As the August 1st deadline hits, President Trump’s suspension of “reciprocal” tariffs ends, ushering in a new wave of trade levies. Despite ambitious claims of “200 deals,” the U.S. has secured only eight agreements in 120 days, including one with the European Union.
Countries with Deals:
United Kingdom: First to strike a deal in May. Tariffs set at 10%, with exemptions for autos and aerospace. Steel and aluminum terms remain unresolved.
Vietnam: Tariffs slashed from 46% to 20%, though Hanoi expected a lower rate. Transshipping penalties remain unclear.
Indonesia: Rate reduced to 19% from 32%, with pledges to eliminate barriers on 99% of U.S. exports.
Philippines: Minor cut from 20% to 19%, praised by Trump for “open market” stance.
Japan & South Korea: Both secured 15% rates, with major U.S. investment commitments ($550B from Japan, $350B from South Korea).
European Union: Deal finalized July 27, setting tariffs at 15%, down from 30%.
Countries Without Deals:
India: Facing a 25% tariff, plus an unspecified penalty over ties with Russia.
Canada: Hit with a steep 35% tariff, partly in response to its recognition of Palestinian statehood.
Mexico: Granted a 90-day extension to negotiate further.
Australia: Tariff remains at 10%, but no formal deal yet.
Brazil: Targeted with a 50% tariff, amid political tensions
(sources gov.uk)
—Agencies
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