Donald Trump could make yet another turn on the duties, this time on 25% inflicted on cars.
Speaking with the reporters, the president suggested that they temporarily exempt the car manufacturers with rates to give them time to adapt their supply chains. “I am considering a solution that can help some car manufacturers in this sense,” he said explaining that they need time to transfer production from Canada, Mexico and other countries.
Matt Blunt, president of the American Automotive Policy Council (an association that represents Ford, General Motors and Stellantis), said that the group shares Trump’s objectives to increase national production. “There is a growing awareness that extended duties on the components could undermine our common goal of building a flourishing American car industry, and that many of these transitions of the supply chain will take time,” said Blunt.
Trump continues to sow chaos in his planetary commercial war, revealing that already This week will announce duties on semiconductorseven if there will be flexibility with some companies in the sector. This means that the exclusion of smartphones and computers with mutual rates with China will have short life. The president also confirmed that he will also affect drugs.
Moves that are part of the plan to bring strategic productions back to the USA, from chips to medicines, from steel to aluminum and cars. So as not to depend on foreign countries, let alone from China. All with a certain elasticity: “I do not change your mind, no country will be saved, but I’m flexible,” said the Tycoon trying to explain its “back-and-forth” (pull and spring) tariff.
Wall Street and the other bags started the week positively but the dollar continues to weaken And uncertainty looms over investors.
In an atmosphere marked by growing distrust, with new EU recommendations to his officials on a mission in the USA, The EU Commissioner for trade Maros Sefcovic has landed in Washington for a new round of interviews with its American counterparties.
“The EU remains ready for a right agreement, including reciprocity through zero rates on industrial assets and working on non -tariff barriers. Reaching this will require significant joint effort from both sides,” posted Sefcovic on X at the end of a 90 -minute meeting with the American trade secretary Howard Lutnick and the American commercial representative Jamieson Greer.
No face to face would be foreseen with the Treasury Secretary Steve Bessent, even if the programs are constantly updated. The aim is to avoid the escalation of the commercial war “exploring the land for a negotiated solution”, as explained a press release from the European Commission on the 90 -day break (until July 14) to its countermeasures against the US duties. “As President Von der Leyen clarified in his declaration, the EU wants to ‘give negotiations a chance’, but If the talks do not prove to be satisfactory, EU countermeasures will come into forcenow suspended, against US duties on steel and aluminum, preparatory work continues for further “European retaliation, the Commission specified.
In short, too Brussels has the gun laid on the table, not to mention the possible European lever on American public debt, on which Beijing seems to have already started to send clear messages.
On the plate of the negotiations, the EU plays the purchase of liquefied natural gas purchase card (GNL) from the United States, which is one of Trump’s requests to rebalance the commercial deficit. It is “a possibility” in the context “of the current situation”, reiterated a spokesman for the European Commission, recalling that Von der Leyen had already mentioned this option last November, immediately after the US presidential elections. Brussels says he is ready to strengthen the diversification of energy sources, after the progressive detachment from Russian gas, and underlines that “the United States are absolutely one of the possible options”. As a question about specific mechanisms, such as the possible relaunch of the EU -combined purchasing system, the spokesman replied that “the aggregation has already shown its effectiveness and could be one of the options. It is part of the current negotiations”.
Too bad that in the meantime, as Reuters reports, some CEO of European majors think about strengthening the import of the less expensive Russian gas, also by Gazprom, if there was a turning point in Ukraine. “If reasonable peace in Ukraine, we could return to flows of 60 billion cubic meters, perhaps 70, a year, including Gnl,” said Didier Holleaux, executive vice -president of the French Engie.
Meanwhile, the Tycoon boasts its commercial policies to head the merit of Nvidia’s move, which will produce its artificial intelligence supercomputer entirely in the United States for a value of 500 billion dollars in the next four years.
White House for cutting 50% Budget Department of State
The Office of Management and Budget of the White House has proposed to cut the budget of the State Department almost 50%, close several diplomatic missions abroad, drastically reduce the number of diplomatic officials and eliminate funding for almost all international organizations, including United Nations, many of its agencies and the NATO headquarters. The US media report it, citing managers of the administration protected anonymity.