U.S. President Donald Trump imposed harsh tariffs on 14 trading partners, but the new measures have so far been dismissed by international markets.
The president declared on Monday that he had written to the leaders of Bangladesh, Serbia, Cambodia, Thailand, Laos, Myanmar, Japan, South Korea, Malaysia, Kazakhstan, South Africa, and Bosnia and Herzegovina.
New duty rates on commodities sent from each nation to the US were outlined in each letter.
Beginning on August 1, the new rates, which range from 25% to 40%, will be in force. A subdued reaction was shown by Asia-Pacific markets on Tuesday, some of which will be directly affected by the additional tariffs.
The South Korean stock exchange’s Kospi rose 1.8%, while Japan’s benchmark Nikkei 225 index finished the day 0.3% higher.
Source (CNBC)
