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Trump announced 30% tariffs for Mexico and the EU. The president posted letters addressed to European Commission President Ursula von der Leyen and Mexican President Claudia Sheinbaum on his Truth Social account, saying the import taxes would be placed on Mexico and the European Union effective August 1. Both trading partners have been negotiating with the American coterie for weeks, but neither has been able to finalize a deal. They responded by saying they will continue to seek agreements before the deadline. US equity futures fell Sunday evening following the news.
Updates from the Texas flood tragedy. Emergency workers in Kerr County, which suffered the worst in the July 4 flooding, were instructed yesterday by local police to leave the Guadalupe River corridor due to the threat of new flooding, although some operations were allowed to proceed later in the day. Also yesterday, Homeland Security Secretary Kristi Noem defended FEMA’s response to the disaster. She said she was not sure if a report released Friday by the New York Times, which found that the agency laid off hundreds of call center workers during the crisis, was true. Per the NYT, which cited anonymous sources, FEMA answered more than 99% of calls on July 5, but just 35.8% the next day and 15.9% on July 7. Noem said, “The anonymous attacks to politicize a situation are completely wrong.”
Superman won the weekend box office, boding well for DC Universe. The reboot starring David Corenswet in the eponymous role and Rachel Brosnahan as Lois Lane took the No. 1 spot with $122 million in ticket sales domestically, good for the third largest debut of the year behind A Minecraft Movie and Lilo & Stitch. The performance bodes well for both Warner Bros. and DC Studios. It’s the first movie released since DC co-CEOs James Gunn and Peter Safran were appointed in 2022, following a raft of failed superhero flicks. “The DC vision is clear, the momentum is real, and I couldn’t be more excited for what’s ahead,” Warner Bros. Discovery CEO David Zaslav said.—HVL
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