Japan and India have decided to extend their negotiating delegations' talks in the US. Japanese official Ryosei Akazawa made a statement in Tokyo on his meeting with US Commerce Secretary Howard Lutnick, stating that the two countries will continue their contacts for a mutually beneficial agreement. But Trump has stated that he is not in favor of lifting the 25% tariffs on imported cars from Japan.
Some countries have made progress, others are under pressure
Taiwan announced "constructive progress" in the second round of trade talks with the US, while Canada withdrew its digital services tariffs on tech giants Meta and Alphabet in a bid to ease tensions with the US.
Trump's advisers stated that the US aims to reach an agreement with many countries by July 9 before the tariffs take effect. However, given the limited framework agreements previously reached with China and the UK, it is thought that new compromises may also fall short of offering comprehensive solutions.
Tax rates may change, Trump goes all-in
US Treasury Secretary Scott Bessent announced that about 20 countries that could not reach an agreement could continue negotiations, but in this case, tariffs could return to higher levels in April. On the other hand, if countries are deemed to be negotiating in “good faith”, tariffs could be kept at 10%.
However, on the same day, Trump made a harsher statement. The US President stated that he could set tax rates unilaterally and implement them before July 9. He also reiterated his commitment to the process, emphasizing that the US would not make separate agreements with hundreds of countries.
Comments
No comment yet.