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Trump Unleashes Tariff Surprises on Deadline Eve
Business Standard
|August 01, 2025
Mexico deal extended for another 90 days; China pact in the making
Donald Trump unleashed a series of tariff deals and demands on the eve of his Friday deadline, as the US President attempts to create a new global trade order.
Trump on Wednesday announced tariffs of 15 percent on imports from South Korea that matched the rate for neighboring Japan, and a painful 25 percent levy on imports from India.
He also slapped a 50 percent tariff on most Brazilian goods to fight what he has called a "witch hunt" against former President Jair Bolsonaro, but softened the blow by excluding sectors such as aircraft, energy, and orange juice from heavier levies. His administration also unveiled sanctions on the Brazilian supreme court justice who has been overseeing Bolsonaro's trial on charges of plotting a coup.
On Thursday, Trump said he had agreed with Mexican President Claudia Sheinbaum to extend an existing trade deal with Mexico for 90 days and continue talks over that period with the goal of signing a new deal.
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