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Trade Tensions Rise as EU Prepares Retaliation Against U.S. Tariff Hike

The European Union has strongly condemned President Donald Trump's decision to double tariffs on imported steel and aluminum, warning of swift countermeasures that could escalate global trade tensions. Announced Friday near Pittsburgh, Trump raised existing steel and aluminum tariffs from 25% to 50%, aiming to protect U.S. industry and bolster a $14.9 billion Nippon Steel–U.S. Steel deal. The European Commission responded sharply, calling the move a threat to transatlantic economic stability and global supply chains. “This decision adds further uncertainty to the global economy and increases costs for consumers and businesses on both sides of the Atlantic,” a spokesperson said. The EU is finalizing consultations on expanded retaliatory tariffs, set to take effect by July 14 unless a negotiated solution is reached. The reaction from global trade partners was swift. Canada’s Chamber of Commerce criticized the tariffs as a threat to North American economic security, while Canada’s Uni...
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Fundraising Halt: Biden's July Donations Take a Dive

 

In a surprising turn of events, President Joe Biden's fundraising efforts have hit a significant roadblock. Several key fundraisers for Biden's reelection campaign have been put on hold as July donations have seen a sharp decline. 

This sudden drop in financial support has raised concerns among Democratic sources involved in the events. The Biden Victory Fund has also issued a memo instructing a pause in donor calls, signaling a potential shift in campaign strategy. 

Despite these challenges, House Democrats have managed to secure a substantial fundraising haul, indicating a complex financial landscape for the party. The Biden campaign's difficulties come at a critical juncture, with the reelection team bracing for a seismic fundraising hit following a recent debate that has taken a toll on operations. 

The situation has led to a growing apprehension within the party, with some advisers and operatives expressing fears that Biden's fundraising is 'cratering' amid a slowdown in both large and small donor contributions. As the campaign navigates this financial turbulence, the implications for Biden's reelection prospects remain uncertain.

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