Stocks fell on Monday, and President Donald Trump once again raised trade tensions that launched an index when he first announced it. Extensive tariff plans in April.
Slideshow that began after Trump Posted letters In his Social Media PlatformsTruth Society, he said, has sent Japanese and South Korean officials threatening them to start imposing a 25% tariff on goods imported to the United States on August 1. Until then, the state could still reach an agreement with his government, which could avoid these rates.
Later in the afternoon, the president released other letters, saying he sent it to Laos and Myanmar and would face 40% tariffs starting August 1, and Kazakhstan and Malaysia will also see 25% of their duties. South Africa faces a 30% tariff. Trump also signed an executive order extending the 90-day “pause” of his tariffs until August 1. It is initially scheduled to expire on Wednesday, July 9.
Announced a delay in tariff suspension is not enough to alleviate investors. Immediately after the presidential position, stocks letter,,,,, apple,,,,, Honda,,,,, nvidiaand Toyota Everyone fell. this Nasdaq The afternoon fell 0.95%, while the S&P 500 fell 0.89%, Dow Jones The Jones industrial average dropped by 1.1%. Loss follows multiple indexes Last week hit record high.
Trump’s earlier threat also made investors worried about tariffs.
“Any country that is aligned with the anti-U.S. policy will be subject to additional tariffs,” Trump wrote in another post on Sunday night.
According to White House Press Secretary Karoline Leavitt and Treasury Secretary Scott Bessent, the tariff rate on Monday is the first of many other trade announcements the president is expected to make this week.
According to capital economics, only about 54% of imports from Japan will face a 25% tariff. This is because the new tax rate does not apply to goods that fall under specific tariffs for specific products that the president has implemented, such as automobiles and exemptions to electronics and medicines.
“This shows that Trump has not (yet) sent a letter threatening higher EU tariffs, which shows that he is still satisfied with the development of those bilateral trade negotiations,” wrote Paul Ashworth, chief North American economist at Capital Economics. “From the European side, media reports show that a draft framework agreement is close to agreement, which will allow time to negotiate in more detail.”
at the same time, Tesla CEO Elon Musk’s statement that he plans to drop more than 7% on the day Pass the Republican Budget Act He objected.
