U.S. President Donald Trump meets with NATO Secretary Common Mark Rutte on the day of asserting a deal to get weapons to NATO, within the Oval Workplace on the White Home on July 14, 2025.
Nathan Howard | Reuters
This is a tariff we are able to get behind. At a White Home assembly on Monday with NATO’s secretary normal, Mark Rutte, U.S. President Donald Trump mentioned he would introduce “tariffs at about 100%” on Russia’s commerce companions if the Kremlin would not attain a deal to finish its invasion of Ukraine in 50 days.
Notably, the punitive measures can be carried out as “secondary tariffs,” Trump mentioned. In contrast to Trump’s regular tariffs, below which a particular nation is slapped with a levy, secondary tariffs impose the obligation on international locations and entities that purchase Russia’s exports.
Whereas these strikes had been meant to weaken Russia’s financial system, they do run the danger of drawing different international locations’ ire. In keeping with information from the Worldwide Commerce Centre, in 2024, Russia’s largest export was oil, and its largest consumers had been China, India and Turkey, in that order. Meaning these nations, amongst others, would successfully face a tariff of 100% from the U.S. — the very best of all up to date numbers introduced up to now — if they do not shift their shopping for patterns.
That mentioned, it is refreshing to think about tariffs not as a weapon in a commerce struggle (even when there could be collateral injury), however getting used for peace.
What it’s essential know immediately
And at last…
A mannequin of an eco-district, to be constructed out of engineered wooden, at the moment generally known as Stockholm Wooden Metropolis, by developer Atrium Ljungberg AB, in Sickla on the outskirts of Stockholm, Sweden, on Wednesday, July 12, 2023.
Erika Gerdemark | Bloomberg | Getty Photographs
Inside Europe’s billion-dollar wood metropolis
Part of Stockholm, the capital of Sweden, is ready to turn into the “world’s largest wood building venture,” in line with its developer Atrium Ljungberg, which can make investments 12 billion Swedish krona (about $1.25 billion) into the venture.
Sickla — an industrial space to the south of Stockholm’s middle as soon as identified for manufacturing diesel engines — is being redeveloped utilizing cross-laminated timber, with the fabric being utilized in its buildings’ core, flooring and partitions.
— Lucy Handley
