International News 17 July 2025
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EU Prepares €72 Billion Retaliatory Tariff Plan as Trump Threatens 30% Import Duties
Tensions between the U.S. and the European Union have escalated after President Donald Trump threatened to impose a 30% tariff on EU imports starting August 1, 2025. In response, the European Commission has drafted a retaliatory tariff list worth €72 billion (approximately US$84.1 billion), targeting high-value American exports including Boeing aircraft, cars, bourbon whiskey, agricultural goods, medical devices, and precision equipment. While the EU emphasizes it remains open to negotiations, officials have warned that Trump’s threats resemble “economic blackmail” and risk dismantling transatlantic trade ties. France’s foreign minister labeled the move as unacceptable, while EU Trade Commissioner Maros Sefcovic confirmed the bloc is preparing for the worst-case scenario. The tariff package still requires approval from a majority of EU member states. Europe’s beverage industry has pushed back, urging officials to exclude alcohol from the list due to its dependency on U.S. markets. Despite the mounting pressure, financial markets remained cautiously optimistic after Trump signaled a willingness to resume talks. As the August deadline looms, the world awaits whether diplomacy can avert a full-scale trade war.
Lavrov Shrugs Off Trump’s 50-Day Ceasefire Ultimatum, Russia Vows to Withstand New Sanctions
Russian Foreign Minister Sergey Lavrov responded calmly to U.S. President Donald Trump’s 50-day ultimatum demanding a ceasefire in Ukraine, downplaying threats of new sanctions and secondary tariffs. Lavrov stated that Moscow seeks to understand the motivations behind Trump’s actions and expressed confidence that Russia can endure any additional punitive measures. The remarks came after Trump warned that Russia could face secondary tariffs of up to 100% if President Vladimir Putin fails to reach a ceasefire deal within the given timeframe. Trump voiced growing frustration over continued Russian missile strikes, criticizing Putin for backtracking on previous negotiations. In a joint press conference with NATO Secretary General Mark Rutte, Trump also announced the deployment of U.S. Patriot missile systems to NATO allies in support of Ukraine. Rutte backed Trump’s hardline stance, suggesting that Putin should take the ceasefire talks seriously before the deadline passes.
https://internasional.kontan.co.id/news/trum-ancam-kenakan-tarif-100-ini-tanggapan-santai-rusia
Oil Prices Dip as Trump Gives Russia 50-Day Ultimatum, Easing Supply Fears
Crude oil prices fell less than 1% on Tuesday (July 15) after U.S. President Donald Trump gave Russia a 50-day deadline to end the war in Ukraine, reducing fears of immediate supply disruptions. Brent crude for September delivery closed 0.7% lower at $68.71 per barrel, while WTI for August fell 0.7% to $66.52. The market had briefly surged on fears of sanctions, but the extended deadline fueled optimism that punitive measures could still be avoided. Analysts noted that if sanctions were eventually imposed, it could significantly alter the oil market outlook—especially for major Russian crude buyers like China, India, and Turkey. Meanwhile, broader concerns about global growth, driven by Trump’s planned tariffs on the EU, Mexico, and others, could weigh on fuel demand. Despite China’s slowing economy, recent data beat expectations due to strong fiscal support and pre-tariff export acceleration. Oil demand remains robust for now, with OPEC expecting strength into Q3. U.S. crude inventories rose by 839,000 barrels last week, with official figures due Wednesday.