Thailand hailed its 19% tariff as a “major success.” Government spokesman Jirayu Huangsab stated, “This win-win approach protects Thailand’s export base and ensures long-term economic stability.”
The U.S. president explained he granted Mexico more time due to the complexities of their trade relationship. On social media, he wrote: “We’ll negotiate with Mexico over the next 90 days to finalize a trade deal within that timeframe, or longer.”
This extension prevents a 30% tariff on most Mexican non-automotive and non-metal goods compliant with the USMCA. The decision followed a call between Trump and Mexican President Claudia Sheinbaum. Sheinbaum called the discussion “very good” and confirmed the tariff increase set for the next day had been avoided. Mexico’s rate will remain at 25% for another 90 days.
Two weeks earlier, Trump had threatened the EU and Mexico with 30% tariffs on most exports to the U.S. starting August 1. However, he later reached a deal with Brussels, setting a 15% baseline rate.
The Mexico extension may invite criticism that Trump “always chickens out” of his deadlines, but his aggressive tariff strategy appears effective, having pressured major economies like the EU and Japan into agreements.
A U.S. official hinted at more pending trade deals, saying, “We have some deals, but I won’t announce them before the president does.”
On April 2, Trump declared “liberation day,” vowing to impose retaliatory tariffs on trading partners he accused of exploiting the U.S. By July 31, only eight countries or blocs—the UK, Vietnam, Indonesia, the Philippines, South Korea, Japan, Pakistan, and the EU—had reached formal agreements.
Australia’s trade minister, Don Farrell, noted that no country had lower reciprocal tariffs than Australia, suggesting its 10% baseline remained unchanged. Australia recently eased restrictions on U.S. beef imports, though Prime Minister Anthony Albanese denied any link to trade talks.
Cambodia and Thailand were close to deals earlier this week, but both were listed in Thursday’s executive order with 19% tariffs. Cambodian Prime Minister Hun Manet called the rate “good news” in a Facebook post.
(With agency inputs)
