Trump Imposes 25%-40% Tariffs on 14 Asian Countries Starting August 1

President Trump has announced a new wave of tariffs targeting 14 countries, including key U.S. allies Japan and South Korea, with levies ranging from 25% to 40% on imports starting August 1. These "Liberation Day" tariffs, delayed from their original July 9 implementation, aim to address long-standing trade deficits and non-reciprocal trade practices, with Trump urging affected nations to consider relocating manufacturing to the U.S. to avoid penalties. The tariffs cover sectoral categories such as autos, steel, and aluminum, and include measures against goods transshipped from China to evade higher tariffs. White House press secretary Karoline Leavitt emphasized ongoing negotiations despite the delay, but analysts warn the postponement may weaken U.S. credibility. Market reactions to the announcements were negative, with major indexes like the Dow Jones and Nasdaq falling sharply. The administration positions these tariffs as necessary to restore fairness and protect the American economy and national security.