Tariffs

China Weaponizes Rare Earth Mineral Monopoly

pgnewser August 12, 2025 0

China Limits Critical Mineral Supplies to Western Defense Manufacturers– legalinsurrection.com
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Our amazing Leslie Eastman has been reporting on this subject since January:

Defense manufacturers must “stop buying rare-earth magnets that contain China-sourced minerals by 2027.”

Well…it looks like China will make that happen before 2027.

The Wall Street Journal reported that China is now limiting the flow of critical minerals to Western defense manufacturers:

Earlier this year, as U.S.-China trade tensions soared, Beijing tightened the controls it places on the export of rare earths. While Beijing allowed them to start flowing after the Trump administration agreed in June to a series of trade concessions, China has maintained a lock on critical minerals for defense purposes. China supplies around 90% of the world’s rare earths and dominates the production of many other critical minerals.

As a result, one drone-parts manufacturer that supplies the U.S. military was forced to delay orders by up to two months while it searched for a non-Chinese source of magnets, which are assembled from rare earths.

Certain materials needed by the defense industry now go for five or more times what was typical before China’s recent mineral restrictions, according to industry traders. One company said it was recently offered samarium—an element needed to make magnets that can withstand the extreme temperatures of a jet-fighter engine—for 60 times the standard price. That is already driving the cost of defense systems higher, say suppliers and defense executives.

As Trump announces new tariffs, here’s a price tracker for cars, groceries and more supplies– www.cbsnews.com

pgnewser August 4, 2025 0

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CBS News is tracking the rising cost of products, including those most likely to be impacted by tariffs imposed earlier this year and new ones announced by President Trump on August 1, from the cost of common grocery items to the price of owning a vehicle.

Economists and other experts say consumers can expect to see higher prices in coming weeks and months for imported items.

Perhaps the most impacted day-to-day purchases for American families will be at the grocery store, where a large share of our most commonly purchased fruits and vegetables are imported from Mexico, Canada, China and other countries facing tariffs. Experts suggest the cost of those tariffs will be passed on to consumers in the grocery checkout lane.

The categories in this tracker reflect a selection from the U.S. Bureau of Labor Statistics’ Consumer Price Index and average price data. We focused on goods and services that make up a meaningful share of household budgets and have noted with a special orange marker those that could be affected most by tariffs.

India Gets Russian Tariff Penalty of 25%

pgnewser July 30, 2025 1

Trump announces 25% tariffs on India over ties to Russia– www.washingtonexaminer.com
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President Donald Trump announced on Wednesday morning that he is authorizing 25% tariffs on India, which will take effect Aug. 1, due to the country’s import of Russian energy and military equipment.

“Remember, while India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country,” the president said in a post on Truth Social.

“Also, they have always bought a vast majority of their military equipment from Russia, and are Russia’s largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE — ALL THINGS NOT GOOD! INDIA WILL THEREFORE BE PAYING A TARIFF OF 25%, PLUS A PENALTY FOR THE ABOVE, STARTING ON AUGUST FIRST,” he continued.

The Trump Economy Is Booming, and the Panicans Are Shattered– townhall.com

pgnewser July 30, 2025 0

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The inability to get Trump, for lack of a better term, reared its head again, as the legacy media and the panicans were left shattered and bloody over the latest economic report. They were lusting for a recession. They were hoping the tariffs would increase prices—neither of those things happened. Instead, what we got was a robust report of three percent economic growth in the second quarter. The experts were wrong again. They were off about inflation, tariffs—when will they hide away in a cave in abject shame? You don’t get it. You never will, and it’s time to admit you’ll never beat Trump, ever. Also, Powell, cut the rates, a sentiment echoed in White House Press Secretary Karoline Leavitt’s statement on today’s robust economic news:

 

Today, GDP growth came in above market expectations, and yesterday, consumer confidence rose. Americans trust in President Trump’s America First economic agenda that continues to prove the so-called ‘experts’ wrong. President Trump has reduced America’s reliance on foreign products, boosted investment in the US, and created thousands of jobs — delivering on his promise to Make America Wealthy Again. The data is clear, and there are no more excuses — now is the time for ‘too late’ Powell to cut the rates!”

‘He Doesn’t Love This Country’: Bill O’Reilly Torches Chuck Schumer Over Claim Trump’s EU Trade Deal Is ‘Fake’– dailycaller.com

pgnewser July 30, 2025 0

 

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Former Fox News host Bill O’Reilly on Tuesday condemned Senate Minority Leader Chuck Schumer on his show, “No Spin News,” after he called President Donald Trump’s trade deal with the European Union “fake.”

Schumer on Monday delivered remarks on the Senate floor criticizing the agreement and rebutting Trump’s claim that it was the “biggest deal ever” in a clip O’Reilly played. In a video of the show posted on O’Reilly’s YouTube channel, the host accused Schumer of “lying” and said he does not believe the senator loves the United States or cares for its citizens. (RELATED: Howard Lutnick Reveals How Trump Admin Secured Massive Trade Deal With Japan)

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“Trump would have you believe it’s the ‘biggest deal ever,’ that’s his words, dangling $250 billion of new energy purchases and more in new investments,” Schumer said in the clip. “There’s just one hiccup – it’s fake.”

“No, it’s not. Schumer is lying. And I very rarely use that word. I usually say he’s misleading or he’s a propagandist, which he is,” O’Reilly said after playing the clip. “But he’s just lying. He’s just head down, reading something that’s been written for him by one of his propaganda people.”

Trump’s EU Trade Deal Was So Tremendous, American Media Outlets Are Criticizing It for Being Too Good– www.westernjournal.com

pgnewser July 30, 2025 0

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The mainstream media’s reaction to President Donald Trump’s trade agreement with the European Union was priceless, as multiple outlets had to admit he got the better end of the deal and achieved a huge victory.

Axios led the way with an article titled “Trump trade deals prove access to the U.S. still matters above all else,” stating that “in the Trump-dominated global economy, the U.S. gets plenty but gives nothing in return.”

They also highlighted “how far foreign leaders will go to safeguard access to the U.S. market,” and called the massive investments from the EU “eye-popping.”

The deal imposes a 15 percent tariff on almost all goods entering the U.S. from the E.U. and requires them to make massive investments in American energy.

Ursula von der Leyen, president of the E.U.’s European Commission, said Europe will purchase $750 billion worth of U.S. energy as part of the deal, in addition to making $600 billion of investments in other U.S. endeavors.

The New York Times seemed dumbfounded with their Tuesday headline: “Europe Made Major Trade Concessions to Trump. How Did That Happen?”

NBC Implies EU Deal Was Done as a Distraction from Epstein– www.newsbusters.org

pgnewser July 28, 2025 0

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A weird A-block report on NBC’s Sunday Nightly News makes crystal clear the urgency of narrative for the legacy media. In this instance, a dirty frame sets up a palette cleanser following the lead story- the consequential trade agreement between the United States and Europe announced at President Donald Trump’s Turnberry resort in Scotland.

Watch as Sunday anchor Hallie Jackson repurposes the “distraction from Epstein” narrative in order to reclaim viewer focus:

HALLIE JACKSON: Even overseas, the president

Trump Says He’s ‘Thinking About’ Sending Tariff-Funded Rebate Checks To Americans– dailycaller.com

pgnewser July 25, 2025 0

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President Donald Trump said on Friday that he was contemplating sending rebate checks to Americans using tariff revenue.

The U.S. government ran a $27 billion budget surplus in June, fueled partly by record tariff revenue, which exceeded $100 billion for the first time in a fiscal year, Reuters reported. When a reporter asked Trump at the White House if there was a chance of a rebate for Americans due to the revenue, the president said his administration was prioritizing paying off debt, but that a small rebate for some Americans was possible. (RELATED: Trump Locks In China Trade Deal, Keeps Pressure On Beijing)

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“We’re thinking about that, actually. We have so much money coming in,” Trump said. “We’re thinking about a little rebate, but the big thing we want to do is pay down debt. But we’re thinking about a rebate.”

“That’s a very good question. You just made a lot of news,” he continued. “We’re thinking about a rebate because we have so much money coming in from tariffs that a little rebate for people of a certain income level might be very nice.”

Trump Says He May Send Rebate Checks to ‘People of a Certain Income Level’– www.westernjournal.com

pgnewser July 25, 2025 0

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President Donald Trump said Friday that his administration is considering issuing rebate checks to some Americans due to the massive revenue surge from tariffs.

“We have so much money coming in,” Trump told reporters from the White House. “We’re thinking about a little rebate.”

He emphasized that his primary goal remains putting the country on a course toward fiscal responsibility.

“But the big thing we want to do is pay down debt,” he said. “But we’re thinking about a rebate.”

As reporters pressed for further details, Trump praised one in particular for starting what he categorized as an important discussion Americans might hear more of.

“That’s a very good question,” he said. “You just made a lot of news.”

Volkswagen posts 29% drop in second-quarter profit as tariffs hit hard– www.cnbc.com

pgnewser July 25, 2025 0

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A worker performs a final check on new Volkswagen ID.3 electric cars at the Volkswagen plant on May 14, 2025 in Dresden, Germany.

Sean Gallup | Getty Images News | Getty Images

Germany’s Volkswagen on Friday lowered its full-year guidance and reported a sharp drop in second-quarter profit, as the auto giant navigates the disruptive impact of U.S. tariffs.

Europe’s biggest carmaker posted operating profit of 3.83 billion euros ($4.49 billion) for the three months through June, down 29% from 5.4 billion euros a year ago.

Analysts had expected second-quarter profit to come in at 3.94 billion euros, according to a Factset-compiled consensus.

Philippines hopes to further lower tariff rate to around 15%, says ambassador to US– www.channelnewsasia.com

pgnewser July 25, 2025 0

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Romualdez told CNA’s Asia First: “Obviously, the special relations that we have with the United States on our defence alliance is an important part of this whole equation.

“However, like I said, it is still not a completely done deal as pointed out, because we still have time to be able to look into possibilities of bringing it lower.”

In terms of how Manila’s security cooperation with Washington influenced the economic terms of the deal, as well as the meeting between Trump and Marcos, Romualdez noted that both countries have inked several security agreements with commercial components.

“The US Congress had just approved that an ammunition manufacturing facility will be established in the Philippines. That … will create jobs,” he said.

Mexico doing ‘everything’ to avoid 30% US tariffs: Thursday’s mañanera recapped– mexiconewsdaily.com

pgnewser July 25, 2025 0

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At her Thursday morning press conference, President Claudia Sheinbaum spoke about her government’s efforts to stave off new U.S. tariffs that are due to take effect next week.

She also spoke about two significant reductions: one in the amount of fentanyl seized by U.S. authorities at the Mexico-U.S. border and another in the prevailing inflation rate in Mexico.

Here is a recap of the president’s July 24 mañanera.

Japan markets rally on the country’s 15% tariff rate– www.cnbc.com

pgnewser July 25, 2025 0

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The anchoring effect is one of the sneakiest tools companies use to make us spend money.

Here’s how it works. Let’s say we’re shopping for a smartphone manufactured by Dapple, which has just released two new models: a $1,200 model with a big screen and a $900 one that is more compact. The more expensive smartphone will serve as the “anchor” by which we make comparisons, so the $900 model will appear to be value for money — even if it is costly in absolute terms. But we’re likely to feel good about choosing it because we’ve “saved” $300 on our purchase.

This scenario seems to be what’s happening with the U.S-Japan trade agreement freshly announced late Tuesday stateside. U.S. President Donald Trump said Washington would gain access to Japan’s markets for rice and cars — which had been sticking points during negotiations — while the latter would see 15% tariffs on its exports to America.

At first glance, that doesn’t sound too positive for Japan. But investors celebrated the news — the Nikkei 225 jumped 3.8% at 1:45 a.m. ET. After all, a 15% tariff rate is a big improvement from the 25% tariff Trump slapped on Tokyo earlier this month. Furthermore, Japanese auto exports to the U.S. — which made up 28.3% of all shipments in 2024 — will face a tariff of 15%, lower than the universal 25% other countries are subject to.

As Brian Jacobsen, chief economist at Annex Wealth Management, said, “It’s a sign of the times that markets would cheer 15% tariffs. A year ago, that level of tariffs would be shocking. Today, we breathe a sigh of relief.” That, in essence, is the anchoring effect at play.

Will China’s Rare Earth Dominance Die in Wyoming?

pgnewser July 25, 2025 0

Wyoming’s New Rare-Earth Mine Could End China’s Monopoly – Daily Signal

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The first new U.S. rare-earth mine in 70 years broke ground this month in Wyoming.

Ramaco Brook Mine, which contains 1.7 million tons of rare earth minerals, is a “groundbreaking discovery” that “marks a turning point for America,” the Department of Energy announced.

U.S Inks Tariff Deal with Japan, Includes Market Access for U.S. Auto Dealers

pgnewser July 25, 2025 0

BREAKING: Trump announces ‘massive’ trade deal with Japan, includes $550 billion investment in US | The Post Millennial– thepostmillennial.com
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Trump said Japan will invest $550 billion into the US economy and that the United States will receive 90% of the profits from the deal.

President Donald Trump announced on Tuesday evening that a new trade agreement has been finalized between the United States and Japan, calling it “perhaps the largest Deal ever made.”

In a post on Truth Social, Trump said Japan will invest $550 billion into the US economy and that the United States will receive 90% of the profits from the deal. The president says the agreement would generate “Hundreds of Thousands of Jobs” and significantly expand trade between the two countries.

“We just completed a massive Deal with Japan, perhaps the largest Deal ever made. Japan will invest, at my direction, $550 Billion Dollars into the United States, which will receive 90% of the Profits. This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it. Perhaps most importantly, Japan will open their Country to Trade including Cars and Trucks, Rice and certain other Agricultural Products, and other things. Japan will pay Reciprocal Tariffs to the United States of 15%. This is a very exciting time for the United States of America, and especially for the fact that we will continue to always have a great relationship with the Country of Japan. Thank you for your attention to this matter!” the post reads.

Trump China tariff deadline likely to be extended, Bessent says– www.cnbc.com

pgnewser July 22, 2025 0

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Treasury Secretary Scott Bessent on Tuesday said he is likely to hash out an extension of President Donald Trump‘s upcoming trade deadline with China when he meets with his Chinese counterparts in Stockholm, Sweden, next week.

The two sides in mid-May agreed to a 90-day suspension of most of the heavy tariffs on each others’ goods while they continued trade negotiations. That suspension is set to expire on Aug. 12.

But “we’ll be working out what is likely an extension” during talks in Stockholm on Monday and Tuesday, Bessent said in a Fox Business interview.

“I think trade is in a very good place with China,” he said.

Swedish Prime Minister Ulf Kristersson later Tuesday morning confirmed that his country would host the latest round of talks between Washington and Beijing.

“It is positive that both countries wish to meet in Sweden to seek mutual understanding,” Kristersson said on X in a translated post.

WATCH LIVE: President Trump Takes Questions While Hosting the President of the Philippines to Discuss Trade and August 1 Tariff Deadline – 11:15 AM ET | The Gateway Pundit– www.thegatewaypundit.com

pgnewser July 22, 2025 0

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President Trump is hosting Philippine President Ferdinand Marcos Jr. this afternoon at the White House amid Trump’s threat to impose 20% tariffs on imports from the Southeast Asian island nation. 

Marcos also met with Defense Secretary Pete Hegseth this morning to discuss the military alliance between the United States and Philippines, as well as China.

Trade will be the top item on the agenda for Marcos’s meeting with the President of the United States.

In a letter, dated July 9, Trump put President Marcos on notice of the “significant Trade Deficit,” warning that tariffs of 20% will be charged starting on August 1, unless Philippine companies build and manufacture in the United States or the Philippines reduces trade barriers.

“If for any reason you decide to raise your Tariffs, then, whatever the number you choose to raise them by, will be added onto the 20% that we charge,” President Trump warned.

“If you wish to open your heretofore closed Trading Markets to the United States, and eliminate your Tariff, and Non-Tariff, Policies and Trade Barriers, we will, perhaps, consider an adjustment to this letter.”

Wall Street benefits from Trump trade war with record revenue surge– www.washingtonexaminer.com

pgnewser July 17, 2025 0

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Wall Street experienced a record-breaking revenue surge in the year’s second quarter, investment bank Goldman Sachs announced Wednesday morning, following the market uncertainty caused by President Donald Trump’s “Liberation Day” tariffs in April.

Goldman Sachs’s trading revenue for the second quarter was $4.3 billion, $600 million higher than expectations and $100 million above the first quarter’s total, which was also a record. The company’s total revenue jumped 15% to $14.58 billion, a billion dollars more than what analysts expected. A similar upward trend was seen in the bank’s profit, which rose 22% to $3.72 billion.

“The economy and markets are generally responding positively to the evolving policy environment,” Goldman Sachs CEO David Solomon said. “But as developments rarely unfold in a straight line, we remain very focused on risk management.”

JPMorgan Chase, Citigroup, and Morgan Stanley also reported sizable increases in trading revenue, indicating that Wall Street has benefited from the tariff upheaval, despite market volatility.

After Trump’s tariffs took effect in early April, the stock market index S&P 500 took a drastic dive within minutes. Once an erroneous report indicated Trump was considering a 90-day pause on his “Liberation Day” tariffs, the S&P 500 added $3 trillion within 10 minutes. The White House quickly denied the report, calling it “wrong” and “fake news.”

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Wall Street experienced a record-breaking revenue surge in the year’s second quarter, investment bank Goldman Sachs announced Wednesday morning, following the market uncertainty caused by President Donald Trump’s “Liberation Day” tariffs in April.

Goldman Sachs’s trading revenue for the second quarter was $4.3 billion, $600 million higher than expectations and $100 million above the first quarter’s total, which was also a record. The company’s total revenue jumped 15% to $14.58 billion, a billion dollars more than what analysts expected. A similar upward trend was seen in the bank’s profit, which rose 22% to $3.72 billion.

“The economy and markets are generally responding positively to the evolving policy environment,” Goldman Sachs CEO David Solomon said. “But as developments rarely unfold in a straight line, we remain very focused on risk management.”

JPMorgan Chase, Citigroup, and Morgan Stanley also reported sizable increases in trading revenue, indicating that Wall Street has benefited from the tariff upheaval, despite market volatility.

After Trump’s tariffs took effect in early April, the stock market index S&P 500 took a drastic dive within minutes. Once an erroneous report indicated Trump was considering a 90-day pause on his “Liberation Day” tariffs, the S&P 500 added $3 trillion within 10 minutes. The White House quickly denied the report, calling it “wrong” and “fake news.”

Once traders learned of the denial, the S&P 500 lost $2.5 trillion in five minutes. A similar pattern was seen in the Nasdaq and Dow Jones.

Soon after the higher “Liberation Day” tariffs took effect, Trump implemented a 90-day pause that ended earlier this month. The pause was made to allow time for foreign trading partners to negotiate with the United States on trade deals.

Trump has so far announced trade deals with the United Kingdom, China, Vietnam, and Indonesia.

The president’s pattern of threatening tariffs and then pausing them or extending the deadline to negotiate has caught the attention of traders, who have created the “Trump always chickens out,” or TACO, strategy to capitalize on it.

Trump disputed TACO, which holds that Wall Street should “buy the dip” following immediate panic caused by a new tariff announcement, considering the perception that Trump will back off on his tariff threats. Trump said his strategy is simply a negotiation tactic.

“We have the hottest country anywhere in the world … Six months ago, this country was stone-cold dead. We had a dead country. We had a country, people didn’t think it was going to survive, and you ask a nasty question like that,” he told reporters in May.

EU DELAYING RETALIATORY TARIFFS AHEAD OF TRUMP’S AUG. 1 DEADLINE

“It’s called negotiation. You set a number. And if you go down, if I set a ridiculous high number and I go down a little bit, a little bit, they want me to hold that number, 145% tariff. Even I said, ‘Man, that really got up,’” Trump said, adding he brought down the said tariff rate after negotiations.

Trump is proceeding with implementing his next phase of tariffs on Aug. 1, including a 30% tariff imposed on the European Union. The 27-member bloc delayed its retaliatory tariffs this week amid negotiations with the U.S. in the hopes of reaching a trade deal before the new tariff deadline.

President Trump Announces Latest Trade Deal– wltreport.com

pgnewser July 17, 2025 0

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President Trump on Tuesday announced the United States reached a trade agreement with Indonesia.

“This morning I finalized an important Deal with the Republic of Indonesia after speaking with their Highly Respected President Prabowo Subianto. This landmark Deal opens up Indonesia’s ENTIRE MARKET to the United States for the first time in History,” Trump announced.

“Thank you to the People of Indonesia for your friendship and commitment to balancing our Trade Deficit. We will keep DELIVERING for the American People, and the People of Indonesia!” he added.

Trump tariffs didn’t cause rising inflation, but the Federal Reserve will pause regardless– www.washingtonexaminer.com

pgnewser July 17, 2025 0

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… The White House has launched an investigation into the Biden autopen scandal. The investigation is being led by the White House Counsel’s Office; however, they are coordinating with the Justice Department.

[S]enior administration officials telling Fox News Digital that they already are reviewing tens of thousands of documents turned over by the National Archives and Records Administration (NARA). [….]

A senior administration official told Fox News Digital that they are not yet ready to discuss any discoveries, but said NARA already has provided more than 27,000 records to the White House.

The White House is reviewing the communications and the procedures in place around the use of the autopen. But there’s a lot to go through.

BRICS group condemns increase of tariffs in summit overshadowed by Middle East tensions– www.euronews.com

pgnewser July 9, 2025 0

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The BRICS bloc of developing nations at their summit in Brazil on Sunday condemned the increase of tariffs and attacks on Iran, but refrained from naming US President Donald Trump.

The group’s declaration, which also took aim at Israeli military actions in the Middle East, spared its founding member Russia from criticism and mentioned war-torn Ukraine only once.

The bloc issued a declaration in which they raised “serious concerns” about the rise of tariffs which it said were “inconsistent with WTO (World Trade Organisation) rules.” In an indirect swipe at the US, they said those restrictions ”threaten to reduce global trade, disrupt global supply chains and introduce uncertainty.”

Lula also criticised NATO’s decision to hike defence spending up to 5% of member states’ GDP. He said it was “always easier to invest in war than peace.”

The declaration also criticised the attacks on Iran without mentioning the US or Israel, the two nations who conducted them.

BRICS leaders expressed “grave concern” for the humanitarian situation in Gaza, called for the release of all hostages, a return to the negotiating table and reaffirmed their commitment to the two-state solution.

The group’s 31-page declaration mentions Ukraine just once, while condemning “in the strongest terms” recent Ukrainian attacks on Russia.

Trump trade war, Middle East tensions overshadow BRICS summit – National– globalnews.ca

pgnewser July 9, 2025 0

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Brazil is playing host to a summit of the BRICS bloc of developing economies Sunday and Monday during which pressing topics like Israel’s attack on Iran, the humanitarian crisis in Gaza and trade tariffs imposed by U.S. President Donald Trump are expected to be handled with caution.

Analysts and diplomats have said the lack of cohesion in an enlarged BRICS, which doubled in size last year, may affect its ability to become another pole in world affairs. They also see the summit’s moderate agenda as an attempt by member countries to stay off Trump’s radar.

Brazil’s President Luiz Inácio Lula da Silva has some of his priorities, such as debates on artificial intelligence and climate change, front and centre for the talks with key leaders not in attendance.

Lula said in his speech on Sunday that “we are witnessing the unparalled collapse of multilateralism” and that the meeting is taking place “in the most adverse global scenario” of the four times Brazil has hosted it. He called for the group to promote peace and mediate conflicts.

Brazil hosts BRICS summit, eager to avoid provoking Trump’s ire– abcnews.go.com

pgnewser July 9, 2025 0

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RIO DE JANEIRO — Brazil will play host to a summit of the BRICS bloc of developing economies Sunday and Monday during which pressing topics like Israel’s attack on Iran, the humanitarian crisis in Gaza and trade tariffs imposed by U.S. President Donald Trump are expected to be handled with caution.

Analysts and diplomats said the lack of cohesion in an enlarged BRICS, which doubled in size last year, may affect its ability to become another pole in world affairs. They also see the summit’s moderate agenda as an attempt by member countries to stay off Trump’s radar.

Brazilian President Luiz Inácio Lula da Silva will have some of his priorities, such as debates on artificial intelligence and climate change, front and center for the talks with key leaders not in attendance.

China’s President Xi Jinping won’t attend a BRICS summit for the first time since he became his country’s leader in 2012. Russian President Vladimir Putin, who will make an appearance via videoconference, continues to mostly avoid traveling abroad due to an international arrest warrant issued after Russia invaded Ukraine.

The restraint expected in Rio de Janeiro marks a departure from last year’s summit hosted by Russia in Kazan, when the Kremlin sought to develop alternatives to U.S.-dominated payment systems which would allow it to dodge Western sanctions imposed after Russia’s full-scale invasion of Ukraine in February 2022.

Trump threatens additional tariffs on nations ‘aligning’ with ‘anti-American’ BRICS– thehill.com

pgnewser July 9, 2025 0

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President Trump threatened to impose an additional 10 percent tariff on countries “aligning” themselves with the BRICS bloc of developing nations.

“Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy. Thank you for your attention to this matter!” Trump wrote in a Truth Social post Sunday evening.

The threat comes after members of the BRICS group issued a declaration on Sunday condemning the U.S. increase in tariffs, as well as the strikes on Iran — all without mentioning Trump by name.

The group’s statement raised “serious concerns” tariffs, saying they are “inconsistent with WTO (World Trade Organization) rules” and threaten to “reduce global trade, disrupt global supply chains, and introduce uncertainty.”

Trump’s 50% tariff threat looms: EU considers temporary trade deal with US; Von der Leyen pushes for ‘agreement in principle’– timesofindia.indiatimes.com

pgnewser July 9, 2025 0

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The European Union is considering a temporary trade agreement with the United States that would maintain a 10 percent tariff on most exports, according to a briefing by the European Commission to EU ambassadors on Friday, reported news portal Politico.The update came after a key round of negotiations in Washington on Thursday, where EU trade commissioner Maroš Šefčovič aimed to defuse US President Donald Trump’s threat to impose a sweeping 50 percent tariff on all European imports starting July 9, if a deal is not reached.Talks will continue on potential exemptions for certain sectors, including the automotive industry, two national officials familiar with the discussions said, according to the news portal..However, the outcome was seen as underwhelming in several European capitals, especially after earlier signals from the Commission’s negotiating team that some industries could receive immediate tariff relief. The US currently imposes tariffs of 25 percent on cars and 50 percent on steel and aluminum imports.

EU remains divided

Despite intensive negotiations, reaching a consensus on a trade agreement with the United States remains challenging for European Commission President Ursula von der Leyen, amid ongoing divisions among EU member states over how to proceed. According to three diplomats, all possibilities, including a failure to reach any deal, are still being considered.In a fresh twist, US officials have reportedly threatened to impose a 17 percent tariff on European food imports, two national officials confirmed, backing a report by the Financial Times.Von der Leyen is expected to hold one-on-one consultations with EU leaders over the weekend before deciding on the bloc’s next steps, one official said. Meanwhile, Trump is likely to meet with his advisers on Monday, meaning any official announcement would be delayed until after those discussions.

US and China lift trade restrictions key for tech production– mashable.com

pgnewser July 9, 2025 0

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In the ongoing discussion of trade and tariffs, Politico and others reported that the US and China are following through on a deal to lift export restrictions on items essential for technology production.

Following the temporary trade deal between the two countries to slash tariffs back in May, talks continued in June as the US and China agreed to resume the flow of rare earth minerals and magnets (which are essential in civilian and military technology manufacturing) from China to the US Meanwhile, the US would lift export restrictions on items like chip software, ethane, and jet engines.