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Flurry of trade deals offers relief for some Asian nations
Financial Express Lucknow
|July 24, 2025
• US-Philippines trade talks yield modest tariff shift
US PRESIDENT DONALD Trump has announced trade deals with Japan and a handful of other Asian countries that will relieve some pressure on companies and consumers from sharply higher tariffs on their exports to the United States.
A deal with China is under negotiation, with US Treasury Secretary Scott Bessent saying an August 12 deadline might be postponed again to allow more time for talks.
Steep tariffs on US imports of steel and aluminum remain, however, and many other countries, including South Korea and Thailand, have yet to clinch agreements. Overall, economists say the tariffs inevitably will dent growth in Asia and the world.
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