The new trade agreement between the U.S. and the European Union will lift tariffs on imports of goods from EU countries to their highest level in decades and hurt the trading bloc’s economic growth, according to some experts. “It is an asymmetric and unbalanced deal,” economists with investment bank Société Générale said in a…
President Trump is meeting on Monday with U.K. Prime Minister Keir Starmer during the U.S. leader’s visit to Scotland. While ostensibly a private trip, marked by multiple rounds of golf on his own luxury courses, Mr. Trump has also done some business — including nailing down a long-sought-after U.S.-European Union trade agreement. After meeting for…
Financial markets around the world welcomed a framework trade agreement on Monday between the United States and the European Union with a 15 percent U.S. tariff on most EU goods and billions of dollars of European investment. U.S. President Donald Trump and European Commission President Ursula von der Leyen announced the agreement on Sunday at…
Beijing and Washington are expected to extend their tariff truce by another three months at trade talks in Stockholm beginning on Monday, according to sources close to the matter on both sides. China and the United States agreed in May to remove most of the heavy tariffs levied on each other’s goods for 90 days…
Parents rush to buy school supplies before tariff deadline – CBS News Watch CBS News The National Retail Federation says more parents than ever are bracing for price hikes and are trying to get ahead of the Aug. 1 tariff deadline by shopping for school supplies in the middle of summer. Ali Bauman has more….
When President Donald Trump revealed that his administration had struck a “massive” trade and investment deal with Japan, he described it as “completed”—but it must still pass the Japanese parliament, called the Diet, which is riven with political turmoil. The deal will likely require—at least in part, if not in full—approval by the Diet, where…
It’s a new week, and a new historical high. The S&P 500 index reached a new all-time high on Friday, marking the third time this week and the sixth time in July that the record has been broken. The market continues to ignore the ongoing tariff escalations (30% tariffs on Mexico and the EU), the…
EU diplomats briefed on the matter told POLITICO they are expecting a 15 percent U.S. baseline tariff deal before Trump’s Aug. 1 deadline. “Everyone is quite tense,” said an EU diplomat. ‘They kept coming back’ Trump announced tariffs on 60 trading partners in April, ranging up to 50 percent. The U.S. president said any deal with…
London — President Trump is due to arrive Friday for what the White House is calling a “working visit” to Scotland. It’s expected to include a mix of both personal time and political business. As was the case during his last visit as president in 2018, he is likely to be greeted by protests everywhere he…
The new normal for U.S. tariffs on foreign goods starts at 15%. Even as President Trump seeks to forge new terms of trade with Japan, the European Union and other global economic partners, he is raising the floor for tariffs to their highest level in decades. Speaking at an AI summit on Wednesday, Mr. Trump said “we’ll…