Carney backs down on tariffs to keep Trump talks alive

Trump tariffs live updates: Navarro expects 50% India tariff, Canada to drop retaliatory duties

The US and the EU have agreed to a new trade deal. The deal includes a 15% drop in tariffs on certain imports. The US is expected to announce a similar deal with the EU in the coming days. The EU is also expected to drop its own 15% tariff on some goods. The U.S. is set to announce its own plan to reduce its own 25% tariffs on some Chinese imports next week.

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White House trade adviser Peter Navarro again criticized India for its ongoing purchases of Russian oil and said he anticipates the planned 50% punitive tariffs on Indian imports will take effect next week.

“I see that taking place,” Navarro told reporters in front of the White House when asked about the tariffs on India that are set to double on Aug. 27. “India doesn’t appear to want to recognize its role in the bloodshed. It simply doesn’t. It’s cozying up to Xi Jinping, is what it’s doing.”

A Chinese official voiced support for India regarding US tariffs on its exports, highlighting growing cooperation between the two Asian neighbors.

“The United States has imposed tariffs of up to 50% on India, and it has even threatened for more. China firmly opposes this,” said China’s ambassador to India, Xu Feihong.

Meanwhile, Canada will drop its retaliatory tariffs to match US tariff exemptions for goods covered under the United States-Mexico-Canada trade pact, a government official said Friday. Canadian Prime Minister Mark Carney is expected to make a formal announcement of the move meant to reset trade talks.

This follows Thursday’s news that the US and the EU established a written framework for the trade deal agreed to on July 27. The terms include a 15% US tariff on most EU imports: These include autos, pharmaceutical goods, semiconductors, and lumber — but not wine and spirits.

The two sides also outlined the EU’s promise to remove tariffs on US industrial goods and give better access to US seafood and agricultural products.

The biggest negotiations to watch in the coming months are Canada, Mexico, and China.

Earlier this month, Trump unveiled “reciprocal” tariffs on dozens of US trade partners (which you can see in the graphic below).

Read more: What Trump’s tariffs mean for the economy and your wallet

Here are the latest updates as the policy reverberates around the world.

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Trump latest: US president hits out again at ‘stubborn moron’ – after announcing tougher tariffs for dozens of countries

Democrats plan to target Trump’s ‘big beautiful bill’ in summer campaign blitz. Party is planning a nationwide summer blitz of campaigning, with the goal of forcing vulnerable Republicans to defend Trump’s tax breaks and spending cuts. Democrats are hoping to point out Medicaid cuts that will leave millions of Americans without health care coverage. Republican leaders, meanwhile, have encouraged their members to promote more popular aspects of the bill during smaller controlled appearances where officials are less likely to face difficult questions or protests. The battle to come could define next year’s midterm elections, which will decide who controls Congress for Trump’s final two years in office.

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Democrats plan to target Trump’s ‘big beautiful bill’ in summer campaign blitz – as midterms battle takes shape

Donald Trump probably sees it as the greatest achievement of his second term as US president – but Democrats think his so-called “big beautiful bill” is a political opportunity.

The party is planning a nationwide summer blitz of campaigning, with the goal of forcing vulnerable Republicans to defend Trump’s tax breaks and spending cuts.

In particular, Democrats are hoping to point out Medicaid cuts that will leave millions of Americans without health care coverage.

Republican leaders, meanwhile, have encouraged their members to promote more popular aspects of the bill during smaller controlled appearances where officials are less likely to face difficult questions or protests, according to the Associated Press.

What are Democrats planning?

The Democratic National Committee’s “Organising Summer” will feature events in all 50 states, beginning with Alaska, Texas, Colorado and California over the coming week.

The party’s message will be reinforced by online advertising and billboard trucks at state and county fairs in the coming days, targeting vulnerable House Republicans in Pennsylvania, Michigan and New Jersey, among other states.

“As Democrats, our job is to ensure that every American across the country understands the devastating impacts of this bill,” DNC chair Ken Martin said. “Democrats will be holding events, highlighting Republican hypocrisy, and ensuring Americans across the country know exactly who is responsible for taking away health care, food, construction jobs, and nursing homes in order to give massive handouts to billionaires.”

The battle to come

The massive Republican-backed tax and spending package that Trump called “big” and “beautiful” was signed into law on 4 July.

It could now define next year’s midterm elections, which will decide who controls Congress for Trump’s final two years in office.

Republicans are touting the bill as a tax cut for all Americans, but polling suggests US adults have been slow to embrace the measures – which will add $3.4trn to federal deficits through 2034, leave more than another 10 million people without health insurance and leave millions of others without food stamps, according to the nonpartisan Congressional Budget Office.

Suggestions in a Republican national memo encouraging members to promote the bill over the summer include:

“Visit a local hospital and discuss how you voted for no tax on overtime;”

“Stop by a restaurant to highlight your vote on no tax on tips”;

And “work the counter at a local store and chat about your work to lower costs”.

Democrats, though, are confident of winning the argument on the law change.

“The big, ugly law is a political disaster,” said Viet Shelton, spokesman for the House Democrats’ campaign arm. “Everyone hates it and vulnerable House Republicans know it, which is why they’re scared to face their constituents in person during the August recess.”

Source: News.sky.com | View original article