Trump imposes tariffs on Japan and South Korea
President Trump announced a 25 percent tariff on imports from Japan and South Korea with additional rates for Malaysia Kazakhstan South Africa Laos and Myanmar to take effect August 1. He warned those nations not to retaliate and said letters would be shared on Truth Social.
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Trump trade deal pace stalls after bold tariff push
The administration delayed most of its 90 day plan to seal 90 deals in 90 days. Only pacts with the United Kingdom and Vietnam plus a China framework emerged. Aug. 1 tariff warnings target Japan and South Korea. Vietnam deal features 20 percent duty on imports and 40 percent surcharge on transshipping goods.
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Tariffs and trade tensions weigh on Wall Street stocks
Wall Street closed broadly lower as the White House pressed trading partners to strike deals before tariffs take effect. The S&P 500, Dow, and Nasdaq fell about 0.8 to 0.9 percent with widespread declines. Tesla led losses after a Musk Trump feud flare, while tariff notices targeted Japan, South Korea, Malaysia, Kazakhstan, South Africa, Laos, and Myanmar. Reports cite looming 25 percent levies and future BRICS actions as the market weighs growth risks and policy paths.
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Tesla Feud With Trump Jolt Hits Shares Hard
Tesla shares slid seven percent amid renewed clash between Elon Musk and Donald Trump over a spending bill. Musk’s move to form a third party and criticism of policy dampen investor sentiment as rivals gain ground, with auto sector competition rising globally and EV demand mixed.
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