Trump Imposes New Tariffs on 14 Countries Up to 40%

President Donald Trump has announced a new wave of tariffs targeting multiple countries, including Japan and South Korea, with rates set at 25 percent and potentially up to 40 percent for others, effective August 1. These tariffs are part of Trump's efforts to address what he describes as unsustainable trade deficits that threaten the U.S. economy and national security, with the goal of encouraging foreign manufacturers to produce goods domestically. Letters detailing the new duties have been sent to leaders of affected nations, warning that any retaliatory tariff increases would be met with equivalent or higher tariffs from the U.S. The trade policy has caused uncertainty among businesses and markets, with frequent changes complicating planning for production and inflation. Despite ongoing negotiations, few trade deals have been finalized, prompting Trump to renew tariff threats to force progress. The administration has also delayed the implementation deadline from July 9 to August 1, signaling continued efforts to reach better trade agreements while maintaining pressure on trading partners.