Hey there, global citizens! If you've been following the latest news on Trump tariffs, you'll want to stay tuned for the latest developments. As of July 8, 2025, here's what's happening:
New Tariff Announcements
Former President Trump announced tariffs ranging from 25% to 40% on 14 nations, including Japan, South Korea, Bangladesh, Thailand, Malaysia, Myanmar, Laos, and Kazakhstan, effective August 1. Specifically, Japan and South Korea will face a 25% tariff.
Deadlines & Negotiations
The good news is that affected countries have a window of opportunity to negotiate adjustments before the tariffs kick in on August 1. Trump has indicated flexibility based on progress. Key allies like Japan and South Korea are scrambling to avert the tariffs, leveraging upcoming political events like Japan's Upper House elections on July 20.
Global Reaction
The global response has been muted, with governments seeking negotiation rather than confrontation. Japan's PM Shigeru Ishiba labeled the move "deeply regrettable."
Economic & Market Impact
The tariffs have already started to impact the market:
- Currency volatility: The Japanese yen hit multi-week lows, while the South Korean won recovered slightly.
- Broader market jitters: Financial markets are reacting, and we can expect increased fluctuations in global equities, commodities, and possibly bond yields.
BRICS & Wider Scope
Trump also warned BRICS nations, including China and India, of a 10% tariff increase, prompting widespread condemnation. Ongoing trade deals are still in progress, with the U.S. reportedly close to agreements with India, Vietnam, the U.K., and China.
What to Watch Next
As we approach the August 1 deadline, here are some key things to watch:
- Negotiation progress with Japan, South Korea, and others - will they secure tariff relief?
- Market reactions: Watch how equities, currencies (yen, won), and bonds respond as the August 1 date approaches.
- Statements from affected governments, especially ahead of July 20 (Japan elections) and August 1 deadlines.
- Any deal confirmations with India, U.K., or Vietnam may shift dynamics.
Stay tuned for more updates on the Trump tariffs, and let's see how this unfolds! 🌐
Summary Snapshot
Aspect Details
Scope Tariffs (25-40%) on 14 nations, notably Japan & S. Korea at 25%
Implementation Effective August 1 (letters sent; deadline negotiable)
Negotiations Countries have ~3 weeks to renegotiate
Market effects Currency devaluations, market volatility
Global response Allies are cautious, engaging in diplomacy
Wider strategy Tariffs also threatened vs BRICS; trade pacts evolving