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Trump in trade talks with India, Israel, Vietnam as tariff deadline approaches: Report
Donald Trump’s sweeping tariffs face backlash from markets, foreign governments, US companies, and even the Federal Reserve chief and key lawmakers.
To avoid new tariffs ahead of a looming deadline, the US is holding trade talks with Vietnam, India, and Israel, with President Donald Trump personally engaging with representatives from these countries, CNN reported, citing a source.
Trump said in a social media post that Vietnam’s Communist Party general secretary, Tô Lâm, proposed cutting tariffs to zero if both sides can reach a mutual agreement.
In its report citing a senior adviser, CNN said countries such as Vietnam, India, and Israel are looking to fast-track trade talks, with President Donald Trump personally involved in efforts to finalise individual agreements ahead of a looming tariff deadline.
The discussions, if successful, could offer Trump a possible route to avoid imposing the proposed tariffs, the report added.
Trump imposed a 27 per cent tariff on all Indian goods through a new executive order, despite initially showing a 26 per cent rate during a briefing at the White House Rose Garden.
However, the annex of the order listed the higher figure, which was later corrected back to 26 per cent the next day. Although the difference is minor for most exporters and Indian officials, the back-and-forth drew attention to the rollout process.
India was not the only country to see changes. Of the 57 nations hit with reciprocal tariffs, 17 others also had their rates adjusted—each by exactly one percentage point.
The broad sweep of Trump’s new tariffs has triggered pushback on multiple fronts, from a market downturn and threats of foreign retaliation to criticism by US companies and scepticism from the Federal Reserve chairman and key lawmakers.
US markets tumbled for the second consecutive day on Friday after China announced plans to impose 34 per cent retaliatory tariffs on American goods.
The move underscored the limits of President Donald Trump’s control over global economic reactions, as his administration attempts to navigate a risky and historic trade strategy.
