""If, for any reason, you decide to raise your tariffs, then, whatever the number you choose to raise them by, will be added on to the 25% that we charge.""
""While the news is disappointing, it does not mean the game is over," former US trade negotiator Wendy Cutler said."
Tariffs will increase by 25% on imports from Japan and South Korea starting August 1 unless new trade agreements are established. Japanese Prime Minister Shigeru Ishiba expressed a desire to negotiate a mutually beneficial deal. President Trump warned these tariffs could escalate if tariffs from Japan and South Korea are raised. Asian markets remained steady, but Wall Street, particularly the S&P 500, showed signs of decline. Despite previous discussions, ongoing negotiations are not considered a new deadline according to US Treasury Secretary Scott Bessent.
Read at www.dw.com
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