What happened
President Donald Trump Monday announced a new slate of tariffs scheduled to begin on August 1. Rates range from 25% to 40% tariffs on imports from 14 countries, including Japan, South Korea, Thailand and Bangladesh.
Who said what
It's "hard for me to circle the square" of hitting "two of our closest allies," Japan and South Korea, with tariffs, Wendy Cutler, the vice president of the Asia Society Policy Institute, told The Washington Post. The U.S. has "benefited from cooperation with them."
Trump's announcements come as BRICS nations meet for their annual summit in Brazil, where they released a joint statement voicing "serious concerns about the rise of unilateral tariff and nontariff measures." Trump responded by threatening an additional 10% tariff for "any country aligning themselves with the anti-American policies of BRICS."
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
What next?
Although Trump has extended his tariff deadline, originally set to take effect Wednesday, the EU has been "aiming for an agreement in principle by Wednesday," said The Wall Street Journal. Trump had threatened to raise EU import fees to 50% unless a deal is struck.
-
Nursing is no longer considered a professional degree by the Department of EducationThe Explainer An already strained industry is hit with another blow
-
6 gripping museum exhibitions to view this winterThe Week Recommends Discover the real Grandma Moses and Frida Kahlo
-
Why do Republicans fear swing state immigration raids in North Carolina?Today’s Big Question Trump’s aggressive enforcement sparks backlash worries
-
Trump tariff uncertainty casts a dark cloud over Black FridayIN THE SPOTLIGHT Retailers and shoppers alike are starting to reassess their seasonal prospects as the Trump administration’s efforts to upturn the global economy start hitting close to home
-
Trump’s Ukraine peace talks advance amid leaked callSpeed Read Trump’s envoy Steve Witkoff is set to visit Russia next week
-
Memo signals Trump review of 233k refugeesSpeed Read The memo also ordered all green card applications for the refugees to be halted
-
Judge tosses Trump DOJ cases against Comey, JamesSpeed Read Both cases could potentially be brought again
-
X’s location update exposes international troll industryIn the Spotlight Social media platform’s new transparency feature reveals ‘scope and geographical breadth’ of accounts spreading misinformation
-
Tariffs: Will Trump’s reversal lower prices?Feature Retailers may not pass on the savings from tariff reductions to consumers
-
Trump: Is he losing control of MAGA?Feature We may be seeing the ‘first meaningful right-wing rebellion against autocracy of this era’
-
Donald Trump and Jeffrey Epstein: a TimelineIN DEPTH The alleged relationship between deceased sex trafficker Jeffrey Epstein and Donald Trump has become one of the most acute threats to the president’s power
