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Trump sounds off in Scotland. During a wide-ranging discussion with UK Prime Minister Keir Starmer, President Trump said he’d likely impose a 15% or 20% blanket tariff on imports from countries that have not reached new trade deals with the US, which is higher than the 10% that he announced in April. Trump also said he was “very disappointed” in Russian President Vladimir Putin and that he would give Russia 10 to 12 more days to negotiate a ceasefire with Ukraine or the US would hit Russia’s trading partners with tariffs, shortening a previous 50-day deadline. The president also called for the US to get more involved in providing humanitarian aid to Palestinians in Gaza, saying the US would “set up food centers” and asserting that there is “real starvation,” in contradiction to a denial from Israel’s prime minister.
France and Germany aren’t thrilled with the US–EU trade deal. While many European businesses hailed the tariff framework announced Sunday by President Trump and European Commission President Ursula von der Leyen—which will impose a 15% tariff on EU exports to the US—as a welcome avoidance of the worst-case scenario of a trade war, the leaders of the EU’s two biggest economies criticized the plan. Germany’s chancellor said it would “substantially damage” the nation’s finances, and France’s prime minister described it as “submission,” per the BBC. Other EU leaders also piled on, with Hungary’s Viktor Orban saying, “Trump ate von der Leyen for breakfast.” Meanwhile, representatives for the US and China resumed trade talks in Stockholm.
Get ready for Warner Bros. and Discovery Global. Warner Bros. and Discovery have gotten past that awkward phase of determining who gets to keep what after the breakup, with the company announcing yesterday the names and leadership of the two companies that will remain after it splits itself in two. The streaming and movie studio will be known as Warner Bros., with WBD CEO David Zaslav at the helm, and the cable television business (which also includes the Discovery+ streaming service) led by the current company’s CFO will be called Discovery Global. The company expects to complete the rupture, which will effectively undo the blockbuster 2022 merger that created it, by the middle of next year.—AR
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