Trump's Tariff Tactics: A New Chapter in Global Trade
President Donald Trump announced impending trade pacts and higher tariffs taking effect on August 1. The move has sparked concerns of escalating trade tensions globally. Some nations, particularly BRICS members, might face additional tariffs, while the U.S. negotiates trade deals quickly to avoid tariff hikes.
Raising the stakes in the global trade arena, President Donald Trump announced on Sunday that the U.S. would finalize several trade deals imminently, while also notifying other nations of impending tariff hikes by July 9. The increased rates are scheduled to take effect starting August 1.
In a significant policy shift, Trump revealed a novel tariff approach targeting countries aligned with BRICS. Nations showing Anti-American tendencies, as per Trump's judgment, could be slapped with an extra 10% tariff.
While discussions continue with several countries, including potential deals with India and the European Union, uncertainty looms over how these tariff threats will impact ongoing negotiations.
(With inputs from agencies.)
Advertisement
ALSO READ
U.S. Races Against High Tariff Deadline to Secure Global Trade Deals
Countries which have major contributions to today's global economy not given place at decision making table: PM Modi at BRICS.
U.S. Set to Secure Trade Deals Before Tariff Deadline
Trump Addresses Texas Floods, Trade Deals, and Global Issues Amid Crisis
U.S. Rushes to Seal Trade Deals as New Tariff Deadline Looms
Google News