Trump’s tariffs
Trump is at it again with his tariff threats. The US President previously initiated a 90-day pause on his raft of reciprocal tariffs as the US began negotiations with countries on trade agreements. With this window expiring, Trump has fired his latest salvo by issuing letters to a host of Asian nations. These letters laid out the consequences of not hammering out a trade deal by 1 August. Both South Korea and Japan will suffer 25% tariffs by 1 August, while other countries such as Indonesia and Thailand saw higher tariffs of 32% and 36%, respectively. Malaysia was not spared either, as it was slapped with a 25% tariff if it did not reach an agreement by the deadline. The rates for Laos, Myanmar and Cambodia were 40%, 40%, and 36%, respectively. Singapore, India, and Taiwan were spared and did not receive any letters from the White House on reciprocal tariffs; thus, they...Welcome to this week’s edition of top stock market highlights.
