Here’s the latest on Trump’s tariff moves — all set to take effect on August 1, 2025, pending negotiations:
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🌍 Tariffs by Country
Major allies (Japan & South Korea):
A 25% tariff on all goods from both countries, communicated via official letters to their leaders, effective August 1 .
Additional countries receiving new rates:
Malaysia, Kazakhstan, Tunisia: 25%
South Africa, Bosnia & Herzegovina: 30%
Indonesia: 32%
Serbia & Bangladesh: 35%
Cambodia & Thailand: 36%
Laos & Myanmar: 40%
BRICS-aligned nations (those opposing U.S. policies perhaps):
Facing an extra 10% retaliatory tariff unless agreements are reached .
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🔄 Timeline & Legal Basis
A 90-day pause on the April "Liberation Day" tariffs was set to expire on July 9, but has now been extended to August 1 via a new executive order .
The original tariffs stem from Executive Order 14257 (April 2) under IEEPA; courts ruled parts unconstitutional, but appeals are pending—tariffs remain in effect .
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📉 Market & Global Reactions
U.S. stock markets dropped significantly on the announcements—tech and auto sectors hit hard .
BRICS countries responded strongly, accusing Trump of economic aggression and promoting a shift away from the U.S. dollar .
Federal Reserve officials caution that sustained tariffs could fuel inflation and hurt mid-size U.S. businesses .
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🔍 What’s Next?
Wake-up call by August 1: Unless trade deals are finalized—especially with Japan, South Korea, Canada, EU—tariffs roll out that day .
Negotiations ongoing: Partial agreements are close with the UK, EU, India, Vietnam; China framework also in place .
Court review: Appeals on the legality of tariffs via emergency powers are ongoing—major ruling due July 31 .
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✅ Summary
Date Event
April 2 "Liberation Day" tariffs announced (baseline 10%)
May 28 Court halts tariffs under IEEPA; stays pending appeal
July 9 Pause on reciprocal tariffs extended to August 1
August 1 New country-by-country rates kick in (25%–40%), plus 10% on BRICS