Reported 23 days ago
President Donald Trump has announced new tariffs of up to 40% on goods from several countries, including Japan and South Korea, set to take effect on August 1. While sending letters to the affected nations, Trump offered some flexibility on the deadline depending on negotiations. The tariffs are partly a response to trade deficits and aim to incentivize foreign manufacturing in the U.S. The announcement caused a drop in U.S. stock markets, particularly impacting major automotive companies.
Source: YAHOO