WASHINGTON: Time is running short for governments to strike deals with Washington to avert tariff hikes that Donald Trump has vowed against dozens of economies — and the US president continues to expand his trade wars.
As the clock ticked down on a Friday deadline for higher levies to take effect on goods from various trading partners, Trump announced a trade deal with South Korea and separate duties on Brazilian and Indian imports.
He also signed an order Wednesday to impose previously-threatened 50 percent tariffs on certain copper products and end a tariff exemption for low-value shipments from abroad.
The tariff hikes due Friday were initially announced in April as part of a package where Trump slapped a 10 percent levy on goods from almost all trading partners — citing unfair trade practices.
This rate was set to rise to varying levels for dozens of economies like the European Union, Japan and others, but Washington twice postponed their implementation as financial markets gyrated.
