Trump, Deal and Trade War
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Uncertainty persists about when a trade agreement between the U.S. and EU may be struck. U.S. President Donald Trump has suggested an agreement could come as soon as this week, however. The European Union (EU) is stuck in limbo as uncertainty persists around when a trade agreement with the U.S. might be reached.
Trump wants to impose a 25% tariff on South Korea, but it's been postponed. Will three more weeks be enough time to negotiate? Will there be another extension?
Tariff negotiations between the two top trading partners are on a different track from those the U.S. is pursuing with other nations. But Canada may not get a better outcome.
The U.S. and China have reached an agreement — again — to deescalate trade tensions. China is making it easier for U.S. companies crucial magnets and rare earths materials.
Two of the sources said the framework may be similar to the one agreed with Britain in May. In that deal, the U.S. cut tariffs on British-made cars to 10% and British carmakers received a import quota of 100,000 cars a year at the lower tariff rate, almost the total Britain exported last year.
The Trump administration initially expected to conclude multiple trade deals by the end of the 90-day pause but found that trade negotiations take time.
President Donald Trump and his advisers promised a lightning round of global trade negotiations with dozens of countries back in April.
Canada is seeking to finalise a free trade deal with Southeast Asian nations as part of a push to expand into new markets, its top diplomat said, responding to the hefty tariffs imposed on it by the United States,
Asian stock markets mostly advanced around midday Tuesday, after President Trump unveiled a three-week extension to negotiate trade agreements, spurring mild hopes for deals following punishing U.S. tariffs.