Trump seeks more concessions in EU trade deal talks
Trump said on Saturday he would impose a 30 per cent tariff on most imports from the EU and Mexico from August 1, adding to similar warnings for other countries and leaving them less than three weeks to hammer out framework deals that could lower the threatened tariff rate.
White House Economic Adviser Kevin Hassett said on Sunday that countries' trade deal offers so far have not satisfied Trump and "the tariffs are real" without improvements.
"The president thinks that deals need to be better," Hassett told US broadcaster ABC.
"And to basically put a line in the sand, he sent these letters out to folks, and we'll see how it works out."
Ursula von der Leyen, head of the EU's executive Commission which handles trade policy for the 27 member states, said the bloc would maintain its two-track approach: keep talking and prepare retaliatory measures.
"We have always been very clear that we prefer a negotiated solution. This remains the case, and we will use the time that we have now," von der Leyen told a press conference, adding that the bloc would extend its halt on countermeasures until August.
Von der Leyen's decision to resist immediate retaliatory measures points to the European Commission's desire to avoid a spiralling tit-for-tat escalation in the trade war while there remains a chance of negotiating an improved outcome.
German Chancellor Friedrich Merz on Sunday said he was "really committed" to finding a trade solution with the US, telling German public broadcaster ARD that he will work intensively on this with von der Leyen and French President Emmanuel Macron over the next two and a half weeks.
Asked about the effects of a 30 per cent US tariff on Germany, Merz said: "If that were to happen, we would have to postpone large parts of our economic policy efforts because it would interfere with everything and hit the German export industry to the core."
The latest salvo from Trump and the question of how to respond may test the unity of EU member states, with France appearing to take a tougher line than Germany, the bloc's industrial powerhouse whose economy leans heavily on exports.
Macron said the Commission needed more than ever to "assert the Union's determination to defend European interests resolutely," and that retaliation might need to include so-called anti-coercion instruments.
German Finance Minister Lars Klingbeil said on Sunday the EU should be ready to take firm action if talks failed.
"If a fair negotiated solution does not succeed, then we must take decisive countermeasures to protect jobs and companies in Europe," Klingbeil, also vice chancellor in the ruling coalition, told Sueddeutsche Zeitung newspaper.
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Envoy meets Zelenskiy as US pledges missiles to Ukraine
US President Donald Trump's special envoy to Ukraine and Russia has met Ukraine President Volodymyr Zelenskiy in Kyiv as anticipation grows over a possible shift in the Trump administration's policy on the three-year war. Zelenskiy said he and retired general Keith Kellogg had "a productive conversation" about strengthening Ukrainian air defences, joint arms production and purchasing US weapons in conjunction with European countries, as well as the possibility of tighter international sanctions on the Kremlin. "We hope for the leadership of the United States, because it is clear that Moscow will not stop unless its ... ambitions are stopped by force," Zelenskiy said on Telegram. Trump last week said he would make a "major statement" on Russia on Monday. Trump made quickly stopping the war one of his diplomatic priorities, and he has increasingly expressed frustration about Russian President Vladimir Putin's unbudging stance on US-led peace efforts. Trump has long boasted of his friendly relationship with Putin, and after taking office in January repeatedly said that Russia was more willing than Ukraine to reach a peace deal. At the same time, Trump accused Zelenskiy of prolonging the war and called him a "dictator without elections". But Russia's relentless onslaught against civilian areas of Ukraine wore down Trump's patience. "I am very disappointed with President Putin, I thought he was somebody that meant what he said," Trump said late on Sunday. "He'll talk so beautifully and then he'll bomb people at night. We don't like that." Russia has pounded Ukrainian cities with hundreds of drones and cruise and ballistic missiles that Ukraine's air defences are struggling to counter. June brought the highest monthly civilian casualties of the past three years, with 232 people killed and 1343 wounded, the UN human rights mission in Ukraine said. Russia launched 10 times more drones and missiles in June than in the same month in 2024, it said. At the same time, Russia's bigger army is making a new effort to drive back Ukrainian defenders on parts of the 1000km front line. Trump confirmed the US was sending Ukraine more badly needed Patriot air defence missiles and the European Union would pay the US for the "various pieces of very sophisticated" weaponry. While the EU is not allowed under its treaties to buy weapons, EU member countries can and are, just as NATO member countries are buying and sending weapons. A top ally of Trump, Republican senator Lindsey Graham, said Sunday that the conflict was nearing an inflection point as Trump shows growing interest in helping Ukraine fight back against Russia's full-scale invasion. It's a cause that Trump had previously dismissed as being a waste of US taxpayer money. "In the coming days, you'll see weapons flowing at a record level to help Ukraine defend themselves," Graham said on CBS's Face the Nation. He added: "And you just watch, in the coming days and weeks, there's going to be a massive effort to get Putin to the table." Kirill Dmitriev, Putin's envoy for international investment, dismissed what he said were efforts to drive a wedge between Moscow and Washington, adding attempts at pressure were "doomed to fail". NATO Secretary-General Mark Rutte was due in Washington on Monday and Tuesday for talks with Trump, Hegseth and Secretary of State Marco Rubio. The visits came as Russian troops conducted a combined aerial strike at Shostka, in the northern Sumy region of Ukraine, using glide bombs and drones early Monday morning, killing two people, the regional prosecutor's office said. The Russian defence ministry, meanwhile, said its air defences downed 11 Ukrainian drones over Russian regions on the border with Ukraine, as well as over the annexed Crimea and the Black Sea. US President Donald Trump's special envoy to Ukraine and Russia has met Ukraine President Volodymyr Zelenskiy in Kyiv as anticipation grows over a possible shift in the Trump administration's policy on the three-year war. Zelenskiy said he and retired general Keith Kellogg had "a productive conversation" about strengthening Ukrainian air defences, joint arms production and purchasing US weapons in conjunction with European countries, as well as the possibility of tighter international sanctions on the Kremlin. "We hope for the leadership of the United States, because it is clear that Moscow will not stop unless its ... ambitions are stopped by force," Zelenskiy said on Telegram. Trump last week said he would make a "major statement" on Russia on Monday. Trump made quickly stopping the war one of his diplomatic priorities, and he has increasingly expressed frustration about Russian President Vladimir Putin's unbudging stance on US-led peace efforts. Trump has long boasted of his friendly relationship with Putin, and after taking office in January repeatedly said that Russia was more willing than Ukraine to reach a peace deal. At the same time, Trump accused Zelenskiy of prolonging the war and called him a "dictator without elections". But Russia's relentless onslaught against civilian areas of Ukraine wore down Trump's patience. "I am very disappointed with President Putin, I thought he was somebody that meant what he said," Trump said late on Sunday. "He'll talk so beautifully and then he'll bomb people at night. We don't like that." Russia has pounded Ukrainian cities with hundreds of drones and cruise and ballistic missiles that Ukraine's air defences are struggling to counter. June brought the highest monthly civilian casualties of the past three years, with 232 people killed and 1343 wounded, the UN human rights mission in Ukraine said. Russia launched 10 times more drones and missiles in June than in the same month in 2024, it said. At the same time, Russia's bigger army is making a new effort to drive back Ukrainian defenders on parts of the 1000km front line. Trump confirmed the US was sending Ukraine more badly needed Patriot air defence missiles and the European Union would pay the US for the "various pieces of very sophisticated" weaponry. While the EU is not allowed under its treaties to buy weapons, EU member countries can and are, just as NATO member countries are buying and sending weapons. A top ally of Trump, Republican senator Lindsey Graham, said Sunday that the conflict was nearing an inflection point as Trump shows growing interest in helping Ukraine fight back against Russia's full-scale invasion. It's a cause that Trump had previously dismissed as being a waste of US taxpayer money. "In the coming days, you'll see weapons flowing at a record level to help Ukraine defend themselves," Graham said on CBS's Face the Nation. He added: "And you just watch, in the coming days and weeks, there's going to be a massive effort to get Putin to the table." Kirill Dmitriev, Putin's envoy for international investment, dismissed what he said were efforts to drive a wedge between Moscow and Washington, adding attempts at pressure were "doomed to fail". NATO Secretary-General Mark Rutte was due in Washington on Monday and Tuesday for talks with Trump, Hegseth and Secretary of State Marco Rubio. The visits came as Russian troops conducted a combined aerial strike at Shostka, in the northern Sumy region of Ukraine, using glide bombs and drones early Monday morning, killing two people, the regional prosecutor's office said. The Russian defence ministry, meanwhile, said its air defences downed 11 Ukrainian drones over Russian regions on the border with Ukraine, as well as over the annexed Crimea and the Black Sea. US President Donald Trump's special envoy to Ukraine and Russia has met Ukraine President Volodymyr Zelenskiy in Kyiv as anticipation grows over a possible shift in the Trump administration's policy on the three-year war. Zelenskiy said he and retired general Keith Kellogg had "a productive conversation" about strengthening Ukrainian air defences, joint arms production and purchasing US weapons in conjunction with European countries, as well as the possibility of tighter international sanctions on the Kremlin. "We hope for the leadership of the United States, because it is clear that Moscow will not stop unless its ... ambitions are stopped by force," Zelenskiy said on Telegram. Trump last week said he would make a "major statement" on Russia on Monday. Trump made quickly stopping the war one of his diplomatic priorities, and he has increasingly expressed frustration about Russian President Vladimir Putin's unbudging stance on US-led peace efforts. Trump has long boasted of his friendly relationship with Putin, and after taking office in January repeatedly said that Russia was more willing than Ukraine to reach a peace deal. At the same time, Trump accused Zelenskiy of prolonging the war and called him a "dictator without elections". But Russia's relentless onslaught against civilian areas of Ukraine wore down Trump's patience. "I am very disappointed with President Putin, I thought he was somebody that meant what he said," Trump said late on Sunday. "He'll talk so beautifully and then he'll bomb people at night. We don't like that." Russia has pounded Ukrainian cities with hundreds of drones and cruise and ballistic missiles that Ukraine's air defences are struggling to counter. June brought the highest monthly civilian casualties of the past three years, with 232 people killed and 1343 wounded, the UN human rights mission in Ukraine said. Russia launched 10 times more drones and missiles in June than in the same month in 2024, it said. At the same time, Russia's bigger army is making a new effort to drive back Ukrainian defenders on parts of the 1000km front line. Trump confirmed the US was sending Ukraine more badly needed Patriot air defence missiles and the European Union would pay the US for the "various pieces of very sophisticated" weaponry. While the EU is not allowed under its treaties to buy weapons, EU member countries can and are, just as NATO member countries are buying and sending weapons. A top ally of Trump, Republican senator Lindsey Graham, said Sunday that the conflict was nearing an inflection point as Trump shows growing interest in helping Ukraine fight back against Russia's full-scale invasion. It's a cause that Trump had previously dismissed as being a waste of US taxpayer money. "In the coming days, you'll see weapons flowing at a record level to help Ukraine defend themselves," Graham said on CBS's Face the Nation. He added: "And you just watch, in the coming days and weeks, there's going to be a massive effort to get Putin to the table." Kirill Dmitriev, Putin's envoy for international investment, dismissed what he said were efforts to drive a wedge between Moscow and Washington, adding attempts at pressure were "doomed to fail". NATO Secretary-General Mark Rutte was due in Washington on Monday and Tuesday for talks with Trump, Hegseth and Secretary of State Marco Rubio. The visits came as Russian troops conducted a combined aerial strike at Shostka, in the northern Sumy region of Ukraine, using glide bombs and drones early Monday morning, killing two people, the regional prosecutor's office said. The Russian defence ministry, meanwhile, said its air defences downed 11 Ukrainian drones over Russian regions on the border with Ukraine, as well as over the annexed Crimea and the Black Sea. US President Donald Trump's special envoy to Ukraine and Russia has met Ukraine President Volodymyr Zelenskiy in Kyiv as anticipation grows over a possible shift in the Trump administration's policy on the three-year war. Zelenskiy said he and retired general Keith Kellogg had "a productive conversation" about strengthening Ukrainian air defences, joint arms production and purchasing US weapons in conjunction with European countries, as well as the possibility of tighter international sanctions on the Kremlin. "We hope for the leadership of the United States, because it is clear that Moscow will not stop unless its ... ambitions are stopped by force," Zelenskiy said on Telegram. Trump last week said he would make a "major statement" on Russia on Monday. Trump made quickly stopping the war one of his diplomatic priorities, and he has increasingly expressed frustration about Russian President Vladimir Putin's unbudging stance on US-led peace efforts. Trump has long boasted of his friendly relationship with Putin, and after taking office in January repeatedly said that Russia was more willing than Ukraine to reach a peace deal. At the same time, Trump accused Zelenskiy of prolonging the war and called him a "dictator without elections". But Russia's relentless onslaught against civilian areas of Ukraine wore down Trump's patience. "I am very disappointed with President Putin, I thought he was somebody that meant what he said," Trump said late on Sunday. "He'll talk so beautifully and then he'll bomb people at night. We don't like that." Russia has pounded Ukrainian cities with hundreds of drones and cruise and ballistic missiles that Ukraine's air defences are struggling to counter. June brought the highest monthly civilian casualties of the past three years, with 232 people killed and 1343 wounded, the UN human rights mission in Ukraine said. Russia launched 10 times more drones and missiles in June than in the same month in 2024, it said. At the same time, Russia's bigger army is making a new effort to drive back Ukrainian defenders on parts of the 1000km front line. Trump confirmed the US was sending Ukraine more badly needed Patriot air defence missiles and the European Union would pay the US for the "various pieces of very sophisticated" weaponry. While the EU is not allowed under its treaties to buy weapons, EU member countries can and are, just as NATO member countries are buying and sending weapons. A top ally of Trump, Republican senator Lindsey Graham, said Sunday that the conflict was nearing an inflection point as Trump shows growing interest in helping Ukraine fight back against Russia's full-scale invasion. It's a cause that Trump had previously dismissed as being a waste of US taxpayer money. "In the coming days, you'll see weapons flowing at a record level to help Ukraine defend themselves," Graham said on CBS's Face the Nation. He added: "And you just watch, in the coming days and weeks, there's going to be a massive effort to get Putin to the table." Kirill Dmitriev, Putin's envoy for international investment, dismissed what he said were efforts to drive a wedge between Moscow and Washington, adding attempts at pressure were "doomed to fail". NATO Secretary-General Mark Rutte was due in Washington on Monday and Tuesday for talks with Trump, Hegseth and Secretary of State Marco Rubio. The visits came as Russian troops conducted a combined aerial strike at Shostka, in the northern Sumy region of Ukraine, using glide bombs and drones early Monday morning, killing two people, the regional prosecutor's office said. The Russian defence ministry, meanwhile, said its air defences downed 11 Ukrainian drones over Russian regions on the border with Ukraine, as well as over the annexed Crimea and the Black Sea.
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4 hours ago
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Trump envoy in Kyiv as US pledges missiles to Ukraine
US President Donald Trump's special envoy to Ukraine and Russia, retired general Keith Kellogg, has arrived in Kyiv as anticipation grows over a possible shift in the Trump administration's policy on the more than three-year war. Trump last week teased that he would make a "major statement" on Russia on Monday. Trump made quickly stopping the war one of his diplomatic priorities, and he has increasingly expressed frustration about Russian President Vladimir Putin's unbudging stance on US-led peace efforts. Putin "talks nice and then he bombs everybody", Trump said late on Sunday as he confirmed the US was sending Ukraine badly needed US-made Patriot air defence missiles to help it fend off Russia's intensifying aerial attacks. Russia has spread terror in Ukrainian cities, including the capital, Kyiv, with hundreds of drones and cruise and ballistic missiles that Ukraine's air defences are struggling to counter. June brought the highest monthly civilian casualties of the past three years, with 232 people killed and 1343 wounded, the UN human rights mission in Ukraine said on Thursday. Russia launched 10 times more drones and missiles in June than in the same month in 2024, it said. That has happened at the same time as Russia's bigger army is making a new effort to drive back Ukrainian defenders on parts of the 1000km front line. A top ally of Trump, Republican senator Lindsey Graham, said on Sunday that the conflict was nearing an inflection point as Trump showed growing interest in helping Ukraine fight back against Russia's full-scale invasion. It's a cause that Trump had previously dismissed as being a waste of US taxpayer money. "In the coming days, you'll see weapons flowing at a record level to help Ukraine defend themselves," Graham said on CBS's Face the Nation. "One of the biggest miscalculations (Russian President Vladimir) Putin has made is to play Trump. And you just watch, in the coming days and weeks, there's going to be a massive effort to get Putin to the table." Also, NATO Secretary-General Mark Rutte was due in Washington on Monday and Tuesday for talks with Trump, Secretary of State Marco Rubio and Defense Secretary Pete Hegseth, as well as members of Congress. Talks during Kellogg's visit to Kyiv will cover "defence, strengthening security, weapons, sanctions, protection of our people and enhancing cooperation between Ukraine and the United States", said the head of Ukraine's presidential office, Andrii Yermak. "Russia does not want a ceasefire. Peace through strength is President Donald Trump's principle, and we support this approach," Yermak said. Russian troops conducted a combined aerial strike at Shostka, in the northern Sumy region of Ukraine, using glide bombs and drones early Monday morning, killing two people, the regional prosecutor's office said. Four others were injured, including a seven-year-old, it said. Overnight from Sunday to Monday, Russia fired four S-300/400 missiles and 136 Shahed and decoy drones at Ukraine, the air force said. It said that 61 drones were intercepted and 47 more were either jammed or lost from radars mid-flight. The Russian defence ministry, meanwhile, said its air defences downed 11 Ukrainian drones over Russian regions on the border with Ukraine, as well as over the annexed Crimea and the Black Sea. US President Donald Trump's special envoy to Ukraine and Russia, retired general Keith Kellogg, has arrived in Kyiv as anticipation grows over a possible shift in the Trump administration's policy on the more than three-year war. Trump last week teased that he would make a "major statement" on Russia on Monday. Trump made quickly stopping the war one of his diplomatic priorities, and he has increasingly expressed frustration about Russian President Vladimir Putin's unbudging stance on US-led peace efforts. Putin "talks nice and then he bombs everybody", Trump said late on Sunday as he confirmed the US was sending Ukraine badly needed US-made Patriot air defence missiles to help it fend off Russia's intensifying aerial attacks. Russia has spread terror in Ukrainian cities, including the capital, Kyiv, with hundreds of drones and cruise and ballistic missiles that Ukraine's air defences are struggling to counter. June brought the highest monthly civilian casualties of the past three years, with 232 people killed and 1343 wounded, the UN human rights mission in Ukraine said on Thursday. Russia launched 10 times more drones and missiles in June than in the same month in 2024, it said. That has happened at the same time as Russia's bigger army is making a new effort to drive back Ukrainian defenders on parts of the 1000km front line. A top ally of Trump, Republican senator Lindsey Graham, said on Sunday that the conflict was nearing an inflection point as Trump showed growing interest in helping Ukraine fight back against Russia's full-scale invasion. It's a cause that Trump had previously dismissed as being a waste of US taxpayer money. "In the coming days, you'll see weapons flowing at a record level to help Ukraine defend themselves," Graham said on CBS's Face the Nation. "One of the biggest miscalculations (Russian President Vladimir) Putin has made is to play Trump. And you just watch, in the coming days and weeks, there's going to be a massive effort to get Putin to the table." Also, NATO Secretary-General Mark Rutte was due in Washington on Monday and Tuesday for talks with Trump, Secretary of State Marco Rubio and Defense Secretary Pete Hegseth, as well as members of Congress. Talks during Kellogg's visit to Kyiv will cover "defence, strengthening security, weapons, sanctions, protection of our people and enhancing cooperation between Ukraine and the United States", said the head of Ukraine's presidential office, Andrii Yermak. "Russia does not want a ceasefire. Peace through strength is President Donald Trump's principle, and we support this approach," Yermak said. Russian troops conducted a combined aerial strike at Shostka, in the northern Sumy region of Ukraine, using glide bombs and drones early Monday morning, killing two people, the regional prosecutor's office said. Four others were injured, including a seven-year-old, it said. Overnight from Sunday to Monday, Russia fired four S-300/400 missiles and 136 Shahed and decoy drones at Ukraine, the air force said. It said that 61 drones were intercepted and 47 more were either jammed or lost from radars mid-flight. The Russian defence ministry, meanwhile, said its air defences downed 11 Ukrainian drones over Russian regions on the border with Ukraine, as well as over the annexed Crimea and the Black Sea. US President Donald Trump's special envoy to Ukraine and Russia, retired general Keith Kellogg, has arrived in Kyiv as anticipation grows over a possible shift in the Trump administration's policy on the more than three-year war. Trump last week teased that he would make a "major statement" on Russia on Monday. Trump made quickly stopping the war one of his diplomatic priorities, and he has increasingly expressed frustration about Russian President Vladimir Putin's unbudging stance on US-led peace efforts. Putin "talks nice and then he bombs everybody", Trump said late on Sunday as he confirmed the US was sending Ukraine badly needed US-made Patriot air defence missiles to help it fend off Russia's intensifying aerial attacks. Russia has spread terror in Ukrainian cities, including the capital, Kyiv, with hundreds of drones and cruise and ballistic missiles that Ukraine's air defences are struggling to counter. June brought the highest monthly civilian casualties of the past three years, with 232 people killed and 1343 wounded, the UN human rights mission in Ukraine said on Thursday. Russia launched 10 times more drones and missiles in June than in the same month in 2024, it said. That has happened at the same time as Russia's bigger army is making a new effort to drive back Ukrainian defenders on parts of the 1000km front line. A top ally of Trump, Republican senator Lindsey Graham, said on Sunday that the conflict was nearing an inflection point as Trump showed growing interest in helping Ukraine fight back against Russia's full-scale invasion. It's a cause that Trump had previously dismissed as being a waste of US taxpayer money. "In the coming days, you'll see weapons flowing at a record level to help Ukraine defend themselves," Graham said on CBS's Face the Nation. "One of the biggest miscalculations (Russian President Vladimir) Putin has made is to play Trump. And you just watch, in the coming days and weeks, there's going to be a massive effort to get Putin to the table." Also, NATO Secretary-General Mark Rutte was due in Washington on Monday and Tuesday for talks with Trump, Secretary of State Marco Rubio and Defense Secretary Pete Hegseth, as well as members of Congress. Talks during Kellogg's visit to Kyiv will cover "defence, strengthening security, weapons, sanctions, protection of our people and enhancing cooperation between Ukraine and the United States", said the head of Ukraine's presidential office, Andrii Yermak. "Russia does not want a ceasefire. Peace through strength is President Donald Trump's principle, and we support this approach," Yermak said. Russian troops conducted a combined aerial strike at Shostka, in the northern Sumy region of Ukraine, using glide bombs and drones early Monday morning, killing two people, the regional prosecutor's office said. Four others were injured, including a seven-year-old, it said. Overnight from Sunday to Monday, Russia fired four S-300/400 missiles and 136 Shahed and decoy drones at Ukraine, the air force said. It said that 61 drones were intercepted and 47 more were either jammed or lost from radars mid-flight. The Russian defence ministry, meanwhile, said its air defences downed 11 Ukrainian drones over Russian regions on the border with Ukraine, as well as over the annexed Crimea and the Black Sea. US President Donald Trump's special envoy to Ukraine and Russia, retired general Keith Kellogg, has arrived in Kyiv as anticipation grows over a possible shift in the Trump administration's policy on the more than three-year war. Trump last week teased that he would make a "major statement" on Russia on Monday. Trump made quickly stopping the war one of his diplomatic priorities, and he has increasingly expressed frustration about Russian President Vladimir Putin's unbudging stance on US-led peace efforts. Putin "talks nice and then he bombs everybody", Trump said late on Sunday as he confirmed the US was sending Ukraine badly needed US-made Patriot air defence missiles to help it fend off Russia's intensifying aerial attacks. Russia has spread terror in Ukrainian cities, including the capital, Kyiv, with hundreds of drones and cruise and ballistic missiles that Ukraine's air defences are struggling to counter. June brought the highest monthly civilian casualties of the past three years, with 232 people killed and 1343 wounded, the UN human rights mission in Ukraine said on Thursday. Russia launched 10 times more drones and missiles in June than in the same month in 2024, it said. That has happened at the same time as Russia's bigger army is making a new effort to drive back Ukrainian defenders on parts of the 1000km front line. A top ally of Trump, Republican senator Lindsey Graham, said on Sunday that the conflict was nearing an inflection point as Trump showed growing interest in helping Ukraine fight back against Russia's full-scale invasion. It's a cause that Trump had previously dismissed as being a waste of US taxpayer money. "In the coming days, you'll see weapons flowing at a record level to help Ukraine defend themselves," Graham said on CBS's Face the Nation. "One of the biggest miscalculations (Russian President Vladimir) Putin has made is to play Trump. And you just watch, in the coming days and weeks, there's going to be a massive effort to get Putin to the table." Also, NATO Secretary-General Mark Rutte was due in Washington on Monday and Tuesday for talks with Trump, Secretary of State Marco Rubio and Defense Secretary Pete Hegseth, as well as members of Congress. Talks during Kellogg's visit to Kyiv will cover "defence, strengthening security, weapons, sanctions, protection of our people and enhancing cooperation between Ukraine and the United States", said the head of Ukraine's presidential office, Andrii Yermak. "Russia does not want a ceasefire. Peace through strength is President Donald Trump's principle, and we support this approach," Yermak said. Russian troops conducted a combined aerial strike at Shostka, in the northern Sumy region of Ukraine, using glide bombs and drones early Monday morning, killing two people, the regional prosecutor's office said. Four others were injured, including a seven-year-old, it said. Overnight from Sunday to Monday, Russia fired four S-300/400 missiles and 136 Shahed and decoy drones at Ukraine, the air force said. It said that 61 drones were intercepted and 47 more were either jammed or lost from radars mid-flight. The Russian defence ministry, meanwhile, said its air defences downed 11 Ukrainian drones over Russian regions on the border with Ukraine, as well as over the annexed Crimea and the Black Sea.
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4 hours ago
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World stocks slip as US tariff threats heat up
World shares are ticking lower, with European shares slipping as the latest salvo of threats in the US President Donald Trump's tariff wars keep investors on edge. The pan-European STOXX 600 index was last down 0.3 per cent in morning trade on Monday. Other regional indices also declined, barring the UK's FTSE 100, which was up 0.4 per cent. MSCI's broadest index of world shares dipped 0.1 per cent. Trump on Saturday said he would impose a 30 per cent tariff on most imports from the European Union and Mexico from August 1, even as they are locked in long negotiations. The EU said it would extend a suspension of countermeasures to US tariffs until early August and continue to press for a negotiated settlement, though Germany's finance minister called for firm action if the levies went ahead. German 10-year government bond yields briefly hit their highest since early April on Monday after settling back to 4.63 per cent. Yields move inversely to price. "To use the biggest cliche in the book, it continues to be a rollercoaster ride for all of us following the trade story, even if the market has increasingly overcome its queasiness and ensured it has been well stocked up on motion sickness tablets," said Deutsche Bank strategist Jim Reid in a note to clients. A rise in Japanese government bond yields also added to upward pressure on borrowing costs elsewhere, said Jens Peter Soerensen, chief analyst at Danske Bank. Japanese bond yields surged as concerns grew that an upcoming election could pave the way for increased fiscal spending. Chinese blue chips closed 0.1 per cent higher as data showed annual export growth topped forecasts at 5.8 per cent in June, even as exports to the US fell almost 10 per cent. Retail sales figures, industrial output and gross domestic product are due Tuesday. S&P 500 futures and Nasdaq futures both eased 0.4 per cent. Earnings season kicks off this week with the major banks leading the pack on Tuesday. In bond markets, Treasuries got a very marginal safety bid and 10-year yields held at 4.41 per cent. US consumer prices data for June are due on Tuesday and could finally start to show early upward pressure from tariffs, though retailers still have pre-levy inventory to draw on and some companies are absorbing the costs into margins. The impact on supply chain costs could show in producer price and import price figures this week, while a reading on retail sales will indicate how consumers are faring. Among currencies, the euro dipped 0.1 per cent to $US1.1684, edging away from its recent four-year top of $US1.1830. The dollar lost 0.1 per cent on the yen to 147.29 while the dollar index was little changed about 97.89. Bitcoin crossed the $US120,000 level for the first time to reach a top around $US123,153. Gold picked up a modest safe-haven bid and rose 0.1 per cent to $US3,359 an ounce. Oil prices rose more than one per cent on speculation Trump could announce stiffer sanctions on Russia later on Monday, including levies on major customers buying Russian oil. Brent jumped 67 cents to $US71.03 a barrel, while US crude added 70 cents to $US69.15 per barrel. World shares are ticking lower, with European shares slipping as the latest salvo of threats in the US President Donald Trump's tariff wars keep investors on edge. The pan-European STOXX 600 index was last down 0.3 per cent in morning trade on Monday. Other regional indices also declined, barring the UK's FTSE 100, which was up 0.4 per cent. MSCI's broadest index of world shares dipped 0.1 per cent. Trump on Saturday said he would impose a 30 per cent tariff on most imports from the European Union and Mexico from August 1, even as they are locked in long negotiations. The EU said it would extend a suspension of countermeasures to US tariffs until early August and continue to press for a negotiated settlement, though Germany's finance minister called for firm action if the levies went ahead. German 10-year government bond yields briefly hit their highest since early April on Monday after settling back to 4.63 per cent. Yields move inversely to price. "To use the biggest cliche in the book, it continues to be a rollercoaster ride for all of us following the trade story, even if the market has increasingly overcome its queasiness and ensured it has been well stocked up on motion sickness tablets," said Deutsche Bank strategist Jim Reid in a note to clients. A rise in Japanese government bond yields also added to upward pressure on borrowing costs elsewhere, said Jens Peter Soerensen, chief analyst at Danske Bank. Japanese bond yields surged as concerns grew that an upcoming election could pave the way for increased fiscal spending. Chinese blue chips closed 0.1 per cent higher as data showed annual export growth topped forecasts at 5.8 per cent in June, even as exports to the US fell almost 10 per cent. Retail sales figures, industrial output and gross domestic product are due Tuesday. S&P 500 futures and Nasdaq futures both eased 0.4 per cent. Earnings season kicks off this week with the major banks leading the pack on Tuesday. In bond markets, Treasuries got a very marginal safety bid and 10-year yields held at 4.41 per cent. US consumer prices data for June are due on Tuesday and could finally start to show early upward pressure from tariffs, though retailers still have pre-levy inventory to draw on and some companies are absorbing the costs into margins. The impact on supply chain costs could show in producer price and import price figures this week, while a reading on retail sales will indicate how consumers are faring. Among currencies, the euro dipped 0.1 per cent to $US1.1684, edging away from its recent four-year top of $US1.1830. The dollar lost 0.1 per cent on the yen to 147.29 while the dollar index was little changed about 97.89. Bitcoin crossed the $US120,000 level for the first time to reach a top around $US123,153. Gold picked up a modest safe-haven bid and rose 0.1 per cent to $US3,359 an ounce. Oil prices rose more than one per cent on speculation Trump could announce stiffer sanctions on Russia later on Monday, including levies on major customers buying Russian oil. Brent jumped 67 cents to $US71.03 a barrel, while US crude added 70 cents to $US69.15 per barrel. World shares are ticking lower, with European shares slipping as the latest salvo of threats in the US President Donald Trump's tariff wars keep investors on edge. The pan-European STOXX 600 index was last down 0.3 per cent in morning trade on Monday. Other regional indices also declined, barring the UK's FTSE 100, which was up 0.4 per cent. MSCI's broadest index of world shares dipped 0.1 per cent. Trump on Saturday said he would impose a 30 per cent tariff on most imports from the European Union and Mexico from August 1, even as they are locked in long negotiations. The EU said it would extend a suspension of countermeasures to US tariffs until early August and continue to press for a negotiated settlement, though Germany's finance minister called for firm action if the levies went ahead. German 10-year government bond yields briefly hit their highest since early April on Monday after settling back to 4.63 per cent. Yields move inversely to price. "To use the biggest cliche in the book, it continues to be a rollercoaster ride for all of us following the trade story, even if the market has increasingly overcome its queasiness and ensured it has been well stocked up on motion sickness tablets," said Deutsche Bank strategist Jim Reid in a note to clients. A rise in Japanese government bond yields also added to upward pressure on borrowing costs elsewhere, said Jens Peter Soerensen, chief analyst at Danske Bank. Japanese bond yields surged as concerns grew that an upcoming election could pave the way for increased fiscal spending. Chinese blue chips closed 0.1 per cent higher as data showed annual export growth topped forecasts at 5.8 per cent in June, even as exports to the US fell almost 10 per cent. Retail sales figures, industrial output and gross domestic product are due Tuesday. S&P 500 futures and Nasdaq futures both eased 0.4 per cent. Earnings season kicks off this week with the major banks leading the pack on Tuesday. In bond markets, Treasuries got a very marginal safety bid and 10-year yields held at 4.41 per cent. US consumer prices data for June are due on Tuesday and could finally start to show early upward pressure from tariffs, though retailers still have pre-levy inventory to draw on and some companies are absorbing the costs into margins. The impact on supply chain costs could show in producer price and import price figures this week, while a reading on retail sales will indicate how consumers are faring. Among currencies, the euro dipped 0.1 per cent to $US1.1684, edging away from its recent four-year top of $US1.1830. The dollar lost 0.1 per cent on the yen to 147.29 while the dollar index was little changed about 97.89. Bitcoin crossed the $US120,000 level for the first time to reach a top around $US123,153. Gold picked up a modest safe-haven bid and rose 0.1 per cent to $US3,359 an ounce. Oil prices rose more than one per cent on speculation Trump could announce stiffer sanctions on Russia later on Monday, including levies on major customers buying Russian oil. Brent jumped 67 cents to $US71.03 a barrel, while US crude added 70 cents to $US69.15 per barrel. World shares are ticking lower, with European shares slipping as the latest salvo of threats in the US President Donald Trump's tariff wars keep investors on edge. The pan-European STOXX 600 index was last down 0.3 per cent in morning trade on Monday. Other regional indices also declined, barring the UK's FTSE 100, which was up 0.4 per cent. MSCI's broadest index of world shares dipped 0.1 per cent. Trump on Saturday said he would impose a 30 per cent tariff on most imports from the European Union and Mexico from August 1, even as they are locked in long negotiations. The EU said it would extend a suspension of countermeasures to US tariffs until early August and continue to press for a negotiated settlement, though Germany's finance minister called for firm action if the levies went ahead. German 10-year government bond yields briefly hit their highest since early April on Monday after settling back to 4.63 per cent. Yields move inversely to price. "To use the biggest cliche in the book, it continues to be a rollercoaster ride for all of us following the trade story, even if the market has increasingly overcome its queasiness and ensured it has been well stocked up on motion sickness tablets," said Deutsche Bank strategist Jim Reid in a note to clients. A rise in Japanese government bond yields also added to upward pressure on borrowing costs elsewhere, said Jens Peter Soerensen, chief analyst at Danske Bank. Japanese bond yields surged as concerns grew that an upcoming election could pave the way for increased fiscal spending. Chinese blue chips closed 0.1 per cent higher as data showed annual export growth topped forecasts at 5.8 per cent in June, even as exports to the US fell almost 10 per cent. Retail sales figures, industrial output and gross domestic product are due Tuesday. S&P 500 futures and Nasdaq futures both eased 0.4 per cent. Earnings season kicks off this week with the major banks leading the pack on Tuesday. In bond markets, Treasuries got a very marginal safety bid and 10-year yields held at 4.41 per cent. US consumer prices data for June are due on Tuesday and could finally start to show early upward pressure from tariffs, though retailers still have pre-levy inventory to draw on and some companies are absorbing the costs into margins. The impact on supply chain costs could show in producer price and import price figures this week, while a reading on retail sales will indicate how consumers are faring. Among currencies, the euro dipped 0.1 per cent to $US1.1684, edging away from its recent four-year top of $US1.1830. The dollar lost 0.1 per cent on the yen to 147.29 while the dollar index was little changed about 97.89. Bitcoin crossed the $US120,000 level for the first time to reach a top around $US123,153. Gold picked up a modest safe-haven bid and rose 0.1 per cent to $US3,359 an ounce. Oil prices rose more than one per cent on speculation Trump could announce stiffer sanctions on Russia later on Monday, including levies on major customers buying Russian oil. Brent jumped 67 cents to $US71.03 a barrel, while US crude added 70 cents to $US69.15 per barrel.
