President Trump has issued new tariff letters, announcing duties effective 1 August on exports from seven smaller nations, Brunei (25%), Moldova (25%), the Philippines (20%), Algeria (30%), Iraq (30%), Libya (30%), and Sri Lanka (30%), despite their relatively small trade volumes with the U.S.
President Trump claims a deal with China is finalised, though specifics on tariff reductions remain unclear, highlighting ongoing negotiations.
Donald Trump has moved “Liberation Day” to 2 April to avoid association with April Fool’s Day, prompting global governments to prepare for impending tariff announcements.
Politics is dominating the news in the United States – and around the world – with Donald Trump’s latest tariffs set to be announced tomorrow, the markets reaction to the impending tariffs and talks of Trump seeking a third term.
Trump is set to announce new tariffs on imports, including a 25% tax on foreign cars. The move aims to boost U.S. manufacturing but may raise prices and strain trade relations. The UK and other countries are expected to respond with their own tariffs.
Trump recently suggested the possibility of seeking a third term in office, despite the clear prohibition outlined in the 22nd Amendment of the U.S. Constitution, which limits presidents to two terms. In a recent interview, Trump stated he was “not joking” about exploring “methods” to remain in power beyond his current term.
Global stock markets, including the S&P 500 and Nasdaq, experienced declines as investors await imminent tariff announcements from President Trump, reflecting broader economic uncertainties.
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