#TrumpTariffs
๐ Whatโs Happening
25% tariffs on Japan & South Korea โ set for August 1, but the deadline might flex if deals come through ๐ผ๐ฏ๐ต๐ฐ๐ท
Broader tariffs (25โ40%) targeting 14 countriesโranging from Malaysia, Thailand, Indonesia, Laos, Myanmar, South Africa, to Bangladesh and more
Laos & Myanmar hit hardest at 40%, Thailand/Cambodia 36%, Bangladesh/Serbia 35%, South Africa/Bosnia 30%, and others **25%**
๐ฅ Market Moves
U.S. stocks took a punchโDow fell over 600 points, S&P and Nasdaq also in the red amid global jitters ๐งจ๐
Asian currencies are on edge: the yen hit multi-week lows, while the won bounced back slightly (+0.7%)
Gold shot up to over $3,300/ozโup ~26% this yearโas investors hunt for safety
๐ Timeline & Strategy
Original July 9 deadline got pushed to August 1โletters issued, but Trump says deadlines are โnot 100% firmโ if countries engage in new deals โ๏ธ๐ค
Only trades sealed so far: UK, Vietnam, China (prelim). More negotiations in progressโIndia seems close, EU aiming for a deal, and ASEAN countries scrambling
๐ฏ๐ต๐ฐ๐ท Reactions
Japanโs PM Ishiba says talks are ongoing but reaching a deal by July 20 (Upper House elections) is tight
South Korea is turning up pressure, stepping up negotiation pace before the deadline
Bottom Line
1. Tariffs Launch August 1 โ unless deals save the day
2. Global markets shaky โ stocks down, safe-havens up
3. Countries in scramble mode โ negotiating hard to dodge big levies
4. Deadlines may slip โ Trump wants lines drawn but could still wheel and deal