U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer hold a joint press conference in Stockholm after concluding the third-round of trade talks with Chinese officials.

The discussion and press availability covered U.S-China trade negotiations, economic cooperation and whether President Trump will meet Xi Jinping. Key moments include questions on tariffs, supply chains, and Beijing diplomacy. WATCH:

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Treasury Secretary Bessent notes as the U.S. economy continues strengthening, and as each trade deal with the U.K, Japan, ASEAN nations and Europe have cemented, the talks between the U.S. and China become more substantive.

With each global trade partner agreeing to terms of access to the USA market more pressure is naturally created on China to complete negotiations and affirm their position as supplier to the world’s largest market.

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Following the breaking news of the U.S-EU trade deal with Commissioner Ursula von der Leyen, President Trump sits down for an extensive interview with Miranda Devine.

President Trump talks about the trade agreement with the EU in addition to overall perspectives on trade, tariffs and the goals of the America-first economy.  Additionally, President Trump talks about immigration challenges, current events and the intelligence documents declassified by Director of National Intelligence Tulsi Gabbard. WATCH:

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Commerce Secretary Howard Lutnick describes some of the details within the new U.S-European trade agreement.

As noted, the $600 billion in regular trade products exported by the EU to the USA market will be subject to a 15% reciprocal tariff.  This approach effectively ends the Marshall Plan, sets the trade terms to balance and should generate approximately $90 billion in revenue to the U.S. treasury.

U.S. tariffs on cars and auto parts are being reduced to the baseline 15 percent — a level that matches the deal notched earlier this month by Japanese automakers. In exchange, the EU has agreed to lower its car tariffs from 10 percent to zero, trade spokesperson Olof Gill said.  The German companies are angry though, because the 25% tariff still applies to Mexico. So, German autos manufactured in Mexico (massive prior investment) will come to the USA with a 25% tariff.

In addition to the EU agreement to open their markets to U.S. products, private companies within the EU have committed to $600 billion in direct investment within the USA.  Additionally, the EU will purchase $750 billion in U.S. energy products and with the NATO commitments previously agreed significant military purchases are anticipated. That is a major purchase agreement of $250 billion each year for the next three years.

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President Donald Trump and Prime Minister Keir Starmer hold a press availability from President Trump’s Turnberry golf course and estate.   Prime Minister Starmer is very focused on support for Palestinians in Gaza as the Israeli-Hamas conflict continues.

Both leaders took media questions on a variety of topics from immigration and Scotland’s independence movement to the conflict between Russia and Ukraine. WATCH:

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The Marshall Plan is OVER!

Okay, this is a very big win.  EU Commission President Ursula von der Leyen outlines some more details of the U.S-EU trade agreement.  The parameters fall similar to the Japanese deal, without the banking aspect.

The EU will face (and accept) a 15% tariff rate for most exports to the USA including autos, that’s huge, even with some zero-for-zero tariff sectors outlined.  The primary motivating factor was to avoid the 35% tariff rate scheduled for August 1st and provide the EU corporations with certainty in their tariff rate as applied by the USA (15%).  WATCH:

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This is almost full acquiescence to President Trump.  WATCH THE VIDEO

Ursula has the sads.

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President Trump and EU Commissioner Ursula von der Leyen have apparently come to terms around the broad outlines of a U.S-EU trade agreement.

The EU will commit to purchasing $750 billion in energy products.  The EU will commit to investing $600+ billion in direct U.S. industries.  The EU will commit to purchasing their NATO military hardware from the USA ($500+ billion likely).  The EU will open up all markets to USA products without tariffs.  The EU and U.S. will both carry a 15% auto tariff for imports.  WATCH:

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I’m all about the broad outline described in the video above, but I also want to see the details.  If what President Trump said about all EU markets being open is accurate, it sounds like the Marshall Plan is over

Canada will not be happy; Europe gets a deal – Canada gets a cold shoulder.

Also, with U.K, Japan, ASEAN and EU trade agreements complete, President Trump is likely to begin focusing on the USMCA (Canada and Mexico) sooner than later.  Two bilateral trade agreements will likely replace the USMCA.

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Office of Management and Budgets (OMB) Director Russ Vought appears on CNN to discuss the problems noted with the Federal Reserve (FED) as the organization viewed their ‘independent’ status as meaning beyond accountability.  The FED has been operating without any oversight until President Trump and Russ Vought began a baseline review of how they spend taxpayer funds.

As noted by Director Vought, the FED can have independence and yet they must be held accountable to the American people. President Trump is that accountability piece and the FED were not familiar with scrutiny. They are now.

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Russ Vought also appeared on Face the Nation to receive questions from the insufferable and ever-pontificating Margaret Brennan.  Video and Transcript Below:

[Transcript]  – MARGARET BRENNAN: We begin today with the director of the White House Office of Management and Budget, Russell Vought, welcome to ‘Face The Nation.’

DIRECTOR OF THE OFFICE OF MANAGEMENT AND BUDGET RUSSELL VOUGHT: Thanks for having me.

MARGARET BRENNAN: There’s so much to get to with you. Let’s start on what’s going on with the Federal Reserve. If you take the president at his word, he does not intend to fire the Federal Reserve Chair, Jerome Powell- though he’s still criticizing him. What is the President seeking in a successor when his term ends in May 2026?

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While President Trump visits his golf courses in Scotland, he will also be conducting business on behalf of the USA by meeting with trade partners from both Great Britain and Europe.

This morning USA time, President Trump is scheduled to meet with EU Commission President Ursula von der Leyen, at approximately 11:30am ET.  Livestream Links Below:

UPDATE: Video Added

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Chopper Pressers are the best pressers. This morning as President Trump departs the White House for a trip to Scotland, the most transparent president in history stops to take questions and deliver remarks to the assembled press pool.

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President Trump states he is anticipating meeting with British Prime Minister Keir Starmer during his visit to Turnberry, Scotland, and takes questions on a variety of subjects including, trade, dollar value, EU trade agreement, Russia/Ukraine, Iran nuclear ambitions, Gaza, Hamas, the Federal Reserve, the economy, President Obama’s immunity status, the ongoing review and investigation by DNI Tulsi Gabbard and more.

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The Federal Reserve is spending $2.5 billion to renovate existing buildings for the agency.  The cost overruns so far exceed $700 million in taxpayer money.  Both President Trump and OMB Director Russ Vought are furious at the costs.

The $2.5bn refurbishment of the FED headquarters is at the center of focus by the White House, looking specifically at Jay Powell the central bank’s chair. Russell Vought has compared the ridiculous renovation cost to the building of the Palace of Versailles and described cost overruns as “outrageous”.

President Trump, a builder who knows the price of all things in the construction sector, takes matters into his own hands and grabs a hard hat to tour the facility that is not expected to be finished for another two years. Here are his initial remarks (prompted):

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