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Italy's prime minister meets with President Trump to discuss tariffs on EU

Italy's prime minister meets with President Trump to discuss tariffs on EU
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Italy's prime minister meets with President Trump to discuss tariffs on EU
Italy's Prime Minister Giorgia Meloni met with President Donald Trump at the White House on Thursday to discuss a potential trade deal amid tensions between the U.S. and the European Union over tariffs. "I'm sure we can make a deal, and I'm here to help with that," Meloni said.The two leaders talked up their good relationship and the ability to make a deal. Meloni is the first European leader to meet with Trump face-to-face since he announced and then paused his higher tariffs on dozens of countries. The EU is seeking a zero-for-zero tariff agreement with the U.S. Trump indicated that any deal could take time."We're in no rush. You have to understand we're getting right now 25% on cars, 25% on steel, 25% on aluminum. We're getting a 10% baseline," Trump said.Financial analysts warn that if these tariffs remain or increase, U.S. consumers could see higher prices on a range of goods."Things from Italian wines to automobiles, as well as materials, small parts that go into manufacturing," said Stephen Kates, a financial analyst at Bankrate.Meanwhile, Trump criticized Federal Reserve Chair Jerome Powell for not lowering interest rates, stating on social media that Powell's "termination cannot come fast enough!""He is too late, always too late, a little slow, and I'm not happy with him. I let him know it and if I want him out he'll be out of there real fast, believe me," Trump said.Powell had previously stated that the Federal Reserve was waiting to see the impact of the Trump administration's trade policies."The effects of that are likely to move us away from our goals. So unemployment is likely to go up as the economy slows in all likelihood and inflation is likely to go up as tariffs find their way," Powell said.Treasury Secretary Scott Bessent mentioned during the meeting with Italy's leader that the administration is working with the "big 15 economies" first. They had talks with Japan on Wednesday and plan to meet with South Korean officials next week.

Italy's Prime Minister Giorgia Meloni met with President Donald Trump at the White House on Thursday to discuss a potential trade deal amid tensions between the U.S. and the European Union over tariffs.

"I'm sure we can make a deal, and I'm here to help with that," Meloni said.

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The two leaders talked up their good relationship and the ability to make a deal. Meloni is the first European leader to meet with Trump face-to-face since he announced and then paused his higher tariffs on dozens of countries. The EU is seeking a zero-for-zero tariff agreement with the U.S. Trump indicated that any deal could take time.

"We're in no rush. You have to understand we're getting right now 25% on cars, 25% on steel, 25% on aluminum. We're getting a 10% baseline," Trump said.

Financial analysts warn that if these tariffs remain or increase, U.S. consumers could see higher prices on a range of goods.

"Things from Italian wines to automobiles, as well as materials, small parts that go into manufacturing," said Stephen Kates, a financial analyst at Bankrate.

Meanwhile, Trump criticized Federal Reserve Chair Jerome Powell for not lowering interest rates, stating on social media that Powell's "termination cannot come fast enough!"

"He is too late, always too late, a little slow, and I'm not happy with him. I let him know it and if I want him out he'll be out of there real fast, believe me," Trump said.

Powell had previously stated that the Federal Reserve was waiting to see the impact of the Trump administration's trade policies.

"The effects of that are likely to move us away from our goals. So unemployment is likely to go up as the economy slows in all likelihood and inflation is likely to go up as tariffs find their way," Powell said.

Treasury Secretary Scott Bessent mentioned during the meeting with Italy's leader that the administration is working with the "big 15 economies" first. They had talks with Japan on Wednesday and plan to meet with South Korean officials next week.