All articles tagged with #trade negotiations
President Trump announced that South Korea’s investment package includes $8.4 billion for U.S. enhanced oil recovery and $54 billion for the Alaska LNG pipeline. South Korea’s government denied these specific commitments, stating the projects remain under review and were not part of the finalized agreement.
President Trump claimed South Korea agreed to a $54 billion investment in Alaska’s LNG project to boost Senator Dan Sullivan’s reelection bid, but Seoul formally protested the claim. South Korean officials stated the deal is only in preliminary stages and contingent on commercial viability, contradicting the White House’s announcement of a finalized agreement.
President Donald Trump announced a $200 billion South Korean energy investment package, including a $54 billion stake in the Alaska LNG project. South Korea rejected the specific figure, stating no firm commitment was made. The dispute highlights economic and political friction between the allies ahead of US midterms.
The U.S. and Canada are racing to finalize a trade deal before a 12:01 a.m. ET Saturday deadline to avert 50% tariffs on about $20 billion of Canadian imports, after an eleventh-hour delay by Trump. Talks in Washington involve top Canadian negotiators and U.S. officials, with Metals tariffs on steel, aluminum, and lumber remaining a sticking point and potential concessions on autos and a revived Keystone XL pipeline on the table. A final agreement had not been reached as of now.
President Trump paused 50% tariffs on Canadian goods for three days after a last-minute deal with Canada, with details pending and a midnight deadline; talks centered on concessions around autos, dairy, and wines, but the macro impact may be limited since only a small share of Canadian exports would be affected, and the outcome could influence USMCA renegotiations.
The US and Canada reached a last-minute agreement to suspend 50% tariffs on about $20.2 billion of Canadian exports until August 22, subject to final documents, easing fears of a trade conflict; Trump tied the pause to a possible revival of the Keystone XL pipeline, while Canada’s Mark Carney said substantial progress has been made but more work remains.
Canada unveiled fresh, detailed trade proposals to the US aimed at renewing USMCA for another 16 years and strengthening North American competitiveness, while cautioning that negotiations may still be turbulent. After a Washington meeting with US Trade Representative Jamieson Greer, Dominic LeBlanc emphasized Canada’s focus on forced-labor rules and autos policy and said talks will continue in coming days, even as the US proposes tariffs on about 60 partners that would exempt USMCA-compliant Canada shipments. Mexico has already begun bilateral talks, and Ottawa says the deal can be extended if it benefits all three nations.
President Trump said he will raise tariffs on EU cars and auto parts from 15% to 25% next week, arguing the EU is not complying with the Turnberry Deal reached last year; the move heightens transatlantic trade tensions as EU officials stress the deal remains in force and still must be fully implemented.
In Round 1 of the NFL Draft, Baltimore explored trading back to pick up extra fourth-rounders, but the other team reportedly changed its offer and pulled out, forcing the Ravens to pass. The moment adds to an eventful offseason that also saw Baltimore back out of a deal with the Raiders to acquire Maxx Crosby, illustrating a rocky period for the franchise.
Baltimore called off a blockbuster swap for Maxx Crosby after he failed a physical, stunning the NFL and drawing sharp questions from Raiders officials and other executives. Crosby, recovering from a left knee meniscus tear, would have netted the Ravens two first-round picks, but the deal is voided and Crosby returns to Vegas, forcing both teams to reassess cap space and future moves. The fallout raises questions about medical risk in trades and whether the Ravens could face repercussions, with Trey Hendrickson viewed as a likely fallback and the Cowboys not expected to re-enter the Crosby pursuit.
The US has reduced proposed tariffs on Italian pasta from as high as 92% to between 2% and 14%, following Italy's cooperation, though final decisions are pending. This move alleviates potential cost increases for consumers and reflects ongoing US-Italy trade negotiations, amid broader trade tensions.
President Trump has delayed tariff increases on upholstered furniture, kitchen cabinets, and vanities for another year to support ongoing trade negotiations, while maintaining existing tariffs on certain wood products due to national security concerns related to foreign reliance and trade practices.
Mercosur is expressing impatience with the European Union's delays in ratifying a long-standing trade deal, while simultaneously pursuing agreements with other partners like the UAE, Canada, and Japan, as competitors take advantage of the opportunity to access South America's markets and resources.
Brazilian President Lula has threatened to withdraw from the EU-Mercosur trade agreement, signaling potential disruptions in the trade negotiations between Brazil and the European Union.
The EU Parliament is considering delaying the Mercosur trade agreement until 2028, as it prepares to strengthen safeguards and hold final talks with EU member states, amidst broader political developments in Europe.