New tariffs will be imposed starting August 1, including 25% on Japan and South Korea, and 30% on South Africa. Lower rates were announced for Myanmar, Laos, and Kazakhstan compared to previous tariffs. The Trump administration remains optimistic about trade deals with multiple nations by mid-week, alongside expectations for significant announcements. Countries aligning with BRICS face an additional 10% tariff, contributing to market volatility. Agreements with Vietnam and the UK are in progress, signaling ongoing trade negotiations, particularly with Canada, which have resumed after a brief halt. These developments could deeply affect the housing sector.
The Trump administration announced new tariffs of 25% on Japan and South Korea, and a 30% tariff on South Africa, effective August 1.
Threatened countries aligning with BRICS nations will face an additional 10% tariff, heightening trade tensions and impacting global stock markets.
Despite uncertainty, the Trump administration expressed optimism for concluding trade deals with most countries by Wednesday, with many announcements expected.
Trump's shifting trade policy significantly impacts the housing industry as homebuilders depend on imports from countries subject to tariffs.
Collection
[
|
...
]