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Trump inks deals with Japan, Philippines as Aug. 1 deadline approaches – National TenX News

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U.S. President Donald Trump has announced trade deals with Japan and a handful of other Asian countries that will relieve some pressure on companies and consumers from sharply higher tariffs on their exports to the United States.

A deal with China is under negotiation, with U.S. Treasury Secretary Scott Bessent saying an Aug. 12 deadline might be postponed again to allow more time for talks.

Steep tariffs on U.S. imports of steel and aluminum remain, however, and many other countries, including South Korea and Thailand, have yet to clinch agreements. Overall, economists say the tariffs inevitably will dent growth in Asia and the world.

The deals reached so far, ahead of Trump’s Aug. 1 deadline

Trump and Japanese Prime Minister Shigeru Ishiba announced a deal Wednesday that will impose 15 pe rcent tariffs on U.S. imports from Japan, down from Trump’s proposed 25 per cent “reciprocal” tariffs.

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It was a huge relief for automakers like Toyota Motor Corp. and Honda, whose shares jumped by double digits in Tokyo. Trump also announced trade deals with the Philippines and Indonesia. After meeting with Philippine President Ferdinand Marcos, Jr., Trump said the import tax on products from his country would be subject to a 19 per cent tariff, down just one per cent from the earlier threat of a 20 per cent tariff.


Click to play video: 'Some small auto businesses suffering under U.S. Tariff threats'


Some small auto businesses suffering under U.S. Tariff threats


Indonesia also will face a 19 per cent tariff, down from the 32 per cent rate Trump had recently said would apply, and it committed to eliminating nearly all of its trade barriers for imports of American goods. Earlier, Trump announced that Vietnam’s exports would face a 20 per cent tariff, with double that rate for goods transshipped from China, though there has been no formal announcement.

Talks with China may be extended

Negotiations with China are subject to an Aug. 12 deadline, but it’s likely to be extended, Bessent told Fox Business on Tuesday. He said the two sides were due to hold another round of talks, this time in Sweden, early next week. Meanwhile, Trump said a trip to China may happen soon, hinting at efforts to stabilize U.S.-China trade relations.

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A preliminary agreement announced in June paved the way for China to lift some restrictions on its exports of rare earths, minerals critical for high technology and other manufacturing. In May, the U.S. agreed to drop Trump’s 145 per cent tariff rate on Chinese goods to 30 per cent for 90 days, while China agreed to lower its 125 per cent rate on U.S. goods to 10 per cent. The reprieve allowed companies more time to rush to try to beat the potentially higher tariffs, giving a boost to Chinese exports and alleviating some of the pressure on its manufacturing sector. But prolonged uncertainty over what Trump might do has left companies wary about committing to further investment in China.

No deals yet for South Korea and other Asian countries

Pressure is mounting on some countries in Asia and elsewhere as the Aug. 1 deadline for striking deals approaches.

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Trump sent letters, posted on Truth Social, outlining higher tariffs some countries will face if they fail to reach agreements. He said they’d face even higher tariffs if they retaliate by raising their own import duties. South Korea’s is set at 25 per cent. Imports from Myanmar and Laos would be taxed at 40 per cent, Cambodia and Thailand at 36 per cent, Serbia and Bangladesh at 35 per cent, South Africa and Bosnia and Herzegovina at 30 per cent and Kazakhstan, Malaysia and Tunisia at 25 per cent.

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Click to play video: '‘Absolutely unacceptable’: EU warns Trump that 30% tariff would kill trade with the U.S.'


‘Absolutely unacceptable’: EU warns Trump that 30% tariff would kill trade with the U.S.


The status of talks with India remains unclear but progress appears to hinge on the country’s heavily protected farm sector. It faces a 26 per cent tariff.

Nearly every country has faced a minimum 10 per cent levy on goods entering the U.S. since April, on top of other sectoral levies.

Economists expect tariffs to sap growth even with trade deals

Even after Trump has pulled back from the harshest of his threatened tariffs, the onslaught of uncertainty and higher costs for both manufacturers and consumers has raised risks for the regional and global economy. Economists have been downgrading their estimates for growth in 2025 and beyond.

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The Asian Development Bank said Wednesday it had cut its growth estimate for economies in developing Asia and the Pacific to 4.7 per cent in 2025 and 4.6 per cent in 2026, down 0.2 percentage points and 0.1 percentage points.

The outlook for the region could be further dimmed by an escalation of tariffs and trade friction, it said. “Other risks include conflicts and geopolitical tensions that could disrupt global supply chains and raise energy prices,” as well as a deterioration in China’s ailing property market.

Economists at AMRO were less optimistic, expecting growth for Southeast Asia and other major economies in Asia at 3.8 per cent in 2025 and 3.6 per cent next year.

While countries in the region have moved to protect their economies from Trump’s trade shock, they face significant uncertainties, said AMRO’s chief economist, Dong He.

“Uneven progress in tariff negotiations and the potential expansion of tariffs to additional products could further disrupt trade activities and weigh on growth for the region,” he said.


&copy 2025 The Canadian Press



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“Unacceptable’: Allies react to Trump Greenland tariff threats – National TenX News

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World leaders are raising alarm after U.S. President Donald Trump threatened to impose sweeping tariffs on European allies in an effort to pressure Denmark into negotiations over Greenland.

The move is sparking protests across the Arctic and sharp rebukes from Europe and Canada.

On Saturday, thousands of people marched through snow and ice in Greenland’s capital, Nuuk, chanting “Greenland is not for sale,” waving national flags.

Police described the demonstration as the largest they have ever seen in the city.

About 825 kilometres away, dozens of people rallied in Iqaluit, Nunavut, in a show of solidarity with Greenlanders.

“Greenland is owned by the Greenlandic people,” protesters chanted in Inuktut as they marched for an hour in freezing, windy conditions.

The protests came as Trump announced he would impose a 10 per cent import tax starting next month on goods from eight European countries.

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These nations include Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland, because of their opposition to U.S. control of Greenland.

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The tariff would rise to 25 per cent on June 1 if no deal was reached for what Trump called the “Complete and Total purchase of Greenland.”

The president suggested the tariffs were leveraged to force talks over Greenland, a semi-autonomous territory of NATO ally Denmark that Trump says is vital to U.S. national security.

French President Emmanuel Macron said France stands firmly behind Greenland’s sovereignty and rejected the use of trade threats.


“Tariff threats are unacceptable and have no place in this context,” Macron wrote on social media, adding that Europeans would respond “in a united and coordinated manner” if the measures are confirmed.

British Prime Minister Keir Starmer said Greenland’s future is for Greenlanders and Denmark to decide.

“Applying tariffs on allies for pursuing the collective security of NATO allies is completely wrong,” Starmer said, adding the issue would be raised directly with the U.S. administration.

Bob Rae, former Canadian ambassador to the United Nations, also chimed in on Trump’s announcement.

The tariff threat could mark a significant rupture between the U.S. and its NATO allies.

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Greenland already hosts the U.S.-run Pituffik Space Base under a 1951 defence agreement with Denmark, supporting missile warning, missile defence and space surveillance for the U.S. and NATO.

“There is no sign of the Trump war of aggression against Greenland and Denmark letting up. It is not about ‘security’ any more than Venezuela was about ‘narco-terrorism.’ They are both about seizing control and plunder.”

He further added, “No country, including my own, Canada, is safe or secure.”

The tariff threat could mark a significant rupture between the U.S. and its NATO allies.

Trump is expected to face questions about the proposed tariffs and Greenland later this week.

He is scheduled to attend the World Economic Forum in Davos, alongside several European leaders he has threatened with tariffs.

— With files from The Canadian Press 

&copy 2026 Global News, a division of Corus Entertainment Inc.



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Canada talks trade with Qatar as Carney touches down in Doha – National TenX News

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Prime Minister Mark Carney arrived in Doha on Saturday as part of a push to attract foreign investment and deepen Canada’s economic partnerships beyond its traditional allies.

Carney’s visit comes on the heels of his visit to China and follows the recent presentation of a new federal investment budget aimed at positioning Canada as a stable, attractive destination for global capital.

In a news conference on Saturday, Finance Minister François-Philippe Champagne said Canada is working to broaden its economic relationships as global trade patterns shift.

Qatar is viewed by Ottawa as a strategic partner, with officials pointing to the country’s significant investment capacity and growing influence on the global stage.

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“We need to reduce our dependence and increase our self-reliance to find a strategic path forward,” Champagne said.

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“Engaging with the Middle East and China is necessary for Canada, just like our European partners have done,” Champagne added.  “We buy more from the U.S.A. than anywhere else, but the trading climate right now is different.”

The conference highlighted Canada’s industrial capacity and trade advantages as key selling points for potential investors.

Champagne also said international engagement is critical as Canada works to raise its profile among global investors.

“We are one of the G7s with very big industries. We build cars, planes, ships, we have an abundance of energy, and we are the only one with free trade with all G7,” Champagne said. “With the way the world is changing, you better diversify, supply chain is changing and we need to adapt.”

Prime Minister Carney is expected to meet with senior Qatari officials, including Emir Sheikh Tamim bin Hamad Al Thani, as well as representatives of the Qatar Investment Authority.

His office says the talks will focus on expanding trade access and forging partnerships in artificial intelligence, infrastructure, energy and defence.

The visit comes amid heightened geopolitical tensions in the region, though officials say the schedule remains unchanged.


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How could Canada, EU, NATO respond to a U.S. takeover of Greenland? – National TenX News

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The possibility of a forceful U.S. takeover of Greenland is raising many unprecedented questions — including how Canada, the European Union and NATO could respond or even retaliate against an ostensible ally.

A high-level meeting between Greenlandic, Danish and U.S. officials this week did not resolve the “fundamental disagreement” over the territory’s sovereignty but did set the stage for more talks. The White House made clear Thursday that U.S. President Donald Trump’s desire to control Greenland has not changed after the meeting.

“He wants the United States to acquire Greenland. He thinks it’s in our best national security to do that,” White House press secretary Karoline Leavitt said.

Denmark and European allies are sending more troops to the territory in a show of force and to display a commitment to Arctic security.


Click to play video: 'Trump says ‘not a thing’ Denmark can do if Russia or China wants to ‘occupy’ Greenland'


Trump says ‘not a thing’ Denmark can do if Russia or China wants to ‘occupy’ Greenland


Experts say there are other, non-military measures available in the event of a U.S. annexation or invasion of Greenland, or which could at least be threatened to try and get Trump to back down.

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Whether those economic measures are actually used is another matter, those experts say.

“I think it remains highly unlikely that we’ll get to that point where we have to seriously discuss consequences for a U.S. move on Greenland,” said Otto Svendsen, an associate fellow with the Europe, Russia, and Eurasia Program at the Center for Strategic and International Studies.

“So it remains contingency planning for a highly unlikely event. That being said … Denmark would certainly do everything in its power to rally a very robust European response.”

Here’s what that could entail.

EU trade, tech disruptions?

Experts agree the biggest pressure points that can be used in the U.S. surround trade and technology.

The European Parliament’s trade committee is currently debating whether to postpone implementing the trade deal signed between Trump and the EU last summer to protest the threats against Greenland, Reuters reported Wednesday.

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Many lawmakers have complained that the deal is lopsided, with the EU required to cut most import duties while the U.S. sticks to a broad 15 per cent tariff for European goods.

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An even bolder move would be triggering the EU’s anti-coercion instrument — known as the “trade bazooka” — that would allow the bloc to hit non-member nations with tariffs, trade restrictions, foreign investment bans, and other penalties if that country is found to be using coercive economic measures.

Although the regulation defines coercion as “measures affecting trade and investment,” Svendsen said it could feasibly be used in a diplomatic or territorial dispute as well.

“EU lawyers have proven themselves to be very creative in recent years,” he said.

However, David Perry, president of the Canadian Global Affairs Institute, said in an email that economic measures against the U.S. are unlikely “given the massive asymmetry in the defence and economic relationship between the U.S.” and other western nations.

“Any kind of sanction against the U.S. doesn’t make sense for the same reason they can impose tariffs on others: they have the power,” Perry added.


Click to play video: 'Denmark, U.S. still disagree on Greenland’s future after White House talks'


Denmark, U.S. still disagree on Greenland’s future after White House talks


Target U.S. tech companies?

The likeliest — and potentially least harmful — scenario for retaliation in the event of an attack on Greenland, Svendsen said, would be fines or bans against U.S. tech companies like Google, Meta and X operating in Europe.

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That’s because the Trump administration has taken particular focus on preventing what they call “attacks” on American companies by foreign governments seeking to regulate their online content or tax their revenues, which has led to calls on Canada, Britain and the EU to repeal laws like digital services taxes.

“I think that would be a really smart and targeted way to get to economic interests very close to the president, while minimizing the direct impact on the on the European economy,” Svendsen said, calling such a move “low-hanging fruit.”

He also compared a future U.S. tech platform ban to how Europe moved to wean itself off Russian gas after the full-scale invasion of Ukraine in 2022.

“If you told anyone back then that Europe would basically rid itself of its dependence on Russian gas basically within a two-year period … that would have been considered completely impossible,” he said.

“Weaning the European economy off of U.S. tech would certainly be painful in the short term, but they’ve proven that they can get off those dependencies quickly if there is political will behind it in the past.”

A U.S. hostile takeover of Greenland would mean the “end” of the NATO alliance, experts and European leaders have said.

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Trump himself has acknowledged it could be a “choice” between preserving the alliance or acquiring Greenland.

There is no provision within the NATO founding treaty that addresses the possibility of a NATO member taking territory from another, and how the alliance should respond to such an act.

A NATO spokesperson told Global News it wouldn’t “speculate on hypothetical scenarios” when asked how it could potentially act.


Click to play video: 'NATO countries concerned about Arctic security as Trump pushes for Greenland ownership'


NATO countries concerned about Arctic security as Trump pushes for Greenland ownership


“None of this would be actionable in a NATO sense,” Perry said. “It’s an alliance that’s organized to bind the U.S. to European security, and revolves around the U.S. So there’s no scenario of NATO doing that to the U.S.”

Denmark and other European nations could move to reduce or close U.S. military bases in their countries as a possible response, experts say.

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Balkan Devlen, a a senior fellow at the Macdonald-Laurier Institute and director of its Transatlantic Program, said in an interview that a U.S. annexation of Greenland would force Canada to focus entirely on boosting its defences in the Arctic.

That may include trying to decouple from NORAD, the joint northern defence network with the U.S., in favour of a purely domestic Arctic command, he said — although that process would take years and require Canada to increase defence spending even further.

“Never mind five per cent (of GDP) — we will probably need to go like seven, eight, nine per cent on defence spending to be able to do anything of that sort,” he said. “It’s not even clear that we’ll be able to have enough people to do that.”

Devlen added that any retaliatory action, whether military or financial, needs to be targeted and proportionate to what the U.S. does.

“The problem with nuclear options is that once you use it, it’s gone,” he said. “And if it doesn’t do the damage or make the change of behaviour on the other party, you’ve basically lost a lot of leverage and you might actually sustain a lot more loss yourself.”




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