Tue Jul 08 01:58:10 UTC 2025: **Summary:**

U.S. President Donald Trump announced that the U.S. is close to reaching a trade deal with India, alongside deals with the U.K. and China. This statement was made while also announcing new tariffs on 14 other nations, set to take effect on August 1st. These tariffs, ranging from 25% to 40%, are imposed on countries including Thailand, Myanmar, and South Korea, with a threat to increase them if these nations retaliate with their own tariffs on American goods. Trump claims these moves are aimed at creating fair trade and incentivizing participation in the U.S. economy. He initially unveiled these “reciprocal” tariffs in April, prompting market instability and leading to a three-month delay, which is now expiring.

**News Article:**

**U.S. Inches Closer to Trade Deal with India Amidst Global Tariff Blitz**

**Washington, D.C. – July 8, 2025:** The United States is reportedly on the verge of finalizing a trade agreement with India, according to President Donald Trump. The announcement came amidst a flurry of activity, including the imposition of new tariffs on 14 nations, signaling a continued aggressive stance on international trade.

Speaking at the White House during a meeting with Israeli Prime Minister Benjamin Netanyahu, President Trump stated that the U.S. had also secured trade agreements with the U.K. and China. He claimed the tariffs were aimed at countries unwilling to negotiate fair trade deals with the U.S.

The new tariffs, set to take effect on August 1st, target a wide range of countries, including Thailand, Myanmar, South Korea, Bangladesh, and Japan. The rates vary, with some nations facing levies as high as 40%. President Trump has threatened to escalate these tariffs if the affected countries retaliate with their own tariffs on American products.

“We’re close to making a deal with India,” Trump stated. “We’ve made a deal with United Kingdom. We’ve made a deal with China. Others we met with and we don’t think we’re going to be able to make a deal. So we just send them a letter.”

The President maintains that these measures are intended to level the playing field and encourage participation in the booming U.S. economy. He alluded to potential adjustments to the tariffs depending on individual countries’ circumstances.

This latest move follows Trump’s initial announcement of “reciprocal” tariffs in April, which triggered market volatility and led to a temporary pause to allow for further negotiations. With the deadline for those negotiations now expiring, the Trump administration appears determined to implement its trade agenda, despite potential global repercussions. The progress with India stands out as a potential win amidst the more contentious broader trade landscape.

Read More