#TrumpTariffs President Trump has issued “tariff letters” to 14 countries—including South Korea, Japan, Bangladesh, Malaysia, and Kazakhstan—threatening levies from 25% up to 40% starting August 1, 2025 if no trade deals are reached .
He backed this with a hardline cabinet stance, shifting the threat deadline from July 9 to August 1 and warning “no extensions” .
U.S. markets reacted sharply, with major indexes tumbling amid heightened volatility . Simultaneously, Trump floated a “mini trade deal” with India, potentially delaying reciprocal tariffs on New Delhi under the same deadline .