#TrumpTariffs Donald Trump's tariff policies are impacting global trade, with several countries receiving letters outlining potential tariffs. Here's what's happening:
*Countries Affected by Tariffs*
- *Japan and South Korea*: 25% tariff on imports, with both countries planning to negotiate with the US to soften the impact
- *Bangladesh*: 35% tariff on products
- *Thailand and Cambodia*: 36% tariff
- *Serbia*: 35% tariff
- *Indonesia*: 32% tariff
- *Bosnia and Herzegovina*: 30% tariff
- *Laos and Myanmar*: 40% tariff
- *Kazakhstan*: 25% tariff
*Other Developments*
- *BRICS Nations*: Trump has threatened a 10% tariff on countries aligning with the BRICS bloc, citing "anti-Americanism" concerns. However, BRICS members have responded coolly to the threat, stressing that the bloc isn't seeking confrontation
- *Copper Imports*: Trump announced plans to impose a 50% tariff on copper imports, causing copper futures to spike by 17%
- *Pharmaceuticals*: Trump hinted at a steep 200% tariff on pharmaceuticals
*Trade Deals and Negotiations*
- *India-US Trade Deal*: A "mini trade deal" between India and the US might be announced soon, with reports suggesting a deal could be struck before the July 9 deadline
- *August 1 Deadline*: Trump said the deadline for trade partners to reach new deals is firm, but he's open to negotiations if countries change their trade policies ¹