Following the US’s imposition of tariffs, French Prime Minister Gabriel Attal has criticized the US-EU trade relationship, labeling a potential agreement as “submission.” Attal argued that the US tariffs are a threat to European sovereignty and economic interests. He emphasized the need for Europe to stand its ground and avoid being forced into a trade deal that would disadvantage the continent. The Prime Minister declared the current situation a difficult moment for Europe, signaling a clear stance against the US’s trade policies.
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The U.S. Commerce Department has imposed anti-dumping duties of 20.56% on Canadian softwood lumber, sparking criticism from B.C. lumber organizations and government officials who view the move as unjustified and protectionist amidst a growing trade war. This decision is expected to significantly impact B.C.’s forestry industry, already struggling with challenges like mill closures and job losses. The B.C. government is urging the federal government to prioritize the softwood lumber industry in trade discussions with the U.S. The implications extend to U.S. consumers, potentially leading to increased home-building costs due to higher lumber prices. Furthermore, the U.S. has initiated a federal investigation into U.S. lumber and timber imports citing national security.
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Canadian Prime Minister Mark Carney has stated that Canada will not accept a “bad deal” in its trade negotiations with the United States, amidst escalating tariffs imposed by the Trump administration. The US has already implemented tariffs on Canadian goods, including steel and aluminum, prompting Canada to consider counter-measures to protect its key industries and overall economy. The deadline of August 1st looms as President Trump threatens new tariffs, further straining the relationship between the two major trading partners. The Canadian government is focused on securing a trade agreement that benefits Canadians, not simply reaching a deal regardless of the terms.
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Almost 30% of German companies postpone US investments, survey shows, and this paints a complex picture of international business in a time of economic and political uncertainty. It seems that a significant chunk of German businesses are hitting the pause button on their plans for expansion and investment in the United States. This hesitation could eventually translate into cancelled investments, essentially drying up funding for projects that could have boosted the American economy.
The data indicates a substantial shift in sentiment. Approximately 29% of German companies have reduced their investments, alongside the nearly 30% postponing new ones. When we add the 15% that have cancelled investments outright, we see a large portion of German companies are taking a more cautious approach to the U.S.… Continue reading
On Tuesday, former President Trump announced a significant trade agreement with Japan, highlighting a 15% tariff rate and $550 billion in investments, as detailed on his Truth Social platform. However, discrepancies arose when comparing his statements to a photo of a card detailing the agreement, which showed a 10% tariff with an added 15% on specific industries and an initial investment figure of $400 billion that was later altered. The White House has not clarified these inconsistencies, although the Treasury Secretary stated Japan received a 15% rate due to its offering of guarantees for U.S. projects. Meanwhile, experts suggest the investment plan might be viewed differently by Japanese officials, raising concerns about the implementation of the deal.
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Following a meeting at the White House, President Donald Trump announced a new trade agreement with Philippine President Ferdinand Marcos Jr., lowering U.S. tariffs while allowing the Philippines to have an open market without U.S. tariffs. The framework of the deal aims to strengthen economic and security ties amidst shifting geopolitical dynamics in the Indo-Pacific region. The leaders also discussed military cooperation, with the U.S. reaffirming its commitment to the Philippines. This meeting signifies the importance of the alliance in the face of increasing tensions in the South China Sea.
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Jeep maker Stellantis says it will lose $2.7 billion due partly to tariffs. That’s a hefty chunk of change, and it’s got a lot of people talking – and not always kindly. For those unfamiliar, Stellantis is a global automotive giant, the parent company of some pretty recognizable brands like Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, Maserati, and Ram. So, when they announce a financial hit this significant, it definitely gets noticed.
The company itself is pointing the finger, at least partially, at tariffs imposed on vehicles imported into the United States. Specifically, these are tariffs of 25% on vehicles and auto parts, which went into effect on April 2nd.… Continue reading
President Trump has increased his demands in trade talks with the European Union as the August 1 deadline approaches, according to sources familiar with the negotiations. Discussions have stalled, with the EU seeking a deal similar to the UK’s, which maintained a 10% tariff. Trump has expressed concern over the EU’s trade surplus with the U.S., while EU officials argue for a more balanced view including services and investments.
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President Luiz Inácio Lula da Silva responded to Donald Trump’s tariff threats, stating that Trump was elected to lead the U.S., not the world. Trump threatened Brazil with 50% tariffs, linking it to the trial of former President Jair Bolsonaro. Lula stated that Brazil would not accept imposition and would enact reciprocal tariffs, while also expressing a willingness to negotiate with Washington. The U.S. has since launched an investigation into Brazil’s trading practices, further escalating the tensions between the two countries.
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John Q. Hosedrinker 
Matt Underwood