Asian markets are largely ridding Trump’s latest announcement As the U.S. president also appears to have pushed the start date of the new tax to August 1, tariff rates for some of its trading partners.
Trump’s White House on Monday Revealed Two of the two U.S. trading partners have a 25% equity on Japan and South Korea. These are roughly the same level as Trump initially threatened in April. But now, U.S. trade partners must negotiate a new trade deal by August 1, rather than the July 9 deadline implemented previously.
Japan’s Nikkei 225 closed up 0.3% on Tuesday. Kospi in South Korea grew by 1.8%.
exist His letter For Japan and South Korea, Trump pointed out that goods considered to be considered “evading higher tariffs will be subject to higher tariffs”, although no specific details were provided.
Previously announced trade As Vietnam imposes 40% tariffs on goods passing through Southeast Asian countries, the Trump administration has not shared how it regards “transshipment” as a concept.
If Japan or South Korea retaliates with its own measures, the U.S. president also threatens to further increase tariffs.
Japanese Prime Minister Shigeru Ishiba and South Korean President Lee Jae Myung expressed optimism on Tuesday that they could find arrangements that can challenge each other by August 1.
Elsewhere in Asia, Hong Kong’s Hong Kong index grew by 1% as of 3:30 a.m. in the east. The Nifty 50 in India is flat. The Australian Standard & Poor’s/ASX 200 also closed the apartment.
Trump told reporters on Monday that tariffs are not “100% of the company,” meaning there is still room for negotiations until August 1. A total of 14 letters were sent, more than half of which were Asian economies.
Southeast Asia
Many other economies, especially in Southeast Asia, also slapped at new tariff rates on Monday, ranging from 25% to 40%. Although some of these prices are below the threat in April, they remain an escalation of the 10% tariff on all U.S. imports.
The 90-day tariff suspension for trade negotiations was initially for expiration Wednesday. The deadline appears to have been extended to August 1, providing more time for negotiations.
This may be very grateful for the breathing space of Southeast Asian economies, Rely on the United States As a major export market.
Indonesia, Thailand, Malaysia and Cambodia are all openly offering to buy more U.S. products, such as energy or agricultural products.
Malaysia has negotiated with Washington and said on Tuesday it will continue to negotiate with the United States, and the country will now receive 25% tariffs, a percentage point higher than the Liberation Day proposal.
Malaysia’s Ministry of Investment, Trade and Industry said in a statement that the country is “committed to continue engagement with the United States, achieving a balanced, mutually beneficial and comprehensive trade agreement.”
In Thailand, Finance Minister Pichai Chunhavajira Express Confidence that the country can negotiate a lower tariff rate after Trump’s announcement.
The day before, pichai Famous Thailand has proposed to reduce import taxes on U.S. products by 90% and eliminate taxes on many items. He believes that the United States has not yet considered Thailand’s proposal and continuing negotiations will achieve positive results by August 1.
Indonesia’s coordinated Minister of Economic Affairs Airlangga Hartarto is expected to arrive in Washington on July 8 to meet with the U.S. representative. Last week, Indonesia explain It has reached a $34 billion trade and investment agreement with the United States Southeast Asian countries, and now its products have tariff rates the same as proposed on April 2.
Cambodia received 40% tariffs on Monday, down from 49% initially threatened in April. Southeast Asian countries, One of the highest tariff rates on liberation dayhad previously agreed to cut tariffs on U.S. goods.
