According to reports, US President Donald Trump warned of increased tariffs on several countries, including key allies Japan and South Korea. Trump indicated a flexible stance on the new August deadline for trade deals.
Key highlights:
• Trump threatened 25-40% tariffs on countries like Japan, South Korea, Indonesia, and Malaysia.
• Tariffs were set to resume on Wednesday but were postponed to August 1.
• Trump’s letters to Japan and South Korea cited “unreciprocal” trade relationships.
• Trump mentioned the possibility of negotiating a different offer.
• The global economy faces fresh uncertainty amidst the tariff threats.
The developments in US trade policies could impact Indian markets and businesses, necessitating a strategic approach by investors and entrepreneurs.
Source: Economic Times