Ahead of Friday's tariff deadline, President Trump announced on social media that the U.S. and Mexico have agreed to extend their current deal for another 90 days while they continue to negotiate.

Mexico City

Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.

Global Tariffs

The United States has agreed with Mexico to extend their current trade agreement for an additional 90 days, allowing more time for negotiations and postponing the implementation of new tariffs. The extension is seen as beneficial for businesses that rely on cross-border trade, particularly those importing goods from Mexico.

Meanwhile, Canada faces a deadline to finalize a trade understanding with the US or risk higher tariffs on sectors such as autos, aluminum, copper, steel, and lumber. Goods already protected under the USMCA trade agreement are not affected by the new tariffs. The ongoing negotiations are expected to influence the upcoming USMCA renegotiation scheduled for the following year.

Where the current U.S.-Mexico tariff stands as Trump extends talks

President Trump will impose hefty tariffs tomorrow on dozens of countries if they have not yet reached a framework trade understanding with the United States. This morning the president announced this was interesting on social media that the US and Mexico, Mexico being our top trading partner, have agreed to extend their current deal for 90 days while trade talks continue. CBS News Money Watch correspondent Kelly O'Grady. So happy to see you, Kelly. Rescue me from my confusion if you can, please. I know, I thought that August 1st deadline was was firm, but it does. Didn't the president just say that three days ago? That's a negotiation tactic though, you know, hat tip to always keeping the goalposts moving. That is what you do in a good negotiation. That being said, look, I think the fact that there is an extension with Mexico that is a win for businesses that are importing goods that are selling into that. It's a 25% tariff because of fentanyl coming across the border, the 25% sector tariff for autos, as well as the 50% tariff for aluminum, copper, as well as steel. I will note though, and this is really important, there is that existing USMCA trade agreement between the US, Mexico, and Canada that was negotiated under the president's first term. It replaced NAFTA. And so these tariffs don't apply to any of the goods that are protected within that agreement. That, of course, is up for renegotiation in 2026. So it does seem like negotiations are sort of humming along between Mexico and the US. But my eye is on that next year. I think this is sort of designed to put pressure ahead of that renegotiation of the larger trade agreement. And what about Canada? Canada is up for this thing has to be closed by tomorrow. That's right, or we could see tariffs go up. You know, Nancy, I think, put sort of all of the context into whether they're going to recognize Palestine as a state or not. That's complicating matters. But the president has really hammered home that Canada has treated the US badly when it comes to those non-tariff barriers, that they support certain industries like the dairy industry within Canada. But that's going to be a really big one when you think about the auto industry and just how the supply chain across some of our major auto companies that this earning season have already admitted they're taking major hits to their bottom line because of these tariffs. Yesterday on this program, Peter Navarro, top trade advisor to the president, talked about lumber in Canada. We're going to talk to the mayor of Detroit, Mike Duggan, shortly on this program about the implications for Canadian tariffs and the automakers in Detroit. There's a lot spinning around the Canada conversation presently. Yeah, that's right. And you think about lumber specifically. We have a housing crisis. We need to build more all of those things, whether it's steel, aluminum, aluminum, lumber, things that we get from Canada that has trickled down effects to businesses and consumers like you and me as we try and figure out that problem. Kelly O'Grady, always hit it out of the park every single time. And I thank you.

U.S. President Donald Trump said he's ordered his administration to fire the commissioner of the U.S. Bureau of Labor Statistics, on the same day new data was released showing weak job growth in July. The Labor Department also sharply revised job growth for May and June down.

Washington

Trump orders firing of U.S. Bureau of Labor Statistics commissioner

U.S. President Donald Trump says he ordered two nuclear submarines to be positioned in the "appropriate regions" as a response to comments made by Russia's former president. CBS News' Charlie D'Agata reports.

Trump says nuclear submarines moved in response to Russia

The announcement comes as international pressure mounts on Israel over the war in Gaza and the deepening humanitarian crisis in the Palestinian enclave.

Ljubljana

Middle East Conflict

Slovenia becomes first EU country to ban arms trade with Israel

The United States imposed sanctions on Palestinian Authority officials just as other nations are stressing the importance of the PA in governing Gaza in the event of an end to the devastating war in the enclave.

New York

U.S. sanctions Palestinian Authority in growing diplomatic rift

Ukraine’s Parliament has reversed a controversial law signed last week by President Volodymyr Zelenskyy, which would have allowed the government greater control over anti-corruption agencies. The decision comes as the country faces one of its most significant political crises since Russia’s full-scale invasion in 2022.

Kyiv

Ukraine Invasion

Ukraine parliament reverses bill on anti-corruption agencies amid crisis

U.S. President Donald Trump has signed an executive order increasing tariffs on Canadian goods that don't meet the terms of the Canada-U.S.-Mexico Agreement to 35 per cent.

Ottawa

Trump raises Canada tariff to 35%, grants extension to Mexico

U.S. special envoy Steve Witkoff met Israeli Prime Minister Benjamin Netanyahu on July 31 in a bid to salvage Gaza truce talks and tackle a humanitarian crisis in the enclave, where a global hunger monitor has warned that famine is unfolding.

Jerusalem

Trump's envoy meets Netanyahu for Gaza aid, ceasefire push

U.S. special envoy Steve Witkoff is visiting Israel as more countries join the call to recognize a Palestinian state in September. CBS News' Robert Berger has the latest.

Trump envoy in Israel as Canada joins call on Palestinian statehood

President Donald Trump says the U.S. will charge a 15% tariff on imports from South Korea as part of a deal that eases, for now, tension with a top-10 trading partner and key Asian ally.

Trump says U.S. will set 15% tariff on South Korean imports

U.S. President Donald Trump slapped a 50% tariff on most Brazilian goods to fight what he has called a "witch hunt" against former President Jair Bolsonaro, but softened the blow by excluding sectors such as aircraft, energy and orange juice from heavier levies.

Rio de Janeiro

Trump hits Brazil with tariffs, sanctions but key sectors excluded

Widespread damage from tsunami waves after one of the strongest earthquakes ever recorded appears to have been largely avoided. Experts say this event should be used to gauge disaster preparedness for a more serious situation in the future.

Okinawa

Tsunami damage less severe than feared after Russian earthquake

Prime Minister Mark Carney announced that Canada will recognize a Palestinian state later this year if the Palestinian Authority, which governs parts of the West Bank, meets certain conditions.

Canada to recognize Palestinian state in September if conditions met

Australia said on Wednesday (July 30) it will add YouTube to sites covered by its world-first ban on social media for teenagers, reversing an earlier decision to exempt the Alphabet-owned video-sharing site and potentially setting up a legal challenge.

Canberra

Australia expands teen social media ban to YouTube

President Donald Trump said on Wednesday (July 30) the United States will impose a 25% tariff on goods imported from India, as well as an unspecified penalty for buying Russian weapons and oil, on Aug. 1.

Trump says U.S. to hit India with 25% tariff starting August 1

Mourners flooded the streets of Birmingham to celebrate the life of rock-and-roll legend Ozzy Osbourne during his funeral procession in the United Kingdom. Mark Savage, a music reporter at the BBC, a CBS News partner, joins with more details.

Birmingham

Ozzy Osbourne fans flood Birmingham streets to mourn late music icon

U.S. President Donald Trump told reporters before departing from Scotland that Jeffrey Epstein poached workers from his Mar-a-Lago spa. Trump mentioned Virginia Giuffre, one of Epstein's most vocal accusers, in his latest remarks.

Trump says Epstein 'stole' young women from Mar-a-Lago spa

Owdeh Hathaleen, a 31-year‑old Palestinian activist, teacher, and filmmaker behind the Oscar-winning documentary No Other Land, was shot dead by an Israeli settler near the village of Umm al‑Khair in the South Hebron Hills.

Palestinian activist killed by Israeli settler in West Bank

A powerful magnitude 8.8 earthquake off Russia's Far Eastern Kamchatka Peninsula triggered tsunami waves of up to 16 feet nearby, and sparked evacuation orders in Japan, Hawaii and across the Pacific on Wednesday (July 30).

Hawaii

Tsunami reaches Hawaii after huge quake shakes Russia's Far East

The U.N. General Assembly brought high-level officials together to promote a two-state solution to the decades-old Israel-Palestinian conflict. Israel and the United States are boycotting the two-day meeting, co-chaired by the foreign ministers of France and Saudi Arabia

Israel and U.S. boycott UN Summit for two-state solution

With numerous countries facing an Aug. 1 trade agreement deadline, officials in the Trump administration say China could get an extension while negotiations continue.

Trump officials suggest potential tariff truce with China

Police say the man who shot and killed four people in a New York City office building before he took his own life had a "documented mental health history." Mayor Eric Adams says he may have been targeting the National Football League (NFL).

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Jeffrey Epstein-associate Ghislaine Maxwell is offering to testify before Congress in exchange for concessions like full immunity. CBS News Department of Justice reporter Jake Rosen has more.

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Prime Minister Keir Starmer said on Tuesday (July 29) Britain was prepared to recognize a Palestinian state in September at the United Nations General Assembly unless Israel takes a number of steps to improve life for Palestinians.

London

UK to recognize Palestinian state unless Israel takes action

Russia launched overnight air strikes on over 70 Ukrainian cities, killing more than 20 people, according to President Zelenskyy. A pregnant woman died near a hospital in the southeast, while a prison strike killed at least 17.

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For the first time, human rights groups inside Israel are accusing their own government of committing genocide in Gaza. Israel insists it is targeting Hamas, not civilians—despite nearly 60,000 Palestinian deaths since the war began almost two years ago.

Rights groups in Israel accuse country of genocide

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France leads UN talks on Israel-Palestine two-state solution

Former Colombian President Álvaro Uribe was found guilty of bribery and witness tampering in an unprecedented trial that has shaken the country.

Bogotá

Ex-Colombian president Uribe convicted of witness tampering, bribery

Russian Security Council Deputy Chairman Dmitry Medvedev posted on social media that President Trump's deadline push for a ceasefire with Ukraine is "a threat and a step towards war."

Moscow

Russian official calls Trump's ceasefire deadline 'a threat'

Ukraine says Russia's overnight air strikes hit a prison in Zaporizhzhia in the southeast, killing at least 17 people. Another 35 were injured. Authorities say the attacks destroyed the jail buildings and damaged several nearby houses.

Zaporizhzhia

Russian air strikes hit a prison in Ukraine's Zaporizhzhia, 17 killed

Russia launched yet another attack on Ukraine overnight, with more than 300 drones and seven missiles. While most of the barrage was intercepted, the attacks prompted President Trump to give his Russian counterpart an ultimatum.

Where the current U.S.-Mexico tariff stands as Trump extends talks

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