Latest news with #Liberation Day
Sky News
4 days ago
- Business
- Sky News
Trump to 'refine trade deal' with UK during Scotland trip
Donald Trump has said he will "refine the trade deal" with the UK during his private trip to Scotland later this month. The US president told reporters outside the White House on Tuesday that he will meet with Sir Keir Starmer "probably in Aberdeen". Mr Trump is expected to travel to Scotland in the coming weeks to visit his golf courses ahead of an official state visit in September. "We're going to be meeting with the British prime minister, very respectful, and we are going to have a meeting with him, probably in Aberdeen, and we're going to do a lot of different things. "We're going to also refine the trade deal that we've made. "So we'll be meeting mostly [...] at probably one of my properties, or maybe not, depending on what happens, but we'll be in Aberdeen, in Scotland, meeting with the prime minister." The UK and US signed a trade deal earlier this year that reduced car and aerospace tariffs, but questions have remained about a promise from Washington to slash steel tariffs. In May, the White House said it would exempt the UK from plans for a 25% tariff on global steel imports but that is yet to be ratified and the levy has since been doubled on all other countries. Mr Trump had insisted that unless Britain could finalise the details of a metals trade deal with the US by 9 July, when wider "Liberation Day" tariff pauses were expected to expire, he would slap the UK with a 50% rate as well. 2:49 However that pause was extended until 1 August, with the US president saying nations would instead get letters informing them of his plans. As Sky News' economics and data editor Ed Conway has reported, the metals deal has floundered on two key issues, including that while the government has taken control of British Steel, the company itself still legally has Chinese owners. Downing Street is still hoping it can secure 0% tariffs on steel. 👉 Follow Trump100 on your podcast app 👈 On Tuesday, a Downing Street spokesperson played down the significance of the meeting in Scotland, stressing it was a private trip so it "will not be a formal bilateral". Since taking office in January, Mr Trump has imposed tariffs on countries across the world in a bid to boost domestic production and address trade deficits. As well as sector specific tariffs, there is a baseline tariff of 10% for most other imports, though some countries face higher rates. The UK was the first to hash out a deal on exemptions after a successful charm offensive by Sir Keir. Mr Trump has praised the PM, telling the BBC earlier on Tuesday: "I really like the prime minister a lot, even though he's a liberal." There are also plans for Scottish First Minister John Swinney to meet Mr Trump during his trip. It will be followed by the official state visit between 17-19 September, when Mr Trump will be hosted by the King and Queen at Windsor Castle and accompanied by his wife Melania.
Yahoo
5 days ago
- Business
- Yahoo
To Whom it May Concern: Trump's tariff letters cause a stir among world leaders
Ninety trade deals in 90 days didn't happen early in President Donald Trump's second term. 'Liberation Day' panicked the financial markets in April. And bespoke trade agreements with dozens of countries, he has said, takes too much time. 'There's 200 countries,'' the president acknowledged. 'You can't talk to all of them.'' So Trump repackaged his plan to slap tariffs on almost every nation in a series of unusual presidential letters to foreign leaders that set new thresholds not just for trade negotiations — but also for diplomatic style, tone and delivery. Most are fill-in-the-blank form letters that include leaders' names and a tariff rate. Words are capitalized using Trump's distinct social media style. A few typos and formatting issues appear throughout. They generally include an opening flourish of salutation, a grievance, the threat of a big jump in tariffs, a new deadline and an escape ramp allowing that 'we will, perhaps, consider an adjustment to this letter' if certain conditions are met. Rather than typical diplomatic talk of things like enduring mutual respect, Trump closes with, 'Thank you for your attention to this matter!' and 'Best wishes,' followed by his signature of three long strokes linked by and about 14 short ones. He appears to have paid special attention to his letters to Canada, with which he's been fighting and taunting for months, and Brazil, which he singled out for 50% tariffs apparently based on a personal grudge rather than economics. A negotiation tactic The good news for the leaders of foreign countries, Trump suggested, is that if he sent you a letter, he wants to negotiate. 'A letter means a deal,' he said during a Cabinet meeting. 'We can't meet with 200 countries.' But he's also managed to make his erratic trade policy baffling for American trading partners eager to negotiate a way to dodge his wrath. The president escalated a conflict he started with America's second-biggest trading partner and longstanding ally, raising the tariff -- effectively a tax — on many Canadian imports to 35% effective Aug. 1. On Saturday, Trump announced more tariffs still, this time on two of the United States' biggest trade partners: the European Union and Mexico, at 30% each. And it's far from clear that these tariffs would benefit Americans' bottom lines. Trump's threat to boost import taxes by 50% on Brazilian goods could drive up the cost of breakfast in the United States by making staples of the American diet, such as coffee and orange juice, more expensive. Reception has been ... spotty The response to the letters, which the White House says will also be mailed, has been mixed. Canadian Prime Minister Mark Carney's office issued a mild statement acknowledging the new Aug. 1 deadline and suggesting he would stay the course 'steadfastly defend(ing) our workers and businesses.' Brazilian President Luiz Inácio Lula da Silva, meanwhile, vowed retaliatory tariffs and ordered his diplomats to return Trump's letter if it ever physically arrives at the presidential palace in Brasilia. 'Respect is good," Lula told TV Record. 'I like to offer mine, and I like to receive it.'
Washington Post
5 days ago
- Business
- Washington Post
To Whom it May Concern: Trump's tariff letters cause a stir among world leaders
Ninety trade deals in 90 days didn't happen early in President Donald Trump's second term. 'Liberation Day' panicked the financial markets in April. And bespoke trade agreements with dozens of countries, he has said, takes too much time. 'There's 200 countries,'' the president acknowledged. 'You can't talk to all of them.''
Associated Press
5 days ago
- Business
- Associated Press
To Whom it May Concern: Trump's tariff letters cause a stir among world leaders
Ninety trade deals in 90 days didn't happen early in President Donald Trump's second term. 'Liberation Day' panicked the financial markets in April. And bespoke trade agreements with dozens of countries, he has said, takes too much time. 'There's 200 countries,'' the president acknowledged. 'You can't talk to all of them.'' So Trump repackaged his plan to slap tariffs on almost every nation in a series of unusual presidential letters to foreign leaders that set new thresholds not just for trade negotiations — but also for diplomatic style, tone and delivery. Most are fill-in-the-blank form letters that include leaders' names and a tariff rate. Words are capitalized using Trump's distinct social media style. A few typos and formatting issues appear throughout. They generally include an opening flourish of salutation, a grievance, the threat of a big jump in tariffs, a new deadline and an escape ramp allowing that 'we will, perhaps, consider an adjustment to this letter' if certain conditions are met. Rather than typical diplomatic talk of things like enduring mutual respect, Trump closes with, 'Thank you for your attention to this matter!' and 'Best wishes,' followed by his signature of three long strokes linked by and about 14 short ones. He appears to have paid special attention to his letters to Canada, with which he's been fighting and taunting for months, and Brazil, which he singled out for 50% tariffs apparently based on a personal grudge rather than economics. A negotiation tactic The good news for the leaders of foreign countries, Trump suggested, is that if he sent you a letter, he wants to negotiate. 'A letter means a deal,' he said during a Cabinet meeting. 'We can't meet with 200 countries.' But he's also managed to make his erratic trade policy baffling for American trading partners eager to negotiate a way to dodge his wrath. The president escalated a conflict he started with America's second-biggest trading partner and longstanding ally, raising the tariff -- effectively a tax — on many Canadian imports to 35% effective Aug. 1. On Saturday, Trump announced more tariffs still, this time on two of the United States' biggest trade partners: the European Union and Mexico, at 30% each. And it's far from clear that these tariffs would benefit Americans' bottom lines. Trump's threat to boost import taxes by 50% on Brazilian goods could drive up the cost of breakfast in the United States by making staples of the American diet, such as coffee and orange juice, more expensive. Reception has been ... spotty The response to the letters, which the White House says will also be mailed, has been mixed. Canadian Prime Minister Mark Carney's office issued a mild statement acknowledging the new Aug. 1 deadline and suggesting he would stay the course 'steadfastly defend(ing) our workers and businesses.' Brazilian President Luiz Inácio Lula da Silva, meanwhile, vowed retaliatory tariffs and ordered his diplomats to return Trump's letter if it ever physically arrives at the presidential palace in Brasilia. 'Respect is good,' Lula told TV Record. 'I like to offer mine, and I like to receive it.'
