Trump's Trade Tango: Deals, Deadlines, and Global Disruptions

President Donald Trump has initiated trade agreements with Japan and other Asian countries to mitigate tariff impacts, though steep tariffs remain in some areas. Ongoing negotiations with China and other nations, alongside looming deadlines, keep global economic tensions high. Asian growth forecasts are now revised downward due to lingering uncertainties.

President Donald Trump has struck trade deals with Japan and various Asian countries, aiming to ease the burden from increased tariffs on exports to the United States. Although relief comes for companies and consumers, countries like South Korea and Thailand are yet to reach agreements.

Negotiations with China may extend past the August 12 deadline, potentially delaying resolution. Recent US-Japan tariffs dropped to 15% after a bilateral deal, providing much-needed relief to automakers like Toyota and Honda. Despite the agreements, threats of higher tariffs still loom large for countries not striking deals.

Economists warn that tariff uncertainties and high costs could further depress growth, as reflected in revised forecasts for Asia's regional economies. The Asian Development Bank adjusted its growth estimates downward, cautioning that global supply chain disruptions and geopolitical tensions might worsen the outlook.

(With inputs from agencies.)