logo
Trump says tariffs set to rise as high as 70%: White House to begin sending notices to countries; businesses await announcements

Trump says tariffs set to rise as high as 70%: White House to begin sending notices to countries; businesses await announcements

Time of India17 hours ago
US President Donald Trump (AP)
US President Donald Trump said on Friday morning that he plans to bring back a set of tariffs he first put in place in April. He had paused them for 90 days to try and make deals with different countries, but most of those deals haven't materialised yet.
Now, US businesses don't know what tariffs they'll have to pay on many imported goods.
Some of the new tariffs might be even higher than the original ones.
Trump spoke briefly to reporters at Andrews Air Force Base after returning from a rally in Iowa on Thursday.
'So we're going to start sending letters out to various countries starting tomorrow,' he said, just hours after the House passed a major domestic policy bill.
'They'll range in value from maybe 60 or 70 per cent tariffs to 10 and 20 percent tariffs.'
He added his administration would keep sending more letters to countries each day until the 90-day pause ends on Wednesday. By then, he expects all the countries to be included. He added that smaller countries would be contacted last, and the US would start collecting the tariffs on August 1.
'It's a lot of money for the country, but we're giving them a bargain,' Trump said.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
3, 3.5 BHK & Duplexes at Lodha Elanor Thane
Lodha Elanor
Get Deals
Undo
'We've done the final form, and it's basically going to explain what the countries are going to be paying in tariffs.'
The original set of 'reciprocal' tariffs was placed on US trading partners and ranged from 11 per cent for the Democratic Republic of the Congo to 50 per cent for Lesotho. These tariffs were calculated using a formula based on how much each country buys from the US, even if the country was very small and didn't trade much.
These reciprocal tariffs were in addition to a 10 per cent 'baseline' tariff that applied to all countries.
A few days later, after the bond market reacted strongly to fears that global trade could come to a halt, President Trump changed his mind. The tariffs were lowered to 10 per cent for all countries, except China, which had its base tariff raised to 145 per cent.
Since then, countries have been rushing to make deals with the White House to bring more stability to their trade ties with the US.
China reached a temporary deal that brought its tariff down to 30 per cent. Britain made an agreement in early May to keep its duties at 10 per cent. And this week, Vietnam agreed to a plan that would set its tariffs at 20 per cent, along with higher taxes on Chinese goods passing through the country.
However, talks with other countries, including Japan, Malaysia, India, and the European Union, haven't led to much progress yet.
Some of whom Trump has called out for what he calls 'driving too hard of a bargain', including the European Union and Japan.
On Thursday, treasury secretary Scott Bessent said he thought about 100 countries would probably end up with at least a 10 per cent tariff rate, but more deals are still being worked out. "I think we're going to see a lot of action over the coming days,' he said. Last week, Bessent mentioned that some of the talks could continue until September 1.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Chhattisgarh HC terms exclusion of engineering graduates from Sub-Engineer posts 'arbitrary and discriminatory'
Chhattisgarh HC terms exclusion of engineering graduates from Sub-Engineer posts 'arbitrary and discriminatory'

Time of India

time17 minutes ago

  • Time of India

Chhattisgarh HC terms exclusion of engineering graduates from Sub-Engineer posts 'arbitrary and discriminatory'

The Chhattisgarh High Court has struck down a rule barring engineering graduates from applying for Sub-Engineer positions in the Public Health Engineering Department, deeming it discriminatory and unconstitutional. The Chhattisgarh High Court has struck down a rule barring engineering graduates from applying for Sub-Engineer positions in the Public Health Engineering Department, deeming it discriminatory and unconstitutional. The Chhattisgarh High Court has struck down a rule barring engineering graduates from applying for Sub-Engineer positions in the Public Health Engineering Department, deeming it discriminatory and unconstitutional. The Chhattisgarh High Court has struck down a rule barring engineering graduates from applying for Sub-Engineer positions in the Public Health Engineering Department, deeming it discriminatory and unconstitutional. The Chhattisgarh High Court has struck down a rule barring engineering graduates from applying for Sub-Engineer positions in the Public Health Engineering Department, deeming it discriminatory and unconstitutional. 1 2 RAIPUR: The Chhattisgarh High Court declared as "ultra vires" a rule that restricted engineering graduates from applying for Sub-Engineer posts in the Public Health Engineering (PHE) Department. The court stated that Rule 8 (II) Column (5) of Schedule-III, Serial No. 1, of the Chhattisgarh Public Health Engineering Department (Non-Gazetted) (Recruitment and Conditions of Service) Rules, 2016, is "illegal and without jurisdiction." Chief Justice Ramesh Sinha and Justice Bibhu Datta Guru delivered a common order on two writ petitions, filed by over two dozen individuals. The petitioners, holding graduate degrees in engineering, sought to participate in the direct recruitment examination for Sub-Engineer (Civil/Mechanical/Electrical) posts. The examination was scheduled for 27 April 2025, following an advertisement issued on 7 March 2025. The petitioners argued that the 2016 rules, which prescribed a three-year diploma as the only educational qualification for direct recruitment to Sub-Engineer posts, were discriminatory. They pointed out that for promotional quotas (5 per cent), both diploma and degree holders were eligible. They further highlighted that other state departments, such as the Public Works Department and CSPDCL, permitted both diploma and degree holders to apply for Sub-Engineer positions. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Providers are furious: Internet access without a subscription! Techno Mag Learn More Undo The petitioners' counsels Ajay Shrivastava, G P Mathur and Pratibha Sahu contended that an engineering degree is a higher qualification than a diploma, and thus, degree holders should not be barred from applying. They cited the Supreme Court's judgement in the Puneet Sharma & Others v. Himachal Pradesh State Electricity Board Limited & Another case, which directed states to allow degree holders to participate in recruitment processes. The State, represented by the Deputy Advocate General, argued that the 2016 rules maintained the same qualification criteria as the earlier 1979 and 2012 rules. The State also submitted that the 5% promotion quota for in-service candidates, which includes diploma and degree holders, was a separate provision for existing employees who may have acquired higher qualifications during their service. The Chhattisgarh Professional Examination Board (CGPEB), the recruiting agency, stated that it acts based on existing rules and departmental requisitions. The intervenors supported the State's contentions. The High Court observed that excluding degree holders, who possess superior knowledge and technical skills, was unreasonable and counterproductive to recruiting competent individuals. The court noted that this restriction undermined principles of fairness and equal opportunity, violating Articles 14 and 16 of the Constitution of India. 'The exclusion of degree holders, who possess the necessary knowledge and technical skills, from eligibility for the post is arbitrary, unreasonable, and counterproductive to the goal of recruiting competent individuals. It violates the principles of fairness, equal opportunity, and the fundamental rights under Articles 14, 16, and 21 of the Constitution. Notably, other state departments like Public Works and CSPDCL allow both Diploma and Degree holders for similar posts, making the exclusion in the Public Health and Engineering Department discriminatory,' the court stated. An interim order was issued on 25 March 2025, allowing degree holders to provisionally apply for the posts, subject to the final outcome of the petitions. The court clarified that this order would apply to all similarly situated candidates. Following the declaration of the rule as "ultra vires," the High Court has directed the respondent authorities to proceed with the selection process, ensuring that engineering degree holders are allowed to participate, provided they meet other prescribed criteria in the advertisement.

Hamas says it has given a ‘positive' response to the latest ceasefire proposal in Gaza
Hamas says it has given a ‘positive' response to the latest ceasefire proposal in Gaza

New Indian Express

time21 minutes ago

  • New Indian Express

Hamas says it has given a ‘positive' response to the latest ceasefire proposal in Gaza

DEIR al-BALAH, Gaza Strip: Hamas said Friday it has given a 'positive' response to the latest proposal for a ceasefire in Gaza but said further talks were needed on implementation. It was not clear if Hamas' statement meant it had accepted the proposal from U.S. President Donald Trump for a 60-day ceasefire. Hamas has been seeking guarantees that the initial truce would lead to a total end to the war, now nearly 21 months old. Trump has been pushing hard for a deal to be reached, and Israeli Prime Minister Benjamin Netanyahu is due to visit the White House next week to discuss a deal. The Hamas statement came as Israeli airstrikes killed 15 Palestinians in Gaza early Friday, while a hospital said another 20 people died in shootings while seeking aid. The U.N. human rights office said it has recorded 613 Palestinians killed within the span of a month in Gaza while trying to obtain aid. Most were killed while trying to reach food distribution points run by an Israeli-backed American organization, while others were massed waiting for aid trucks connected to the United Nations or other humanitarian organizations, it said. Efforts ongoing to halt the war Trump said Tuesday that Israel had agreed on terms for a 60-day ceasefire in Gaza, during which the U.S. would 'work with all parties to end the war.' He urged Hamas to accept the deal before conditions worsen. In its statement late Friday, Hamas said it 'has submitted its positive response' to Egyptian and Qatari mediators. It said it is 'fully prepared to immediately enter into a round of negotiations regarding the mechanism for implementing this framework.' It did not elaborate on what needed to be worked out in implementation. A Hamas official said the ceasefire could start as early as next week but he said talks were needed first to work out how many Palestinian prisoners would be released in return for each freed Israeli hostage and to specify the amount of aid that will enter Gaza during the truce. Hamas has said it wants aid to flow in greater quantities through the United Nations and other humanitarian agencies. The official spoke on condition of anonymity because he wasn't authorized to discuss the response with the press.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store