The United States is not holding back—with threats of 25% to 40% tariffs on imports from 14 countries, global trade tensions are on the rise. President Donald Trump announced on social media that tariffs of 25% will be imposed on imports from Japan and South Korea starting August 1, while letters have been sent to leaders in countries like Malaysia, Kazakhstan, South Africa, Myanmar, Laos, Tunisia, Indonesia, Bangladesh, Serbia, Bosnia and Herzegovina, Cambodia, and Thailand. 😬
The detailed plan breaks down as follows:
- Japan, South Korea, Kazakhstan, Malaysia, Tunisia: 25%
- Bosnia and Herzegovina, South Africa: 30%
- Indonesia: 32%
- Bangladesh, Serbia: 35%
- Cambodia, Thailand: 36%
- Laos, Myanmar: 40%
The letters warn that these tariffs, described as "reciprocal," are far lower than what is needed to correct trade imbalances and caution that any retaliatory hikes will prompt matching U.S. measures. With negotiations stalling and a looming deadline, Treasury Secretary Scott Bessent indicated that countries missing the August 1 mark might face the full force of earlier negotiated tariffs.
Reactions vary around the globe. South Africa is calling for a more balanced, mutually beneficial trade relationship, while European Commission President Ursula von der Leyen and Asian leaders emphasize the need to safeguard their interests. Meanwhile, financial markets reacted sharply—major U.S. indices like the Dow Jones, S&P 500, and NASDAQ recorded noticeable declines, amplifying concerns over renewed trade volatility.
For news enthusiasts, young entrepreneurs, students, and travelers alike, this evolving trade saga is a story to watch. Stay tuned for more updates as the global economic landscape shifts! 🚀
Reference(s):
U.S. new tariff threats spark global tensions as negotiations stall
cgtn.com
