08-05-2025
US Trade Deal Live News Updates: US to announce a major trade deal with "with representatives of a big, and highly respected, country", says Donald Trump
US Trade Deal Live News Updates: U.S. President Donald Trump said he will unveil a major trade deal during a news conference at the Oval Office on Thursday morning, but withheld key details, including the partner country's identity. In a post on Truth Social on Wednesday, Trump said the announcement would feature 'representatives of a big, and highly respected, country' at 10 a.m. EDT (1400 GMT). 'This will be the first of many,' he added, referring to potential trade agreements under his administration's revived protectionist agenda. The tease comes as Trump's trade team continues intense negotiations following his April 2 decision to impose a 10% tariff on most countries—though those duties were temporarily suspended for 90 days. In addition, the former president has levied much steeper tariffs on specific sectors and nations: 25% on autos, steel, and aluminum; 25% on Canada and Mexico; and a dramatic 145% on Chinese imports. While Thursday's announcement has sparked speculation, Trump has not confirmed which nation is involved. Last week, he hinted at potential trade agreements in the pipeline with India, Japan, and South Korea. On Tuesday, he said his administration would review 'several trade deals' over the next two weeks to decide which to proceed with, adding that the U.S. was now 'negotiating from a position of strength.' The moves mark a reassertion of Trump's hardline trade strategy, which he championed during his first term, arguing that America had been taken advantage of by long-standing trade imbalances and weak global enforcement mechanisms. With Thursday's unveiling, all eyes will be on whether the deal signals a broader shift in global economic alliances or a new wave of U.S.-first trade pacts.
South Korea presidential candidate Lee Jae-Myung: US-North Korea summit must restart
reports Reuters
Global temperatures stuck at near-record highs in April: EU monitor
Global temperatures were stuck at near-record highs in April, the climate change monitor Copernicus said Thursday, extending a prolonged and exceptional heat streak that has lasted nearly two years.
"Globally, April 2025 was the second-hottest April on record, continuing the long sequence of months" with temperatures more than 1.5 degrees Celsius above the pre-industrial baseline, said Samantha Burgess from the European Centre for Medium-Range Weather Forecasts, which runs Copernicus.
(reports AFP)
Japan defence minister Nakatani: North Korea's ballistic missile may have flown on an irregular trajectory
reports Reuters
US to announce trade deal with UK
reports New York Times
Iran FM Araghchi arrives in Delhi to strengthen ties at India-Iran Joint Commission Meet on 75th anniversary of Friendship Treaty
In a key diplomatic development aimed at bolstering strategic ties, Iran's Foreign Minister Seyed Abbas Araghchi arrived in New Delhi on Thursday to co-chair the 20th India-Iran Joint Commission Meeting.
The high-level dialogue comes as both nations mark the 75th anniversary of the India-Iran Friendship Treaty.
Official Spokesperson of the Ministry of External Affairs, Randhir Jaiswal, welcomed the visiting dignitary and highlighted the significance of the occasion.
In a post on X, Jaiswal said, "Warm welcome to FM Seyed Abbas Araghchi, as he arrives in New Delhi for the India-Iran Joint Commission Meeting. An opportunity to review and enhance bilateral cooperation on the 75th Anniversary of the India-Iran Friendship Treaty."
(reports ANI)
Quad conducts logistics network simulation in Hawaii to boost Indo-Pacific cooperation, MEA says
The Quad countries—Australia, India, Japan, and the United States—gathered in Honolulu, Hawaii, from April 28 to May 2 for a Tabletop Exercise (TTX) aimed at launching the Quad Indo-Pacific Logistics Network (IPLN), a key initiative to enhance regional coordination and maritime logistics.
The exercise, hosted at the Asia-Pacific Center for Security Studies, served as a simulation to develop and refine the IPLN, envisioned as a framework for operational cooperation among the four partners. According to India's Ministry of External Affairs (MEA), the IPLN reflects the Quad's broader commitment to a free, open, and inclusive Indo-Pacific.
"The IPLN, along with the Indo-Pacific Partnership for Maritime Domain Awareness (IPMDA), underscores the Quad's resolve to strengthen practical cooperation and collectively address regional challenges," the MEA said in a statement.
The simulation focused on sharing logistics capabilities and enhancing interoperability across humanitarian assistance, disaster relief, and defense operations. Officials and defense planners from all four countries worked together on scenarios requiring coordinated logistics responses across the vast Indo-Pacific maritime domain.
The IPLN is expected to complement existing Quad initiatives such as the IPMDA, which facilitates real-time information-sharing to monitor and respond to maritime activities across the region, particularly in areas prone to illegal fishing and unregulated vessel traffic.
The TTX also comes amid increasing concerns about coercive actions in the Indo-Pacific, with Quad members seeking to deepen security cooperation in ways that avoid overt militarization while reinforcing stability and rule-based norms.
The Quad's efforts in logistics and maritime awareness are widely seen as part of a broader strategy to provide credible, transparent alternatives to China's expanding influence in the region.
US to announce a major trade deal with "with a big, and highly respected, country", says Donald Trump
U.S. President Donald Trump said he will unveil a major trade deal during a news conference at the Oval Office on Thursday morning, but withheld key details, including the partner country's identity.
In a post on Truth Social on Wednesday, Trump said the announcement would feature 'representatives of a big, and highly respected, country' at 10 a.m. EDT (1400 GMT). 'This will be the first of many,' he added, referring to potential trade agreements under his administration's revived protectionist agenda.
The tease comes as Trump's trade team continues intense negotiations following his April 2 decision to impose a 10% tariff on most countries—though those duties were temporarily suspended for 90 days. In addition, the former president has levied much steeper tariffs on specific sectors and nations: 25% on autos, steel, and aluminum; 25% on Canada and Mexico; and a dramatic 145% on Chinese imports.
While Thursday's announcement has sparked speculation, Trump has not confirmed which nation is involved. Last week, he hinted at potential trade agreements in the pipeline with India, Japan, and South Korea.
On Tuesday, he said his administration would review 'several trade deals' over the next two weeks to decide which to proceed with, adding that the U.S. was now 'negotiating from a position of strength.'
The moves mark a reassertion of Trump's hardline trade strategy, which he championed during his first term, arguing that America had been taken advantage of by long-standing trade imbalances and weak global enforcement mechanisms.
With Thursday's unveiling, all eyes will be on whether the deal signals a broader shift in global economic alliances or a new wave of U.S.-first trade pacts.
(reported Reuters)
