What is next for global trade as Trump’s July 9 tariff deadline looms?
Summary
President Trump set a July 9 deadline for countries to make trade deals with the US or face higher tariffs. Only China, the UK, and Vietnam have reached agreements to lower some tariffs temporarily, while other countries hurry to negotiate before tariffs increase.Key Facts
- President Trump set a July 9 deadline for new trade deals or higher tariffs.
- If no deal is reached, tariffs on certain countries could increase starting August 1.
- Only China, the UK, and Vietnam have made temporary agreements with the US so far.
- Under the US-China deal, tariffs on Chinese goods reduced from 145% to 30%.
- The UK maintains a 10% tariff, while Vietnam's tariffs were adjusted to 20% and 40% for different products.
- Other countries like the EU, Canada, India, Japan, and South Korea are still negotiating.
- Trump suggested tariffs could rise to 70%, higher than his original 50% plan if no agreement is reached.
- An additional 10% tariff may apply to countries with BRICS that follow "anti-American policies."
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
