Trump issues tariff ultimatum — if no deal by August 1, these countries will feel the heat
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EU could be next – But there's tension
Trump wants global tariff policy
Brazil Could Suffer Big Losses
South Korea exploring Japan-like deal
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U.S. President Donald Trump has raised the minimum US tariff rate from 10% to a new range of 15% to 50%, depending on how friendly the US is with a country, says Trump at the AI summit, Washington DC.He gave countries a deadline of August 1 to make trade deals — or else they could face high tariffs, especially those the US 'hasn't been getting along with', according to the report by Yahoo Finance.Japan made a deal with the US this week – US will apply a 15% tariff on Japanese goods, and Japan will invest $550 billion in the US, announced on Tuesday. The Philippines also reached a deal – US will charge a 19% tariff on imports from the Philippines, but the Philippines will not charge US exports anything.Indonesia's deal confirmed too – US will charge 19% on Indonesian goods, and a high 40% tariff on any goods rerouted through Indonesia. Good news for US exporters: 99% of US imports to Indonesia will face no tax, as stated by Yahoo Finance.As per the Financial Express report, talks with the European Union are progressing toward a deal like Japan's — with 15% tariffs instead of the threatened 30%. But the EU is ready to fight back: If no deal is reached by August 1, the EU will hit back with 30% tariffs on over $100 billion of US goods, including Boeing aircraft, US cars, and bourbon whiskey.Earlier this month, Trump said 150+ countries would get letters telling them their tariffs would be 10% or 15%. Commerce Secretary Howard Lutnick told CBS News that many small countries, especially from Latin America, the Caribbean, and Africa, would likely face the lower 10% rate, as per the Bloomberg report.Brazil may face a harsh 50% tariff on all its products — and it's already causing panic. The US buys 42% of Brazil's orange juice exports, which is worth $1.31 billion — but with 50% tariffs, farmers may let fruit rot because it won't be worth the cost to harvest, according to the Reuters report.Orange prices in Brazil have already fallen by nearly half this month — showing how Trump's policies are already shaking global markets, even before the tariffs start, Cepea index, University of São Paulo, according to the report by Yahoo Finance.South Korea and the US are discussing a 15% tariff deal, possibly in exchange for a big investment pledge, like Japan did. Talks are delayed for now, because US Treasury Secretary Scott Bessent had a schedule issue, as per the Korean Finance Ministry. The deal may include South Korea buying more US products, like Boeing planes and farm goods, similar to Japan's pact, as per the Bloomberg report.Trump has raised US tariffs to 15%-50% and wants trade deals signed before August 1. Countries like Japan, Philippines, and Indonesia already made deals. EU, Brazil, South Korea, and others are under pressure. If no deal is made, huge tariffs will hit global trade, and some industries are already feeling the impact.President Trump has set August 1 as the deadline for countries to sign trade deals or face 15% to 50% US tariffs.So far, Japan, the Philippines, and Indonesia have signed trade deals to avoid higher US tariffs.
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