US Edition
Trump Plays Hardball as Tariff Deadline Looms
UNITED STATES, JUN 30 – EU Trade Commissioner Maroš Šefčovič held intense talks with U.S. officials to avert steep tariffs, aiming to reduce a baseline 10% tariff and secure sector-specific relief.
- On July 9, US President Donald Trump will reinstate high tariffs affecting multiple countries, among them the EU and Japan, as part of a tariff scheme introduced in April.
- Trump justified his tariffs by highlighting imbalances in trade, implementing an initial 10 percent duty on the majority of US trading partners, which led many nations to hasten negotiations before the new rates took effect.
- In May, a specialized trade court blocked numerous tariffs, but a federal appeals court subsequently permitted those duties to stay in place during ongoing legal proceedings, leading to further challenges.
- Treasury Secretary Scott Bessent indicated that several agreements are expected to be finalized prior to July 9, although experts believe these will likely be preliminary arrangements rather than comprehensive trade deals due to the complexities involved in negotiations.
- The outcome could include framework agreements, extended tariff pauses, or tariff surges, with Vietnam's tariff rising to 46 percent, India's to 26 percent, and Taiwan's to 32 percent without deals.
113 Articles
113 Articles
Donald Trump's deadline expires on 9 July. Until then, there should be many new trade deals, including with the EU – otherwise, horrendous tariffs will apply. The US President is already confident of victory.
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Trump's tariff deadline to have only 3 outcomes
A few days before United States President Donald Trump reimposes steep tariffs on dozens of economies, including the European Union and Japan, many are still scrambling to reach a deal that would protect them from the worst. © New Straits Times Press (M) Bhd
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