Trump says tariffs are making US 'great and rich' again
Image: Peter Zay / AFP
US President Donald Trump said Thursday that the sweeping tariffs he has imposed on nations around the world were making the country "great & rich again" as governments raced to strike deals with Washington less than 24 hours before an August 1 deadline.
"Tariffs are making America GREAT & RICH Again," he wrote on his Truth Social platform.
"ONE YEAR AGO, AMERICA WAS A DEAD COUNTRY, NOW IT IS THE "HOTTEST" COUNTRY ANYWHERE IN THE WORLD," he added.
A day earlier, the US President imposed new tariffs to punish or favor several major trading partners -- the latest round of sweeping measures that have roiled markets around the world.
South Korea squeezed in at the last moment, securing agreement on a 15 percent tariff for exports to the United States -- significantly below the 25 percent that Trump had earlier threatened to introduce.
But Trump also announced crippling 50 percent tariffs on Brazil and a 25 percent levy on Indian exports, while warning Canada it would face trade repercussions for planning to recognize a Palestinian state.
Video Player is loading.
Play Video
Play
Unmute
Current Time
0:00
/
Duration
-:-
Loaded :
0%
Stream Type LIVE
Seek to live, currently behind live
LIVE
Remaining Time
-
0:00
This is a modal window.
Beginning of dialog window. Escape will cancel and close the window.
Text Color White Black Red Green Blue Yellow Magenta Cyan
Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan
Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan
Transparency Transparent Semi-Transparent Opaque
Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps
Reset
restore all settings to the default values Done
Close Modal Dialog
End of dialog window.
Advertisement
Video Player is loading.
Play Video
Play
Unmute
Current Time
0:00
/
Duration
-:-
Loaded :
0%
Stream Type LIVE
Seek to live, currently behind live
LIVE
Remaining Time
-
0:00
This is a modal window.
Beginning of dialog window. Escape will cancel and close the window.
Text Color White Black Red Green Blue Yellow Magenta Cyan
Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan
Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan
Transparency Transparent Semi-Transparent Opaque
Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps
Reset
restore all settings to the default values Done
Close Modal Dialog
End of dialog window.
Next
Stay
Close ✕
The 15 percent rate on Seoul -- Washington's key security ally -- was equivalent to levies determined from US trade deals with Japan and the European Union.
He added that South Korea had committed to investing $350 billion in the United States, as well as the purchase of "$100 billion worth" of liquefied natural gas (LNG) or other energy sources.
Seoul's presidential office said tariffs on automobiles -- one of Seoul's key exports -- would also stay at 15 percent.
Trump hit Brazil with high tariffs as well as sanctions against the judge overseeing a trial of his far-right ally Jair Bolsonaro, who is accused of attempting a coup in Latin America's biggest economy.
But he delayed its implementation from Friday to August 6, and crucially exempted many products from the prohibitive levy, including orange juice, civil aircraft, iron ore and some energy products. Canada trade threat
He had threatened to wield US economic might to punish Brazil -- and its Supreme Court Justice Alexandre de Moraes, in particular -- for what he has termed a "witch hunt" against former president Bolsonaro.
Brazilian President Luiz Inacio Lula da Silva said he would defend "the sovereignty of the Brazilian people in the face of measures announced by the president of the United States."
Among Trump's latest announcements were a 25 percent duty on Indian goods to begin Friday -- slightly lower than previously threatened -- after talks between Washington and New Delhi failed to bring about a trade pact.
India would face an unspecified "penalty" over purchases of Russian weapons and energy as well, Trump said.
"I don't care what India does with Russia. They can take their dead economies down together, for all I care," Trump wrote on his Truth Social platform.
"We have done very little business with India, their Tariffs are too high, among the highest in the World," he added.
Canada's trade relations with the United States also came under threat after Prime Minister Mark Carney announced plans to recognize a Palestinian state at the UN General Assembly in September.
"Wow! Canada has just announced that it is backing statehood for Palestine," the US president wrote on his Truth Social platform. "That will make it very hard for us to make a Trade Deal with them." 'Big day for America'
He also signed an order Wednesday to impose previously threatened 50 percent tariffs on certain copper products and end a tariff exemption for low-value shipments from abroad.
It left out products like copper ores, concentrates and cathodes, bringing some relief to industry.
As Trump's deal deadline neared, Commerce Secretary Howard Lutnick told Fox News that Washington had struck trade deals with Cambodia and Thailand, but provided no details of the accords.
The US tariff hikes due Friday were initially announced in April as part of a package in which Trump slapped a minimum 10 percent levy on goods from almost all trading partners -- citing unfair trade practices.
This rate was set to rise to varying levels for dozens of economies such as the European Union, Japan and others, but Washington twice postponed their implementation as financial markets gyrated.
The US leader insisted Wednesday that the August 1 deadline "will not be extended" any further.
So far, Britain, Vietnam, Japan, Indonesia, the Philippines, the EU and South Korea have reached initial deals with Washington to secure less punishing conditions.
While the United States and China earlier slapped escalating tariffs on each other's products, both sides are working to further a truce maintaining duties at lower levels.
Although Trump has promised a surge in government revenues from his duties, economists warn that higher tariffs can fuel an uptick in inflation and weigh on economic growth.
AFP
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
IOL News
19 minutes ago
- IOL News
NPA's strategies to combat gender-based violence and restore public trust
Minister of Justice and Constitutional Development, Mmamoloko Kubayi, announced the National Prosecuting Authority's strategy, which aims to encourage victims of gender-based violence to report crimes and to restore public confidence in the legal system, especially in light of recent high-profile acquittals. Image: Ntswe Mokoena / GCIS The National Prosecuting Authority (NPA) is implementing a wide-ranging, victim-centric strategy to ensure that high-profile acquittals do not deter victims of gender-based violence (GBV) from reporting cases or seeking justice. In light of public concerns regarding the effectiveness of prosecuting GBV and high-profile crimes, particularly after the acquittal of Pastor Timothy Omotoso despite serious allegations and years of trial, Justice and Constitutional Development Minister Mmamoloko Kubayi revealed this information. In response to parliamentary questions from the EFF's Sixolisa Gcilishe, Kubayi addressed concerns about how the department prevents high-profile acquittals from discouraging GBV victims from coming forward. Kubayi said the NPA acknowledges public concerns and the potential wider implications for prosecuting GBV and other high-profile cases following Omotoso's acquittal. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ 'The NPA has publicly expressed disappointment at the recent judgment on the Omotoso matter, but cautioned against using one matter to undermine the trust and confidence of victims of GBV in our criminal justice system. Instead, it has emphasised its well-established victim-centred approach to dealing with victims of GBV with a track record that spans more than 20 years,' Kubayi said. 'Through these comprehensive, integrated, and survivor-focused strategies, the NPA is determined to prevent high-profile acquittals from undermining public trust or deterring victims from coming forward. The goal is to continuously build public confidence that the criminal justice system takes GBV seriously and is fully committed to delivering justice for survivors.' Key interventions include: Delivery of GBV public awareness campaign: The NPA is actively working to promote reporting of GBV and restore confidence in the system, through extensive public awareness campaigns, community-specific interventions, and collaboration with civil society and survivor advocacy groups. 'The NPA, driven by the Sexual Offences and Community Affairs (SOCA) Unit, completed 853 campaigns from April to December 2024 in the 2024/2025 financial year,' Kubayi said. Expansion of Thuthuzela Care Centres (TCCs): The NPA aims to expand integrated, survivor-centric services by establishing more TCCs nationwide, offering extensive pretrial services, including psycho-social support, medical treatment, and legal services to GBV victims. 'Currently, there are 66 TCC sites located in rural, urban and peri-urban communities nationally,' Kubayi said. Prosecutor-Guided Investigations (PGI): By enhancing the implementation of PGI, prosecutors are directly involved in guiding investigators from the earliest stages to ensure that GBV cases are properly built, evidence is secured, and procedural missteps are avoided, minimising the risk of acquittals due to avoidable errors. Specialised Training: Prosecutors undergo continuous training to ensure sensitivity and effectiveness in handling GBV matters. Continued Victim Support: Increase the number of Court Preparation Officers to ensure their availability at all courts. This will enable them to adequately prepare victims and witnesses, fostering a secure and supportive environment that promotes full participation in the criminal justice process. Policy Directives for Prosecutors: The NPA has amended its directives relating to Sexual Offences and Domestic Violence to align with recent amendments to GBV legislation. These directives offer clear, binding instructions to prosecutors on managing GBV cases. Serial Rapist Prioritisation Initiative: Launched in 2023, this initiative focuses on fast-tracking the prosecution of cases involving identified serial rapists across all provinces. Teenage Pregnancy Prioritisation Initiative: Introduced in 2024, this initiative addresses teenage pregnancies by ensuring that cases involving children below the age of consent are promptly reported, thoroughly investigated, and prosecuted. DNA Prioritisation Initiative: Implemented in October 2020, this initiative has focused on reducing the DNA testing backlog in sexual offence cases. 'By prioritising DNA evidence, prosecutors, together with the SAPS Forensic Science Laboratory, have facilitated the finalisation of 60,518 reports to date, significantly improving turnaround times in GBV-related prosecutions,' Kubayi said. Community Prosecution Initiative: The NPA has established community prosecution capacity in all divisions to tackle crime through localised, community-specific solutions. There are 50 community prosecution sites nationwide, with 26 specifically dedicated to addressing GBV.
IOL News
an hour ago
- IOL News
Mass abduction in Nigeria as armed 'bandits' kidnap over 50 people
Gangs preying on rural communities that have long had little or no government presence. Image: Kola Sulaimon / AFP Gunmen kidnapped more than 50 people in northwest Nigeria in a mass abduction, according to a private conflict monitoring report created for the United Nations and seen by AFP on Sunday. "Armed bandits" targeted the village of Sabon Garin Damri in Zamfara state Friday, the report said, the latest attack in a region where residents in rural hinterlands have long suffered from gangs who kidnap for ransom, loot villages and demand taxes. The report said this was the first "mass capture" incident in the Bakura local government area this year, "the recent trend of mass captures in Zamfara has been concerning," noting "a shift in bandit strategy toward more large-scale attacks in northern Zamfara." A Zamfara police spokesman did not respond to a request for comment. Nigeria's "banditry" crisis originated in conflict over land and water rights between herders and farmers but has morphed into organised crime, with gangs preying on rural communities that have long had little or no government presence. The conflict is worsening a malnutrition crisis in the northwest as attacks drive people away from their farms, in a situation that has been complicated by climate change and western aid cuts. Last month, bandits in Zamfara killed 33 people they had kidnapped in February despite receiving a $33,700 (R594,000) ransom, while three babies died in captivity, officials and residents told AFP. Bandit-jihadist cooperation Since 2011, as arms trafficking increased and the wider Sahel fell into turmoil, organised armed gangs formed in northwest Nigeria, with cattle rustling and kidnapping becoming huge moneymakers in the largely impoverished countryside. Groups also levy taxes on farmers and artisanal miners. Violence has spread in recent years from the northwest into north-central Nigeria. Two weeks ago, Nigerian troops killed at least 95 members of an armed gang in a shootout and airstrikes in the northwest state of Niger. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad Loading But the military is overstretched. While improved cooperation between the army and air force has aided the fight, analysts say, airstrikes have also killed hundreds of civilians over the years. Bandits, who are primarily motivated by money, have also increased their cooperation with Nigeria's jihadist groups, who are waging a separate, 16-year-old armed insurrection in the northeast. The recent emergence of the Lakurawa jihadist group in the northwest has worsened violence in the region. Governments of affected states have been forced to recruit anti-jihadist militias fighting the militants in the northeast to assist in countering the bandits. AFP
IOL News
an hour ago
- IOL News
Gauteng's R1 billion under-expenditure: Unimpressed Lesufi reshuffles heads of departments
Gauteng Premier Panyaza Lesufi made public the outcomes of 47 forensic reports on Sunday, and also announced the configuration and appointments of heads of departments. Image: Gauteng Provincial Government Premier of Gauteng, Panyaza Lesufi on Sunday released several reports following multiple investigations into serious offences and improper behaviour across multiple departments. He said the investigations covered a wide range of misconduct, from criminal acts to minor breaches of conduct. 'The reports we are presenting today will be accessible to all the members of the public once the State Law Advisory Services finishes redacting personal details and reviewing the changes,' said Lesufi. 'Protecting whistleblowers is essential for transparency and justice. They risk their safety to expose corruption and abuse of power, helping ensure accountability and ethical governance.' On the relocation of heads of departments, Panyaza said his reshuffle follows recommendations from the Gauteng Ethics and Advisory Council (GEAC). 'It would take me long if I have to go through every department. We have made this information available to you, and it is also going to be available on our website,' said Lesufi. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ 'I also want to bring to your attention that on 17 July 2025, I responded to matters that came from our GEAC that responded to the heads of departments that could not finish our conclude their lifestyle audits. 'I also indicated that there were departments that underspent seriously, the total underspend at that time stood at R1.8 billion which has now gone to R1.3 billion after the authorisation of some of the transactions that we requested to be carried over,' he said. Earlier this year, IOL reported that Lesufi condemned his administration for returning about R1.8 billion to the National Treasury after underspending on its annual budget. At the time, Lesufi acknowledged a marginal improvement in financial management but said returning unspent funds amid rising community needs cannot be justified. On Sunday, Lesufi described the under-expenditure as 'a serious underperformance' by the heads of departments. 'They are also heads of departments that have missed their performance targets and we took serious exception, that with the challenges that we are facing, of service delivery, we can't afford departments that are missing performance targets. 'We also found some audit outcomes which indicated that some departments are not performing ideally. Within that context, I have taken a decision to reshuffle and reset heads of departments, and remove other heads of departments from their responsibilities,' he said. From 1 August, these are the new heads of departments of the departments in Gauteng: * Department of eGovernment: Masabata Mutlaneng, coming from infrastructure development department * Department of Infrastructure Development: Rufus Mmutlana, moved from department of education * Treasury: Ncumisa Mnyani retained * COGTA: Darion Barclay retained * Transport: Dr Thulani Mdadane retained but the post will be advertised later this month * Human Settlements: Puleng Gadebe-Mabaso retained * Agriculture and Rural Development: Khululekile Mase retained 'In the following departments, I have appointed acting heads of departments with immediate effect. Will now resume the process of recruitment for permanent appointments: Environment: Matthew Sathekge; Sports, Arts, Culture and Recreation: Mpho Nawa; Social Development: Phumla Sekhonyane; Education: Albert Chaane; Community Safety: the appointment is still pending; and Health is also still pending,' said Lesufi. 'I am pleased to have appointed the new head of department for the Gauteng Department of Economic Development, Motlatjo Moholwa. Mr Moholwa brings with him a wealth of experience in the public service.' Moholwa has served as the head of economic research and chief economist in the City of Johannesburg, a lead economist for the Land Bank and the deputy director general in the Mpumalanga and Gauteng Departments of Economic Development. IOL News Get your news on the go, click here to join the IOL News WhatsApp channel.
