US President Donald Trump on Monday A pause extended On August 8, when sending “tariff letters” to some countries, to some countries, they will be subject to a new rate rate if they fail to deal with the United States due to the new deadline.
What is going on with Trump’s parsper rate and what letters of his rates say:
What did Trump declare?
On Monday, the White House had signed the executive order to pause the tariff by Trump.
The pause will originally end on Wednesday, July 9. “Liberation” The rates he initially announced on April 2. However, Trump A Give a 90-day pause During this period, on April 9, on the rates of large interaction, many US business partners faced 10 percent at a rate of 10 percent.
Which countries have to deal with renewal rates?
The White House lists 14 countries in which Trump sent the rate letters on Monday. If the trade agreement with the United States fails to August 1, these countries face these new rates.
There are renewal rates for these countries announced on Monday:
- Japan: 25 percent on April 2, 24 percent.
- South Korea: 25 percent on April 2, 25 percent.
- South Africa: 30 percent on April 2, 30 percent.
- Kazakhstan: 25 percent on April 2, 27 percent.
- Laos: 40 percent on April 2, 48 percent.
- Malaysia: 25 percent on April 2, 24 percent.
- Myanmar: 40 percent on April 2, 44 percent.
- Tunisia: 25 percent on April 2, 28 percent.
- Bosnia and Herzgovina: 30 percent on April 2, 35 percent.
- Indonesia: 32 percent on April 2, 32 percent.
- Bangladesh: 35 percent on April 2, 37 percent.
- Serbia: 35 percent on April 2, 37 percent.
- Cambodia: 36 percent on April 2, 49 percent.
- Thailand: April 2, 36 percent, 36 percent.
The rates announced by Trump on April 2 for South Africa, South Korea, Thailand and Indonesia are the same.
Malaysia and Japan have a 25 percent rate, with a 2 percent increase in the rate of 24 per cent announced on April 2.
But Trump has targeted most countries in Kazakhstan, Laos, Myanmar, Tunisia, Bosnia and Herzovina, Bangladesh, Serbia and Cambodia on Monday.
What is the letter of Trump’s rates?
Trump posted the rate letters sent to the leaders of 14 countries on his true social platform on Monday.
In these letters, he expressed concern over the imbalance of trade in the US and countries. Trump said the companies that have moved their production to the United States would be exempted from the price. But they also took a danger: If the countries apply revenge rates, they may still face higher rates from the United States.
And he kept the rate of change in rates. Trump ends all his letters with this: “These rates can be modified depending on our relationship with our country.
Why is he threatening BRICS?
Trump on Sunday BRICS Block also threatened With the additional rates after the block, indirectly criticized the US trade war during the 17th Summit in Brazil, and criticized Iran’s recent military attack.
Trump wrote on the truth social, “Any 10% rate will be charged on any country that aligning himself with BRICS’s anti-US policies.”
BRICS is named for the founding members of Brazil, Russia, India and China and South Africa who joined a year later. But other countries like Indonesia, Egypt, Iran, Ethiopia and the United Arab Emirates have been included.
How many deals have already been in the United States?
During the 90 -day breaks, the United States signed a contract with two businessmen – United Kingdom and Vietnam.
The first deal was secured between the US and the UK on May 8, set 10 percent rate On the export of UK in the United States. The agreement states that the first 1,5,3 vehicles imported from the UK to the United States every year will have to face a rate of 5 percent, which is less than 5.5..5 percent. Additional vehicles imported every year have to face 25 percent rates.
On July 2, Trump announced that he made a secure Deal with VietnamWho now have to deal with the least 20 percent rate In exchange for opening your market until the United States. Transpies from third countries from Vietnam will have to face 40 percent, while US products will not have to face any rate in Vietnam. The specific details for this agreement are unclear. On April 2, Trump had announced 4 % rate on Vietnam.
When the pause was first announced, the Officers of the Trump administration had indicated that Washington was looking for a large number of trade deals. White House Trade Advisor Peter Navaro told the Fox Business Network in April, “We are going to run deal 3 deals within 3 days. This is possible.”
In the meantime and now, Trump expressed disappointment About possible trade agreements with some of the United States partners. Trump told reporters on July 7, “We have dealt with Japan. I am not sure whether we are going to make any agreement, I doubt Japan.
Officials of the Trump Administration officials have indicated that the stop-gap’s India and possibly the European Union deals may be close.
What is the reaction of Trump’s renewal rates?
Japan and South Korea said on Tuesday that they will try to deal with Trump to reduce the impact of US prices on the US economy.
Japan’s main trade negotiations and economy Minister Royce Akazawa said at a press conference on Tuesday that he was looking for concessions for Japan’s vehicle industry but would not compromise on the agricultural sector. This is what Japan considers the negotiations of trade in the United States.
“There is no point in contracting the United States without contracting on automobile prices,” Akazawa said.
Agriculture sector for the Japanese Prime Minister is traditionally important voting group Shigeru IshibaElections in the Liberal Democratic Party and Japan’s Parliament will be held on July 20.
Akazawa said that he had talked to American Commerce Secretary Howard Lutnik and agreed to continue negotiations.
“The two countries should gain trust in honest communication and reach the step -by -step. Through such a process, my work as a negotiator agree on the full package as soon as possible,” Akazawa said.
According to the Observatory of Economic Complexity (OEC), the US has the largest export market in Japan.
Japan’s gross domestic product (GDP) alone contributed about 1 percent by Japanese automobile exports in 2023.
South Korea also said that trade with the United States will increase.
“We have planned to use it as an opportunity to reform home systems and rules to solve the trade deficit of the US,” the Ministry of Industry and Energy, South Korea, said on Tuesday.
On the contrary, in a statement published by South African President Cyril Ramafosa on Tuesday, Trump criticized the per centment rates imposed by Trump in his country.
“South Africa says that percenct is not a precise representation of the available trade data available. “In our explanation of available trade data, the average rate of imported rates in South Africa is 7.6 percent.”
The statement states that 77 per cent of the US goods enter the South African market under percentage of duty.
“South Africa will continue with diplomatic efforts with the United States with a diplomatic and mutual beneficial trade relationships. We welcome the US government’s commitment that 30 percent of the rates are subject to change behind the end of our negotiations with the United States.”
In recent months, tensions between the US and South Africa have increased.
At a meeting with Ramfosa at the White House by the end of May, Trump accuses Of South Africa’s “Men” against white AfricanistsThe claim rejected by Ramfosa and it has been widely defamed.
In early May, white South African flight Made in the US As part of the rehabilitation plan created by the Trump administration.
What is the reaction of the markets?
On Monday, the US stocks fell down based on three major index.
Do Johns industrial average dropped by 0.94 percent; SP PD P500, which tracks the stock performance of 500 leading American companies, fell 0.79 percent; And the nasadac composit fell 0.92 percent.
What are the upcoming dates of rates?
The upcoming dates, the significant, important, the trade war are to be found:
- July 9: This is the original White House deadline when the trade deals with the United States need to be reached or reaching big rates. Trump and his team are expected to announce rates for many countries in accordance with the expiry of that deadline. Trump has signed a contract by the US and the European Union to remove 50 percent of the European Union imports.
- July 14: April April, was announced by the European Union that it would impose aquatic prices on the US against the US rate on the European Union steel and aluminum imports. However, when Trump announced a 90-day pause for mutual rates, the union announced the 90-day pause for the redeemable rates. On July 14, the 90-day pause announced by the European Union will end.
- August 1: This is when the United States will apply for increased redevelopment rates imposed on its trade partners, if this country fails to trade with the United States.
