President Donald Trump announced on Monday that countries without separate trade agreements with the United States could soon face tariffs ranging from 15% to 20%, a sharp increase from the general 10% rate imposed in April.
Speaking alongside UK Prime Minister Keir Starmer at his Turnberry golf resort in Scotland, Trump said the U.S. administration would soon notify around 200 countries of the new 'world tariff' rate. “It’ll probably be one of those two numbers,” he told reporters.
The move is part of Trump’s broader push to eliminate U.S. trade deficits by placing tariffs on nearly all trading partners. He has already imposed tariffs as high as 50% on some countries, including Brazil, which will take effect on Friday.
The sweeping tariff threat has triggered urgent negotiations from several nations- including India, Pakistan, Canada, and Thailand- all hoping to secure more favourable terms.
On Sunday, Trump announced a major trade agreement with the European Union featuring a 15% tariff on most EU exports, $600 billion in European investment in the U.S., and $750 billion in energy purchases over the next three years.
This followed a $550-billion deal with Japan and smaller pacts with Britain, Indonesia, and Vietnam. Negotiations continue with other nations, but with the Friday deadline approaching, chances for additional agreements are narrowing.
Trump emphasised his preference for a simplified tariff system over protracted trade talks. “We’re setting a tariff for essentially the rest of the world,” he said. “That’s what they’ll pay if they want access to the U.S. market. We can’t sit down and make 200 separate deals.”
Canadian Prime Minister Mark Carney said on Monday that talks with Washington were in an intense phase, acknowledging that Canada was still aiming to avoid the 35% tariff recently applied to some of its exports. He admitted that Canada which sends 75% of its exports to the U.S. would likely have to accept a certain level of tariffs.
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The U.S. military has said it carried out defensive strikes in southern Iran after boats were seen laying mines in the Strait of Hormuz. Meanwhile, U.S. Secretary of State Marco Rubio said peace talks could drag out for several more days while the language of a deal is finalised.
Muslim pilgrims are gathering gathering at Mount Mercy on the Plain of Arafat in Saudi Arabia to mark the Hajj pilgrimage’s most important day.
Emergency teams rescued 320 tourists stranded in 65 cable cars in Kashmir after a gondola disruption triggered a six-hour evacuation operation.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 26 May, covering the latest developments you need to know.
The inaugural Enhanced Games began in Las Vegas on Sunday (24 May), launching one of the most controversial experiments in modern sport, in which athletes openly compete using performance-enhancing drugs banned under traditional anti-doping rules.
A peace agreement between Washington and Tehran is yet to materialise, with U.S. President Donald Trump saying that negotiations are incomplete and an Iranian Foreign Ministry Spokesman saying that a deal isn't imminent.
A "largely negotiated" memorandum of understanding on an Iran peace deal would reopen the Strait of Hormuz, U.S. President Donald Trump said on Saturday, though the Iranian Fars news agency disputed that claim.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 25th May, covering the latest developments you need to know.
The World Health Organization warned on Monday that the fast-moving Ebola outbreak in the Democratic Republic of the Congo and Uganda was outpacing response efforts, with 220 suspected deaths reported so far.
Emergency teams rescued 320 tourists stranded in 65 cable cars in Kashmir after a gondola disruption triggered a six-hour evacuation operation.
Muslim pilgrims are gathering gathering at Mount Mercy on the Plain of Arafat in Saudi Arabia to mark the Hajj pilgrimage’s most important day.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 26 May, covering the latest developments you need to know.
FIFA has confirmed that Iran has moved its World Cup training base from the United States to Mexico, citing the ongoing war in the Middle East and related security concerns.
Farmers in Sudan say the war involving Iran is pushing up fuel and fertiliser prices, forcing many to cut back on planting and threatening food production in a country already struggling with widespread hunger.
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