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Trump Plans New Tariffs on Goods From 14 Countries
President Donald Trump says he will soon place new taxes (tariffs) on goods coming into the U.S. from 14 countries, including Japan, South Korea, Thailand, and Indonesia.
Tariffs to Start August 1,
Trump said most of the new taxes will be 25% or higher, and they could go up or down depending on how other countries treat the U.S.
This comes after a 90-day pause the White House gave to allow time for trade talks but that pause is now ending.
Who Will Be Affected?
Japan: 25% tariff
South Korea: 25% tariff
Myanmar & Laos: 40%
Thailand & Cambodia: 36%
Serbia & Bangladesh: 35%
Indonesia: 32%
South Africa: 30%
Malaysia & Tunisia: 25%
Trump also posted letters to world leaders online, warning them about the new tariffs.
Markets React,
Economists say tariffs might raise prices for Americans and slow down trade.
The U.S. stock market fell Monday, and Toyota’s shares dropped 4%.
Trump's Argument,
The president says these tariffs will protect U.S. businesses, create jobs, and reduce foreign competition.
More to Come?
White House Press Secretary Karoline Leavitt said more countries could be added, and Trump is constantly getting calls from leaders who want to avoid the new taxes.
(World leaders are begging him to make a deal) she said. 0 reply
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