Trump Trade Deals Give Some Countries Tariff Reductions

But there were a few deals – six, precisely (seven if you calculate temporary materials with China on the definitions that the two sides continue to negotiate). The European Union was the latest to sign, with Trump’s president and European Commission President Ursula von der Lin announced an agreement in Scotland on July 27.

New tariff rates on the basis of White House deals

Many of these agreements were concluded through mono -side ads, either from the White House or Trump directly on its social media platform (although the countries or governments concerned have recognized the deal alongside it). These binding official agreements do not seem, unlike the United States, Mexico and Cananga Convention, which were believed by the three countries. The European Union described its deal as a “political agreement”, and multiple countries including the Philippines and the United Kingdom referred to in its statements that more negotiations on specific products and sectors will continue – to arm space for additional differences or disputes.

The vast majority of countries still face the overwhelming tariffs that Trump sought to impose on April 2, and for clarity, we used these customs tariff rates – even although Trump threatened in some cases a higher tariff in the period. Another warning is that these numbers are not always specific or comprehensive. The administration said that the American definitions on steel, for example, will be negotiated separately, and that the tariff rates below have some additional exemptions that we will explain more.

However, here is everything we know about the commercial agreements that have been secured so far.

European Union

According to the deal announced on July 27, most of the commodities from the European Union entering the United States will now face a flat tariff of 15 percent. This is just less than 20 percent of Trump imposed on April 2, but half of the 30 percent average he included in the July 11 message to Von de Der Leyen and part of the 50 percent tariffs he threatened in late May.

Washington and Brussels will give each other a complete break on some commodities, with a zero tariff on both sides of the products including aircraft components, semiconductor equipment, some agricultural products, and some general medications.

The European Union will also purchase $ 750 billion of US energy products (including oil and natural gas) over the next three years. The White House Facts newspaper also says that the European Union “will make new investments worth $ 600 billion in the United States” by 2028,; However, the European Union’s reality journalist states in a different way, saying instead that “European Union companies have expressed interest in investing at least $ 600 billion (550 billion euros)” in various American sectors by 2029.

The tariff of 50 percent of Trump remains on the steel and which came into effect last month in place, although von der Layen proposed the “quota system” instead of the tariff that both sides will continue to discuss.

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Japan

The United States is dealing with Japan, which unveiled the White House a few days before the announcement of the agreement with Europe, and follows the same perimeter of the European Union. Japanese goods that enter the United States will face a 15 percent tariff, less than 24 percent imposed on April 2 and 25 percent in Trump’s message on July 7 to Japanese Prime Minister Shigro Eshiba. There were no official Japanese readings of the deal, although many officials, including Ishiba and the main commercial negotiator, Riosi Akazawa, publicly recognized its existence. Akazawa told reporters on July 29 that Tokyo was waiting for Trump to give the official character to an average of 15 percent in an executive order, “Then we can think about whether an official document on the agreement was necessary.”

Japan will also transfer more money to the American economy as part of the deal, according to the White House fact newspaper, where it invests $ 550 billion in sectors such as energy, pharmaceutical preparations and shipbuilding. However, the fact paper did not include a schedule for the time of this investment. The White House said that investments will be spread in some major sectors, including the manufacture of semiconductors, critical minerals and shipbuilding, adding that the United States will retain 90 percent of the profits of these investments.

The deal also includes many major privileges of American agricultural commodities that enter Japan, with the increase in Japanese American rice purchases (a specific group of Trump) by 75 percent and 8 billion dollars of planned investment in goods such as corn and soybeans.

The White House said that Japan will buy 100 commercial aircraft from the American manufacturer Boeing and open the car market to American car makers.

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Philipini

This came in the form of a social function on July 22 at the end of the Philippine President Ferdinand Marcus Junior to Washington, with Trump’s announcement that the Philippines will pay a 19 percent tariff for all its exports to the United States and praised Marcus as “a very good negotiating, and difficult,”.

The final tariff rate is actually a boy higher than 17 percent imposed by Trump on April 2, but a touch less than 20 percent mentioned in his message to Marcus on July 9. The Philippines said that it will not impose any tariff on American cars entering the country and will increase their purchases of American soy products, a cattle, and a pharmaceutical official.

Marcus sought to sell the deal to his people. “We have been able to reduce the rate of tariff by 20 percent for the Philippines to 19,” said to the Philippine media delegation in Washington. “Now, 1 percent may seem like a very small concession. But when you put it in real terms, this is a great achievement.”

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Indonesia

Also on July 22, hours after Trump’s meeting with Marcus, the Trump administration announced that it had reached a similar organized deal with Indonesia.

The deal also strikes Indonesia with a 19 percent tariff, a 32 percent decrease in the Trump rate in the country of Southeast Asia. On the other hand, Indonesia will remove commercial barriers to almost all American goods and open its market to agricultural exports and American technology companies.

According to the White House Facts newspaper, Indonesia has also adhered to remove many “non -fire barriers” for American goods, including that it will now honor the standards of American car safety and emissions, accept American food and drug management certificates for medical devices and pharmaceutical preparations, and to exempt American cosmetics from the requirements of the Indonesian certificate.

The Indonesian government described the agreement as a great victory, as a government spokesman proud that the customs tariff rate is among the lowest rates in Asia and narrates the fact that it came days after a trade agreement with the European Union.

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Vietnam

“I just entered into a commercial deal with Vietnam. Details that must be followed!” Trump suddenly posted on the social truth on July 2. Details, common to a later post, is that Vietnam will drop all commercial barriers against American goods, with Trump specifically SUVs as a “great addition to different production lines within Vietnam”.

He said that Vietnam will pay a 20 percent tariff for all its goods that enter the United States, less than half of the 46 percent rate imposed on the country on April 2. However, Vietnam will also pay a 40 percent increasing tariff on any transportation of products via Vietnam, referring to the goods that stop in the Vietnamat ports before continuing its final destination in the United States.

The Vietnamese government was the most conservative in recognition of the Trump deal, according to what was reported because Vietnam was supported by some aspects of the declared tariff rates. The state -run Vietnamese media reported that the two countries “reached a joint statement on a mutual and balanced commercial agreement”, but none of the government publicly participated in this statement or any details of the deal that exceeds social media’s participation in Trump.

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UK

It was the first new trade agreement for Trump with one of the oldest and closest allies in Washington. The United States and the United Kingdom announced its deal on May 8, including the opening of the UK Agricultural Export Market such as beef and ethanol.

The customs tariff for UK products that enter the United States in the foundation line will remain 10 percent for all countries that were identified on April 2, with a slight modification of the UK car factories, which only gets this rate of the first 100,000 vehicles they export to the United States and identify 25 percent after that. The White House also said that it would create a new union for trading with the United Kingdom for steel and aluminum and negotiates a separate deal on the definitions that Trump imposed on all imports of minerals – and later doubled.

Negotiations on fine points-the governments of the United States and the United Kingdom have issued updates on the deal in mid-June, indicating US tariff cuts on UK car exports and obligations in the United Kingdom over American agricultural products.

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China

As during his first term in office, Trump’s largest fist – and the highest definitions – for China. Trump slapped a successive set of customs tariffs on Chinese goods in April, which eventually rose to 145 percent, but a temporary agreement last month reduced the customs tariff in the United States to 55 percent, in exchange for China raised the revenge restrictions that it imposed on exporting some rare minerals. Talks continue on a broader and more permanent deal, with the meeting of trade negotiators from both sides in Sweden this week to ignore additional details.

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India

One country was not intensive negotiations with Trump at all was India. In a social publication of the truth on July 30-days before the deadline it imposed on itself to reach a deal-Trump did not announce a 25 percent tariff for Indian products, but also said that he would slap an unlimited penalty on the country to purchase Russian oil and military equipment.

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The rest

It is also unclear in many cases that will happen for tariffs by 50 percent on global steel, aluminum and copper recently imposed by Trump and threatened, as well as the additional customs tariffs of 10 percent on countries that join any potential Brex (now includes Brazil, Russia, China and South Africa, and several members) to promote the American state.

Trump also sent messages with tariffs updated in July to about twenty other countries, including senior commercial partners such as Brazil, Canada and South Korea, as well as the youngest such as Bangladesh, Cambodia and Kazakhstan.

Countries facing tariff threats on August 1

The Trump administration did not shed light on the fate of the remaining countries that constitute a tariff list on April 2, but Trump said that.[n]Extensions will be granted “on any tariff that exceeds the deadline on August 1.

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