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Welcome to The Logoff: The US and the European Union have arrived at a brand new commerce deal, simply days earlier than President Donald Trump’s threatened deadline to impose substantial new tariffs.
What’s within the settlement? Solely the broad strokes of the deal have been introduced up to now, nevertheless it units a brand new tariff price of 15 p.c on many imports from the EU, half the 30 p.c price that had been threatened. It additionally features a promise of mutual tariff-free commerce on some merchandise, together with plane and a few generic medication, and a European dedication to purchase $750 billion in US vitality over the following three years.
Different factors are nonetheless beneath negotiation, in accordance with European Fee President Ursula von der Leyen, together with whether or not European wine and different spirits will obtain an exemption from the 15 p.c tariff.
How is Trump’s commerce warfare faring elsewhere? Earlier this month, Trump despatched a brand new spherical of tariff demand letters to US commerce companions, with a brand new deadline of August 1 (this Friday) to succeed in a commerce deal and head off drastic tariffs. Since then, the US has reached a lot of new agreements, together with a cope with Japan final week — however many extra are nonetheless excellent.
Amongst these is a cope with China, which negotiators met to debate on Monday; a mutual suspension of tariffs between the 2 nations is about to run out on August 12, however is prone to be prolonged an extra 90 days as talks proceed.
And with that, it’s time to sign off…
In Guatemala, conservation teams have begun leaving out water for animals throughout sizzling summer season climate, and jaguars, spider monkeys, tapirs, and extra have been captured on digital camera taking a drink. There’s some nice video in his full story — I hope you give it a learn, and we’ll see you again right here tomorrow!
