Trade War RELOADED: Trump Slaps New Tariffs; Markets Down

Washington, D.C. — President Donald Trump has reignited global trade tensions with a sweeping set of new tariffs targeting 14 countries, including key allies like Japan, South Korea, and Malaysia. The tariffs, ranging from 25% to 40%, are set to take effect August 1, unless new bilateral trade deals are reached.

In a series of letters posted to Truth Social, Trump warned leaders that any retaliatory tariffs would trigger even steeper U.S. duties. “Whatever the number you choose to raise them by will be added onto the 25% that we charge,” he wrote to Japanese Prime Minister Shigeru Ishiba and South Korean President Lee Jae Myung.

The breakdown of new tariffs includes:

• 25% on imports from Japan, South Korea, Malaysia, Kazakhstan, and Tunisia

• 30% on South Africa and Bosnia and Herzegovina

• 32%–36% on Indonesia, Bangladesh, Thailand, Cambodia, and Serbia

• 40% on Laos and Myanmar

Trump delayed the expiration of a previous 90-day tariff pause, pushing the deadline to August 1 to allow time for negotiations. So far, only the UK, Vietnam, and China have reached preliminary agreements.

Markets reacted swiftly: the Dow dropped over 420 points, and Japanese automakers saw losses of up to 4%. Economists warn the tariffs could fuel inflation and slow global growth, especially in export-heavy Asian economies.

Despite criticism, Trump defended the move as a push for “reciprocal trade” and hinted that more letters—and possibly more deals—are on the way. “You will never be disappointed with The United States of America,” he wrote.