News
Trump imposes new tariffs on seven countries starting August
Trump announces 25-40% tariffs on imports from seven countries starting August 1, amid ongoing trade deficit concerns.
Trump announces 25-40% tariffs on imports from seven countries starting August 1, amid ongoing trade deficit concerns.
President Trump has announced tariffs on imports from seven countries, effective August 1, with rates varying from 25% to 40%. This decision has caused U.S. financial markets to drop, and the legality of the tariffs is under review.
President Donald Trump has announced significant tariffs on imports from seven countries, effective August 1. The affected countries include Japan, South Korea, Malaysia, Kazakhstan, South Africa, Laos, and Myanmar.
Imports from Japan, South Korea, Malaysia, and Kazakhstan will face a 25% tariff, while South African goods will incur a 30% duty.
Laos and Myanmar imports are subject to a 40% tariff. These measures were detailed in letters Trump shared on social media with the leaders of the respective countries. The U.S. may adjust these tariffs based on diplomatic relations, according to Trump’s statements.
This announcement precedes the scheduled reinstatement of reciprocal tariffs, set to revert to higher levels.
White House Press Secretary Karoline Leavitt
Letters dispatched
White House press secretary Karoline Leavitt indicated that 14 letters would be dispatched, delaying the Wednesday deadline to August 1. Following the tariff announcement, U.S. financial markets dropped, with the Dow Jones Industrial Average declining by 637 points.
The announced rates generally align with tariffs previously imposed in April.
Despite claims of correcting trade deficits, some countries do not have large trade surpluses with the U.S. U.S. deficits for 2024 included $68.5 billion with Japan and $66 billion with South Korea, while Myanmar had a much smaller deficit.
The letters also warned against retaliatory tariffs from these nations, stating any increase from them would be added to the announced U.S. tariff rates. The Trump administration’s prior three-month tariff pause was intended to facilitate trade negotiations, though few concrete agreements have been finalised.
The legality of these tariffs is currently under review following a court decision against them in May.
News
Tensions rise as Iran threatens conflict and U.S. increases naval forces
Iran warns of regional conflict, labels European armies terrorists; U.S. boosts naval presence as both sides consider negotiations.
Iran warns of regional conflict, labels European armies terrorists; U.S. boosts naval presence as both sides consider negotiations.
Iran has warned of a potential regional conflict if the U.S. launches an attack, while labelling European armies as terrorists. Supreme Leader Ayatollah Ali Khamenei insisted that threats from President Trump will not intimidate the Iranian people.
The U.S. has ramped up its naval presence in the Middle East in response to mounting threats, amid speculation over Iran’s next moves. Iranian officials have denied claims of imminent naval exercises in the Strait of Hormuz, adding to global uncertainty.
News
Carlos Alcaraz becomes youngest man to complete career Grand Slam
Carlos Alcaraz, at 22, stuns tennis by winning the Australian Open, defeating Djokovic, and celebrating with a kangaroo tattoo.
Carlos Alcaraz, at 22, stuns tennis by winning the Australian Open, defeating Djokovic, and celebrating with a kangaroo tattoo.
Carlos Alcaraz has stunned the tennis world by winning the Australian Open, becoming the youngest man to complete a Career Grand Slam at just 22 years old.
The world number one beat Novak Djokovic in a thrilling four-set match, finishing 2-6, 6-2, 6-3, 7-5. Djokovic missed out on claiming his 25th Grand Slam title. To mark the milestone, Alcaraz revealed he plans to add a new tattoo of a kangaroo on his leg, joining his existing Eiffel Tower and Wimbledon strawberry tattoos.
#CarlosAlcaraz #AustralianOpen #GrandSlam #TennisHistory #NovakDjokovic #SportsNews #TennisTattoo #YoungChampion
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