Trump Ramps Up Trade War with New Tariffs

• U.S. President Donald Trump (Trump Ramps Up Trade War) announced 25% tariffs on imports from Japan and South Korea, effective August 1.
  
• Letters sent to 14 countries, including Serbia, Thailand, and Tunisia, warn of steep tariffs with room for negotiation.
  
• Tariffs will not stack with previous ones on specific sectors like automobiles or steel.
  
• Tariff rates for some countries:
  
  • 25% – Japan, South Korea, Tunisia, Malaysia, Kazakhstan
    
  • 30% – South Africa, Bosnia and Herzegovina
    
  • 32% – Indonesia
    
  • 35% – Serbia, Bangladesh
    
  • 36% – Cambodia, Thailand
    
  • 40% – Laos, Myanmar
    
• Trump said if countries raise tariffs in response (Trump Ramps Up Trade War), the U.S. will match the increase.
  
• The negotiation deadline extended to August 1 via executive order; may still be flexible.
  
• Markets reacted sharply:
  
  • S&P 500 fell 0.8%
    
  • Asian markets mostly resilient – Japan’s Nikkei rebounded, South Korea’s stocks rose >1%
    
• Reactions:
  
  • Japan’s PM: Some progress made; discussions ongoing.
    
  • South Korea: Will intensify trade talks with U.S.
    
  • Thailand: Preparing a backup plan, optimistic about a fair tariff rate.
    
  • Malaysia: Prefers dialogue to resolve trade imbalance.
    
  • Indonesia: Preparing for negotiations in Washington.
    
  • South Africa: Tariffs unjustified; 77% of U.S. goods already tariff-free there.
    
• Only two trade deals have been finalized so far – with Britain and Vietnam.
  
• China warned the U.S. against reigniting tensions and hinted at retaliation.
  
• European Union not targeted with new tariffs; still negotiating a possible deal by Wednesday.
  

Trump warned BRICS nations (Brazil, Russia, India, China) of 10% extra tariffs if they adopt “anti-American” policies.

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