Latest news with #JeffMason
Daily Maverick
07-07-2025
- Business
- Daily Maverick
Trump unveils 25% tariffs on goods from Japan, South Korea in letters to leaders
12 more letters expected White House says Trump to sign executive order extending deadline New tariffs rates to go into effect on August 1 Stocks add to day's losses on tariff news Treasury secretary says inbox full of trade offers Trump and EU Commission chief also held call on Sunday Trump threatens BRICS countries with additional tariffs By Jeff Mason, Bart H. Meijer and Andrea Shalal 'If for any reason you decide to raise your Tariffs, then, whatever the number you choose to raise them by, will be added onto the 25% that we charge,' Trump said in letters to the leaders of the two Asian countries, which he posted on his Truth Social platform. Later, Trump also announced the U.S. will impose 25% tariffs on Malaysia and Kazakhstan, 30% on South Africa and 40% on Laos and Myanmar. The rate for South Korea is the same as Trump initially announced on April 2, while the rate for Japan is 1 point higher than first announced. A week later, he capped all of the so-called reciprocal tariffs at 10% until July 9 to allow for negotiations. Only two agreements have so far been reached, with Britain and Vietnam. There was no immediate response from the Japanese or South Korean embassies on the announcement. About12 countries will receive letters from Trump, White House spokeswoman Karoline Leavitt said at a briefing without identifying them. She said Trump would sign an executive order on Monday formally delaying the July 9 deadline to August 1. 'There will be additional letters in the coming days,' Leavitt said, adding that 'we are close' on some deals. The European Union will not be receiving a letter setting out higher tariffs, EU sources familiar with the matter told Reuters on Monday. U.S. stocks fell in response, the latest market ruction since Trump unleashed a global trade war on his return to office in January. His moves have repeatedly whipsawed financial markets and sent policymakers scrambling to protect their economies. U.S. stocks were driven to near bear-market territory by his cascade of tariff announcements through the early spring but quickly rebounded to record highs in the weeks after he put the stiffest levies on hold on April 9. The S&P 500 on Monday was down nearly 1%, its biggest drop in three weeks. U.S.-listed shares of Japanese automotive companies fell, with Toyota Motor down 4.1% at mid-afternoon trading and Honda Motor off by 3.8%. The dollar surged against both the Japanese yen and the South Korean won. U.S. Treasury Secretary Scott Bessent said earlier on Monday he expected several trade announcements to be made in the next 48 hours, adding that his inbox was full of last-ditch offers from countries to clinch a tariff deal by the deadline. Bessent did not say which countries could get deals and what they might contain. Trump has kept much of the world guessing on the outcome of months of talks with countries hoping to avoid the hefty tariff hikes he has threatened. Countries have scrambled to hammer out deals before the Wednesday deadline. South Korea and Indonesia dispatched representatives to Washington, while Thailand submitted a new trade proposal offering zero tariffs on many U.S. goods. 'We've had a lot of people change their tune in terms of negotiations. So my mailbox was full last night with a lot of new offers, a lot of new proposals,' Bessent said in an interview with CNBC. 'So it's going to be a busy couple of days.' BRICS THREAT For its part, the European Union still aims to reach a trade deal by July 9 after European Commission President Ursula von der Leyen and Trump had a 'good exchange,' a Commission spokesperson said. It was not clear, however, whether there had been a meaningful breakthrough in talks to stave off tariff hikes on the United States' largest trading partner. Adding to the pressure, Trump threatened to impose a 17% tariff on EU food and agriculture exports, it emerged last week. Trump had said on Sunday the U.S. was close to finalizing several trade pacts and would notify other countries by July 9 of higher tariff rates. He said they would not take effect until Aug. 1, a three-week reprieve. He also put members of the developing nations' BRICS group in his sights as its leaders met in Brazil, threatening an additional 10% tariff on any BRICS countries aligning themselves with 'anti-American' policies. The new 10% tariff will be imposed on individual countries if they take anti-American policy actions, a source familiar with the matter said. The BRICS group comprises Brazil, Russia, India and China and South Africa along with recent joiners Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates. Trump's comments hit the South African rand. EU SEEKS EFFECTIVE APPROACH TO TRUMP The EU has been torn over whether to push for a quick and light trade deal or back its own economic clout in trying to negotiate a better outcome. It had already dropped hopes for a comprehensive trade agreement before the July deadline. 'We want to reach a deal with the U.S. We want to avoid tariffs,' the spokesperson said at a daily briefing. Without a preliminary agreement, broad U.S. tariffs on most imports would rise from their current 10% to the rates set out by Trump on April 2. In the EU's case, that would be 20%. Von der Leyen also held talks with the leaders of Germany, France and Italy at the weekend, Germany said. Chancellor Friedrich Merz has repeatedly stressed the need for a quick deal to protect industries vulnerable to tariffs ranging from cars to pharmaceuticals. The German spokesperson said the parties should allow themselves 'another 24 or 48 hours to come to a decision.' Germany's Mercedes-Benz said on Monday its second-quarter unit sales of cars and vans had fallen 9%, blaming tariffs. Russia said BRICS was 'a group of countries that share common approaches and a common world view on how to cooperate, based on their own interests.' 'And this cooperation within BRICS has never been and will never be directed against any third countries,' said Kremlin spokesman Dmitry Peskov.
Hindustan Times
25-06-2025
- Business
- Hindustan Times
Trump says damage from Iran strikes severe despite "inconclusive" intelligence
By Jeff Mason, Bart H. Meijer and Gram Slattery Trump says damage from Iran strikes severe despite "inconclusive" intelligence THE HAGUE -U.S. President Donald Trump said on Wednesday that the damage to Iranian nuclear sites from American missile strikes over the weekend was severe, even as he acknowledged that the available intelligence on the matter was inconclusive. His comments followed reports by Reuters and other media outlets on Tuesday revealing that the U.S. Defense Intelligence Agency had assessed that the strikes had set back Iran's nuclear program by just a few months, despite administration officials saying the program had been obliterated. "The intelligence was ... very inconclusive," Trump told reporters while meeting with NATO Secretary General Mark Rutte ahead of a summit in The Hague. "The intelligence says, 'We don't know, it could have been very severe.' That's what the intelligence says. So I guess that's correct, but I think we can take the 'we don't know'. It was very severe. It was obliteration," Trump added. Later, during the same round of comments, Trump argued that Iran's nuclear deal had been set back "basically decades, because I don't think they'll ever do it again". Trump, who arrived in the Netherlands late on Tuesday for NATO's annual leaders' summit, was sitting beside Secretary of State Marco Rubio and Secretary of Defense Pete Hegseth, who both also cast doubt on the reliability of the DIA assessment. Rubio said the U.S. was opening an investigation into the leak of the DIA report. He also suggested the report's contents had been misrepresented in the media. At the summit, NATO member states are set to announce their joint intention to raise defense spending to 5% of gross domestic product. While some countries have suggested they may not in fact reach that threshold, the Trump administration has pointed to the expected commitment as a significant foreign policy victory. This article was generated from an automated news agency feed without modifications to text.
Yahoo
24-06-2025
- Politics
- Yahoo
Trump brokered ceasefire in call with Netanyahu while US team spoke to Iran
By Jeff Mason and Steve Holland WASHINGTON (Reuters) -President Donald Trump brokered a ceasefire between Israel and Iran through talks with Israeli Prime Minister Benjamin Netanyahu on Monday while his team, including Vice President JD Vance, held talks with Tehran, a senior White House official said. The official, providing details of the ceasefire on condition of anonymity, said Israel agreed to it so long as Iran does not launch fresh attacks. Iran signaled that no further attacks would take place, the official said. Vance, Secretary of State Marco Rubio and U.S. special envoy Steve Witkoff were involved in the direct and indirect communications with Iran, the official said. Trump said earlier on Monday that a "complete and total" ceasefire between Israel and Iran would go into force in the coming hours, moments after both sides threatened new attacks. Iran launched missiles against a U.S. air base, causing no casualties, after U.S. bombers dropped 30,000-pound bunker-busters on Iranian underground nuclear facilities over the weekend. The official said Trump called for talks with Israel and Iran soon after the U.S. strikes. "He directed his team on Saturday night: 'Let's get on the phone .. with the Iranians,'" the official said. "'Get me Bibi. We're going to make peace,'" the official said, quoting Trump. Trump's team had negotiated with Iran on five different occasions in the weeks leading up to the conflict but the talks broke down when Iran would not back away from its demand that it continue enriching uranium. Trump announced on Thursday that he would make a decision on American use of force "within two weeks," but by Saturday afternoon he had ordered the United States to bomb the Iranian facilities. Trump's unprecedented decision to bomb Iran's nuclear sites early on Sunday marked a step that he had long vowed to avoid - to intervene militarily in a major foreign war. Moving to join U.S. ally Israel in military strikes stirred up concern within his right-leaning "Make America Great Again" political base, which has clung to his promises to avoid foreign entanglements. A ceasefire, if it holds, may quiet that criticism and reinforce Trump's portrayal of himself as a peacemaker. The ceasefire emerged from a day of conversations that Trump conducted in the Oval Office. The president spoke directly to Netanyahu, who has been a proponent throughout the conflict of more U.S. military involvement. Trump has "shown restraint" and made clear he was keeping U.S. interests central to his goal, the official said.
Daily Maverick
24-06-2025
- Politics
- Daily Maverick
Trump brokered ceasefire in call with Netanyahu while US team spoke to Iran
By Jeff Mason and Steve Holland The official, providing details of the ceasefire on condition of anonymity, said Israel agreed to it so long as Iran does not launch fresh attacks. Iran signaled that no further attacks would take place, the official said. Vance, Secretary of State Marco Rubio and U.S. special envoy Steve Witkoff were involved in the direct and indirect communications with Iran, the official said. Trump said earlier on Monday that a ' complete and total' ceasefire between Israel and Iran would go into force in the coming hours, moments after both sides threatened new attacks. Iran launched missiles against a U.S. air base, causing no casualties, after U.S. bombers dropped 30,000-pound bunker-busters on Iranian underground nuclear facilities over the weekend. The official said Trump called for talks with Israel and Iran soon after the U.S. strikes. 'He directed his team on Saturday night: 'Let's get on the phone .. with the Iranians,'' the official said. ''Get me Bibi. We're going to make peace,'' the official said, quoting Trump. Trump's team had negotiated with Iran on five different occasions in the weeks leading up to the conflict but the talks broke down when Iran would not back away from its demand that it continue enriching uranium. Trump announced on Thursday that he would make a decision on American use of force 'within two weeks,' but by Saturday afternoon he had ordered the United States to bomb the Iranian facilities. Trump's unprecedented decision to bomb Iran's nuclear sites early on Sunday marked a step that he had long vowed to avoid – to intervene militarily in a major foreign war. Moving to join U.S. ally Israel in military strikes stirred up concern within his right-leaning 'Make America Great Again' political base, which has clung to his promises to avoid foreign entanglements. A ceasefire, if it holds, may quiet that criticism and reinforce Trump's portrayal of himself as a peacemaker. The ceasefire emerged from a day of conversations that Trump conducted in the Oval Office. The president spoke directly to Netanyahu, who has been a proponent throughout the conflict of more U.S. military involvement. Trump has 'shown restraint' and made clear he was keeping U.S. interests central to his goal, the official said.
Yahoo
19-06-2025
- Entertainment
- Yahoo
Donald Trump Replaced Hillary Clinton's Portrait With Some Questionable "Art" Of Himself
Donald Trump unveiled his extremely large American flag pole on Wednesday. There it is: He also unveiled some new wall art: Reuters White House correspondent Jeff Mason posted that Trump replaced a portrait of former first lady Hillary Clinton with this picture/meme of himself: Related: "Honestly Speechless At How Evil This Is": 26 Brutal, Brutal, Brutal Political Tweets Of The Week "That looks really good," this person said. I'm about 100% sure they were kidding lol. Another person compared it to something you'd buy at Spencer's Gifts. This person said it was like the "art" you buy at HomeGoods. Related: "Let Them Eat Teslas": People At The "No Kings" Protests This Weekend Brought Signs That Were So Clever I'm Still Laughing About Them And this person joked, "Cornier than my Italian grandma's velvet painting of a crying clown.' The comments don't stop there! This person asked: "They couldn't even go to Framebridge first?" Another person likened it to, "Your dorm when you and your roommate have different styles." And this person said, "They're putting Wildwood T-shirts up at the white house." Snooki's impact. Thoughts on the new art?! Also in In the News: This Conservative Said He Wears A Fake ICE Uniform For A Really, Really, Really Gross Reason Also in In the News: This Dem Lawmaker Is Going Viral For His Extremely Shady Question To Secretary Kristi Noem Also in In the News: MAGA Really, Really, Really, Really, Really, Really, Really Doesn't Like This Army Vet's Now-Viral Speech
