Trump to put tariffs of over 10% on smaller nations, including those in Africa and the Caribbean - Economy
'We'll probably set one tariff for all of them,' Trump said, adding that it could be 'a little over 10% tariff' on goods from at least 100 nations.
Commerce Secretary Howard Lutnick interjected that the nations with goods being taxed at these rates would be in Africa and the Caribbean, places that generally do relatively modest levels of trade with the US and would be relatively insignificant for addressing Trump's goals of reducing trade imbalances with the rest of the world.
The president had this month been posting letters to roughly two dozen countries and the European Union that simply levied a tariff rate to be charged starting Aug. 1.
Those countries generally faced tax rates on the goods close to the April 2 rates announced by the US president, whose rollout of historically high import taxes for the US caused financial markets to panic and led to Trump setting a 90-day negotiating period that expired July 9.
Trump also said he would 'probably' announce tariffs on pharmaceutical drugs at the 'end of the month.'
The president said he would start out at a lower tariff rate and give companies a year to build domestic factories before they faced higher import tax rates. Trump said computer chips would face a similar style of tariffs.
Follow us on:
Short link:
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mid East Info
29 minutes ago
- Mid East Info
Aramco and Arthur D. Little Release Insights on Leveraging AI for Carbon Market Integrity in FII Institute's White Paper
Riyadh, Saudi Arabia, 30 July, 2025.: The Future Investment Initiative (FII) Institute, in collaboration with Aramco and Arthur D. Little (ADL), announces the release of a white paper titled 'AI-Enabled Carbon Markets: Identifying AI Solutions for the Voluntary Carbon Industry.' The publication explores how artificial intelligence (AI) could improve transparency, accuracy, and efficiency in the voluntary carbon market, offering practical guidance for organizations working to meet carbon emissions reduction targets. Addressing evolving challenges in the carbon market, such as project identification, cost overruns, and regulatory as well as market complexities, the white paper emphasizes AI as a tool for overcoming issues like pricing transparency and the risk of greenwashing. It highlights AI's potential to contribute to enhancing the breadth, consistency, and integrity of carbon credits, with the aim of providing companies with greater confidence and precision in pursuing carbon emissions reduction. Key Insights from the White Paper The publication identifies four primary ways AI could help advance the voluntary carbon market: Carbon quantification: AI technology could have the potential to enhance the precision of carbon sequestration measurements, allowing for more accurate assessments of project impacts and better prioritization. Transparency: AI is expected to enable real-time monitoring of carbon offset projects, providing verified emissions data that could contribute to building stakeholder trust. Integrity: The use of AI may mitigate the risk of greenwashing by identifying discrepancies between reported and actual carbon reductions, which could help bolster the credibility of carbon credits. Pricing forecasting: AI-driven models could offer dynamic, data-based valuations for carbon credits, with the aim to support market participants in making well-informed decisions. Musaab M. Al Mulla, Aramco Vice President of Market Analysis and Sustainability, said: 'We see the voluntary carbon markets as a unique and important lever in supporting a practical and orderly energy transition. However, for the market to reach its considerable potential to mitigate carbon emissions at scale, a number of key challenges will need to be addressed. This white paper showcases AI's potential role in helping to make carbon markets more transparent and efficient. Integrating AI could support organizations in enhancing the reliability and accountability of their carbon emissions reduction efforts.' Carlo Stella, Managing Partner and Global Practice Leader for the Sustainability Practice at Arthur D. Little, said: 'AI's role in carbon markets is essential for organizations aiming to achieve meaningful and measurable progress. This white paper highlights AI's potential to improve accuracy in carbon reduction measures, a critical factor to improve confidence among adopters.' Richard Attias, CEO of FII Institute, said: 'Our collaboration with Aramco and Arthur D. Little reflects a shared goal of leveraging technology to enhance efficiency. This publication is a vital resource for any organization focused on making credible, impactful advances in carbon emissions reduction through AI-driven carbon markets.' Opportunities and Challenges in Carbon Markets With AI solutions in place, organizations could address market challenges such as inconsistent policies, budget overruns, and lack of pricing transparency. The insights offered here are expected to provide a strategic guide for entities participating in voluntary carbon markets, with the aim of enhancing their ability to meet sustainability goals within an evolving regulatory landscape. For more detailed insights, the full white paper ('AI-Enabled Carbon Markets: Identifying AI Solutions for the Voluntary Carbon Industry') is available for download here.
See - Sada Elbalad
an hour ago
- See - Sada Elbalad
Algeria Reaffirms Full Support for Lebanon
By Ahmad El-Assasy Algerian President Abdelmadjid Tebboune has reiterated Algeria's unwavering solidarity with the people of Lebanon under all circumstances. His statement came after receiving the Lebanese Army Commander, General Joseph Aoun, in Algiers—marking a significant diplomatic encounter aimed at deepening bilateral ties. During the joint press conference, President Tebboune described the meeting as "constructive and of great interest", highlighting Algeria's commitment to enhancing cooperation with Lebanon. 'We consider this visit a milestone in reinforcing the strong and renewed fraternal relations between Algeria and Lebanon. It is a valuable opportunity to expand and deepen our cooperation,' Tebboune stated. The two sides agreed to expedite preparations for the first session of the Algerian-Lebanese Joint Committee, which Tebboune described as a 'new starting point' for bilateral collaboration. President Tebboune reaffirmed Algeria's 'firm and constant' support for Lebanon's sovereignty, peace, and stability. He emphasized Algeria's role at the United Nations Security Council in condemning Israeli violations of Lebanese territory and expressed backing for the renewal of the mandate of UN peacekeeping forces in southern Lebanon. The talks also addressed major regional issues. Both leaders expressed grave concern over the deteriorating humanitarian crisis in Gaza and the ongoing Israeli military campaign. 'We underscored the urgent need to stop the genocide and starvation tactics against our people in Gaza, and to foil any plans for forced displacement,' President Tebboune said. In addition, the two leaders voiced alarm over recent developments in Syria, particularly foreign interventions and repeated assaults on the country's sovereignty. To navigate these critical regional challenges, Tebboune stressed the importance of activating the long-dormant political consultation mechanism between the two nations. 'Unfortunately, this mechanism has not been convened since it was established in 2002. We now reaffirm our commitment to resuming this framework to foster mutual dialogue and political coordination,' he concluded. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Arts & Culture Lebanese Media: Fayrouz Collapses after Death of Ziad Rahbani Sports Get to Know 2025 WWE Evolution Results
CairoScene
3 hours ago
- CairoScene
Grand Mosque's Electricity Bill Reaches SAR 15 Million Per Month
A recent report highlights the immense energy demands required to operate the mosque's advanced infrastructure. Mar 25, 2025 The electricity bill for the Grand Mosque in Makkah reaches approximately SAR 15 million per month, depending on the season. The figure, which tends to rise during Ramadan and Hajj due to increased activity, was shared by the state-owned Al Ekhbariya channel in a recent televised segment. The report highlights the immense energy demands required to operate the mosque's advanced infrastructure, which includes 100 megavolt-amperes of daily consumption distributed across several major systems. Among these are over 120,000 lighting units, 883 air conditioning systems, and 4,323 ventilation and misting fans. The cooling system alone operates with a capacity of 155,000 tonnes. Additional facilities supported by this electrical load include 8,000 speakers powering a world-class sound system, more than 8,000 surveillance cameras, 519 escalators, and 100 multilingual interactive screens serving worshippers and visitors.
