US President Donald Trump is pushing through with his tariff agenda, unveiling a new batch of letters to another nine country leaders outlining tariffs on goods imported from their countries beginning August 01.
Altogether, 23 countries have been notified:
As markets focus on US talks with key partners on possible deals, here is where things stand:
Vietnam: Trump said a deal with Vietnam will see the country's imports face a 20% tariff – lower than the 46% he had threatened in April. He also said Vietnamese goods would face a higher 40% tariff "on any transshipping" – when goods shipped from Vietnam originate from another country, like China.
According to reports, Vietnam's leadership was caught off guard by Trump's announcement last week that it agreed to a 20% tariff and is now seeking to lower the rate.
European Union: The EU have signaled they are willing to accept a 10% universal tariff on many of their exports but are seeking exemptions for certain sectors. They are pushing and rushing to clinch a deal.
India: Trump's tariffs on Brazil have raised the stakes for India, another member of the BRICS coalition. Bloomberg reported that the countries are working toward a framework deal that could see US tariffs on goods from India drop below 20%.
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