NewzVille International
U.S. President Donald Trump escalated the trade war on Monday by threatening over a dozen countries with higher tariffs.
Prime Minister of Japan Shigeru Ishiba said on Tuesday that Japan will continue negotiations with the United States to secure a bilateral trade deal beneficial to both nations. While Tokyo and Washington have yet to reach an agreement, progress in talks has helped Japan avoid a proposed U.S. tariff hike to around 30-35%, Ishiba told cabinet ministers during a meeting on Japan’s tariff strategy.
Meanwhile, South Korea announced plans to intensify trade talks with the United States, viewing President Trump’s proposed 25% tariff starting August 1 as effectively an extension of a grace period for implementing reciprocal tariffs. South Korea also aims to use this time to improve domestic regulations and resolve its trade deficit with the U.S., advancing key industries through a manufacturing partnership.
Malaysia’s trade ministry said on Tuesday it will continue constructive engagement with the U.S. to achieve a balanced and mutually beneficial trade agreement, following the imposition of a revised 25% tariff on its exports.
U.S. President Trump renewed the threat of a 25% tax on imports from Japan and South Korea and sent letters to world leaders warning of tariffs beginning August 1. Other countries, including Indonesia, Bangladesh, Thailand, South Africa, and Malaysia, face duties ranging from 25% to 40%.
