Overview

• President Donald Trump has confirmed a 25% tariff on Japanese and South Korean imports effective August 1.
• The administration will decide within hours whether to apply a 10% tariff on European Union goods if current talks collapse.
• Uncertainty over potential US duties is forcing European firms to delay investment plans and rework supply chains.
• Use of emergency trade powers has provoked World Trade Organization disputes and domestic legal challenges.
• Repeated deadline extensions and last-minute announcements have intensified market volatility and strained transatlantic relations.