1. US eyes $3.1 billion EU, UK imports for new tariffs
The Trump administration is weighing new tariffs on $3.1 billion of exports from France, Germany, Spain and the UK, potentially escalating trade tensions again.
The US Trade Representative wants to impose new tariffs on exports like olives, beer, gin and trucks, while increasing duties on products including cheese and yogurt.
The new duties might be as high as 100%, which would double the price of such products for US importers, and affect brands such as LVMH and other luxury houses. Shares of beverage stocks, luxury-goods companies and truck makers fell with the news.
The import taxes would add to the 25% tariff the US imposed last year on imports of Scotch and Irish Whisky and liqueurs from UK & Europe.
Talks between the EU and the US have stalled, and US has stepped back from talks these past few weeks, which means the EU may retaliate with some tariffs of its own.
2. Amazon launches a $2 billion climate pledge fund
Amazon has announced its $2 billion Climate Pledge Fund to invest in sustainable technologies that will help the company reach its commitment to be net-zero carbon in its operations by 2040.
This pledge is on top of Jeff Bezos’s commitment to donate $10 billion to fight climate change, which was announced in February.
“Toxicity is embedded in our operations as pollution causes stunted lung development, asthma and higher death rates from COVID-19 concentrated in Black and brown communities,” said Maren Costa, the rep for Amazon Employees for Climate Justice.
Amazon said the Climate Pledge Fund will invest in companies in multiple industries, including transportation and logistics, manufacturing & much more.
What else? Amazon announced the results of its sustainability report, which showed that the company was on a path to reach 100% renewable energy powering its operations by 2025.
3. There were 1 million cases of Covid-19 in just eight days
The last million cases of Coronavirus was reached in just eight days. According to WHO, the total number of COVID-19 infections now exceeds 9 million worldwide, a faster rate than at the beginning of the year as infections spread across the US, India and Brazil.
As of Tuesday, the seven-day average of daily new Covid-19 cases in the US increased by more than 32% compared to one week ago.
Texas health officials reported an all-time high of 5,489 new cases on Tuesday. California reported6,712 new cases yesterday.
In 24 hours, India reported 15,968 new cases and 465 deaths just yesterday.
4. All businesses in Thailand should resume operations by July 1st
Life will completely normal come July, So, by next week.
By July 1st, nightclubs and bars (that hasn’t opened already) will be able to resume business but not as usual. The long list of conditions club owners are required to meet, from not being able to stand and dance, to individual temperature checks will make for a very distorted experience. All nightlife venues must shut by midnight
We’ll sure those who’ve been pent up will still manage to have fun and go ahead, though.
What else? Department stores will be able to resume their normal operating hours. Schools will completely re-open and “massage parlours” will also re-open as normal, presumably with limited social distancing.