Tue, 08 Jul 2025

Tue, 08 Jul 2025 US delays higher tariffs but announces new rates for some nations

Trump says the US will impose a raft of levies after pausing his Liberation Day tariffs.

* The White House has delayed imposing higher tariffs on imports, but will still impose levies from August 1.
* President Trump has sent letters to 14 countries, including Japan and South Korea, detailing the tariffs they will face.
* The US is renewing its threat of a 25% tax on products from Japan and South Korea, and other countries will face varying levels of tariffs.
* The tariffs were initially set to take effect on July 9, but the White House has given countries a two-week reprieve to negotiate trade deals.
* Economist Adam Ahmad Samdin says the extension is no surprise, as trade agreements often take years to finalize.
* Trump's comments suggest he is open to further trade talks and investment.
* The tariffs are expected to raise prices in the US and reduce trade, but Trump argues they will protect American businesses and boost domestic manufacturing and jobs.
* Japan and South Korea have expressed regret over the tariffs and plan to continue negotiating with the US.
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