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Globe and Mail
2 hours ago
- Globe and Mail
As Trump's latest tariff deadline nears, here are the trade deals the U.S. has announced so far
The clock is ticking closer to U.S. President Donald Trump's latest tariff deadline of Aug 1. And while several more deals – or at least frameworks for deals – have been reached since his last tariff deadline of July 9 came and went, trade talks with many countries are still in flux. Trump unveiled sweeping import taxes on goods coming into the U.S. from nearly every country back in April. That included heightened so-called reciprocal rates for certain countries, the bulk of which have since been postponed twice. The first 90-day pause arrived in an apparent effort to quell global market panic and facilitate country-by-country negotiations, with the Trump administration at one point setting a lofty goal of reaching 90 trade deals in 90 days. But three months later, only two deals emerged: with the U.K. and Vietnam. A separate 'framework' for a deal was hashed out with China. And by early July, Trump began sending warning letters that higher tariffs would be imposed against dozens of countries on Aug. 1. Since then, the U.S. has announced more trade frameworks. But, key details remain sparse – or not immediately captured in writing. Here's what we know about the agreements so far, in the order of those most recently announced. The U.S. President said he reached an agreement with Seoul on July 30 that would impose a 15-per-cent tariff for goods from South Korea. The countries have also agreed for South Korea to buy US$100-billion in energy resources from the U.S. and for South Korea to give to the U.S. US$350-billion for 'investments owned and controlled by the United States, and selected by myself, as president,' Trump said. The U.S. and the EU announced a trade framework that imposes 15-per-cent tariffs on most European goods – warding off Trump's most recent threat of 30-per-cent if no deal had been reached by Aug. 1. But some key details require more work. The headline of the agreement, unveiled July 27, is that the 15-per-cent tariff rate will apply to 70 per cent of European goods brought into the U.S. – with the EU later confirming that that rate applies to pharmaceuticals, semiconductors, and car and car parts. But the remaining 30 per cent of those imports is still open for negotiations. European Commission President Ursula von der Leyen said that both sides had agreed to zero tariffs for a range of 'strategic' goods. Meanwhile, Trump pointed to heightened investments from European companies in the U.S. – including what Trump said was US$750-billion (€638-billion) worth of natural gas, oil and nuclear fuel over three years, as well as an additional US$600-billion (€511-billion) under a political commitment that isn't legally binding, officials said. Explainer: The details of Trump's trade deal with the EU On July 22, Trump announced a trade framework to impose 15-per-cent tariffs on Japan – down from his previously-threatened rate of 25 per cent. The U.S. President also said Japan would invest US$550-billion into the U.S. and would 'open' its economy to American autos and rice. The newly-agreed on 15-per-cent tariff rate also applies to Japanese cars – marking a welcome relief for automakers like Toyota Motor Corp. and Honda – which, like other automakers, have faced a 25-per-cent levy on key parts and finished vehicles going into the U.S. since earlier this year. But car companies in other countries, including U.S. competitors, worry that this could put them at a disadvantage. Shortly after a July 22 meeting with Philippine President Ferdinand Marcos, Jr., Trump announced that he would lower his coming tariffs on imports from the country to 19 per cent – down just 1 per cent from his previous threat of 20 per cent. In return, Trump said on Truth Social, the U.S. would not pay tariffs on American goods it shipped to the Philippines. But additional details remained unclear. Marcos said his country was considering options such as having an open market without tariffs for U.S. automobiles, but emphasized details were still left to be worked out. Explainer: What are the current tariffs between Canada and the U.S.? On July 15, Trump again took to social media to announce that he's agreed to lower his planned tariffs on Indonesian goods to 19 per cent – down from a previously-threatened levy of 32 per cent – while American goods sent to the southeast Asian country will face no tariffs. A fact sheet from the White House later confirmed that 'over 99% of U.S. products' exported to Indonesia would be sent duty-free. Indonesian President Prabowo Subianto said he will continue to negotiate with Trump, in hopes of further lowering the coming U.S. tariffs. On July 2, Trump announced a trade deal with Vietnam that he said would allow U.S. goods to enter the country duty-free. Vietnamese exports to the U.S., by contrast, would face a 20-per-cent levy. That's less than half the 46 per cent 'reciprocal' rate Trump proposed for Vietnamese goods back in April. But in addition to the new 20-per-cent tariff rate, Trump said the U.S. would impose a 40-per-cent tax on 'transshipping' – targeting goods from another country that stop in Vietnam on their way to the United States. Washington complains that Chinese goods have been dodging higher U.S. tariffs by transiting through Vietnam. On May 8, Trump agreed to cut tariffs on British autos, steel and aluminum, among other trade pledges – while the U.K. promised to reduce levies on U.S. products like olive oil, wine and sports equipment. The deal was announced in grandiose terms by both countries, but some key details remained unknown for weeks. When the deal was announced, for example, the British government notably said that the U.S. agreed to exempt the U.K. from its then-universal 25-per-cent duties on foreign steel and aluminum – which would have effectively allowed both metals from the country to come into the U.S. duty-free. But the timing for when those cuts would actually take effect stayed up in the air for almost a month. It wasn't until early June, when Trump hiked his steel and aluminum tariffs to a punishing 50 per cent worldwide, that the U.S. acknowledged it was time to implement the agreement. And even then, U.S. tariffs on British steel and aluminum did not go to zero. The U.K. was the only country spared from Trump's new 50-per-cent levies, but still faces 25-per-cent import taxes on the metals. At its peak, Trump's new tariffs on Chinese goods totalled 145 per cent – and China's countertariffs on American products reached 125 per cent. But on May 12, the countries agreed to their own 90-day truce to roll back those levies to 30 per cent and 10 per cent, respectively. And in June, details began trickling in about a tentative trade agreement. U.S. Treasury Secretary Scott Bessent said that China had agreed to make it easier for American firms to acquire Chinese magnets and rare earth minerals critical for manufacturing and microchip production. Meanwhile, the Chinese Commerce Ministry said that the U.S. would 'lift a series of restrictive measures it had imposed on China.' Other key details of the deal remain murky – including the timing of implementation for these terms. On July 29, China's top trade official said the two sides had agreed to work on extending an Aug. 12 deadline for new tariffs on each other, following a two-day trade meeting in Stockholm. The U.S. side said extension plans were discussed, but not decided.
CTV News
7 hours ago
- CTV News
London expands locations to drop off depleted household batteries
John McQuaid seen with a battery recycling bin in London, Ont. on July 30, 2025. (Sean Irvine/CTV News London) Londoners have six new locations to recycle household batteries at city facilities. The program is a joint initiative with Call2Recycle Canada (C2RC) and Recycle Your Batteries Canada. 'We're very happy to announce that our program is being expanded across the City of London with more accessible drop-off locations and greater public awareness efforts to let everyone know that batteries don't belong in the trash and need to be recycled responsibly,' C2RC spokesperson Jon McQuaid stated at a Wednesday news conference. Battery recycling canisters will now be located at East Lions, South London, and community centres, as well as the Canada Games Aquatic Centre, Central Library, and Storybook Gardens. Cannisters can also be found at multiple Enviro Depots and City Hall. They are also located within several retail stores. London battery drop off A battery recycle bin seen in London, Ont. on July 30, 2025. (Sean Irvine/CTV News London) The city said the program will operate at no cost to taxpayers. Call2Recycle Canada estimates the average London household has 100 batteries in use. Multiple types of batteries are accepted for recycling. They include alkaline, lithium-ion, and nickel-cadmium. More information can be found here.
CTV News
8 hours ago
- CTV News
Adidas may hike U.S. prices, flags US$231 million tariff cost
LONDON — Sportswear brand Adidas warned on Wednesday that it may have to hike prices in the United States, after reporting U.S. tariffs would add around 200 million euros (US$231 million) to costs in the second half. Shares in Adidas fell more than 7 per cent, bringing the stock's losses since the start of this year to 23 per cent. Highlighting the impact of U.S. President Donald Trump's volatile trade policies, Adidas said uncertainty was holding it back from increasing its annual guidance, and it has not yet decided on possible price increases to mitigate the impact. 'We still do not know what the final tariffs in the U.S. will be,' CEO Bjorn Gulden said in a statement. 'We also do not know what the indirect impact on consumer demand will be should all these tariffs cause major inflation.' Adidas will review its pricing and decide which products it could hike prices on in the U.S., once tariffs are finalized, Gulden told journalists on a conference call, declining to say how much prices might increase. 'We will try to keep the prices on known models (stable) as long as we can, and then do new pricing on product that hasn't existed before,' he said. Adidas sales grew 2.2 per cent in euro terms to 5.95 billion euros (US$6.9 billion) in the quarter, lower than analysts' average estimate of 6.2 billion euros, according to data compiled by LSEG. The shortfall will likely fuel fears that, after a run of very strong sales growth fueled by its trendy three-striped multicolored Samba and Gazelle shoes, Adidas is losing momentum. 'For investors to view this as a temporary setback, the company will need to deliver a reassuring message regarding the outlook for H2 and the early 2026 order book,' UBS analyst Robert Krankowski said in a note to clients. Footwear tariffs The U.S. earlier this month announced a 20 per cent levy on many Vietnamese exports and a 19 per cent tariff on goods from Indonesia - Adidas' two biggest sourcing countries which produce 30 per cent and 23 per cent respectively of Adidas products sold in the U.S. Footwear imports into the U.S. already faced tariffs before Trump, and the new duties mean tariffs on footwear from Vietnam have gone up to 46 per cent, from 26 per cent, and from Indonesia to 43 per cent from 24 per cent, Gulden said. Like many other sportswear companies, including Puma, Adidas has been frontloading product shipments into the U.S. ahead of tariffs, driving its inventories up 16 per cent to 5.26 billion euros at the end of June. Despite the impact of tariffs, Gulden said the U.S., which accounts for around a fifth of Adidas sales, is still a key market. 'We want to grow and we are also willing to over-invest in the U.S. to double the business,' he said on the call. Higher tariffs already had a 'double-digit' million euro impact on Adidas' second quarter, and Adidas is also contending with a weaker dollar and weaker Chinese yuan taking 300 million euros off quarterly sales. Quarterly operating profit, however, reached 546 million euros, ahead of analysts' expectations for 520 million. Adidas said 'lifestyle' revenues - from sneakers and casual clothing - grew 13 per cent, helped by cow print, leopard print and metallic versions of its SL72 and Samba sneakers. A merchandise collaboration with rock group Oasis for its reunion tour has also boosted sales, Gulden said. --- Reporting by Linda Pasquini in Gdansk and Helen Reid in London; Editing by Matt Scuffham, David Holmes and Louise Heavens
