Business news from Ukraine

Business news from Ukraine

Trump’s visit to China may take place in late October or early November — Chinese media

According to Chinese media reports, US President Donald Trump’s visit to China may take place in late October or early November. According to the South China Morning Post, the Chinese government sent Trump an invitation in early September, which usually means that preparations are already in the final stages. SCMP sources also claim that both sides are already working out the details of the trip: there are still “some minor issues” to be resolved, but the main obstacles have been removed.

It is believed that the visit may be timed to coincide with the Asia-Pacific Economic Cooperation (APEC) summit, which will be held in South Korea from October 31 to November 1.

ASEAN (Association of Southeast Asian Nations) is an intergovernmental organization that has existed since 1967, designed to promote economic growth, social progress, and cultural development in the countries of the region, as well as to strengthen regional stability and cooperation.

The members of ASEAN are: Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar (Burma), the Philippines, Singapore, Thailand, and Vietnam.

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Trump on Putin and Zelensky: I want to put end to killings

US President Donald Trump says he is closely monitoring the actions of Vladimir Putin and Ukrainian President Volodymyr Zelensky and intends to put an end to the killings in the Russian-Ukrainian war.

During a press conference in Washington on Tuesday, when asked by a reporter if there would be any consequences for Putin and Zelensky if they did not meet, the US president replied: “We’ll see what happens, we’ll see what they do. I am watching this very closely.“ ”Last week, they lost 7,317 soldiers for no reason. Both Russians and Ukrainians. I want to put an end to this,” Trump added.

As reported, on August 30, Trump confirmed the holding of trilateral negotiations on the war with Zelensky and Putin and acknowledged that the parties are not yet ready for bilateral negotiations.

On September 2, Trump said he was extremely disappointed with Vladimir Putin in the context of the Russian-Ukrainian war, despite his excellent relationship with him, and announced an aid package without specifying its size and content, emphasizing that this was not “a matter for Ukraine.”

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What will happen next after Trump’s tariffs were ruled illegal?

The Federal Appeals Court ruled that most of Donald Trump’s tariffs exceed his powers as president.

The so-called reciprocal tariffs imposed on almost all countries that trade with the US are illegal, the US Appeals Court ruled on Friday.

The ruling upholds a May decision by the International Trade Court, which also rejected Trump’s argument that his global tariffs were permitted under the International Emergency Economic Powers Act.

The court did not strike down the tariffs, but said they would remain in effect until mid-October, setting the stage for further legal action in the US Supreme Court.

Much remains unknown, but here is what we understand at this point about the court’s decision and what it could mean for the US president’s flagship policy.

What did the appeals court say?

In its 7-4 decision, the appeals court upheld the lower court’s conclusion that President Trump did not have the authority to impose global tariffs.

This was mainly because of the law Trump used to justify his policy, the International Emergency Economic Powers Act (IEEPA), which, according to the judges, does not give “the power to impose tariffs, duties, etc., or the power to levy taxes.”

The US Court of Appeals rejected Trump’s argument that the tariffs were permitted under his emergency economic powers, calling the levies “invalid because they violate the law.”

Trump immediately rejected the ruling, writing on Truth Social hours after it was handed down that the appeals court was “very biased” and that the ruling was a ‘disaster’ for the country.

“If this ruling stands, it will literally destroy the United States of America,” he wrote.

What is the IEEPA?

This law, passed decades ago and repeatedly invoked by Trump during both of his terms in office, gives the US president significant powers to respond to emergencies within the country or serious threats from abroad.

The 1977 law states that the president may use a range of economic levers “to counter any unusual and extraordinary threat that originates wholly or in substantial part outside the United States and is directed against the national security, foreign policy, or economy.”

It was used by both President Barack Obama and Joe Biden, who invoked the law to impose sanctions against Russia after its illegal annexation of Crimea in 2014, and then again after its full-scale invasion of Ukraine eight years later.

However, the appeals court said in its ruling that the emergency law “does not grant the president broad authority to impose tariffs.”

The IEEPA “does not mention tariffs (or any synonyms thereof) and does not contain procedural safeguards that would clearly limit the president’s authority to impose tariffs,” they said.

Trump, in announcing the imposition of global tariffs, argued that trade imbalances were damaging US national security and therefore constituted a national emergency.

However, the court ruled that imposing tariffs is not within the president’s authority and that “the power to dispose of public funds (including the power to levy taxes) belongs to Congress.”

Why is this important?

In addition to being a significant blow to the central point of President Trump’s agenda — tariffs — the federal appeals court’s decision could have a direct impact on the US economy and cause a chain reaction in global markets.

“Businesses will be subject to uncertainty,” said Dr. Linda Yue, an economist at Oxford University and London Business School, on BBC Today.

While countries wait to see if the Supreme Court will take up the case, which seems likely, they may decide to suspend business with the US.

If that happens, Dr. Yue said, it could “weaken economic activity.”

There are also significant implications that could play out in the political arena.

For example, if the Supreme Court overturns the federal appeals court’s decision and sides with the Trump administration, it could set a precedent that encourages the president to use the IEEPA more aggressively than he has done so far.

What happens next?

The case will likely be referred to the highest court in the US, as Trump announced on Truth Social.

“Our indifferent and short-sighted politicians have allowed tariffs to be used against us,” Trump wrote. “Now, with the help of the US Supreme Court, we will use them for the benefit of our nation and make America rich, strong, and powerful again!”

The conservative majority in the US Supreme Court could potentially increase the likelihood that it will support the president’s position.

Six of the nine justices were appointed by Republican presidents, including three by Trump during his first term in the White House.

However, the court is also more critical of presidents when it believes they exceed their authority on issues not approved by Congress.

For example, during Joe Biden’s presidency, the court expanded what it called the “major question doctrine” to invalidate Democrats’ attempts to use existing laws to limit greenhouse gas emissions from power plants and forgive the student loan debt of millions of Americans.

What happens if the tariffs are ruled illegal?

The federal appeals court split 7-4 in its ruling that nearly all of Trump’s tariffs are illegal. It has now given the US administration until mid-October to appeal to the US Supreme Court in a case that has implications for both the US economy and its trade relations with the rest of the world.

If the Supreme Court upholds the ruling, it could cause uncertainty in financial markets.

Questions will arise about whether the US will have to return the billions of dollars it has collected in import duties on products from countries that have paid them over the past few months.

It could also call into question whether major economies, including the UK, Japan, and South Korea, will be bound by the individual trade deals they have negotiated with the US before the August deadline. Other trade deals currently under negotiation could also be thrown into chaos.

If the appeals court ruling is upheld, it will also deal a huge blow to Trump’s political authority and his reputation as a negotiator. But if it is overturned by the Supreme Court, it will have the opposite effect.

Are the tariffs still in place?

This decision concerns Trump’s “reciprocal tariffs,” which include a set of different rates for most countries in the world, including other taxes imposed on China, Mexico, and Canada.

These import duties on almost all goods from almost all countries with which the US trades will remain in effect until mid-October.

After October 14, they will no longer be in effect, the appeals court said.

Separately, tariffs on steel, aluminum, and copper, which were imposed under other presidential powers, will remain in effect and will not be affected by the court’s decision.

Source: https://www.bbc.com/news/articles/cy983g8jr5do

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Appeals court rules tariffs imposed by Trump administration illegal

A US appeals court on Friday ruled that most of the tariffs imposed by Donald Trump were illegal, undermining the use of these levies as a key tool of international economic policy, Reuters reports.

The court allowed the tariffs to remain in effect until October 14 so that the Trump administration could appeal to the US Supreme Court.

“The decision comes amid a legal battle over the independence of the Federal Reserve, which is also likely to reach the Supreme Court, creating an unprecedented legal confrontation this year over Trump’s economic policy,” the report said.

US President Donald Trump criticized the verdict, saying it was accepted: “ALL TARIFFS ARE STILL IN EFFECT! Today, the highly partisan Court of Appeals wrongly ruled that our tariffs should be canceled, but they know that the United States of America will ultimately prevail. If these tariffs ever disappear, it will be a complete disaster for the country. It will make us financially weak, and we must be strong… Now, with the help of the US Supreme Court, we will use them to benefit our nation and make America rich, strong, and powerful again!” Trump wrote on Truth Social.

According to the publication, in a 7-4 decision, the court considered the legality of the “reciprocal” tariffs imposed by Trump in April as part of the trade war, as well as separate tariffs against China, Canada, and Mexico imposed in February.

The court noted that the International Emergency Economic Powers Act (IEEPA), to which Trump referred, does not provide the president with the direct right to impose tariffs. “It is unlikely that Congress, in enacting the IEEPA, intended to depart from its previous practice and grant the president unlimited authority to impose tariffs,” the document states.

 

https://interfax.com.ua/

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Macron calls next 15 days “critical” and welcomes Trump’s intention to provide security guarantees for Ukraine

French President Emmanuel Macron called the next 15 days “critical” and welcomed US President Donald Trump’s intention to provide security guarantees for Ukraine.
In an interview with the public broadcaster LCI published on August 19, he said that in the next few weeks, everything possible should be done to ensure that a meeting between Ukrainian President Volodymyr Zelenskyy and Vladimir Putin takes place. “Then, according to the plan, a trilateral summit could take place in early September,” Macron added.
“But there is work to be done on security guarantees. Therefore, the next 15 days are absolutely critical. To finalize the work with the Americans to give content to the security guarantees. But first of all, we are going to eliminate ambiguities,” the French president said.
The specific content of the security guarantees is currently unknown, although Macron said that “the British, French, Germans, Turks and others are ready to carry out operations – not on the front line, not provocatively, but support operations in the air, at sea and on land.” At the same time, he warned that Russia is a destabilizing force, and President Vladimir Putin “has rarely kept his commitments.”
“One thing I know is that since the end of 2007-2008, President Putin has rarely honored his commitments. He has always been a destabilizing force and has sought to redraw borders to expand his power,” the French president said.
“It is a predator, it is a cannibal at our gates. I’m not saying that tomorrow there will be an attack (by Russia – IF-U) on France, but in the end, it is a threat to Europeans,” Macron said.

 

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Trump: In week or two, we will know whether war will end

In a week or two, it will be clear whether the war will end or the fighting will continue, according to US President Donald Trump.

“I think President Putin wants to find an answer, and we’ll see. And if after a certain amount of time, not too far from today, a week or two, we’ll know whether we’ve solved this problem or whether these terrible battles will continue. We will do everything we can to put an end to this,“ Trump said before meeting with Ukrainian President Volodymyr Zelensky and European leaders.

He noted that there are two sides ”that want to make a deal.”

“And it’s possible that it won’t work out. On the other hand, it’s possible that it will work out. And we will save thousands and thousands of lives every week. So this is what we really have to do. Or at least we have to make every effort. But I think we can get a very good result,” Trump stressed.

 

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