Trump “absolutely” going to renegotiate USMCA, Lutnick says
“The review, part of the agreement’s sunset clause, allows the deal to be assessed every six years and sets it to expire after 16 years unless all parties agree to an extension.”
[U.S. Times Mirror]
South Korea industry minister says U.S. tariff talks in critical phase
“Kim pledged an all-out effort to smoothly wrap up the talks as August 1, the date when the U.S. has said its ‘reciprocal’ tariffs will take effect, approaches, the ministry said.”
[Reuters]
U.S. team to visit India in August for next round of talks for trade pact
“Issues related to agriculture and automobiles are learnt to have figured during the fifth round of negotiations. Matters related to ways to deal with non-market economies, and SCOMET (Special Chemicals, Organisms, Materials, Equipment, and Technologies) also came up for discussion.”
[The Economic Times]
Indonesia still negotiating details, exemptions on U.S. tariff deal, official says
“Indonesia has asked the United States to exempt its exports of cocoa, rubber, crude palm oil, coffee and nickel from the levy, he said, adding that U.S. technology products will also be exempted from Indonesia's ‘local content’ rules, which require companies to use locally-made components in its manufacturing.”
[Reuters]
Philippines' Marcos to meet Trump hoping to secure trade deal
“‘I expect our discussions to focus on security and defense, of course, but also on trade,’ Marcos said before leaving Manila. ‘We will see how much progress we can make when it comes to the negotiations with the United States concerning the changes that we would like to institute to alleviate the effects of a very severe tariff schedule on the Philippines.’”
[Reuters]
Thailand says nearing deal with U.S. to lower 36% import tariff
“Mr Pichai expects Thailand to get a new tariff rate that’s in line with its neighbours. President Donald Trump previously has announced deals for 20% tariffs on Vietnamese goods and 19% for Indonesia.”
[Bangkok Post]
Pakistan, U.S. near breakthrough as trade talks enter final stage
“Islamabad has responded by offering to import more US goods, including crude oil, and by opening investment opportunities in key sectors such as mining, digital infrastructure, and technology.”
[Dawn]
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