US Tariffs and Trade Negotiations

US President has announced a 25% tariff on imports from Japan and South Korea, effective August 1. This is part of a broader strategy to pressurize trading partners for better trade deals. The reciprocation tariff pause ends on July 9, with only two agreements reached so far with Britain and Vietnam.

Key Announcements and Tariff Details

• Japan's tariff rate is 1% higher than initially announced, while South Korea's remains at the same level as announced on April 2.
• Trump has kept reciprocal tariffs capped at 10% until July 9 to facilitate negotiations.

Trade Negotiations with India

The US has extended the negotiation deadline with India to August 1. Indian officials are negotiating a mini trade deal focusing on goods, excluding contentious items like agriculture and services.

• Agriculture remains a major sticking point due to India's rigid stance.
• The interim deal is likely to involve only goods.

US Strategy and Pressure Tactics

US Treasury Secretary emphasized applying maximum pressure to accelerate trade negotiations. The strategy has helped bring significant partners such as the European Union to the table.

• The August 1 deadline serves as an "outer limit" for negotiations.

Outlook and Future Announcements

Several trade deals are nearing completion, with major announcements expected soon. 

• White House Press Secretary confirmed the close relationship and ongoing negotiations with India.