Amid Backlash Over Epstein Files, Trump Administration 'Unseals' Other MAGA Grievances
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Hans India
12 minutes ago
- Hans India
Most of trade deals with countries finished by August 1: Trump
Washington: US President Donald Trump has said that his administration will have most of its trade deals with countries finished by August 1, as South Korea and other trading partners are striving to reach agreements to lower its "reciprocal" tariff rates by the negotiation deadline. During a press availability at the White House, Trump also said his administration might send close to 200 countries a letter on their tariff rate, which he said means, "They have a deal. It's done." South Korea has been cranking up its efforts to reach a deal with the United States to avoid or reduce the threatened 25 percent reciprocal tariffs, as well as sector-specific duties on automobiles and steel, as those levies would weigh heavily on the country's export-driven economy, said Yonhap news agency. "Aug. 1 is going to come, and we will have most of our deals finished, if not all," Trump told reporters before embarking on a trip to Scotland. "When those letters go out ... the page and a half ... That means they have a deal. It's done," he said. "They pay that tariff and that is the contract essentially." US President Donald Trump's administration continues to have "productive" negotiations with South Korea to reduce "unfair" trade barriers and enhance market access for U.S. businesses, a White House official said. South Korea has been making concerted efforts to reach a trade deal with Washington to reduce the threatened 25 percent "reciprocal" tariffs and sector-specific tariffs on steel and automobiles before August 1, when the reciprocal tariffs are set to take effect. "We continue to have productive negotiations with South Korea to reduce unfair trade barriers and improve market access for American firms," the official told Yonhap News Agency via email. The official's characterisation of the negotiations as "productive" raised cautious hope for headway in the trade talks, as Seoul has made proposals for bilateral cooperation in key strategic industry sectors, including shipbuilding, semiconductors and batteries. On Thursday, South Korea's Industry Minister Kim Jung-kwan and Trade Minister Yeo Han-koo met jointly with U.S. Commerce Secretary Howard Lutnick in Washington as part of their efforts to reach a trade deal with the Trump administration. Seoul's Finance Minister Koo Yun-cheol and Yeo had planned to have a "two-plus-two" meeting with Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer in the U.S. capital on Friday, but the meeting was postponed due to a scheduling conflict on Bessent's part. Earlier in the day, Trump said that his administration will have most of its trade deals with countries finished by Aug. 1. The president also said his administration might send close to 200 countries a letter on their tariff rate, which he said means, "They have a deal. It's done."
Time of India
24 minutes ago
- Time of India
Trump tariffs leave costly China supply question unanswered
President Donald Trump 's recent flurry of trade deals have given Asian exporters some clarity on tariffs, but missing are key details on how to avoid punitive rates that target China's supply chains. Trump unveiled tariffs of 20% for Vietnam and 19% for Indonesia and the Philippines, signaling those are the levels the US will likely settle on for most of Southeast Asia, a region that ships $352 billion worth of goods annually to the US. Explore courses from Top Institutes in Please select course: Select a Course Category Finance Healthcare Product Management Technology others healthcare Management MCA Operations Management Degree Design Thinking Others CXO Data Science Cybersecurity Artificial Intelligence Data Analytics Digital Marketing Leadership MBA Public Policy Data Science Project Management PGDM Skills you'll gain: Duration: 9 Months IIM Calcutta SEPO - IIMC CFO India Starts on undefined Get Details Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Fintech & Blockchain India Starts on undefined Get Details He's also threatened to rocket rates up to 40% for products deemed to be transshipped, or re-routed, through those countries — a move largely directed at curbing Chinese goods circumventing higher US tariffs. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Sleep Apnea Ruined My Life – Then I Found This Simple Trick Health Insight Undo But still unclear to manufacturers is how the US will calculate and apply local-content requirements, key to how it will determine what constitutes transshipped goods. Southeast Asian nations are highly reliant on Chinese components and raw materials, and US firms that source from the region would bear the extra tariff damage. That's left companies, investors and economists facing several unanswered questions about Trump's tariffs that appear aimed at squeezing out Chinese content, according to Deborah Elms, head of trade policy at the Hinrich Foundation in Singapore. Live Events 'Is that raw materials? All raw materials? Above a certain percentage?' she said. 'How about parts? What about labor or services? What about investment?' In an agreement with Indonesia last week, the White House said the two countries would negotiate 'rules of origin' to ensure a third country wouldn't benefit. The deal with Vietnam earlier this month outlined a higher 40% tariff rate for transshipped goods. And Thai officials, who have yet to secure a deal, detailed that they likely need to boost local content in exports to the US. Missing Details The Trump administration isn't providing much clarity on the matter right now. US officials are still working out details with trading partners and looking at value-based local content requirements, to ensure exports are more than just assembled imported parts, according to a person familiar with the matter, who didn't want to be identified discussing private talks. A senior Trump administration official also said this week that details on the approach to transshipment are expected to be released before Aug. 1, the deadline for when higher US tariffs kick in. Some factories are already adjusting their supply chains to comply with rules that will require more locally-made components in production. Frank Deng, an executive at a Shanghai-based furniture exporter with operations in Vietnam — and which gets about 80% of business from the US — said in an interview his firm is making adjustments as authorities appear to be more strictly enforcing country-of-origin rules. Vietnam has always had specific local content requirements for manufacturers, Deng added, including that a maximum of 30% of the volume of raw materials originates from China, and the value after production in Vietnam must be 40% higher than the imported raw materials. 'We've been struggling to meet all the standards so that we can still stay in the game,' Deng said. 'But I guess that's the only way to survive now.' For most of Southeast Asia, reducing the amount of Chinese-made components in manufacturing will require a complete overhaul of their supply chains. Estimates from Eurasia Group show that Chinese components make up about 60% to 70% of exports from Southeast Asia — primarily industrial inputs that go into manufacturing assembly. About 15% of the region's exports now head to the US, up about four percentage points from 2018. Local Content The US has become increasingly vigilant about China's ability to bypass US trade tariffs and other restrictions through third countries since Trump's first trade war in 2017. Thailand signaled its frustration over the lack of clarity for how much local content is needed in goods exported to the US to avert transshipment rates, but noted it will likely be much higher than a traditional measure of 40%. 'From what we've heard, the required percentage could be significantly higher, perhaps 60%, 70%, or even 80%,' Deputy Prime Minister Pichai Chunhavajira said July 14. 'Emerging countries or new production bases are clearly at a disadvantage,' he said, as their manufacturing capabilities are still at an early stage and must rely on other countries for raw goods. Vietnam, Thailand and Malaysia have all taken steps this year to address Trump's concerns, increasing scrutiny of trade that passes through their ports including new rule-of-origin policies that centralize processing and imposing harsh penalties on transshippers. Developing nations may still struggle to enforce Trump's rules or comply with the rules if it means going up against China, their largest trading partner and geopolitical partner. 'The reality is it's not enforceable at all,' said Dan Wang, China director at Eurasia Group. 'Chinese companies have all kinds of ways to get around it and those other countries have no incentive to enforce those measures, or capacity to collect the data and determine local content.'
Hindustan Times
32 minutes ago
- Hindustan Times
PM Narendra Modi tops ‘Democratic Leader Approval Ratings', Donald Trump not in top 5: Survey
Prime Minister Narendra Modi has once again topped the latest global list of 'Democratic Leader Approval Ratings' with a 75% approval score, according to data released by US-based business intelligence firm Morning Consult. PM Narendra Modi was followed by South Korean President Lee Jae Myung at 59%. Prime Minister Narendra Modi gestures during celebrations at the BJP headquarters after the party won the Delhi assembly election, (PTI file) Interestingly, US President Donald Trump is not in the top five and ranked eighth with under 45% approval. The latest Global Leader Approval Rating was conducted between 4 and 10 July 2025. Morning Consult used a rolling seven-day average of adult opinions across the countries surveyed, it said. Morning Consult is a US-based business intelligence and data analytics company. Morning Consult survey measures the public approval ratings of world leaders, particularly those of democratic countries, based on daily interviews with thousands of people across different nations. The survey found that three out of every four people surveyed had a positive view of Modi as a democratic leader. While a smaller section — 18% — didn't feel the same way, about 7% were unsure or didn't have a clear opinion. Modi was re-elected for a third term as India's prime minister in May 2024. South Korean President Lee Jae Myung ranked 2nd South Korean President Lee Jae Myung emerged as the second-most popular democratic leader in the world, with 59% of those surveyed giving him a thumbs-up. While 29% disapproved of his leadership, around 13% were unsure. That he secured the second spot is particularly notable, given that he has only been in office for about a month. US President Donald Trump secures 8th spot US President Donald Trump, who returned to power with a strong mandate last year, came in at number eight. Only 44% of participants approved of his leadership, a relatively low number given his recent election win. Observers believe some of his policy moves, including trade tariffs and domestic decisions, may have dented his popularity. Here's the full list: Rank Leader Country Approval No Opinion Disapproval 1 Narendra Modi India 75% 7% 18% 2 Lee Jae-myung South Korea 59% 13% 29% 3 Javier Milei Argentina 57% 6% 37% 4 Mark Carney Canada 56% 13% 31% 5 Anthony Albanese Australia 54% 11% 35% 6 Claudia Sheinbaum Mexico 53% 7% 40% 7 Karin Keller-Sutter Switzerland 48% 24% 28% 8 Donald Trump United States 44% 6% 50% 9 Donald Tusk Poland 41% 10% 49% 10 Giorgia Meloni Italy 40% 6% 54% View All Prev Next How BJP leaders reacted: Bharatiya Janata Party IT cell head Amit Malviya shared a post celebrating PM Narendra Modi's position as the world's most trusted and highest-rated global leader. 'Loved by over a billion Indians and respected by millions across the globe, PM Narendra Modi tops the Morning Consult Global Leader Approval Tracker once again — the highest-rated and most trusted leader worldwide. Strong leadership. Global respect. Bharat is in safe hands," Amit Malviya wrote on X. Union minister Sarbananda Sonowal also posted the list of leaders, hailing the Indian prime minister. 'Once again, Hon'ble PM Shri @narendramodi ji tops the Morning Consult Global Leader Approval Tracker, emerging as the world's most trusted and highest-rated leader. Backed by over a billion Indians. Admired across continents. His strong, decisive leadership ensures Bharat's rise and the world's respect,' Sarbananda Sonowal posted on X.
