Trump's Tariff Tango: High Stakes in Global Trade Negotiations
U.S. President Donald Trump has delayed higher tariffs on Mexico for 90 days to negotiate a trade deal, avoiding a 30% tariff on most Mexican goods complying with USMCA. Meanwhile, the U.S. continues to levy high tariffs on other countries amid ongoing global trade talks, with South Korea reaching a new agreement.
In a pivotal move, U.S. President Donald Trump has granted Mexico a temporary reprieve from looming tariffs, allowing a 90-day window to negotiate a broader trade agreement. This grace period averts a substantial 30% tariff on a significant portion of Mexican exports under the USMCA guidelines.
While Mexico finds temporary relief, other nations brace for Trump's unwavering tariff policies. South Korea has navigated to a consensus by agreeing to a moderated 15% tariff on their goods, curbing the initial 25% threat. In contrast, India faces impending tariffs due to stalled negotiations tied to agricultural sector access and Russian oil purchases.
As the deadline nears, Trump's broader strategy remains under scrutiny, particularly his invocation of emergency powers to justify sweeping tariffs, sparking legal challenges. With key talks still ongoing, especially with China, the economic diplomacy web continues to expand.
(With inputs from agencies.)
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