The twice-delayed deadline could see higher duties imposed on economies with significant trade surpluses with the US, unless last-minute agreements are reached.
The EU agreement, announced Sunday, reduces tariffs on European exports to the US from a threatened 30 percent to 15 percent.
A government source told AFP that Tokyo’s successful agreement has increased urgency for Seoul.
National Security Advisor Wi Sung-lak confirmed negotiations are in their “final and most crucial phase” to avoid a 25 percent tariff.
Taiwan is working hard to secure favorable terms, with Premier Cho Jung-tai stating officials are negotiating around the clock. Vice President Hsiao Bi-khim emphasized efforts to protect Taiwan’s industrial interests and deepen US cooperation.
Brazil braces for political fallout. A 50 percent tariff on Brazilian exports, set for August 1, appears unlikely to be averted. The move is seen as politically motivated, with Trump citing Brazil’s treatment of his ally, former president Jair Bolsonaro.
With just days left, negotiations remain fluid. The outcome will shape global trade dynamics in the coming months. - AFP
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