US President Donald Trump is Set to impose a rate of 25 percent Two major US friends, Japan and South Korea, started as a self -imposed deadline for the trade agreement from August 1 for the July 9 trade agreement.
On Monday, the Trump administration told the US major trade partners in 12 letters about the new new charges that are facing them.
In a letter written by Japanese and South Korea leaders, the President of the United States said that trade relations are “unfortunately, away from the worst”.
Japanese Prime Minister Shigeru Ishiba has said that trade with the Trump administration in the discussion “will not be easily compromised”.
The United States has almost twice imported While Japan is exporting to the country, According to the data of the US Census Bureau.
Currently, there are 10 percent charges in both Japan and South Korea, like almost all American trade partners. But Trump said that if the two countries change their trade policies, they are ready to reduce the new level.
“We will probably consider the adjustment of this letter,” he said in a letter to the leaders of the two Asian countries posted on their true social platform. “If you decide to raise your rate for any reason, at any of the number you choose to increase it, we will be added to 25% of the charges.”
Trump announced a 25 percent rate on Malaysia and Kazakhstan, 30 percent on South Africa and 40 per cent on Laos and Myanmar.
The US Treasury Secretary Scott Besent said on Monday that he was expected to make many trade announcements in the next Hours in the next 48 hours. Besent did not tell which countries could get deals and what could be in them.
In April, the White House said that within 90 days, there will be trade 3 trade and rate deals. That did not happen and since then the administration strengthened two agreements – one with Vietnam and the other with the United Kingdom.
The White House’s press secretary Carolin Levit said, “There will be additional letters in the coming days.” She said that Trump would formally delay the deadline of July 9 on Monday, August 9.
BRICS stress
Trump also puts members of developing nations BRICS GROUGH GROUPS AT HIGHTS While his leader is meeting in Brazil, he aligns himself to “anti -American” policies, threatening to give an extra 10 percent rate on any BRICS countries.
If anti -American strategic actions will be implemented on individual countries, the source of the acquaintance in this case told the Reuters News Agency.
The BRICS Group includes Brazil, Russia, India and China and South Africa, and with recent joiners Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates. Trump’s comments hit the South African rand, and his price in the trade was affected by Monday.
Russia said that BRIK is “a group of countries that share a normal approach and the common world is of opinion on how to cooperate on their own interests”.
“And this cooperation in BRICS was never against any third countries and will never be,” said Kremlin spokesman Dimitri Pacekov.
European Union on the table
The European Union will not get a letter to determine the higher rates, EU sources familiar with the case told the royators on Monday.
The EU is still the objective The European Commissioner, Ursula Von Deer Lane and Trump, said a spokesman for the commission to reach the trade agreement till July 9 after the “good exchange”.
However, it was not clear whether there has been a meaningful progress in the discussion for tariff growth on the US largest business partner.
In addition to the pressure, Trump threatened to impose 17 percent on EU food and agricultural exports, emerging last week.
The European Union has torn on whether to put pressure on a quick and light trade agreement or trying to negotiate a good result. The hope of a comprehensive trade agreement was left out before the July deadline.
The spokesman said in a briefing every day, “We want to contract with the United States. We want to avoid rates.”
Without the primary agreement, the widespread US rates on most imports will increase from their current 10 percent to the rate of Trump on April 2. In the case of the European Union, it will be 20 percent.
Von Deer Layan also discussed with the leaders of Germany, France and Italy on the weekend, Germany said. German Chancellor Frederick Merz has frequently emphasized the requirements of a quick agreement to protect the insecure industries from the car to the pharmaceuticals.
Germany said the parties themselves should “allow for another 24 or 48 hours to decide”. And the country’s Auto company Mercedes-Benz said on Monday that sales of the second quarter of the car and van have declined by 9 per cent.
The market responds
The US markets have been confused over the announcement of Trump’s rates.
In New York (3: 30 :: 30 GMT), SP PD P500 declined by 1 percent till 3:30 pm and the biggest drop in three weeks. The Tech-Hewi Nasadack Composition Index was less than 1 percent, while the do Jones industrial average also fell below the entire percentage.
The Honda Motor fell by 4.1 percent to the Middle-Dupupar trade of Toyota Motor Corporation by 8.8 percent to fall US-slope shares of Japanese automotive companies. Meanwhile, the US dollar won against both Japanese Yen and South Korea.
