🇺🇸 US Announces New Tariff Rates
President Donald Trump has postponed higher import tariffs to August 1 but officially notified 14 countries—including Japan, South Korea, Thailand, and Indonesia—of new rates ranging between 25% and 40%.
While aimed at protecting US manufacturing and boosting domestic consumption, economists warn this move could raise prices and worsen the global economic slowdown.
Japan and South Korea are pushing for lower-rate agreements. Markets reacted negatively, fearing an escalation of trade wars.
Trump noted, “August 1 is firm, but not 100%,” suggesting additional time may be granted.