
Trump Steps Up Pressure For Deals As US Tariff Deadline Nears
Trump is due to send a first batch of letters to up to 15 trading partners from noon local time (1600 GMT), warning that US levies on imports will snap back to elevated levels if foreign governments fail to reach agreements with Washington.
The duties will not bounce back until August 1, Treasury Secretary Scott Bessent said over the weekend, a move that appears to give more room for dealmaking.
Trump imposed a 10 percent tariff on imports from almost all trading partners in early April, but some economies including the European Union were slated to have this rate increase further.
As markets plunged at the time, Trump halted the steeper levies to allow for talks. That pause expires on Wednesday.
"We are going to have several announcements in the next 48 hours," Bessent told CNBC in an interview Monday.
"We've had a lot of people change their tune in terms of negotiations. So my mailbox was full last night with a lot of new offers, a lot of new proposals," Bessent said.
He reiterated that higher tariff rates for countries would not return until August 1.
There was no immediate response from the White House on whether Trump would formally extend the Wednesday deadline.
Asked about the letters Trump plans to send out, Bessent said these would inform partners of the tariff rate their products face when trading with the United States, unless they want to "come back and try to negotiate."
While the Trump administration has signaled hopes of striking dozens of deals by early July, there have been limited results so far.
Washington has unveiled pacts only with Britain and Vietnam, while the United States and China agreed to temporarily lower tariff levels on each other's products that earlier reached three-digits.
Bessent told CNBC Monday that he would "be meeting with my Chinese counterpart sometime in the next couple of weeks."
The two sides have so far held high-level talks in Geneva and London.
But Washington and Beijing's pause on tit-for-tat tariffs is due to expire in mid-August.
On whether he was disappointed in the number of trade deals achieved so far, Trump's trade adviser Peter Navarro maintained that he is "happy with the progress we've had."
"Every country that we run a major deficit with is fully engaged," he told CNBC on Monday.
On Sunday night, Trump wrote on his Truth Social platform that Washington would deliver "tariff letters" or deals to various countries on Monday.
In a separate post that night, Trump threatened another 10 percent tariff on countries aligning themselves with the emerging BRICS nations, accusing them of "Anti-American policies" after they slammed his duties at a summit.
For now, partners are still rushing to avert Trump's tariffs altogether.
The European Commission said that EU chief Ursula von der Leyen had a "good exchange" with Trump on trade when the pair spoke Sunday.
Japan's Prime Minister Shigeru Ishiba, however, said Sunday that he "won't easily compromise" in trade talks with Washington.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


DW
an hour ago
- DW
What is Liquified Natural Gas? – DW – 07/14/2025
Louisiana is the latest US state to label LNG as "green" energy. But how can a fossil fuel that emits many planet-heating greenhouse gases be clean? The Gulf Coast state of Louisiana, home to the largest liquified natural gas (LNG) export facility in the US, has recently rebranded the fossil fuel as "green" energy. It is the fourth Republican majority state after Indiana, Ohio and Tennessee to have taken this step and comes as US President Donald Trump rolls back renewable energy subsidies and incentives in favor of oil and gas. The US is the world's biggest exporter of LNG, much of which has been shipped to Europe since 2022, when Russian gas supply was slashed following the invasion of Ukraine. That hasn't stopped the European Union from also classifying natural gas-powered electricity, now sourced largely from imported LNG, as green energy in some contexts. The reasoning is that it is a more sustainable way to transition to renewables like solar and wind since it has a lower carbon footprint than coal. But critics point to a leaky and energy-intensive supply chain that releases a lot of planet-heating methane into the atmosphere. Though it also contains small amounts of ethane, propane, butane and nitrogen, Liquid Natural Gas is more than 90% methane. Methane accumulates in the atmosphere for only around 12 years, as opposed to CO2 that persists for centuries, but it has an outsized impact on the climate. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video For one thing, LNG is around 85 times more powerful than CO2 over a 20-year period. Scientists estimate that while methane only accounts for 3% of greenhouse gas emissions since 1750 — the beginning of industrialization — it is responsible for 25-30% of the subsequent global warming. One 2024 study concludes that LNG has a 33% larger greenhouse gas footprint than coal over 20 years, due in part to methane leakages in the supply chain and energy-intensive processing and shipping. "Natural gas and shale gas are all bad for the climate. Liquefied natural gas (LNG) is worse," said Robert Howarth, lead author of the study and professor of ecology and environmental biology at Cornell University. In the United States, LNG is made up of gas that is mined from underground shale using a method called hydraulic fracturing, or fracking. This in itself is a controversial process, which critics say pollutes water supplies and air, as well as devastating habitat and biodiversity. Once it has been pulled from underground, the gas is piped to coastal processing plants and supercooled to around -161 degrees Celsius (-258 degrees Fahrenheit) to create a clear, colorless liquid. This liquified gas is much more compact, having been reduced to around 1/600th of its original volume. As such, it can be stored and transported long distances on "cryogenic" LNG tankers that keep the gas very cold, including to locations not accessible by pipelines. When the LNG arrives at purpose-built terminals, it is regasified and piped into the existing gas network. So while European countries once received most of their gas directly from Russia via land and sea pipelines, many have been building LNG terminals to ship gas primarily from the US, but also Qatar and from the US dropped by 19% in 2024 from the highs of the previous year. However, Russian supplies entring the bloc in 2024 went up by 18%. That is despite a commitment to phase-out imports from the country by 2027. Natural gas has long been touted as a "bridge" fuel to a fossil-free energy system because it has around half the carbon emissions of coal. This premise has helped governments claim that LNG is a relatively clean energy source. But beyond the potent methane emissions associated with shale gas fracking in the US — the source of most LNG in the country — supercooling, shipping and regasification require a lot of emission-intensive energy. Designating LNG as a green component of a climate-neutral energy future will be difficult as coal plants close and methane becomes the biggest greenhouse gas polluter. Methane is likely responsible for as much as 50% of temperature rise in the last decade, said Howarth at a Climate Change Conference in Bonn, Germany in June 2025. LNG is also expensive. Experts claim that energy produced using LNG costs up to five times more than renewables like solar and wind. So, where does this leave the decision by US states like Louisiana to relabel LNG as green and climate-friendly? As the window rapidly closes on keeping temperature rise below 2 degrees and avoiding "irreversible climate catastrophe" — already becoming evident in more extreme heatwaves and wildfires globally — Howarth cautions that Liquified Natural Gas has no place in a clean energy future. "LNG has the largest greenhouse gas footprint of any fossil fuel," he said. "There's simply no room for that." To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video


Int'l Business Times
2 hours ago
- Int'l Business Times
EU Climate VP Seeks 'Fair Competition' With China On Green Energy
The European Union is seeking "fair competition" with China and not a race to the bottom in wages and environmental standards, the bloc's vice president for the clean transition told AFP on Monday. Deep frictions exist over economic relations between the 27-nation bloc and Beijing. Brussels is worried that a manufacturing glut propelled by massive state subsidies could add to a yawning trade deficit and result in a flood of cheap Chinese goods undercutting European firms. Speaking during a visit to Beijing ahead of a major EU-China summit in the city this month, Teresa Ribera dismissed China's claims that the bloc was engaging in "protectionism". "We Europeans don't want to go down a race towards low incomes, lower labour rights or lower environmental standards," said Ribera, who also serves as the bloc's competition chief. "It is obvious that we could not be in a good position if there could be an ... over-flooding in our markets that could undermine us with prices that do not reflect the real cost," she said. The EU imposed extra import taxes of up to 35 percent on Chinese electric vehicle imports in October and has investigated Chinese-owned solar panel manufacturers. Asked whether EU moves against Chinese green energy firms could harm the global transition to renewables, Ribera said: "It is fair to say that, yes, we may benefit in the very short term." However, she also warned "it could kill the possibility" of long-term investment in the bloc's future. Ribera's visit comes as Beijing seeks to improve relations with the European Union as a counterweight to superpower rival the United States, whose President Donald Trump has disrupted the global order and pulled Washington out of international climate accords. "I don't think that we have witnessed many occasions in the past where a big economy, a big country, decides to isolate in such a relevant manner," she told AFP. "It is a pity. "The Chinese may think that the United States has given them a great opportunity to be much more relevant in the international arena," Ribera said. The visit also comes as the bloc and the United States wrangle over a trade deal. Trump threw months of negotiations into disarray on Saturday by announcing he would hammer the bloc with sweeping tariffs if no agreement was reached by August 1. Ribera vowed on Monday that the EU would "defend the interests of our companies, our society, our business". Asked if a deal was in sight, she said: "Who knows? We'll do our best." However, she insisted that EU digital competition rules -- frequently condemned by Trump as "non-tariff barriers" to trade -- were not on the table. "It's a question of sovereignty," Ribera said. "We are not going to compromise on the way we understand that we need to defend our citizens and our society, our values and our market."


DW
3 hours ago
- DW
Ukraine updates: US special envoy Kellogg arrives in Kyiv – DW – 07/14/2025
Keith Kellogg, US President Donald Trump's special envoy for Ukraine, has started his visit to Kyiv. Earlier, Trump announced that the US would send Patriot air defense systems to thw war-torn country. DW has more. Amid rising tensions between the United States and Russia, Keith Kellogg, the US president's Ukraine envoy, arrived in Kyiv to discuss security and sanctions against Moscow. Kellogg's visit is expected to last about a week. It follows Trump's announcement that the US would send Patriot air defense missiles to Ukraine. The US president's announcement of the weapons for Ukraine came after he said he would deliver a "major statement... on Russia" on special envoy Keith Kellogg arrived in Kyiv for an almost week-long visit focused on defense and sanctions talks. Andriy Yermak, President Volodymyr Zelenskyy's top aide, posted a video on X showing his welcome of Kellogg at the Kyiv railway station. "We welcome US Special Representative Keith Kellogg to Ukraine," Yermak wrote on Telegram, adding "peace through strength is the principle of US President Donald Trump, and we support this approach." "Defense, strengthening security, weapons, sanctions, protecting our people, strengthening cooperation between Ukraine and the United States — there are many topics to discuss," Yermak wrote. In his evening address on Sunday, Zelenskyy said that he had instructed military commanders to present Kellogg with information on Russia's capabilities and Ukraine's prospects. Earlier this month, Washington said it would pause some arms deliveries to Kyiv, but Trump recently changed course, criticizing Russian President Vladimir Putin for intensifying attacks as US-led peace talks stalled. Welcome to DW's coverage of the latest developments in Russia's war in Ukraine. As Russia continues its full-scale invasion of Ukraine, US special envoy Keith Kellogg arrived in Kyiv for defense talks. On Sunday, President Donald Trump announced that the United States would send Patriot air defense systems to Ukraine. This announcement marked an abrupt change in Trump's position, as just two weeks ago the US paused the delivery of weapons to Ukraine. Stay tuned for more news and analysis.