Tracking Trump's Tariffs and Turbulent Trade Talks

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Trump's tariffs deadline is looming for Europe. Here's where things stand​

  • The U.S. and European Union have not yet struck a trade deal.
  • There are just a few days left before the end of a 90-day reprieve on reciprocal tariffs imposed by the U.S.
  • Retaliatory measures from the EU, which have also been paused for now, could then quickly follow.
All eyes are on talks between the U.S. and the European Union, which have yet to strike a trade deal with just days to go before Washington's tariffs come into full effect.

Should the trading partners fail to reach an agreement by July 9 — when a 90-day reprieve on U.S. President Donald Trump's so-called reciprocal tariffs ends — EU goods imported to the U.S. could be hit by duties of up to 50%. Retaliatory measures from the EU targeting a wide range of U.S. goods, which have also been temporarily put on hold, could then follow shortly afterward.

More:

https://www.msn.com/en-us/money/mar...ere-things-stand/ar-AA1HXN5b?ocid=socialshare
 
I wonder if exemptions on precious metals might expire should tariffs be imposed.
 

Bessent: Tariffs will ‘boomerang’ back to April levels by Aug. 1 for countries without deals​

  • Treasury Secretary Scott Bessent said President Donald Trump will send letters to some trading partners saying tariffs will boomerang back to April 2 levels on Aug. 1 if there is no progress.
  • Bessent rejected that Aug. 1 is a new trading deadline, but it could still give countries more time to negotiate.
  • Bessent also said that he expects to see “several big announcements over the next couple of days” about trade deals.
Treasury Secretary Scott Bessent said Sunday that tariffs announced back in April will take effect on Aug. 1 for countries that have not reached an agreement with President Donald Trump’s administration.

“President Trump’s going to be sending letters to some of our trading partners saying that if you don’t move things along, then on August 1, you will boomerang back to your April 2 tariff level,” Bessent said on CNN’s “State of the Union.”

On Aug. 1, countries will “get a letter saying that if we have not reached an agreement, then you will go back to the April 2 level,” he said.

More:

 

Trump threatened additional tariffs for countries aligning with 'anti-American' BRICS policies​

  • President Donald Trump has threatened 10% tariff on countries aligning with BRICS policies.
  • A BRICS statement from the group's annual meeting voiced concerns about tariffs and the Gaza war.
  • Trump has previously targeted BRICS, threatening a 100% tariff rate on countries seeking to ditch the dollar.
President Donald Trump has issued a new tariff threat.

"Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff," Trump wrote in a post on Truth Social on Sunday night.

"There will be no exceptions to this policy," he added.

More:

https://www.msn.com/en-us/money/mar...n-brics-policies/ar-AA1I68Dm?ocid=socialshare
 
Dumb bastard, economic bullying is what led to BRICKS in the first place...
 

China says it will retaliate on unfavorable deals after Trump warns Asia of higher tariffs​

HONG KONG — Chinese state media warned the Trump administration on Tuesday against striking deals that sideline China, after the president announced that Asian countries would face higher tariffs starting on August 1, unless other arrangements are agreed on before then.

“If such situations arise, China will not accept them and will resolutely take countermeasures to safeguard its legitimate rights and interests,” the People’s Daily, a state-run newspaper, said in a commentary.

More:

https://www.msn.com/en-us/news/worl...f-higher-tariffs/ar-AA1IbAAc?ocid=socialshare
 

Investors are hoping the TACO trade saves them from Trump's tariffs again​

  • Stocks fell on Monday as Trump announced updates on tariffs.
  • Investors are hoping the TACO trade—short for Trump Always Chickens Out—will prevail.
  • Trump has backed down or pivoted from other announcements that shook markets this year, sparking big relief rallies.
Stocks dropped on Monday with Donald Trump's tariff tough talk back in the spotlight. Now, investors are hoping it's TACO Tuesday.

More:

https://www.msn.com/en-us/money/mar...-s-tariffs-again/ar-AA1IaYSe?ocid=socialshare
 

Copper now costs way more in the U.S. than elsewhere. This could hit its economy hard​

  • The U.S. copper price premium over the global benchmark soared 138% on Tuesday to a record high after U.S. officials announced potential 50% import tariffs on the metal.
  • Copper has been flooding into the U.S. from Europe and Asia this year on expectations of higher duties.
  • The huge discrepancy in U.S. prices compared to those elsewhere is expected to have a major economic impact, analysts told CNBC.
The cost of copper for U.S. buyers has rocketed after President Donald Trump said he would impose a 50% tariff on imports of the metal.

It means that already elevated prices are now even higher in the U.S. than elsewhere — and analysts warned of a hit to businesses and the wider U.S. economy as a result.

The U.S. imports just under half of its copper, which is used in products ranging from machinery, electronics and household goods to housing and infrastructure projects. Trump’s stated ambition is to increase domestic production, but experts say this will take years to ramp up and decades to fully meet demand — at a massive up-front investment cost.

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Here's another viewpoint. Trump's not changing just the US.



I’m sitting here in awe of what Trump is accomplishing in such a short amount of time.

I’m watching a White House meeting between Trump and many ignored leaders of Africa.

The world is completely changing and I tried to tell people that the world instantly changed the moment Trump was sworn in, back in 2017.

Why is this meeting so important?

For many generations, these African nations, who are rich in natural resources, have been FORCED into perpetual poverty and had their wealth stolen.

Trump is not doing a televised sit down meeting with the leaders of Europe.

He’s doing it with five African countries that he has liberated from European control and oppression.
And he’s doing it right in the face of those European leaders, who are also oppressing their own people.

Trump is freeing the world and offering these oppressed countries the first opportunity to have “a seat at the table.”

The most powerful table in the world.

Economic prosperity is coming to Africa.

Can you imagine how big the world economy can grow if 1.5 billion people are lifted out of poverty because they have good paying jobs and are accumulating wealth to spend worldwide?

Can you imagine how much trade volume is going to increase and WHY “tariffs” are going to easily replace the income tax, which will also place more money in the American people’s pockets?

We are all greatly underestimating what’s coming.

Think much, much bigger!!
 
Tariffs would replace the meager taxes on the people...


This is a bigger deal than most people understand.

Treasury Secretary Scott Bessent is giving some really big SIGNAL here for what’s coming.

Here’s the big picture.

Do you want to know the easiest way to get rid of the FED and fiat currencies at the same time?

My friend @JeffPasquino has been all over this.

Gresham’s Law.

The easiest and least painful way to remove the FED and get rid of fiat currencies, is to make them COMPETE.

Compete with WHO?

How about the U.S. Treasury?

Treasury Secretary Bessent is talking about the passage of the GENIUS Act in the Senate and soon to be passage in the House too.

The GENIUS Act will create the legal framework for a U.S. backed “stablecoin.”

What’s to stop Trump and Treasury Secretary Bessent from issuing a new dollar stablecoin to compete with the Federal Reserve Note.

What’s to stop Trump and Bessent from issuing a new dollar backed by gold/bitcoin and putting it on the stablecoin “rail system?”

Why not let the “new” dollar compete with the “fiat” dollar?

What would the people want more?

Fiat dollars or gold/Bitcoin backed dollars?

Why not let people choose whether to use the current FED banking system or the peer to peer stablecoin system with no third party control and where transactions are instant?

Which system would the people prefer?

And what about Treasuries?

What do you think the world would prefer, fiat 5/10/30 year treasuries, or gold/bitcoin backed 5/10/30 year treasuries?

Can you see how easy it would be to actually get rid of the FED and fiat currency/treasuries?

This is the ultimate “handing the power back to the people.”

The people would get to choose sound money and that would remove the FED and fiat currency at the same time.

The FED would be stuck with all the fiat debt because the Federal Reserve Note belongs to the FED, not the people and nobody would want it anymore.

The “new” dollar would belong to the people and they would have control of it using stablecoins.

I would also throw in the fact that the FED is going to have their corruption exposed and be found unconstitutional too.

Possibility???
 
What if?


Exactly what I'm thinking...

We're the most organized society in the world. We have jobs and pay our taxes. We follow the laws! (why they're attempting to defund the popo?)

We purchase and consume mass quantities of what the world produces.

Why shouldn't the US market have a 'fee' to access it?

 

German exporters don't want US trade deal 'at any price', says trade group​

By Rene Wagner and Maria Martinez

BERLIN (Reuters) -German exporters do not want a deal at any price in the trade conflict with the United States, said Dirk Jandura, head of the BGA trade lobby.

"Our interests must be reflected in an agreement with the U.S.," Jandura said on Thursday in Berlin. "We need a fair deal for the whole of Europe. It must not be concluded at any price."

The European Commission aims to reach a trade agreement outline with the U.S. in the coming days, ahead of the August 1 deadline set by President Donald Trump for broad tariff increases.

Jandura, President of the Federation of German Wholesale, Foreign Trade and Services (BGA), called for a stronger European single market to improve the EU's negotiating position and to cushion the economic impact of tariffs, alongside new trade agreements or the revision of existing ones.

More:

https://www.msn.com/en-us/money/mar...says-trade-group/ar-AA1IkNOC?ocid=socialshare
 

Trump announces 35% tariffs on Canada starting Aug. 1, warns of higher levies if Ottawa retaliates​

  • U.S. President Donald Trump on Thursday announced a 35% tariff on Canadian imports, starting Aug. 1.
  • Trump cited fentanyl as a reason for the tariffs, while also complaining about Ottawa’s retaliatory duties.
  • Canadian Prime Minister Mark Carney in his response said “Canada has made vital progress to stop the scourge of fentanyl in North America.”
U.S. President Donald Trump on Thursday raised tariffs on Canadian imports to 35%, effective Aug. 1, complaining that Ottawa had retaliated with duties against Washington.

“Instead of working with the United States, Canada retaliated with its own Tariffs,” Trump said to Mark Carney, prime minister of Canada, in a letter posted on Truth Social.

He attributed fentanyl as a reason for that rate in the letter: “If Canada works with me to stop the flow of Fentanyl, we will, perhaps, consider an adjustment to this letter.”

More:

 
The Atlantic

Start Budgeting Now​

You might have forgotten about the trade war, but the trade war has not forgotten about you.

This week, Donald Trump reignited the global financial conflict he started in January, sending letters threatening new tariff rates to nearly two dozen countries. Starting in August, American importers will pay a 25 percent tax on goods from South Korea and Japan, a 35 percent tax on goods from Canada and Bangladesh, and a 50 percent tax on goods from Brazil unless those countries agree to bilateral deals. Additionally, Trump warned he would slap tariffs on goods from any country “aligned” with the “Anti-American policies” of China, India, and other industrial powerhouses—no further details given—and put a 50 percent levy on imported copper, used to build homes, electronics, and utility systems.

More:

https://www.msn.com/en-us/news/us/start-budgeting-now/ar-AA1IptuC?ocid=socialshare
 

Which European economy stands to suffer the most from US tariffs?​

One-fifth of the EU’s exports are heading to the US. Tariffs on the carmaking sector hit the German economy the most, but potential tariffs on the pharmaceutical one could cost substantially to the Irish economy.​

Germany and Ireland are standing out as the two most exposed EU economies threatened by higher US tariffs, as Brussels works towards a trade deal with Washington, amid reports that pharmaceutical tariffs could be as high as 200%.

When US President Donald Trump imposed a new 25% tariff on auto imports and car parts in April, Germany was identified as the EU country with the most to lose. Brussels-based think tank Bruegel’s estimation at the time was that tariffs could cost 0.4% of the country’s GDP in the long term.

While awaiting a new EU-US trade deal, other details emerge that could put Ireland, Denmark, and Belgium, as well as other countries, in the crosshairs should Washington target the pharmaceutical sector next.

More:

 

Treasury posts unexpected surplus in June as tariff receipts surge​

  • With government red ink swelling throughout the year, June saw a surplus of just over $27 billion, following a $316 billion deficit in May.
  • Customs duties totaled about $27 billion for the month, up from $23 billion in May and a 301% gain from June 2024.
The U.S. government posted a surplus in June as tariff receipts gave an extra bump to a sharp increase in receipts, the Treasury Department said Friday.

With government red ink swelling throughout the year, last month saw a surplus of just over $27 billion, following a $316 billion deficit in May.

More:

 
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