Status of trade negotiations in the race to prevent increased American customs duties
In the ever-evolving global trade landscape, the United States has been actively engaging in negotiations with key partners while maintaining or imposing new tariffs where necessary. As of July 9, 2025, significant progress has been made in several trade talks, while negotiations with others remain ongoing.
## U.S.-China Trade Negotiations
The U.S. and China reached a framework agreement on May 12, 2025, resulting in a dramatic reduction of special tariffs. China lowered its special tariffs on U.S. goods from 125% to 10%, while the U.S. reduced IEEPA-based tariffs on Chinese goods from 145% to 30%. This reduction is set to last until August 11, 2025, and could be extended pending further negotiations. On June 26, 2025, the two countries announced a further agreement: China would ease restrictions on rare-earth exports, and the U.S. would lift certain export controls on China. Specific details remain unpublished, and negotiations are ongoing to iron out further details.
## U.S.-Vietnam Trade Deal
On July 2, 2025, the U.S. and Vietnam reached a trade deal, making Vietnam the third country (after the UK and China) to enter such an agreement. Vietnam agreed to pay a 20% import duty on direct goods and 40% on others—a significant reduction from previous levels—while the U.S. gains tariff-free access for exports like SUVs. The deal is considered a major achievement for Vietnam, likely giving it a competitive edge over other Southeast Asian exporters such as Thailand.
## Other Countries and Tariff Delays
The U.S. has delayed the implementation of reciprocal tariffs on several countries, including India, Indonesia, Fiji, Guyana, and the Falkland Islands, until July 9, 2025. These tariffs range from 25% to 42%, depending on the country. Zimbabwe unilaterally lifted all tariffs on U.S. goods in response to the 18% tariffs imposed by the U.S. in April, aiming to foster better relations. On June 27, 2025, the U.S. terminated a trade measure in response to Canada's 3% digital services tax. The U.S. has threatened tariffs but has not yet imposed them on France and the European Union, with possible Section 301 investigations to address digital services taxes.
In summary, the U.S. and China have temporarily reduced most special tariffs while keeping others in place, with negotiations ongoing. Vietnam has secured a new trade deal, reducing its tariffs and receiving tariff-free access for certain U.S. exports. Several countries face delayed reciprocal tariffs, now set to take effect on July 9, 2025. The U.S. has responded to digital taxes with terminations or threats of future tariffs, while Zimbabwe has unilaterally lifted tariffs on U.S. goods. These developments reflect a mix of negotiated agreements and ongoing or delayed tariff actions as the U.S. navigates global trade tensions.
- The reduction in special tariffs between the U.S. and China has significantly impacted the finance industry, as businesses are now able to export goods with lower costs.
- The arts and culture sector could potentially benefit from the U.S.-Vietnam trade deal, as Vietnam's competitive edge might attract more artistic collaborations.
- The ongoing U.S.-China negotiations also have implications for politics, as the outcome of these talks could influence broader geopolitical relations between the two nations.
- General news outlets are closely monitoring ongoing trade talks and tariff actions, as they impact various industries, including the business sector, and could shape the global economy.
