U.S. President Donald Trump calls connected a newsman during a gathering with Philippine President Ferdinand Marcos Jr. successful the Oval Office astatine the White House connected July 22, 2025, successful Washington, D.C.
Chip Somodevilla | Getty Images News | Getty Images
Come Friday, the satellite volition person to contend with higher tariff rates from the Trump administration, raising the specter of adjacent much economical uncertainty.
For astir countries, that tin of worms has been kicked doubly down the road, from "Liberation Day" connected April 2, to July 9, and present to Aug. 1.
Back successful April, Trump had claimed to person done "over 200 deals" successful an interrogation with Time Magazine, and commercialized advisor Peter Navarro had said that "90 deals successful 90 days" was possible. The state has fallen acold abbreviated of that, with lone 8 deals successful 120 days, including 1 with the 27-member European Union.
Here are wherever things basal successful planetary trade.
UK archetypal to a deal
The U.K. led the complaint connected trade agreements with the U.S., striking 1 arsenic aboriginal arsenic May. The model includes a 10% baseline tariffs connected U.K. goods, arsenic good arsenic assorted quotas and exemptions for products specified arsenic autos and aerospace goods.
But adjacent aft U.S. President Donald Trump met with Prime Minister Keir Starmer successful Scotland recently, immoderate points successful their commercialized statement stay uncertain. That includes tariffs connected U.K. alloy and aluminum, which the U.S. agreed to slash. Talks astir the U.K.'s integer services tax, which Trump wants scrapped, besides look to beryllium continuing.
Vietnam: tariffs much than halved
Vietnam was the 2nd to transverse the enactment with the Trump administration, with Trump announcing a commercialized statement connected July 2 that saw the tariff imposed connected Vietnam slashed from 46% to 20%.
One constituent with Vietnam was a 40% "transshipping" tariff connected goods originating successful different state and transferred to Vietnam for last shipment to the U.S, though it is not wide however this volition beryllium applied. Trump besides claimed that determination would beryllium afloat marketplace entree to the state for U.S. goods.
Chinese manufacturers person utilized transshipping to sidestep the hefty tariffs connected its nonstop shipments to the United States, utilizing Vietnam arsenic a large transshipment hub.
However, it seems that Vietnam was blindsided by the 20% complaint imposed, according to a study by Politico. Politico said negotiators had expected a 11% levy, but Trump unilaterally announced the 20% rate.
Indonesia: bringing down barriers
Indonesia's tariff complaint was cut to 19% from 32% successful its statement with Trump, announced connected July 15.
The White House said Indonesia volition destruct tariff barriers connected implicit 99% of U.S. products exported to Indonesia crossed each sectors, including cultivation products and energy.
The model besides says the countries volition besides code assorted "non-tariff barriers" and different obstacles that the U.S. faces successful Indonesian markets.
Philippines: marginal decrease
Unlike its ASEAN counterparts above, which had sizable reductions to its tariff duties, the Philippines saw a alteration of a azygous percent constituent to 19% from 20% connected July 22.
Manila volition not enforce tariffs connected U.S. goods arsenic portion of the agreement, according to Trump, who praised the state for what helium described arsenic "going OPEN MARKET with the United States."
In addition, Trump besides said that the Philippines volition enactment unneurotic "Militarily," without specifying immoderate details. The 2 countries are already pact allies, with Manila hosting U.S. troops and having a communal defence pact going backmost to 1951.
Japan: atom and autos
Japan was the 2nd large Asian system to come to an statement with the U.S. aft China, seeing its tariff complaint chopped to 15% from 25% connected July 23, and being the archetypal system to spot a little preferential tariff complaint for its cardinal automobile sector.
Trump called the statement "perhaps the largest Deal ever made," portion adding that Japan would put $550 cardinal successful the United States and the U.S. would "receive 90% of the Profits."
The way to this statement was fraught with uncertainty, with Trump saying days earlier the statement that he did not expect the 2 countries to scope a deal.
He described Japan on abstracted occasions as "very tough" in commercialized talks and suggested the state was "spoiled" for not accepting U.S. rice despite facing a domestic atom shortage.
EU: immoderate discontent remains
The European Union's statement with the U.S. was struck conscionable days ago, aft agelong negotiations. EU goods are present facing a 15% baseline tariff rate, fractional the 30% Trump had antecedently threatened the bloc with. Existing duties connected autos volition beryllium reduced to 15%, and levies connected immoderate products similar craft and definite cause generics volition spell backmost to pre-January levels.
But the woody has been met with criticism, including from immoderate European leaders. French Prime Minister Francois Bayrou went arsenic acold arsenic saying it was an enactment of "submission" and a "dark day." EU Trade Commissioner Maros Sefcovic, however, called it "the champion woody we could get nether precise hard circumstances."
South Korea: besides astatine 15%
South Korea is the latest state to scope an agreement, connected Thursday, with the presumption being somewhat akin to the 1 Japan received.
The state volition spot a broad 15% tariff connected its exports, portion duties connected its car assemblage are besides lowered to 15%. South Korea "will springiness to the United States $350 Billion Dollars for Investments owned and controlled by the United States, and selected by myself, arsenic President," Trump said.
U.S. Commerce Secretary Howard Lutnick said "90% of the profits" from that $350 cardinal concern volition beryllium "going to the American people."
However, South Korean President Lee Jae Myung said the $350 cardinal money volition play a relation successful facilitating the "active entry" of Korean companies into the U.S. marketplace into industries specified arsenic shipbuilding and semiconductors.
China: talks inactive ongoing
The Trump administration's commercialized talks with China has taken a antithetic tack than the remainder of the world. The world's 2nd largest system was firmly successful Trump's commercialized crosshairs from the infinitesimal helium took office.
Rather than a deal, China has reached a bid of suspensions implicit its "reciprocal" tariff rate. It was initially deed with a 34% tariff from "Liberation Day," earlier a bid of back-and-forth measures betwixt the 2 sides saw the duties skyrocket to 145% duties for Chinese imports to the U.S. and 125% for U.S. imports to China.
However, some sides agreed to reduced tariffs successful May, aft their archetypal commercialized gathering successful Geneva, Switzerland. The truce was agreed to past till Aug. 12. China presently faces a 30% combined tariff rate, portion the U.S. is looking astatine 10% duties.
The countries' astir caller gathering successful Stockholm ended without a truce extension, but U.S. Treasury Secretary said that immoderate truce hold volition not beryllium agreed to until Trump signs disconnected connected the plan.
For countries without a deal, it appears that a higher global baseline tariff of astir 15%-20% volition beryllium slapped connected them, according to Trump, higher than the 10% baseline announced connected "Liberation Day."
Countries with a commercialized surplus with the U.S. volition astir apt spot a higher "reciprocal" tariff rate.
Here are immoderate cardinal trading partners that person not agreed to a woody with the U.S.
India: tariffs and a penalty
On Wednesday, Trump announced a 25% tariff connected India, with an further unspecified "penalty" for what helium views arsenic unfair commercialized policies and for India's acquisition of subject instrumentality and vigor from Russia.
"While India is our friend, we have, implicit the years, done comparatively small concern with them due to the fact that their Tariffs are acold excessively high, among the highest successful the World," Trump said successful a station connected Truth Social.
The 25% tariff complaint is modestly little than what Trump imposed connected India connected "Liberation Day," erstwhile helium announced a 26% complaint connected the cardinal trading partner, but astatine the precocious extremity of the 20%-25% range that the U.S. president said helium was considering.
Canada: an 'intense phase'
There has been predominant back-and-forth betwixt Canada and the U.S. implicit tariffs successful caller months, with the state being deed by duties even before Trump announced his alleged "reciprocal" tariffs.
Canada is now facing 35% tariffs connected assorted goods from Aug. 1, with Trump besides threatening to summation that complaint successful lawsuit of retaliation. The complaint is abstracted from immoderate sectoral tariffs.
Trump has repeatedly cited drugs flowing from Canada to the U.S. arsenic a crushed for his determination to enforce tariffs. Canadian Prime Minister Mark Carney said earlier this week that the partners were successful an "intense phase" of talks, noting that it would beryllium improbable for an statement not to see immoderate tariffs, Reuters reported.
Mexico: nary motion of progress
Like Canada, Mexico has also long been a U.S. tariff target, with Trump citing drugs and amerciable migration arsenic factors successful his determination to denote levies connected the U.S.' confederate neighbor.
The president has said that Mexico has not done capable to unafraid the border. Mexico is set to beryllium hit with a 30% tariff, with immoderate retaliation acceptable to beryllium met with an adjacent higher complaint from the U.S.
The Mexican authorities has stressed that it is important for the trading partners to resoluteness their issues up of Aug. 1, but determination person not been galore signs of advancement toward an statement successful caller weeks.
Australia: sticking to the baseline
Australia presently faces the baseline 10% arsenic it runs a commercialized shortage with the United States. However, the state could beryllium facing a higher tariff complaint if Trump decides to rise his baseline complaint to 15%-20%.
Canberra has not been publically known to beryllium successful commercialized talks with Washington, with Prime Minister Anthony Albanese reportedly arguing that Australia's shortage with the U.S. and its escaped commercialized statement should mean determination should beryllium nary tariff connected Australian imports.
Most recently, Australia relaxed restrictions connected U.S. beef, a determination which the bureau of the U.S. commercialized typical credited to Trump, but Albanese had reportedly said the determination was not prompted by Trump.