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Business and Economics
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Business and Economics
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Trump’s tariffs on Japan, South Korea hit 25% tariffs
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President Trump announced on Monday that his administration will impose 25% tariffs on imports from South Korea and Japan Starting from August 1 As part of a batch of letters leading abroad.
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Trump detailed the expected tariff rates in his letters to Japanese and South Korean leaders, and also posted them to the Truth Society. The president had previously said he would give About a dozen countries on Monday.
“Please understand this 25% number is Much less than needed To eliminate the gap in trade deficits between us and your country. ” Trump wrote.
The president warned that if any country raises its tariffs, the United States would increase the amount of its tariffs.
Trump wrote to the South Korean president: “As you know, if a company in South Korea or your country decides to build or manufacture products in the United States, in fact, we will do everything we can to get approval quickly, professionally and routinely, in other words, in a few weeks, we will do everything we can.”
The president also sent similar letters to the government Malaysia,,,,, Kazakhstan and South Africa30% tariffs were imposed on their goods, and another 40% tariffs were imposed on Myanmar.
There are more to come here for Brett Samuels of the Mountain.
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Welcome to the hills Business and Economic CommunicationsI am Aris Folley – covering the intersection of Wall Street and Pennsylvania Avenue.
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Has anyone reposted this newsletter to you? Subscribe here.
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Key business and economic news impact this week and beyond:
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Trump extends deadline beyond August, please raise tariff letter
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The Trump administration is expected to announce new tariffs to the country at noon Monday, after delaying the deadline for deals with dozens of trading partners.
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BRICS Group raises “serious concern” by raising tariffs
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FIFA, nationwide, adopted a statement on Sunday condemning the unilateral tariff increase but avoiding mentioning the name of the United States or President Trump.
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Continue to demand summer apologize for criticism of the “Big and Beautiful Act”
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Treasury Secretary Scott Bessent opened fire on Larry Summers later Sunday to criticize President Trump’s huge tax and spending legislation.
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Tesla shares fall after Musk initiates third party
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Tesla shares fell 7% Monday morning after Elon Musk launched a third party and received a cold response from President Trump.
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Mountain Evening report Break the big political story of the day and look forward to tomorrow. Click here to sign up and get it in your inbox
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Upcoming news topics and events we are watching:
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- Next NFIB Small Business Optimism Index Schedule for release at 6 a.m. ET on Tuesday
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Shown from more stories of the day:
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Trump wants to impose a 25% tariff on Japan and South Korea, and new import taxes on 12 other countries.
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WASHINGTON (AP) – President Donald Trump imposes 25% tax on goods imported from Japan on Monday
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We tagged business and economic news from other stores:
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- Dow Slide More than 400 points Monday, as new Trump tariffs prompted a sell-off (CNBC)
- Tesla reserve tank Trump rejects Musk’s new party plan and calls him “off track” (CNN)
- US tariff threats on European goods to shake the world The biggest trade relationship (Associated Press)
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The top stories on the hills now:
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When will the key aspects of Trump’s “big and beautiful bill” take effect?
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President Trump signed his massive tax cuts and spending packages during Friday’s Fourth July celebration, called the “Big and Beautiful Act.” Read more
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Musk and Jeffrey Epstein Post adjust Trump
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Tech billionaire Elon Musk dragged a post in President Trump earlier Monday, knocking the administration out of no arrests related to the Jeffrey Epstein case. Read more
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Comments related to commercial and economic issues submitted on the mountain:
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- Jerome Powell competes to become the worst Fed chairman in history
- A radical plan to make children a national priority
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You all caught up. See you tomorrow!
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