Donald Trump this week strengthened his trade rhetoric, sending more than 20 letters to the administration outlining the new tariff rates if a deal is not reached before August 1.
In April, Trump announces The basic tariff rates and additional tariffs ranged up to 50% in many other countries, although he later delayed the effective date of all liability until July 9 after the market panic.
Trump officials initially suggested they would reach dozens of deals with major economies by the July 9 deadline, but with the 90-day pause ending this week, the president announced a series of new interest rates in various countries but delayed its implementation until next month.
What happened:
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trump card Informed Powerful Country Suppliers Japan, South Korea and many other countries At the beginning of this week, they will face at least 25% tariffs starting in August unless they can negotiate a deal quickly.
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On Wednesday, he announced his confrontation with countries such as the Philippines, Sri Lanka and Algeria as well as 50% tariff on products from Brazilto move with his so-called “witch hunting” trial against its former president, Jair Bolsonaro. Trump criticized Bolsonaro for trying to overturn his 2022 election losses. Brazilian President Luizináciolula da Silva, Threat to fight back Reciprocal tariffs on U.S. goods are 50%.
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On Thursday, Trump announced that the United States will 35% tariff is imposed on imports from CanadaDespite ongoing negotiations and Prime Minister Mark Carney’s decision last month to cancel the digital services tax, the tax faces criticism from the U.S. president. Carney said his administration will continue to defend Canadian workers and businesses in negotiations and work towards the August 1 deadline.
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Trump also said on Thursday that it will send it to the EUthe largest trading partner of the United States, “today or tomorrow”. Last week the EU and we were End the Advanced “Framework” Trade Agreement This will avoid a 50% tariff on all group exports.
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this Steep tariff rates announced throughout the week from 25-50%due to some of the toughest taxes imposed on developing countries in Southeast Asia, including 32% in Indonesia, 36% in Cambodia and Thailand, as well as Laos and Myanmar, which were imposed on many years of civil war.
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In his First official visit to AsiaU.S. Secretary of State Marco Rubio attempts to assure Washington of regional powers they promisedsaid countries may get “better” trade deals than the rest of the world. Before Rubio arrived in Kuala Lumpur, Malaysian Prime Minister Anwar Ibrahim condemned the tariffs at the opening of the ASEAN Foreign Ministers’ Meeting.
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Trump also vows to impose the highest tariffs 200% foreign medicine, 50% copper. Copper price Record After the announcement in the United States.
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Treasury Secretary Scott Bessent said he expects several trade announcements this weekbut so far, the United States has only reached two deals with its trading partners. this First in the UKsigned on May 8, includes tariffs on most British goods, including zero tariffs on cars, steel and aluminum. second Deal with Vietnam Last week, that set a 20% tariff on most of its exports, and although all details are unclear, no text was released.
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Trump said Thursday that tariffs were “very popular”. and added that the stock market “had reached a new high today.”
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Global stock markets are largely free from the latest threats. Analysts say traders are now expecting a deal or another delay, while investors appear to be waiting until a deal or tariffs begin.
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A wellness enthusiast and certified nutrition advisor, Meera covers everything from healthy living tips to medical breakthroughs. Her articles aim to inform and inspire readers to live better every day.
