Trump escalates commerce battle with Canada following Palestine stance
Good morning and welcome to our rolling protection of US politics as Donald Trump intensified his commerce battle with Canada a day forward of his 1 August deadline for a tariff settlement.
The president posted on his Reality Social platform:
Wow! Canada has simply introduced that it’s backing statehood for Palestine. That may make it very onerous for us to make a Commerce Take care of them. Oh’ Canada!!!
Trump is about to impose a 35% tariff on all Canadian items not coated by the US-Mexico-Canada commerce settlement if the 2 international locations don’t attain an settlement by the deadline.
Canadian prime minister Mark Carney beforehand mentioned tariff negotiations with Washington had been constructive, however the talks could not conclude by the deadline. Canada is the second-largest US buying and selling accomplice after Mexico, and the biggest purchaser of US exports.
We’ll be bringing you all of the developments on this story at this time. In different information:
Key occasions
Lauren Aratani
The US Federal Reserve left its benchmark rate of interest unchanged on Wednesday, even amid intense stress from Donald Trump to decrease charges.
Regardless of an onslaught of attacks from the White Home in opposition to the Fed, officers on the central financial institution mentioned that financial “uncertainty” stays too excessive to decrease charges.
However two of the Fed’s governors voted in opposition to the choice – the primary time that a number of governors have voted in opposition to the bulk since 1993. Governors Christopher Waller and Michelle Bowman, each appointed by Trump, needed charges to be lowered. Each have been floated as potential replacements for Fed chair Jerome Powell.
Knowledge launched on Wednesday underlined the resilience of the US economy, which bounced again quicker than anticipated within the second quarter. US gross home product (GDP) grew at an annual fee of three% within the second quarter of 2025, in response to the newest official knowledge, forward of the common 2.5% forecast from economists.
This marked a major acceleration from a 0.5% contraction within the first quarter, which was dragged down by a surge of imports as corporations tried to get forward of Trump’s tariffs. However the rebound was boosted by a 30% droop in imports.
Trump used the information to as soon as once more name for a fee reduce and once more insulted Powell, whom he has nicknamed “Too Late”. “2Q GDP JUST OUT: 3%, WAY BETTER THAN EXPECTED! ‘Too Late’ MUST NOW LOWER THE RATE. No Inflation! Let folks purchase, and refinance, their houses!” he wrote on Truth Social.
President Donald Trump on Wednesday slapped a 50% tariff on most Brazilian items to struggle what he has known as a “witch hunt” in opposition to former president Jair Bolsonaro, however softened the blow by excluding sectors equivalent to plane, vitality and orange juice from heavier levies.
Trump introduced the tariffs, among the steepest levied on any financial system within the US commerce battle, as his administration additionally unveiled sanctions on the Brazilian supreme court docket justice who has been overseeing Bolsonaro’s trial on fees of plotting a coup, Reuters reported.
“Alexandre de Moraes has taken it upon himself to be decide and jury in an illegal witch hunt in opposition to US and Brazilian residents and firms,” Treasury secretary Scott Bessent mentioned in a press release.
Bessent mentioned Moraes “is liable for an oppressive marketing campaign of censorship, arbitrary detentions that violate human rights, and politicized prosecutions” together with in opposition to former president Jair Bolsonaro.”
Final week, the Brazilian justice levied search warrants and restraining orders in opposition to Bolsonaro over allegations he courted Trump’s interference in his legal case, wherein he’s accused of plotting to cease President Luiz Inacio Lula da Silva from taking workplace in 2023.
The Trump administration is pushing an initiative for thousands and thousands of People to add private well being knowledge and medical data on new apps and programs run by non-public tech corporations, promising simpler to entry well being data and wellness monitoring.
The brand new system will deal with diabetes and weight administration, conversational synthetic intelligence that helps sufferers, and digital instruments equivalent to QR codes and apps that register sufferers for check-ins or monitor medicines.
The initiative, spearheaded by an administration that has already freely shared extremely private knowledge about People in ways in which have examined authorized bounds, might put sufferers’ wishes for extra comfort at their physician’s workplace on a collision course with their expectations that their medical info be stored non-public.
“There are monumental moral and authorized issues,” mentioned Lawrence Gostin, a Georgetown College legislation professor who makes a speciality of public well being. “Sufferers throughout America needs to be very apprehensive that their medical data are going for use in ways in which hurt them and their households.”
President Donald Trump mentioned that the USA has accomplished little or no enterprise with India, and that Russia and the US do virtually no enterprise collectively.
“I don’t care what India does with Russia”, he mentioned in a Reality Social put up on Thursday, including that “they’ll take their lifeless economies down collectively, for all I care”.
In an earlier Reality Social put up on Wednesday Trump talked about India’s commerce with Russia when saying the US would impose a 25% tariff on items imported from India beginning on Friday.
In response to the sooner Reality Social put up, the Indian authorities mentioned it was finding out the implications of Trump’s bulletins and remained devoted to securing a good commerce deal.
Trump mentioned that India has all the time purchased a overwhelming majority of their army gear and vitality from Russia, which was “not good”.
The US tariff fee on Malaysian items shall be introduced on Friday, Malaysian premier Anwar Ibrahim mentioned on Thursday after chatting with US president Donald Trump.
Malaysia is dealing with a 25% tariff on its exports to the USA until a take care of Washington is reached by Friday.
The 2 international locations have held a number of rounds of talks, with Malaysia’s commerce minister saying a number of sticking factors remained, notably on non-trade limitations.
Anwar mentioned he mentioned tariffs “within the spirit and precept of free commerce” throughout a cellphone dialog with Trump early on Thursday.
President Donald Trump mentioned on Wednesday the US will cost a 15% tariff on imports from South Korea, down from a threatened 25%, as a part of a deal that eases tensions with a top-10 buying and selling accomplice and key Asian ally.
South Korea additionally agreed to take a position $350 billion in the USA in initiatives chosen by Trump and to buy vitality merchandise price $100 billion, Reuters reported.
The association, introduced after Trump met with Korean officers on the White Home, got here throughout a blizzard of commerce coverage bulletins. Many international locations are speeding to chop offers forward of 1 August, when Trump has promised greater tariffs will kick in.
“I’m happy to announce that the USA of America has agreed to a Full and Full Commerce Take care of the Republic of Korea,” Trump wrote on Reality Social.
The negotiations had been an early check for South Korean president Lee Jae Myung, who took workplace in June after a snap election. He mentioned the deal eradicated uncertainty and set US tariffs decrease than or on the identical degree as main rivals.
“Now we have crossed an enormous hurdle,” Lee mentioned in a Fb put up. Trump mentioned Lee would go to the White Home “inside the subsequent two weeks” for his first assembly with the U.S. president.
South Korea will settle for American merchandise, together with autos and agricultural items into its markets and impose no import duties on them, Trump added.
South Korea’s high officers mentioned the nation’s rice and beef markets wouldn’t be opened additional, and discussions over US calls for on meals laws proceed.
Trump escalates commerce battle with Canada following Palestine stance
Good morning and welcome to our rolling protection of US politics as Donald Trump intensified his commerce battle with Canada a day forward of his 1 August deadline for a tariff settlement.
The president posted on his Reality Social platform:
Wow! Canada has simply introduced that it’s backing statehood for Palestine. That may make it very onerous for us to make a Commerce Take care of them. Oh’ Canada!!!
Trump is about to impose a 35% tariff on all Canadian items not coated by the US-Mexico-Canada commerce settlement if the 2 international locations don’t attain an settlement by the deadline.
Canadian prime minister Mark Carney beforehand mentioned tariff negotiations with Washington had been constructive, however the talks could not conclude by the deadline. Canada is the second-largest US buying and selling accomplice after Mexico, and the biggest purchaser of US exports.
We’ll be bringing you all of the developments on this story at this time. In different information:
