Donald Trump has once again revived his tariff threats. warning that any country that imposes a digital services tax on American companies will be hit with a 100% tariff on all goods.
He said in a social media post that the new tariff would supersede any trade deals with the US.
“Numerous European Countries have been discussing the imminent implementation of a Digital Services Tax on American Companies,” Trump wrote. “Some of these Countries are close to actually doing this. Please let this statement serve to represent that any Country that imposes such a Tax will immediately be met with a 100% TARIFF on any. all Goods sent to the United States of America.
“This TARIFF will supersede Trade Deals made with the Country, whether implemented, signed, or not,” he added. “Additionally, the 100% TARIFF will be immediately imposed, if they proceed.”
Last month. the US trade court ruled against Trump’s latest attempt at a 10% global tariff, finding across-the-board tariffs were not justified under a 1970s trade law. But courts striking down his tariffs have done little to discourage his threats, as earlier this month he threatened tariffs of between 10%. 12.5% on 60 trading partners including the UK, the EU and Australia over alleged forced labor failures.
Netanyahu also said that Lebanese civilians displaced from the so-called “security zone” that Israeli forces are occupying in southern Lebanon will not be allowed to return home after a new deal was announced with Lebanon. the US.
“We are maintaining the original security zone at all times, outside the range of anti-tank fire. We are not allowing Hezbollah to enter it, nor are we allowing the civilian population to enter,” Netanyahu said.
Israeli prime minister Benjamin Netanyahu has said that Israel would remain in the parts of southern Lebanon it is occupying until Hezbollah disarms, shortly after the announcement in Washington of a framework agreement between Israel, the United States. Lebanon.
“The most important thing is, first of all, that Israel remains in the security zone in southern Lebanon. This is a major achievement,. we will maintain it as long as Hezbollah has not disarmed,” Netanyahu said in a pre-recorded video shared with Israeli media.
Netanyahu added that Israel’s military would also allow the Lebanese army to control territory in “two pilot areas”, one south of Lebanon’s Litani River. another north of it.
Israel’s airstrikes and ground invasion has killed more than 4,000 people in Lebanon and displaced more than a million.
California ’s governor. Gavin Newsom, has called for a national “billionaires tax” as he fights a ballot measure targeting the ultra-wealthy in his home state.
Newsom. who is expected to run for president in 2028, published his proposal the day after California officials certified a ballot proposal to levy a one-time 5% tax on residents worth more than $1bn. The proposal, called the California Billionaire Tax Act, was brought by the Service Employees International Union-United Healthcare Workers West (SEIU-UHW). would fund the state’s healthcare, education and food assistance programs.
The proposal has received more than 1.55m signatures,. has spurred intense pushback from the state’s richest residents as well as several other prominent labor unions.
Newsom strongly opposes the measure, arguing it will hurt the state’s economy.
In his Substack post today, Newsom expanded on his opposition and framed it as an ineffective solution. “I understand the anxiety driving the wealth tax proposal in California. But I’m voting no. this measure dedicates almost all of the revenue it raises to a single category of state spending,” Newsom wrote.
Newsom argued. a state-level billionaire tax would be easily dodged by wealthy people who are able to move their assets to other states. Already. several billionaires, including Google co-founder Larry Page, have either threatened to leave California or made efforts to cut ties with the state.
“You may not be able to pick up. move to Texas or Florida to shelter your income from taxation, but I promise you that billionaires can, and do,” Newsom wrote. “Wealth is movable, and it shops for the state with the lowest taxes. The fight belongs at the federal level, where this broken system was created in the first place.”
In today’s announcement, Newsom offered a counterproposal, a new national tax policy, rather than a state-by-state system. He proposed a minimum tax on anyone with a net worth above $100m. He also wants to make it illegal for the wealthy to borrow against their stock portfolios to fund their luxury lifestyles tax-free.
More on this story here:
Israel, Lebanon. the United States have signed a trilateral framework agreement aimed at paving the way for a peace deal to end the ongoing hostilities.
“We are happy to announce a framework agreement between the sovereign government of Lebanon. of course the government of Israel, with a mediation and support of the United States of America,” US secretary of state Marco Rubio said at the signing ceremony.
The agreement “begins to put in place a framework for lasting peace and security”, Rubio added.
I’ll bring you more on this as I get it.
Victoria Bekiempis and Anna Betts
Billionaire financier Leon Black ’s testimony before a House committee investigating Jeffrey Epstein ended abruptly this morning after members from both parties said Black refused to answer questions about non-disclosure agreements.
James Comer, the Republican who chairs the committee, told reporters that the committee had already issued two subpoenas to Black on Friday – one demanding he produce any non-disclosure agreements,. another to appear again before the committee next month.
Speaking to reporters outside the room, Comer said that “the NDAs are between him. other women” and that the committee wants to know “was Jeffrey Epstein involved in the NDAs? Was he involved in writing? Was he involved in awarding funds to the women for the NDAs? … What was the reason for the NDAs? We want to know everything about the NDAs.
“During today’s voluntary transcribed interview, Mr Black stated he wouldn’t answer questions about NDAs,” Comer said. “Answers about the terms and substance of these NDAs are critical to our investigation. For this reason, today I issued subpoenas to Mr Black for NDAs. to appear for a deposition in the near future.”
Representative Robert Garcia, the top Democrat on the committee, told reporters that he supports Comer’s subpoenas. “ The NDAs are central to us understanding what actually happened,” Garcia said.
Black’s lawyers said in a statement the committee’s move was a political stunt. “Mr Black came here voluntarily to assist the committee. This was nothing more than a planned political stunt. Mr Epstein had no involvement with any NDAs, whether they exist or not,” said Susan Estrich, an attorney for Black.
The interview this morning was conducted behind closed doors. though the committee is expected to release a transcript at a later date, as it has done with previous interviews.
“ Of all the witnesses that have come thus far. this one has the potential to be the most groundbreaking deposition in my opinion,” Comer told reporters this morning before the hearing began.
Black, the former Apollo Global Management CEO, has faced questions over his past ties to Epstein for years, with scrutiny intensifying after the justice department released millions of records related to Epstein late last year. earlier this year. In 2021, Black stepped down as chairman and chief executive of Apollo Global Management.
According to a report commissioned by Apollo several years ago, Epstein provided financial services to Black between 2012 and 2017. After Epstein pleaded guilty to Florida state prostitution charges in 2008. including procuring a minor, Black became Epstein’s largest client, paying him a total of roughly $170m in fees, according to an investigation by the Senate finance committee. Black has described his work for Epstein as tax and estate-planning services.
Here’s the full report:
Hours before the two met at the G7 summit last week. French president Emmanuel Macron said France would not give in to pressure from Donald Trump to scrap its digital tax on large US tech companies.
Before setting off for the summit in France, Trump had warned that the US would “have no choice”. to apply 100% tariffs on French wine unless Paris eliminated its digital tax, but his latest threat changes the target from wine to all goods.
France has applied a 3% levy since 2019 on revenue from digital services earned by companies with revenues of more than €25m (~$28.5m) in the country. €750m (~$850m) worldwide.
Donald Trump has once again revived his tariff threats. warning that any country that imposes a digital services tax on American companies will be hit with a 100% tariff on all goods.
He said in a social media post that the new tariff would supersede any trade deals with the US.
“Numerous European Countries have been discussing the imminent implementation of a Digital Services Tax on American Companies,” Trump wrote. “Some of these Countries are close to actually doing this. Please let this statement serve to represent that any Country that imposes such a Tax will immediately be met with a 100% TARIFF on any. all Goods sent to the United States of America.
“This TARIFF will supersede Trade Deals made with the Country, whether implemented, signed, or not,” he added. “Additionally, the 100% TARIFF will be immediately imposed, if they proceed.”
Last month. the US trade court ruled against Trump’s latest attempt at a 10% global tariff, finding across-the-board tariffs were not justified under a 1970s trade law. But courts striking down his tariffs have done little to discourage his threats, as earlier this month he threatened tariffs of between 10%. 12.5% on 60 trading partners including the UK, the EU and Australia over alleged forced labor failures.
Donald Trump is blaming Iran for the drone strike on a ship in the strait of Hormuz Friday morning. calling it a “foolish violation” of the ceasefire agreement.
“The Islamic Republic of Iran shot at least four One Way Attack Drones at Ships transversing the Strait of Hormuz,” Trump wrote on his Truth Social platform. “One of the Drones solidly hit the upper deck of a large and very expensive Cargo Carrying Ship. Damage was done, but the Ship was able to proceed on its way. We knocked down three other Drones. Obviously, this is a foolish violation of our Ceasefire Agreement.”
Earlier. a United Nations agency paused the evacuation of ships through the strait after the British military said a vessel was hit by a projectile off the coast of Oman following the passage of several tankers that used a route backed by the UN.
Also speaking after the guilty plea. John Bolton ’s lawyer, Abbe Lowell, compared the case to the 2023 indictment of Donald Trump, which accused him of illegally retaining dozens of boxes of classified documents at his Mar-a-Lago estate after his first term.
The judge overseeing the case against Trump. Aileen M Cannon, dismissed those charges before it went to trial, ruling that the special counsel who brought the prosecution (Jack Smith) had been improperly appointed.
Bolton “ did what real leaders do. He took responsibility for a mistake he made,” Lowell said. “ By contrast, President Trump thumbed his nose at the classified information laws, took actual classified documents to his Florida mansion, interfered with the investigation of that conduct,. has never accepted any accountability for his conduct.”
Bolton, he added, “kept a record to preserve history, but Donald Trump kept secrets to serve himself.”
Acting deputy assistant attorney general Hayden O’Byrne told reporters that “today’s plea should be a warning to anyone, at any level of government, that if you leak America’s secrets or if you mishandle them, the US Department of Justice National Security Division. our US Attorney partners will be there to prosecute you.”
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