#TrumpTariffs Donald Trump revealed plans to step up his trade wars on Monday but delayed tariffs hikes on goods from key economies until next month, amid widespread confusion over his controversial economic strategy.

The US president announced countries including Japan, South Korea and South Africa will face tariffs of up to 40% as part of a fresh wave of levies to kick in on 1 August. No increases will take place on Wednesday, however, after he extended a previous pause.

White House officials also signaled that new blanket rates – charged on all goods imported from certain markets – would incorporate, rather than be imposed on top of, existing duties charged on certain sectors, such as cars