Trump imposes 25 percent tariffs on Japan and Korea
President Trump announces 25 percent tariffs on imports from Japan and South Korea and sets new rates for Malaysia Kazakhstan Laos Myanmar and South Africa to take effect August 1. Letters warn of higher duties if rivals raise their own tariffs amid ongoing trade talks and policy drama.
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Trump trade talks stall as tariff plan shrinks in scope
President Trump’s proposed multi-country tariff push stalls as the 90 day window extends beyond its deadline. Only deals with the United Kingdom and Vietnam have been announced, plus a framework with China. August tariff threats loom, with Vietnam facing 20 percent duties for goods and a 40 percent levy on transshipping. Vietnam remains under a 10 percent baseline tariff.
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Tariff pressures down stocks on Wall Street
Wall Street closed broadly lower as the White House warned partners to seal deals before tariffs take effect. The S&P 500 fell 0.8 percent, the Dow slipped 0.9 percent, and the Nasdaq slid 0.9 percent. Tesla led declines, dragged by the Musk Trump feud, amid 25 percent tariffs announced for Japan and South Korea with added rates on Malaysia, Kazakhstan, South Africa, Laos, and Myanmar.
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