A ‘Mornings with Maria’ panel discusses a brand new report from the Council of Financial Advisors exhibiting import costs falling since President Donald Trump’s second time period, contradicting claims that tariffs gas inflation.
President Trump introduced Wednesday that the U.S. has reached a commerce cope with Pakistan, during which the 2 international locations will work collectively to develop the South Asian nation’s oil reserves.
“Now we have simply concluded a Take care of the Nation of Pakistan, whereby Pakistan and america will work collectively on growing their large Oil Reserves,” Trump mentioned in a Reality Social put up on Wednesday. “We’re within the course of of selecting the Oil Firm that can lead this Partnership. Who is aware of, possibly they’ll be promoting Oil to India some day!”
PAKISTAN SAYS TRADE DEAL WITH US COULD COME WITHIN DAYS, TRUMP ADMIN OFFERS NO TIMELINE
The announcement comes simply days after Secretary of State Marco Rubio’s Friday assembly with Pakistani Overseas Minister Ishaq Dar. Following the assembly, Dar mentioned a commerce deal with the U.S. was “very shut,” however officers in Washington didn’t supply a timeline.
US President Donald Trump speaks earlier than signing the VA House Mortgage Program Reform Act within the Roosevelt Room of the White Home in Washington, DC, on July 30, 2025. (JIM WATSON/AFP through Getty Photos / Getty Photos)
“I feel we’re very near finalizing a cope with the U.S.,” Dar mentioned on the Atlantic Council suppose tank on Friday. “Our groups have been right here in Washington, discussing, having digital conferences, and a committee has been tasked by the prime minister to fine-tune now.”
TRUMP ANNOUNCES 25% TARIFFS ON JAPAN, SOUTH KOREA
Within the Wednesday Reality Social put up, Trump additionally mentioned that he was slated to fulfill with South Korean officers that afternoon to debate a deal to decrease the Asian nation’s deliberate 25% tariff on items imported into the U.S.
U.S. Secretary of State Marco Rubio and Pakistani Deputy Prime Minister and Overseas Minister Ishaq Dar shake palms for photographers assembled on the State Division in Washington, D.C., U.S., July 25, 2025. (Reuters / Reuters Photographs)
“South Korea is correct now at a 25% Tariff, however they’ve a proposal to purchase down these Tariffs,” Trump mentioned. “I can be inquisitive about listening to what that supply is.”
A COMPLETE TIMELINE OF TRUMP’S TARIFF IMPLEMENTATION STRATEGY ACROSS THE GLOBE
Earlier this month, Trump introduced the U.S. would impose 25% tariffs on items imported from Japan and South Korea. The brand new levies will take impact on Aug. 1. If both Japan or South Korea elevate tariffs in retaliation, Trump mentioned that the U.S. tariffs will improve by an equal quantity.
An American and South Korean flag cling collectively at Yongin, South Korea, on Aug. 23, 2016. (Ken Scar/U.S. Military/Handout through REUTERS / Reuters Photographs)
Trump concluded the Wednesday Reality Social put up by noting that different international locations are making affords to the U.S. to decrease their tariff charges — all of which is able to assist scale back the U.S. commerce deficit.
“Likewise, different Nations are making affords for a Tariff discount,” he mentioned. “All of this may assist scale back our Commerce Deficit in a really main manner. A full report can be launched on the applicable time. Thanks on your consideration to this matter. MAKE AMERICA GREAT AGAIN!”
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The White Home didn’t instantly reply to FOX Enterprise’ request for remark.
FOX Enterprise’ Landon Mion and Eric Revell contributed to this report.
