Trump puts world on notice: 15-20% tariffs for those without US trade deals

14 hours ago

US President Donald Trump on Monday said he may impose a blanket tariff in the range of 15 per cent to 20 per cent on imports to the United States from countries that haven't negotiated separate trade deals with Washington."For the world, I would say it'll be somewhere in the 15 per cent to 20 per cent range. I just want to be nice," Trump said in Turnberry, Scotland, alongside UK Prime Minister Keir Starmer.advertisementTrump's remarks assume significance as they mark an increase from the 10 per cent baseline tariff the US President announced in April. It could also put economic strain on smaller countries that hoped the tariff rate would be 10 per cent.
Earlier this month, Commerce Secretary Howard Lutnick said that smaller nations, including "the Latin American countries, the Caribbean countries, many countries in Africa", would have a baseline tariff of 10 per cent, CNBC reported.However, Trump said, "We're going to be setting a tariff for essentially the rest of the world, and that's what they're going to pay if they want to do business in the US, because you can't sit down and make 200 deals."Several countries, including India, are still negotiating trade deals with the US ahead of Trump's August 1 tariff deadline. With the deadline approaching, Trump administration officials have suggested that the White House was not "under pressure to have more deals".Currently, India's trade delegation, led by chief negotiator Rajesh Agrawal, is in Washington for planned discussions about a possible agreement. India - a key trading partner of the US - remains one of a handful of nations that is still in talks with the US on tariffs.Last week, Trump announced 15 per cent tariffs on Japan, 16 per cent tariffs on Indonesia and 15 per cent levies on the European Union. However, some countries, including Brazil and Laos have imposed tariffs as high as 40 per cent and 50 per cent.- EndsTune InMust Watch
IN THIS STORY#Donald Trump#United States of America

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ICE cotton gains as US-EU pact lifts mood, oil adds support

Fibre2Fashion

17 minutes ago

Fibre2Fashion

ICE cotton gains as US-EU pact lifts mood, oil adds support

ICE cotton futures closed higher on Monday following the announcement of a trade deal between the US and the European Union. The development lifted overall sentiment in the grain market. However, the EU is not a major buyer of US cotton due to its limited spinning capacity. Rising crude oil prices also supported US cotton, as higher oil prices tend to increase the cost of polyester fibre, making cotton relatively more attractive. ICE's most active December 2025 contract settled at 68.34 cents per pound (0.453 kg), up 0.11 cent. This marked the eleventh consecutive close around the 68-cent mark, indicating a stable and range-bound market. Other contracts settled 11 to 39 points higher. ICE cotton futures closed higher as a new US-EU trade deal lifted sentiment, though the EU remains a minor buyer of US cotton. Rising crude oil prices also supported cotton by making polyester more expensive. December 2025 cotton held near 68 cents/lb for an eleventh session. USDA rated 55 per cent of US cotton good-to-excellent. Brazil's July exports dropped 19 per cent year-on-year. Total trading volume reached 28,728 contracts, compared to 24,104 contracts cleared on Friday. ICE deliverable stocks remained unchanged at 21,617 bales as of July 25. The market responded positively to the newly announced trade agreement between the US and the European Union, reached on July 27. Under the deal, a 15 per cent tariff will be applied to EU goods exported to the US. Despite this, cotton prices remained largely within a narrow range, as the EU is not a key importer of US cotton. However, the overall boost to global sentiment helped lift commodity markets broadly. Stock markets responded more strongly, with the S&P 500 posting its sixth consecutive closing high and the Nasdaq also setting a record—reflecting a broader appetite for risk. Market analysts noted that the price uptick was mainly driven by the trade deal, with additional support coming from rising oil prices. NYMEX crude futures rose over 2 per cent on the day, fuelled by the US-EU deal and President Trump's decision to shorten the 50-day deadline for a resolution between Russia and Ukraine. Higher oil prices typically raise polyester costs, giving cotton a competitive edge. The weekly USDA Crop Progress Report, released after market close, showed 55 per cent of the US cotton crop rated good-to-excellent—down from 57 per cent the previous week but up from 49 per cent in the same week last year. Meanwhile, Brazil's Secretariat of Foreign Trade (Secex) reported that the country exported 111,707.33 tons of cotton in the first four weeks of July, averaging 5,879.33 tons per day—a 19 per cent decline from last July's daily average of 7,270.13 tons. As of the latest session, ICE cotton for December 2025 was trading at 68.23 cents per pound (down 0.11 cent). Cash cotton stood at 66.50 cents (up 0.64 cent). Other contract settlements were: October 2025 at 67.23 cents (down 0.17 cent), March 2026 at 69.63 cents (down 0.13 cent), May 2026 at 70.73 cents (down 0.13 cent), and July 2026 at 71.41 cents (down 0.21 cent). A few contracts remained unchanged, with no trades recorded. Fibre2Fashion News Desk (KUL)

Zelensky's Drones Plunge 150,000 Into Darkness, Strike Homes & Railways; Kills Civilian In Car Blast

Time of India

30 minutes ago

Time of India

Zelensky's Drones Plunge 150,000 Into Darkness, Strike Homes & Railways; Kills Civilian In Car Blast

'Publicity Stunt': US Calls UN Israeli-Palestinian Peace Talks 'Unproductive And Ill-Timed' The Trump administration has strongly criticised the current UN conference on the Israeli-Palestinian conflict co-hosted by France and Saudi Arabia. The State Department called the event 'unproductive and ill-timed,' accusing it of prolonging the war and emboldening Hamas. Officials described the conference as a publicity stunt undermining delicate diplomatic efforts to achieve peace and free hostages. US Secretary of State Marco Rubio previously called such efforts a 'slap in the face' to the victims of the October 7 attack. Although the US is not participating in the conference, it reaffirmed its commitment to peace initiatives in the region. The statement also condemned French President Emmanuel Macron's recognition of a Palestinian state, which was welcomed by both Hamas and the Palestinian Authority. Criticism was notably absent for Saudi Arabia, reflecting the Trump administration's close ties with Crown Prince Mohammed bin Salman. While avoiding an official position on the two-state solution, Trump officials have avoided criticising recent Israeli policies challenging that framework. The focus remains on promoting peace while opposing gestures thought to hinder diplomatic progress.#IsraelPalestine #UNConference #TwoStateSolution #TrumpAdministration #MiddleEastPeace #HamasConflict #DiplomaticEfforts #Macron #SaudiArabia #PeaceProcess 671 views | 3 hours ago

India vs England, The Oval Test: Arshdeep Singh is fit and available for selection