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Utility tariffs expectedly spike Russian weekly inflation
12 hours ago
US President Donald Trump has delayed his so-called “reciprocal” tariffs once more, with the new deadline set for August 1, Statista reports.
At the same time, he has also sent out letters to 14 countries announcing that tariffs of 25 to 40% will hit them should they fail to reach a trade deal with the United States by the start of next month.
If a new deal is not reached, Laos and Myanmar will be hardest hit. The White House states that the two nations will face tariffs of 40%. Cambodia and Thailand would face tariffs of 36% and Bangladesh and Serbia 35%. Of the 14 countries, Malaysia, Japan, South Korea, Kazakhstan and Tunisia face comparatively lower tariffs at 25%.
The Trump administration has said that more trade-related announcements would be coming shortly.
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