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The Latest Breaking News from Howard Lutnick

I grew up on American food. Trust me, it’s the last thing Europe needs

The EU is under pressure to strike a trade deal with Trump, but an influx of mass-produced, low-quality food must be off the table, says Guardian Europe columnist Alexander Hurst

The Guardian - UK

‘Ninja’ Scott Bessent says Elon Musk fancies himself as ‘a viking’ as he tries to downplay their feud

Treasury secretary and former head of DOGE clashed in West Wing in April within earshot of Donald Trump in Oval Office

The Independent UK

Trump Is Slapping a 50 Percent Tariff on Home Appliances

Refrigerators, freezers, dishwashers, washing machines, and dryers are among the products subject to the president’s 50 percent tariff on imports derived from aluminum and steel.

Reason

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read the most diverse news in one place.

Why reviving U.S. tech manufacturing is harder than you think

Trump’s wrecking ball to global trade has already proved too fast and too disruptive to encourage companies like Apple to quickly move their production to the U.S.

Fortune

‘This is the looting of America’: Trump and Co’s extraordinary conflicts of interest in his second term

Bitcoin, internet, EVs, private dinners for hire – the list of pay-for-play and quid quo pro goes on, and on … and on

The Guardian - US

US Steel, Nippon Partnership Proceeds With Security Deal, 'Golden Share'

The partnership between US Steel and Nippon Steel has reached a new phase, with an agreement on US national security guarantees, in addition to the so-called "golden share" advantage obtained by President Donald Trump's administration.

International Business Times

Tariffs on Chinese Goods Drop to 55%, but That's Cold Comfort for Consumers

Triple-digit bilateral tariffs have been brought down to double digits. Negotiations on semiconductors and rare earth elements will continue.

Reason

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US poised to lower tariffs on British cars within days, UK minister indicates

Trade secretary Jonathan Reynolds says US is expected to slash tariffs ‘very soon’ after talks with US counterpart

The Guardian - UK

Jonathan Reynolds mocks Nigel Farage’s coal mines plan as an ‘absolute parody’

Nigel Farage fails to understand ‘the pride in where we’re from and what we represent’, the business secretary said

The Independent UK

Stocks Slip Before the Open on Trump Tariff Threat, U.S. PPI Data on Deck

June S&P 500 E-Mini futures (ESM25) are down -0.35%, and June Nasdaq 100 E-Mini futures (NQM25) are down -0.30% this morning as concerns around U.S. trade policy and escalating geopolitical tensions weighed on sentiment, while investors awaited the release of crucial producer inflation data.

Barchart

President Trump says he’ll set unilateral tariff rates within weeks

The president said that he would set country-specific rates in less than two weeks — after reaching a tariff deal with China.

Euronews

What do we know about the US-China trade deal?

At 55 percent, the tariffs are still high, but some experts expect they will drop further.

Al Jazeera

S&P Futures Tick Lower With Key U.S. Inflation Data in Focus, U.S.-China Trade Talk Details Awaited

June S&P 500 E-Mini futures (ESM25) are trending down -0.14% this morning after the U.S. and China agreed on a framework to ease trade tensions, but investors were left disappointed by the lack of details, with the focus now shifting to the release of key U.S. inflation data.

Barchart

US and China reach deal to ease rare earth mineral export curbs after talks in London

US commerce secretary says framework puts ‘meat on the bones’ of deal reached last month in Geneva to ease retaliatory tariffs

The Independent UK

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The Guardian - UK

US and China agree framework deal to extend trade war truce

US commerce secretary expresses optimism that deal will resolve concerns about rare earths and magnets

The Guardian - UK

Trump says China will face 55% tariffs under trade deal; US inflation rises to 2.4% – as it happened

Rolling coverage of the latest economic and financial news

Al Jazeera

US, China agree on ‘framework’ on trade after talks in London

Negotiators say agreement will be presented to US President Donald Trump and Chinese President Xi Jinping for approval.

Euronews

US and China strike a deal on trade framework after talks in London

The London talks are the latest in the two countries’ joint efforts to find a middle ground to resolve a trade dispute which threatens to plunge the world into recession and economic instability.

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Evening Standard

Starmer and Reynolds meet US commerce secretary in push to implement trade deal

The Business Secretary took the opportunity to meet Howard Lutnick to push for progress on the US-UK trade deal announced last month.

The Guardian - UK

British officials hopeful that US will start lifting car tariffs this week

Exclusive: Trade secretary to meet US counterpart with aim of implementing first parts of deal in coming days

The Guardian - UK

FTSE 100 falls short of record closing high; US-China trade talks ‘going well’ as meeting resumes – as it happened

Rolling coverage of the latest economic and financial news, including latest UK labour market report

The Independent UK

Trump sends Bessent and Lutnick to haggle with Chinese on tariff war after Xi chat

News of the talks comes a day after Trump spoke with Chinese leader Xi Jinping

The Independent UK

A banana a day to keep the tariffs away? Howard Lutnick mocked during congressional hearing over plan to make more products in America

‘We cannot build bananas in America,’ commerce secretary reminded in surreal exchange at House hearing on Donald Trump’s tariff policy

Fortune

Elon Musk says Trump tariffs will trigger recession this year, Tesla shares tumble

The recession comment came amid an ugly social media spat between the one-time friends.

Reason

Milton Friedman Disproved Trump's Argument for Tariffs Decades Ago

In a 1978 appearance at Utah State University, the Nobel Prize–winning economist provided the perfect retort to those who blindly argue we should "build in America."

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