US Says 12 Tariff Letters To Be Issued Today, Others To Get In Coming Days
The White House on Monday said that new tariffs will be formally communicated to the leaders of 12 other countries on Monday. “These letters will be revealed in due time,” White House Press Secretary Karoline Leavitt said.
Leavitt also added that executive orders will also be signed, with tariffs being levied starting Aug. 1. She further added that the updates will be posted on Truth Social as and when the letters go out.
This comes after Trump levied 25% tariff on Japan and South Korea. "It's the President's prerogative and those are the countries he chose," added Leavitt when asked for the reason for picking Japan and South Korea.
During the press conference, she added that countries will have to take Trump's letter seriously and added that world leaders are "begging" Trump to come to a deal.
Shortly after the White House briefing, Trump announced five more countries that will be slapped with high import tariffs by the US. The list includes Malaysia and Kazakhstan, which have been hit with 25% tariffs.
The levies are sharper on South Africa, as its imports to the US will be subjected to 30% levies, according to the tariff letter posted by Trump on his social media account.
Myanmar and Laos have been hit with 40% tariffs. The import levies will come into effect from Aug. 1.
So far, India was not named among the countries against whom tariffs will be levied by the US. The South Asian economy is locked in negotiations with the Trump administration over the past few months to hammer out a bilateral trade pact.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
-
Why Amazon And Flipkart Are Struggling To Beat Meesho In India's Smaller Cities
With 274 million users and lowest-cost logistics, Meesho is defending its value commerce crown against giants like Amazon and Flipkart.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.