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Trump Targets 14 Countries With 25% Tariffs and Pushes Back Negotiation Deadline

Leaders received letters warning that any tariff hikes will be mirrored by U.S. duties, prompting swift market sell-offs.

A U.S. flag flutters near shipping containers as a ship is unloaded at the Port of Los Angeles, in San Pedro, California, U.S., May 1, 2025. REUTERS/Mike Blake/ File Photo
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FILE – Shoppers shop electric rice cookers imported from Japan and Korea at the H Mart in Niles, Ill., April 3, 2025. (AP Photo/Nam Y. Huh, File)
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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.