Global Trade Tensions: Nations Seek Relief from Trump's Tariff Hike
Japan and South Korea are negotiating with the U.S. to soften the impact of increased tariffs President Trump plans to impose in August. The EU is also eyeing a trade deal before the deadline. Trump's tariffs have created instability, affecting investments and causing concerns among trade partners.
Japan and South Korea announced efforts to negotiate with the U.S. to reduce the impact of heightened tariffs set by President Trump to start from August. This move has rekindled global trade tensions.
While those nations seek a softer landing, the European Union aims to reach its own agreement with the U.S. by August 1, focusing on rebalancing trade and securing concessions for vital export sectors. Countries like the UK and Vietnam have already struck deals with Washington, while others remain watchful of further developments.
Trump's tariffs continue to stir global markets, with many fearing the long-term consequences on investments and trade stability. As countries push for negotiations, uncertainties loom large, impacting economic planning worldwide.
(With inputs from agencies.)
- READ MORE ON:
- Trump
- tariffs
- Japan
- South Korea
- trade war
- U.S.
- European Union
- Bangladesh
- negotiations
- economy
ALSO READ
Tensions Rise as U.S. Strikes on Iran Stir Global Anxiety
Escalating Tensions: U.S. and Israeli Strikes on Iran Ignite Global Concerns
U.S. Judge Grants Bail to Deported Migrant in Controversial Case
Australia Backs U.S. Strike on Iran Amidst Call for Diplomacy
Australia Backs U.S. Strike on Iran, Urges Diplomacy
Google News