BREAKING: Trump announces 14 Countries to face steep increases

Keep up with the latest news and be part of our weekly giveaways and airtime sharing; follow our WhatsApp channel for more updates. Click to Follow us

President Donald Trump revealed that 14 countries will face steep blanket tariffs starting August 1, with rates ranging from 25% to 40%. The countries include Japan, South Korea, Malaysia, Kazakhstan, and Tunisia at 25%, South Africa and Bosnia and Herzegovina at 30%, and Indonesia at 32%. Bangladesh and Serbia will face 35%, while Cambodia and Thailand will be at 36%, and Laos and Myanmar at 40%.

For further information, read more details here

“Depending on our relationship with your Country,” Trump said, the US “perhaps” will consider adjusting tariff levels. This move comes after a 90-day pause that lowered tariff rates to 10%, set to expire before being extended

Tariff Rates:

– 25%: Japan, South Korea, Malaysia, Kazakhstan, Tunisia

– 30%: South Africa, Bosnia and Herzegovina

– 32%: Indonesia

– 35%: Bangladesh, Serbia

– 36%: Cambodia, Thailand

– 40%: Laos, Myanmar

The US financial markets reacted negatively, with the Dow Jones Industrial Average falling 0.94%, S&P 500 shedding 0.79%, and Nasdaq Composite dropping 0.92%. For more information, you can try searching online for the latest updates

Please don’t forget to “Allow the notification” so you will be the first to get our gist when we publish it. 
Drop your comment in the section below, and don’t forget to share the post