New tariffs set on 14 trading partners

A new slate of tariffs will begin August 1 on imports from Japan, South Korea, Thailand and more

A banner showing a picture of President Donald Trump is displayed outside of the U.S. Department of Agriculture building is seen through trees on the National Mall on June 3, 2025 in Washington, DC.
A banner showing a picture of President Donald Trump is displayed outside of the U.S. Department of Agriculture building on June 3, 2025
(Image credit: Kevin Carter / Getty Images)

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.

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Rafi Schwartz, The Week US

Rafi Schwartz has worked as a politics writer at The Week since 2022, where he covers elections, Congress and the White House. He was previously a contributing writer with Mic focusing largely on politics, a senior writer with Splinter News, a staff writer for Fusion's news lab, and the managing editor of Heeb Magazine, a Jewish life and culture publication. Rafi's work has appeared in Rolling Stone, GOOD and The Forward, among others.