Donald Trump tariffs: Which countries have made trade deals & which are still waiting? Top things to know

With a couple of days left before a major tariff hike kicks in, the US is in a flurry of trade negotiations with several key economies aiming to avoid steep new duties.The new US tariffs are set to take effect on August 1 after being delayed twice.

Some will go from 10% up to 50%, based on how much a country sells to the US.Donald Trump has repeatedly vowed to protect the ‘dominance of the dollar’ in his speeches, while mocking the Brics group on July 19.Over the past week, Washington has made agreements with the European Union, Britain, Japan, Vietnam, Indonesia and the Philippines. Other negotiations remain in their final stages.

India remains hopeful despite delays

Commerce minister Piyush Goyal said Thursday he was “optimistic” about reaching an agreement to avoid a 26 per cent duty.Goyal said there were “not any sticking points” in trade talks and clarified that H-1B visa rules had not come up, according to Bloomberg Television.

EU secures relief, others still in talks

On Sunday, the US and the European Union signed a new deal that limits tariff levels on European exports to 15 per cent. This duty is far lower than the 30 per cent previously threatened by US President Donald Trump. Meanwhile, attention has shifted to nations still on the edge of Trump’s tariff regime.

South Korea under pressure after Japan’s success

Seoul is scrambling to reach its own deal with Washington after Tokyo secured an agreement.“Japan's success has amped up the pressure for South Korea,” a government source was quoted as saying to news agency AFP.Seoul may offer more than $100 billion in investment, possibly involving tech giants like Samsung and Hyundai, according to a report cited by AFP. The government has not confirmed this, but officials have highlighted proposals to boost cooperation in areas such as shipbuilding, semiconductors and batteries.National security advisor Wi Sung-lak said talks are now in “the final and most crucial phase of negotiations” to stop the proposed 25 per cent tariffs.

Taiwan working ‘almost 24 hours’ to seal deal

Taiwanese officials are also racing against the clock. Premier Cho Jung-tai confirmed that his team is “working hard” to protect the island’s economic interests. vice president Hsiao Bi-khim added that negotiators were “working almost 24 hours a day to achieve trade balance and Taiwan's industrial interests.”

No clear path for Canada and Mexico

Canada and Mexico were initially exempt from Trump’s April tariffs but still face duties outside their North American trade pact. Mexico’s rate could rise to 30 per cent on August 1, while Canada may see a jump to 35 per cent. Mexican President Claudia Sheinbaum said she is prepared to speak directly with Trump to avert the hike. However, Trump said on Friday, “there was no deal with Canada so far.”

Brazil faces political hurdle

Brazil may be hit hardest, with the US threatening a 50 per cent tariff on goods including planes and grain. Though the US holds a trade surplus with Brazil, Trump openly linked the decision to politics. He accused Brazilian courts of pursuing a “witch hunt” against former president Jair Bolsonaro. Furthermore, Brazilian President Luiz Inácio Lula da Silva has vowed that the nation will not take orders from Trump.