What is the status of US tariff negotiations?

WASHINGTON — US tariff negotiations with key trading partners have shifted into high gear as economies race to avoid steeper duties before an Aug. 1 (Aug. 2 in Manila) deadline.

Many of these tariff hikes were part of a package first announced in April, under which dozens of economies were due to face higher levies — up from a 10 percent level — over their trade surpluses with the United States.

The twice-postponed deadline for duties to take effect is on Friday (Saturday in Manila), Aug. 1.

But Washington has expanded its group of targets coming up against these tariffs, while announcing agreements with the European Union, Britain, Vietnam, Japan, Indonesia and the Philippines.

A deal with the European Union unveiled on Sunday sees a 15 percent tariff imposed on European exports to the United States, down from the 30 percent that Trump earlier threatened.

Where do other US trade talks stand?

South Korea: Heightened pressure

Seoul is racing to reach a deal with Washington, as Tokyo’s success in landing an agreement has “amped up the pressure for South Korea,” a government source told Agence France-Presse (AFP).

Local media reported that Seoul was preparing to propose more than $100 billion in investment as part of a broader agreement, with expected participation by major firms such as Samsung and Hyundai Motor. The South Korean government did not confirm this.

But South Korean officials have outlined proposals to deepen collaboration in sectors like shipbuilding, semiconductors and batteries.

National Security Advisor Wi Sung-lak has told reporters that the two countries are in “the final and most crucial phase of negotiations” to avert Trump’s proposed 25 percent duty.

India: Cautious optimism

Indian Commerce Minister Piyush Goyal told Bloomberg Television Thursday that he was optimistic his country could reach an agreement with the United States to avert Washington’s 26 percent tariff threat.

Goyal insisted there were not any sticking points in the US-India relationship or in trade talks, and clarified that immigration rules — including those around H-1B visas for skilled workers — had not come up in negotiations.

Despite Goyal’s remarks, local media reported the prospects of an interim deal before Aug. 1 had dimmed.

Taiwan: Working hard

Taiwanese Premier Cho Jung-tai said Thursday that officials are “working hard” on negotiations, amid worries that an unfavorable tariff level could hit the self-ruled island’s economy.

Vice President Hsiao Bi-khim said Taipei’s negotiating team was “working almost 24 hours a day to achieve trade balance and Taiwan’s industrial interests, and even to further deepen cooperation.”