Trump’s new tariffs: Who is hit, what’s next, how is the world responding?
Summary
United States President Donald Trump has extended the pause on certain tariffs until August 1. He sent letters to 14 countries, warning them of higher tariffs if they don't make trade deals with the US by that date. Some countries face the same or lower rates than before, while additional tariffs were threatened on countries aligning with BRICS.Key Facts
- Trump extended the pause on reciprocal tariffs until August 1.
- The original deadline for the tariffs was July 9.
- Letters were sent to 14 countries warning of new tariffs if no trade deal is reached.
- Some countries like Japan and South Korea face a 25% tariff rate.
- Other countries face different or lower tariffs compared to April 2 rates.
- Trump said companies moving production to the US would be exempt from tariffs.
- Retaliatory tariffs from these countries could lead to higher US tariffs.
- Trump threatened extra 10% tariffs on countries aligning with BRICS.
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