Sen. Josh Hawley (R-MO) unveiled a bill this week that would offer tax rebates to &#8220;hard-working&#8221; Americans and their families using revenue attained from tariffs championed by President Donald Trump.
The <a href="https://www.hawley.senate.gov/wp-content/uploads/2025/07/Hawley-American-Worker-Rebate-Act-Bill-Text.pdf" target="_blank" rel="noopener">legislation</a>, called the American Worker Rebate Act of 2025, aims to amend the Internal Revenue Code of 1986 and provides credits of at least $600 to each qualifying adult and child starting this year, with <a href="https://www.hawley.senate.gov/hawley-introduces-legislation-to-send-rebate-checks-to-working-americans/" target="_blank" rel="noopener">potential</a> increases if collections beat projections.
Modeled after the 2020 stimulus payments, the bill proposes decreasing rebates for those who earn more than a certain amount of money. Specifically, the credits shrink by 5% for adjusted gross income above $150,000 for joint filers, $112,500 for heads of household, or $75,000 for other taxpayers.
Hawley introduced the legislation after Trump suggested last week that his administration was considering the prospect of rebates, citing revenue the United States is taking in from tariffs.
&#8220;We have so much money coming in, we&#8217;re thinking about a little rebate, but the big thing we want to do is pay down debt. We&#8217;re thinking about a rebate,&#8221; Trump <a href="https://x.com/Acyn/status/1948745482484023525" target="_blank" rel="noopener">said</a> to a reporter outside the White House.
Tariffs led to concerns about inflation, but revenues from the levies issued by Trump exceeded the expectations of &#8220;experts&#8221; and brought in more than $100 billion over the first six months of his second term, The Daily Wire <a href="https://www.dailywire.com/news/how-trumps-economy-continues-to-defy-the-experts-and-shock-the-panicans" target="_blank" rel="noopener">reported</a> last week.
&#8220;Americans deserve a tax rebate after four years of Biden policies that have devastated families’ savings and livelihoods,&#8221; Hawley said in a statement. &#8220;Like President Trump proposed, my legislation would allow hard-working Americans to benefit from the wealth that Trump’s tariffs are returning to this country.&#8221;
Trump has struck a number of framework agreements since announcing &#8220;Liberation Day&#8221; tariffs as part of a bid to get other countries to negotiate trade deals and establish more favorable terms for the United States.
On Sunday, Trump <a href="https://www.dailywire.com/news/trump-secures-biggest-of-all-trade-deals-with-eu" target="_blank" rel="noopener">announced</a> what he called &#8220;the biggest of all the deals,&#8221; in which the European Union agreed to invest hundreds of billions of dollars in the United States, open up its member nations to trade with America, and settle on a 15% tariff rate on many imports from the bloc.

Sen. Josh Hawley

Hawley Bill Sends Tariff Surplus Back To Americans

Hawley Bill Sends Tariff Surplus Back to Americans

Congress

Josh Hawley

Politics

Tariffs

Trade War

U.S. Senate

President Donald Trump announced on Sunday the &#8220;biggest&#8221; trade deal of them all with the European Union (EU).
Sitting with European Commission President Ursula von der Leyen in Turnberry, Scotland, Trump read off a piece of paper the various major takeaways from their agreement.
<blockquote class="twitter-tweet" data-media-max-width="560">
.<a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a> announces a landmark trade deal with the European Union: &#8220;I think it&#8217;s the biggest deal ever made.&#8221; <a href="https://t.co/HqVK2yCTti">pic.twitter.com/HqVK2yCTti</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1949527667478319115?ref_src=twsrc%5Etfw">July 27, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
As part of the deal, per Trump&#8217;s description, the EU will purchase $750 billion worth of energy from the United States, agree to invest $600 billion more than the bloc is already investing, open up its countries up to trade with America, and buy a &#8220;vast amount&#8221; of military equipment.
Trump also noted the tariffs for automobiles and other EU imports will be a &#8220;straight across&#8221; rate of 15%. However, he <a href="https://www.youtube.com/watch?v=1ovz1cz0nzE" target="_blank" rel="noopener">said</a> the 50% levies on steel and aluminum for U.S. trade partners would remain in effect.
Von der Leyen affirmed that a deal had been struck.
&#8220;We have a trade deal between the two largest economies in the world — and it&#8217;s a big deal. It&#8217;s a huge deal. It will bring stability. It will bring predictability. That&#8217;s very important for our businesses on both sides of the Atlantic,&#8221; she said.
<blockquote class="twitter-tweet" data-media-max-width="560">
.<a href="https://twitter.com/vonderleyen?ref_src=twsrc%5Etfw">@vonderleyen</a>: &#8220;We have a trade deal between the two largest economies in the world — and it&#8217;s a big deal. It&#8217;s a huge deal.&#8221; <a href="https://t.co/vuDZdRjPPJ">pic.twitter.com/vuDZdRjPPJ</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1949527995393216846?ref_src=twsrc%5Etfw">July 27, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Von der Leyen further noted that a resolution was reached after some &#8220;tough&#8221; negotiations.
Trump set an August 1 deadline for countries to reach a trade deal with the United States or endure higher tariff rates. The EU was facing a <a href="https://www.politico.com/news/2025/07/12/trump-european-union-mexico-tariffs-00449916" target="_blank" rel="noopener">penalty</a> of 30% on imports.
&#8220;It&#8217;s the biggest of all the deals,&#8221; Trump declared.
It was not clear what, if any, concessions Trump made in the discussions.
Von der Leyen did say that a &#8220;starting point&#8221; was rectifying an &#8220;imbalance&#8221; in which the EU side had a &#8220;surplus&#8221; and the United States had a &#8220;deficit.&#8221; She also said the deal would &#8220;enable trade on both sides, which means good jobs on both sides of the Atlantic.&#8221;
Over the past couple of months, following &#8220;Liberation Day&#8221; in April, the Trump administration has struck framework agreements with countries such as <a href="https://www.dailywire.com/news/trump-unveils-terms-of-done-trade-deal-with-china" target="_blank" rel="noopener">China</a>, the <a href="https://www.dailywire.com/news/both-countries-will-become-stronger-trumps-trade-deal-will-give-u-s-more-access-to-u-k-economy" target="_blank" rel="noopener">United Kingdom</a>, and <a href="https://www.dailywire.com/news/trump-lands-indonesia-trade-deal-as-e-u-readies-retaliation" target="_blank" rel="noopener">Indonesia</a>.
Trump <a href="https://www.dailywire.com/news/trump-says-japan-will-invest-half-a-trillion-dollars-in-u-s-largest-deal-ever-made" target="_blank" rel="noopener">revealed</a> last week that Japan would invest over half a trillion dollars into the United States in “perhaps the largest Deal ever made.&#8221; South Korea is <a href="https://www.reuters.com/world/asia-pacific/south-korea-seeks-mutually-agreeable-us-trade-package-2025-07-26/" target="_blank" rel="noopener">working</a> on a trade proposal before it faces a tariff hike at the beginning of next month.

President Donald Trump (R) shakes hands with European Commission President Ursula von der Leyen

Trump Secures ‘Biggest Of All’ Trade Deals With EU

Donald Trump

European Union

U.S.

With President Donald Trump’s latest <a href="https://www.dailywire.com/news/trump-lands-indonesia-trade-deal-as-e-u-readies-retaliation" target="_blank" rel="noopener">deadline</a> looming, Commerce Secretary Howard Lutnick declared the next couple of weeks are going to be &#8220;for the record books.&#8221;
Lutnick provided a bullish outlook for the second part of July during a Sunday <a href="https://www.cbsnews.com/news/howard-lutnick-commerce-secretary-face-the-nation-transcript-07-20-2025/" target="_blank" rel="noopener">interview</a> on CBS ahead of August 1 — the date Trump picked for <a href="https://www.dailywire.com/news/trump-lands-indonesia-trade-deal-as-e-u-readies-retaliation" target="_blank" rel="noopener">targeted countries</a> to face steeper tariffs if they fail to reach new trade agreements.
&#8220;The next two weeks are going to be weeks for the record books,&#8221; Lutnick told &#8220;Face The Nation&#8221; anchor Margaret Brennan. &#8220;President Trump is going to deliver for the American people.&#8221;
Over the past couple of months, following &#8220;Liberation Day&#8221; in April, the Trump administration has struck framework agreements with <a href="https://www.dailywire.com/news/trump-unveils-terms-of-done-trade-deal-with-china" target="_blank" rel="noopener">China</a>, the <a href="https://www.dailywire.com/news/both-countries-will-become-stronger-trumps-trade-deal-will-give-u-s-more-access-to-u-k-economy" target="_blank" rel="noopener">United Kingdom</a>, and <a href="https://www.dailywire.com/news/trump-lands-indonesia-trade-deal-as-e-u-readies-retaliation" target="_blank" rel="noopener">Indonesia</a>.
Even though CBS News <a href="https://www.cbsnews.com/news/cbs-news-poll-trump-deportation-program-prices/" target="_blank" rel="noopener">released</a> the results of a poll finding 61% of Americans feel the Trump administration is focusing &#8220;too much&#8221; on tariffs, Lutnick argued they will &#8220;love the deals&#8221; that he and Trump are working to put together.
&#8220;The president figured out the right answer, and sent letters to these countries, said this is going to fix the trade deficit,&#8221; Lutnick asserted. &#8220;This will go a long way to fixing the trade deficit, and that&#8217;s gotten these countries to the table and they&#8217;re going to open their markets or they&#8217;re going to pay the tariff.&#8221;
Lutnick said the Trump administration will impose &#8220;a baseline tariff of 10%&#8221; on “smaller countries&#8221; in Latin America, the Caribbean, and Africa. &#8220;And then the bigger economies will either open themselves up, or they’ll pay a fair tariff to America for not opening themselves up and treating America unfairly.&#8221;
When it comes to the European Union, the commerce secretary said there is &#8220;plenty of room&#8221; for the United States to finalize a new trade agreement. &#8220;I am confident we’ll get a deal done,&#8221; Lutnick contended, though he conceded August 1 is a &#8220;hard deadline&#8221; for the bloc.
However, &#8220;nothing stops countries from talking&#8221; after that date, he said, even as &#8220;they’re going to start paying tariffs.&#8221;
Lutnick also stressed that Trump is &#8220;absolutely going to renegotiate&#8221; the United States-Mexico-Canada Agreement (USMCA) when it reaches a review period next summer.
&#8220;He wants to protect American jobs,&#8221; Lutnick said of the president. &#8220;He doesn&#8217;t want cars built in Canada or Mexico when they could be built in Michigan and Ohio. It&#8217;s just better for American workers. The president&#8217;s got the American workers&#8217; back.&#8221;
The secretary went on, &#8220;That&#8217;s why they elected him. That&#8217;s why the stock market is at all-time highs. They understand the president actually understands business and is doing it the right way.&#8221;
<iframe loading="lazy" title="Howard Lutnick says next two weeks will be &quot;for the record books&quot; with tariff deals" width="500" height="281" src="https://www.youtube.com/embed/k7hAr6C-yGY?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>

Commerce Secretary Howard Lutnick

More Trade Deals Imminent? Lutnick Predicts Next Two Weeks Will Be ‘For The Record Books’

Howard Lutnick

Trump Administration

WASHINGTON/BRUSSELS (Reuters) — U.S. President Donald Trump on Tuesday announced a trade deal with Indonesia, the latest pact in a bid to cement better terms with trading partners and reduce a massive trade deficit, even as the European Union readied retaliatory measures should talks between Washington and its top trading partner fail.
&#8220;Great deal, for everybody, just made with Indonesia. I dealt directly with their highly respected President. DETAILS TO FOLLOW!!!&#8221; Trump said in a post on Truth Social.
Indonesia&#8217;s total trade with the United States — totalling just under $40 billion in 2024 — does not rank in the top 15, but it has been growing. U.S. exports to Indonesia rose 3.7% last year, while imports from there were up 4.8%, leaving the U.S. with a goods trade deficit of nearly $18 billion.
The top U.S. import categories from Indonesia, according to U.S. Census Bureau data retrieved on the International Trade Centre&#8217;s TradeMap tool, last year were palm oil, electronics equipment including data routers and switches, footwear, car tires, natural rubber, and frozen shrimp.
Susiwijono Moegiarso, a senior official with Indonesia&#8217;s Coordinating Ministry for Economic Affairs, told Reuters in a text message: &#8220;We are preparing a joint statement between U.S. and Indonesia that will explain the size of reciprocal tariff for Indonesia including the tariff deal, non-tariff and commercial arrangements. We will inform (the public) soon.&#8221;
Trump had threatened the southeast Asian country with a 32% tariff rate effective August 1 in a letter sent to its president last week.
Trump sent similar letters to roughly two dozen trading partners this month, including Canada, Japan, and Brazil, setting blanket tariff rates ranging from 20% up to 50%, as well as a 50% tariff on copper.
The August 1 deadline gives the targeted countries time to negotiate agreements that could lower the threatened tariffs. Some investors and economists have also noted Trump&#8217;s pattern of backing off his tariff threats.
Since launching his tariff policy, Trump has clinched only a few deals despite his team touting an effort to bring home &#8220;90 deals in 90 days.&#8221; So far, framework agreements have been reached with the United Kingdom and Vietnam, and an interim deal has been struck with China to forestall the steepest of Trump&#8217;s tariffs while negotiations continue between Washington and Beijing.
<h3>E.U. READIES RETALIATION</h3>
The breakthrough with Indonesia came as the European Commission, the E.U.&#8217;s governing body, gets set to target 72 billion euros ($84.1 billion) worth of U.S. goods — from Boeing aircraft and bourbon whiskey to cars — for possible tariffs if trade talks with Washington fail.
Trump is threatening a 30% tariff on imports from the E.U. from August 1, a level European officials say is unacceptable and would end normal trade between two of the world&#8217;s largest markets.
The list, sent to E.U. member states and seen by Reuters on Tuesday, pre-dates Trump&#8217;s move over the weekend to ramp up pressure on the 27-nation bloc and responds instead to U.S. duties on cars and car parts and a 10% baseline tariff.
The package also covers chemicals, medical devices, electrical and precision equipment as well as agriculture and food products — a range of fruits and vegetables, along with wine, beer, and spirits &#8211; valued at 6.35 billion euros.
Following a meeting of E.U. ministers in Brussels on Monday, officials said they were still seeking a deal to avoid Trump&#8217;s heavy tariff blow.
But E.U. trade chief Maros Sefcovic said those at the meeting expressed unprecedented resolve to protect E.U. businesses using European countermeasures if negotiations with Washington fail to produce a deal.
(Reporting by Philip Blenkinsop in Brussels and David Lawder in Washington; Additional reporting by Richard Lough in Paris; Amanda Teresia, Stefanno Sulaiman and Gayatri Suroyo in Jakarta; Editing by Daniel Wallis)

A drone view shows stacks of containers at the Tanjung Priok port in Jakarta

Trump Lands Indonesia Trade Deal As E.U. Readies Retaliation

Economy

Europe

Global Politics

Indonesia

President Donald Trump said over the weekend that he would hit both Mexico and the European Union with a 30% tariff, effective August 1. 
Trump made the announcements in letters sent to Mexican President Claudia Sheinbaum and European Commission President Ursula von der Leyen on Saturday. In response, von der Leyen stated that the European Union would continue its efforts to reach a trade deal with the United States before the August 1 trade negotiation deadline. 
“The United States of America has agreed to continue working with the European Union, despite having one of our largest Trade Deficits with you. Nevertheless, we have decided to move forward, but only with more balanced and fair TRADE,” Trump <a href="https://truthsocial.com">wrote</a> to von der Leyen. 
He added that there would be no tariffs for European companies that relocate their manufacturing to the United States and that the rates could be adjusted if the European Union dropped trade barriers for American goods. If the European Union retaliated with its own new tariffs, Trump said he would raise the 30% levy by an equal number. 
After Trump&#8217;s letter was posted on Truth Social, von der Leyen <a href="https://ec.europa.eu/commission/presscorner/detail/en/statement_25_1816">said</a> that the tariffs would “disrupt essential transatlantic supply chains.” 
“Few economies in the world match the European Union&#8217;s level of openness and adherence to fair trading practices. The EU has consistently prioritized a negotiated solution with the U.S., reflecting our commitment to dialogue, stability, and a constructive transatlantic partnership,” she said. 
“We remain ready to continue working towards an agreement by August 1. At the same time, we will take all necessary steps to safeguard EU interests, including the adoption of proportionate countermeasures if required,” she added. 
The European Union <a href="https://ustr.gov/countries-regions/europe-middle-east/europe/european-union">exported</a> about $605.8 billion worth of goods to the United States in 2024. Trump has already imposed tariffs on European steel and aluminum.  
Trump’s letter to Mexico said that it was not doing enough to crack down on drug cartels. 
“Mexico has been helping me secure the border, BUT, what Mexico has done, is not enough,” he wrote. “Mexico still has not stopped the Cartels who are trying to turn all of North America into a Narco-Trafficking Playground. Obviously, I cannot let that happen!”
He said that if Mexico was successful in stopping the cartels, he would consider an adjustment to the tariff rates. In a statement, Mexico&#8217;s government <a href="https://www.gob.mx/sre/prensa/mexico-ya-esta-en-negociaciones-con-estados-unidos-para-proteger-empresas-y-empleos">said</a> that it was already negotiating with the American officials over the proposed tariffs. 
On Monday morning, Trump posted on Truth Social that other countries had been taking advantage of the United States through trade. 
“The United States of America has been ripped off on TRADE (and MILITARY!), by friend and foe, alike, for DECADES. It has come at a cost of TRILLIONS OF DOLLARS, and it is just not sustainable any longer &#8211; And never was! Countries should sit back and say, &#8216;Thank you for the many year’s long free ride, but we know you now have to do what’s right for America.&#8217; We should respond by saying, &#8216;Thank you for understanding the situation we are in. Greatly appreciated!&#8217;”

President Trump Returns To White House From New Jersey

Trump Threatens New Tariffs On Mexico, European Union As Trade Deadline Looms

Executive

Free Trade

Mexico

President Donald Trump is threatening to slap a steeper 35% tariff on products from Canada beginning August 1 unless steps are taken to curb the flow of fentanyl over its shared border with the United States.
Trump warned Canadian Prime Minister Mark Carney in a <a href="https://truthsocial.com/@realDonaldTrump/posts/114831716625825473">letter</a> on Thursday that the United States would hike the rate up from 25% – and possibly more. Still, Canada could avoid some or all of the added tariff, he suggested.
“If Canada works with me to stop the flow of Fentanyl, we will, perhaps, consider an adjustment to this letter. These Tariffs may be modified, upward or downward, depending on our relationship with your country,” the president wrote.
A White House official <a href="https://www.wsj.com/world/americas/trump-threatens-35-tariff-on-some-canadian-goods-d1306890" target="_blank" rel="noopener">told</a> The Wall Street Journal that goods in compliance with the U.S.-Mexico-Canada Agreement would at least for now be exempt from the 35% tariff rate — as they had been with the 25% penalty Trump implemented earlier this year.
Canadian goods that are “transshipped,&#8221; or products sent to the United States via another country first to evade the tariff on Canada, would still be subject to the heightened rate.
Trump, who noted the larger penalty would be &#8220;separate from all Sectoral Tariffs,&#8221; railed against Canada’s trade policies. He said they &#8220;cause unsustainable trade deficits against the United States&#8221; and placed a focus on dairy farmers.
“Canada charges extraordinary Tariffs to our Dairy Farmers — up to 400% — and that is even assuming our Dairy Farmers even have access to sell their products to the people of Canada. The Trade Deficit is a major threat to our Economy, and, indeed, our National Security!” the president wrote.
Trump also mentioned in his letter how Canada previously &#8220;retaliated&#8221; with its own tariffs rather than &#8220;working with&#8221; the United States.
The escalation in the tariff fight with the United States’ neighbor to the north comes as the president has <a href="https://www.nbcnews.com/politics/donald-trump/trump-tariffs-inflation-hasbro-ukraine-patriot-missiles-nato-russia-rcna218125">prepared</a> an increased blanket tariff for a slate of countries that have either not been notified of increased tariffs yet or have already agreed to a framework of a trade deal with the United States.
“We’re just going to say all of the remaining countries are going to pay, whether it’s 20% or 15%. We’ll work that out now,” Trump told <a href="https://www.nbcnews.com/politics/donald-trump/trump-tariffs-inflation-hasbro-ukraine-patriot-missiles-nato-russia-rcna218125">NBC News</a> on Thursday.
“I’d like to do it today,” Trump said of his plan to send letters laying out new tariff schedules. “I’m talking European Union, which is, as you know, many countries, and Canada. We’ll be putting them out over the next couple of hours.”
In recent days, Trump has posted a number of letters warning of new tariff rates. 
On Wednesday, Trump posted one of his steepest threats, <a href="https://www.nbcnews.com/business/economy/trump-hits-brazil-50-percent-tariff-citing-ex-president-jair-bolsonaro-rcna217859">warning</a> Brazilian President Luiz Inácio Lula da Silva that Brazilian products could face a 50% jump in tariffs over the government’s treatment of former Brazilian President Jair Bolsonaro, who is facing charges related to the 2022 election.
“This is nothing more, or less, than an attack on a Political Opponent — Something I know much about!” Trump wrote in a Truth Social <a href="https://truthsocial.com/@realDonaldTrump/posts/114812490799920916">post</a> defending Bolsonaro.
“The Great People of Brazil will not stand for what they are doing to their former President. I’ll be watching the WITCH HUNT of Jair Bolsonaro, his family, and thousands of his supporters, very closely. The only Trial that should be happening is a Trial by the Voters of Brazil — It’s called an Election. LEAVE BOLSONARO ALONE!” he wrote.

Mark Carney, Donald Trump

Trump Threatens 35% Tariff On Canada Over Fentanyl Trafficking

Canada

Mark Carney

United States

WASHINGTON/BRUSSELS (Reuters) — The European Union said it was working on sealing a trade deal with the United States by the end of the month, while U.S. President Donald Trump promised that he would deliver further tariff notices on unnamed countries on Wednesday.
Trump broadened out a trade war that has cast a shadow over the global economic outlook when he said on Tuesday he would impose a 50% tariff on imported copper and soon introduce long-threatened levies on semiconductors and pharmaceuticals.
Trump said late on Tuesday that &#8220;a minimum of seven&#8221; tariff notices would be released on Wednesday morning, and more in the afternoon. He gave no other details in his Truth Social post.
The threat came a day after he pressured 14 trading partners, including powerhouse U.S. suppliers South Korea and Japan, with tariff letters imposing levies of 25% and upwards to take effect from August 1.
<h3>NEGOTIATIONS WITH THE E.U.</h3>
Trump said trade talks have been going well with China and the European Union, which is the biggest bilateral trading partner of the U.S.
Trump said he would &#8220;probably&#8221; tell the E.U. within two days what rate it could expect for its exports to the U.S., adding that the 27-nation E.U. had become much more cooperative.
&#8220;They treated us very badly until recently, and now they&#8217;re treating us very nicely. It&#8217;s like a different world, actually,&#8221; he said.
European Commission President Ursula von der Leyen gave a guarded response.
&#8220;We stick to our principles, we defend our interests, we continue to work in good faith, and we get ready for all scenarios,&#8221; von der Leyen told the European Parliament.
A European Commission spokesperson said that the E.U. aimed to reach a trade deal before August 1, potentially even in the coming days.
However, Italian Economy Minister Giancarlo Giorgetti warned that talks between the two sides were &#8220;very complicated&#8221; and could continue right up to the deadline.
<h3>HIGHEST TARIFF LEVELS SINCE 1934</h3>
Equity markets shrugged off Trump&#8217;s latest tariff salvo on Wednesday, while the yen remained on the back foot after the levies set for Japan.
Following Trump&#8217;s announcement of higher tariffs for imports from the 14 countries, U.S. research group Yale Budget Lab estimated consumers face an effective U.S. tariff rate of 17.6%, up from 15.8% previously and the highest in nine decades.
Trump&#8217;s administration has been touting those tariffs as a significant revenue source. Treasury Secretary Scott Bessent said Washington has taken in about $100 billion so far and could collect $300 billion by the end of the year. The United States has taken in about $80 billion annually in tariff revenue in recent years.
Trump&#8217;s administration promised &#8220;90 deals in 90 days&#8221; after he unveiled an array of country-specific duties in early April. So far, only two agreements have been reached, with Britain and Vietnam. Trump has said a deal with India was close.
(Reporting by Julia Payne, Charlotte Van Campenhout, Philip Blenkinsop, Trevor Hunnicutt, Dan Burns; Writing by Keith Weir; Editing by Alex Richardson)

FILE PHOTO: European Union leaders summit in Brussels

E.U. Seeks To Finalize Trade Deal With Trump By End Of The Month

President Donald Trump fields questions on tariffs, Ukraine, and Jeffrey Epstein during his sixth cabinet meeting, fallout continues from the Central Texas floods, and the Trump administration rejects amnesty but hints at flexibility for some illegal immigrant workers.
It’s Wednesday, July 9, and this is the news you need to know to start your day.
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<h2>Trump Convenes His Cabinet</h2>
<div class="image"><img loading="lazy" decoding="async" class="alignnone size-large wp-image-944393" src="https://dw-wp-production.imgix.net/2025/07/MRN-7.9.25-Seg-Head-1-1024x576.jpg" alt="" width="1024" height="576" srcset="https://dw-wp-production.imgix.net/2025/07/MRN-7.9.25-Seg-Head-1-1024x576.jpg 1024w, https://dw-wp-production.imgix.net/2025/07/MRN-7.9.25-Seg-Head-1-300x169.jpg 300w, https://dw-wp-production.imgix.net/2025/07/MRN-7.9.25-Seg-Head-1-768x432.jpg 768w, https://dw-wp-production.imgix.net/2025/07/MRN-7.9.25-Seg-Head-1-1536x864.jpg 1536w, https://dw-wp-production.imgix.net/2025/07/MRN-7.9.25-Seg-Head-1.jpg 1920w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></div>
Topline:  President Trump provided new details on tariffs, support for Ukraine, and Jeffrey Epstein during a wide-ranging cabinet meeting on Tuesday.
Cabinet meetings traditionally take place behind closed doors, but on Tuesday, President Trump spent nearly two hours taking questions from reporters. While many questions addressed the recent flash flooding in Texas, the president also spent a considerable amount of time discussing his plans for new tariffs.
In April, President Trump announced a 90-day pause on his ‘Liberation Day’ tariffs to offer countries a chance to negotiate lower rates — but warned that any country that didn’t come to the table would be hit with massive tariffs on July 9. However, despite early signs of optimism from our trading partners, the reality is that we have yet to see the “90 deals in 90 days” that the White House initially promised. 
To date, the only countries with formal, finalized trade agreements are the United Kingdom and Vietnam. 
The White House insists it is approaching the finish line with the European Union, India, and Cambodia, among others, but the administration clearly needs more time. On Monday, the president signed an executive order extending the tariff deadline to August 1. In an effort to expedite negotiations in the meantime, Trump sent letters to more than a dozen countries, stating that without a deal, they would face enormous tariffs on August 1, and if they raised rates in response, the United States would increase them even further. 
Treasury Secretary Scott Bessent also announced that the United States government had collected “about $100 billion in tariff income thus far this year” and projected that that figure could rise to well over $300 billion by the end of the year.&#8221;
Meanwhile, since taking office and that disastrous White House meeting with Ukrainian President Volodymyr Zelensky, the Trump administration has significantly cut its military and financial support for Ukraine. Trump said that he was worried Zelensky would avoid peace talks if he knew the United States would send an endless supply of weapons, and there were those in Washington who believed Russian President Vladimir Putin would be more willing to come to the table if support was cut off.
But with Moscow stepping up its attacks on population centers in Ukraine and Putin repeatedly backing out of peace talks, Trump has reversed himself and announced that the United States would resume weapons shipments to Ukraine. Trump later added that he’s seriously considering even harsher sanctions on Moscow.
“We want to put defensive weapons because Putin is not treating human beings right,” Trump told reporters. “We get a lot of bullsh** thrown at us by Putin — you want to know the truth. He&#8217;s very nice all the time, but it turns out to be meaningless.&#8221;
President Trump also turned heads with his remarks on Jeffrey Epstein – the Trump administration essentially closed its case on Epstein this week, saying there is no evidence that he was murdered, had a client list, or blackmailed powerful individuals. 
That decision has dominated the headlines, but the president seemed irritated, even <a href="https://x.com/9mm_smg/status/1942628135263989932">exasperated</a>, when asked about it.“Are people still talking about this guy, this creep? That is unbelievable. Do you wanna waste the time… I can’t believe you’re asking a question about Epstein at a time like this.”
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<h2>Tensions High In Texas After Flash Floods Kill Over 100 People</h2>
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Topline: While rescue and recovery operations continue in Texas, some are already asking why communities were so unprepared for the natural disaster.
The tragedy that has killed more than 100 people, with many still missing, has left officials to face tough questions. Searches are underway throughout Central Texas. Rains and flash flood warnings have hindered progress, and officials have had to not only look for those missing, but also protect the emergency responders and volunteers that have joined the search crews.
“In the Kerr County area alone, there are 161 people who are known to be missing,” Texas Governor Greg Abbott <a href="https://www.youtube.com/watch?v=Y2yquWcGJ9g&amp;t=2938s">said</a> on Tuesday. “We will not stop until every missing person is accounted for. Know this also, there is very likely more to be added to that list.”
Press conferences have started to become testy, however, with local and national reporters pushing officials to answer increasingly pointed questions about their disaster response, including but not limited to, “Was the emergency manager awake?”
Kerrville City Manager Dalton Rice defended the decision not to issue an evacuation order before the flooding, <a href="https://www.youtube.com/watch?v=xgKRuDsTEyk&amp;t=1303s">arguing</a> that “evacuation is a delicate balance, because if you evacuate too late you then risk putting busses, or cars, or vehicles, or campers on roads into low water areas trying to get them out which then can make it even more challenging, because these flash floods happen very quickly.”
Critics have claimed that recent cuts to the National Weather Service led to the organization being understaffed and less prepared. Texas Republican Senator Ted Cruz characterized those allegations as “partisan finger-pointing” and claimed that the local NWS office had surged “additional manpower” in anticipation of possible flooding. The NWS union, which has generally been very critical of the recent cuts, has also said that the reductions did not impact the response.
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<h2>To Deport, Or Not To Deport</h2>
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Topline: The Trump administration is again signaling a shift in how it is addressing illegal immigration in the farming industry. 
Immigration and Customs Enforcement (ICE) has been authorized by the Department of Homeland Security (DHS) to continue worksite raids on farms to sweep for illegal immigrants. That directive was <a href="https://www.cnn.com/2025/06/17/politics/homeland-security-immigration-raids-resume">issued</a> in June, shortly after the administration announced a pause on those raids, as well as raids at hotels and restaurants. Since then, the Trump administration has sent additional signals that it is attempting to balance its commitment to deporting all illegal aliens with more immediate economic concerns, including potential workforce shortages.
“We’re going to take care of our farmers and hotel workers, but we&#8217;re working on it right now,” President Trump said. “We have a lot of cases where ICE would go into the farm, and these are guys that are working there for 10 to 15 years, no problem. … The farmers know them. It’s called ‘farmer responsibility’ or ‘owner responsibility,’ but they&#8217;re going to be largely responsible for these people, and they know these people…They can be here legally. They can pay taxes and everything. They&#8217;re not getting citizenship, but they get other things. And the farmers need them to do the work.”
That approach has caused backlash among some of the president&#8217;s more ardent supporters, many of whom favor a zero-tolerance policy towards illegal aliens living and/or working in the United States.
In June, U.S. Agriculture Secretary Brooke Rollins <a href="https://x.com/BrookeLRollins/status/1934240461717143696">expressed</a> her full commitment to the America First agenda, but said deportations were being “prioritized” in a way to avoid “severe disruptions to our food supply.” On Tuesday, after being questioned by Daily Wire White House Correspondent Mary Margaret Olohan, Rollins elaborated that the Trump administration will offer illegal immigrants working on farms “no amnesty under any circumstances. Mass deportations continue, but in a strategic and intentional way as we move our workforce toward more automation and toward a 100% American workforce.”
Some reports, mostly out of California, said illegal immigrant farm laborers stopped showing up to work out of fear of deportation, and crops had gone unharvested. One <a href="https://www.theguardian.com/us-news/2025/jul/01/ice-raids-crops-california-farms">report</a> cited numerous farm supervisors who stated that the number of workers dropped dramatically since raids began in California; one supervisor claimed that only 80 of 300 people showed up to work, while another saw a drop from 80 workers to 17. Recent estimates by the Department of Agriculture suggest that about <a href="https://www.ers.usda.gov/topics/farm-economy/farm-labor#:~:text=Roughly%20Half%20of%20Hired%20Crop,unauthorized%20is%20highest%20in%20California.">40-50%</a> of crop farmworkers are either in the country illegally or lack proper work authorization.

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Morning Brief: Trump Says No Amnesty For Illegals & Texas Flood Fallout

brooke rollins

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California

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Floods

illegal immigrants

Jeffrey Epstein

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Ukraine-Russia War

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President Donald Trump announced on Monday that the United States would impose 25% tariffs on imports from Japan and South Korea, following his extension of the &#8220;Liberation Day&#8221; tariff deadline, initially scheduled for April.
On Truth Social, Trump posted letters addressed to the leaders of both countries informing them of the new tariffs. The 25% blanket tariffs will be in addition to sector-specific tariffs already in place. The tariffs on Japan and South Korea will go into effect on August 1.
&#8220;Please understand that the 25% number is far less than what is needed to eliminate the Trade Deficit disparity we have with your Country,&#8221; Trump wrote to both Japanese Prime Minister Shigeru Ishiba and South Korea&#8217;s new president, Lee Jae-myung. Trump added that Japanese and South Korean companies can avoid the tariffs if they manufacture their products in the United States.
Trump then warned the countries against retaliating against the United States with reciprocal tariffs, stating that he would respond by increasing tariffs on them, in addition to the 25% blanket tariffs.
&#8220;If you wish to open your heretofore closed Trading Markets to the United States and eliminate your Tariff, and Non Tariff, Policies and Trade Barriers, we will, perhaps, consider an adjustment to this letter,&#8221; Trump wrote to both nations. &#8220;These tariffs may be modified, upward or downward, depending on our relationship with your Country. You will never be disappointed with the United States of America.&#8221;
<iframe class="truthsocial-embed" style="max-width: 100%; border: 0;" src="https://truthsocial.com/@realDonaldTrump/114812856757774700/embed" width="600" allowfullscreen="allowfullscreen"></iframe><script src="https://truthsocial.com/embed.js" async="async"></script>
<iframe class="truthsocial-embed" style="max-width: 100%; border: 0;" src="https://truthsocial.com/@realDonaldTrump/114812854233087572/embed" width="600" allowfullscreen="allowfullscreen"></iframe><script src="https://truthsocial.com/embed.js" async="async"></script>
Trump posted the letters shortly after Treasury Secretary Scott Bessent <a href="https://www.dailywire.com/news/bessent-promises-several-trade-announcements-over-the-next-48-hours">told</a> CNBC on Monday morning that &#8220;several&#8221; trade announcements would come &#8220;in the next 48 hours.&#8221; Trump hinted last week that he would soon send letters to countries outlining their new tariff rates. Japanese economy minister Ryosei Akazawa has <a href="https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-06-30-2025/card/trump-says-japan-will-get-letter-outlining-new-tariff-rate-11aR4lQ9f3AsmCBVtOq8?mod=article_inline">traveled</a> to Washington, D.C., seven times in recent weeks for ongoing trade talks with the Trump administration, but so far, the talks have yielded no results.
Last week, Trump said that there likely wouldn&#8217;t be a trade deal with Japan, calling the country &#8220;spoiled,&#8221; The Hill <a href="https://thehill.com/homenews/administration/5381161-trump-japan-trade-deal-tariffs-rice/">reported</a>.
“We dealt with Japan. I’m not sure if we’re going to make a deal. I doubt it with Japan — they’re very tough. You have to understand, they’re spoiled. I love Japan. I really like the new prime minister, too,&#8221; he said, adding, “But they and others are so spoiled from having ripped us off for 30, 40 years that it’s really hard for them to make a deal. You know, it’s very hard. As an example, with Japan, they won’t take rice, and yet they desperately need rice,” he said. “They won’t take any cars, but they’ll sell millions. So, we told them, ‘Sorry you can’t do that.’”
South Korean Trade Minister Yeo Han-koo met with U.S. Trade Representative Jamieson Greer in D.C. over the weekend, where he called on the United States to eliminate or reduce tariffs on steel and vehicles, Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-07-06/south-korea-seeks-us-trade-deadline-extension-as-tariffs-loom">reported</a>. Yeo&#8217;s meeting with Greer marked his second trip to D.C. since the new administration took over in South Korea.

Trump Slaps 25% Tariff On Japan, South Korea, Warns Against Retaliation

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Treasury Secretary Scott Bessent promised on Monday that the Trump administration would make &#8220;several announcements in the next 48 hours&#8221; regarding President Donald Trump&#8217;s trade agenda.
Bessent said during an interview with CNBC&#8217;s &#8220;Squawk Box&#8221; that the president is actively &#8220;trying to get everyone across the finish line&#8221; on agreements. Bessent&#8217;s comments come hours after Commerce Secretary Howard Lutnick, in an interview alongside Trump on Sunday, <a href="https://www.cnbc.com/2025/07/06/stock-market-today-live-updates.html">said</a> that tariffs will take effect on August 1, pushing back the plan for Trump&#8217;s &#8220;Liberation Day&#8221; tariffs to hit countries around the world on July 9 after a 90-day reprieve.
&#8220;What President Trump is concerned about is the quality of the deals, not the quantity,&#8221; Bessent said.
&#8220;My mailbox was full last night with a lot of new offers, a lot of new proposals,&#8221; he added. &#8220;So it&#8217;s going to be a busy couple of days. But importantly, too, President Trump has said that the countries would not go back to the recipricol [tariff] rate until August 1.&#8221;
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a> on trade negotiations: &quot;We are going to have several announcements in the next 48 hours&#8230; What President Trump is concerned about is the quality of the deals, not the quantity&#8230; It&#39;s going to be a busy couple of days.&quot; <a href="https://t.co/xBWFDoaP7l">pic.twitter.com/xBWFDoaP7l</a>
&mdash; Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1942197285720350979?ref_src=twsrc%5Etfw">July 7, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The Treasury Secretary <a href="https://www.dailywire.com/news/bessent-trump-will-revive-foreign-tariffs-if-countries-dont-move-along-by-august-1?author=Hank+Berrien&amp;category=undefined&amp;elementPosition=2&amp;row=3&amp;rowHeadline=Latest+News&amp;rowType=Vertical+Carousel&amp;title=Bessent%3A+Trump+Will+Revive+Foreign+Tariffs+If+Countries+Don%E2%80%99t+%E2%80%98Move+Along%E2%80%99+By+August+1">told</a> CNN on Sunday that Trump plans to send letters to countries, warning them to &#8220;move things along&#8221; or tariffs will &#8220;boomerang back to your April 2 tariff level.&#8221;
&#8220;So I think we’re going to see a lot of deals very quickly,&#8221; Bessent added.
Trump is also ramping up <a href="https://www.dailywire.com/news/trump-threatens-tariffs-for-countries-backing-anti-american-global-alliance?topStoryPosition=undefined&amp;author=Hank+Berrien&amp;category=News&amp;elementPosition=2&amp;row=1&amp;rowHeadline=Top+Stories&amp;rowType=Top+Stories&amp;title=Trump+Threatens+Tariffs+For+Countries+Backing+%E2%80%98Anti-American%E2%80%99+Global+Alliance">pressure</a> on countries that align with &#8220;anti-American&#8221; trade policies of the BRICS nations, which include Brazil, Russia, India, and China. Ten countries have recently become &#8220;partner states&#8221; with BRICS, which could potentially lead to their inclusion as member nations. The 10 &#8220;partner states&#8221; include Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Thailand, Vietnam, Uganda, and Uzbekistan.
&#8220;Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff,&#8221; Trump posted on Truth Social as the BRICS nations met in Rio de Janeiro. &#8220;There will be no exceptions to this policy. Thank you for your attention to this matter!&#8221;
The stock market is down on Monday amid President Trump&#8217;s renewed push for trade. The Dow Jones Industrial Average futures dropped 70 points Monday morning, the S&amp;P 500 futures fell 0.3%, and the Nasdaq 100 futures were down 0.5%.

Scott Bessent

Bessent Promises ‘Several’ Trade Announcements Over ‘The Next 48 Hours’

Stock Market

President Donald Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/114809528606729733" target="_blank" rel="noopener">warned</a> on Sunday that any countries considering alignment with the BRICS intergovernmental organization would face an additional 10% tariff, with no exceptions.
The BRICS group was initially founded in 2009 by Brazil, Russia, India, and China as a forum for discussing coordinated policies, much like the G7 countries, which include the United States, Canada, France, Germany, Italy, Japan, and the United Kingdom. Other countries that have joined BRICS include South Africa, Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia, and the United Arab Emirates.
“Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff,” Trump posted on Truth Social. “There will be no exceptions to this policy. Thank you for your attention to this matter!”
Last December, as president-elect, Trump <a href="https://www.bbc.com/news/articles/cgrwj0p2dd9o">warned</a> the BRICS countries against developing a currency to challenge the American dollar, stating, &#8220;The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER.”
“China and Russia see BRICS as a way to challenge the United States’ influence on geopolitics and decision-making, and have pushed the group to grow in size,” The New York Times has <a href="https://www.nytimes.com/2025/07/05/world/americas/iran-brics-summit-rio-de-janeiro.html">noted</a>.
Meanwhile, at the BRICS summit on Sunday in Brazil, representatives of the Iranian government, seeking allies, attended the meeting. On Sunday, the BRICS group issued a statement condemning President Trump’s strike on Iran’s nuclear facilities, <a href="https://www.scmp.com/news/china/diplomacy/article/3317159/brics-leaders-set-condemn-strikes-iran-avoid-direct-mention-us-israel">calling</a> them a “violation of international law.”
In January, nine countries <a href="https://geopoliticaleconomy.com/2024/10/26/brics-13-partner-countries-summit-kazan-russia/">became</a> “partner states” with BRICS, a first step toward joining and becoming official members. Those countries included Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Thailand, Uganda, and Uzbekistan. Last month, Vietnam became another “partner state,” a designation that <a href="https://www.reuters.com/world/china/vietnam-admitted-brics-partner-country-brazil-says-2025-06-13/">permits</a> a country to participate in BRICS summits and other discussion sessions.
At the meeting in Brazil, Dilma Rousseff, the chair of the New Development Bank (NDB), which was established by the BRICS nations, boasted, “Today we have strong credit ratings, including a AAA grade from the Japanese agency JCR, and we are expanding into new markets, such as yen-denominated instruments and the Middle East,” then warned against economies relying on the U.S. dollar for external financing, as she declared,  “Any business or government that borrows in foreign currency becomes subject to decisions made by the Federal Reserve or other central banks in developed nations.”
“As a concrete example of this alternative approach, she pointed to a project in Brazil funded directly in renminbi, without the need for dollar conversion,” the BRICS portal <a href="https://infobrics.org/en/post/51428/">reported.</a>

BRAZIL-BRICS-SUMMIT

Trump Threatens Tariffs For Countries Backing ‘Anti-American’ Global Alliance

BRICS

Iran

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Canada ended a digital service tax that would have hit major American tech companies hard after President Donald Trump announced he was ending trade talks with the country over the levy.
Canada’s Department of Finance said Sunday that it would rescind its Digital Service Tax (DST) in “anticipation of a mutually beneficial comprehensive trade arrangement with the United States.” The reversal came after Trump said on Friday that he was “terminating” trade discussions. 
The tax, which was expected to take effect on Monday, was anticipated to have a significant impact on United States-based companies like Amazon, Google, Meta, and Apple. 
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“Canada’s new government is focused on building the strongest economy in the G7 and standing up for Canadian workers and businesses,” <a href="https://www.canada.ca/en/department-finance/news/2025/06/canada-rescinds-digital-services-tax-to-advance-broader-trade-negotiations-with-the-united-states.html" target="_blank" rel="noopener">said</a> Minister of Finance and National Revenue François-Philippe Champagne. “Rescinding the digital services tax will allow the negotiations of a new economic and security relationship with the United States to make vital progress and reinforce our work to create jobs and build prosperity for all Canadians.”
Earlier this month, Champagne said that the Digital Service Tax would be implemented despite opposition from the United States. He <a href="https://www.cbc.ca/news/politics/canada-digital-services-tax-1.7565966" target="_blank" rel="noopener">said</a> on June 19 that the tax was “going ahead” as scheduled and would be applied. 
The digital service tax was <a href="https://www.canada.ca/en/services/taxes/excise-taxes-duties-and-levies/digital-services-tax.html" target="_blank" rel="noopener">enacted</a> to require “foreign and domestic large businesses to pay tax on certain revenue earned from engaging with online users in Canada,” according to the Canadian government. The tax would have cost American businesses up to $2.3 billion annually, <a href="https://ccianet.org/research/reports/impacts-canada-proposed-digital-service-tax-united-states/" target="_blank" rel="noopener">according</a> to a study conducted by the Computer and Communications Industry Association. 
Canadian Prime Minister Mark Carney said Sunday that he and Trump had agreed to continue trade discussions with the hope of signing an agreement by July 21. 
The resumption of talks follows Trump&#8217;s social media berating of Canada on Friday. 
“We have just been informed that Canada, a very difficult Country to TRADE with, including the fact that they have charged our Farmers as much as 400% Tariffs, for years, on Dairy Products, has just announced that they are putting a Digital Services Tax on our American Technology Companies, which is a direct and blatant attack on our Country,” Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/114756567645919781">posted</a> on Truth Social. “Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately. We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven day period.”
Several other trade deadlines are looming, including a July 9 cutoff for the United States and the European Union to make a deal before 50% tariffs on European imports are imposed.

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