Trump cries total violation over China and tariffs

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Weekend Briefing

From Reuters Daily Briefing

By Robert MacMillan, Reuters.com Weekend Editor

Welcome to this Saturday's edition of the Weekend Briefing. First up, I recommend this story about how Donald Trump's cuts are forcing safety trainers to scale back or wind down programs for fishermen, loggers and other rural workers. The latest World News podcast explores why Gen Z men's politics are moving to the right and women's to the left. And the latest edition of City Memo takes us to Montevideo, the capital of Uruguay.

Trump: 'So much for being Mr. NICE GUY!'

REUTERS/Leah Millis

Tariffs: President Trump said China violated an agreement with the U.S. to mutually roll back tariffs and trade restrictions for critical minerals and issued a new threat to get tougher with Beijing. Trump also said he would double the tariff on foreign-steel imports to 50%. Global stocks notched a weekly gain despite roiling over two key court rulings on the legality of the U.S. tariffs.
TACO & FAFO: Market observers have taken a cue from Trump's fondness for condensing slogans into catchy acronyms. Here's a brief list of the ones that you should know if you are anything like me, that is to say, embarrassingly slow to catch on.

Elon Musk used a chainsaw for a haircut

DOGE and weave: Musk is leaving the Trump administration after upending several federal agencies – as well as Tesla – without delivering the $2 trillion in savings that he promised. An ex-staffer predicts DOGE's demise without its demiurge. Trump said Musk won't be a stranger, despite complaints from cabinet members.
Deportations: The Supreme Court swept away another obstacle to mass deportation, showing its willingness to back Trump's hardline approach to immigration. The justices, though, have signaled reservations with how he is carrying it out. An appeals court refused to allow the administration to carry out mass layoffs of federal workers. The White House pulled two ICE officials from their posts as Trump demands more migrant arrests.

Ukraine keeps Russia guessing

TBD: Ukraine is resisting pressure from Russia and the U.S. to commit to turn up at peace talks in Istanbul. A Ukrainian spokesman said it needs to see Russia's proposals first. The U.S. said its proposal for Russia to accept a 30-day ceasefire is Moscow's "best possible outcome." President Trump is under pressure to impose sanctions on Russia, which wants to prevent NATO's eastern expansion and to see an end to current sanctions.
A second proposal: The U.S. is calling for a 60-day ceasefire in Gaza. The White House said Israel signed off on it, while Hamas said it's insufficient. Violence is a problem in Gaza as hungry people fight for food and aid trickles in. Hamas executed four men for looting aid convoys. Israel said it killed Hamas' military chief Mohammad Sinwar. Israel approved 22 new Jewish settlements in the occupied West Bank. Syria and Israel held face-to-face meetings to prevent conflict in the border region.

Can we have a little privacy, please?

Ready to sell: Boards and owners of U.S. retail companies are warming to buyout offers after taking a beating from Trump's tariffs. The wounds are evident: Costco missed quarterly revenue expectations and pulled forward some goods shipments, and Macy's cut its annual profit forecast. Speaking of deal opportunities, Abu Dhabi's state-owned utility is looking at buying companies in the U.S.
Copper, cars and cases: The Supreme Court declined to hear a Native American group's bid to block Rio Tinto and BHP from gaining control of land in Arizona used for sacred Apache rituals. Southwest Airlines ended its free checked-luggage policy. The first bag will cost $35, the second $45. Nissan is offering buyouts to U.S. workers and freezing merit increases worldwide.

Before I forget…

Germany keeps a third of its gold at the Federal Reserve. This used to be little more than a talking point among right-wingers, but it has become a matter of public debate now that Trump is back in the White House.
Trump's campaign against Harvard continued with extra vetting for visa applicants looking to travel to the university. Schools in other countries want to take advantage of the crackdown.
France's lower house approved a bill to legalize assisted dying, and the legislation is expected to pass the Senate. More than 90% of French people favor such laws.
Namibia's politicians and people are voicing fresh calls for reparations from Germany, whose soldiers killed some 75,000 people during its colonial rule in southwestern Africa.
Years of raw sewage spilling into Kanfers Dam outside Kimberley, South Africa, have caused pink lesser flamingos to flee. Only three breeding sites remain, two in Botswana and one in Tanzania.
Nepal abolished its monarchy 17 years ago. This week, thousands of royalist supporters protested in Kathmandu for its restoration.

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