariff is only half of what Trump had threatened, the deal will still disappoint many European leaders who already criticised the UK's acceptance of 10 percent US tariffs in May as a poor outcome. Trump had previously warned that tariffs could rise to 30 per cent if no agreement was reached by August 1. 'Today's deal creates certainty in uncertain times . . . for citizens and businesses on both sides of the Atlantic,' von der Leyen said. While Chancellor Friedrich Merz welcomed the avoidance of a trade war, Wolfgang Niedermark, board member of the Federation of German Industries, called the agreement 'an inadequate compromise' with 'painful tariffs' likely to harm Germany's export-driven industry. What has been agreed by the EU and the US Almost all EU goods entering the US are subject to a 15 percent baseline tariff, including cars, semiconductors and pharmaceuticals. Tariffs on European steel and aluminium will stay at 50 percent. The EU has pledged $750 billion in strategic purchases, covering oil, gas, nuclear, fuel and chips during Trump's term. Brussels also agreed to invest $600bn, including buying military equipment, during his second term. There will be zero-for-zero tariffs on 'all aircraft and component parts, certain chemicals, certain generics, semiconductor equipment, certain agricultural products, natural resources and critical raw materials', von der Leyen said. What could change in the deal The steel and aluminium 50 percent rate could later replaced by a quota system, according to the EU Commission chief. More products could be added to the zero-for-zero tariffs. It remains unclear what tariffs European wine and spirits producers will be subject to in the US. Trump retains the ability to increase tariffs if European countries don't stick to their investment commitments, a senior US administration official told reporters in Washington on Sunday. Some tariffs could change after the US announces the result of its 232 trade investigation, which determines the impact of imports on national security, in two weeks.
Yahoo
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Brazil coffee growers wary of incoming Trump tariffs
VASSOURAS, Brazil (Reuters) -Coffee growers in Vassouras, in Brazil's Rio de Janeiro state, are hoping for an eleventh-hour reprieve before the country is subject to tariffs of 50% on its exports to the United States. Earlier this month, U.S. President Donald Trump announced new tariffs, which included raising duties on Brazilian imports to 50% from 10%, effective August 1. Producers of coffee and other goods hope a solution can be found before then. "Brazil is the largest producer and exporter (of coffee) in the world," coffee farmer Thiago Garcia told Reuters at his farm in Vassouras. Around a third of the coffee consumed in the U.S., the world's largest drinker of the beverage, comes from Brazil, which has in recent years been shipping about 8 million 60-kilogram bags (132 pounds) a year there, according to industry groups. "There will be a surplus of coffee here in Brazil and the tendency is for (the price) to decrease, until they find another way to export to other countries," Garcia said.