President Trump has announced sweeping new tariffs: 25% on goods from Japan and South Korea, and up to 40% on imports from a dozen other countries.
Set to take effect August 1, the move has reignited fears of global trade disruptions. Trump warned that any retaliatory tariffs would be met with even higher U.S. duties.
While framed as a strategy to revive domestic manufacturing, the tariffs are already shaking markets, boosting bond yields, and raising recession concerns. Negotiations remain possible, but uncertainty is high.