President Trump has flagged that US tariffs on pharmaceutical imports are likely to kick in on Aug. 1, with duties on semiconductors also in line for implementation then too. “Probably at the end of the month,

The EU says the U.S. is resisting efforts to strike a trade deal and warned of countermeasures if no agreement is reached with U.S. by Aug. 1.

In letters so far to 14 countries, including smaller exporters to the United States such as Serbia, Thailand and Tunisia, Trump hinted at opportunities for additional negotiations, even while warning that reprisals would draw a like-for-like response.

Trump shared screenshots of letters detailing new tariff rates for over a dozen countries, allowing room for further negotiations before the renewed deadline of Aug. 1.

The Japanese government announced Tuesday it plans to negotiate with the Trump administration over a planned increase in the tariff rate placed on it, even if it was painful news to receive.

Most nations are still negotiating in hopes of avoiding punitive import taxes. At the same time, they’re looking for trading partners as a way around the United States.

Explore the ongoing trade tensions over tariffs as the EU warns the U.S. to reach a deal or face countermeasures.

Japan views tariffs on automobiles, one of the most important industries in the country, as a sticking point. Unlike most of the world, Japan remains intransigent on compromise.

The United States on Monday announced 25% tariffs on imports from Japan and South Korea, set to take effect on Aug. 1. These tariffs target major trading partners and focus on automobiles, electronics and industrial products,