Trump Announces South Korea Trade Deal with 15% Import Tax
South Korea also agreed to invest $350 billion in the United States in projects selected by Trump and to purchase energy products worth $100 billion.
GLOBAL ECONOMIES
New Trade talks between China and US held in Sweden
The two countries hope to extend the 90-day pause on triple-digit tariffs negotiated during a meeting in Geneva in May.
Elon Musk confirms Tesla has signed a $16.5 billion chip contract with Samsung Electronics
“Samsung agreed to allow Tesla to assist in maximizing manufacturing efficiency
Brazil will respond to Trump’s 50% tariff with ‘reciprocity,’ says da Silva
Brazilian President Luiz Inácio Lula da Silva
Trump says rare earths deal ‘done’ with China
“Our deal with China is done, subject to final approval with President Xi and me,” Trump wrote.
World Bank predicts worst decade for global growth since 60s
Trump’s barrage of new tariffs on America’s trading partners to whittle down global economic growth
Lutnick says US-China trade talks going well on second day
Last month, Washington and Beijing agreed a temporary truce over trade tariffs but each country has since accused the other of breaching the deal.
Trump accuses China of ‘violating’ tariff truce
“So much for being Mr. NICE GUY!” the president said.
Hybrid leader Toyota targets major growth in plug-in vehicles amid industry’s EV uncertainty
Such cars can function as an all-electric vehicle for a certain number of miles before they need a traditional gas-powered engine.
Chinese-owned Volvo Cars to cut 3,000 jobs
The rest of the job losses would be in other global markets, said the firm. Most of the jobs being cut are office positions.