- Trade Deal with South Korea: President Trump announced a trade deal with South Korea, which includes a 15% tariff on imports from South Korea while exempting the US from tariffs. The deal promotes open trade, allowing for the import of American products, including cars, trucks, and agricultural goods.
- Increased Tariffs on Other Countries: Trump threatened a 25% tariff on goods from India and implemented a 50% tariff on semi-finished copper products and imports from Brazil. Additionally, he ended the de minimis exemption, applying tariffs to low-value imports valued at or under $800.
- Ongoing Trade Negotiations: While the US and China concluded another round of trade talks in Sweden with progress reported, no immediate tariff delays were announced. Meanwhile, negotiations with the EU are in a rush to finalize a new trade deal, facing criticism from European leaders regarding its adequacy.
Source Yahoo Finance
