Reported about 11 hours ago
President Trump has announced that new unilateral tariff rates of up to 70% will be implemented starting August 1, intensifying pressure on global trade talks, particularly with the European Union. The EU is racing to secure a tentative agreement to maintain current tariffs and avoid the drastic increases Trump has threatened, amidst negotiations that are ongoing and fluid. The U.S. plans to categorize its trading partners based on negotiation progress, potentially leading to higher tariffs for those lagging behind, while seeking agreements with key partners before the July 9 deadline.
Source: YAHOO