US President Donald Trump 90-day tariff break He points out next week – and his administration did not ask too much victories at the agreements. In fact, his administration presented only one trading with greatness before 9. July, when the so-called reciprocal tariffs are made.
On Tuesday, Trump told reporters He was not interested in extending the deadline to allow more time to negotiate and will soon send letters that announce the tariff rates of “a lot of countries”.
However, administration officials are publicly hoping to present more offers in the coming days, with US Secretary Howard Lunnick Proposing last week If there were 10 offers ready to go. (He did not determine which countries are willing to sign the trade business.) Kevin Hassett, director of the National Economic Council, recently said that trade contracts could be published after the holidays from 4. July.
2. April, Trump Slapped Steep Tariff On the rest of the world, then pauses them a week later to allow time to negotiate. U.S. Trade Partners spent in the last three months in Frantic Negotiations trying to reduce these tariffs – but from now on, a little to show for it.
So far, the administration has arranged trade with the United Kingdom and “Trade Agreement” with China (which only brings tariffs back to their “Level” Day
Just a week until Tariff returns, here is where things are in the trade negotiations of Asia with Washington.
Japan
Talks between the US and Japan hit the roadblock: Trump imposing steep 25% tariff on cars. The Japanese car industry is the fourth largest In the world, contributing almost 3% of GDP in the country and employing one in eight people. The United States is the largest Japanese car export market, Redemptions third its total production.
Automatic tariffs are “not something we can accept”, the main negotiator of Japan Riaii Akazawa told reporters Last Thursday. Without a resolution on automatic tariff, Akazawa said negotiations “remained in the fog. ”
Japan is also facing 24% tariff on its exports, as well as 50% tax on steel and aluminum.
Still, Trump seems especially annoying about Japan and his long-term trade tall with the US on Sunday He complained that One-sided car shop was “not fair”, proposes that Japan buys more American oil to close the gap of the deficit. Reiterated his appeals on Tuesday, By calling Japan “Hardly” and “spoiled” journalists.
South Korea
South Korea hopes that all American tariffs will be released, including 25% of reciprocal tariffs on its exports, as well as 25% tariffs on cars and 50% tariffs on steel and aluminum.
Korean leader on leadership, Ieo Han-Koo, met with Lunnik and the American Greer Jamissian Provision to start negotiations last Monday. All parties confirmed their commitment soon agreeing agreement and behaving the American Ambassador in South Korea, Joseph Yun, said that last week A new free trade agreement (FTA) between South Korea and the US can be in works.
Trade is the first major challenge to face the newly elected South Korea President, Lee Jae-Miung, who took office at the beginning of this month after interrupting in the elections. In his Inaugural addressLee called “growing protectionism” threat “by our survival.”
Korean negotiators do not look optimistic that they will meet within 9. July, with Senior Korean official reporters talking about journalists Monday Seul will try to seek extension.
India
And now India had expressed initial optimism To be able to reach a trade agreement, and India is one of the first countries to start negotiations with the USin April. However, no agreement has been announced from now on. India is currently facing 26% “reciprocal” tariff on its export in the USA
Indian officials are supposedly hesitating To lower their own tariffs on agricultural products, which would allow us to US products to the market. Agriculture is India The largest employment sectorWith almost half of the population working on agriculture.
India also hopes to benefit from the supply chains moving from China. Companies love Apple and Fokconn invest investment In Indian factories, they both diversify their supply chains and potentially avoid American tariffs on Chinese goods. Still, Trump criticized Apple’s attempts to make iPhones in India instead Demanding smartphones be made in the US
Still, the American president said he was remains optimistic to come a deal. He suggested that he would soon be “able to compete and competes in India soon. If the new Delhi opens its market, “We will have a deal for a much less tariff,” he said.
Southeast Asia
The countries of Southeast Asia received numerous oldest tariffs 2. April, and some achieved as much as 49%. Several countries in the region relies on American exports for growth, encourage haste to leaders to offer concessions, promising to increase their own import of American goods to try to arrange with Washington.
Vietnam Prime Minister Pham Minh Chinh said Last week, it is convinced that a “positive” trade agreement can be made in the US before the deadline. (Vietnam is currently facing 46% of tariff on her American exports.)
Indonesia and Malaysia– Whoever is a 32% and 24% tariff rates, respectively expressed optimism that they can conclude negotiations before the tariff break expires next week.
Thailand is less sure of the status of his trade negotiations. Thai Minister of Finance, Pichai Chunhavajira, arrived in the US Monday to discuss the conversations in person and said he was hope of these conversations will be extended 9. July.
