Story of the Week
Trump rejigs tariff rates ahead of deadline, levies 40% duties on all transshipped goods
U.S. President Donald Trump signed an executive order on July 31 that modified “reciprocal” tariffs on dozens of countries, with updated duties ranging from 10% to 41%. Trump, in a phone interview with NBC News following the order, said that he would be open to more compelling offers, but it was “too late” for other nations to avoid tariffs set to kick in next week. “It doesn’t mean that somebody doesn’t come along in four weeks and say we can make some kind of a deal,” he said. The latest tariff rates will start from August 7. Among countries facing the steepest “reciprocal” tariffs, Syria has the highest rate at 41%. Exports from Laos and Myanmar to the U.S. will be subject to a 40% duty. Switzerland and South Africa will be hit with tariffs of 39% and 30%, respectively.
Apparel & Footwear
Skechers denies patent infringement in lawsuit over slip-ins
Skechers plans to “vigorously defend” itself in a patent infringement lawsuit Kizik Design filed last week, which claimed Skechers’ hands-free slip-ins line violates Kizik’s patents. In a statement, Skechers said Kizik’s allegations were baseless and added that Skechers holds more than 140 patents worldwide for its designs. Skechers has gone to court over its slip-in designs multiple times. It has sued companies including L.L. Bean, Authentic Brands Group, and nonslip shoemaker Laforst. However, now Skechers is the one defending its slip-ins patent rights.
Tilly’s, a specialty retailer of casual apparel, footwear, and accessories, announced the appointment of Nate Smith to the position of president and chief executive officer and as a director of the U.S. youth apparel company, effective August 18. Smith succeeds Hezy Shaked, co-founder, executive chairman, and current president and chief executive officer, who will transition into the executive chairman role effective on that date. Smith joins the Irvine, California-based company from Marolina Outdoor, where he served as CEO since September 2024. Previously, he worked at Boardriders from June 2017 to April 2024 as president, Americas, after a stint as vice president/general manager, North American wholesale at Oakley from 2015 to 2017 and as Vice President, Oakley defense from 2012 to 2017. Before that, he had also served in executive roles at Ipath Footwear, MV Transportation, and Patagonia, Inc., following eight years of service in the United States Navy.
Hoka Reveals Milan and Berlin Store Openings as International Growth Jumps in Q1
Hoka and its parent company Deckers Brands are looking beyond the U.S. for new growth opportunities. On the company’s first quarter 2026 earnings call, Stefano Caroti, president and chief executive officer of Deckers Brands, told analysts that while Hoka still has a “very small [retail] footprint,” the brand now has 48 owned and operated stores globally. And following Hoka flagship openings in London and Paris, Caroti teased new stores coming to Berlin and Milan. Yet, no concrete timeline was announced on the call. The CEO did mention, however, that the company recently hired a new global head of retail who will “help lead the charge” in store growth.
Athletic & Sporting Goods
Xponential Fitness Offloads Rumble, CycleBar to Extraordinary Brands
Xponential Fitness has completed the divestiture of Rumble Boxing and CycleBar, with Extraordinary Brands acquiring the two boutique fitness concepts, the sides announced. The transaction sees Xponential, which owns fitness brands including Club Pilates and StretchLab, shrink its portfolio from eight brands to six. Xponential CEO Mark King says the deal was made so Xponential can place more focus on its brands that “drive profitability.” Extraordinary Brands, which just last year acquired indoor rowing concept Row House from Xponential, now counts six brands in its fast-growing boutique fitness franchise portfolio, according to its website. The Charlottesville, Virginia-based company also owns Neighborhood Barre, purvelo cycling and personalized group training brand Eat the Frog Fitness. After divesting from Rumble and CycleBar, Xponential currently has six brands in its portfolio: Body Fit Training (BFT), Club Pilates, Lindora, Pure Barre, StretchLab and YogaSix.
Catterton acquires majority stake in L.A.B. Golf
The Wall Street Journal has reported that L. Catterton, a consumer-focused private equity firm backed by luxury giant LVMH, has acquired a majority stake in L.A.B. Golf, the Oregon-based company known for its unconventional putters and devoted following among gearheads and pros alike. The deal, which reportedly values L.A.B. Golf at about $200 million, positions the once-niche brand for a significant leap forward in both visibility and market presence. L.A.B. Golf (which stands for “Lie Angle Balance”) was founded in 2018 after Sam Hahn purchased the company, then known as Directed Force, from Tom Presse. The brand made a name for itself by designing putters that virtually eliminate torque during the stroke.
Cosmetics & Pharmacy
P&G Names Shailesh Jejurikar as Next CEO, Effective January 2026
Procter & Gamble has announced that Chief Operating Officer Shailesh G. Jejurikar will become President and Chief Executive Officer, succeeding Jon Moeller, effective January 1, 2026. Jejurikar currently oversees P&G’s Enterprise Markets, global operations, IT, and business services. His 30+ year career at the company spans leadership across Fabric & Home Care, sustainability, and international market growth. As former CEO of P&G’s largest division, he led iconic brands like Tide, Downy, and Febreze to strong performance through innovation and global expansion. Jejurikar’s appointment signals a strategic continuation of P&G’s focus on global scale, category leadership, and sustainable value creation. Known for his operational depth and track record of growth across diverse markets, his leadership is expected to further accelerate the company’s transformation and relevance in both developed and emerging economies.
L’Oréal Posts Robust First-Half 2025 Results as All Divisions Advance
L’Oréal reported €22.47 billion in sales for the first half of 2025, up 3.0% like-for-like, with growth accelerating in Q2 and operating margin rising 30 basis points to 21.1%. Sales were up 1.6% reported and 3.0% like-for-like, with Q2 growth accelerating to 3.7% after adjusting for IT phasing. Emerging markets drove double-digit growth, while mainland China returned to modest expansion. All Divisions contributed positively, led by Professional Products (+6.5% LFL) and Consumer Products (+2.8% LFL). Fragrance and haircare remained the fastest-growing categories. Net profit excluding non-recurring items rose 1% to €3.78 billion. The Group enhanced its brand portfolio with the acquisitions of Medik8 (Luxe) and Color Wow (Professional Products). L’Oréal also expanded operating margins across all Divisions, each exceeding 22%. L’Oréal’s performance underscores the resilience of global beauty demand, particularly in emerging markets and premium segments.
CVS Health Ventures makes investment in AbsoluteCare
AbsoluteCare, which specializes in value-based integrated health care, has secured $135 million in equity financing from four investors: CVS Health Ventures, Kinderhook Industries, Pacific Life and Lexington Partners. This funding bolsters AbsoluteCare’s ability to optimize operations and expand into new markets and serve new member populations, the company said. AbsoluteCare’s Beyond Medicine model is designed to improve health outcomes for complex Medicaid and Medicare members through a whole-person approach that includes social determinants of health support, behavioral health care, primary and urgent care and integrated pharmacy. “AbsoluteCare is setting a new standard for value-based care, delivering comprehensive health care to high-acuity Medicaid and Medicare members,” said Chris Michalik, managing director at Kinderhook.
Discounters & Department Stores
Nearly 120 J.C. Penney stores sold to private equity for under $950M
119 JCPenney stores across the country have been sold to a private equity firm for a cash total of $947 million, with the deal scheduled to close this fall. The deal, which comes five years after the once-popular department store declared bankruptcy, is the result of an “exhaustive marketing and sale process,” run by real estate firm Newmark, a release said. The deal also means private equity group Onyx Partnerships will take ownership of all JCPenney-leased stores, including those at malls, and provides limited “termination rights on a property-by-property basis.” As part of the 2020 bankruptcy, Copper Property CTL Pass Through Trust took control of 160 JCPenney retail properties and six warehouse distribution centers, with the intent to sell. The deal with Onyx includes 119 of those stores, all of which are still open. The deal is expected to finalize on Sept. 8, Copper Property said.
Nordstrom Rack to Add New Stores in Florida and Massachusetts
Nordstrom Inc. announced plans to open Nordstrom Rack stores in Plymouth, MA, in spring 2026 and Tampa, FL, in fall 2026. The 27,000-square-foot store in Plymouth will be located in Colony Place, a shopping center that includes Aldi, Dick’s Sporting Goods, Ulta, J. Crew, Talbots, and DSW. The off-pricer currently operates two Nordstrom stores and seven Nordstrom Rack stores in Massachusetts. The 24,700-square-foot store in Tampa will be located at The Plaza at Citrus Park, a shopping center that features Best Buy, J. Crew Factory, Burlington, PetSmart, Ulta, and Old Navy. The company currently operates six Nordstrom stores and 19 Nordstrom Rack stores in Florida. Earlier in July 2025, Nordstrom announced plans to open five Nordstrom Rack stores in 2026 in Massachusetts, Ohio, Virginia, Louisiana, and New Jersey. Nordstrom Rack finished 2024 with 277 locations in the U.S., opening 23 during the year, with a similar number expected to open in 2025.
Walmart bets big on AI with ‘super agent’ strategy
Unifying its approach to the technology, Walmart launched a new companywide artificial intelligence framework centered around four “super agents” to support various business touchpoints, according to a blog post from Chief Technology Officer and Chief Development Officer Suresh Kumar. The mass retailer has quickly built AI agents across the business and is now implementing a streamlined approach, where several agents will support a larger super agent to minimize user confusion. The four super agents include: the customer-facing Sparky agent that launched in June; the partner agent Marty for suppliers, advertisers, and sellers; a store-centric associate agent; and an agent for company tech developers. Walmart will continue adding specialized subagents to the super agents over the next year, making them “a more visible part of the Walmart ecosystem,” per Kumar. The news coincides with the announcement that Walmart tapped Instacart executive Daniel Danker as its executive vice president of AI acceleration, product, and design.
Emerging Consumer Companies
Ty Haney returns to Outdoor Voices
After Outdoor Voices abruptly shuttered its store footprint last year, Tyler Haney is back as the brand preps to drop a new collection. The DTC activewear brand, which was acquired by Consortium Brand Partners a year ago, wiped its Instagram feed and now features just one video reintroducing founder, owner and partner Haney, who has spent the past nine months reimagining a collection for the brand. That new line is expected to debut Aug. 4, according to Instagram. The brand’s website currently features a sign-up page to unlock first access to the launch, as well as the phrase, “Doing new things.”
Quince raises $200 million at a $4.5 billion valuation
Quince, the California-based brand gaining global buzz for its affordable luxury wardrobe essentials, has raised about $200 million in a new funding round, valuing the company at more than $4.5 billion. The label, which gained prominence on platforms like Instagram and TikTok, offers direct-to-consumer clothing and home goods at remarkably low prices, earning it a reputation as a disruptor in the accessible luxury space. Iconiq Capital is reportedly leading the round, according to people familiar with the matter. The new valuation more than doubles Quince’s previous worth.
Food & Beverage
Wayne-Sanderson Farms Announces Acquisition of Harrison Poultry
Leading poultry producer Wayne-Sanderson Farms has announced the acquisition of Georgia-based Harrison Poultry, a major producer of high-quality chicken known for its proprietary “Golden Goodness” range of traditional, international, and halal poultry products. The sale is effective immediately and includes transfer of all Harrison Poultry assets to Wayne-Sanderson Farms, including live production, hatchery, feed mill, manufacturing, production and transportation facilities and equipment in association with Harrison’s Bethlehem and Crawfordville area operations. Integrated operations will begin immediately, and the company expects minimal changes as daily operations continue as normal. Wayne-Sanderson Farms leadership began exploring the idea of the Harrison Poultry acquisition earlier this year as part of its strategic growth initiative. The two companies have complementary offerings and began negotiations to finalize the sale after thorough analysis to ensure the respective operations and workplace cultures would be a good fit.
Welch’s appoints Cees Talma as new CEO
US food and drinks group Welch’s has appointed former Nature’s Way CEO Cees Talma as its new chief executive. Talma takes over from Trevor Bynum, who led the company for nearly seven years. In a statement, Welch’s said Bynum was “instrumental in shaping the company’s transformative growth.” Talma has more than three decades of experience in fast-moving consumer goods (FMCGs). Most recently, he was the CEO of Nature’s Way from December 2021 to January 2025 and served as a global vice president at SC Johnson from 2014 to 2019. Tim Grow, chairman of the Welch’s board of directors, said the company was “confident Cees will help accelerate our momentum in meaningful ways as we continue to focus on innovation.”
Bolthouse Farms owner buys kombucha manufacturer Health-Ade for $500M
Health-focused beverage company Generous Brands is adding to its fast-growing portfolio with the $500 million acquisition of kombucha brand Health-Ade. The fermented fizzy tea is a top-selling functional beverage brand across 65,000 locations in the U.S., with retail sales approaching $250 million annually. The brand, which launched in 2012 and traces its roots to a farmer’s market outside of Los Angeles, offers probiotics and immune-boosting antioxidants that reportedly benefit gut health. Generous, which also owns smoothie maker Bolthouse Farms, has benefited from a shift in what people look for in the beverages they consume. Generous was formed in May 2024 by private equity firm Butterfly to focus on premium refrigerated beverages. After the Health-Ade deal closes in August, the company will have four fresh beverage brands spanning the juice, smoothie, kombucha, cold-pressed, protein, coffee and alternative soda categories. Retail sales for the four offerings will total nearly $1 billion.
Snickers maker Mars to invest $2B in US manufacturing through 2026
Food giant Mars plans to invest $2 billion by the end of 2026 to expand its U.S. manufacturing capabilities and boost product innovation. The M&M’s, Snickers and Ben’s Original maker said the investment will boost production in America, where 94% of Mars’ products sold are manufactured locally. Mars previously spent $6 billion during the past five years to expand its manufacturing footprint. “This investment is about building a stronger, more resilient business in the U.S.,” Claus Aagaard, Mars’ CFO, said in a statement. “The U.S. is our biggest and most important market, and a key engine of growth for the long term.”
Grocery & Restaurants
L Catterton acquires Kisshokichi, a Kobe beef chain
Private-equity firm L. Catterton has acquired Kisshokichi, the Kobe beef restaurant chain based in Tokyo, the company said Thursday. Terms of the deal were not disclosed. L Catterton, which has invested in such concepts as Baja Fresh, Cheddar’s Scratch Kitchen, Cigierre, Hopdoddy, Mendocino Farms, Outback Steakhouse, P.F. Chang’s, and Velvet Taco, said Kisshokichi was founded in 2008 and has about 50 restaurants in Japan. “Working closely with each other, L Catterton will partner with Kisshokichi to accelerate the chain’s expansion on the back of the longstanding and sustained international recognition of Kobe beef’s acclaimed distinctiveness,” L Catterton said in a statement. Kobe beef is a designated version of wagyu (Japanese beef) that meets stringent criteria and is known for its fat marbling, tenderness, and flavor.
Naya receives an investment from private equity firm
Naya, a fast-casual Mediterranean concept, has received an investment from New York-based private equity firm Pacific General to support the chain’s expansion into a national brand. Terms of the deal were not disclosed. Naya, also based in New York, focuses on the cuisine of founder Hady Kfoury’s home country of Lebanon. It currently includes 35 units across six states and is growing rapidly. According to Technomic data, the chain finished 2024 with $41.1 million in sales, marking a 36.1% year-over-year increase. Its unit count also grew by over 36%. Naya started as a full-service restaurant. It was called Naya Mezze and Grill, a 54-seat establishment that opened in Midtown Manhattan in 2007. In a recent interview, Kfoury said he plans to accelerate openings in the coming years, with a target of hitting 200 restaurants by 2030.
Shipley Do-Nuts sold by Peak Rock affiliate to Levine Leichtman
Shipley Do-Nuts has been sold by an affiliate of private-equity firm Peak Rock Capital to Levine Leichtman Capital Partners, the companies said Monday. Terms of the deal were not disclosed. Austin-based Peak Rock bought Houston-based Shipley Do-Nuts in 2021. Levine Leichtman Capital Partners’s other foodservice brand investments have included: Beef ‘O’ Brady’s, Cici’s Pizza, Mountain Mike’s Pizza, Nothing Bundt Cakes, Tropical Smoothie Café, and Wetzel’s Pretzels. Shipley Do-Nuts is a franchisor of donut, kolache, and coffee shops with more than 375 stores across 14 states.
Home & Road
Beyond Beats Q2 Expectations as Retail, Blockchain Initiatives Advance
The second quarter saw Beyond Inc. make advances, particularly at overstock.com, surprising Wall Street as it laid plans for the first of a new generation of brick-and-mortar Bed Bath & Beyond stores, as well as blockchain initiatives involving tZERO and other companies. Company net loss was $19.3 million, or 34 cents per diluted share, versus $42.6 million, or 93 cents per diluted share, in the year-prior period. Adjusted for one-time events, net loss was $12.7 million, or 22 cents per diluted share, versus $34.8 million, or 76 cents per diluted share, in the year-earlier period. Beyond bettered a Zacks Investment Research analyst consensus estimate that pegged the second quarter loss at 37 cents per share and revenue at $261.4 million. Net revenue was $282.3 million versus $398.1 million in the year-previous quarter, the company noted. Operating loss was $17.9 million versus $47 million in the period a year before.
Written orders up in Q4 for Ethan Allen, but sales, income still facing headwinds
Ethan Allen Interiors closed out its fiscal 2025 highlighting retail segment written order growth, strong gross margin and $24.8 million in operating cash flow. For the year and fourth quarter ended June 30, the company saw a 4.9% decline in net sales year over year, at $160.4 million for the quarter and $614.6 million for the year. Written orders increased for the fourth quarter for the retail segment, up 1.6%, but the wholesale segment was down by 6.8%. For the fiscal year, retail segment written orders dipped 1.5%, while the wholesale segments saw a 3.2% decline. “Our fiscal 2025 performance reflects the strength of our vertically integrated enterprise, including our interior design retail network, relevant product offerings and ability to manufacture about 75% of our furniture in our own North American facilities,” said Farooq Kathwari, chairman, president and CEO.
Jewelry & Luxury
Kering’s Jewelry Brands Resilient As H1 Sales Slide 16%
Kering posted double-digit declining sales in the first half of 2025 as star brand Gucci faced continued struggles. However, its jewelry brands, which include Boucheron and Pomellato, showed continued resilience, it said. The luxury titan reported first-half revenue of €7.59 billion ($8.77 billion), down 16 percent year-over-year (15 percent on a comparable basis). Revenue in the second quarter was €3.7 billion ($4.28 billion), down 18 percent (15 percent on a comparable basis). Gucci weighed on its balance sheet, posting a 26 percent decline in revenue in H1 (25 percent on a comparable basis). The first half of the year was “a period of momentous decisions” for the company, said Kering CEO François-Henri Pinault. He will step down on Sept. 15, handing the reins to former automotive executive Luca de Meo.
Matthew Tratner Takes Over as CBG President
Jewelry chain organization Continental Buying Group (CBG) announced that Matthew Tratner has joined the company as president, marking a new phase of leadership for the company. CBG founder Andie Weinman will begin stepping back from day-to-day operations at the organization but will stay on as a consultant, while Joe Murphy will continue as CEO. “I am honored to join the Continental Buying Group as president and to partner with Joe in leading this exceptional community,” Tratner said. “CBG represents the very best of what our industry can be—collaborative, forward-thinking, and built on relationships. I look forward to building on that legacy, expanding the group’s offerings, and helping to deliver even more value to our members.”
Office & Leisure
WH Smith to sell Funky Pigeon business to Card Factory
British travel retailer WH Smith has agreed to sell its online personalized greeting card subsidiary, Funky Pigeon, to UK-based retailer Card Factory for £24m ($32.1m) in cash. The consideration is based on an enterprise value of £26m. The company expects to generate £21m in net cash proceeds after accounting for transaction expenses. Having transformed into a “pure play global travel retailer”, the company is poised to seize significant growth prospects in its primary markets and boost shareholder value. The transaction is expected to be completed by the end of 2025. The acquisition will strengthen Card Factory’s digital strategy, positioning it as the second-largest online card and gift retailer in the UK.
Small Door Veterinary Raises $55 Million
Small Door Veterinary, the membership-based veterinary care company redesigning the pet health experience, announced it has raised $55 million in new capital to support its next phase of growth. The raise includes a $35 million equity financing led by Valspring Capital, with participation from existing investors, Primary Venture Partners, C&S Family Capital, Lerer Hippeau, and Toba Capital, as well as a new $20 million debt facility from Bridge Bank, a division of Western Alliance Bank. Small Door is membership-based veterinary care designed with human healthcare standards. Founded in New York City, Small Door operates across the Northeast and Mid-Atlantic and is expanding nationally.
Technology & Internet
Meta Shares Climb 10% on Revenue Beat, Raised Forecast
Meta shares jumped more than 10% after the company reported second-quarter earnings on Wednesday that beat on the top and bottom line. Meta’s second-quarter sales increased 22% year over year, which was the same growth rate as a year ago. The company’s advertising revenue for the second quarter came in at $46.56 billion, ahead of Wall Street projections of $43.97 billion. On a call Wednesday with analysts, CEO Mark Zuckerberg said Meta’s artificial intelligence technology unlocked “greater efficiency and gains across our ad system.” Meta said third-quarter sales will come in a range between $47.5 billion and $50.5 billion, ahead of Wall Street estimates of $46.14 billion. Reality Labs, Meta’s unit tasked with developing virtual reality and augmented reality technologies, recorded an operating loss of $4.53 billion on $370 million in sales during the second quarter. The loss was less than Wall Street estimates, but so were the expected sales.
Amazon’s Gloomy Outlook Overshadows Better-Than-Expected Results
Amazon shares slid more than 7% in extended trading on Thursday after the company reported second-quarter results that exceeded expectations, but it gave light operating income guidance for the current period. Amazon’s second-quarter sales grew 13% year over year to $167.7 billion, an acceleration from a year ago, when revenue expanded 10%. The guidance spooked investors who are eager to see Amazon’s hefty investments in AI pay off. The company has committed to spend up to $100 billion this year on AI as it races to build out data centers and software. “Our AI progress across the board continues to improve our customer experiences, speed of innovation, operational efficiency, and business growth, and I’m excited for what lies ahead,” Jassy said in the earnings release. Revenue in the third quarter is forecast to be $174 billion to $179.5 billion, representing growth of 10% to 13% year over year.
Apple Reports Biggest Revenue Growth Since December 2021
Apple reported third-quarter earnings on Thursday that topped Wall Street expectations for profit and revenue. iPhone sales grew 13% year over year and overall revenue grew 10% — Apple’s largest quarterly revenue growth since December 2021. The company’s most important business remains the iPhone, which saw 13% growth on an annual basis during the quarter to $44.58 billion in sales. Cook said iPhone revenue was strong because the iPhone 16 is more popular compared to the iPhone 15 devices on sale last year at the same time. Cook said iPhone 16 sales were up “strong double digits” versus its predecessor. Cook specifically highlighted popularity among current iPhone users upgrading to a new one. Apple’s Mac business grew the fastest of any of Apple’s units during the June quarter, growing nearly 15% to $8.05 billion in revenue. Apple released updated MacBook Air laptops, its best-selling Mac, just before the quarter started.
Finance & Economy
Divided Fed holds rates steady, again defying Trump, as two Fed governors dissented
The Federal Reserve held interest rates steady for the fifth meeting in a row as two Fed governors dissented, underscoring the division within the central bank over the potential impact of President Trump’s tariffs. Central bank policymakers voted to maintain the Fed’s benchmark interest rate in the range of 4.25%-4.5% as they have throughout 2025, after cutting rates by a full percentage point last fall. Fed governors Christopher Waller and Michelle Bowman disagreed with the decision and preferred to cut rates by a quarter percentage point, the first time two governors have dissented on a monetary policy decision in more than three decades.
Trump announces 25% tariff on India plus ‘penalty’ for trade with Russia
President Donald Trump said that India will pay a tariff of 25% beginning August 1, in addition to a “penalty” for what he views as unfair trade policies and for India’s purchase of military equipment and energy from Russia. The 25% tariff rate is modestly lower than what he imposed on India on “liberation day,” when he announced a 26% rate on the key trading partner. It’s still on the higher end of what Trump appeared to be considering for India. Trump said he was considering a rate between 20% and 25%. Trump has repeatedly said that the goal of his sweeping tariff regime is to dramatically cut the United States’ trade deficit with other countries. Economists have questioned this motive, however. They note that importing goods from countries with lower labor costs means that Americans can pay lower prices for finished products.
US and EU avert trade war with 15% tariff deal
The U.S. struck a framework trade agreement with the European Union, imposing a 15% import tariff on most EU goods – half the threatened rate – and averting a bigger trade war between the two allies that account for almost a third of global trade. U.S. President Donald Trump and European Commission President Ursula von der Leyen announced the deal at Trump’s luxury golf course in western Scotland after an hour-long meeting that pushed the hard-fought deal over the line, following months of negotiations. “I think this is the biggest deal ever made,” Trump told reporters, lauding EU plans to invest some $600 billion in the United States and dramatically increase its purchases of U.S. energy and military equipment. Trump said the deal, which tops a $550 billion deal signed with Japan last week, would expand ties between the trans-Atlantic powers after years of what he called unfair treatment of U.S. exporters.
