Close: US Trade Deal Key Highlights
On Wednesday, Trump has effectively:
Imposed 30% tariffs on Libya, Iraq, Sri Lanka, and Algeria.
Slapped 25% tariffs on Moldova and Brunei.
Announced 50% tariffs on Brazil.
With this, we come to an end of today's coverage of Trump's aggressive trade moves.
Goodnight! This live blog has ended.
US Trade Deal Live: Trump To Announces Tariffs On Brazil Soon
Trump during a meeting with African Lladers said that he will announce tariffs on Brazil either today or tomorrow. He further added that there will be more letters going out today.
US Trade Deal Live: Trump Announces 30% Tariffs On Sri Lanka
Donald Trump announced 30% tariffs on Sri Lanka through a post on Truth Social. This is in addition to the tariffs imposed on Philippines, Brunei, Moldova, Algeria, Iraq and Libya.
US Trade Deal Live: Retaliation Won't Be Taken Kindly, Stresses Trump
A notable aspect of each letter is Trump's direct threat to increase tariffs if any countermeasures are taken:
"If for any reason you decide to raise your Tariffs, then, whatever the number you choose to raise them by, will be added onto the [existing US tariff]," Trump stated in the 20 letters he's sent so far.
US Trade Deal Live: Higher Inflation May Lead To Lower Rates, Says Nomura Research Chief
Rob Subbaraman, chief economist and head of global markets research, Asia ex-Japan at Nomura, highlighted a prevalent market sentiment that the Aug. 1 deadline could be in a "classic Trump style escalate to de-escalate" scenario, potentially leading to lower tariffs.
Here's his take on the tariff conundrum.
US Trade Deal Live: Dive Deeper Into The Latest Tariffs
For more information on the latest tariffs levied by Trump on the six nations, this link's your friend.
US Trade Deal Live: Tariffs On Libya, Iraq, Algeria, Moldova, And Brunei
Here are the levies imposed on the following countries:
Libya: 30%
Iraq: 30%
Algeria: 30%
Moldova: 25%
Brunei: 25%
Source: Donald Trump/Truth Social
US Trade Deal Live: Phillippines Slapped With 20% Tariffs
Trump announced a 20% levy on the Phillippines, as per his latest Truth Social post.
India US Trade Deal Live: Full List Of Countries Facing Trump's Fresh Tariffs
Laos: 40%.
Myanmar: 40%.
Thailand: 36%.
Cambodia: 36%.
Bangladesh: 35%.
Serbia: 35%.
Indonesia: 32%.
South Africa: 30%.
Bosnia and Herzegovina: 30%.
Malaysia: 25%.
Tunisia: 25%.
Japan: 25%.
South Korea: 25%.
Kazakhstan: 25%.
India US Trade Deal Live: Apparel And Footwear Sector To See Competitive Edge, Say Exporters
India's export sectors such as apparel and footwear are expected to gain a competitive edge in the US market following Washington's decision to impose higher tariffs on over a dozen countries, including Bangladesh and Thailand, exporters said.
"India faces stiff competition from Bangladesh and Vietnam in the US garment market. High duties on Bangladesh will help enhance competitiveness of Indian products in the US market," stated an exporter.
India US Trade Deal Live: Nirmal Bang Bullish On Copper In Long-Term
Nirmal Bang's Kunal Shah commented on the 50% tariff on Copper by US, noting that China is expected to see tepid demand growth, while mines are struggling to meet environmental safety standards. Despite these challenges, he remains bullish on copper from a long-term perspective.
India US Trade Deal Live: How Copper Companies Fared
After Trump announced the imposition of a steep 50% levy on copper imports, shares of companies in the space ended starkly in the red on Wednesday.
India US Trade Deal Live: Meet The Players
Team India's chief negotiator for the trade deal is Rajesh Agrawal, Special Secretary and Commerce Secretary Designate, backed by Prime Minister Narendra Modi and Commerce and Industry Minister Piyush Goyal.
On the US front, we have Brendan Lynch, Assistant US Trade Representative for South and Central Asia as the chief negotiator, with President Donald Trump, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer completing the line up.
Want to read up on the chief negotiators? Head here.
Trade Deal Live: No Word On US-India Deal Yet
As of now, no official word has come from India on any deal, in the face of Washington’s aggressive trade reset. It is also expected that the India-US agreement may cover only goods, and leave out some of the broader contours of the trade between the two countries.
India US Trade Deal Live: US Indices Open Higher As Letters Flow
US stocks opened higher on Wednesday as sentiments eased at the Wall Street with expectations of trade negotiations with a numbering of trading partners. In the early minutes of trade, the S&P 500 was up 0.45%, whereas the tech-heavy Nasdaq Composite rose 0.55% and Dow Jones climbed 0.49%.
Catch US markets movement throughout Wednesday's trading session here.
India US Trade Deal Live: 20 More Letters In Two Days
The Donald Trump-led administration is preparing a fresh wave of trade moves, and NDTV Profit is all set to keep you updated. Welcome to another day of tracking the US President's movements on global trade, with an India-US letter at the heart of our coverage.
Commerce Secretary Howard Lutnick stated that 15–20 tariff-related letters are set to go out in the next two days, and confirmed that Trump intends to impose a 50% tariff on copper, likely by late July or August 1.
Here's our coverage from Tuesday, in case you want to brush up.
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