💨 Abstract

On May 16, 2025, President Donald Trump announced that tariffs will increase again after concluding a trip to the Middle East. Negotiations with numerous countries seeking new trade deals with the U.S. have been slow, prompting Trump to give other nations a few more weeks before introducing new tariffs. By the end of the extension period, the U.S. Treasury Secretary and the Commerce Secretary will inform trading partners of their new tariff rates.

Courtesy: wtop.com