Trump Tariff Announcements: Key Updates
- Trump on Friday said he will send "200 tariff letters".
- Countries can expect tariffs in the range of 15% to 50%, he added.
- The US president believes there is a "50-50 chance" of pact with EU.
- He noted that a trade deal with neighbouring Canada is currently not his priority.
The live blog session has concluded.
Trade Deal Live: US, Phillippines Signed Pact
US President Donald Trump on Tuesday said the Philippines would become an "open market" for American goods with zero tariffs, while paying a 19% tariff itself, marking what he described as a successful trade deal between the two nations.
Trade Deal Live: US And Japan's Trade Pact
Washington's agreement with Tokyo sets tariffs on the nation's imports at 15%, including for autos, which are by far the biggest component of the trade deficit between the countries.
Trade Deal Live: India's Latest FTA
India on Thursday had signed a free trade agreement with the United Kingdom, in a move that would enhance market access for various products between the nations.
The agreement will significantly reduce import duties and improve market access for goods and services on both sides. India’s average tariff on UK products will fall from 15% to 3%, easing entry for British exporters of soft drinks, cosmetics, cars and medical devices. Indian exports will also benefit from duty-free or preferential access across nearly all tariff lines.
US Trade Deal Live: Trump Considering Rebate For Americans
Trump said he is considering sending rebate checks to Americans using revenue from tariff increases his administration is imposing on US trading partners.
“We’re thinking about that actually — we have so much money coming in, we’re thinking about a little rebate,” Trump told reporters.
Source: Bloomberg
US Trade Deal Live: Bitcoin Sees Slump
Amid activity on the economic front, the Bitcoin spot rate fell over 3% to $115,629.20 on Friday.
US Trade Deal Live: Trump Says Not Focused On Talks With Canada
US President Donald Trump said trade talks with Canada are not a focus for his administration right now, and instead of negotiating a deal, he may decide to just leave existing import taxes in place.
“We haven’t really had a lot of luck with Canada,” Trump told reporters.
Source: Bloomberg
US Trade Deal Live: Smaller Countries To Get Baseline 10% Tariff
Latin American countries, Caribbean countries, and many countries in Africa are set to see a baseline tariff of 10%, said Commerce Secretary Howard Lutnick to CBS News.
US Trade Deal Live: Tariffs To Range Between 15% To 50%
President Trump stated that he does not plan to go below 15% when it comes to tariffing, and that countries can expect anywhere between 15% to 50% when it comes to reciprocal tariffs.
Source: Bloomberg
US Trade Deal Live: Trump Says Most Trade Deals Finished Right Now
The US President told reporters that most of the trade deals have been negotiated, and he expects to send close to 200 tariff letters by Aug. 1.
Source: Bloomberg
Trade Deal LIVE: 50-50 Odds Of EU-US Trade Deal, Says Trump
“I would say that we have a 50-50 chance, maybe less than that, but a 50-50 chance of making a deal with the EU,” Trump told reporters Friday. He stated that US and EU negotiators were working “closely” to strike a deal.
Source: Bloomberg
India-US Trade Deal LIVE: Most Tariff Letters Will Be Going Out By Friday
Hello, and welcome to NDTV Profit's coverage of US President Donald Trump's tariffing spree with trading partners across the world. Most of the tariff letters, if not all, will be rolled out by Aug. 1, said the President.
While the US nears a deal with China and is has a 50-50 chance of a pact with the European Union, there is no word still on a pact with India.
Stay tuned for all the latest updates on tariffs, trade deals and the President's further announcements.
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