Friday, May 30, 2025

US goods trade deficit narrows sharply in April as imports plungeNew Foto - US goods trade deficit narrows sharply in April as imports plunge

WASHINGTON (Reuters) -The U.S. trade deficit in goods narrowed sharply in April as the boost from the front-running of imports ahead of tariffs faded. The goods trade gap contracted 46.0% to $87.6 billion last month, the Commerce Department's Census Bureau said on Friday. Goods imports decreased $68.4 billion to $276.1 billion. Exports of goods increased $6.3 billion to $188.5 billion. A rush to beat import duties pushed the goods trade deficit to a record high in March. The front-running of imports is probably not over. Higher duties for most countries have been postponed until July, while those for Chinese goods have been delayed until mid-August amid negotiations between President Donald Trump's administration and trade partners. Economists said that could see some businesses trying to bring in more imports given the lack of clarity about what happens after the 90-day pauses. Adding to the uncertainty, a U.S. trade court on Wednesday blocked most of Trump's tariffs from going into effect in a sweeping ruling that the president overstepped his authority. They were temporarily reinstated by a federal appeals court on Thursday. A record trade gap accounted for a large part of the 0.2% annualized rate of decline in gross domestic product in the first quarter. (Reporting By Lucia Mutikani; Editing by Chizu Nomiyama)

US goods trade deficit narrows sharply in April as imports plunge

US goods trade deficit narrows sharply in April as imports plunge WASHINGTON (Reuters) -The U.S. trade deficit in goods narrowed sharply in ...
Ukraine keeps Russia guessing over participation in June 2 peace talksNew Foto - Ukraine keeps Russia guessing over participation in June 2 peace talks

By Christian Lowe and Dmitry Antonov KYIV/MOSCOW (Reuters) -Ukraine on Friday resisted pressure from Moscow and Washington to commit itself to attending peace talks with Russia on June 2, saying it first needed to see the proposals Russian negotiators plan to bring to the talks. After U.S. President Donald Trump urged Moscow and Kyiv to work together on a peace deal to end their three-year-old war, Russia proposed sitting down with Ukrainian officials next week in Istanbul. Kyiv responded by saying it was committed in principle to the search for peace, but that it was waiting for a memorandum from the Russian side setting out their proposals, which it had still not received. "We are ready for dialogue, but we demand clarity - clear and, most importantly, balanced proposals," the Ukrainian president's chief of staff Andriy Yermak said in remarks aired on national television. The war, the biggest on the European continent since World War Two, began when Russia launched a full-scale invasion of Ukraine in February 2022. Expectations for the talks are modest because the positions staked out so far by the two sides are far apart and work between them has yet to begin in earnest on narrowing the gap. Nevertheless, both Kyiv and Moscow are keen to demonstrate to Trump that they are on board with his efforts to end the conflict. Kyiv is seeking more U.S. military aid, while Moscow hopes he will ease economic sanctions on Russia. In Moscow, Kremlin spokesman Dmitry Peskov said the Russian delegation would be travelling to Istanbul and would be ready for talks with Ukraine on Monday morning. "At the moment, everyone is focused on the direct Russia-Ukraine negotiations. A list of conditions for a temporary truce is being developed," Peskov told reporters. Reuters reported earlier this week that Putin's conditions for ending the war in Ukraine include a demand that Western leaders pledge in writing to stop enlarging NATO eastwards. Trump's envoy to Ukraine, Keith Kellogg, said earlier on Friday that Russia's concern over the eastward enlargement of NATO was fair and the United States did not want to see Ukraine in the U.S.-led military alliance. Commenting on Kellogg's statement, Peskov said: "We are pleased that these explanations by the president are understood, including in Washington." TURKISH HOSTS Turkey's government hosted a previous round of Ukrainian-Russian talks in Istanbul on May 16 -- which ended with no breakthrough -- and has again offered its services as a mediator. Speaking on a visit to Kyiv, Turkish Foreign Minister Hakan Fidan told reporters: "As long as (the sides) remain at the negotiating table, progress can surely be seen." If the talks go ahead in Istanbul, the next step would be to try to host a meeting between Trump, Russian President Vladimir Putin, and Ukrainian President Volodymyr Zelenskiy, he added. But Ukrainian Foreign Minister Andrii Sybiha, who appeared alongside Fidan at a news conference, sounded a note of caution. "In order for the next planned meeting to be substantive and meaningful, it is important to receive a document in advance so that the delegation that will attend has the authority to discuss the relevant positions," Sybiha said. Sybiha did not spell out what Kyiv would do if it did not receive the Russian document, or set out a deadline for receiving it. "We want to end this war this year, and we are interested in establishing a truce, whether it is for 30 days, or for 50 days, or for 100 days," he said. Zelenskiy was later shown meeting and shaking hands with Fidan in Kyiv in footage released by the Turkish foreign ministry. Russia has said its delegation at the Istanbul talks will be led by Vladimir Medinsky, a Kremlin aide who led the Russian team at the previous round of talks. (Additional reporting by Tuvan Gumrukcu, Anna Pruchnicka and Tom Balmforth; Editing by Ros Russell)

Ukraine keeps Russia guessing over participation in June 2 peace talks

Ukraine keeps Russia guessing over participation in June 2 peace talks By Christian Lowe and Dmitry Antonov KYIV/MOSCOW (Reuters) -Ukraine ...
Trump Needs to Get Real on TradeNew Foto - Trump Needs to Get Real on Trade

U.S. President Donald Trump displays a signed executive order during a tariff announcement in the Rose Garden of the White House in Washington, DC, US, on Wednesday, April 2, 2025. Credit - Jim Lo Scalzo—EPA/Bloomberg via Getty Images The roller coaster that is President Donald Trump's trade war steamed ahead this week. On Wednesday, a federal district court dealt a major blow to Trumpwhen it ruledthat hissweeping global tariffswere illegal. On Thursday, an appeals courtruledthe levies could remain in place for now. And then, on Friday, Trumpaccused Chinaof violating a preliminary trade deal andsuggested he would respond. As all this unfolds and the U.S. legal systemlumbers toward a final verdict, one thing is clear: the White House needs to get a real trade strategy, and fast. Read More:The Five Small Businesses That Helped Block Trump's Tariffs Few issuesare more fundamentalto Trump's worldview than trade. For Trump, trade is not merely an economic issue, but a litmus test of whether America iswinning or losing on the world stage. Even matters of war and peace, such as Taiwan and the South China Sea, have seemingly taken a back seat toTrump's stubborn fixationon China's trade surplus with the U.S. During his first term, Trump launched a trade war against China with a goal, ashe framed it, of punishingChina's unfair trade practices. The trade war ended with aPhase-one dealwherein China promised to increase its future purchases of American products and enact structural reforms. Ultimately, this dealfailed to deliver. The Chinese underperformed on their pledges. Trumpblamedthe Biden Administration for not enforcing the deal. Unbowed by the disappointment of his first trade war with China, Trump launched a second one when he returned to office earlier this year. This time, he surrounded himself with loyalists who supported his instincts for public confrontation and rapid escalation to force China to the negotiating table. Trump's approach appeared to be built on an assumption that China's economy was brittle, and Beijing would buckle under pressure. Read More:Why Trump Will Blink First on China That bet backfired. Chinaretaliatedwith counter-tariffs. Beijing alsoimplementednovel new export controls on critical minerals and magnets upon which U.S. industries depend. Chinese policymakers moved swiftly to shore up China's economy while expanding trade ties with other partners. Rather than fold, China punched back. As the economic costs of the trade war mounted onbothsidesof the Pacific, Trumpdesignatedhis Treasury Secretary Scott Bessent to negotiate a90-day truce. The Chinese accepted. Trump's trade war with China is not over. It is merely paused. Trump will continue returning to the well of grievance about America's trade imbalance with China until he can secure a deal that he can sell as a win to the American public. But therein lies the rub. Based on my recent exchanges with Chinese officials and experts, it seems Beijing has taken America's measure in recent weeks and concluded that China has greater capacity to withstand economic pain than the U.S. China's leaders lack confidence that any agreement with the mercurial Trump will last. At a more fundamental level, China's leaders are unclear on what specifically Trump seeks—and what he would offer in return. On Thursday, Treasury Secretary Bessent said that U.S.-China talks were "a bit stalled" and suggested Trump and Xi Jinping "have a call." But until the Trump Administration can articulate its concrete objectives, its strategy for achieving them, and its vision of a productive process for doing so, the U.S.-China trade war will stay stalemated. Read More:It's Time for Trump and Xi to Meet To be clear, the Trump Administration has legitimate grievances about China's unfair economic practices. China'smarket access barriers,forced technology transfers, andstate-directed subsidiesto preferred industries and businesses have createdmassive global trade distortions. But grievance is not a strategy. And daily improvisation is not a formula for progress in negotiations. The 90-day trade truce gives the Trump Administration time and space to do its homework. That means discarding the failed assumptions that Xi will cave under pressure and instead doing the hard work of homing in on what specifically Trump is aiming to achieve and what he is prepared to give in return. In the end, trade policy is not about scoring points or undermining competitors. It is about making America stronger, safer, and more prosperous. If Trump wants to succeed, he will need to move beyond theatrics and prepare for the grinding process of negotiating with China that awaits. Contact usatletters@time.com.

Trump Needs to Get Real on Trade

Trump Needs to Get Real on Trade U.S. President Donald Trump displays a signed executive order during a tariff announcement in the Rose Gard...
Trump lashes out at judges on tariffs, blames Federalist Society for bad legal adviceNew Foto - Trump lashes out at judges on tariffs, blames Federalist Society for bad legal advice

President Donald Trumpattacked the judges whoblocked his tariffs, a ruling latertemporarily pausedon appeal, and blamed the Federalist Society, a conservative legal group for giving him badadvice during his first termon judicial picks. In alengthy social media postMay 29, part of apattern of Trump lashing out at a judiciarythat has ruled against major pieces of his second-term agenda, the president directed his ire at the three-judge panel of the U.S. Court of International Trade. The panel is the same one that invalidated his use of an emergency-powers law to implement tariffs. "Where do these initial three Judges come from?" Trump asked. "How is it possible for them to have potentially done such damage to the United States of America?" Trump and his allies have led anintense pressure campaignon the judiciary for blocking some of his unprecedented and aggressive uses of executive power. Trump routinely slams judges on social media and has threatened their impeachment. This time Trump also is turning his anger toward a pillar of the conservative legal establishment. He singled out the Federalist Society, whichduring Trump's first termadvised him on judicial nominations, including eventualSupreme Courtpicks Neil Gorsuch, Brett Kavanaugh and Amy Coney Barrett. More:How Trump's clash with the courts is brewing into an 'all-out war' "I was new to Washington, and it was suggested that I use The Federalist Society as a recommending source on judges," Trump said. "I did so, openly and freely." Trump then criticized Leonard Leo, the Federalist Society's former executive vice president and current co-chairman of the board, calling him a "bad person." The group did not immediately respond to a request for comment. "I am so disappointed in The Federalist Society because of the bad advice they gave me on numerous judicial nominations," Trump wrote. Trump turned to a close ally for one of his latest judicial picks,nominating Justice Department official Emil Bove, his former personal attorney. (This story has been updated with more information.) This article originally appeared on USA TODAY:Donald Trump blames Federalist Society for bad advice on judges

Trump lashes out at judges on tariffs, blames Federalist Society for bad legal advice

Trump lashes out at judges on tariffs, blames Federalist Society for bad legal advice President Donald Trumpattacked the judges whoblocked h...
5 things to know for May 30: Wildfires, Israel-Hamas, Tariffs, Trump death threat, Covid-19New Foto - 5 things to know for May 30: Wildfires, Israel-Hamas, Tariffs, Trump death threat, Covid-19

C-O-N-G-R-A-T-U-L-A-T-I-O-N-S, Faizan Zaki! The 13-year-old from Allen, Texas,won the 2025 Scripps National Spelling BeeThursday night. Zaki, who hascompeted in the annual contest four times, came in second last year. Here's what else you need to know toGet Up to Speed and On with Your Day. The Canadian provinces of Manitoba and Saskatchewan have declaredstates of emergencydue to a series of wildfires. The blazes, which began on Monday in Saskatchewan, have rapidly expanded in size,prompting the evacuation of more than 18,000 people. The intensifying fires are also beginning to send hazardous smoke toward the US. As of Thursday, just over 160 wildfires were burning across Canada, and about half were uncontrolled. Collectively, they have burned more than 1.56 million acres — 40% above the 10-year average for this point in the year. According to National Resources Canada,above-average fire weather severity is forecastfor almost all of Western Canada in June and July. Israel has accepted a newceasefire proposalwith Hamas from US envoy Steve Witkoff, which includes the release of 10 living hostages and 18 deceased hostages, as well as a 60-day truce. Although Hamas said the latest framework doesn't "respond to any of our people's demands, foremost among which is stopping the war and famine," the militant group offered three counterpoints: 1) Hamas will agree to the release of the hostages and a 60-day ceasefire if the US can assure that negotiations over a permanent ceasefire will continue and the fighting will not resume after the 60 days. 2)Humanitarian assistancewill be carried out through the UN channels. 3) The Israel Defense Forces will agree to pull back to the positions that they held on March 2, before Israel re-launched its military operations. Amid these negotiations, Israelapproved a massive expansion of Jewish settlementsin the occupied West Bank. Peace Now, an Israeli non-governmental organization that tracks settlements, said it was the largest expansion since the signing of the Oslo Accords more than 30 years ago. A federal appeals court on Thursday paused the Court of International Trade's ruling that President Donald Trumpdidn't have the authorityto impose sweeping tariffs using the emergency powers he declared earlier this year. The ruling by the US Court of Appeals for the Federal Circuit means Trump can continue to impose tariffs using emergency powers, and adds tothe confusion and uncertaintyabout the future of his economic policy. The case could potentially work its way upto the Supreme Court. Homeland Security Secretary Kristi Noem posted on X this week that an undocumented migrant from Mexico had been arrested for allegedly sending a letter threatening to kill President Trump. She also included a picture of the man and a copy of the letter. However, investigators now believethe migrant was set up. According to several sources, law enforcement believes Ramon Morales Reyes, 54, didn't write the letter, which was sent to an Immigration and Customs Enforcement office and other agencies. Instead, investigators suspect a person who is currently awaiting trial in a robbery and assault case in which Reyes was the victim wrote the letter in an attempt to have him deported. Federal officials who asked for a handwriting sample from Reyes also determined that his handwriting and the threatening letter didn't match. SARS-CoV-2, the virus that causes Covid-19, continues to evolve. A new strain called NB.1.8.1 has been detected in several states and designateda variant under monitoringby the World Health Organization. Since NB.1.8.1 is a part of the Omicron family, the WHO said that currently approved Covid-19 vaccines should be effective. However, in recent weeks, the Department of Health and Human Services has madesignificant changesto how Covid-19 vaccines are approved and which groups they are recommended for. A new framework could limit Covid-19 vaccines to older Americans and people at higher risk of serious infection. HHS Secretary Robert F. Kennedy Jr. also said the vaccinewill no longer be recommendedfor pregnant women and healthy children. Kennedy Center exec firedA far-right political activist with a history of anti-gay rhetoric and promoting conspiracy theories about former President Barack Obama said hewas sackedafter only a month on the job following a CNN investigation. Fewer perks, more profitStarbucks plans toeliminate one of its top loyalty perks: the 25-star bonus for customers who bring in a reusable cup for drink orders. The reason for the raspy voiceSinger Miley Cyrus has revealed thatshe has Reinke's edema, a noncancerous vocal cord disorder. A whole new ball gameMajor League Baseball ispurchasing a stakein the Athletes Unlimited Softball League, which will feature four teams — the Bandits, Blaze, Talons and Vaults — playing 24 games each against one another between June 7 and July 23. Just imagine how fun the holidays will beActor/comedian Eddie Murphy's son Eric Murphyrecently wedJasmin Lawrence, actor/comedian Martin Lawrence's daughter. "Yeah, we're in-laws," Murphy said on "The Jennifer Hudson Show." Which airline, that at one time had a policy that "bags fly free," now charges travelers for checked luggage?A. SpiritB. FrontierC. SouthwestD. JetBlue Take me to the quiz! $50,000That's how muchreward moneyauthorities are offering to anyone with information leading to the arrest of a convicted double murderer or an experienced fugitive who broke out of a New Orleans jail. "I found myself surrounded by cumulonimbus clouds and trapped inside. It was terrifying — everything around me was white. Without the compass, I wouldn't have known which direction I was heading. I thought I was flying straight, but in reality, I was spinning." — Chinese paraglider Peng Yujiang,onsurviving an accidental high-altitude flightwithout oxygen. Check your local forecast here>>> Harvard president receives standing ovationDuring the university's commencement ceremony on Thursday, Alan Garberreceived applausewhen he made an indirect reference to the university's pushback against the White House's effort to keep international students from attending the school. For more CNN news and newsletters create an account atCNN.com

5 things to know for May 30: Wildfires, Israel-Hamas, Tariffs, Trump death threat, Covid-19

5 things to know for May 30: Wildfires, Israel-Hamas, Tariffs, Trump death threat, Covid-19 C-O-N-G-R-A-T-U-L-A-T-I-O-N-S, Faizan Zaki! The ...

 

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