Donald Trump still needs patience with his tariffs. The situation in the morning

Good morning, dear readers!

Donald Trump may have longed for this day like a child of Christmas. Other countries feared him. Now he is there, August 1, on which Trump wanted to swing the customs club as usual. Although … the president has to wait a little.

From this Friday, the new US tariffs should apply to the European Union, Japan and other important trading partners, from which Trump hopes for a flourishing of the domestic economy. Actually.

Because the entry into force was postponed to August 7th. According to a US official, the reason is that the border and customs authorities need time to implement the new system. This also applies to the tariffs on goods from the EU.

The EU, but also Japan and South Korea, can take a few more days before the 15 percent tariffs hit their products.

Other countries are likely to be even more happy about the postponement than a postponed dentist date. Brazil, for example, for which Trump had announced juicy 50 percent tariffs. India is said to shell out 25 percent with the threat that it could even be 100 percent. A threat that also hovers over China and Brazil because they obtain cheap oil from Russia.

Canada threatens 35 percent. Trump said that the planned recognition of a Palestinian state by the G7 state significantly difficult. According to the white house, countries without trade agreements with the USA should be informed about future conditions. You can adjust to a general ten percent customs rate – Australia, for example.

Mexico, on the other hand, enjoys Trump’s grace: he agreed to extend the deadline by 90 days. On the phone, he and his Mexican counterpart Sheinbaum agreed on further negotiations. Until then, Mexico will pay the previous tariffs: 25 percent on cars and certain goods as well as 50 percent on steel, aluminum and copper-but there are at least no extra levies.

However, the legal basis for the tariffs remains controversial. Trump uses an emergency law from 1977 to proclaim an emergency due to the trade deficit and impose “reciprocal” tariffs and a separate fentanyl emergency. Appeal judge is currently examining the legality. At the end of May, an appellate court had lifted the blockade of almost all tariffs that had previously ordered a lower authority.

US media report that the judges see Trump’s approach extremely skeptical. A judge complained that the word “tariffs” does not even occur in the emergency law. According to the “Washington Post”, weeks could pass until a decision, and even then the dispute could continue – until the Supreme Court. No rosy prospects for the community of states. Except for Donald Trump, of course.

A few days ago I wrote here in the morning | Stern about the demands of our Federal Minister of Economics Katherina Reiche: We should work longer and more because our pension system does not last long under the current conditions. With this she attracted a lot of criticism, also in her own ranks and the coalition – but also received praise. The debate about our pension system has started on speed.

A paper from the IFO Institute further heats the discussion and shows that it is five to twelve. A group of economists warns of a “dramatic demographic challenge” and calls on politics to reform.

“A comprehensive reform of the German pension system is inevitable. So far, the difficult decisions have been transferred to the future, but this continued to tighten the problem,” said the group of the group about the director of the IFO Institute in Dresden, Marcel Thum, and the economy Martin Werding, which the “Rheinische Post” presented.

The researchers, who created the paper on behalf of the Friedrich Naumann Foundation, suggest to abolish the pension at 63, to pair the retirement age to life expectancy, to strengthen the sustainability factor and adapt inventory pension to inflation. This is the only way to stabilize the pension insurance expenses by around ten percent of the social product by 2050, they argue.

Otherwise, the costs for statutory pension insurance could increase to more than eleven percent, warned.

“Without reforms, the contribution rate in statutory pension insurance threatens to increase from 18.6 percent to 22 percent by 2050 – with serious consequences for employees and companies,” said study author of the “Rheinische Post”. Especially the younger generations will feel this if nothing happens.

The Federal Government has announced that it is developing a sustainable pension concept, but the coalition agreement between the Union and SPD is at a pension level of 48 percent and retention of the pension at 63. This grows the cost pressure on pension insurance-exactly what the IFO researchers warn of.

The pressure to act increases. The government has to quickly find a solution that relieves future generations and at the same time secures stable pensions for today’s pensioners. The situation only tightens the problem. Otherwise the pensions are anything but safe – and that could be expensive for us.

Merz has been ruling with his cabinet Germany for almost three months. Who cuts off and who surprised? The first losers and winners are already emerging. The star-Analyze reporter Miriam Hollstein and Veit Medick who surprises positively and for whom it is going worse than expected-in our podcast “5-minute talk”:

Male metal fans often stand out through flowing manes and long beards-and thus remind of rough Vikings. But they also have big hearts, as an action on Wacken proves. Here, where the chips fork in the mud is raised to greet, you can also do good. Around two dozen hairdressers from the “Barber Angels Brotherhood” cut the hair – for a donation. “The amounts range from 10 to 200 euros,” says Lisa from the hairdressing club. “Some even left 100 euros for beard lichen.” The club is at the festival for the fifth time. Your improvised barber shop is always well attended. They serve around 50 to 100 Mosher every day.

The “Barber Angels Brotherhood” was founded in Swabia in 2016 and regularly offers needy free haircuts. Half of the Wacken visitors’ donations flow to the Wacken Foundation and the club. With the money, the club buys care products for the needy. “We are actually usually on the street or in soup kitchens,” says Lisa. There they cut homeless and other needy their hair. The donated braids of the metal fans also create wigs for children with cancer.

As a young footballer, Ömer Toprak suffered a serious fire accident. An amputation threatened. Here he tells for the first time how he fought his way back to the Bundesliga from the bedside:

How did you like this morning | Star? Please write it to me: rune.weichert@stern.de

Have a nice weekend! Warm, you