Latest news with #economicdeal
New York Times
3 days ago
- Business
- New York Times
Trump and Starmer to Meet in Scotland to Discuss Trade and Gaza
President Trump will host Prime Minister Keir Starmer of Britain at his two golf courses in Scotland on Monday, the day after announcing a deal with the European Union designed to avoid a costly economic war with America's biggest trading bloc. Mr. Trump announced on Sunday that Europe had agreed to tariffs of 15 percent on automobiles and most other E.U. goods, after meeting with Ursula von der Leyen, the president of the E.U.'s executive branch. The tariffs are higher than the 10 percent duty on most British goods that Britain, which is not in the European Union, agreed to in a deal that Mr. Starmer and Mr. Trump struck in May. The 27-nation bloc also agreed to buy $750 billion worth of U.S. energy and invest $600 billion in the United States, Mr. Trump said. Trade is among the topics that Mr. Trump and Mr. Starmer are expected to discuss when they meet first at Mr. Trump's Turnberry golf club on the west coast of Scotland and then travel to the other side of the country for dinner at the president's other club, in Aberdeen. The two leaders are expected to resume efforts to resolve a dispute about U.S. tariffs on British steel and aluminum, which remain at 25 percent. In June, Britain and the United States signed an agreement to resolve other trade issues, with both sides saying the deal would benefit both countries. British officials said they expect the all-day agenda to also include the humanitarian crisis in Gaza and the grinding war in Ukraine. Want all of The Times? Subscribe.
Globe and Mail
15-06-2025
- Business
- Globe and Mail
Carney to meet Trump at G7 on Monday morning, PMO says
Prime Minister Mark Carney is expected to hold a one-on-one meeting with U.S. President Donald Trump at the Group of Seven Summit Monday – an opportunity for the two men to make progress on resolving a damaging three-month trade war. The Prime Minister's Office told reporters about the meeting on Sunday. The G7 summit is taking place in the Rocky Mountain resort of Kananaskis, Alta. The Monday tete-a-tete would be the first time the pair have met in person since Mr. Carney visited the White House in early May. Mr. Carney is also expected to meet Indian Prime Minister Narendra Modi in a one-on-one Tuesday. As The Globe and Mail reported last week, Canada and the United States are exchanging potential terms of agreement in closely held talks on an economic and security deal. These exchanges are an effort to spell out what both sides might be able to agree upon as Ottawa and Washington try to find enough common ground to end their damaging trade war. More coming
Washington Post
12-06-2025
- Business
- Washington Post
Trump miscalculated on China. Now the administration is trying to fix the mess.
President Donald Trump started his world wide trade war with what appeared to be a strong hand. China's economy, in particular, seemed vulnerable as it struggled through a real estate crisis and governmental mismanagement. Beijing would have to deal on terms favorable to the United States. U.S.-China trade talks this week, however, confirmed this was a miscalculation. Though Trump hailed the results of the summit, held in London, as a new trade deal, the terms largely echoed those of an earlier U.S.-China agreement in Geneva last month, the implementation of which China had slow-walked. Beijing's capacity to force economic pain on its people is hardly unlimited; popular outcry over strict pandemic-era restrictions eventually forced the government to relax them. But 'eventually' is the key word. Ending the suffering will now require serious dealing on both sides.
CTV News
12-06-2025
- Business
- CTV News
Canada-U.S. talks on economic and security deal intensify: sources
Prime Minister Mark Carney and U.S. President Donald Trump meet in the White House in Washington, D.C., on Tuesday, May 6, 2025. THE CANADIAN PRESS/Adrian Wyld The U.S. and Canada have intensified talks for an economic and security deal in recent weeks — with a framework for such an arrangement trading hands between the two parties — sources tell CTV News. Sources who spoke to CTV News on the condition of anonymity all universally cautioned the finalizing of such a deal requires sign-off directly from U.S. President Donald Trump, and there are no explicit assurances that will happen on a certain timeline. A senior government source, speaking on background, also confirmed that documents are going back and forth between Canadian and American sides of the negotiating table, but would not confirm the documents' contents. The source described it as 'part of a normal negotiation,' adding the government 'will not negotiate in public.' Sources say there has been substantial progress on a deal, but that Trump's own mercurial nature, plus recent domestic pressures — such as the protests in Los Angeles, Calif. and the president's feud with billionaire entrepreneur Elon Musk — are making any certainty around a timeline even more unpredictable. The U.S. and Canada have been embroiled in a trade war since February, when the president began implementing a series of tariffs on Canadian goods. Prime Minister Mark Carney has frequently said in response to Trump's levies that the decades-old Canada-U.S. relationship is 'over,' but that a new economic and security relationship between the two countries remains possible. Speaking to reporters on his way into a caucus meeting Wednesday morning, Finance Minister François-Philippe Champagne said the talks are a 'very dynamic situation,' adding he would defer to the prime minister and the minister responsible for Canada-U.S. trade. 'We're all on the same page. We're fighting for Canada, we're fighting for industry, making sure that they understand that this is damaging on both sides of the border,' Champagne said. Last week, Industry Minister Melanie Joly confirmed Carney and Trump have been in direct talks in recent weeks, with readouts of those calls not being made public. Meanwhile, during a fireside chat hosted at the Canadian Club of Ottawa on Wednesday, U.S. Ambassador to Canada Pete Hoekstra said that 'all the indications are that we could move to a very positive agreement.' 'Let's see what's in here, because there's also the possibility you could end up with something like no deal or whatever,' Hoekstra said. 'That wouldn't be ideal, but until a deal is announced, you really won't know what's in it, and you won't know that it's finalized.' Hoekstra, who attended the luncheon following Carney's visit to Washington last month, also said the two leaders are 'in a hurry to get things done,' adding 'the pace is unprecedented.' 'Premature to break out the champagne': Bolton Former U.S. National Security Advisor John Bolton said in an interview on CTV Power Play with Vassy Kapelos on Tuesday that he too has heard of increased speculation of an imminent deal, but cautioned 'there could still be a long way to go.' 'I think that is a risk,' Bolton said, when asked whether a deal in the traditional sense is possible with Trump, considering the president's tariffs contravene the existing trade pact he signed during his first term. 'I think what Trump wants more than anything else is to be able to announce that he's got a deal that solves the problem. Now, whether it does or not is, is anybody's guess.' 'I think it's premature, based on the speculation to break out the champagne,' Bolton also said. Carney announced Monday that he plans to boost spending to finally meet the NATO target of spending two per cent of GDP on defence this year. That's later than Canada first signed onto the target more than a decade ago, but five years earlier than Carney committed to during the election. 'It's probably worth what you paid for it,' Bolton told Kapelos. 'It is a sore point for many Americans, not just Donald Trump, that going back to (former U.S. president) Barack Obama, who called NATO allies who didn't hit the two per cent target 'free riders.'' 'And if that's part of the deal, I could see that coming,' added Bolton, who served as National Security Advisor from 2018-2019, during Trump's first term as president. With files from CTV News Chief Political Correspondent Vassy Kapelos, Senior Political Correspondent Mike Le Couteur, and Supervising Producer Stephanie Ha
CTV News
11-06-2025
- Business
- CTV News
CTV National News: Reports of a framework of an economic and security deal with U.S.
Watch Vassy Kapelos says the big sticking point for Canada for a possible economic and security deal with the U.S. is the removal of tariffs.
