#TrumpTariffs What’s happening now?

Former President Trump has issued "tariff letters" to 14 nations—including Japan, South Korea, Malaysia, Bangladesh, and more—warning of new tariffs ranging from 25 % to 40 %, effective August 1, 2025 .

Those letters were sent this week, marking a final deadline extension from the previous July 9 date .

Trump reaffirmed on July 8 via his platform (Truth Social) that no further extensions would be granted beyond Aug 1 .

The tariffs include 50 % on copper and threaten up to 200 % on pharmaceuticals—with possible future levies on semiconductors .

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🌍 Global reaction

Asian allies have expressed shock, frustration, and anger at the abrupt letters and looming trade tensions .

Australia’s RBA warned these tariffs could have “profound global impact,” especially affecting Australian pharmaceutical exporters .