The U.S. released an outline of an agreed-to deal with Vietnam, but said it will be finalized "in coming weeks."
The U.S. and Thailand issued a joint statement on a trade framework over the weekend, which says Thailand will eliminate tariff barriers on about 99% of U.S. exports, while the U.S. will exclude some products from the Sept. 5 Annex III (see 2509050073) to spare them from 19% reciprocal tariffs. Those goods will still be subject to most-favored nation duties, and the 19% is added to MFN, as well. The final agreement will be negotiated over coming weeks, the statement says.
Treasury Secretary Scott Bessent, in an appearance on "Meet the Press," evaded a question about the scope and timing of threatened additional 10% tariffs on Canadian goods.
The Trump administration signaled that it doesn't expect to have a signing ceremony of a trade framework with South Korea while the president is there in the coming days for the Asia-Pacific Economic Cooperation summit.
President Donald Trump pushed back on complaints from cattle ranchers and politicians who have large cattle industries in their states, arguing that the 50% tariff he put on Brazilian beef already juiced their bottom lines.
President Donald Trump said on social media that the CEOs of General Motors and Ford, Mary Barra and Bill Ford, “just called to thank me for putting Tariffs on Mid Size and Large Size Trucks. Their Stock has gone through the roof! They told me that, without Tariffs, it would be a very hard, long ‘slog’ for Truck and Car Manufacturers in the United States. I told them, it’s very simple, this is a National Security matter. With the Tariffs, we have a strong and powerful Economy and Country. Without them, we have the exact opposite!”
President Donald Trump said that China's President Xi Jinping wants "to discuss the fact that they're paying 157% tariff, it's a little higher than they thought. And we're doing very well. I think we're going to do well in that negotiation."
President Donald Trump and Australian Prime Minister Anthony Albanese signed a critical minerals development framework that pledges investment in the sector, both mining and processing.
President Donald Trump confirmed to reporters on his plane on Oct. 19 that he intends to hike tariffs on Colombian goods on Oct. 21. He had earlier attacked Colombia's president on social media, calling him "an illegal drug leader," and saying that the U.S. no longer would give money to Colombia so that it can work to stop cocaine trafficking.
Peter Navarro, White House senior counselor for trade and manufacturing, argues that academics, editorial writers and analysts who say higher tariffs hurt domestic manufacturing are all wrong.