Trump Delays New Tariffs, Targets Japan, South Korea, Others

President Donald Trump has announced higher tariffs—ranging from 25% to 40%—on countries including Japan, South Korea, Indonesia, and Thailand, but postponed their start to August 1. Originally set for this week, the delay gives time for trade talks.

Trump said the tariffs respond to “non-reciprocal” trade ties and warned of further escalation if partners retaliate. However, he left room for revisions if countries adjust their trade policies.

Only limited deals have been reached so far, with Britain and Vietnam. China and the U.S. have agreed to temporarily reduce some tariffs, but a broader pause expires mid-August.

Markets dipped on the news, with the Nasdaq down 0.9%. Despite tensions, negotiations continue, and more trade announcements are expected soon.