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What is the latest on tariffs?

Asked 3 hours ago

Answer

The latest on tariffs is that the White House is warning of higher tariffs starting August 1 if new trade deals are not finalized. The U.S. has announced 25% tariffs on imports from Japan and South Korea, and sent letters to several other countries outlining new tariff rates, which could be as high as 36%. The markets have reacted with increased volatility, and the administration is focused on pressuring trading partners to reach agreements before the deadline.

References

Cambodia, Thailand among new countries to receive U.S. tariff letters
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CNBC
4 hours ago
Cambodia, Thailand among new countries to receive U.S. tariff letters

Seven new countries, including Cambodia and Thailand, received letters outlining new tariff rates on their exports to the U.S., ranging from 25% to 36%, effective August 1 unless deals are reached.

Markets react to Trump administration's newest tariff threats
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CBS News
10 hours ago
Markets react to Trump administration's newest tariff threats

The White House has sent letters warning that goods from Japan and South Korea could face 25% tariffs if agreements are not finalized before the end of the 90-day pause, with August 1 as the critical deadline.

Trump announces 25% tariffs on Japan, South Korea starting Aug. 1st
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CNBC
10 hours ago
Trump announces 25% tariffs on Japan, South Korea starting Aug. 1st

President Trump announced 25% tariffs on all imports from Japan and South Korea to the United States, effective August 1, with further increases possible if there is retaliation.

White House warns higher tariffs could roll out August 1
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CBS News
14 hours ago
White House warns higher tariffs could roll out August 1

The administration says countries have until August 1 to negotiate trade deals with the U.S., or their tariff rates will return to higher levels.

Trump to send tariff notices to countries without trade deals
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CBS News
1 day ago
Trump to send tariff notices to countries without trade deals

The White House is planning to apply maximum pressure with higher tariff rates on trading partners, sending dozens of letters to countries without deals, warning that tariffs will revert to April 2nd levels on August 1.

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