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The Trump Administration is still negotiating trade deals on numerous fronts, with varying degrees of success. President Trump on Tuesday said that both the European Union and Japan are driving a hard bargain, though on Monday he left the G7 meeting in Canada to deal with the escalating conflict between Israel and Iran.
European Commission President Ursula von der Leyen told reporters at the G7 summit that the objective was still to reach a deal before higher reciprocal tariffs go into effect on July 9.
What looks a bit more optimistic? A deal between the United States and Canada, as Prime Minister Mark Carney said the two sides are aiming for a deal within 30 days. As with all things trade, things are never as easy as people say.
Tariffs remain a point of contention across the U.S. economy as well. A small business on Tuesday asked the U.S. Supreme Court to weigh in on whether Trump's sweeping tariffs are even legal. The company, known as Learning Resources, won an earlier argument in court that was later put on hold.
Trump's approach to trade has not helped his standing with the U.S. public on the economy. His approval rating there - unlike his first term - has generally trailed his overall approval. In the most recent Reuters poll, Trump's 42% approval rating was a few points better than his 39% rate on the economy.
The sour mood may have something to do with sticker shock. Various companies have been hiking prices, the most recent being Mitsubishi Motors, which said it was bumping up prices by about 2% as tariffs eat into profits.
Read the latest tariff headlines below. If you like this newsletter or have suggestions on how we can make it better, send me an email to david.gaffen@thomsonreuters.com.
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