Japan, Trump and tariffs
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Trump shared screenshots of letters detailing new tariff rates for over a dozen countries, allowing room for further negotiations before the renewed deadline of Aug. 1.
President Trump threatened to impose 30% tariffs on Mexico and the European Union starting on August 1. The announcement came after a string of new tariff threats last week.
The EU says the U.S. is resisting efforts to strike a trade deal and warned of countermeasures if no agreement is reached with U.S. by Aug. 1.
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NDTV Profit on MSNTariff Announcement Highlights: US Slaps Tariffs On Japan, South Korea, Malaysia, Myanmar, Laos— Check DetailsIndia trade agreement to drop soon, and until then, catch you on the flip side!This live blog has ended.Kazakhstan, Malaysia have been sent 25% tariff letters.South Africa gets 30% tariffs via letter.
U.S. stock markets reacted negatively on Monday after President Trump announced via social media that he would unilaterally impose 25% trade tariffs on Japan and South Korea. The tariffs target two of America’s closest allies and key suppliers of autos,
The move marks a renewed push by Trump to intensify trade pressure on U.S. allies after a pause in his tariff escalation.