Trump hits Asian nations with tariffs, including allies Japan, South Korea
United States President Donald Trump is set to impose 25 percent tariffs on two key US allies, Japan and South Korea, beginning on August 1 as the administration’s self-imposed deadline for trade agreements of July 9 nears without a deal in place. On Monday, the Trump administration said this in the first of 12 letters to key US trade partners regarding the new levies they face. In near-identically worded letters to the Japanese and South Korean leaders, the US president said the trade relationship was “unfortunately, far from Reciprocal”. Japan’s Prime Minister Shigeru Ishiba has said that he “won’t easily compromise” in trade talks with the Trump administration. The US imports nearly twice as much from Japan as it exports to the country, according to US Census Bureau data. Currently, both Japan and South Korea have a 10 percent levy in place, the same as almost all US trading partners. But Trump said he was ready to lower the new levels if the two countries changed their trade policies. “We will, perhaps, consider an adjustment to this letter,” he said in letters to the two Asian countries’ leaders that he posted on his Truth Social platform. “If for any reason you decide to raise your Tariffs, then, whatever the number you choose to raise them by, will be added onto the 25% that we charge.” Trump also announced the US will impose 25 percent tariffs each on Malaysia and Kazakhstan, 30 percent on South Africa and 40 percent each on Laos and Myanmar. US Treasury Secretary Scott Bessent said earlier on Monday that he expected several trade announcements to be made in the next 48 hours, adding that his inbox was full of last-ditch offers from countries to clinch a tariff deal by the deadline. Bessent did not say which countries could get deals and what they might contain. Advertisement In April, the White House said it would have 90 trade and tariff deals established within 90 days. That did not happen, and since that time, the administration has solidified two agreements — one with Vietnam, and the other with the United Kingdom. “There will be additional letters in the coming days,” White House Press Secretary Karoline Leavitt said, adding that “we are close” on some deals. She said Trump would sign an executive order on Monday formally delaying the July 9 deadline to August 1. BRICS tensions Trump also put members of the developing nations’ BRICS group in his sights as its leaders met in Brazil, threatening an additional 10 percent tariff on any BRICS countries aligning themselves with “anti-American” policies. The new 10 percent tariff will be imposed on individual countries if they take anti-American policy actions, a source familiar with the matter told Reuters news agency. The BRICS group comprises Brazil, Russia, India and China and South Africa along with recent joiners Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates. Trump’s comments hit the South African rand, affecting its value in Monday trading. Russia said BRICS was “a group of countries that share common approaches and a common world view on how to cooperate, based on their own interests”. “And this cooperation within BRICS has never been and will never be directed against any third countries,” said Kremlin spokesman Dmitry Peskov. European Union at the table The European Union will not be receiving a letter setting out higher tariffs, EU sources familiar with the matter told Reuters on Monday. The EU still aims to reach a trade deal by July 9 after European Commission President Ursula von der Leyen and Trump had a “good exchange”, a commission spokesperson said. It was not clear, however, whether there had been a meaningful breakthrough in talks to stave off tariff hikes on the largest trading partner of the US. Adding to the pressure, Trump threatened to impose a 17 percent tariff on EU food and agriculture exports, it emerged last week. The EU has been torn over whether to push for a quick and light trade deal or back its own economic clout in trying to negotiate a better outcome. It had already dropped hopes for a comprehensive trade agreement before the July deadline. “We want to reach a deal with the US. We want to avoid tariffs,” the spokesperson said at a daily briefing. Without a preliminary agreement, broad US tariffs on most imports would rise from their current 10 percent to the rates set out by Trump on April 2. In the EU’s case, that would be 20 percent. Advertisement Von der Leyen also held talks with the leaders of Germany, France and Italy at the weekend, Germany said. German Chancellor Friedrich Merz has repeatedly stressed the need for a quick deal to protect industries vulnerable to tariffs ranging from cars to pharmaceuticals. Germany said the parties should allow themselves “another 24 or 48 hours to come to a decision”. And the country’s auto company Mercedes-Benz said on Monday its second-quarter unit sales of cars and vans had fallen 9 percent, blaming tariffs. Markets respond US markets have tumbled on Trump’s tariff announcements. As of 3:30pm in New York (19:30 GMT), the S&P 500 fell by 1 percent, marking the biggest drop in three weeks. The tech-heavy Nasdaq Composite Index was down by a little more than 1 percent, while the Dow Jones Industrial Average also fell by more than a full percentage point. US-listed shares of Japanese automotive companies fell, with Toyota Motor Corp down 4.1 percent in mid-afternoon trading and Honda Motor off by 3.8 percent. Meanwhile, the US dollar surged against both the Japanese yen and the South Korean won. Adblock test (Why?)
Doctors alarmed at rising meningitis cases in Gaza’s children
NewsFeed A 16-month-old Palestinian baby is among a growing number of children in Gaza suffering from meningitis, as overcrowding, poor sanitation, and collapsing healthcare caused by Israel’s war on the enclave drive a surge in cases. Published On 7 Jul 20257 Jul 2025 Adblock test (Why?)
Big tension for Pakistan, China, Indian Army to test gun that shoots and scoots in 85 seconds, is developed by…, name is…
Developed by the Defence Research and Development Organisation (DRDO), it is seen as a step forward in enhancing the Army’s mobility and firepower.
Big update for passport applicants as this city to get new Passport Seva Kendra, not in UP, Maharashtra, MP, Haryana, it is in…
The new PSK will provide more convenient and better services to the residents. From July 7 onwards, all passport-related services, including applications, renewals, and document verification, will be available at the new location.
Big opportunity to buy plot in this posh area of ??Delhi soon, DDA prepares complete plan, project to cost Rs…
The planning and design work, including approval from authorities, will take up to three months. The remaining nine months will be for construction and infrastructure work.
Accused in Bihar businessman Gopal Khemka’s murder case killed in encounter, here’s what we know so far
Businessman Gopal Khemka was shot dead late Friday night outside his home in Patna.
Michigan man dead after firing at U.S. Border Patrol station in South Texas
Three officials was injured during the shooting and is recovering. The FBI is investigating the incident.
White House defends national forecasting agency amid questions about warnings, response to Texas floods
President Donald Trump is expected to visit Central Texas this week. Local officials and forecasters have defended their actions before and after flash floods killed dozens in the region.
Ted Cruz was vacationing in Greece when the deadly Texas floods broke out. His office says he took the first flight home.
Texas’ junior senator was visiting Greece Friday when the Texas flood turned deadly. Cruz, who did not return until Sunday night, communicated with officials from Athens.
Elon Musk connects with indie Andrew Yang on billionaire former Trump ally’s third party push
As Elon Musk moves forward with forming a third party in hopes of rocking the nation’s longstanding two-party system, the world’s richest person is reaching out to a one-time presidential candidate who has started his own independent party. Musk, the billionaire CEO of Tesla and SpaceX who spent the first four months of President Donald Trump’s second administration as a special White House advisor steering the recently created Department of Government Efficiency (DOGE), spoke with Andrew Yang, Fox News has confirmed. A source familiar with the conversation said that the two discussed Musk’s push to create the “America Party,” which Musk aims to field some candidates in next year’s midterm elections. TRUMP DISMISSED MUSK’S MOVE TO FORM THIRD PARTY “I’m excited for anyone who wants to move on from the duopoly,” Yang said in a statement to Fox News. “And I’m happy to help give someone a sense of what the path looks like.” News of the conversation was first reported by Politico. Yang grabbed national attention in the 2020 election cycle, as the entrepreneur went from an extreme longshot to briefly being a contender for the Democratic presidential nomination. But Yang soured on the two-party system after an unsuccessful 2021 run for New York City mayor. He then formed the independent Forward Party, which has been recognized in a handful of states and aims to eventually gain ballot access from coast to coast. ELON MUSK LAUNCHES ‘AMERICA PARTY’ AFTER TRUMP SIGNS HISTORIC SPENDING BILL: ‘WASTE & GRAFT’ Yang and Musk are far from strangers. Musk in 2019 supported Yang’s unsuccessful presidential bid. Musk became the top donor of the 2024 election cycle, dishing out nearly $300 million in support of Trump’s bid through America PAC, a mostly Musk-funded super PAC aligned with Trump. Trump named Musk to steer DOGE soon after the November election, and the president repeatedly praised Musk during his headline-making and controversial tenure at the cost-cutting effort. But a feud between Musk and Trump broke out days after Musk left the White House in late May, as Musk dubbed the administration’s massive landmark spending bill – which Trump called his “big, beautiful bill” – a “disgusting abomination,” which he said would sink the nation into unsustainable debt. POLL POSITION: MUSK’S FAVORABILTY AMONG REPUBILCANS PLUNGES AFTER FEUD WITH TRUMP Musk also argued that Trump would not have won last year’s presidential election without all of his support. Musk announced the launch of the “America Party” on his social media platform X on Saturday, a day after Trump signed the sweeping domestic policy package into law. The measure narrowly passed the Senate and House last week along near party-line votes in the Republican-controlled chambers. Trump on Sunday ridiculed Musk’s move. “I think it’s ridiculous to start a third party,” Trump told reporters. “It’s always been a two-party system, and I think starting a third party just adds to confusion. CLICK HERE TO GET THE FOX NEWS APP The president added that “third parties have never worked. So, he can have fun with it, but I think it’s ridiculous.” Starting an independent or third party, and gaining ballot access in states across the country, is extremely difficult.