US Announces Up to 40% Tariffs on Imports
US Announces Up to 40% Tariffs on Imports

US Announces Up to 40% Tariffs on Imports

News summary

President Donald Trump has announced new tariffs ranging from 25% to 40% on imports from over a dozen countries, including Japan, South Korea, and Bangladesh, effective August 1. The measures are aimed at addressing trade imbalances and encouraging reciprocal tariffs, with the administration warning of further increases if affected countries retaliate. Bangladesh faces a 35% tariff and is seeking talks to reduce the impact on its garment industry, while Japan has called the tariffs 'deeply regrettable' but will continue negotiations. The US has finalized trade deals with the UK and Vietnam and reached a framework agreement with China, which has warned of possible retaliatory tariffs. Market volatility has increased and experts warn of potential recession risks due to the breadth of the tariffs. Many targeted companies are hesitant to make operational changes amid ongoing uncertainty over tariff rates.

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+31
Left 51%
Center 20%
Right 29%
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46
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18
Center
7
Right
10
Unrated
11
Last Updated
11 min ago
Bias Distribution
51% Left
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