Latest news with #negotiators
Bloomberg
5 days ago
- Business
- Bloomberg
EU Diplomats See Progress on a US Trade Deal
The European Union and the US are progressing toward an agreement that would set a 15% tariff for most products, according to diplomats briefed on the negotiations. That, combined with Japan's trade agreement with the US, sent stocks climbing Wednesday. Both sides in the EU-US talks accelerated discussions over the past weeks to avoid a full-blown trade war sparked by Donald Trump's barrage of tariffs against partners across the world. Negotiators were nearing an agreement two weeks ago, but the negotiations stalled when Trump issued a new threat, this time a 30% levy against the bloc if no deal is reached by Aug. 1.
Wall Street Journal
16-07-2025
- Business
- Wall Street Journal
Forget TACO. Trump Is Winning His Trade War.
President Trump has announced that tariffs will rise sharply on key trading partners on Aug. 1, absent new deals. Markets and foreign negotiators have responded with a shrug. After all, Trump paused the bulk of his tariffs in early April, and his team promised as many as 90 deals in 90 days.
Yahoo
14-07-2025
- Business
- Yahoo
Trump ends whirlwind week with billions in new tariff revenue and a more complicated trade war
Donald Trump capped off a whirlwind week of tariff threats and actions with the announcement Saturday of plans for 30% tariffs on both the European Union (EU) and Mexico as well as with confirmation Friday that he has broken yet another monthly tariff revenue record, ending a stretch where his trade war got more complicated than ever. This latest frenetic series of headlines began last Sunday with the president promising a mix of "Letters, and/or Deals" and then talking of being "done" with trade talks this week. But observers surveyed the landscape this weekend seeing more than two dozen letters — and no deals — with perhaps the only certainty for the weeks ahead in that talks are likely to intensify in the coming weeks as negotiators (not to mention markets) refocus on a new Aug. 1 deadline. Read more: What Trump's tariffs mean for the economy and your wallet But in the meantime — as Trump himself often touts — tariff revenues are clearly coming in. New data from the Treasury Department released Friday afternoon confirmed that June was yet another record month on the revenue front, with $26.6 billion in customs duties coming into US coffers. It was another step up from May's total of $22.2 billion. It brings the total for the fiscal year, which began in November, to $108 billion, with the majority of that money coming in recent months as Trump's tariffs began to bite. But the Friday afternoon data also confirmed that Trump still has a way to go before tariff revenues make up a major piece of US government receipts; this latest Treasury monthly statement also showed that total government receipts for the month topped $526 billion. The new Friday data and Saturday letters were only the latest in a nonstop series of tariff headlines throughout the week — from surprise escalations and promises of 35% tariffs on Canada to 50% duties on Brazil to letters to 20+ additional nations and unveiling of 50% duties on copper. Trade observers couldn't keep up, but markets more often than not shrugged off the threats, with apparent plans to wait and see what the landscape looks like closer to that deadline next month. In the meantime, Trump says no more extensions are in the offing and added at a recent Cabinet meeting that "the big money will start coming in on Aug. 1." In total, Trump is now promising to impose blanket tariffs of about 15% to 20% on most trading partners, with others going much higher. Brazil was perhaps the biggest surprise of the week when that South American nation saw a letter with a possible 50% tariff over what Trump describes as a witch hunt of the former president, a Trump ally who faces accusations of trying to overturn the will of voters after losing a reelection bid in 2022. 'Maybe at some point I'll talk to him,' Trump told reporters Friday of when he would negotiate with Brazil. 'Right now I'm not.' Also in focus as the week ended was Canada, which was another surprise when it saw a Trump promise of a 35% rate, though many goods like oil that currently see a lower rate are expected to continue to be carved out as talks continue there. Read more: 5 ways to tariff-proof your finances Those talks are looking ahead to the new Aug. 1 deadline as well as a coming joint review of the United States-Mexico-Canada Agreement (USMCA) set for next July. Canadian Prime Minister Mark Carney responded to Trump's latest threat by saying talks have been ongoing with Canada prepared to defend its interests, adding, "We will continue to do so as we work towards the revised deadline of Aug. 1." It was all part of a week that saw Trump offering a new volume of hawkish commentary by the day and markets not only looking through the rhetoric but even rising. The S&P 500 (^GSPC) did retreat on Friday and was largely flat on the week but reached new record highs earlier in the week. It was a sharp contrast to early April when Trump's 'Liberation Day' tariffs sent markets reeling and caused the president to backtrack after he said he saw that people were "yippy" and "afraid." It was a very different tone this time with Trump touting the record highs, hosting Nvidia (NVDA) CEO Jensen Huang at the White House, and even suggesting his tariffs were fueling his view that America is the 'hottest country.' 'Tech Stocks, Industrial Stocks, & NASDAQ, HIT ALL-TIME, RECORD HIGHS!' he wrote Thursday. 'USA is taking in Hundreds of Billions of Dollars in Tariffs. COUNTRY IS NOW 'BACK.'" The bottom line, as Raymond James' Ed Mills noted this week, is that "the tariff landscape is evolving rapidly" with lots of drama ahead and rates likely from 10%-50% depending on the country. But in the end, he added, after Aug. 1, "the base case is for tariffs to settle in the 10–30% range." Ben Werschkul is a Washington correspondent for Yahoo Finance. Click here for political news related to business and money policies that will shape tomorrow's stock prices
Bloomberg
12-07-2025
- Business
- Bloomberg
Trump Patience on Tariffs Runs Thin as Nations Jostle for Deals
US trading partners trying to navigate the final weeks of negotiations before President Donald Trump's so-called reciprocal tariffs hit are facing a leader who has made clear he's lost patience with talks. Even as negotiators from Brussels to New Delhi are racing to find a way out of the punishing levies he's floated, Trump continued to send letters unilaterally setting rates — while still allowing for a little wiggle room.
Bloomberg
11-07-2025
- Automotive
- Bloomberg
A US-EU Trade Deal Hinges on Cars, Agriculture and Trump
Cars and tariff levels on agriculture have emerged as key sticking points between the European Union and the US as the two sides work toward a provisional trade agreement in the coming days, according to people familiar with the matter. The EU is seeking a tariff no higher than 10% on agricultural exports, the people said. An offset mechanism that some carmakers had pushed as a way to grant tariff relief to companies in return for investments in the US isn't under consideration for now amid worries from the EU it could shift production across the Atlantic. The bloc's negotiators are focusing talks on car tariffs instead, added the people, who spoke on condition of anonymity to discuss private deliberations.
