U.S. President Donald Trump has said that he is ready to lower tariffs (taxes on imported goods) for countries that allow American businesses to access their markets more freely. He made this statement on the social media platform Truth Social.
Trump said, “I will always reduce tariffs if major countries open their markets to the USA. That’s the power of tariffs—without them, other countries won’t open up to us. We always want zero tariffs on American products!”
This statement comes as many countries are trying to make trade deals with the U.S. before Trump’s set deadline of August 1 for fair and equal tariffs.
Read more:Â Trump Signs Tariff Deal with Japan, Auto Stocks Jump Globally
Trump also announced that a new trade deal with Japan has been finalized. Japan had been paying a 15% tariff on its exports to the U.S., but under the new deal, that might change. He mentioned that Japan will now open its markets to American products, including cars, SUVs, trucks, agriculture, and even rice—which was not allowed before.
Trump said this deal happened because of the pressure from U.S. tariffs. He also noted that Japan has agreed to buy billions of dollars’ worth of military and other U.S. equipment.
Similarly, Trump said that Indonesia has, for the first time, agreed to fully open its market to the U.S. He believes American companies will benefit greatly from this deal.
Also See:Â Indonesia Makes $8B US Deal for Refineries After Tariff Cut Boosts Trade
He also mentioned that deals have been completed with Vietnam and the Philippines, with lower tariffs than previously threatened.
Meanwhile, trade talks with China are still ongoing. U.S. Treasury Secretary Scott Bessent said the August 12 deadline for a China deal may be extended, with new discussions planned in Sweden next week. Trump may even visit China as part of efforts to improve trade relations.
