Overview

• President Donald Trump notified 14 trading partners, including Japan and South Korea, that a 25% reciprocal tariff will apply to their imports starting on August 1.
• An executive order moved the reciprocal tariff deadline from July 9 to August 1, extending the negotiation window under threat of punitive duties.
• Trump warned that any tariff increases imposed by partners would be added on top of the 25% rate to strengthen U.S. leverage.
• U.S. stock indexes fell and the dollar strengthened as investors reacted to the renewed tariff threats.
• South Korea’s Industry Ministry pledged to intensify talks during the extended period to resolve uncertainties and seek exemptions.