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Business Standard
24 minutes ago
- Business Standard
US tariffs to take effect on August 1, says Trump as deals near completion
US President Donald Trump announced that country-specific tariffs will officially take effect on August 1, offering brief relief to trading partners who were previously facing a July 9 deadline. Commerce Secretary Howard Lutnick confirmed the revised deadline, stating it provides countries with a final opportunity to negotiate with the US. In comments made to reporters on July 6, Trump revealed that he expects the majority of trade agreements to be finalised by July 9, according to a Reuters report. He added that while some countries would receive letters outlining higher tariffs, deals could be signed with others. Trump indicated that the letters, signalling impending tariff hikes, would begin going out on July 7, with some possibly arriving the following day. He noted that the process will involve a combination of formal letters and completed trade deals. 'I believe we'll have most countries sorted by July 9, either through a letter or a deal,' Trump said before boarding Air Force One to return to Washington after a weekend in New Jersey. 'We've also made deals, so we'll have a mix of letters and agreements in place,' Trump added, though he did not specify which countries or groups would fall into either category. Trump's Liberation Day tariffs and what followed Trump had initially announced a base tariff of 10 per cent on most of America's trading partners earlier this year, with the possibility of additional duties reaching up to 50 per cent. However, in response to growing global financial concerns, the US president delayed the full enforcement of tariffs, with only the 10 per cent increase taking effect on July 9. This new delay offers an additional three-week window for further negotiations before the full set of tariffs, including those above 10 per cent are implemented. Lutnick further clarified that, despite the new August 1 deadline, President Trump is already in the process of finalising tariff rates and trade agreements, with many of the deals expected to be concluded in the coming days. While the details of the new tariffs remain unclear, these developments highlight the Trump administration's concerted effort to reshape global trade in its favour, focusing on reducing trade deficits and securing more favourable terms for American businesses.
The Hindu
28 minutes ago
- The Hindu
Nadda inaugurates six BJP offices in Delhi and Haryana
BJP ideologue Dr Syama Prasad Mookerjee never clung to positions of power but remained unwavering in his commitment to ideology and even sacrificed his life for it, party national president and Union Health Minister Jagat Prakash Nadda said on Sunday (July 6, 2025). Mr. Nadda was addressing party workers and leaders after digitally inaugurating six new party offices in Delhi and Haryana. Speaking on the occasion, he pointed out that the day carried an emotional significance to the BJP, as it coincidentally marked the birth anniversary of Syama Prasad Mookerjee. Emphasising Mookerjee's unwavering commitment to ideology, Mr. Nadda said, "He never compromised on his beliefs. India will always remain indebted to him, especially for his role in ensuring that West Bengal remained a part of the country." The Union Minister further highlighted India's strong stance on national security, referring to the surgical strikes after Uri and airstrikes after Pulwama. Citing the terror attacks that killed 26 people at Pahalgam in April, he noted that Prime Minister Narendra Modi vowed a response "beyond imagination", which led to Operation Sindoor that destroyed nine terrorist camps in Pakistan. Mr. Nadda congratulated BJP workers, who "made history" by helping to form a party government in Delhi after 27 years and to secure a third consecutive term in Haryana.
Mint
29 minutes ago
- Mint
‘Chance to have a deal with Hamas': Donald Trump says, ‘close to a deal on Gaza' ahead of Netanyahu's US visit
Ahead of his meeting with Israeli Prime Minister Benjamin Netanyahu in Washington, US President Donald Trump predicted that an agreement could be reached within the week with Tel Aviv on ceasefire talks, adding, 'close to a deal on Gaza'. Trump noted that he believed a hostage release and ceasefire deal could be reached this week, which could lead to the release of 'quite a few hostages.' "I think there's a good chance we have a deal with Hamas during the week," Trump told reporters before flying back to Washington after a weekend golfing in New Jersey. Donald Trump added, 'We are working on a lot of things with Israel, and one of the things is probably a permanent deal with are close to a deal on Gaza. We could have it this week.' Public pressure is mounting on Netanyahu to secure a permanent ceasefire and end the war in Gaza, a move opposed by some hardline members of his right-wing coalition. Others, including Foreign Minister Gideon Saar, have expressed support. Netanyahu expressed optimism that his meeting with US President Donald Trump on Monday would contribute to progress in negotiations for a Gaza hostage release and a ceasefire deal, as reported by Reuters. Ahead of his departure for Washington, Netanyahu stated on Sunday that Israeli negotiators participating in the renewed ceasefire talks in Doha had been given clear directives to secure a deal based on terms already accepted by Israel. 'I believe the discussion with President Trump can certainly help advance these results,' Netanyahu said, adding his determination to ensure the return of hostages held in Gaza and to remove the threat of the Palestinian militant group Hamas to Israel. It will be Netanyahu's third visit to the White House since Trump returned to power nearly six months ago. Palestinian group Hamas said on Friday it had responded to a U.S.-backed Gaza ceasefire proposal in a 'positive spirit', a few days after Trump said Israel had agreed 'to the necessary conditions to finalise' a 60-day truce, Reuters reported. But in a sign of the potential challenges still facing the two sides, a Palestinian official from a militant group allied with Hamas said concerns remained over humanitarian aid, passage through the Rafah crossing in southern Israel to Egypt and clarity over a timetable for Israeli troop withdrawals. The initial round of indirect ceasefire talks between Hamas and Israel in Qatar concluded without a breakthrough, two Palestinian sources familiar with the negotiations said early Monday. They noted that the Israeli delegation lacked the necessary mandate to finalise an agreement with Hamas. Netanyahu's office said in a statement that changes sought by Hamas to the ceasefire proposal were 'not acceptable to Israel'. However, his office said the delegation would still fly to Qatar to "continue efforts to secure the return of our hostages based on the Qatari proposal that Israel agreed to." Netanyahu has repeatedly said Hamas must be disarmed, a demand the militant group has so far refused to discuss. Netanyahu said he believed he and Trump would also build on the outcome of the 12-day air war with Iran last month and seek to further ensure that Tehran never has a nuclear weapon. He said recent Middle East developments had created an opportunity to widen the circle of peace. (With inputs from Reuters)
