• Trump confirms tariffs of 15-20% for countries without trade agreements.
• August 1 deadline for new tariffs approaches, prompting intense negotiations.
• Major trade deals secured with the EU, Japan, and the UK among others.

U.S. President Donald Trump announced that tariffs for most countries not securing individual trade agreements will range between 15% and 20%. This follows the earlier imposition of a broad 10% tariff established in April. Trump stated, "I would say it'll be somewhere in the 15 to 20% range," indicating an enforcement deadline of August 1 for the new rates, prompting negotiations across numerous nations, including Canada and India, to avoid these higher charges, according to India Times, CBS News, and Bangkok Post.

As negotiations ramp up, Trump's administration has reached significant trade agreements, notably with the European Union, establishing a 15% tariff on EU goods and pledging $750 billion in energy purchases along with $600 billion in investments in the U.S. Conversely, if no agreements are reached, tariffs may increase to levels as high as 50% for certain countries, further intensifying the need for swift negotiation maneuvers, reports The Hill and The Jakarta Post.

Trump's existing deadline has triggered a flurry of activities where countries are racing to finalize favorable terms. For instance, new deals involving Japan, the UK, and Indonesia have recently been cemented, focusing on tariff reductions from previously proposed higher rates. These developments signify Trump's commitment to resolving trade deficits through straightforward tariff implementations rather than complex negotiations over hundreds of separate agreements, according to India Times and CBS News.