Trading partners scramble to achieve transactions with us before the deadline of Trumps for setting new rates | Today news

Washington – With the dramatic tariff increases of President Donald Trump at the point of the beginning, countries around the world struggled to finalize their trade frameworks with the United States on Thursday, determine what the tax rates are facing their goods and prepare for the unknown. Shortly before the Friday deadline for the start of rates, Trump said he would take a 90-day negotiation period with Mexico, one of the country’s largest trading partners, with the current 25% rates in place, lower than the 30% he had threatened earlier. “We avoided the tariff increase announced for tomorrow and we got 90 days to build a long -term agreement through dialogue,” Mexican leader Claudia Sheeinbaum wrote on X after a call with Trump that he called “very successfully” in terms of the leaders who know each other better. White House press secretary Karoline Leavitt said during the news release on Thursday that Trump would sign an order “at some point this afternoon or later tonight” to set up new rates from 12:01 EDT Friday. Countries that have not yet received a prior letter from Trump or have negotiated a framework would be notified of their likely rates, whether by letter or executive order, she said. The unknowns created a sense of drama that defined Trump’s launch of rates over a few months, with the one consistency to charge the import tax that, according to most economists, will eventually be carried to some extent by US consumers and businesses. Trump imposed the deadline of Friday after his previous “Liberation Day” tariffs in April resulted in a panic of the stock market. His exceptionally high tariff rates unveiled in April led to the fear of the recession, which Trump asked to impose a 90 -day negotiation period. When he was unable to create enough trade transactions with other countries, he expanded the timeline and sent letters to world leaders who simply listed the rates, who requested a number of hasty transactions. Trump reached an agreement with South Korea on Wednesday, and earlier with the European Union, Japan, Indonesia and the Philippines. His secretary of the trade, Howard Lutnick, said on Fox News Channel’s “Hannity” that there were agreements with Cambodia and Thailand after agreed to a ceasefire for their border conflict. Some of those who are uncertain about their trading status were wealthy Switzerland and Norway. Norwegian Finance Minister Jens Stoltenberg said it was “completely uncertain” whether an agreement would be finalized before Trump’s deadline. But even the public announcement of an agreement can barely provide reassurance for a US trading partner. EU officials are waiting to complete an important document in which the framework to tax imported cars and other goods from the 27-member state block. Trump announced an agreement on Sunday while in Scotland. “The US has incurred these obligations. Now it is up to the US to implement it. The ball is in their court,” EU Commission spokeswoman Olof Gill said. The document would not be legally binding. As part of the agreement with Mexico, Trump said that goods imported in the US would continue to face a 25% rate of which he apparently linked to Fentanyl trade. He said cars face a 25% rate, while copper, aluminum and steel will be taxed at 50% during the negotiation period. He said Mexico would terminate his ‘non -tariff trading barriers’, but he did not provide details. Some goods are still protected from the 2020 US-Mexico-Canada agreement, or USMCA, which Trump negotiated during his first term. But Trump seems to have acquired the agreement, which is for renegotiation next year. One of his first important movements as president was to rate goods from Mexico and Canada earlier this year. The US Census Bureau figures show that the US had a $ 171.5 billion trade imbalance last year with Mexico. This means that the US bought more goods from Mexico than it sold to the country. The imbalance with Mexico grew in the aftermath of the USMCA, as it was only $ 63.3 billion in 2016, the year before Trump began his first tenure. In addition to addressing fentanyl trade, Trump made it the goal of closing the trading gap. Associated Press writers Lorne Cook in Brussels and Jamey Keaten in Geneva contributed to this report. This article was generated from an automated news agency feed without edits to text.