Trump detailed plans to increase tariffs on various goods from multiple countries, with rates reaching as high as 40%. Tariffs from nations such as Japan, South Korea, and South Africa will be implemented by 1 August, but Trump has postponed immediate increases. An executive order extended a 90-day pause on reciprocal tariffs. Trump expressed a willingness to adjust deadlines based on negotiations, indicating flexibility in trade talks. Letters communicated that tariffs could be avoided if products are manufactured in the U.S.
Trump announced the following new US tariff rates: Goods from Bangladesh: 35% US tariff, Bosnia and Herzegovina: 30%, Cambodia: 36%, Indonesia: 32%, Japan: 25%, Kazakhstan: 25%, Laos: 40%, Malaysia: 25%, Myanmar: 40%, Serbia: 35%, South Africa: 30%, South Korea: 25%, Thailand: 36%, Tunisia: 25%.
He also signed an executive order on Monday extending a 90-day pause for a slate of so-called reciprocal tariffs first introduced in April, pushing back the deadline of trade talks to 1 August.
Trump stated, 'I would say firm, but not 100% firm. If they call up and they say we'd like to do something a different way, we're going to be open to that.'
Collection
[
|
...
]