Story of the Week
Unilever acquires Dr. Squatch, valuing brand’s viral marketing to Gen Z men
Unilever is acquiring men’s personal care brand Dr. Squatch from private equity firm Summit Partners, according to a press release. Financial terms of the transaction were not disclosed. The deal is part of the CPG giant’s efforts to align its portfolio around premium and high-growth verticals. Unilever praised Dr. Squatch’s “built-in-culture” brand, which has been established through viral social media marketing and partnerships with influencers and celebrities like Sydney Sweeney. Unilever is significantly ramping up its spending on social media and influencers to reach different global markets and consumer groups. Snapping up Dr. Squatch also sees the company return to direct-to-consumer (DTC) acquisitions, a strategy that has not always panned out.
Apparel & Footwear
Borletti group and Quadrivio & Pambianco acquire Twinset
Borletti Group and Quadrivio & Pambianco, through the private equity vehicle Made in Italy Fund II, acquired 100% of the Italian fashion brand Twinset from Carlyle, which had controlled it since 2017. The transaction involves equal participation between the two investors, who will jointly support the company’s future growth. Co-investors include Narval Investimenti and Ersel Banca Privata. Narval Investimenti will also support the company on its new growth path by appointing its own representative to Twinset’s board of directors. Founded in Capri in 1990, Twinset achieved a turnover of over 200 million euros in 2024, with an EBITDA of more than 30 million euros. The majority of sales are direct-to-consumer (D2C) through its own network of shops and the online channel, while the remaining turnover is generated through the wholesale channel.
Nike CEO Says Q4 Results ‘Are Not Where We Want Them to Be’ Amid Turnaround Push
Shares of Nike Inc. slipped 1 percent to $62 on June 26, following the release of fourth-quarter 2025 results, which were in line with expectations but not as high as the company had hoped. Net income in the fourth quarter fell 86 percent to $211 million from $1.5 billion in the year-ago period. Diluted earnings per share dropped to 14 cents from 99 cents. And sales tallied $11.1 billion, down 12 percent from $12.6 billion. The company’s fourth-quarter results narrowly beat Wall Street’s best guess. Analysts, on average, were expecting earnings per share of 13 cents, according to LSEG. By business segment, the company said Nike brand’s fourth-quarter revenues were $10.8 billion, down 11 percent, driven by declines across all geographies. Nike Direct revenues were $4.4 billion, a 14 percent decline, primarily due to a 26 percent decrease in Nike Brand Digital. That was partially offset by a 2 percent increase in Nike-owned stores.
Athletic & Sporting Goods
CCM Hockey Receives Investment from Minority Stakeholders
Seven7, LLC, the Stamford, CT-based investment firm, has co-invested with Nordic private equity firm Altor in the previously announced acquisition of CCM, the global hockey equipment brand. Founded in 1899, CCM has been at the forefront of hockey, outfitting generations of NHL players and supporting grassroots programs across North America and Europe with hockey equipment and apparel. The investment from Seven7 and Altor will focus on international expansion, digital transformation, product innovation, and deeper engagement with the next generation of players. This investment marks the latest in a series of strategic hockey-sector investments for Seven7, which has also backed LiveBarn, EZ-Ice, Sauce Hockey, and a USHL franchise.
JD Sports Opens First Canadian Flagship Store
JD Sports‘ North American strategy is growing rapidly. On the heels of its latest store on the Las Vegas strip — the U.K.-based athletic retailer earlier this month opened its third U.S. flagship store in the new BLVD retail development on Las Vegas Blvd — JD opened its first Canadian flagship on Vancouver’s iconic Robson Street. JD already operates 33 doors in Canada and plans to add 17 locations by the end of 2026. The company stated that Robson Street, known as Vancouver’s premier shopping and cultural hub, is the perfect setting for the company’s flagship in Canada.
Win Reality Acquires Blast Motion to Build Next-Gen Athlete Development Network
Win Reality, the virtual reality training and AI-powered swing analysis platform for baseball and softball, has acquired Blast Motion, a company specializing in swing sensor and motion analysis technology across baseball, softball, and golf. Terms of the transaction were not disclosed. The merger will combine Win’s VR training (TrainVR) and video-based AI swing analysis (SwingAI) with Blast’s patented motion sensor and biomechanics platform to help athletes improve more quickly by unifying game-speed reps, swing feedback, and real-time performance insights. Blast Motion said in a media release that the company’s technology is “used by 36 professional baseball teams, over 300 college programs, thousands of high school and youth athletes, elite softball players, and more than 200 golf tour pros.”
ESPN renews media deal with professional lacrosse, takes an equity stake in the league
ESPN is renewing its media deal with the Premier Lacrosse League and taking an equity stake in the organization. The five-year deal will begin with the 2026 season and include all PLL regular-season games as well as All-Star, playoff, and championship games and Women’s Lacrosse League games. The deal comes as pro lacrosse has seen gains across broadcast, partnerships, and attendance. It will also be added to the 2028 Olympic Games in Los Angeles. Alongside the deal, Disney-owned ESPN said it will take a minority stake in the league. A person familiar with the terms, who spoke on the condition of anonymity to discuss nonpublic details, said the investment gives ESPN a 3% stake. The partnership also seems to be paying off for ESPN. During the 2024 season, viewership on ABC for the PLL’s championship game was up 9% year over year.
Cosmetics & Pharmacy
Unilever Raises €1.5 Billion in Bond Offering to Support Long-Term Strategy
Unilever Capital Corporation has completed a €1.5 billion bond issuance without market stabilization measures, marking a strategic financing move by the beauty and personal care giant. Unilever Capital Corp, backed by Unilever PLC and Unilever United States Inc., issued two tranches of senior unsecured notes: €700 million over five years and €800 million over ten years. Managed by Mizuho, Santander, Goldman Sachs, and BofA Securities, the offering concluded on June 20 with no post-stabilization activity required. The €1.5 billion raise gives Unilever added financial flexibility amid portfolio realignments and continued competition in the beauty and personal care sector. With no stabilization required, investor demand appeared strong—a signal of confidence in the group’s credit and strategic direction.
PZ Cussons Sells Stake in Nigerian JV, Lowers FY25 Profit Guidance
Soap company PZ Cussons has agreed to sell its 50% equity stake in palm oil supplier and Nigerian joint venture PZ Wilmar to Wilmar International for US$70 million. The transaction is expected to be completed in the final quarter of 2025, subject to regulatory approvals. Net proceeds after taxes and fees are expected to be approximately US$64 million. The joint venture, formed in 2010, contributed £4.7 million to the Group’s adjusted operating profit in the first half of FY25. The divestment follows a portfolio review announced in 2024 and forms part of the company’s broader restructuring. In its FY25 trading update, PZ Cussons reported like-for-like revenue growth of 8%, with total revenue expected to reach approximately £505 million.
Glossier CEO Kyle Leahy to Step Down by Year-End
Glossier Chief Executive Officer Kyle Leahy will step down from her role by the end of 2025, following a three-year tenure. Leahy, who succeeded founder Emily Weiss in 2022, led the brand through a period of structural change and retail expansion. During her time as CEO, Glossier entered Sephora in the U.S. and Canada, launched with new global retail partners, and opened additional standalone stores. Leahy will retain her board seat through 2026 and is working with the board to identify a successor. Leahy’s departure comes amid continued shifts in Glossier’s business model, as the brand adapts to a wholesale-driven strategy after years as a DTC pioneer. The leadership transition suggests a new phase of growth and restructuring as the brand continues to evolve in a competitive beauty landscape.
Discounters & Department Stores
J.C. Penney to close Texas warehouse
J.C. Penney will permanently close its Alliance Supply Chain facility in Haslet, Texas, impacting nearly 300 employees. The facility will shutter around November 1, 2025, the retailer stated in a Worker Adjustment and Retraining Notification letter. Layoffs will happen in two waves, with the first taking place between August 1 and August 14 and the second occurring between November 1 and November 14. Some associates may be offered a job at other J.C. Penney locations. “J.C. Penney is always seeking ways to adapt and enhance our operations with the goal of providing a better experience for our customers,” the company said in a statement to Retail Dive regarding the closure. “While this decision was difficult, it was necessary to build a stronger, more competitive company.”
Saks in talks for $600 million debt deal with bondholders
Saks Global Enterprises is negotiating with bondholders to secure up to $600 million in new financing, replacing a previously announced third-party loan. The luxury retailer’s discussions are in advanced stages but have not been finalized, according to Bloomberg, citing sources familiar with the matter who requested anonymity. Saks plans to make its June 30 bond coupon payment of approximately $120 million on time, sources indicated. This represents the first coupon payment due on the bonds. The company issued $2.2 billion in bonds last December to help fund its $2.7 billion acquisition of Neiman Marcus Group. Within months of completing the takeover, these bonds were trading at distressed levels as Saks faced challenges paying vendors and began considering new financing options. The potential new debt arrangement would provide crucial funding for the luxury retailer as it navigates financial difficulties following its major acquisition completed earlier this year.
Walmart is testing dark stores, or brick-and-mortar locations that fulfill online orders but are not open to the public, the company confirmed. The retailer is currently piloting the concept in Dallas. The dark stores will carry some of the retailer’s most popular products, as was first reported by Bloomberg. Another location is planned for Bentonville, Arkansas, the retailer’s hometown, per the publication. Dark stores are utilized to expedite and streamline online fulfillment, which is crucial for retailers to accelerate their operations. The company has leveraged its store footprint and technology, including drones, to enhance delivery in recent years. Walmart U.S. achieved e-commerce profitability in Q1 for the first time, with sales up 21%, a metric CFO John David Rainey said is “an important milestone for our company.”
Emerging Consumer Companies
Shakira’s Haircare Brand Isima Raises Over $12 Million
Isima, the new haircare brand founded by Shakira, has raised over $12 million in debut funding to support its ambitious growth plans. Backed by a group of high-profile investors, the brand is preparing for a global launch with high-performance formulas developed specifically for Latin hair. Among its financial supporters are Stelac Capital Partners, WME, northstar.vc, and LMDV Capital, an Italian single-family office led by Leonardo Maria Del Vecchio. Known for investing in brands that merge cultural identity with science and social impact, Del Vecchio said: “We chose to support Isima because it brings together scientific innovation and a deep respect for individual identity. In an industry long dominated by one-size-fits-all solutions, Isima offers something different — products designed to embrace diversity and meet the unique needs of each person.”
Parachute to close 19 stores by the end of this year
Home textile brand Parachute plans to close a total of 19 stores by the end of this year, according to information the company shared with Retail Dive. The brand began shuttering locations earlier this year. The company will be left with seven open stores as it shifts its strategy to focus “on markets where we already have strong community traction,” CEO Mehdi Ait Oufkir said in an emailed statement. Ait Oufkir said the brand plans to deepen partnerships with Nordstrom and Target, where an exclusive collection was launched in April. This follows the company’s venture into home furnishings, which started in 2021 with bed frames. Parachute then debuted living room furniture, including sofas, in October of 2022. However, the company no longer sells these products on its website.
TSG Consumer Partners invests in men’s personal hygiene brand Dude Wipes
DUDE Wipes, the crew that turned bathroom breaks into bold moves, announced a strategic growth investment from TSG Consumer Partners, a leading private equity firm focused on the consumer sector. Founders Sean Riley, Chief Executive Officer, Jeff Klimkowski, Chief Financial Officer, and Ryan Meegan, Chief Marketing Officer, will retain significant ownership stakes and continue to lead the company in their current executive roles. Long-time “Shark Tank” investor Mark Cuban is also continuing to bet on the DUDEs through this next phase of growth. Founded in Chicago in 2011 by lifelong friends, DUDE Wipes set out to revolutionize the bathroom experience. The partnership with TSG Consumer will support the company’s efforts to broaden household adoption, reach new consumer segments, and deepen manufacturing relationships and retail partnerships.
Podcast and media company Dear Media has acquired fitness platform Obé Fitness, adding a fitness and wellness-driven dimension to its existing footprint in commerce and lifestyle content. The deal sees former Creative Artists Agency agent and Obé Fitness co-founder Mark Mullett joining Dear Media as president of global entertainment and business development. Co-founder Ashley Mills will stay on for a six-month transition period before exiting to launch a new venture focused on the intersection of wellness and education. Founded in 2018, the celeb-favorite streaming fitness platform raised $15 million in a Series A round in 2021, which included notable backers such as WW International Inc., actress and comedian Tiffany Haddish, Cavu Venture Partners, Wheelhouse Entertainment, and Harris Blitzer Sports Entertainment. The media company is known for a slate of popular shows in categories spanning beauty, health and wellness, parenting, relationships, and true crime.
Food & Beverage
CH Guenther buys US tortilla maker Fresca Mexican Foods
Private-equity-backed bakery group CH Guenther & Son has bought US tortilla manufacturer Fresca Mexican Foods. The financial details of the deal were not revealed. In a statement, CH Guenther & Son said it is looking to expand its tortilla output and improve its relationships with foodservice customers. Idaho-based Fresca Mexican Foods employs approximately 370 full-time staff members and manufactures around five million tortillas daily. CH Guenther & Son CEO and president Rod Hepponstall said: “The company’s state-of-the-art manufacturing facility and strategic partnerships with some of the most prominent fast casual and QSR chains in North America are a great fit as we continue to execute our growth strategy. Hepponstall joined the group in 2023, following a five-year tenure as chief executive at seafood supplier High Liner Foods.
Mars’ $36B takeover of Kellanova delayed amid EU investigation
Mars’ $36 billion cash takeover of Pringles maker Kellanova will be delayed after the European Union announced an in-depth investigation into the merger. Mars said it expected the deal to close toward the end of 2025. The European Commission, the E.U.’s antitrust regulator, warned in a preliminary investigation that the deal would increase Mars’ product portfolio and could give it greater bargaining power with retailers. As a result, Mars could use that leverage to extract higher prices from retailers, which would then be passed on to consumers. The transaction, which would give the M&M maker ownership of Cheez-It, Pringles, and other snacks, was announced last August 2024 and initially projected to close in the first half of 2025. The commission has until October 31 to conduct its investigation and make a decision.
General Mills Confirms Acquisition of Gladstone Food Products
General Mills finalized the previously anonymous acquisition of Gladstone Food Products’ assets, which shut down in January 2025, according to local news reports. General Mills outbid more than 40 potential buyers to come to an agreement to purchase the parent company of the La Tiara taco shell and seasoning brand for $10 million last month. A judge approved the deal last month, and the transaction has since closed, at which point General Mills was revealed to be the buyer, confirmed by the Clay County, Mo., recorder of deeds. The company also confirmed the acquisition in a statement to the news outlet. Gladstone reported more than $6 million in sales for fiscal 2024, against more than $5 million owed to creditors at the time of its closure.
Arkay Beverages Announces Strategic Alliance with Mexico’s Largest Spirits Operator
Arkay Beverages, the global pioneer in alcohol-free spirits, proudly announces that Licor Zone Mexico, the largest spirits producer and operator in Mexico, has signed a Memorandum of Understanding (MOU) to acquire a 10% equity stake in Arkay Beverages. This strategic partnership underscores Arkay’s unwavering commitment to transparency, integrity, and sustainable growth—principles that several major global spirits conglomerates have failed to uphold. In response, Arkay has made the deliberate decision to distance itself from these entities and instead align with forward-thinking partners who share its values and long-term vision. The terms of the agreement remain unchanged: 10% equity for $150 million, based on a $1.5 billion valuation.
Grocery & Restaurants
C&S Wholesale Grocers acquires SpartanNash for $1.77B
C&S Wholesale Grocers has entered into a definitive agreement to acquire SpartanNash for $1.77 billion, the companies announced. The combined company will operate more than 200 grocery stores and nearly 60 complementary distribution centers across the U.S. The agreement is expected to close in late 2025. “Our industry is facing critical challenges, including rising fixed costs and slowing topline growth,” C&S CEO Eric Winn said in a company email. “Our integration is key to diversifying our capabilities and expanding our wholesale and retail geographic footprint to support long-term, sustainable success.”
Luke’s Lobster Receives Investment from Whole Foods
Luke’s Lobster announced that it received a growth investment from Whole Foods Market. The grocery chain participated in a minority growth equity financing led by Relentless Consumer Partners. The fast casual currently operates 28 locations (23 on the East Coast and five on the West Coast) and nine international stores. Luke’s will use the funds to expand its CPG offerings and distribution footprint, support new restaurant openings, and drive innovation and growth in the seafood industry as a whole. The leadership team will maintain day-to-day control, while Relentless and Whole Foods will provide strategic guidance and resources. Whole Foods has a longstanding partnership with Luke’s. In 2018, the seafood brand was recognized as Whole Foods Market’s Supplier of the Year.
The McDonald’s/Krispy Kreme partnership is over
McDonald’s and Krispy Kreme today jointly announced that their partnership will come to an end on July 2. In October 2022, the companies began testing Krispy Kreme doughnut sales at nine Louisville, Ky.-area McDonald’s restaurants. By March 2023, the partnership had expanded to 160 McDonald’s locations in Louisville, as well as nearby Lexington, Ky. The rollout continued through 2023 and 2024 with a goal of reaching a majority of McDonald’s roughly 13,600 restaurants by the end of 2026. But cracks began to appear early this year when Krispy Kreme executives announced during the company’s first quarter earnings call that the rollout would pause in Q2 due to lower-than-expected sales. At the time, there were 2,400 McDonald’s locations selling the doughnuts. A new deployment schedule never came to pass.
Home & Road
MillerKnoll reports strong Q4 results despite tariff challenges
Global modern design and furniture company MillerKnoll‘s net sales showed an increase in the fourth quarter, driven by strong order growth and improved sales volume. The company also saw strong growth in its North America contract and global retail segment, driven by higher customer demand in workplace and commercial spaces. For the period ended May 31, net sales for the fourth quarter rose 8.2% to $961.8 million, up from 0.4% to $876.2 million in the third quarter of 2025. The company reported net sales of $3.7 billion, up 1.1% and 1.6% organically year-on-year. Orders totaled $1,036.8 million for the quarter, up 11.1% year-on-year, with organic order growth of 10.7%. The company credited the positive results to better operational performance and strong sales in important markets. The Global Retail segment posted net sales of $280 million, a 2.2% year-on-year increase. Orders climbed 7.5%, with North America retail orders rising 8%.
Steelcase sees strong Q1 revenue, income gains on corporate demand
Furniture brand Steelcase reported a strong start to its fiscal year 2026, with first-quarter revenue rising 7% to $779 million, driven largely by growth in the Americas and ongoing investments from large corporate clients. Net income rose to $13.6 million, or 11 cents per share, up from $10.9 million, or 9 cents per share, in the same period last year. Adjusted earnings per share reached 20 cents, compared with 16 cents in Q1 2025. “Our first quarter results were a great start to the year,” said Sara Armbruster, president and CEO. “We delivered strong revenue growth, led by our large corporate customers who are investing to reimagine their workplaces. As organizations bring people together in new ways, they are turning to Steelcase to create spaces that support connection, creativity, and performance.” Revenue in the Americas grew 9%, reaching $603.6 million, fueled by a larger backlog and demand from corporate, government, and healthcare sectors.
Jewelry & Luxury
Zhou Liu Fu raises HK$1.29 billion in Hong Kong IPO
China’s Zhou Liu Fu Jewellery has raised HK$1.29 billion (US$164.33 million) in its Hong Kong initial public offering, the latest mainland company to list in one of Asia’s most vibrant stock markets this year. The shares opened at HK$26.7, up 11.25% from their listing price of HK$24, on the main board of the Hong Kong Stock Exchange on June 26. The stock closed 25% higher at HK$30. The company’s successful listing was its fifth attempt after a lapsed application in Hong Kong and three failures on the mainland. China International Capital Corporation Hong Kong Securities Limited and China Securities (International) Corporate Finance Company Limited acted as the joint sponsors of the IPO, with Paul Hastings as legal adviser.
Signet’s Rocksbox Begins National Expansion With Two Store Openings
Signet’s D2C jewelry company Rocksbox is undertaking a national retail expansion, with new stores in New York City and Northern California and plans to open locations in Miami and Los Angeles by fall. The two-week-old Rocksbox NYC store, at 239 Elizabeth St. in SoHo, is celebrating its grand opening this evening. During May 2025, Rocksbox opened at 1306 Broadway Plaza in Walnut Creek, Calif.—about an hour away from its original retail site in San Francisco, a former pop-up shop that has become Rocksbox’s permanent flagship location. Allison Vigil, president of the brand, says customers’ warm reaction to the San Francisco pop-up sparked the decision to go further into brick-and-mortar stores.
Perfect Moment Ltd. Announces Pricing of Public Offering
Perfect Moment Ltd., the high-performance, luxury skiwear and lifestyle brand that fuses technical excellence with fashion-led designs, announced the pricing of its underwritten public offering of 10,000,000 shares of its common stock. Each share of common stock is being sold at a public offering price of $0.30 per share for gross proceeds of $3,000,000, before deducting underwriting discounts and offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 1,500,000 shares of common stock at the public offering price less discounts and commissions, to cover over-allotments. The offering is expected to close on June 30, 2025, subject to satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering primarily for repayment of debt, working capital, and general corporate purposes.
Balenciaga and Puma Launch Their Collection
Balenciaga and Puma launched their collaboration on June 23, 2025. The collection was originally unveiled as part of the brand’s winter 2025 collection and aims to blend sportswear and fashion, featuring new footwear with fresh takes on the sportswear company’s most popular shoe styles. The Balenciaga and Puma campaign was photographed by Ari Versluis, who recently captured the “Exactitudes” spring 2026 lookbook, Demna’s final ready-to-wear collection for the fashion house. The campaign features models Diede, Tianee, Brooks, Yav, and Joe wearing looks from the collaboration, styled with pieces from the winter 2025 collection.
Office & Leisure
Vision Marine Acquires Nautical Ventures
Electric boat and propulsion manufacturer Vision Marine Technologies announced the acquisition of Florida-based Nautical Ventures Group, which includes dealership, marina, and service locations. The deal marks the formation of North America’s first electric propulsion and dealership company, according to a company statement. Nautical Ventures operates nine retail locations across Florida, including two flagship waterfront showrooms. The dealership’s portfolio of brands includes Axopar, Beneteau, Brabus, EdgeWater, Flite, Highfield, Hobie, Mercury, Northstar, Seabob, Smoker Craft, Suzuki, Tohatsu, Wellcraft, and Yamaha.
Lottery.com Announces $10 Million Acquisition of GXR World Sports Assets
Lottery.com Inc., a leading technology company transforming the intersection of gaming, sports, and entertainment, announced it is advancing its global expansion with the planned launch of the Sports.com Super App—a first-of-its-kind digital destination for sports fans worldwide. The Super App is designed to combine live streaming, social engagement, e-commerce, and gamification into a single immersive ecosystem. To accelerate the development timeline for the Super App, Lottery.com has signed a Letter of Intent (LOI) to acquire a 51% controlling interest in the sports and technology assets of GXR, valuing the transaction at $10 million pre-money. Subject to due diligence and final agreement, the deal allows Lottery.com to fund the $5.1 million initial investment via cash, stock, or a combination at a fixed $3.00 share price. Lottery.com has also pledged a $15 million financing commitment to fuel expansion of the Sports.com Super App.
Technology & Internet
Amazon bringing faster delivery to thousands of small towns and cities
Amazon is expanding its rapid delivery machine to more rural corners of the U.S. The company said it plans to bring same-day or next-day delivery to more than 4,000 smaller cities, towns, and rural communities across the country “for the first time” by the end of this year. The move is part of a previously announced small-town expansion that will see Amazon spend roughly $4 billion by the end of 2026 to triple the size of its rural delivery network. Amazon has made speedy delivery a cornerstone of its juggernaut e-commerce business as it faces heightened competition from brick-and-mortar stalwarts such as Walmart, and newer entrants including Temu, Shein, and TikTok Shop.
Finance & Economy
Fed plan to ease leverage rule offers windfall for big US banks, Morgan Stanley says
A Federal Reserve plan to relax leverage rules could free up $185 billion in capital and unlock nearly $6 trillion in balance sheet capacity for large U.S. global banks covered by Morgan Stanley, the brokerage estimated. The U.S. Fed unveiled a proposal that would overhaul the amount of capital large global banks must hold against relatively low-risk assets, as part of a bid to boost participation in U.S. Treasury markets. The plan, approved by a 5-2 Fed vote, marks the first in a possible series of deregulatory moves led by the central bank’s new vice chair for supervision, Michelle Bowman. The proposal would reform the so-called “enhanced supplementary leverage ratio” so that the amount of capital banks must set aside is directly tied to the size of each firm’s role in the global financial system.
Trump trade deadline of July 9 ‘not critical’: White House
President Donald Trump could extend his upcoming self-imposed tariff pause deadlines, the White House announced on Thursday, June 26. Asked if Trump is still committed to a deadline to strike trade deals by July, press secretary Karoline Leavitt said that date “is not critical.” “The president can simply provide these countries with a deal if they refuse to make us one by the deadline,” Leavitt said at a press briefing. “And that means the president can pick a reciprocal tariff rate that he believes is advantageous for the United States and for the American worker,” she said. She later added, “Perhaps it could be extended, but that’s a decision for the president to make.”
