Trump announces new tariffs as deadline nears

Trade Deadline Looms: Trump Imposes New Tariffs Amid Global Scramble

Washington D.C. - In a last-minute flurry of activity, governments scrambled to secure trade deals with the US as President Donald Trump announced new tariffs Wednesday, just hours before an August 1st deadline. South Korea managed to avoid steeper penalties by agreeing to a 15 percent tariff on exports to the United States.

Global Pressure Mounts

The move comes as international pressure mounts on Washington amid ongoing trade disputes. The US has imposed tariffs on billions of dollars worth of goods from major trading partners, sparking retaliatory measures and raising concerns about a global economic slowdown.

Deals Struck Amidst Uncertainty

Despite the looming deadline, several countries managed to reach agreements with the US in recent days. These deals aim to alleviate some of the trade tensions and ensure smoother commerce between nations.