President Donald Trump announced a sweeping new trade agreement with South Korea Thursday evening, securing $350 billion in Korean investments into the U.S. economy and committing Seoul to a $100 billion purchase of American energy. The agreement also imposes a 15 percent tariff on South Korean goods, significantly undercutting the country's long-standing advantages in the U.S. auto market.
South Africa’s top foreign policy official is accusing the United States of jeopardizing a trade agreement by demanding reforms to controversial domestic policies. With the August 1 deadline for a deal fast approaching, Director-General Zane Dangor claimed U.S. focus on “non-trade” issues—specifically Black Economic Empowerment (BEE)—is the primary obstacle to reaching an agreement.
President Donald Trump has struck a historic trade deal with European Commission President Ursula von der Leyen, drawing both praise and fury across the European continent. The agreement, which promises $750 billion in EU energy purchases, up to hundreds of billions in U.S. military hardware, and $600 billion in EU investment in American businesses, comes at the cost of a 15% baseline tariff on European imports to the United States.
On Thursday’s broadcast of The Ingraham Angle, Commerce Secretary Howard Lutnick claimed tariffs “paid for tax on tips and no tax on overtime,” while warning that the U.S. must reduce its trade deficit. Lutnick emphasized that tariffs directly support tax reforms and bolster American revenue.
President Trump locked in new trade pacts with the Philippines and Indonesia on July 22, imposing 19% tariffs on their exports to the United States while demanding zero tariffs on American goods.
Prime Minister and Crown Prince of Bahrain, Salman bin Hamad bin Isa Al Khalifa, met with President Donald Trump on Wednesday, declaring that the country will invest $17 billion into the United States.
Australian Prime Minister Anthony Albanese arrived in China this weekend, leading a large business delegation in a diplomatic push to stabilize and expand trade relations. His visit, which includes meetings with top Chinese officials like President Xi Jinping and Premier Li Qiang, marks a shift from years of strained ties under the previous conservative government.
