Trump Tariffs Live Updates: Sri Lanka, Philippines, Iraq Among 7 Nations Hit With Up To 30% Tariffs
Trump Tariffs Live Updates: US President Donald Trump on Wednesday announced a new round of tariffs targeting several countries. The tariffs include 30% duties on imports from Algeria, Iraq, Libya and Sri Lanka; 25% on goods from Brunei and Moldova; and 20% on imports from the Philippines.
This comes after the US President had said that more countries would receive formal tariff notices by noon and the following morning.
'We will be releasing a minimum of 7 countries having to do with trade, tomorrow morning, with an additional number of countries being released in the afternoon. Thank you for your attention to this matter!' Trump posted on his Truth Social account.
Just a day earlier, Trump had announced new plans to impose a 10% tariff on goods from the BRICS nations — Brazil, Russia, India, China, and South Africa.
The President had also revealed the 50% tariff on copper and suggested that tariffs on pharmaceutical goods could rise to 200% within a year, adding to the ongoing uncertainty in global markets.
Jul 09, 2025 23:31 IST
Trump Tariffs Live: India Spared In Latest US Tariff Notices, Offers Exporters A Breather
India, currently negotiating a trade agreement with the US, has been noticeably excluded from the latest round of tariff letters issued by the Trump administration on Wednesday. This reprieve is expected to bring significant relief to Indian exporters, as both countries are actively engaged in talks aimed at deepening their economic relationship.
So far, at least 20 countries have received tariff notices from Washington. The list includes Bangladesh, Indonesia, Japan, South Korea, Malaysia, Thailand, South Africa, Bosnia and Herzegovina, Cambodia, Kazakhstan, Laos, Serbia, and Tunisia.
Jul 09, 2025 23:29 IST
Trump Tariffs Live: Trump Defends Tariffs, Says Billions Flowing In, Foreign Firms Rushing To Build In US
US President Donald Trump has doubled down on his aggressive tariff strategy, claiming it is bringing in 'hundreds of billions of dollars' to the US. Speaking about the economic impact, Trump said many companies are now opting to avoid these high duties by moving operations to the United States.
'We're taking in hundreds of billions of dollars… But more important than that, we have a lot of people that would rather not have pay that, so they're coming in and they're building plants… We're getting them fast approvals,' Trump said.
Jul 09, 2025 22:23 IST
Trump Tariffs Live Updates: Sri Lanka Slapped With 30% Tariff
The US imposed 30% tariff on Sri Lanka.
Jul 09, 2025 20:45 IST
Trump Tariffs Live: Indian Drug Prices For US Market May Rise As Trump Mulls 200% Import Tariff
Indian pharmaceutical companies may be forced to hike prices of medicines exported to the United States if the Trump administration moves ahead with its proposed import tariff of up to 200 per cent, industry sources have said. The sharp increase in duties could severely impact cost structures, especially for smaller drugmakers operating on narrow profit margins.
'It is still an evolving situation. We think that it (tariff) cannot be that much because it would also increase the cost for buyers in the US. In the worst-case scenario, if it happens, then we will have to increase the prices accordingly, we don't have a choice there as we operate on low margins,' a senior industry executive told PTI.
Jul 09, 2025 18:36 IST
Trump Tariffs Live: Bank Of England Warns US Tariffs Could Threaten UK Financial Stability
The Bank of England has warned that rising global tensions and unpredictable US tariffs could pose serious risks to the UK's financial system. In its latest half-year report, the Bank pointed to ongoing trade disputes between the US and China, along with conflicts in Iran, Gaza, and Ukraine, as key areas of concern.
'As an open economy with a large financial sector, these risks are particularly relevant to UK financial stability,' it added.
Jul 09, 2025 17:11 IST
Trump Tariffs Live: EU Races To Finalise Trade Deal With US Ahead Of Tariff Deadline
The European Union is pushing to secure a trade agreement with the United States within days to avoid the return of steep tariffs, an EU trade spokesman said on Wednesday. Talks have intensified following US President Donald Trump's decision to extend the tariff deadline from July 9 to August 1.
EU trade spokesman Olof Gill said the bloc is ready to strike a deal and that reaching an agreement now depends on both sides finding common ground. Without a resolution, the two powers risk reigniting a damaging trade war.
Jul 09, 2025 16:24 IST
Trump Tariffs Live: Trump's 50% Copper Tariff And 200% Pharma Threat: What It Means For India
Trump's tariff push on copper and pharmaceuticals is set to test India's export resilience. On July 8, US President Donald Trump announced a 50 per cent tariff on copper imports and said that tariffs on pharmaceutical imports could reach as high as 200 per cent within a year.
Jul 09, 2025 15:59 IST
Trump Tariffs Live: Global Markets Gain Ground Ahead Of Trump's New Tariffs
Global shares moved mostly higher on Wednesday, with investors reacting to ongoing trade negotiations sparked by the Trump administration's push for stronger deals. After a mixed session on Wall Street, early trading in Europe showed gains across major indexes — Germany's DAX rose 0.7%, the UK's FTSE 100 edged up 0.1%, and France's CAC 40 climbed 0.8%.
In Asia, Japan's Nikkei 225 closed 0.3% higher, while South Korea's Kospi added 0.6%, as both countries work to finalise trade agreements with the United States before new US tariffs take effect on 1 August. Meanwhile, futures for the S&P 500 and Dow Jones in the US were also up 0.1%, signalling cautious optimism among global investors.
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