These rates are typically triggered when imports exceed quota limits or originate from countries without trade preference agreements, a situation that affects many developing-country exporters.

US calls India ‘Tariff King’ even as its own agricultural tariffs cross 300%

Efforts to defuse the crisis have stalled. Brazilian diplomats say no new negotiations have occurred since May, when a counterproposal sent to Washington received no response.

Brazilian chemical sector hit hard as US tariff threat sparks contract cancellations

Donald Trump, before heading to Scotland on a private visit, said on July 25 that there is a 50-50 chance of a trade deal between Washington with the European Union. 

'50/50 chance, maybe less than that': Trump on tariff deal with EU

On Wednesday, peace talks between Russia and Ukraine were held in Istanbul, focusing on prisoner exchanges. However, a breakthrough on ceasefire terms or a direct summit between leaders appears distant, as per Reuters.

Oil prices rise on US trade optimism, sharp fall in crude stockpiles

Analysts note that dovish Fed signals may support gold, amid tariff concerns. Various Fed members are split on rate cuts, and geopolitical tensions persist, particularly following Japan recent election. Gold has gained over 25% this year but remains within a narrow price range.

Gold prices remain steady as markets await Fed, US trade moves

The trade deal between the US and Indonesia marks the fourth agreement announced in three months. Earlier this month, Trump announced a deal had been made with Vietnam, without sharing further information.

‘We cannot give more’: Indonesia says reaching trade deal with US was ‘extraordinary struggle’

Australia Treasurer Jim Chalmers seeks urgent clarity on Trump tariff plan targeting pharmaceutical imports, warning it could strain US and Australia trade ties and jeopardise affordable access to medicines under the PBS scheme.

Australia sounds alarm over Trump’s threat of 200% drug tariff

President Trump extends the tariff deadline, intensifying pressure on over 100 nations, including India and the EU to finalise trade deals or face renewed economic penalties.

Trump delays tariff hike to August 1, urges quick trade deals