Trade Tensions Rise as Trump Announces Tariffs and Hints at India Deal

In a recent statement, President Donald Trump disclosed that the United States is nearing a trade agreement with India, alongside the implementation of new tariffs on 14 nations. During a press event at the White House with Israeli Prime Minister Benjamin Netanyahu, Trump discussed the ongoing trade negotiations and the approach of his administration. Trump highlighted completed deals with the UK and China and explained the process of sending letters to countries where deals were not possible, detailing the imposed tariffs. He conveyed flexibility in the tariffs, suggesting adjustments based on the situations, and stressed the importance of fair trade. The new tariffs, set to take effect on August 1, will impact countries including Thailand, Myanmar, Bangladesh, South Korea, and Japan. Specific tariff rates, ranging up to 40 percent, were outlined for the affected nations. The White House Press Secretary confirmed that the initial deadline for these tariffs has been moved to August 1.