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Boston Globe
4 hours ago
- Business
- Boston Globe
Trump administration told Taiwan president to avoid New York stopover
Trump's desire for steady relations with China, and potentially to secure a summit with President Xi Jinping, may have influenced his administration's position on Lai's travel plans. Trump has said he is open to visiting China to meet with Xi. Advertisement Confirmation of Lai's travels would have riled China, which held trade negotiations with Trump's team in Stockholm this week. China considers Taiwan to be part of its territory and sees the United States' support for Taiwan as meddling in a domestic issue. Beijing routinely objects to Taiwanese leaders' visits abroad, particularly to the US. Matthew Pottinger, who was the longest-serving deputy national security adviser in the first Trump administration, criticized the apparent decision by US officials to 'bend over backwards' in the face of Chinese objections to transit stops by the Taiwanese leader. He noted that such visits were common during the first Trump term — he had met with the Taiwanese president on a visit to New York — and during the Biden administration. Advertisement 'Beijing will pocket this concession and ask for more,' Pottinger said. According to two officials familiar with the planning, Lai called off the trip after Trump administration officials told him to revise his itinerary for the US, specifically to forgo the visit to New York, which was viewed as more high-profile. The news about the Trump administration's objections to Lai's travel plans was earlier reported by The Financial Times. On Monday evening, Lai's spokesperson, Karen Kuo, said the president had no plans to travel soon. Lai needed to focus on dealing with damage in southern Taiwan from a typhoon, as well as trade talks with the Trump administration, Kuo said. She said the reports of US obstructions were 'inaccurate' and 'purely speculative.' While Lai's office had never publicly confirmed the trip, three Taiwanese officials had in recent days and weeks privately described his plans to stop in New York and Dallas as part of his travels to Paraguay, Guatemala, and Belize, three of Taiwan's diplomatic partners in Latin America. David Sacks, a fellow in Asia studies at the Council on Foreign Relations who specializes in US-Taiwan relations, pointed out that such US stops were coordinated with Washington. 'The idea that Taiwan would plan a trip for its president to visit three of its diplomatic partners while transiting through the United States, all without approval from senior American officials, strains credulity,' he said. Advertisement The White House National Security Council did not reply to a request for comment. Tammy Bruce, a State Department spokesperson, told reporters Tuesday that because Taiwan had not announced any travel plans by Lai, any discussion about it was 'a hypothetical.' Lai's predecessor as president, Tsai Ing-wen, visited New York in 2023, during the Biden administration. Tsai also met in California with Kevin McCarthy, then the speaker of the House, the third-ranking post in the US government. That was the highest-level in-person meeting for a leader of Taiwan in the United States since Washington switched diplomatic relations from Taiwan to the People's Republic of China in 1979. The United States maintains political, economic, and security ties with Taiwan, and allows the island's president to make stops on the way to and from other countries — but Washington has sometimes set limits. In 2006, President Chen Shui-bian canceled a plan to travel through the United States after Washington denied him permission to stop in New York. Taiwanese officials had made arrangements for Lai to give a speech in New York, and he was expected to attend an exhibition of Taiwanese technology and products in Dallas, according to two researchers who had heard about the plans from diplomats. Asked about the reports that the Trump administration had blocked Lai's plans for visiting the US this time, a spokesperson for the Chinese government's Taiwan affairs office reiterated that Beijing 'adamantly opposes' any such visits at any time. This article originally appeared in
The Hill
a day ago
- Business
- The Hill
Trump trade policies less damaging than expected: IMF
President Trump's trade policies are less damaging than expected, with the International Monetary Fund (IMF) upgrading the projections of global economic growth for this year and 2026. The IMF, a Washington-based financial institution that works on facilitating international trade and sustained economic growth, projected a 3 percent global economic growth for 2025, 0.2 percentage points higher than the previous forecast from April, according to its Tuesday report. The organization, which consists of 190 member countries, is also projecting a 3.1 percent growth in 2026, 0.1 percentage point higher than the previous forecast. 'This reflects stronger-than-expected front-loading in anticipation of higher tariffs; lower average effective US tariff rates than announced in April; an improvement in financial conditions, including due to a weaker US dollar; and fiscal expansion in some major jurisdictions,' the IMF said in the new 12-page report. Similarly to the April findings, global headline inflation is expected to dip 4.2 percent this year and 3.6 percent next year. 'The overall picture hides notable cross-country differences, with forecasts predicting inflation will remain above target in the United States and be more subdued in other large economies,' the group said. Companies 'frontloading' imports before Trump's tariffs when into effect, along with the slight tumble of the U.S. dollar assisted in the growth of the world economy, IMF's chief economist Pierre-Olivier Gourinchas told The Financial Times. 'At the time of the April forecast, we had an effective tariff rate on [imports into the US] of 24 per cent,' Gourinchas said. 'We're now looking at an effective tariff rate of 17 per cent. While 17 is still much higher than where we were in January, there's been some easing of the tariff pressure.' China and the U.S. economies have received upgrades in the IMF's forecast, along with the United Kingdom, which will be the third-fastest-growing economy within the group of seven (G7) this year and in 2026. 'In both tariffing and tariffed countries, elevated uncertainty and volatility require robust prudential policies to safeguard financial stability,' the IMF wrote in the report. 'Crucially, the ambiguous and volatile landscape also requires clear and consistent messaging from central banks and the protection of central bank independence, not only in legal terms, but also in practice,' the organization added.
Time of India
23-07-2025
- Politics
- Time of India
Brigitte Macron ‘born a man' explosive theory gains traction after lawsuit against far-right podcaster Candace Owens
French President Emmanuel Macron and his wife Brigitte have filed a defamation lawsuit in the US against conservative influencer Candace Owens over her claims that France's first lady is secretly a man, reports The Financial Times. The defamation lawsuit has been filed against Candace Owens over the far-right influencer's 'relentless and unjustified smear campaign' falsely accusing Brigitte of being a man. Tom Clare of Clare Locke LLP, who is representing the Macrons, announced the lawsuit in a release on Wednesday, July 23. The Macrons filed their 218-page lawsuit in the Superior Court of the State of Delaware. Explore courses from Top Institutes in Please select course: Select a Course Category Data Science Others Data Science Technology MCA Design Thinking Finance Management Data Analytics MBA Cybersecurity Healthcare Leadership PGDM others Public Policy Artificial Intelligence Degree Product Management Digital Marketing Operations Management CXO Project Management healthcare Skills you'll gain: Data Analysis & Interpretation Programming Proficiency Problem-Solving Skills Machine Learning & Artificial Intelligence Duration: 24 Months Vellore Institute of Technology VIT MSc in Data Science Starts on Aug 14, 2024 Get Details Skills you'll gain: Strategic Data-Analysis, including Data Mining & Preparation Predictive Modeling & Advanced Clustering Techniques Machine Learning Concepts & Regression Analysis Cutting-edge applications of AI, like NLP & Generative AI Duration: 8 Months IIM Kozhikode Professional Certificate in Data Science and Artificial Intelligence Starts on Jun 26, 2024 Get Details Macrons sue far-right podcaster The lawsuit accuses Owens of proliferating 'demonstrably false' claims through her platforms, including in an eight-part podcast and on social media, designed to feed a 'frenzied fan base' in 'pursuit of fame,' the Macrons allege. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join new Free to Play WWII MMO War Thunder War Thunder Play Now Undo 'These lies have caused tremendous damage to the Macrons,' according to the lawsuit, which names Owens as well her business entities, which are incorporated in Delaware. ALSO READ: Inside Eve Jobs' lavish $6.7million wedding to Harry Charles: Kamala Harris, Elton John confirmed guests Live Events The lawsuit calls Owens' various claims "outlandish, defamatory, and far-fetched fictions" and said they had caused "relentless bullying on a worldwide scale," doing "tremendous damage to the Macrons". Owens, a popular rightwing podcaster, had posted to X in 2024: "After looking into this, I would stake my entire professional reputation on the fact that Brigitte Macron is in fact a man." She posted an eight-part video series to her YouTube channel, titled Becoming Brigitte, laying out her claims. "Because Ms. Owens systematically reaffirmed these falsehoods in response to each of our attorneys' repeated requests for a retraction, we ultimately concluded that referring the matter to a court of law was the only remaining avenue for remedy," said the Macrons in a statement. ALSO READ: $1,390 Stimulus check in 2025: Do Americans need to pay tax on the amount and who needs to apply? What did the Macrons say? The false claims have subjected the Macrons to a 'campaign of global humiliation, turning their lives into fodder for profit-driven lies,' the complaint says. 'Owens has dissected their appearance, their marriage, their friends, their family, and their personal history — twisting it all into a grotesque narrative designed to inflame and degrade,' the complaint alleges. 'The result is relentless bullying on a worldwide scale. Every time the Macrons leave their home, they do so knowing that countless people have heard, and many believe, these vile fabrications. It is invasive, dehumanizing, and deeply unjust.' ALSO READ: Elon Musk's Tesla diner has robots serving popcorn, cybertruck food boxes and 66ft movie screens. Check full list of menu Brigitte Macron was previously awarded £6,750 in damages last year after two other far-right influencers falsely accused her of being a transgender woman. Amandine Roy, 53, and Natacha Rey, 49, a blogger, were cleared of the charges as the judges of the Paris Appeal Court ruled that they had every right to make those allegations. Brigette Macron has found herself under attack not just in France but across the world. A controversial book named 'Becoming Brigitte,' published by journalist Xavier Poussard, also became the breeding ground for conspiracy theories.
Business Insider
19-07-2025
- Business
- Business Insider
BTC, ETH, DOGE: Trump to Approve Crypto Investments for 401(k) Retirement Accounts
Multiple media reports say that U.S. President Donald Trump is preparing to sign an executive order that will allow American retirement accounts to invest in and hold cryptocurrencies. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. The Financial Times was first to report on the move by President Trump that will allow 401(k) retirement accounts to invest in cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE), and possibly other alternative assets beyond stocks and bonds. Other alternative assets that might be approved for retirement accounts include gold and private equity investments. President Trump will reportedly direct regulators to clear any hurdles to investing in crypto and other alternative assets. BTC rose above $120,000 in early trading on July 18 on reports that President Trump is planning to allow crypto in traditional investment accounts. Bold Move Until now, cryptocurrencies such as Bitcoin had been barred from 401(k) retirement accounts in the U.S. as they had been deemed too risky. However, President Trump was re-elected last year on a promise to make the U.S. the 'crypto capital of the planet.' Since returning to the White House in January of this year, Trump has enacted several pro-crypto policies. The president himself is a crypto investor. News of the addition of crypto to retirement accounts comes a day after the passage of the GENIUS Act cryptocurrency legislation in Congress, which is viewed as a milestone for digital assets. Is BTC a Buy? three-month performance. As one can see in the chart below, the price of BTC has risen 38.70% in the last 12 weeks.
NDTV
17-07-2025
- Business
- NDTV
Trump Reaps $50 Billion As World "Chickens Out" On Tariff Retaliation
US President Donald Trump, mocked for " always chickening out," has reaped nearly $50 billion in revenue from his aggressive new tariff regime, while much of the world has hesitated to hit back. Data released by the US Treasury shows customs revenue soared to $64 billion in the second quarter, up $47 billion from the same period last year, a historic high. Four months after Trump launched his aggressive new trade policy, only China and Canada have implemented significant retaliatory tariffs. Trump's policy imposed a minimum 10 per cent global tariff, 50 per cent levies on steel and aluminium, and 25 per cent duties on automotive imports, prompting fears of a full-blown trade war. Those fears have largely not materialised, due in large part to global restraint. "Trump has made it clear that he is prepared to raise tariffs further in the face of retaliation," Marta Bengoa, professor of international economics at City University of New York, told The Financial Times. "Many countries learned from the 2018-2019 trade war that retaliation often leads to counter-retaliation rather than negotiated solutions." China has mounted the most sustained pushback, yet its tariffs haven't translated into comparable financial gains. Chinese customs duty income rose just 1.9 per cent in May 2025 compared to a year earlier. Canada's response was notable but brief: it imposed C$155 billion in retaliatory tariffs earlier this year but has since pulled back under economic pressure. Other major US trade partners have refrained from tit-for-tat responses. Many are still negotiating behind the scenes to avoid further escalation. The European Union, the world's largest trading bloc, has prepared a retaliatory tariff package targeting Euro 72 billion worth of American goods, including aircraft, bourbon, and automobiles, but has delayed implementation, Reuters reported. Officials cite the August 1 deadline Trump set for trade negotiations as a key factor behind the hesitation. "They affect the whole spectrum of US relations, including those regarding security," said an EU official familiar with the talks, linking trade decisions to geopolitical issues like US support for Ukraine. Major companies, including Apple, Adidas, and Mercedes-Benz, have shifted sourcing strategies and absorbed some costs to minimise consumer fallout in the US market. Trump's tariff levels are the highest seen since the Smoot-Hawley Tariff Act of the 1930s. Mexico, the United States' largest trading partner, has refrained from retaliation. President Claudia Sheinbaum has instead prioritised a negotiated solution, citing economic pragmatism. Even China, which imposed tariffs as high as 145 per cent, scaled back to 30 per cent after a 90-day truce agreed in Geneva in May. Canada, too, has retreated from its initial "elbows up" rhetoric, with Prime Minister Mark Carney shelving plans for a digital services tax and opting not to mirror Trump's move to double steel tariffs. Looking forward, the European Commission is quietly warning of a potential turning point. Trade Commissioner Maros Sefcovic warned that a 30 per cent tariff on EU exports would make transatlantic trade " almost impossible."
