Trump Imposes New Tariffs on Exporting Countries, Markets Uncertain

US President Donald Trump has announced a fresh round of tariffs by releasing a list of countries that could face higher tariffs on their exports to the United States. Trump confirmed that letters have been sent to several nations, warning them of increased import duties if new trade agreements are not reached by August 1. The first letters were addressed to Japan and South Korea, followed by similar notices sent to 12 other countries including South Africa, Indonesia, Thailand, and others.

Speaking later at the White House, Trump expressed contentment in imposing duties 'for the most part' but mentioned that negotiations were still open with some nations. He highlighted that deals had already been made with the UK, China, and Vietnam, with talks progressing well with India. However, some countries showed little willingness to negotiate, leading to the letters being sent without further discussion.

Trump warned these nations not to respond with retaliatory tariffs, stating that the US would match any increase in tariffs raised by other countries. The move adds further uncertainty for markets, businesses, and policymakers globally, amidst challenges of high inflation, supply chain disruptions, and a slower global economy.

The new tariff rates range from 25% to 40% on goods from various countries like Malaysia, Kazakhstan, Tunisia, and more. Countries like Japan and South Korea face tariffs at 25%. Trump's recent tariff plan and the subsequent trade negotiations have created a sense of anticipation and concern across the international trade landscape.