Big Countries Get Ready for US Trade Deadline ⏰
Hey there! Have you heard about what’s happening with trade around the world? Some of the biggest countries, like those in Europe, Japan, India, and China, are talking about how to handle upcoming changes in trade with the United States.
The United States has set a deadline for July 9th to make new trade agreements with other countries. If they can’t agree, the US might increase taxes (called tariffs) on goods coming into the country. This could make things more expensive for everyone!
Europe Says “We’re Ready!” 🇪🇺
Ursula von der Leyen, the President of the European Commission, said that Europe is ready to make a deal with the US. But if they can’t find a fair agreement, she says Europe will protect its own interests. That means they might also raise taxes on US goods coming into Europe.
Japan Wants to Invest, Not Have More Tariffs 🇯🇵
Japan’s Prime Minister, Shigeru Ishiba, mentioned that Japan invests a lot in the US and helps create many jobs there. He thinks that instead of adding more tariffs, the focus should be on investing in each other’s countries to help everyone grow.
But President Trump of the US is thinking about increasing tariffs on Japanese goods even more, up to 30% or 35%!
India’s “Red Lines” 🇮🇳
India and the US are having trouble agreeing on trade, too. They can’t agree on things like car parts, steel, and farm products. India says that agriculture and dairy products are very important to them, and they don’t want to make changes that could hurt their farmers.
China Hopes for Teamwork 🇨🇳
A spokesperson from China’s commerce ministry said that China and the US are working hard to make progress in their trade talks. They hope the US understands that working together can help both countries win!
Why Does This Matter?
When countries trade goods, it affects prices and jobs all around the world. If countries start adding more tariffs, it could make things like cars, electronics, and food more expensive. That’s why these trade talks are really important!
Let’s hope they can all reach agreements that help everyone! 🤝
Reference(s):
Major economies vow defense interests as US tariff deadline nears
cgtn.com
