Trump Postpones Tariffs as Shifts Continue
(MENAFN) US President Donald Trump has authorized a new executive directive that prolongs a previously declared August 1 cutoff date for implementing a range of tariffs, now delayed by one week.
The expansive order modifies tariff structures for numerous countries—some experiencing increases—while a few nations received unexpected exemptions at the last moment.
In a declaration made Thursday evening, the White House stated that the decision is based on whether various states have “agreed to, or are on the verge of agreeing to, meaningful trade and security commitments.”
Countries that either declined to enter discussions or presented proposals that “do not sufficiently address imbalances” will be subject to higher tariffs starting August 7.
India has been singled out for a 25% tariff rate after Trump levied further economic penalties on Wednesday in response to its persistent commercial engagement with Russia.
He indicated that the decision was influenced both by India’s participation in BRICS and what he described as a “tremendous” trade shortfall between Washington and New Delhi.
Some inconsistencies are evident in the tariff designations. For instance, Brazil has been assigned a 10% tariff, even though Trump had previously raised it to 50% just a day earlier, asserting that Brazil threatens “the national security, foreign policy, and economy” of the United States.
Trump has also previously warned of an additional 10% levy on all BRICS members, accusing the alliance of attempting to “destroy the dollar as the global standard.”
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
