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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Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concerns over potential disruption to regional oil supplies.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Only four commodity vessels crossed the Strait of Hormuz on Sunday, following 13 transits a day earlier, as disruptions continue to restrict traffic through the key energy chokepoint.
Secretary of State Marco Rubio told allied foreign ministers Washington will focus on sanctions and other pressure on Iran “for the time being”, Axios reports. Meanwhile, Iran and Oman have resumed talks on a temporary shipping route through the Strait of Hormuz.
Russia and Ukraine have exchanged 10 prisoners of war each in Belarus, Moscow's Human Rights Commissioner, Yana Lantratova, has said.
Russia and Ukraine have exchanged 10 prisoners of war each in Belarus, Moscow's Human Rights Commissioner, Yana Lantratova, has said.
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Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 26th of August, covering the latest developments.
U.S. President Donald Trump has formally sent a landmark nuclear cooperation agreement with Saudi Arabia to Congress, opening a new phase in a deal that has already sparked debate over nuclear proliferation and Riyadh's ambitions.
The Trump administration has temporarily suspended some visa appointment scheduling at U.S. embassies and consulates around the world as part of a new training initiative for consular staff, adding another layer to the administration's broader immigration policy overhaul.
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