Articles in this Cluster
08-07-2025
President Trump extended a 90-day pause on higher US import tariffs, shifting a planned hike from 9 July to 1 August, while sending tariff warning letters to 14 countries. He threatened a 25% levy on Japan and South Korea and outlined new rates including 40% on Myanmar and Laos, 36% on Thailand and Cambodia, 35% on Serbia and Bangladesh, 32% on Indonesia, 30% on South Africa, and 25% on Malaysia and Tunisia, with flexibility to adjust based on relations. Markets dipped, with Toyota’s US shares down 4%. Japan and South Korea said they would intensify talks; Thailand voiced confidence in reaching a comparable rate. The White House framed the delays as negotiation leverage, noting active outreach from foreign leaders. The US has reached tariff-raising deals with the UK and Vietnam and a partial deal with China; talks continue with India and the EU. Economists warn higher tariffs could raise US prices and curb trade.
Entities: Donald Trump, United States, Japan, South Korea, White House • Tone: analytical • Sentiment: neutral • Intent: inform
08-07-2025
Kevin Hassett, director of the National Economic Council, said the White House expects multiple trade deals to be finalized this week as a 90-day pause on reciprocal tariffs ends, with additional countries receiving letters outlining U.S. terms. He indicated some agreements may slip past the deadline at President Trump’s discretion and that both large and small partners are in play. Hassett argued the tariff push is spurring onshoring, job growth, and rising wages.
On the “Big, Beautiful Bill,” Hassett disputed independent estimates that it will add trillions to the deficit, asserting the administration’s modeling projects 3% growth that would generate roughly $4 trillion in additional revenue, ultimately shrinking the deficit by $1.5 trillion. He criticized outside forecasters for underestimating growth, citing prior instances where he believes their projections were too pessimistic. He opened by expressing condolences for Texas following a disaster and emphasized the federal response.
Entities: Kevin Hassett, National Economic Council, White House, reciprocal tariffs, trade deals • Tone: analytical • Sentiment: neutral • Intent: inform
08-07-2025
The EU awaits a decision on steep U.S. tariffs after President Trump signaled hikes for countries without new trade deals, already notifying Japan and South Korea. Trump imposed a 20% tariff on EU goods in April, then paused it at 10% until July 9 but now threatens up to 50% on European exports, covering items from food and luxury goods to cars and electronics. The EU is pursuing a deal but plans broad retaliation if needed. While the U.S.-EU trade relationship is massive and generally low-tariff, the Trump administration has adopted a tougher stance, adding duties on steel, aluminum, and autos and pressing on agriculture and regulatory issues the EU says it can’t change. Economists warn U.S. consumers will bear most costs through higher prices; some firms may shift production to the U.S., but benefits would take years. Forecasts suggest failed talks could cut U.S. GDP by 0.7% versus 0.3% for the EU. A framework deal keeping a 10% base tariff and sector-specific duties is possible, with exemptions to ease tensions, but the path remains uncertain and costly for consumers.
Entities: United States, European Union, Donald Trump, tariffs, U.S.-EU trade relationship • Tone: analytical • Sentiment: negative • Intent: inform
08-07-2025
Asia-Pacific stocks were mixed as investors weighed President Trump’s planned U.S. tariffs on 14 trading partners starting Aug. 1, with rates ranging from 25% to 40% on countries including Japan, South Korea, Malaysia, Indonesia, Thailand, Laos and Myanmar; Taiwan and India were notably excluded. Analysts at Citi and Barclays see scope for further letters and negotiations that could alter rates. Markets: Nikkei +0.29%, Topix flat; Kospi +1.47%, Kosdaq +0.46%; CSI 300 +0.74%; Hang Seng +0.8%; ASX 200 −0.23%; India’s Nifty 50 and Sensex flat. U.S. futures fell after Wall Street posted its worst day since mid-June. Stock movers: Nissan sank over 6% amid plans for $4 billion in bond sales; Hong Kong tech rose for a second day; Singapore’s STI hit a record high; Taiwan’s Taiex fell over 1%; Samsung slipped after guiding a sharp Q2 profit drop. The Australian dollar strengthened after the RBA unexpectedly held rates at 3.85%.
Entities: Asia-Pacific stocks, Donald Trump, U.S. tariffs, Japan, South Korea • Tone: analytical • Sentiment: neutral • Intent: inform
08-07-2025
CNBC’s Daily Open says Trump’s letters to 14 countries announcing 25%–40% tariffs starting Aug. 1 jolted markets but likely restate April’s “reciprocal” tariff plan rather than add new policy. U.S. stocks had their worst day in nearly a month; Europe’s Stoxx 600 rose. Oil and gas fell after OPEC+ signaled bigger supply increases. Tesla shed over $68 billion as shares dropped 6.8% amid concern over Elon Musk launching a U.S. political party. Samsung forecast Q2 operating profit down 56% year over year, missing expectations. Analysts advise a more conservative stance on China tech. Separately, Chinese jeweler Laopu Gold opened its first store outside China in Singapore after explosive sales and a stock surge since its 2024 IPO.
Entities: Donald Trump, U.S. tariffs, CNBC Daily Open, U.S. stock market, OPEC+ • Tone: analytical • Sentiment: neutral • Intent: inform
08-07-2025
CNBC’s Daily Open argues that President Trump’s letters to 14 countries announcing 25%–40% tariffs starting Aug. 1 add little new beyond April’s tariff signals, serving more as political theater than policy shift. Markets fell broadly in the U.S. on the tariff news; Asia was mixed. Tesla lost over $68 billion in value after Elon Musk announced a new political party, stoking investor concern. Samsung forecast a 56% year-over-year profit drop for Q2, below expectations. Analysts advise more conservative positioning in China. In Japan, the BOJ faces pressure to manage inflation and weak real wages amid growth concerns and U.S. tariffs.
Entities: Donald Trump, tariffs, CNBC Daily Open, U.S. stock market, Tesla • Tone: analytical • Sentiment: negative • Intent: inform
08-07-2025
European stocks were set to open slightly lower Tuesday as markets weighed looming U.S. tariff hikes and potential EU-U.S. negotiations. An EU diplomat said the bloc likely won’t receive a formal U.S. timeline letter Tuesday, giving negotiators more time to seek a framework deal that could set a 10% baseline tariff with carve-outs for items like aircraft and spirits. Economist Raphael Olsyzna-Marzys now expects the U.S. effective tariff rate to rise toward 20% (from ~15% today, 2.5% late last year), with higher rates likely for Asian countries seen as having large trade surpluses. U.S. Treasury Secretary Scott Bessent flagged multiple trade announcements within 48 hours. Asia-Pacific markets were mixed as investors assessed Trump’s plan for steep new tariffs, including 25% on goods from Japan, South Korea, Malaysia, Kazakhstan and Tunisia from Aug. 1. IG futures pointed to small declines at the open for the FTSE 100, DAX, CAC 40 and Italy’s FTSE MIB.
Entities: European stocks, Stoxx 600, FTSE 100, DAX, CAC 40 • Tone: analytical • Sentiment: neutral • Intent: inform
08-07-2025
President Trump issued tariff letters raising or reaffirming steep “reciprocal” duties on imports from over a dozen countries, prompting regret and pushback but also pledges to keep negotiating before an Aug. 1 deadline. Japan called the move “truly regrettable” as its rate rises to 25% and said talks could still revise terms. South Korea, facing a 20% blanket tariff, will accelerate negotiations and seek lower duties on key sectors. Thailand expressed shock but hopes for reductions despite a 36% rate; Malaysia’s rate rose to 25% and it will continue engagement. South Africa disputed a 30% levy as misaligned with trade data. A trade expert noted that intensive outreach by ASEAN members appears to have had little effect on outcomes, suggesting ongoing U.S. concerns about Asian supply chains linked to China. Trump’s letters left room for adjustments based on further talks.
Entities: Japan, Donald Trump, tariffs, South Korea, Thailand • Tone: analytical • Sentiment: negative • Intent: inform
08-07-2025
Japan’s Bank of Japan faces a difficult policy dilemma as real wages fell 2.9% in May—the fastest drop in 20 months—despite the largest negotiated pay hikes since 1991, with inflation at 3.5% eroding gains. Growth is weakening, with Q1 GDP contracting 0.2% amid declining exports, and looming U.S. tariffs of 25% threaten further pressure. Analysts are split: some argue slowing real wage growth weakens the “virtuous cycle” and could delay hikes; others say raising rates to strengthen the yen would curb imported inflation and aid purchasing power. A third camp urges holding steady to avoid hurting domestic demand. BOJ Governor Ueda remains confident the wage-price cycle will endure despite tariff risks.
Entities: Bank of Japan, Kazuo Ueda, real wages, inflation, yen • Tone: analytical • Sentiment: negative • Intent: analyze
08-07-2025
President Trump delayed implementation of his new “reciprocal” tariffs to August 1 (except for China) and sent letters to 14 countries with revised, in some cases higher, tariff rates. While China, the UK, and Vietnam have secured varying trade deals with the US, most partners are still negotiating. South Korea aims to accelerate talks to avoid a threatened 25% tariff and address its US trade surplus. Japan formed a cabinet-wide task force; Prime Minister Shigeru Ishiba seeks an early agreement while criticizing the additional tariffs but did not threaten retaliation. South Africa condemned a new 30% tariff as unjustified and based on flawed data, asserting most US exports there are already duty-free, and said it proposed a framework deal to resolve US concerns. The situation remains fluid as countries push for agreements before the August deadline.
Entities: Donald Trump, China, United Kingdom, Vietnam, South Korea • Tone: analytical • Sentiment: neutral • Intent: inform
08-07-2025
Donald Trump announced new across-the-board tariffs effective 1 August on at least seven countries as part of his revived “liberation day” trade push to boost US manufacturing. Japan and South Korea will face 25% tariffs on all goods, Malaysia and Kazakhstan were later added, South Africa will face 30%, and Laos and Myanmar 40%. These duties are in addition to existing sector-specific tariffs (e.g., 50% on steel). Countries will receive letters detailing rates and warning against retaliation, with rates adjustable based on relations. The EU will also receive a letter soon, and Trump threatened an extra 10% tariff on nations aligning with BRICS policies. The UK, which recently struck a limited deal, is expected to remain at a 10% general rate, though uncertainty persists over whether 25% tariffs on UK steel and aluminum will be lifted or raised to 50%. Markets dipped after the announcements; the dollar rose while the S&P 500 fell about 1%, and US-traded shares of some Korean firms dropped.
Entities: Donald Trump, United States, Japan, South Korea, European Union • Tone: analytical • Sentiment: negative • Intent: inform
08-07-2025
US President Donald Trump imposed 25% unilateral tariffs on Japan and South Korea ahead of a Wednesday deadline, signaling impatience with slow negotiations and aiming to force faster deals. He simultaneously announced higher or equal tariffs on several other countries, including 40% on Myanmar and Laos; 36% on Cambodia and Thailand; 35% on Bangladesh and Serbia; 32% on Indonesia; 30% on South Africa and Bosnia and Herzegovina; and 25% on Kazakhstan, Malaysia, and Tunisia, effective August 1. Trump warned that any reciprocal tariff hikes would trigger proportional US increases. Analysts say the move is a pressure tactic to jump-start talks. China is unlikely to be affected, as Washington and Beijing have a framework deal to reduce US tariffs to 55% and Chinese tariffs to 10%, down from much higher levels announced in April.
Entities: Donald Trump, United States, Japan, South Korea, tariffs • Tone: analytical • Sentiment: negative • Intent: inform
08-07-2025
Malaysia is seeking urgent, comprehensive trade talks with the US after President Trump imposed a 25% tariff on Malaysian exports, part of broader levies on 14 countries aimed at pressuring negotiations. Kuala Lumpur’s trade ministry said it will engage “in good faith” to clarify the tariff’s scope and impact, address outstanding issues, and push for a mutually beneficial deal. Trump’s letter to Prime Minister Anwar Ibrahim framed the tariffs as necessary to correct long-running US trade deficits; he has suggested relief could be possible if Malaysia shifts manufacturing to the US.
Entities: Malaysia, United States, Donald Trump, Anwar Ibrahim, 25% tariff • Tone: urgent • Sentiment: negative • Intent: inform
08-07-2025
- Trump announced 25% tariffs on imports from allies including South Korea and Japan, seen by analysts as a brinkmanship tactic rather than a final policy.
- The tariff start date was pushed to August 1, extending talks by about three weeks beyond the previously expected July 10 implementation.
- South Korea convened an emergency cabinet meeting and aims to strike a “mutually beneficial” deal during the window.
- Seoul is considering regulatory changes and deeper cooperation with the US in strategic sectors like shipbuilding and semiconductors to align with a shared “manufacturing renaissance.”
Entities: Donald Trump, South Korea, Japan, United States, 25% tariffs • Tone: analytical • Sentiment: neutral • Intent: inform
