President Donald Trump has now released “letters” to 14 countries today, announcing that, unless they negotiate a deal over the next few weeks, he will impose reciprocal tariffs on those countries from August 1st. In most cases, those tariffs that would match the rates originally threatened in his “Liberation Day” announcement. In addition to Japan and Korea, letters with near-identical language were posted on social media through the afternoon, targeting Thailand, Malaysia, Indonesia, Cambodia, and other smaller trading partners. That makes the EU, India, Taiwan, Brazil, Turkey and Australia the most conspicuous absences, which could mean they are close to sealing preliminary “deals” or about to receive a letter themselves. Trump has also signed an Executive Order delaying all higher reciprocal tariffs, which were due to kick in after the end of the 90-day pause on 9th July, until August 1st.
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