Unlock White House Watch Newsletter for free

What does Trump’s second term for Washington, Business and the world mean

Donald Trump has renewed his danger to hits major trading partners with “mutual” tariffs, even allowed three weeks reimbursement to countries to interact with the US on trade deals.

The US President sent letters to Japan and South Korea on Monday – among the world’s largest economies – saying that the US will put 25 percent of the levy starting from August 1. South Africa will be hit with 30 percent. TariffTrump said, while many other countries announced a large levy.

Tariffs were roughly equal to those Tusrap On April 2, it was unveiled during its “Liberation Day” announcement, which inspired seriously inspired in the global financial markets. The mutual levy was stopped by 9 July a week, the markets were stabilized.

White House press secretary Karolin Lewitt said on Monday that mutual tariffs will now become effective for all countries on August 1, which will give them more time to deny business.

The scale of the threats of Trump’s tariffs knocked on the markets despite delay in their implementation on Monday. S&P 500 was 1.2 percent below lunch in New York. Meanwhile, Japanese, South Korean and South African currencies all fell by about 1 percent against the US dollar.

In letters posted on his true social platform, Trump said that the American goods trade deficit with Japan and South Korea “was a major threat to our economy and indeed our national security”.

In the letters, the President of South Korea, the Prime Minister of Japan, and Lee J-Mung were addressed to Shigeru Ishiba, Trump said that if either the country has increased its tariff in vengeance, then, “Then, whatever number you choose to lift them will be added to 25 percent, which we charge”.

But in an indication that the proposed tariff can be negotiated, he said that if countries open their markets, we would probably consider an adjustment. These tariffs can be modified, up or downwards based on our relationship with our country. ,

Trump on Monday announced a tariff standing against Malaysia, Kazakhstan, Laos and Myanmar.

The US already has a series of sectoral tariffs on imports of all countries, including 25 percent tariffs on auto and auto parts and 50 percent tariffs on all imports of steel and aluminum.

An American official confirmed that the goods that were already subject to sectoral tariffs, such as auto and metals, would not be affected at the rate of fresh 25 percent.

Washington also has a national security check that can cause tariffs on a series of other items and industries including aerospace, pharmaceuticals, wood, copper, chips and consumer electronics.

Trump made his rhetoric against Tokyo in recent weeks, thrown out the important trading partner and attacked as “bad” to refuse to buy more American rice.

The week of interactions between the US and Japanese trade negotiators has produced several proposals aimed at breaking the trade deadlock, including the purchase of more American energy and agricultural products. But Tokyo has also demanded a complete discount from Trump’s 25 percent auto tariff.

Meanwhile, American trade talks with South Korea were delayed by political upheaval in Seoul. After impeachment Former Korean President like Suk Yeol.

Separate, the European Union expected to sign a temporary trade deal with the US this week, keeping the tariff at 10 percent, while the talks continued, the trade commissioner Maroš šefčovič told the member states on Monday.

Both sides were working on a plan to reduce 25 percent tariffs on vehicles, but there was no guarantee on this steel that the levy on steel would be reduced by their 50 percent level, he said, according to two people, discussions were discussed.

Additional Reporting by Andy Bounds in Brussels