US Trade Deal: Donald Trump says there are more announcements in the coming Wednesday; 14 countries informed so far – Times of India

US Trade Deal: Donald Trump says there are more announcements in the coming Wednesday; 14 countries informed so far – Times of India

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Donald Trump (file photo)

US President Donald Trump said on Monday that his administration will release at least seven tariff letters to trading partners on Wednesday morning, followed by more in the afternoon (local time), escalating tensions prior to the threatening deadline of 1 August for a new round of mutual rates.In a message about Truth Social, Trump wrote: “We will release at least 7 countries tomorrow morning that have to do with trade, with an extra number of countries released in the afternoon. Thank you for your attention to this issue!”The announcement follows the release of Monday letters that inform 14 countries, including Japan, South Korea and South Africa of steep import duties, ranging from 25 percent to 40 percent. So far, Trump has posted letters on Japan (25 percent), South Korea (25 percent), Myanmar (40 percent), Laos (40 percent), South Africa (30 percent), Kazakhstan (25 percent) and Malaysia (25 percent). Other countries mentioned in the tariff strategy of the administration are Tunisia, Bangladesh, Indonesia, Cambodia, Bosnia and Herzegovina, Serbia and Thailand with rates ranging between 25 percent and 36 percent.In the letters, Trump accused various governments of maintaining “non-reciprocal” commercial practices and warned that any retaliation increases would cause American tasks. “What the number you choose will also be added to the 25 percent we charge,” he wrote in similar reports such as Japanese Prime Minister Shigeru Ishiba and South Korean President Lee Jae-Myung.However, the president meant the willingness to reconsider rates if countries offer improved trade conditions. “These rates can be changed, up or down, depending on our relationship with your country,” he noticed.Trump’s aggressive tariff campaign has drawn comparisons with his earlier trade war with China, but differs in his wider sweep – which covers almost every region. While the administration calls this as a step to correct long -term trade balances and to stimulate US production, critics warn that global supply chains and voltage alliances could destabilize.The policy has already fueled sharp responses. Japanese Prime Minister Ishiba had said on the weekend that he “will not easily endanger” on trade conditions, which indicates potential resistance of important allies.In April, Trump rolled out a radical rate of 10 percent on most import and burned the ‘Liberation Day’. But after market jits, he paused enforcement for 90 days to make deals possible. Until now, only Great Britain, Vietnam and – Tentative – China have made limited regulations with Washington.The coming days are expected to be crucial. Trump has promised that most countries received or official correspondence or completed agreements by 9 July.


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