President Donald Trump indicated significant progress towards a trade agreement with India during a recent White House briefing. Simultaneously, he announced fresh tariffs on 14 countries, including a 40% rate for Myanmar and the Lao People’s Democratic Republic, set to take effect on August 1st. Trump, speaking after meeting with Israeli Prime Minister Benjamin Netanyahu, confirmed that trade deals had been finalized with the UK and China. He also mentioned sending letters to nations where deals were unlikely, outlining tariff expectations. While specific details of the potential India deal remain unconfirmed, Trump’s statements suggest advanced negotiations. The newly imposed tariffs were communicated in official letters to the affected countries, which also include Bangladesh, Bosnia and Herzegovina, Cambodia, Indonesia, Japan, Kazakhstan, Malaysia, Republic of Serbia, Republic of Tunisia, South Africa, South Korea, and Thailand.
