U.S. and E.U. reach tariff agreement and Menendez brothers face parole officials: Morning Rundown

The U.S. and the E.U. reach a tariff agreement on pharmaceuticals, lumber and semiconductors. The GOP-controlled Texas House passes new congressional maps. And parole hearings are set for Erik and Lyle Menendez, the brothers convicted of killing their parents in 1989.

Here’s what to know today.

Trump backs down on threats of 250% tariffs on some European Union products

The Trump administration agreed to limit tariffs on pharmaceuticals, lumber and semiconductors imported from the European Union to 15%, according to a new framework trade agreement. The deal also includes a promise from the E.U. to buy energy and artificial intelligence technology from the U.S., and mentions that European companies will invest an additional $600 billion “across strategic sectors” through 2028.

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According to the agreement, the U.S. plans to roll back tariffs on “unavailable natural resources (including cork), all aircraft parts, generic pharmaceuticals and their ingredients and chemical precursors” to pre-January levels starting Sept. 1.

President Donald Trump recently threatened the European pharmaceutical industry with tariffs as high as 250% and the region’s semiconductor industry with tariff rates as high as 100%.

The E.U.’s blanket “reciprocal” tariff, which took effect earlier this month, will remain 15%.

Read the full story here.

What’s next after Texas House passes redistricting maps

Texas is set to fully enact its new congressional maps as soon as this week after the Republican-controlled state House passed the mid-decade redistricting maps. The vote came days after state Democrats returned from a two-week “quorum break,” but not before they took to the House floor to criticize their Republican colleagues.

The aim to pad the party’s majority by as many as five seats in the midterm election, urged on by Trump, has other top Republicans in states like Indiana, Missouri and Florida considering tweaks to their maps, too. And Ohio must redraw its lines by law since a 2021 map was approved without Democratic support.

California Gov. Gavin Newsom’s push to counter Texas’ actions with his own redraw, aimed at giving Democrats five more seats, is also still in motion. The state Legislature held an hourslong hearing this week that turned contentious amid interruptions and partisan clashes.

Read the full story here.

More politics news:

• Winnie Greco, a longtime ally, adviser and fundraiser for New York Mayor Eric Adams, was suspended from his re-election campaign after she was accused of attempting to hand a cash-stuffed potato chip bag to a journalist.

• Some military officers are set to take on roles as federal prosecutors amid the Trump administration’s takeover of policing in Washington, D.C.

• Trump has called on a Biden appointee on the Fed Board of Governors to resign over mortgage fraud allegations, making her the latest official targeted in the administration’s effort to undermine critics.

• Homeland Security Secretary Kristi Noem is pushing for ICE to operate its own fleet of planes to deport immigrants.

Menendez brothers face parole fate at suitability hearings

Erik and Lyle Menendez, the brothers who murdered their parents in 1989, will go before California parole officials over the next two days in a bid to show that they are suitable for release. Erik, 54, will appear before the board today. Lyle, 57, will appear tomorrow.

The brothers were convicted in 1996 after two high-profile trials. They claimed they killed their parents, José and Kitty Menendez, in self-defense after years of abuse at their father’s hands. Prosecutors have disputed those claims and described the killings as ruthless and financially motivated.

Earlier this year, a Los Angeles judge found that the men do not pose an “unreasonable risk” to society and resentenced them to 50 years to life, effectively canceling their previous terms of life without parole. Though state commissioners will determine whether the Menendez brothers are suitable for parole, the decision to release them will ultimately land with California Gov. Gavin Newsom. Read the full story here.

Frank Caprio, TV judge known for kindness, dies at 88

Frank Caprio, a Rhode Island judge whose compassion from the bench was showcased on the local television show “Caught in Providence,” has died at the age of 88.

A post on his official Facebook page confirmed Caprio died after a “long and courageous battle with pancreatic cancer.”In “Caught in Providence,” Caprio’s compassionate rulings often went viral and drew national attention.

He later became a household name when his show was syndicated and later became available on Prime Video. After the announcement of Caprio’s death, Gov. Dan McKee called his friend “a Rhode Island treasure.” Read the full story here.

Read All About It

• The effects of Hurricane Erin brought tropical storm conditions to the North Carolina coast as the Category 2 storm continued over the Atlantic Ocean.

• Russian officials signaled they are in no rush to agree to a leaders’ summit with Ukraine and warned the West that talks over security guarantees for Kyiv were a “road to nowhere” without its involvement.

• The FDA and CDC are expected to approve the next round of Covid shots soon but only for a small group of people. That could leave many people having to pay out of pocket for a booster.

• A Texas teen’s health insurance company denied her twice for spinal surgery, claiming it was “not medically necessary.” After NBC News reached out, it was approved the next day.

Staff Pick: A key interest rate drop won’t necessarily fix mortgage rates

Trump has demanded that the Federal Reserve cut its influential interest rates, but economists are concerned that mortgage rates will remain elevated until the economy falters. That’s because mortgage rates are more closely tied to demand for longer-term government bonds like the 10-year Treasury note. When demand for those bonds increase, their interest rate, or yield, declines — and so do mortgage rates.

The 30-year mortgage rate has remained unchanged since Trump’s election last November, reflecting the general uncertainty his mix of tariff, immigration and fiscal policies have created. Even the Fed’s decision last year to lower its benchmark interest rate by a full percentage point did little to change things. With home borrowing costs still stubbornly high, experts told me one likely way to move the needle would be a dramatically worsening economy. — Rob Wile, business reporter

NBCU Academy: Baltimore police are building trust with Black boys

For a few hours after school in Baltimore, you can find police recruits exercising, practicing yoga and learning how to breathe with Black boys from the community. It’s all through an organization called Project Pneuma, which helps fourth- through eighth-graders develop healthy social and emotional skills through mentorship. The nonprofit aims to instill forgiveness, self-control and discipline in Black youth, all while building trust with police.

“Many have not had an opportunity to really be able to express their emotions as young Black men, and so our goal has been to help them to release those emotions and let them know that it’s OK not to be OK,” said Project Pneuma founder Damion Cooper.

See how Project Pneuma is, as Cooper describes it, “a chance to break the stigma that young men of color and officers can’t coexist.”

NBCU Academy is a free, award-winning education program for developing new skills and advancing careers in journalism, media and tech.

NBC Select: Online Shopping, Simplified

The FDA warned that four hand soap products from DermaRite may be contaminated with dangerous bacteria. Learn about which products were included in the recall in NBC Select’s latest recall alert. Plus, experts suggested the best acne treatments for teens experiencing breakouts.

Sign up to The Selection newsletter for hands-on product reviews, expert shopping tips and a look at the best deals and sales each week.       

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