Trump Patience on Tariffs Runs Thin
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Facing renewed tariff threats, Jakarta must now weigh its commitment to a multipolar world against short-term economic interests.
While Mexico was spared from Trump's so-called "Liberation Day" tariff rollout on April 2, the 30% rate for the E.U. is 10% higher than what the president said he would apply to America's largest trading partner in April.
US President Donald Trump's surprise announcement of sweeping 30 per cent tariffs on European Union (EU) exports has provoked a fierce backlash across the bloc, with officials and industry leaders demanding a strong and united response amid continued trade talks.
Trump had set a July 9 deadline for countries to agree a trade deal, but officials now say tariffs will begin on 1 August as most nations across the world, including India, refused to be browbeaten.
Growth in oil demand is anaemic globally, with several countries in the crosshairs of US President Donald Trump tariff threats suffering drops, the IEA said Friday.