Trump Says China Deal Is 'Very Close,' Threatens the EU, Talks Tariffs on Semis

President Donald Trump said the U.S. was "getting very close" to a deal with China, while also threatening to impose higher tariffs on the European Union.

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EU Continues to Press for Tariff Exemption on Wine, Spirits as Part of U.S. Deal

French politicians have called for alcoholic beverages to be exempt from a baseline 15% tariff that will hit a majority of goods from the EU later this week as part of the trade deal.

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U.S. Services-Sector Activity Slows

Activity in the U.S. services sector only marginally expanded in July, as employment contracted at a faster pace and U.S. trade policy continued to cause concern for businesses.

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Stocks Slip; Tariff Talks Continue With Switzerland, EU, China

Major U.S. stock indexes fell as the tariff roller coaster continued.

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Trump threatens drugmakers with 250% tariffs. Here's when higher levies could come.

The latest level of tariffs on the pharmaceutical industry is the highest yet from the president.

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Trump Rules Out Picking Scott Bessent as Fed Chair

The president said he is considering four Fed chair candidates, including Kevin Hassett and Kevin Warsh.

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Swiss President Dashes to Washington to Avert Crippling Trump Tariffs

The recent U.S. decision to impose a 39% levy stunned the Alpine nation and upended months of negotiations.

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China's Services Sector Activity Accelerates

A private gauge of China's services sector showed activity expanded at the fastest pace in more than a year in July, as demand improved during the summer travel rush.

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Australia Considers Critical Minerals Price Floor

Australia is considering establishing a price floor for critical minerals such as rare earths, to help shore up supply of commodities essential to defense and strategic technologies.

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French Industry Gets Boost From Soaring Aviation Output

The rise in production was largely due to a nearly 27% increase in non-automobile transportation equipment.

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Push to Add 'Buy Now, Pay Later' Loans to Credit Scores Hits a Snag

Klarna said it plans to withhold data until it is assured its customers won't be unfairly penalized.

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The Medicare Pullback Is Here

Insurers are planning to scale back benefits, trim plans and exit from markets. Investors are cheering.

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Trump's BLS Firing Tests Wall Street's Reliance on Government Data

Some fear a decline in the world-leading economic statistics underpinning U.S. markets.

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Trump Threatens Higher Tariff Rates on India Over Russian Oil

India has a large trade surplus with the U.S. and was previously facing 25% rates set to go into effect this Thursday.

(END) Dow Jones Newswires

August 05, 2025 13:00 ET (17:00 GMT)

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