{"id":309172,"date":"2025-08-01T12:00:28","date_gmt":"2025-08-01T12:00:28","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/309172\/"},"modified":"2025-08-01T12:00:28","modified_gmt":"2025-08-01T12:00:28","slug":"canada-rate-raised-as-deal-deadline-hits-dw-08-01-2025","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/309172\/","title":{"rendered":"Canada rate raised as deal deadline hits \u2013 DW \u2013 08\/01\/2025"},"content":{"rendered":"

Skip next section India engaged in trade talks with US<\/a><\/p>\n

08\/01\/2025August 1, 2025India engaged in trade talks with US<\/p>\n

India<\/a> is in trade talks with the United States to avoid a 25% tariff on Indian exports announced by President Donald Trump.\u00a0<\/p>\n

A US delegation is expected in New Delhi later this month, a source told the Reuters news agency.<\/p>\n

“We remain focused on the substantive agenda that our two countries have committed to and are confident that the relationship will continue to move forward,” India’s foreign ministry said in a statement.<\/p>\n

Analysts warn the tariffs could hit $40 billion in Indian exports and strain ties with the key US ally in Asia.<\/p>\n

On Wednesday, Trump also threatened to impose more penalties on India due to its trade with Russia and its membership in BRICS,<\/a> a group of major emerging economies.<\/p>\n

https:\/\/p.dw.com\/p\/4yO7B<\/p>\n

Skip next section Tariff tensions hit European shares<\/a><\/p>\n

08\/01\/2025August 1, 2025Tariff tensions hit European shares<\/p>\n

European stocks fell to a four-week low Friday as investors reacted to sweeping new US tariffs.<\/p>\n

President Donald Trump announced steep levies on exports from dozens of trading partners, including a 39% tariff on Swiss goods, ahead of a key trade deal deadline.<\/p>\n

The new rates are set to take effect August 7, but uncertainty remains over what Trump might do next.<\/p>\n

The pan-European STOXX 600 index dropped 1.3%, with Germany’s DAX and Denmark’s OMXC also posting sharp losses.<\/p>\n

Healthcare shares led the decline, falling sharply after Trump urged 17 major pharmaceutical firms to cut US drug prices. Denmark’s Novo Nordisk plunged nearly 5%, hitting a four-year low.<\/p>\n

Meanwhile, the US dollar headed for its strongest weekly performance in nearly three years against other major currencies.<\/p>\n

A large part of the dollar’s strength is due to investor belief that Trump’s tariffs have not harmed the US economy so far and have not significantly raised inflation.<\/p>\n

https:\/\/p.dw.com\/p\/4yNf2<\/p>\n

Skip next section WATCH: Trump tariffs hit businesses in South Africa’s auto industry<\/a>08\/01\/2025August 1, 2025WATCH: Trump tariffs hit businesses in South Africa’s auto industry<\/p>\n

South Africa is facing 30% tariffs on its US exports, after failing to secure a trade deal before Donald Trump’s deadline.<\/p>\n

The country’s automotive industry, which employs 115,000 people, now fears major job losses.<\/p>\n

DW’s Dianne Hawker reports.<\/p>\n

Trump tariffs hit businesses in South Africa’s auto industry

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https:\/\/p.dw.com\/p\/4yNZK<\/p>\n

Skip next section South Africa seeking deal before new August 7 deadline<\/a><\/p>\n

08\/01\/2025August 1, 2025South Africa seeking deal before new August 7 deadline<\/p>\n

Following the announcement that the Trump tariffs will come into effect on August 7, rather than August 1 as previously announced, South Africa<\/a> has said it will use the coming week to strike a new deal.<\/p>\n

The African country is currently facing a 30% tariff rate. Central bank governor\u00a0Lesetja Kganyago has estimated the tariffs could cost 100,000 jobs.<\/p>\n

“Within the window that’s still open, we’re hoping that we will find a way to settle this matter,” Ramaphosa told journalists.<\/p>\n

“So intensive negotiations are now under way,” he said. “Our task is to negotiate as strongly and as hard as we can with the United States,” he said. “Our objective, really, is to save jobs.”<\/p>\n

The US is South Africa’s second-biggest trading partner, after China, but Pretoria has said it will seek to boost its export markets, with Ramaphosa saying “it is too risky just to focus on one.”<\/p>\n

The Trump administration has taken a particularly aggressive stance against South Africa<\/a> since taking office, cutting vital aid and accusing it, without credible evidence<\/a>, of committing genocide against white farmers.<\/p>\n

South Africans angered by Trump’s ‘genocide’ claims

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https:\/\/p.dw.com\/p\/4yN3D<\/p>\n

Skip next section US reduces tariffs on Malaysia to 19%<\/a><\/p>\n

08\/01\/2025August 1, 2025US reduces tariffs on Malaysia to 19%<\/p>\n

The Trump administration has decided to lower the so-called “reciprocal” tariffs on\u00a0Malaysia<\/a> from 25%\u00a0to 19%, both countries have confirmed.<\/p>\n

The Malaysian government welcomed the\u00a0“positive outcome”.<\/p>\n

“This decision by the United States reflects the strong and enduring economic ties between our two nations,” Trade and Industry Minister Zafrul Abdul Aziz said.\u00a0 \u00a0 \u00a0\u00a0<\/p>\n

https:\/\/p.dw.com\/p\/4yMkl<\/p>\n

Skip next section India likely to call off US F-35 jet deal after Trump’s high tariff rates<\/a><\/p>\n

08\/01\/2025August 1, 2025India likely to call off US F-35 jet deal after Trump’s high tariff rates<\/p>\n

The Indian government is likely to cancel its defense deal with the US after the Trump administration’s decision to levy a higher tariff<\/a> rate of 25% to Indian exports.<\/p>\n

According to a Bloomberg report,\u00a0India<\/a> has informed the US\u00a0that it is not keen to buy the F-35 stealth fighter jets, which Donald Trump had proposed to sell to India during Prime Minister Narendra Modi<\/a>‘s visit to the US in February this year.<\/p>\n

However, India’s decision to cancel the deal has not been confirmed and Delhi has said it is looking to deepen trade talks with Washington as open as possible.<\/p>\n

https:\/\/p.dw.com\/p\/4yMp1<\/p>\n

Skip next section Canada says its ‘disappointed’ by Trump’s tariffs<\/a><\/p>\n

08\/01\/2025August 1, 2025Canada says its ‘disappointed’ by Trump’s tariffs<\/p>\n

Prime Minister Mark Carney<\/a> said Canada is\u00a0“disappointed” by Trump’s decision to go through with the tariff hike.<\/p>\n

US duties and tariffs will heavily affect lumber, steel, aluminum, and automobiles, Carney said in a statement.<\/p>\n

To justify the\u00a0step, the US\u00a0cited the cross-border flow of the highly addictive and deadly drug\u00a0fentanyl<\/a>, even though Canada accounts for just 1% of US\u00a0fentanyl imports and has been working intensively to further reduce the volumes, Carney added.<\/p>\n

Carney\u00a0said his government will diversify Canadian export markets and strengthen domestic investment in order to make “Canada strong.”<\/p>\n

“Canadians will be our own best customer,” Carney said, adding that “we can give ourselves more than any foreign government can ever take away by building with Canadian workers and by using Canadian resources to benefit all Canadians.”<\/p>\n

https:\/\/p.dw.com\/p\/4yMf9<\/p>\n

Skip next section Japan to continue talks with US over tariffs on automobiles<\/a><\/p>\n

08\/01\/2025August 1, 2025Japan to continue talks with US over tariffs on automobiles<\/p>\n

While Japan<\/a> has welcomed the newly announced reciprocal\u00a0tariff rates of 15%\u00a0\u2014 down from the threatened 25%\u00a0\u2014 it said that it will continue to discuss levies\u00a0on auto exports<\/a>, which were already facing 25% tariffs.<\/p>\n

As the third-largest auto manufacturer in the world, Japan now wants to know when those duties might be lowered.<\/p>\n

Japan “will continue to call on the US side promptly to take measures to implement the recent agreement, including reducing tariffs on automobiles and auto parts,” government spokesman Yoshimasa Hayashi said Friday.<\/p>\n

Confusion also surrounds Trump’s claim that Japan\u00a0\u2014\u00a0as a “signing bonus” \u2014\u00a0will invest $550 billion (\u20ac482 billion)\u00a0in America, which will recoup 90%\u00a0of the profits.<\/p>\n

Tokyo stocks soar as US trade deal signed

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https:\/\/p.dw.com\/p\/4yMdJ<\/p>\n

Skip next section Sri Lanka to continue negotations over US tariffs<\/a><\/p>\n

08\/01\/2025August 1, 2025Sri Lanka to continue negotations over US tariffs<\/p>\n

Sri Lanka<\/a> will continue trade dialogue\u00a0with US\u00a0officials, the South Asian nation’s treasury secretary said on Friday after President Donald Trump announced a ‘reciprocal’ tariff of 20% on imports from the country.<\/p>\n

The island nation “remains positive” that Sri Lanka and the US\u00a0can reach a mutually beneficial situation on tariffs, the official told the journalists.<\/p>\n

He said that he “is hopeful Sri Lanka\u00a0can maintain regional and international competitiveness with these tariffs.”<\/p>\n

https:\/\/p.dw.com\/p\/4yMcK<\/p>\n

Skip next section New Zealand seeks meeting with US trade representatives<\/a>08\/01\/2025August 1, 2025New Zealand seeks meeting with US trade representatives<\/p>\n

Trump administration’s\u00a0decision to levy 15% tariff on New Zealand<\/a>, has prompted Trade Minister Todd McClay to seek a meeting with US trade representatives and lobby for lower tariffs.<\/p>\n

It’s an increase from the original 10% baseline announced for New Zealand in April.<\/p>\n

He said New Zealand seems\u00a0to have been targeted with a larger tariff because the country records a trade deficit with the US, but that the gap of about half a billion dollars each year was “not significant or meaningful.”<\/p>\n

“We don’t think this is a good thing. We don’t think it’s warranted,”\u00a0McClay told Radio New Zealand Friday.\u00a0<\/p>\n

“I am seeking an urgent call with the US\u00a0Trade Representative to make New Zealand\u2019s position clear: this increase risks harming exporters and consumers of both countries,” he said in a statement.<\/p>\n

US firms now face an average tariff of 0.8% when exporting to New Zealand, according to McClay.<\/p>\n

New Zealand exports about 9 billion New Zealand dollars\u00a0($5.3 billion, \u20ac4.6\u00a0billion) of goods each year to the United States, its second largest market after China, meaning the increase would be “considerable” for exporters, he added.<\/p>\n

https:\/\/p.dw.com\/p\/4yMc8<\/p>\n

Skip next section Taiwan says 20% US tariff is temporary as talks continue<\/a>08\/01\/2025August 1, 2025Taiwan says 20% US tariff is temporary as talks continue<\/p>\n

Taiwan<\/a> President Lai Ching-te said Friday that the new 20% US\u00a0tariff on goods from the island is a temporary measure and that his government is working to secure a more favorable rate.<\/p>\n

“The 20% tariff rate was never Taiwan’s target to begin with. We will continue negotiations and strive for a rate that’s more favourable for Taiwan,”\u00a0Lai told reporters at a press briefing.<\/p>\n

The tariff was part of a broader executive order signed Thursday by US\u00a0President Donald Trump, which imposed duties ranging from 10% to 41% on imports from dozens of countries.<\/p>\n

While the 20% rate for Taiwan is lower than the 32% initially threatened in April, it is higher than the 15% applied to Japan<\/a>, South Korea, and the European Union.<\/p>\n

Taiwan recorded the sixth-largest trade surplus with the US\u00a0last year, exporting about $74 billion more than it imported, according to official figures.<\/p>\n

https:\/\/p.dw.com\/p\/4yMXF<\/p>\n

Skip next section Thailand, Cambodia welcome new US tariff rate<\/a><\/p>\n

08\/01\/2025August 1, 2025Thailand, Cambodia welcome new US tariff rate<\/p>\n

The governments of two Southeast Asian countries, Thailand and Cambodia, welcomed the 19% levy Washington announced for them, which are substantially lower than the rates Trump had previously announced.<\/p>\n

In April, Trump\u00a0announced “discounted reciprocal tariffs” of 36% on Thai goods and 49% on Cambodian products.\u00a0<\/p>\n

“This is the best news for the people and economy of Cambodia to continue to develop the country,” Cambodia’s Prime Minister Hun Manet wrote in a Facebook post.<\/p>\n

A Thai government spokesperson, meanwhile, called it a “major success.”<\/p>\n

“This finalized deal, setting US import tariffs at 19%, marks a major success for Thailand,” Thai government spokesman Jirayu Huangsab said in a statement.<\/p>\n

“It represents a win-win approach aimed at preserving Thailand’s export base and long-term economic stability.”<\/p>\n

The tariff announcement came days after the US president intervened to help broker a ceasefire between Thailand and Cambodia<\/a> following days of heavy border clashes between the two neighbors<\/a>, which left over 40 people dead and hundreds of thousands displaced.<\/p>\n

Thailand, Cambodia agree to ceasefire

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https:\/\/p.dw.com\/p\/4yMPL<\/p>\n

Skip next section US announces raising Canada trade tariffs from 25% to 35%<\/a><\/p>\n

08\/01\/2025August 1, 2025US announces raising Canada trade tariffs from 25% to 35%<\/p>\n

US President Donald Trump signed an executive order raising tariffs on Canadian goods<\/a> to 35% from 25% on all products not covered by the US-Mexico-Canada (USMCA) trade agreement<\/a>, the White House said.<\/p>\n

It added that goods transshipped to another country to evade the new tariffs will be subject to a transshipment levy of 40%.<\/p>\n

The increased tariff was the result of Canada’s “continued inaction and retaliation,” Washington said.<\/p>\n

“We haven’t spoken to Canada today. He’s [Canadian Prime Minister Mark Carney]\u00a0called and we’ll, we’ll see,” Trump told reporters during an event at the White House before the 35% rate was announced.<\/p>\n

US, Mexico agree on 90-day reprieve ahead of tariff deadline

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The new\u00a0tariffs on Canadian goods will be imposed on Friday.\u00a0<\/p>\n

https:\/\/p.dw.com\/p\/4yMOl<\/p>\n

Skip next section Trump slaps higher tariffs on dozens of countries<\/a><\/p>\n

08\/01\/2025August 1, 2025Trump slaps higher tariffs on dozens of countries<\/p>\n

President Donald Trump has\u00a0imposed\u00a0higher tariffs ranging from 10% to 41% on a number of economies.<\/p>\n

Rates were set at 25% for India’s exports to the US, 20% for Taiwan’s,<\/a> 30% for South Africa’s and as high as 41% for Syria’s.<\/p>\n

The tariff rate for Pakistan stands at 19%, while Israel, Iceland, Fiji, Ghana, Guyana and Ecuador will all be charged at 15%.<\/p>\n

The impoverished African nation of Lesotho, which had initially faced a 50% tariff, will now be hit with a 15% levy.<\/p>\n

https:\/\/p.dw.com\/p\/4yMOj<\/p>\n

Skip next section Trump signs order for new tariffs to go into effect in 7 days<\/a><\/p>\n

08\/01\/2025August 1, 2025Trump signs order for new tariffs to go into effect in 7 days<\/p>\n

The president has signed an executive order that would have new tariffs on a number of US trading partners to go into effect in seven days, on August 7, rather than on\u00a0August 1.<\/p>\n

The order applies to 68 countries and the 27-member European Union.<\/a><\/p>\n

Some of them had reached tariff-reducing deals, but others had no opportunity to negotiate with Washington.<\/p>\n

Countries not listed in the order would face a baseline 10% tariff.<\/p>\n

The Associated Press cited a senior US official as saying that the delay was down to the government needing time to harmonize the tariff rates.\u00a0<\/p>\n

The Trump administration has pushed back the tariff deadlines several times since first announcing them back in April.<\/p>\n

Trump’s tariff threats: Using trade as a weapon?

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