Trump to address Iowa farmers today with trade promises and policy highlights... President Donald Trump is expected to tell Iowa farmers that he has “great news” for them, highlighting what he describes as significant achievements in trade policy and support for agriculture during his July 3 visit to the Iowa State Fairgrounds. Trump has teased that his remarks will include “some of the GREAT things I’ve already done on Trade, especially as it relates to Farmers,” promising that attendees “are going to be very happy with what I say.”
His speech, which marks the kickoff of America’s 250th anniversary celebrations, is also anticipated to feature:
- Announcements of new trade initiatives or agreements aimed at benefiting U.S. farmers, a group crucial to Iowa’s economy and Trump’s political base.
- Promotion of his administration’s tax and policy proposals, including the extension of tax cuts and regulatory reforms that he claims have helped farmers and small businesses.
- A defense of his budget and healthcare proposals, which have sparked controversy over potential Medicaid reforms and changes to social services, issues highlighted by political opponents in Iowa.
- A patriotic message celebrating American heritage, unity, and the role of rural America in the nation’s history, as part of the broader America250 festivities.
Trump is expected to use the platform to reassure farmers of his continued support and to outline his vision for the future of American agriculture.
USDA Secretary Brook Rollins will accompany Trump and it’s possible she could make an announcement on the Supplemental Disaster Relief Program effort under USDA’s plan that cleared the Office of Management and Budget (OMB) review this week. County FSA offices got training on the disaster aid earlier this week. Rollins could also announce another action cleared by OMB July 2 in a final rule on Removal of Unconstitutional Preferences Based on Race and Sex in Response to Court Ruling.
Trump plans landmark China visit with U.S. CEOs as Washington shifts to ‘managed de-risking’... President Donald Trump is preparing to visit China later this year, accompanied by dozens of top American CEOs, in a high-profile effort to recalibrate the U.S./China economic relationship, according to Nikkei Asia. The trip, modeled after Trump’s recent visit to Saudi Arabia — which yielded over $2 trillion in business deals — signals a marked shift from the previous strategy of rapid escalation to a more measured approach of “managed de-risking.”
The planned China visit follows Trump’s announcement of a new trade deal with Beijing and comes amid rising bipartisan concerns over economic decoupling. Instead of pushing for immediate concessions through escalating tariffs, the administration is now pursuing a gradual reduction of economic risks over five to 10 years.
Recent talks led by Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng resulted in a 90-day pause on most tariffs, along with a “supplementary understanding” on rare-earth exports and export restrictions. China agreed to review rare-earth export applications, while the U.S. will lift some Biden-era export controls on critical technologies.
The policy shift reflects the growing influence of Bessent, who has advocated for a “big, beautiful rebalancing” with China. His approach contrasts sharply with Secretary of State Marco Rubio’s hawkish stance, particularly Rubio’s move to tighten visa restrictions for Chinese students. The internal debate underscores competing visions within the Trump administration over how best to manage the strategic rivalry with Beijing.
In advance of the trip, the State Department has sought input from business leaders with China expertise, emphasizing both economic and cultural preparations. Trump’s previous international business delegations have included executives from Tesla, Blackstone, BlackRock, OpenAI, Nvidia, Palantir, and Amazon, with similar participation expected for the China visit.
Outlook: The coming summit is intended to set a new course for U.S./China engagement, focusing on pragmatic economic ties rather than all-out confrontation. In recent remarks, President Xi Jinping told Trump that “recalibrating the direction of the giant ship of China/U.S. relations requires us to take the helm and set the right course,” emphasizing the need to avoid “disturbances and disruptions” amid ongoing tensions.
U.S., EU push for last-minute tariff deal as digital laws remain off limits... The U.S. and European Union are racing to reach a limited agreement on tariffs before a July 9 deadline, aiming to prevent the immediate imposition of a 50% U.S. tariff on EU imports. However, a core dispute remains off the table: the EU’s stringent content moderation and digital regulations, including the Digital Services Act (DSA), Digital Markets Act (DMA) and the AI Act.
Negotiators are working toward a “headline political understanding” rather than a comprehensive trade pact, focusing on averting tariff escalation. The framework under discussion would introduce a baseline 10% U.S. tariff on EU goods, with potential relief for key sectors such as automotive, semiconductors and pharmaceuticals. EU officials caution that any agreement reached will likely be preliminary, with many specifics left for future talks.
Internal EU divisions persist over the baseline tariff, with some member states more willing to accept the terms than others. There is concern in Brussels that the EU may end up making more concessions than the United States.
Despite persistent U.S. pressure to address what it sees as discriminatory digital laws, Brussels has repeatedly refused to discuss changes to its digital framework as part of trade negotiations. EU leaders argue their regulations are designed for digital sovereignty and consumer protection, not protectionism, and insist that all companies operating in the EU must comply.
Outlook: The likely result is a bare-bones, nonbinding agreement that postpones new tariffs but leaves unresolved issues for later. The EU’s firm stance on digital laws highlights a growing transatlantic divide over tech governance and signals Europe’s intention to set global standards in digital markets. If talks collapse before the deadline, both sides are prepared to reimpose punitive tariffs, with the EU already preparing retaliation targeting 95 billion euros ($102.6 billion) in U.S. goods.
Japan stresses commitment to talks as Trump doubts deal possible... Japan has reaffirmed its commitment to ongoing negotiations with the U.S., even as President Trump cast doubt on the likelihood of a breakthrough. Japanese officials say they will keep diplomatic channels open and continue pursuing mutually beneficial agreements on trade, security, and technology.
Trump cited significant differences on tariffs and market access as key obstacles to any deal. This divergence underscores the complexity of U.S./Japan relations at a time of shifting global economic and political dynamics.
Bottom line: While Japan remains optimistic about dialogue, Trump’s public stance suggests any agreement would require major compromise. The outcome of these negotiations will be closely watched, as both nations balance domestic pressures with the broader goal of maintaining a strong bilateral partnership.
U.S., India race to finalize mini trade deal ahead of tariff deadline... Trade talks between the U.S. and India have entered their final stage, as both governments push to finalize a limited, interim agreement before a critical July 9 deadline. The two sides are negotiating in Washington with the goal of averting the automatic reinstatement of a 26% U.S. tariff on Indian goods — a move that could sharply escalate trade tensions.
Key points:
Sensitive sectors excluded: Agriculture, dairy, and genetically modified crops are expected to remain outside the scope of this “mini” deal, with India refusing U.S. demands for access to these areas to protect food safety and small-scale farmers.
Tariff reductions at core: The agreement is expected to focus on mutual tariff reductions, with India seeking relief for labor-intensive exports such as footwear, garments, and leather, while the U.S. pursues greater access and commercial commitments from India.
Lingering sticking points: Contentious issues — including U.S. access to India’s market for genetically modified crops and Indian concerns over U.S. tariffs on steel and aluminum — are likely to be deferred for future negotiations.
Statements from leaders: President Trump has called the deal “very big,” promising reduced tariffs and improved access for U.S. goods. Indian officials insist any agreement must protect sensitive sectors and support Indian exporters.
Outlook: Most observers expect a narrow, interim deal focused on tariffs and selected strategic commitments, with bigger issues — such as agriculture, services, and digital trade — reserved for future rounds. The outcome will be closely watched as a signal of the trajectory for the broader U.S./India economic and strategic partnership.