Trump Sends Letters on 25% Tariffs to US Allies.

Trump Imposes Tariffs on Countries Worldwide

President Trump has begun the process of imposing tariffs on certain countries by sending them letters with new rates and warnings about potential changes.

According to Axios, Trump published copies of the letters on the Truth Social platform, initially setting a 25% tariff on South Korea and Japan starting August 1. Similar letters were sent to Myanmar (40% tariff), Laos (40%), South Africa (30%), Kazakhstan (25%), and Malaysia (25%).

The letters contain strict demands: 'If you want to open your closed markets to the US, eliminate your tariff and non-tariff barriers, we may consider changes to this letter.'

Trump also warned of possible escalation: 'If you decide to raise the tariffs, any amount you increase them by will be added to our 25%.'

Financial markets reacted with a decline: the S&P 500 index lost nearly 1%, and the Russell 2000 fell by 1.5%.

President Trump is implementing tariffs on certain countries in Asia and Africa to promote open trade relations and protect American interests. The reaction of the financial markets indicates instability regarding these new measures from the administration.