Trump says Mexico, EU to face 30% tariff from Aug 1

sacadmin

News Image

  • Trump says Mexico, EU to face 30% tariff from Aug 1

US President Donald Trump targeted Mexico and the European Union with steep 30 percent tariffs, dramatically raising the stakes in already tense negotiations with two of the largest US trading partners. Both sets of duties will take effect August 1, Trump says in formal letters posted to his Truth Social platform. The president cites Mexico's role in illicit drugs flowing into the United States and a trade imbalance with the EU as meriting the tariff threat.

mitv

EN-News-Category
Business news
Business-International news

Related News

Myanmar, Russia in talks to set up trading house
Myanmar, Russia in talks to set up trading house
The director-general of the Myanmar Trade Promotion Organization (MyanTrade) received Mr Konstantin Kanarev, Trade Representative of the Russian Federation to Myanmar, at the Myanmar International Trade Centre of MyanTrade on 11 August 2025 and discussed establishing a trading house to facilitate bilateral trade between Myanmar and Russia.The meeting highlighted export potential for agricultural produce from Myanmar to Russia, possible import items from Russia, agricultural produce, market conditions, trade procedures, and establishing a trading house to accelerate trade cooperation between the two countries.MyanTrade, under the Ministry of Commerce, held a virtual meeting on 28 July regarding the export of Myanmar mango pulp to Russia. Russia primarily imports mango pulp from India. They want to import 10,000 tonnes of mango pulp from India. MyanTrade will link Russian buyers with Myanmar dried mango and mango pulp suppliers.Business entities also discussed challenges and collaboration matters with Russian buyers to boost dried mango and mango pulp exports.Afterwards, MyanTrade held a hybrid meeting on 28 July for the exportation of Myanmar’s high-grade coffee to Russia.The meeting focused on coffee cultivation to export high-grade coffee, production situation, coffee market outlook in Russia and potential coffee varieties, in the presence of MyanTrade officials, Myanmar’s economic counsellor in Russia, and representatives of the Myanmar Coffee Association and coffee suppliers.MyanTrade, the Ministry of Agriculture, Livestock and Irrigation and the economic counsellor in Russia will coordinate the needs for coffee export to Russia. — NN/KKGNLM
Thu, 14-Aug-2025
Female workers processing seafood at a cold storage facility.
Myanmar earns US$96M from over 80,000 MT of fishery exports in Apr–Jul
Myanmar is steadily exporting seafood to 40 countries, including China, Thailand, Bangladesh and Japan, through maritime routes and land borders.Myanmar exported more than 81,000 tonnes of fish in the past four months of the current financial year 2025-2026, beginning 1 April, earning US$96 million, according to the Department of Fisheries.Myanmar delivered over 45,900 tonnes of fish by sea, with an estimated value of $67 million. Over 35,000 tonnes of fish worth $29 million were exported to neighbouring countries via the border channel.Myanmar’s fish export amounted to $421 million from about 400,000 tonnes in the previous FY 2024-2025 (April-March).Myanmar steadily ships seafood to 40 countries, including China, Thailand, Bangladesh and Japan, through maritime and border trade channels.Seafood, including hilsa, rohu, catfish, seabass, eel, shrimp and crab, is exported to foreign markets, according to the Myanmar Fisheries Federation. There are over 140 fishery cold storage facilities, and the department grants annual licence renewals. — NN/KKGNLM
Thu, 14-Aug-2025
Myanmar hilsa targets Indian market
Myanmar hilsa targets Indian market
Myanmar’s Fisheries Department stated that India is likely to bring in a large volume of Myanmar’s hilsa.Myanmar’s hilsa is primarily exported to India, Thailand, Japan, Singapore and the UAE. India is expected to emerge as the top importing country of Myanmar’s hilsa.“There is a high consumption of Myanmar’s hilsa in India. High local demand prompts India’s buyers to import Myanmar’s hilsa increasingly. Consumers from Kolkata, India, prefer Myanmar’s hilsa, raising demand. Therefore, there is a potential for India to raise the purchase order,” said an official of the Department of Fisheries.Myanmar shipped over 100,000 tonnes of hilsa in the first quarter of the current financial year 2025-2026, beginning 1 April. The department is ensuring sustainable production of seafood, including hilsa, by establishing sanctuaries in critical breeding areas in Toe, Bogalay, Pyanmalot and Yway distributaries.A fishing ban is practised yearly from 15 September to 15 October in those distributaries. Raising awareness on the hilsa fishing close season and warnings are also being undertaken. — ASH/KKGNLM
Wed, 13-Aug-2025
Agriculture and Irrigation: Visiting vineyards and dam in Yamethin Township
Agriculture and Irrigation: Visiting vineyards and dam in Yamethin Township
Union Minister for Agriculture, Livestock and Irrigation U Min Naung visited the vineyards in YwarTan village-tract on Yamethin Township in Mandalay Region on Sunday. During the meeting with farmers, the Union Minister urged them to cultivate grape not only for consuming but also for wine producing. He also outlined the implementation of contract farming system through collaboration between farmers and wine entrepreneurs for wider market opportunities. The Union Minister stressed the need to strive for cultivation of targeted cotton acres in Yamethin area, ensuring the expected yield.Then, the Directors General presented the technical issues to be abided by the respective sectors and the Union Minister coordinated the needs. Later, the Union Minister arrived at LePhyu Dam where he instructed for implementation of dredging works with the use of regional government fund and arrangement for construction new dam if needed. He also observed the water inflow of KyeeNiKan and supplying irrigated water to the catchment area.mitv
Mon, 11-Aug-2025
Premium grapes shipping from central Japan
Premium grapes shipping from central Japan
Farmers in central Japan have begun harvesting and shipping premium grapes known as Shine Muscat. Deliveries of outdoor-grown Shine Muscat began on Friday at an agricultural cooperative in Yamanashi City.Other large grape varieties were being shipped as well, including Pione and Queen Nina. The local agricultural cooperative said outdoor-grown Shine Muscat harvested in the area makes up about a quarter of nationwide yields. It expects to ship about 5,100 tons this year.mitv
Sat, 9-Aug-2025
Bank of England cuts interest rate to 4 pct, lowest in over 2 years
Bank of England cuts interest rate to 4 pct, lowest in over 2 years
The Bank of England (BoE) announced on Thursday a cut to its benchmark interest rate from 4.25 percent to 4 percent, the lowest level in more than two years, to boost the weakening British economy. The BoE's Monetary Policy Committee voted 5-4 in favour of the quarter-point reduction. British Chancellor of the Exchequer Rachel Reeves welcomed the rate cut. She posted on social media that the cut brings down the cost of mortgages and loans across the UK.mitv
Fri, 8-Aug-2025
© Copyright 2024 SAC All Rights Reserved.